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Book part
Publication date: 28 June 2023

Ali Zamani Babgohari, Danial Esmaelnezhad and Mohammadreza Taghizadeh-Yazdi

Pressure on business to direct their activities responsibly has been increased during the last years to extent their suitability performance in all economic, social and…

Abstract

Pressure on business to direct their activities responsibly has been increased during the last years to extent their suitability performance in all economic, social and environmental dimensions. This has motivated businesses and researchers to identify ways to implement sustainable and resilient operations. In the era of economic globalisation, small and medium enterprises (SMEs) are recognised as an engine of sustainable economic development in both the developed and developing world. Their competitiveness drives the economy, both nationally and internationally. SMEs have faced challenges in developing, internationalisation and achieving competitive advantage. Purpose of current study is to identify and analyse the sustainability and resiliency (SR) barriers to SME internationalisation and prioritise the practices to overcome the negative influence of barriers. In this regard, first, barriers and innovative practices have been identified through the literature review. Second, the essential barriers will be selected through reduction steps by the intuitionistic fuzzy Delphi (IF-Delphi) method. After computing the weight of barriers through the IF-DEMATEL method, the practices were prioritised using four multiple attribute decision-making (MADM) methods in an IF environment. Finally, the scores were aggregated by correlation coefficient and standard deviation (CCSD) technique. Results present that ‘Lack of economical resources to global exports’ and ‘Complications in acclimatizing export product design’ are the top priority barriers and ‘Knowledge of global market opportunities’ and ‘Networking with business incubator institutions’ have been recognised as the essential SMEs internationalisation practices. This study contributes to creating a more focussed approach towards the growth of SMEs. The study results would be helpful for industry, policymakers and academia.

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Decision-Making in International Entrepreneurship: Unveiling Cognitive Implications Towards Entrepreneurial Internationalisation
Type: Book
ISBN: 978-1-80382-234-1

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Book part
Publication date: 28 June 2023

Seyyed Mohammadreza Ayazi, Ali Zamani Babgohari and Mohammadreza Taghizadeh-Yazdi

Many European businesses are small and medium enterprises (SMEs), contributing significantly to the well-being of local economies and regions. Even so, SMEs face many challenges…

Abstract

Many European businesses are small and medium enterprises (SMEs), contributing significantly to the well-being of local economies and regions. Even so, SMEs face many challenges in fostering innovation and improving performance. Furthermore, the raw material consumption is increasing globally, necessitating the development of strategies that will reduce the number of raw materials extracted and imported while improving the sustainability of small and medium-sized businesses. Consequently, promoting circular economy (CE) strategies, such as industrial symbiosis (IS) partnerships, whereby waste products from other industries serve as a source of raw materials for companies, is critical. Identifying and analysing enablers or drivers that support IS collaborations among SMEs is necessary to achieve this goal. In this regard, the purpose of this study will explore the enablers of IS among SMEs considering sustainability dimensions (environmental, social and economic). As facing a decision-making (DM) problem, the multiple attribute decision-making (MADM) approach was applied in a hesitant fuzzy (HF) environment in this research to answer the research questions. In this regard, in phase 1, IS enablers were identified and extracted using a literature review and experts’ opinions. In phase 2, the hesitant fuzzy Delphi (HFD) method was implemented to screen and finalise the enablers identified. In phase 3, casual relations among final enablers were determined using the hesitant fuzzy ANP (HF-ANP) method. Finally, in phase 4, the relative importance of enablers was calculated using the hesitant fuzzy best–worst method (HF-BWM). Consequently, this study provided potential strategies for IS that can be implemented quickly and used by local authorities to support SMEs in achieving circular waste management.

Details

Decision-Making in International Entrepreneurship: Unveiling Cognitive Implications Towards Entrepreneurial Internationalisation
Type: Book
ISBN: 978-1-80382-234-1

Keywords

Content available
Book part
Publication date: 18 January 2024

Abstract

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Artificial Intelligence, Engineering Systems and Sustainable Development
Type: Book
ISBN: 978-1-83753-540-8

Book part
Publication date: 5 October 2018

Olubukola Tokede, Adam Ayinla and Sam Wamuziri

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different…

Abstract

The robust appraisal of exploration drilling concepts is essential for establishing the economic viability of a prospective recovery field. This study evaluates the different concept selection methods that were considered for drilling operations at the Trym field in Norway. The construction of drilling rigs is a capital-intensive process, and it involves high levels of economic risk. These risks can be broadly categorised as aleatoric (i.e. those related to chance) and epistemic (i.e. those related to knowledge). Evaluating risks in the investment appraisal process tends to be a complicated process. Project risks are evaluated using Monte Carlo simulation (MCS) and are based on the fuzzy analytic hierarchy process (AHP). MCS provides a useful means of evaluating variabilities (i.e. aleatoric risks) in oil drilling operations. However, many of the economic risks in oil drilling processes are unanticipated, and, in some cases, are not readily expressible in quantitative values. The fuzzy AHP is therefore used to appraise the qualitatively defined indirect revenues comprising risks that affect future flexibilities, schedule certainty and health and safety performance. Both the Monte Carlo technique and the fuzzy AHP technique found that a cumulative revenue variation of up to 30% is possible in any of the considered drilling options. The fuzzy AHP technique estimates that the chances of profitability being less than NOK 1 billion over a five-year period is 0.5%, while the Monte Carlo technique estimates suggest a more conservative proportion of 10%. Overall, the fuzzy AHP technique is easy to use and flexible, and it demonstrates increased robustness and improved predictability.

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Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Book part
Publication date: 18 January 2024

Zaheer Doomah, Asish Seeboo and Tulsi Pawan Fowdur

This chapter provides an overview of the potential use of Intelligent Transport Systems (ITS) and associated artificial intelligence (AI) techniques in the land transport sector…

Abstract

This chapter provides an overview of the potential use of Intelligent Transport Systems (ITS) and associated artificial intelligence (AI) techniques in the land transport sector in an attempt to achieve related United Nations Sustainable Development Goals (SDGs) targets. ITS applications that have now been extensively tested worldwide and have become part of the everyday transport toolkit available to practitioners have been discussed. AI techniques applied successfully in specific ITS applications such as automatic traffic control systems, real-time image processing, automatic incident detection, safety management, road condition assessment, asset management and traffic enforcement systems have been identified. These methods have helped to provide traffic engineers and transport planners with novel ways to improve safety, mobility, accessibility and efficiency in the sector and thus move closer to achieving the various SDG targets pertaining to transportation.

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Artificial Intelligence, Engineering Systems and Sustainable Development
Type: Book
ISBN: 978-1-83753-540-8

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Abstract

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A Notion of Enterprise Risk Management: Enhancing Strategies and Wellbeing Programs
Type: Book
ISBN: 978-1-83797-735-2

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