Investment In New Technologies Research Articles

Technology: a strategic imperative for successful retailers

PurposeIn the aftermath of the COVID-19 pandemic, technology is rewriting the way consumers shop as well as the retail operating models. In this context, investment in new technologies is a strategic imperative for retailers striving to remain relevant and profitable. Using Kahn's Retail Success Matrix as the conceptual framework, the aim of the study is to propose a classification of emerging technologies based on their potential for sustaining retailers' competitive strategies.Design/methodology/approachFollowing an initial qualitative study based on in-depth interviews and focus groups with 20 retail managers, the authors collected survey data from a sample of 168 retail and technology professionals. To achieve the research objectives, content, descriptive and multiple correspondence factor analyses were carried out.FindingsThe data analyses result on a map that plots the technological solutions that retail experts identify as enablers of four key competitive strategies: product superiority, enhanced customer experience, frictionless shopping experience and operational excellence.Practical implicationsThis research work provides valuable insight into how retail companies can capitalise on technology to create or reinforce their competitive positioning. The framework acts as a guide for retail companies to assess their technology priorities.Originality/valueThis exploratory empirical study is the result of a collaboration between academic researchers and retail professionals. Thus, it addresses challenges experienced by key stakeholders. The encompassing classification enables a better understanding of the impact of technology on retailers' competitive positioning.

Precision Agriculture Innovation in Agriculture

Precision farming refers to the latest trends in agriculture that use technology to improve quality, quantity, and productivity, thereby ensuring profitability, sustainability, betterment, and preservation of the environment. The paper discusses the development and needs for precision agriculture in India with its existing problems and opportunities. The challenges in the future cannot be resolved with ancient methods. In order to make agriculture efficient and sustainable, investment in new technologies accompanied by research and development is required. Agronomics is the highest contributor to national income. More than 70% of the total workforce is dependent on it. The agriculture industry needs top priority because the government and the nation both would fail to succeed in this sector. The paper identifies various challenges associated with the adoption of precision farming in India and the technologies that could be used for better results and the betterment of both farmers and the Agri industry of India.

Split incentive problem in the uptake of new ATM technology

We analyse the problem of split incentives between Air Navigation Service Providers (ANSP) and airlines in adopting disruptive technologies. We develop a theoretical model allowing us to analyse the uptake of technologies based on the potential efficiency gains of both the ANSP and the airlines. Next, we illustrate this model numerically. Our first, intuitive, result is that while regulation of navigation fees is necessary, it also hinders the investments in new technologies. Secondly, we see that the uptake of technologies would be faster in a one-to-one setting. Thirdly, it is not certain that increased competition between ANSPs will stimulate innovation. Finally, an overall technological mandate can be welfare improving as it reduces uncertainty.

Optimal procurement and investment in new technologies under uncertainty

We study a buyer’s optimal investment strategy for new technologies when costs evolve stochastically and are private information to the suppliers. In a real option setting, we show how the asymmetric information on the stochastic variables optimally distorts technology choice and investment timing. We find that with multiple technologies, asymmetric information may delay or speed up investment, compared to the first-best real option benchmark. We also suggest a payment structure that implements the buyer’s optimal investment timing as a Vickrey-type auction.

MCDM for simultaneous optimum economy, investment risk and environmental impact for distributed renewable power: Demonstration with an Indian village data

Increasing renewable share in power supply is currently a global mission. Decentralized renewable power with locally available resources is an emerging preferred sustainable energy solution. This is even more recommended for remote locations where reliable grid power is neither available nor feasible. However, insufficient availability and intermittency of local renewable resources, cost of unit electricity and reluctance of investors due to uncertainty in return on investment in new technologies are some of the critical issues to be addressed. A detailed environmental impact assessment is also needed. Considering the research gap, this study aims to find technically efficient, economically optimal with less uncertainty on return on investment and environmentally benign energy combinations for distributed generation. The methodology proposed in this paper integrates techno-economic optimization with uncertainty analysis in return on investment through Monte Carlo analysis and environmental impact assessment using life cycle assessment to explore an even better sustainable solution. A multi criteria decision making approach is then adopted to decide a final optimum solution for three multi criteria of cost, uncertainty in return on investment and environmental impact. Such a comprehensive analysis for an optimum solution is demonstrated for a remote village of India. The analysis result shows that the combination of solar photovoltaic-diesel generator-Battery system is the possible optimum solution with a cost of electricity of $0.21/kW·h, a standard deviation of 0.07 for risk on investment and a moderate environmental impact.

Формування конкурентоспроможної стратегії підприємства у воєнний час

The article discusses the key aspects of competitiveness of enterprises in the context of the military conflict with Russia, which has left a significant mark on the economic landscape of Ukraine. The results of the analysis indicate serious destruction of the country’s economy, especially given the impact of the war on various sectors of the economic management. Measuring the competitiveness of enterprises can be represented by three main indicators: market efficiency, innovation potential, and intangible assets. The consequences of the war, which is still going on, have determined the risks and challenges that have become decisive factors for business. The destruction of economic infrastructure, supply chain disruptions, and geopolitical changes have become key factors driving the need for strategic transformations to ensure survival and overcome the wartime challenges. The article emphasizes the need for active adaptation of enterprises during the wartime: rapid response to changes in the business environment, search for alternative markets and suppliers, investments in new technologies. These strategies become crucial for maintaining and increasing competitiveness during the wartime. Opportunities to expand markets, change suppliers and resources can reduce the vulnerability of economic entities. In times of uncertainty, it is important to invest in innovative technologies and approaches. This not only helps to stay competitive, but also creates new opportunities for growth in a challenging environment. An important element of long-term success is the development and implementation of strategic risk management plans. This involves identifying and minimizing potential threats, as well as being prepared to respond effectively to unforeseen circumstances. The conditions of war require businesses to actively cooperate and join forces. On the basis of the carried out analysis, the key stages of formation of an effective competitive strategy of enterprise have been proposed. These steps will not only contribute to the survival of companies during the wartime, but will also open up new opportunities for sustainable development and increased competitiveness in the long run.

УПРАВЛІННЯ ЦИФРОВОЮ ТРАНСФОРМАЦІЄЮ МЕНЕДЖМЕНТУ ПЕРСОНАЛУ ЧЕРЕЗ ЦИФРОВУ HR СТРАТЕГІЮ

The world around us is changing. The workforce is changing rapidly. The pandemic and the war have drastically shortened the business path to remote and hybrid work models. The advent of technology and data makes personnel management easy and more complex at one time. Business processes of personnel management are undergoing significant changes under the influence of digitalization. For this transformation to be manageable and meet organizational needs, digital HR strategy formation is necessary. Theoretical understanding and modernization of context defining the new challenges of the digital HR transformation, its stages, components and elements, and the development of a digital HR strategy for the transformation of personnel management are necessary. The article is devoted to the study of the paradigm of digital HR strategy forming, namely: concepts, components, principles, and stages of its forming in organizations. The relationship between the concepts of digital HR transformation and digital HR strategy is substantiated. Vectors and stages of digital HR transformation are highlighted. The components of the digital HR transformation are summarized and characterized, and the components of the digital HR strategy are selected based on them. The introduction of new HR technologies must be supported by a digital HR strategy, which is a detailed plan for the digital transformation of personnel management. To sustain the digital transformation of HR management, companies need a clear digital HR strategy that will involve a strategic rethinking of the use of digital HR technologies to increase business value; rules for forming and implementing a digital HR strategy. The software has enormous potential, but it is important to approach the choice strategically. Any investment in new technology should be tied to specific company goals and have a detailed deployment plan. Modern business tasks cannot be solved using outdated solutions, so traditional sets of HR competencies will not be sufficient; they need to be updated to include new means of communication and critical analysis. In addition, HR teams cannot and should not allow others to make important technological decisions for them, impose on them solutions that are not designed specifically to solve the problems of personnel management of a specific business environment; and, instead, take the initiative to develop and implement a digital HR strategy.

Ammonia-based green corridors for sustainable maritime transportation

Decarbonizing maritime transportation will require huge investments in new technologies and infrastructure for the production, distribution, and utilization of alternative marine fuels. In this context, the concept of green shipping corridors has been proposed, where a green corridor refers to a major shipping route along which low- and zero-carbon maritime transportation solutions are provided. In this work, we conduct a global analysis of green shipping corridors by designing a network of alternative fuel production sites, transportation links, and bunkering ports that can support a large fraction of the global marine fuel demand. We choose green ammonia to be the alternative fuel as it has received significant attention as a potential carbon- and sulfur-free marine fuel that can be produced entirely from renewable resources. Our study identifies the most suitable locations for producing and bunkering green ammonia, examines the trade-off between ammonia production and transportation costs, and highlights the extent to which local reduction in production cost can lead to a competitive advantage in a future green ammonia market. We also demonstrate the value of our global network optimization, which considers many shipping routes simultaneously, in capturing potential synergies and trade-offs across different routes and regions. This work provides insights that can help inform decisions in establishing future green shipping corridors around the world.

자동차부품 사출공정의 결함 검출 및 원인분석을 위한 딥러닝 알고리즘 적용에 관한 연구

The injection molding industry is a key field in the manufacturing industry which is projected to expand and improve national competitiveness. However, the domestic injection molding industry is currently experiencing several difficulties, including the aging of skilled engineers and lack of investment in new technology. To address these challenges, this study aims to establish ways to reduce the time and cost required for quality inspection by quickly identifying defects in the injection molding process through defect-prediction and defect-cause analysis using an artificial intelligence algorithm. In addition, by identifying the relationship between major explanatory variables and explanatory variables for defects, we intend to establish a quantitative analysis through fundamental cause analysis of defects to implement a smart factory with an advanced response.

The Evolution of Canada's Carbon Markets and Their Role in Energy Transition

The tapestry of compliance and voluntary market mechanisms for carbon and other environmental attributes in Canada’s infrastructure capital markets reflects the almost 30-year history of carbon policy development in Canada and around the globe. This history of provincial and federal policy and regulatory changes has left some scars and stranded investments. As a result, energy market professionals and emission offset project developers have had to be resilient in their efforts to scale, integrate, and maximize opportunities for carbon credit products. Recently, we have witnessed increased efforts toward climate-focused investment criteria and technology-bolstered acceleration toward net-zero targets. Carbon credits are one of the key tools that will allow conventional businesses to continue operating as the economy decarbonizes, and they can also facilitate investment in new technologies and practices that will be critical to achieving material economy-wide emissions reductions. Both domestically and internationally, however, there are key barriers that are limiting carbon markets and that highlight the need for more carbon finance investment and policy certainty, as well as standardization and credibility in both compliance and voluntary environmental product markets. Following the Supreme Court of Canada’s ruling in March 2021 to uphold the constitutionality of the federal government’s Greenhouse Gas Pollution Pricing Act , market expectations were high (and perhaps still are) that the regulatory landscape supporting carbon finance in Canada would finally come into better focus. This article will explore the current snapshot of compliance and voluntary carbon finance tools available in Canada, and will highlight some of the challenges and opportunities in navigating the interplay between these products.

Knowledge Intensive Smes In Transition To Society 4.0: Evidence From The Czech Republic

SMEs have significant role in the area of economy, social and environmental area and also in the areas of social and regional development. The dawn of the Society 4.0 driven by the exponential growth of performance of disruptive technologies of Industry 4.0 is reinforcing the role of knowledge intensive services. University of West Bohemia in partnership with the Institute of Technology and Business in České Budějovice focused on the adaptation of this segment of businesses in the project „Knowledge-intensive services sector adaptation to the conditions of Society 4.0“, supported by the Technology Agency of the Czech Republic. The paper aims to attract attention of the broader community to the project findings and outcomes, to present main research outcomes related to adaptation of SMEs in the service sector, to introduce new insights and approaches to academic and professional community, especially to managers of companies undergoing the transformation process to Industry 4.0 and Society 4.0 conditions, and to raise the level of the knowledge base in the field of SMEs adaptation. The results of qualitative and quantitative research show that most of the companies that answered the questionnaire and participated in interviews were small and micro companies with positive approach to the forthcoming changes, however, there still remains a lot of space for improvement. Companies often use open innovation model to apply knowledge from external resources, as they miss the necessary capacities and face difficult access to financial resources for demanding investments in new technologies and, sometimes, lack of necessary competencies. Relatively low attention is paid to risk management, whose role in current volatile situations becomes extremely important and the company resilience often determines the company failure or success. The project contributed to development of proposals of activities, methods and tools that can contribute to reducing barriers on the road to Society 4.0 related not only to new technologies, but also to broader socioeconomic context, including transformations of jobs and job market. The unavoidable changes of the structure of economy, supply chains, education and training were further emphasized by covid pandemics and current war in Ukraine.

Hindering factors to the utilisation of UAVs for construction projects in South Africa

As the designs of construction projects become more complex, there is a corresponding increase in the difficulty encountered in project monitoring. Hence, it is advisable to integrate innovative technologies such as the use of an unmanned aerial vehicle (UAV) to abate some of the problems encountered in the delivery of construction projects. This paper aims to evaluate the barriers to the usage of UAVs in construction project delivery in South Africa. Adopting a quantitative method for the study, data was collected with the aid of a questionnaire from construction professionals in Gauteng province, South Africa. Findings from the study indicate that the most significant factors hindering the deployment of drones in the South African construction industry are lack of training by institutions and lack of investment in new technologies by organisations. Conclusively, the paper recommends measures that would propel the espousal of drone technologies for effective and efficient construction project delivery in the South African construction industry.

INNOVATIVE SOLUTIONS OF DEVICES WITHIN THE SCOPE OF ENERGY CONSUMPTION APPLIED IN VARIOUS BRANCHES OF TRANSPORT

One of the priorities of the EU economy is to create the best possible conditions for the design and implementation of innovative solutions within the scope of energy efficiency. In recent years, there has been quick technological progress in the field of devices having controlled motor drive used for air purification, and from heating plates, which are applied in the eating places, including restaurants and zones for preparing meals in various means of transport. The research conducted by the EU on EcoDesign requirements showed that range hoods at the stage of their use have a considerable potential of saving energy. The introduction of energy efficiency labels to the market has improved the energy efficiency of these devices and accelerated the transformation of the market to implement energy-saving technologies, which according to the experts, may lead to an annual primary energy saving of 27 PJ/year in 2021, which may increase in 2030 to 60 PJ/year. The authors of this publication researched the fluid dynamic efficiency of a selected range hood, showing the necessity of investments in new technologies. Patented original solutions of the range hoods that can be applied, among others, in such means of transport as passenger ships, cargo ships, and submarines having a zone for preparing meals were presented in this article. An environmental aspect in the context of energy consumption was shown during the phase of using the device for air purification, providing many premises and arguments for future constructional solutions for energy management in various branches of transport and more.

Innovation and efficiency in financial institutions.

This paper proposes a new methodology that combines standard production theory with Multiple-Criteria Decision Analysis (MCDA) methods to rank banks based on their capability of using investment in new technologies to reduce the other inputs' usage, for a given level of output. Banks are first ranked based on their investment in innovation (innovation rank); afterwards, we calculate the overall rank by combining two factors of production, viz. labor and assets, using the PROMETHEE II approach that belongs to the family of the outranking methods. We then use directional efficiency measures to measure the banks' efficiency by means of relation between two ranks, for a given level of the outputs. We apply the methodology to a sample of US and EU banks sourced from Orbis BankFocus. The key findings suggest there are four types of banks in our sample: (a) banks whose innovation rank is positively correlated with the overall rank; (b) banks exhibiting a negative correlation between two ranks: their overall ranks are low while still exhibiting high innovation ranks; (c) banks with high overall rank but low innovation rank and (d) banks with the worst ranks both for the innovation rank and the overall rank. The least efficient banks belong to this group.

The new era of advanced biofuels in the face of regulatory uncertainty and investment needed for production

Abstract At this moment, environmental protection is the subject of almost daily debate, both in European and global forums. The most important thing is to find ways for countries to limit their carbon footprint as quickly as possible. Moreover, it should also be borne in mind that it is not desired that these options affect the daily life of individuals. These variants must be in line with the standards of living and needs that society has now. Ideally, this transition between the current options and the future options should be as seamless as possible so as not to create resistance to change in society. The transition to the new sustainable options should be phased in over a longer period, although the situation calls for rapid change with a major impact. The situation becomes even more challenging as the COVID-19 pandemic has brought major changes for companies around the world in the last two years. Not all governments have managed this crisis as well, and this uncertainty is now being reflected in investments in most sectors. Investment in new technologies, as far as the fuel industry is concerned, has been in question because of the uncertainty and rapid changes that society has experienced. This article is intended to highlight the major importance that these advanced biofuels can have for the environment, as well as the long-term sustainability they offer. The methodology of the paper is based on studies and indicators. For example, the company Clariant, as its contribution is well highlighted by the business direction it has towards biofuel technologies. In terms of literature, the subject is quite popular, but articles and papers are limited in number.

How Different and How Alike? Cluster Analysis Applied to Greenhouse Gas Emissions Inventory Data from Companies Listed on the Brazilian Stock Exchange

Purpose: The purpose of this investigation is to understand how companies listed on the B3 that disclose emissions inventories in Brazil are similar or different, based on quantitative variables related to GHG (Greenhouse Gas) emissions intensity, company size, net operating revenue, potential for investments in new technologies, communication, and socio environmental responsibility. Theoretical framework: Theoretical framework addresses corporate social responsibility (RSE) and the economic foundations of Regulation. Method/design/approach: We used a multivariate cluster analysis technique on a sample of 31 companies listed on the Brazilian stock exchange that disclosed emissions inventories over the period 2012 to 2019. Results and conclusion: The results showed that companies like Petrobras (cluster 4), as well as JBS, Vale, Ultrapar and CBD (cluster 3), besides emitting more GHGs, are also larger companies, with higher revenues, committed to communication and socio-environmental responsibility. In addition, they incentivize their executives through higher monetary incentives. Because they have such distinct characteristics from other companies, these companies or sectors could be driven by incentives other than traditional regulation. Research implications: The results suggest that large companies have, in some cases, anticipated regulation as they have incorporated environmental programs within their long-term strategies. In contrast, increased regulation may put pressure on smaller companies to adapt. Originality/value: Our findings contribute to the literature by highlighting the characteristics of these companies that voluntarily disclose emissions inventories in Brazil. Furthermore, we indicate how they are similar or different according to financial, environmental, and social performance criteria.

A Case Study on Reviewing Specialist Services Commissioning in Wales: TAVI for Severe Aortic Stenosis.

The Welsh Health Specialised Services Committee (WHSSC) is responsible for planning, commissioning and funding specialised healthcare in Wales. Investment in new technologies or services is based on clinical and economic evidence, using a consistent and transparent process. This is accomplished in three stages. The first stage is the preparation of a rapid evidence review. This then informs the development or update of the relevant Commissioning Policy. The final stage is to prioritise the Commissioning Policy recommendations against all other new services and interventions, to inform WHSSC’s annual commissioning intentions. In 2017, a review was conducted of the WHSSC Commissioning Policy for transcatheter aortic valve implantation for severe aortic stenosis. Prior to this only high-risk patients were eligible for transcatheter aortic valve implantation. The rapid evidence review identified three randomised controlled trials and two economic analyses relevant to the decision problem. Transcatheter aortic valve implantation was generally found to be more expensive and more effective than medical management or surgical aortic valve replacement, with incremental cost-effectiveness ratios around £10,500–£36,000 for inoperable groups and £17,000–£24,000 in high-risk groups. The rapid evidence review, expert advice and stakeholder feedback informed the revision process of the Commissioning Policy for transcatheter aortic valve implantation. This recommended the addition of patients unsuitable for surgical aortic valve replacement and the removal of explicit risk scoring. This recommendation was subject to the prioritisation process (carried out annually). The updated transcatheter aortic valve implantation recommendation was ranked second out of 23 technologies and services competing for additional WHSSC funding. The WHSSC Integrated Commissioning Plan for specialised services in Wales (2019) therefore included funding to support the new criteria for transcatheter aortic valve implantation treatment.

Impact of Expenditure on the Financial Condition of the City Bus Transport in Sofia

The main costs in transport companies can be spent on the purchase and maintenance of moving parts, fuels, taxes and fees, insurance, the introduction of drivers and investment in new technologies. The size of the calculations includes showing the impact of cash flows, profitability, financial independence and effective financial result. The main problem that is monitored is the lack of efficient allocation of resources when transporting passengers by city buses, which leads to inefficiency of the public service provided to citizens. The aim of the study in the same study is to establish the impact of the distribution of fixed and variable costs on the financial sustainability of urban bus transport, on which to provide guidelines to support the financial situation. The research thesis is that it will improve your decisions related to the distribution of costs, will lead to increased financial results and will achieve the financial sustainability of urban bus transport. A more productive transport product can be produced through variability and redistribution of resources; controlling and reducing the technological mileage; updating the schedules according to the specific situation; reducing fuel consumption by replacing it with environmentally friendly, as well as shared use of operational reserve drivers, which will allow optimizing the work process and achieving financial sustainability of urban bus transport in the capital.

Competition in Congested Service Networks with Application to Air Traffic Control Provision in Europe

We analyze congested network-based markets and their impact on competition, equilibrium charges and efficiency. Several strategies are explored including price caps, mergers and investments in new technologies. We find that congested networks served by collaborating (serial) and competing (parallel) firms may lead to excessive prices. Additionally, oligopolists may only serve captive demand, leading to inefficiently low flows. Perhaps surprisingly, permitting a firm with market power to horizontally integrate with a competitor may improve efficiency. We also show that price caps in congested networks are ineffective due to their failure to signal the existence of scarce resources. Instead, partial vertical integration may prove beneficial by creating incentives to expand capacity through technology adoption, provided the price cap regime is dropped. The model is subsequently illustrated with a case study of air traffic control provision in Western Europe, in which it is shown that substantial changes in the regulation are required in order to create a more cost efficient sector with increased capacity. This paper was accepted by Serguei Netessine, operations management.

Optimal Procurement and Investment in New Technologies Under Uncertainty

Optimal Procurement and Investment in New Technologies Under Uncertainty