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1 – 10 of 15The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate…
Abstract
The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate cash, which may then be reinvested to finance the operating cash cycle.We analyze simulations of a sustainable growth model of a generic new venture to assess the importance of taxes, and regulatory costs in determining growth.The results suggest that new ventures are particularly vulnerable to public policy effects, since their working capital resource levels are minimal, and they have few options to raise external funds necessary to fuel their initial operating cash cycles.Clearly, this has potential consequences in terms of gaining competitive advantage from experience effects, word of mouth, scale economies, etc. The results of this work suggest that system dynamics models may provide public policy-makers a cost-effective means to meet the spirit of the U.S. Regulatory Flexibility Act
Mpho Trinity Manenzhe, Arnesh Telukdarie and Megashnee Munsamy
The purpose of this paper is to propose a system dynamic simulated process model for maintenance work management incorporating the Fourth Industrial Revolution (4IR) technologies.
Abstract
Purpose
The purpose of this paper is to propose a system dynamic simulated process model for maintenance work management incorporating the Fourth Industrial Revolution (4IR) technologies.
Design/methodology/approach
The extant literature in physical assets maintenance depicts that poor maintenance management is predominantly because of a lack of a clearly defined maintenance work management process model, resulting in poor management of maintenance work. This paper solves this complex phenomenon using a combination of conceptual process modeling and system dynamics simulation incorporating 4IR technologies. A process for maintenance work management and its control actions on scheduled maintenance tasks versus unscheduled maintenance tasks is modeled, replicating real-world scenarios with a digital lens (4IR technologies) for predictive maintenance strategy.
Findings
A process for maintenance work management is thus modeled and simulated as a dynamic system. Post-model validation, this study reveals that the real-world maintenance work management process can be replicated using system dynamics modeling. The impact analysis of 4IR technologies on maintenance work management systems reveals that the implementation of 4IR technologies intensifies asset performance with an overall gain of 27.46%, yielding the best maintenance index. This study further reveals that the benefits of 4IR technologies positively impact equipment defect predictability before failure, thereby yielding a predictive maintenance strategy.
Research limitations/implications
The study focused on maintenance work management system without the consideration of other subsystems such as cost of maintenance, production dynamics, and supply chain management.
Practical implications
The maintenance real-world quantitative data is retrieved from two maintenance departments from company A, for a period of 24 months, representing years 2017 and 2018. The maintenance quantitative data retrieved represent six various types of equipment used at underground Mines. The maintenance management qualitative data (Organizational documents) in maintenance management are retrieved from company A and company B. Company A is a global mining industry, and company B is a global manufacturing industry. The reliability of the data used in the model validation have practical implications on how maintenance work management system behaves with the benefit of 4IR technologies' implementation.
Social implications
This research study yields an overall benefit in asset management, thereby intensifying asset performance. The expected learnings are intended to benefit future research in the physical asset management field of study and most important to the industry practitioners in physical asset management.
Originality/value
This paper provides for a model in which maintenance work and its dynamics is systematically managed. Uncontrollable corrective maintenance work increases the complexity of the overall maintenance work management. The use of a system dynamic model and simulation incorporating 4IR technologies adds value on the maintenance work management effectiveness.
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Afamefuna Paul Eyisi and Emeka Emmanuel Okonkwo
The purpose of this paper is to explore and understand the perceptions of residents of Southeastern Nigeria about glocalizing tourism in the region to help improve their support…
Abstract
Purpose
The purpose of this paper is to explore and understand the perceptions of residents of Southeastern Nigeria about glocalizing tourism in the region to help improve their support for the sustainability of the industry. Emphasis is laid on their expectations and strategies to maximize the positive impacts while minimizing the negative aspects in a bid to address their specific local needs.
Design/methodology/approach
This paper adopts an ethnographic approach to explore the perspectives of key stakeholders in Southeastern Nigeria's tourism industry. These include traditional rulers, men, women and youth representatives, chief priests and local security agents. Decision-making theory is adopted to frame the study.
Findings
The findings identified residents' expectations from glocalizing tourism. They see tourism as an avenue for initiating community projects, creating jobs, patronizing farm produces, reviving cultural practices and addressing religious crises.
Research limitations/implications
This research focused only on selected communities within Southeastern Nigeria. The implication is that the findings do not represent what obtains in other communities within the region. Future research should extend to these areas to have a deeper understanding of how residents perceive the glocalization of tourism.
Practical implications
As the government and developers continue to invest in the tourism industry in the study area, glocalization could be a good way to address specific local needs and gain residents' support in the future.
Originality/value
This paper represents a new research approach for understanding the perceptions of residents about the Nigerian tourism industry.
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Heimo Losbichler and Othmar M. Lehner
Looking at the limits of artificial intelligence (AI) and controlling based on complexity and system-theoretical deliberations, the authors aimed to derive a future outlook of the…
Abstract
Purpose
Looking at the limits of artificial intelligence (AI) and controlling based on complexity and system-theoretical deliberations, the authors aimed to derive a future outlook of the possible applications and provide insights into a future complementary of human–machine information processing. Derived from these examples, the authors propose a research agenda in five areas to further the field.
Design/methodology/approach
This article is conceptual in its nature, yet a theoretically informed semi-systematic literature review from various disciplines together with empirically validated future research questions provides the background of the overall narration.
Findings
AI is found to be severely limited in its application to controlling and is discussed from the perspectives of complexity and cybernetics. A total of three such limits, namely the Bremermann limit, the problems with a partial detectability and controllability of complex systems and the inherent biases in the complementarity of human and machine information processing, are presented as salient and representative examples. The authors then go on and carefully illustrate how a human–machine collaboration could look like depending on the specifics of the task and the environment. With this, the authors propose different angles on future research that could revolutionise the application of AI in accounting leadership.
Research limitations/implications
Future research on the value promises of AI in controlling needs to take into account physical and computational effects and may embrace a complexity lens.
Practical implications
AI may have severe limits in its application for accounting and controlling because of the vast amount of information in complex systems.
Originality/value
The research agenda consists of five areas that are derived from the previous discussion. These areas are as follows: organisational transformation, human–machine collaboration, regulation, technological innovation and ethical considerations. For each of these areas, the research questions, potential theoretical underpinnings as well as methodological considerations are provided.
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