WorldWideScience

Sample records for business cycles

  1. How well can business cycle accounting account for business cycles?

    OpenAIRE

    Keisuke Otsu

    2012-01-01

    The business cycle accounting method introduced by Chari, Kehoe and McGrattan (2007) is a useful tool to decompose business cycle fluctuations into their contributing factors. However, the model estimated by the maximum likelihood method cannot replicate business cycle moments computed from data. Moment-based estimation might be an attractive alternative if the purpose of the research is to study business cycle properties such as volatility, persistence and cross-correlation of variables inst...

  2. International Business Cycle

    OpenAIRE

    Marek Lubiński

    2007-01-01

    Prime stylized facts of international business cycle theory refer to positive correlation in the cyclical components of important macroeconomic variables across countries. However a number of indicators of business cycle synchronization do not point to clear trends. It can be ascribed to the fact that different forces influence level of business cycle correlation. When investigating into the forces behind the commonness in aggregate fluctuations economic research seems to have pointed in two ...

  3. Measuring Business Cycle Time.

    OpenAIRE

    Stock, James H

    1987-01-01

    The business cycle analysis of Arthur F. Burns and Wesley C. Mitchell and the National Bureau of Economic Research presumed that aggregate economic variables evolve on a time scale defined by business cycle turning points rather than by months or quarters. Do macroeconomic variables appear to evolve on an economic rather than a calendar time scale? Evidence presented here suggests that they do. However, the estimated economic time scales are only weakly related to business cycle time scales, ...

  4. International Business Cycle Accounting

    OpenAIRE

    Keisuke Otsu

    2009-01-01

    In this paper, I extend the business cycle accounting method a la Chari, Kehoe and McGrattan (2007) to a two-country international business cycle model and quantify the effect of the disturbances in relevant markets on the business cycle correlation between Japan and the US over the 1980-2008 period. This paper finds that disturbances in the labor market and production efficiency are important in accounting for the recent increase in the cross-country output correlation. If international fina...

  5. International Business Cycle

    Directory of Open Access Journals (Sweden)

    Marek Lubiński

    2007-04-01

    Full Text Available Prime stylized facts of international business cycle theory refer to positive correlation in the cyclical components of important macroeconomic variables across countries. However a number of indicators of business cycle synchronization do not point to clear trends. It can be ascribed to the fact that different forces influence level of business cycle correlation. When investigating into the forces behind the commonness in aggregate fluctuations economic research seems to have pointed in two directions. One strand of the literature examines the idea of common exogenous shocks that affect economies simultaneously. In addition to that economic interdependencies such as trade in goods and services or capital account transactions may serve as the channels through which disturbances spill over across countries.The observed degree of output co movement reflects both the nature of the shocks that have occurred and the degree of economic interdependence. In the periods when common shocks prevail level of synchronization is usually higher than in times of transmission dominance.

  6. International Real Business Cycles

    OpenAIRE

    Mario J. Crucini

    2006-01-01

    This paper is a non-technical review of research developments in the international real business cycle literature. International business cycle facts are summarize with particular attention to the sources of output variance from the expenditure side of the NIPA and the production side, using a familiar neoclassical production function. Theoretical developments focus on the how consumption smoothing and investment dynamics shape the current account; the search for sources and propagation mecha...

  7. Business Cycle Synchronization and Regional Integration

    OpenAIRE

    Fiess, Norbert

    2007-01-01

    Deeper trade integration between Central America and the United States, as envisaged under the Central American Free Trade Agreement, is likely to lead to closer links between Central American and U.S. business cycles. This article assesses the degree of business cycle synchronization between Central America and the United States—relevant not only for a better understanding of the influence of important trading partners on the business cycle fluctuations in the domestic economy but for evalua...

  8. Measuring business cycles in The Netherlands, 1815-1913: a comparison of business cycle dating methods

    OpenAIRE

    Bonenkamp, Jan; Jacobs, Jan; Kuper, Gerard H.

    2001-01-01

    This paper compares different business cycle dating methods both on theoretical and practical grounds. Weighing the pros and cons of these methods, and based on a new data set for The Netherlands in the nineteenth century, we finally recommend two preferred methods for doing further business cycle research on the economy of the Netherlands. With respect to the methods for finding turning points in the level of economic activity, the classical cycle definition, we prefer the Bry-Boschan algori...

  9. Finance in the Theory of Business Cycles

    OpenAIRE

    Indrajit, Mallick

    2008-01-01

    Abstract The question of aggregate welfare over time makes business cycle studies important. Finance studies allocation of resources under uncertainty. Thus both these fields of study dwell on intertemporal resource allocation under uncertainty. This paper attempts to shed light on how finance can be integrated into business cycle theory to provide richer and deeper insights than the standard real business cycle theory. JEL Classification: E32, E44, G

  10. Advertising and Business Cycle Fluctuations

    OpenAIRE

    Benedetto Molinari; Francesco Turino

    2009-01-01

    This paper provides new empirical evidence of quarterly U.S. aggregate advertising expenditures, showing that advertising has a well defined pattern over the Business Cycle. To understand this pattern we develop a general equilibrium model where targeted advertising increases the marginal utility of the advertised good. Advertising intensity is endogenously determined by profit maximizing firms. We embed this assumption into an otherwise standard model of business cycle with monopolistic comp...

  11. Entrepreneurship and the business cycle

    NARCIS (Netherlands)

    Koellinger, Philipp D.; Thurik, A. Roy

    2012-01-01

    We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We

  12. Business cycles in the Netherlands, 1815-1913

    NARCIS (Netherlands)

    Jacobs, Jan; Smits, Jan-Pieter

    2001-01-01

    This article exploits a unique new dataset containing information on the economy of the Netherlands to date business cycles turning points in the 19th century (1815-1913) using a modern econometric technique. The business cycle in the Netherlands is compared to the international (UK and US) business

  13. Business Cycle Theory and Econometrics.

    OpenAIRE

    Gregory, Allan W; Smith, Gregor W

    1995-01-01

    We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no conflict in using rigourous statistical procedures to study modern dynamic stochastic general equilibrium models. We also provide a concise bibliography of recent research on statistical methods for busin...

  14. Entrepreneurship and the Business Cycle

    NARCIS (Netherlands)

    Ph.D. Koellinger (Philipp); A.R. Thurik (Roy)

    2011-01-01

    textabstractWe find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972-2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment

  15. Business cycle development in Czech and Slovak economies

    Directory of Open Access Journals (Sweden)

    Poměnková, J.

    2010-12-01

    Full Text Available This paper focuses on the business cycle development of Czech and Slovak economies. The main objective is to compare several methodological approaches to identify business cycles with the main theoretical sources of the economic activity movements in the analyzed periods. As both economies are of transition type, the growth business cycle concept will be considered. In this respect, deterministic as well as stochastic methods for obtaining cyclical fluctuations are applied. Czech and Slovak economies fall into the group of transition economies where the problems of insufficient number of observations and structural changes in empirical time series analysis occur. Even if there are many similarities in the institutions of both economies, the authors identified different regular periodicities of the waves. The used frequency analysis is a slightly unique approach of business cycle modeling. The analysis of business cycle movements has significant potential to improve economic policy efficiency.

  16. GLOBALIZATION VERSUS SEGREGATION - BUSINESS CYCLES SYNCHRONIZATION IN EUROPE

    Directory of Open Access Journals (Sweden)

    Sebastian Florian Enea

    2012-12-01

    Full Text Available Globalization and business cycles are equally elusive economic phenomena; hence they represent a continuous research possibility and a source of possible inquiries due to their complex nature. The aim of the paper is to explain the synchronization of business cycles using the relationship between the growth rate of the GDP and FDI, considered as percentage of the GDP. The results show that there is no unique European business cycle, but two cores between which countries migrate and stress out the importance of the FDI channel in business cycle transmission. The future research directions will employ fuzzy cluster techniques, used on a larger sample.

  17. Business Cycles in Developing Countries

    DEFF Research Database (Denmark)

    Rand, John; Tarp, Finn

    2002-01-01

    This paper demonstrates that developing countries differ considerably from their developed counterparts when focus is on the nature and characteristics of short run macroeconomic fluctuations. Cycles are generally shorter, and the stylized facts of business cycles across countries are more diverse...... than those of the rather uniform industrialized countries. Supply-side models are generally superior in explaining changes in output, but a “one-size fits all” approach in formulating policy is inappropriate. Our results also illustrate the critical importance of understanding business regularities...

  18. The integrity management cycle as a business process

    Energy Technology Data Exchange (ETDEWEB)

    Ackhurst, Trent B.; Peverelli, Romina P. [PIMS - Pipeline Integrity Management Specialists of London Ltd. (United Kingdom).

    2009-07-01

    It is a best-practice Oil and Gas pipeline integrity and reliability technique to apply integrity management cycles. This is conforms to the business principles of continuous improvement. This paper examines the integrity management cycle - both goals and objectives and subsequent component steps - from a business perspective. Traits that businesses require, to glean maximum benefit from such a cycle, are highlighted. A case study focuses upon an integrity and reliability process developed to apply to pipeline operators. installations. This is compared and contrasted to the pipeline integrity management cycle to underline both cycles. consistency with the principles of continuous improvement. (author)

  19. Frisch on Testing of Business Cycle Theories

    NARCIS (Netherlands)

    Boumans, M.

    1995-01-01

    An important identifying assumption for business cycle models is contained in the mathematical form of the model, which determines the nature of its possible movements. Tinbergen's and Frisch's original understanding of business cycle theories was that of a closed model, containing only endogenous

  20. The Brazilian business and growth cycles

    Directory of Open Access Journals (Sweden)

    Chauvet Marcelle

    2002-01-01

    Full Text Available This paper uses several produceres to date and analyse the Brazilian business and growth cycles. In particular, a Markov switching model is fitted to quarterly and annual real production data. The smoothed probabilities of the Markov states are used as predictive rules to define different phases of cyclical fluctuations of real Brazilian production. The results are compared with different non-parametric rules. All methods implemented yield similar dating and reveal asymmetries across the different states of the Brazilian business and growth cycles, in which slowdowns and recessions are short and abrupt, while high growth phases and expansions are longer and less steep. The resulting dating of the Brazilian economic cycles can be used as a reference point for construction and evaluation of the predictive performance of coincident, leading, or lagging indicators of economic activity. In addition, the filtered probabilities obtained from the Markov switching model allow early recognition of the transition to a new business cycle phase, wich can be used, for example, for evaluation of the adequate strength and timing of countercyclical policies, for reassessment of projected sales or profits by businesses and investors, or for monitoring of inflation pressures.

  1. Changing credit limits, changing business cycles

    DEFF Research Database (Denmark)

    Jensen, Henrik; Ravn, Søren Hove; Santoro, Emiliano

    2017-01-01

    In the last half-century, capital markets across the industrialized world have undergone massive deregulation, involving large increases in the loan-to-value (LTV) ratios of house- holds and firms. We study the business-cycle implications of this phenomenon in an es- timated dynamic general...... macroeconomic volatility, a countercyclical LTV ratio proves to be successful in dampening business cycle fluctuations and, most importantly, avoiding dramatic output drops....

  2. Multinational Firms and Business Cycle Transmission

    DEFF Research Database (Denmark)

    Menno, Dominik Francesco

    This paper studies the effect of foreign direct investment (FDI) on the transmission of international business cycles. I document for the G7 countries between 1991 and 2006 that increases in bilateral FDI linkages are associated with more synchronized investment cycles. I also find...... that the relation between FDI integration and synchronization of gross domestic product (GDP) is - yet positive - statistically insignificant after controlling for time fixed effects. I then study a model of international business cycles with an essential role for FDI and shocks to multinational activity...

  3. Business cycles and mortality: results from Swedish microdata.

    Science.gov (United States)

    Gerdtham, Ulf-G; Johannesson, Magnus

    2005-01-01

    We assess the relationship between business cycles and mortality risk using a large individual level data set on over 40,000 individuals in Sweden who were followed for 10-16 years (leading to over 500,000 person-year observations). We test the effect of six alternative business cycle indicators on the mortality risk: the unemployment rate, the notification rate, the deviation from the GDP trend, the GDP change, the industry capacity utilization, and the industry confidence indicator. For men we find a significant countercyclical relationship between the business cycle and the mortality risk for four of the indicators and a non-significant effect for the other two indicators. For women we cannot reject the null hypothesis of no effect for any of the business cycle indicators.

  4. Educational Business Cycles

    DEFF Research Database (Denmark)

    Tepe, Markus; Vanhuysse, Pieter

    Strong institutional constraints and better-informed voters may lead re-election seeking incumbents to shift the use of political business cycle mechanisms away from monetary and fiscal policy towards other policy domains that are more easily manipulable, targetable, and timeable. We investigate...... teacher employment patterns at the state level in Germany and find strong evidence of cycling mechanisms, in the form of electioneering and honeymooning. Against a backdrop of a continuously shrinking total teachers' pool, German state-level incumbents accelerate the hiring of new teachers during election...... periods and partly reverse this during politically safer points in the electoral cycle. Cycles are mediated by issue salience: heightened attention to German public schooling after the notorious PISA-2000 tests further strengthens the manipulation of new teacher hiring for electoral purposes....

  5. Educational Business Cycles

    DEFF Research Database (Denmark)

    Tepe, Markus; Vanhuysse, Pieter

    2009-01-01

    Strong institutional constraints and better-informed voters may lead re-election seeking incumbents to shift the use of political business cycle mechanisms away from monetary and fiscal policy towards other policy domains that are more easily manipulable, targetable, and timeable. We investigate...... teacher employment patterns at the state level in Germany and find strong evidence of cycling mechanisms, in the form of electioneering and honeymooning. Against a backdrop of a continuously shrinking total teachers' pool, German state-level incumbents accelerate the hiring of new teachers during election...... periods and partly reverse this during politically safer points in the electoral cycle. Cycles are mediated by issue salience: heightened attention to German public schooling after the notorious PISA-2000 tests further strengthens the manipulation of new teacher hiring for electoral purposes....

  6. STUDYING BUSINESS CYCLES SYNCHRONIZATION

    Directory of Open Access Journals (Sweden)

    N. Servetnyk

    2014-06-01

    Full Text Available The paper researches business cycles synchronization. The fluctuations in post-Soviet countries are considered. The study examines different measures of synchronization in groups of countries according to some criteria.

  7. The Uncertainty Multiplier and Business Cycles

    OpenAIRE

    Saijo, Hikaru

    2013-01-01

    I study a business cycle model where agents learn about the state of the economy by accumulating capital. During recessions, agents invest less, and this generates noisier estimates of macroeconomic conditions and an increase in uncertainty. The endogenous increase in aggregate uncertainty further reduces economic activity, which in turn leads to more uncertainty, and so on. Thus, through changes in uncertainty, learning gives rise to a multiplier effect that amplifies business cycles. I use ...

  8. Trend shocks and business cycles in Sub Saharan Africa

    OpenAIRE

    Naoussi , Claude Francis; Tripier , Fabien

    2010-01-01

    This article explores the role of trend shocks in explaining the specificities of business cycles in Sub-Saharan African (SSA) countries using the methodology introduced by Aguiar and Gopinath (2007) [Emerging Market Business Cycles: The Cycle Is the Trend Journal of Political Economy 115(1)]. We specify a small open economy model with transitory and trend shocks on productivity to replicate the differences in the business cycle behavior of output and consumption across countries, especially ...

  9. Which Industries Are Sensitive to Business Cycles?

    Science.gov (United States)

    Berman, Jay; Pfleeger, Janet

    1997-01-01

    An analysis of the 1994-2005 Bureau of Labor Statistics employment projections can be used to identify industries that are projected to move differently with business cycles in the future than with those of the past, and can be used to identify the industries and occupations that are most prone to business cycle swings. (Author)

  10. Economic growth and business cycles

    NARCIS (Netherlands)

    Canton, E.J.F.

    1997-01-01

    This thesis contains five essays on economic growth and business cycles. The main focus is on the interaction between economic growth and the cycle: is cyclical variability good or bad for the long-run rate of economic growth? The introduction aims to provide some empirical evidence for an

  11. Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?

    Directory of Open Access Journals (Sweden)

    Philipp Bagus

    2010-02-01

    Full Text Available Authors in the Austrian tradition have made the credit expansion of a fractional reserve banking system as the prime cause of business cycles. Authors such as Selgin (1988 and White (1999 have argued that a solution to this problem would be a free banking system. They maintain that the competition between banks would limit the credit expansion effectively. Other authors such as Rothbard (1991 and Huerta de Soto (2006 have gone further and advocated a 100 percent reserve banking system ruling out credit expansion altogether. In this article it is argued that a 100 percent reserve system can still bring about business cycles through excessive maturity mismatching between deposits and loans.

  12. The Political Business Cycles of EU Accession Countries

    NARCIS (Netherlands)

    M. Hallerberg; L. Vinhas de Souza

    2000-01-01

    textabstractThis paper considers whether political business cycles exist in Eastern European accession countries. Section I introduces the overall objectives of the work. Section II provides a short introduction to the political business cycle literature. It also considers the role of exchange

  13. Inventories in the Australian business cycle

    OpenAIRE

    Chindamo, Phillip

    2010-01-01

    This Economics Research Note examines inventories in the business cycle for Australia covering the period since the mid 1980s. The Australian Bureau of Statistics (ABS) defines inventories as all materials etc., work in progress and finished goods owned by a business, whether held at locations of the business or elsewhere. These items are usually held by businesses in anticipation of a product’s sale. Inventory investment is counted as an additional contribution to gross domestic product (...

  14. Leverage and Deepening Business Cycle Skewness

    DEFF Research Database (Denmark)

    Jensen, Henrik; Petrella, Ivan; Ravn, Søren Hove

    2017-01-01

    We document that the U.S. economy has been characterized by an increasingly negative business cycle asymmetry over the last three decades. This finding can be explained by the concurrent increase in the financial leverage of households and firms. To support this view, we devise and estimate......, booms become progressively smoother and more prolonged than busts. We are therefore able to reconcile a more negatively skewed business cycle with the Great Moderation in cyclical volatility. Finally, in line with recent empirical evidence, financially-driven expansions lead to deeper contractions...

  15. Is That Fiscal Convergence Provides Business Cycles Synchronization

    OpenAIRE

    Alimi, Nabil; Garbaa, Radhouan

    2014-01-01

    Using a panel of annual data for 29 ODCE countries over the period 1996 2010, we empirically examine if fiscal convergence make business cycles more closely linked. The results suggest that a reduction in fiscal divergence tend to raise the business cycle correlation between a pair of ODCE countries.

  16. Spectral Analysis Of Business Cycles In The Visegrad Group Countries

    Directory of Open Access Journals (Sweden)

    Kijek Arkadiusz

    2017-06-01

    Full Text Available This paper examines the business cycle properties of Visegrad group countries. The main objective is to identify business cycles in these countries and to study the relationships between them. The author applies a modification of the Fourier analysis to estimate cycle amplitudes and frequencies. This allows for a more precise estimation of cycle characteristics than the traditional approach. The cross-spectral analysis of GDP cyclical components for the Czech Republic, Hungary, Poland and Slovakia makes it possible to assess the degree of business cycle synchronization between the countries.

  17. Are there two types of business cycles? a note on crisis detection

    Directory of Open Access Journals (Sweden)

    Robert Pater

    2014-12-01

    Full Text Available Business cycles are highly irregular fluctuations in economic activity. This article attempts to determine whether there are some properties of business cycles that can make them look more regular. This is done by analysing business cycle dynamics, especially by employing and adjusting to contemporary business cycle analysis the theories of growth cycles and classical cycles. The non-homogeneity of business cycles is surveyed in theory and practice with use of ad hoc filtering, spectral analysis and unobserved components models. With their use business cycles are extracted. Several macroeconomic indicators for 32 economies are analysed to draw up additional characteristics of contemporary business cycles. The author proposes that fluctuations in economic activity lasting 8-19 quarters should be called ‘growth cycles’ and those lasting 20-40 quarters – ‘classical cycles’. The value added of this article is the consideration of the two different type of cycles in light of the same methods of extraction, while to date they have been thought of as the ones that can be analysed with use of different methods of extraction. Another innovation is comparison of the cyclicality of different macroeconomic indicators from the point of view of the two types of cycles, while to date they have been analysed in the light of a single business cycle. In the article it is shown that dividing business cycles into such defined classical cycles and growth cycles enables us to understand the differences between the cyclicality of various macroeconomic aggregates and countries. It also enables us to distinguish between smaller downturns and severe recessions. Another conclusion is that the duration of contemporary business cycles around the world closes in a range of 2 to 10 years.

  18. Business-cycle research in marketing

    NARCIS (Netherlands)

    Deleersnyder, Barbara; Dekimpe, Marnik; Wierenga, B.; van der Lans, R.

    The recent Global Financial crisis has reminded companies that macro-economic developments, and especially business-cycle fluctuations, can be among the most influential determinants of a firm’s activities and performance.

  19. Credit Spreads Across the Business Cycle

    DEFF Research Database (Denmark)

    Nielsen, Mads Stenbo

    This paper studies how corporate bond spreads vary with the business cycle. I show that both level and slope of empirical credit spread curves are correlated with the state of the economy, and I link this to variation in idiosyncratic jump risk. I develop a structural credit risk model...... that accounts for both business cycle and jump risk, and show by estimation that the model captures the counter-cyclical level and pro-cyclical slope of empirical credit spread curves. In addition, I provide a new procedure for estimation of idiosyncratic jump risk, which is consistent with observed shocks...

  20. Univariate characterization of the German business cycle 1955-1994

    OpenAIRE

    Weihs, Claus; Garczarek, Ursula

    2002-01-01

    We present a descriptive analysis of stylized facts for the German business cycle. We demonstrate that simple ad-hoc instructions for identifying univariate rules characterizing the German business cycle 1955-1994 lead to an error rate comparable to standard multivariate methods.

  1. Commercialization of nuclear fuel cycle business

    International Nuclear Information System (INIS)

    Yakabe, Hideo

    1998-01-01

    Japan depends on foreign countries almost for establishing nuclear fuel cycle. Accordingly, uranium enrichment, spent fuel reprocessing and the safe treatment and disposal of radioactive waste in Japan is important for securing energy. By these means, the stable supply of enriched uranium, the rise of utilization efficiency of uranium and making nuclear power into home-produced energy can be realized. Also this contributes to the protection of earth resources and the preservation of environment. Japan Nuclear Fuel Co., Ltd. operates four business commercially in Rokkasho, Aomori Prefecture, aiming at the completion of nuclear fuel cycle by the technologies developed by Power Reactor and Nuclear Fuel Development Corporation and the introduction of technologies from foreign countries. The conditions of location of nuclear fuel cycle facilities and the course of the location in Rokkasho are described. In the site of about 740 hectares area, uranium enrichment, burying of low level radioactive waste, fuel reprocessing and high level waste control have been carried out, and three businesses except reprocessing already began the operation. The state of operation of these businesses is reported. Hereafter, efforts will be exerted to the securing of safety through trouble-free operation and cost reduction. (K.I.)

  2. Finnish and Swedish business cycles in a global context

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael

    2008-01-01

    This paper evaluates the decisions made by the Finnish government to join EMU and the Swedish government not to join EMU in the early 1990s. Focusing on the characteristics of business cycles during the postwar period, we find that output fluctuations in Sweden and Finland are correlated to two...... measures of the international business cycle, a European and a non-European cycle. The Finnish cycle has become more synchronized to the European cycle but less synchronized to the non-EU cycle after 1999. For Sweden we find the opposite result. The decision by the Finnish government to join EMU...

  3. The African Political Business Cycle: varieties of Experience

    OpenAIRE

    Mosley, P.; Chiripanhura, B.

    2012-01-01

    We seek to understand both the incidence and the impact of the African political business cycle in the light of a literature which has argued that, with major extensions of democracy since the 1990s, the cycle has both become more intense and has made African political systems more fragile. With the help of country-case studies, we argue, first, that the African political business cycle is not homogeneous, and is rarely encountered in so-called ‘dominant-party systems’ where a pre-election st...

  4. Historical Business Cycles and Market Integration: Evidence from Comovement

    NARCIS (Netherlands)

    Uebele, Martin

    2009-01-01

    This thesis addresses historical business cycles and market integration in Europe and America in the 19th and 20th centuries. For the analysis of historical business cycles, the widely used methodology of historical national accounting is complemented with a dynamic factor model that allows for

  5. Regional Business Cycles in East Asia: Synchronization and its Determinants

    OpenAIRE

    Young-Joon Park

    2013-01-01

    This paper analyzes the dynamics and nature of regional business cycle synchronization for East Asian countries in the period of 2000:Q1-2011:Q4. Estimating a dynamic two-factor model extracts the common factor and the nation- specific factor from both the macroeconomic aggregates and plausible driving forces of regional business cycles. Evidence for regional business cycle synchronization is particularly strong for Korea, Malaysia and the Philippines, while Japan shows weak evidence of regio...

  6. Endogenous money supply and the business cycle

    OpenAIRE

    William T. Gavin; Finn E. Kydland

    1996-01-01

    This paper documents changes in the cyclical behavior of nominal data series that appear after 1979:Q3 when the Federal Reserve implemented a policy to lower the inflation rate. Such changes were not apparent in real variables. A business cycle model with impulses to technology and a role for money is used to show how alternative money supply rules are expected to affect observed business cycle facts. In this model, changes in the money supply rules have almost no effect on the cyclical behav...

  7. Instability of capitalism inflation, unemployment, and business cycles

    Directory of Open Access Journals (Sweden)

    Adil H. Mouhammed

    2006-12-01

    Full Text Available This paper investigates the instability of capitalism defined as a condition under which capitalism creates inflation, unemployment, and business cycles. Great economists such as Marx, Veblen, and Schumpeter have examined this problem, concluding that capitalist instability will transform capitalism. A model is developed in this paper to investigate instability, and the finding is that the basic causebehind instability is the conflict on income share: wages and profits. The fluctuations in the share of profits create inflation, unemployment, and business cycles. This generalization has been verified by using data from the American economy for the 1970s, 1980s, and the 1990s. Over this period, the paper concludes, whenthe profit share is high, moderate inflation and employment were generated, and when profit share is low, inflation, unemployment, and business cycles have appeared.

  8. Business cycle indexes : does a heap of data help?

    NARCIS (Netherlands)

    Inklaar, Robert; Jacobs, Jan; Romp, Ward

    2003-01-01

    Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and

  9. Regional Business Cycles in East Asia: Synchronization and its Determinants

    Directory of Open Access Journals (Sweden)

    Young-Joon Park

    2013-06-01

    Full Text Available This paper analyzes the dynamics and nature of regional business cycle synchronization for East Asian countries in the period of 2000:Q1-2011:Q4. Estimating a dynamic two-factor model extracts the common factor and the nation- specific factor from both the macroeconomic aggregates and plausible driving forces of regional business cycles. Evidence for regional business cycle synchronization is particularly strong for Korea, Malaysia and the Philippines, while Japan shows weak evidence of regional synchronization. On the other hand, Indonesia, Thailand, Singapore and China are decoupling from regional business cycles. The driver of monetary aggregate is the most significant determinant of regional fluctuations of macroeconomic aggregates, whereas oil price and productivity are on average important driving forces of nation-specific fluctuations of real economic activities.

  10. Modeling Business Cycle with Financial Shocks Basing on Kaldor-Kalecki Model

    Directory of Open Access Journals (Sweden)

    Zhenghui Li

    2017-04-01

    Full Text Available The effects of financial factors on real business cycle is rising to one of the most popular discussions in the field of macro business cycle theory. The objective of this paper is to discuss the features of business cycle under financial shocks by quantitative technology. More precisely, we introduce financial shocks into the classical Kaldor-Kalecki business cycle model and study dynamics of the model. The shocks include external shock and internal shock, both of which are expressed as noises. The dynamics of the model can help us understand the effects of financial shocks on business cycle and improve our knowledge about financial business cycle. In the case of external shock, if the intensity of shock is less than some threshold value, the economic system behaves randomly periodically. If the intensity of shock is beyond the threshold value, the economic system will converge to a normalcy. In the case of internal shock, if the intensity of shock is less than some threshold value, the economic system behaves periodically as the case without shock. If the intensity of shock exceeds the threshold value, the economic system either behaves periodically or converges to a normalcy. It is uncertain. The case with both two kinds of shocks is more complicated. We find conditions of the intensities of shocks under which the economic system behaves randomly periodically or disorderly, or converges to normalcy. Discussions about the effects of financial shocks on the business cycle are presented.

  11. Will business cycles in the euro area converge? A critical survey of empirical research

    NARCIS (Netherlands)

    de Haan, J.; Inklaar, R.; Jong-A-Pin, R.

    This survey of business cycle synchronization in the European monetary union focuses on two issues: have business cycles become more similar, and which factors drive business cycle synchronization. We conclude that business cycles in the euro area have gone through periods of both convergence and

  12. Business cycle synchronization in Europe

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Jonung, Lars

    2011-01-01

    In this paper we study business cycle synchronization in the three Scandinavian countries Denmark, Norway and Sweden prior to, during and after the Scandinavian Currency Union 1873–1913. We find that the degree of synchronization tended to increase during the currency union, thus supporting earlier...

  13. Business Cycle Dependent Unemployment Insurance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Svarer, Michael

    The consequences of business cycle contingencies in unemployment insurance systems are considered in a search-matching model allowing for shifts between "good" and "bad" states of nature. We show that not only is there an insurance argument for such contingencies, but there may also be an incentive...

  14. Evidence on Common Feature and Business Cycle Synchronization in Mercosur

    OpenAIRE

    Carrasco-Gutierrez, Carlos Enrique; Reis Gomes, Fábio Augusto

    2007-01-01

    The aim of this work is to analyze the business cycles of Mercosur member countries in order to investigate their degree of synchronization. The econometric model uses the Beveridge-Nelson-Stock-Watson multivariate trend-cycle decomposition, taking into account the presence of common features such as common trend and common cycle. Once the business cycles are estimated, their degree of synchronization is analyzed by means of linear correlation in time domain and coherence and phase in f...

  15. Business Cycle Dynamics in the Euro Area: A Factor-SVAR Approach

    OpenAIRE

    Atilim Seymen

    2009-01-01

    The study investigates the business cycle dynamics in the euro area using an empirical framework which comprises common global and euro area shocks as well as allows bilateral spillovers of country-specific shocks across the member economies. Three core questions lie at the heart of the analysis: (i) To what extent are the business cycles of the euro area countries driven by common and spillover shocks? (ii) What are the extent and sources of business cycle heterogeneity in the euro area? (ii...

  16. Lending Sociodynamics and Drivers of the Financial Business Cycle

    Directory of Open Access Journals (Sweden)

    Raymond J. Hawkins

    2017-10-01

    Full Text Available We extend sociodynamic modeling of the financial business cycle to the Euro Area andJapan. Using an opinion-formation model and machine learning techniques we find stable modelestimation of the financial business cycle using central bank lending surveys and a few selectedmacroeconomic variables. We find that banks have asymmetric response to good and bad economicinformation, and that banks adapt to their peers’ opinions when changing lending policies.

  17. How Does Globalization Affect the Synchronization of Business Cycles?

    OpenAIRE

    Ayhan Kose; Eswar S Prasad; Marco Terrones

    2003-01-01

    This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is mostly limited to industrial countries. One striking resu...

  18. Effective forms of market orientation across the business cycle:a longitudinal analysis of business-to-business firms

    OpenAIRE

    Frösén, Johanna; Jaakkola, Matti; Churakova, Iya; Tikkanen, Henrikki

    2016-01-01

    Macroeconomic developments, such as the business cycle, have a remarkable influence on firms and their perfor- mance. In business-to-business (B-to-B) markets characterized by a strong emphasis on long-term customer relationships, market orientation (MO) provides a particularly important safeguard for firms against fluctuating market forces. Using panel data from an economic upturn and downturn, we examine the effectiveness of differ- ent forms of MO (i.e., customer orientation, competitor or...

  19. Endogenous, Imperfectly Competitive Business Cycles

    DEFF Research Database (Denmark)

    Whitta-Jacobsen, Hans Jørgen

    We investigate how imperfect competition affects the occurrence and the properties of endogenous, rational expectations business cycles in an overlapping generations model with constant returns to scale in production. The model has explicit product and labor markets all characterized...... by monopolistic competition. An implicit assumption of barriers to entry justifies that the number of firms is fixed even when positive profits occur. It turns out that both market power of firms on the product markets and market power of unions on the labor markets make the occurrence of cycles more likely....... In particular, imperfect competition on the product markets and the positive profits associated with it may have the effect that there is a cycle even if the labor supply curve is increasing in the real-wage rate. For competitive cycles is required not only a decreasing labor supply curve, but a wage elasticity...

  20. A Dynamic Analysis of the Business Cycle Model with a Fixed-time Delay

    Directory of Open Access Journals (Sweden)

    Yuhang Zheng

    2017-07-01

    Full Text Available In business activities, there is a certain time lag effect in investment and capital stock, which would affect the dynamic behavior of the business cycle model and then complicate the economic stability adjustment made through investment policies. Considering the influence on investment activities caused by the expectation time about capital stock, this paper, employing the Hopf bifurcation theory, with the delay in investment as the bifurcation parameter, not only studies the equilibrium stability of the business cycle model with a fixed-time delay, but also discusses the formation conditions of the business cycle. The research discovers that the investment lag during the investing process and the expectation time about the capital stock are two crucial incentives of the business cycle; meanwhile, the expecting equilibrium target can be met through the adjustment of the government investment policies. These findings may serve as guidelines in stabilizing the business cycle and making relative economic policies. The conclusion is verified through numerical simulation.

  1. Has globalization increased the synchronicity of international business cycles?

    OpenAIRE

    Berge, Travis

    2012-01-01

    The past 30 years have been witness to an inexorable change in the degree to which economies are connected internationally. At the same time, the 2007-2008 recession was the first ‘global recession’ in decades. This article explores how international trade and cross-border holdings financial assets impact the synchronization of business cycles internationally. The paper begins by producing chronologies of business cycle turning points for a group of 32 major economies covering 40 years of his...

  2. Changing Credit Limits, Changing Business Cycles

    DEFF Research Database (Denmark)

    Jensen, Henrik; Ravn, Søren Hove; Santoro, Emiliano

    In the last decades, capital markets across the industrialized world have undergone massive deregulation, involving increases in the loan-to-value (LTV) ratios of households and firms. We study the business-cycle implications of this phenomenon in a dynamic general equilibrium model with multiple...

  3. Unemployment Duration over the Business Cycle

    DEFF Research Database (Denmark)

    Rosholm, Michael

    1996-01-01

    In this paper I study the way in which individual unemployment durations vary over the business cycle, as measured by the aggregate unemployment rate. I decompose the cyclical variations in observed unemployment durations into a composition al and a general part. The compositional part consists...

  4. Real Business-cycle Model with Habits

    DEFF Research Database (Denmark)

    Khorunzhina, Natalia

    2015-01-01

    This paper empirically investigates the ability of a real business-cycle model with nonseparabilities in consumption and leisure and external habits both in consumption and leisure to fit the postwar US data. The results indicate a strong but fast-dying habit in leisure, and a somewhat weaker...

  5. Monetary transmission and business cycle asymmetry

    NARCIS (Netherlands)

    Kakes, Jan

    1998-01-01

    This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during

  6. The convergence of European business cycles 1978-2000

    Science.gov (United States)

    Ormerod, Paul; Mounfield, Craig

    2002-05-01

    The degree of convergence of the business cycles of the economies of the European Union (EU) is a key policy issue. In particular, a substantial degree of convergence is needed if the European Central Bank is to be capable of setting a monetary policy which is appropriate to the stage of the cycle of the Euro zone economies. We consider the annual rates of real GDP growth on a quarterly basis in the large core economies of the EU (France, Germany and Italy, plus The Netherlands) over the period 1978Q1-2000Q3. An important empirical question is the degree to which the correlations between these growth rates contain true information rather than noise. The technique of random matrix theory is able to answer this question, and has been recently applied successfully in the physics journals to financial markets data. We find that the correlations between the growth rates of the core EU economies contain substantial amounts of true information, and exhibit considerable stability over time. Even in the late 1970s and early 1980s, these economies moved together closely over the course of the business cycle. There was a slight loosening at the time of German re-unification, but the economies are now, if anything, even more closely correlated. As a benchmark for comparison, we add a series to the EU core data set which by construction is uncorrelated with these business cycles. We then analyse the EU core plus Spain, a country which has attached great importance to greater integration with Europe. In the early part of the period examined, the results are very similar to those obtained with the data set of the EU core plus the random series. However, there is a clear trend in the results, which provide strong evidence to support the view that the Spanish economy has now become closely converged with the core EU economies in terms of its movements over the business cycle. In contrast, the results obtained with a data set of the EU core plus the UK show no such trend. In the

  7. Forecasting Macedonian Business Cycle Turning Points Using Qual Var Model

    Directory of Open Access Journals (Sweden)

    Petrovska Magdalena

    2016-09-01

    Full Text Available This paper aims at assessing the usefulness of leading indicators in business cycle research and forecast. Initially we test the predictive power of the economic sentiment indicator (ESI within a static probit model as a leading indicator, commonly perceived to be able to provide a reliable summary of the current economic conditions. We further proceed analyzing how well an extended set of indicators performs in forecasting turning points of the Macedonian business cycle by employing the Qual VAR approach of Dueker (2005. In continuation, we evaluate the quality of the selected indicators in pseudo-out-of-sample context. The results show that the use of survey-based indicators as a complement to macroeconomic data work satisfactory well in capturing the business cycle developments in Macedonia.

  8. Consumer confidence or the business cycle

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Nørholm, Henrik; Rangvid, Jesper

    2014-01-01

    Answer: The business cycle. We show that consumer confidence and the output gap both excess returns on stocks in many European countries: When the output gap is positive (the economy is doing well), expected returns are low, and when consumer confidence is high, expected returns are also low...

  9. The Limits of Schumpeter's Business Cycles

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2006-01-01

    Schumpeter designed Business Cycles as his major work, but it has never received much attention. The problem is partly related to its complex treatment of the theory of waveform economic evolution and the related study of the statistics and history of 150 years of capitalist evolution, but the book...

  10. Teaching Real Business Cycles to Undergraduates

    Science.gov (United States)

    Brevik, Frode; Gartner, Manfred

    2007-01-01

    The authors review the graphical approach to teaching the real business cycle model introduced in Barro. They then look at where this approach cuts corners and suggest refinements. Finally, they compare graphical and exact models by means of impulse-response functions. The graphical models yield reliable qualitative results. Sizable quantitative…

  11. Last hired, first fired? Black-white unemployment and the business cycle.

    Science.gov (United States)

    Couch, Kenneth A; Fairlie, Robert

    2010-02-01

    Studies have tested the claim that blacks are the last hired during periods of economic growth and the first fired in recessions by examining the movement of relative unemployment rates over the business cycle. Any conclusion drawn from this type of analysis must be viewed as tentative because cyclical movements in the underlying transitions into and out of unemployment are not examined. Using Current Population Survey data matched across adjacent months from 1989-2004, this article provides the first detailed examination of labor market transitions for prime-age black and white men to test the last hired, first fired hypothesis. Considerable evidence is presented that blacks are the first fired as the business cycle weakens. However no evidence is found that blacks are the last hired. Instead, blacks appear to be initially hired from the ranks of the unemployed early in the business cycle and later are drawn from nonparticipation. The narrowing of the racial unemployment gap near the peak of the business cycle is driven by a reduction in the rate of job loss for blacks rather than increases in hiring.

  12. Business Cycle Synchronization During US Recessions Since the Beginning of the 1870's

    OpenAIRE

    Nikolaos Antonakakis

    2012-01-01

    This paper examines the synchronization of business cycles across the G7 countries during US recessions since the 1870's. Using a dynamic measure of business cycle synchronization, results depend on the globalisation period under consideration. On average, US recessions have significantly positive effects on business cycle co-movements only in the period following the breakdown of the Bretton Woods system of fixed exchange rates, while strongly decoupling effects among the G7 econ...

  13. Spectral analysis and markov switching model of Indonesia business cycle

    Science.gov (United States)

    Fajar, Muhammad; Darwis, Sutawanir; Darmawan, Gumgum

    2017-03-01

    This study aims to investigate the Indonesia business cycle encompassing the determination of smoothing parameter (λ) on Hodrick-Prescott filter. Subsequently, the components of the filter output cycles were analyzed using a spectral method useful to know its characteristics, and Markov switching regime modeling is made to forecast the probability recession and expansion regimes. The data used in the study is real GDP (1983Q1 - 2016Q2). The results of the study are: a) Hodrick-Prescott filter on real GDP of Indonesia to be optimal when the value of the smoothing parameter is 988.474, b) Indonesia business cycle has amplitude varies between±0.0071 to±0.01024, and the duration is between 4 to 22 quarters, c) the business cycle can be modelled by MSIV-AR (2) but regime periodization is generated this model not perfect exactly with real regime periodzation, and d) Based on the model MSIV-AR (2) obtained long-term probabilities in the expansion regime: 0.4858 and in the recession regime: 0.5142.

  14. Emerging market business cycles: the cycle is the trend

    OpenAIRE

    Mark Aguiar; Gita Gopinath

    2004-01-01

    Business cycles in emerging markets are characterized by strongly counter-cyclical current accounts, consumption volatility that exceeds income volatility, and dramatic “sudden stops” in capital inflows. These features contrast with those of developed, small open economies and highlight the uniqueness of emerging markets. Nevertheless, we show that both qualitatively and quantitatively a standard dynamic stochastic, small open economy model can account for the behavior of both types of market...

  15. Modelling health and output at business cycle horizons for the USA.

    Science.gov (United States)

    Narayan, Paresh Kumar

    2010-07-01

    In this paper we employ a theoretical framework - a simple macro model augmented with health - that draws guidance from the Keynesian view of business cycles to examine the relative importance of permanent and transitory shocks in explaining variations in health expenditure and output at business cycle horizons for the USA. The variance decomposition analysis of shocks reveals that at business cycle horizons permanent shocks explain the bulk of the variations in output, while transitory shocks explain the bulk of the variations in health expenditures. We undertake a shock decomposition analysis for private health expenditures versus public health expenditures and interestingly find that while transitory shocks are more important for private sector expenditures, permanent shocks dominate public health expenditures. Copyright (c) 2009 John Wiley & Sons, Ltd.

  16. Business cycles' correlation and systemic risk of the Japanese supplier-customer network.

    Science.gov (United States)

    Krichene, Hazem; Chakraborty, Abhijit; Inoue, Hiroyasu; Fujiwara, Yoshi

    2017-01-01

    This work aims to study and explain the business cycle correlations of the Japanese production network. We consider the supplier-customer network, which is a directed network representing the trading links between Japanese firms (links from suppliers to customers). The community structure of this network is determined by applying the Infomap algorithm. Each community is defined by its GDP and its associated business cycle. Business cycle correlations between communities are estimated based on copula theory. Then, based on firms' attributes and network topology, these correlations are explained through linear econometric models. The results show strong evidence of business cycle correlations in the Japanese production network. A significant systemic risk is found for high negative or positive shocks. These correlations are explained mainly by the sector and by geographic similarities. Moreover, our results highlight the higher vulnerability of small communities and small firms, which is explained by the disassortative mixing of the production network.

  17. Small business life cycle: statics and dynamics (S

    Directory of Open Access Journals (Sweden)

    Matejun Marek

    2017-12-01

    Full Text Available The aim of the paper is the presentation of theoretical foundations and the structure of original, 8-stage statics and dynamics model in the small business life cycle. Based on theoretical considerations, two hypotheses concerning the impact of dynamic and static nature of the life-cycle stages on selected determinants and effects of SMEs’ development were formulated. The hypotheses were verified based on the results of the survey conducted on a sample of 1,741 SMEs from 22 countries of the European Union. The results indicate that companies in the dynamic life-cycle stages are run by more enterprising owners, operate in more promising markets with a higher potential and make greater use of market niches thus limiting the level of competition. At the same time, such companies are characterised by higher levels of flexibility and involvement in innovative activities, which translates into obtaining a significantly higher level of business performance, in the area of quantitative as well as qualitative results.

  18. BUSINESS CYCLES, ELECTORAL CYCLES. TOWARD A THEORETICAL FRAME OF INTERACTION

    Directory of Open Access Journals (Sweden)

    BOGDAN-LUCIAN DOSPINESCU

    2015-06-01

    Full Text Available The idea of cyclical movement of a system: be it political, economic, institutional, is one of the constants of critical thinking. In this sense, there is a natural cyclic movement that cannot be avoided (only amplified or diminished and is connected with the nature of these systems. The economy follows a cyclical movement; a period of growth follows a period of decline, and so on. So does popularity for political parties or leaders. In this paper, I explore the links between the business cycles and electoral cycles. For this purpose, I introduce the concept of electoral perception cycles. My hypothesis is that popularity of political parties and leaders follow a cyclical evolution, both on short and long term. I show how perception cycles can impact the “political business cycle theory”. There is great interest in political science literature for the factors that influence the fluctuations in Presidents’ popularity, especially from United States. However, very little has been said about Romania’s case. I investigate the hypothesis of electoral perception cycles looking at the popularity of former president Traian Basescu, over his two terms. The variable used to measure popularity is favorability, measured in national surveys, done face to face, on representative samplez, of around 1000 subjects. I’ve correlated the fluctuations in favorability over time, with key public events or political decisions taken by Traian Băsescu. The main findings are as follows. Firstly, there are significant short term fluctuations (short term perception cycles and they are correlated with major events on the agenda. I would point the following key moments: 1. The referendum for dismissal of the President in May 2007 – Traian Băsescu’s favorability increased by 7 percentage points; 2. The referendum for unicameral Parliament with 300 MPs in the fall of 2009. Coupled with victory in the presidential election, it lead to an increase of 10 percentage

  19. Measuring Synchronisation and Convergence of Business Cycles

    NARCIS (Netherlands)

    Koopman, Siem Jan; Azevedo, Joao Valle e

    2003-01-01

    This paper investigates business cycle relations among different economies in theEuro area. Cyclical dynamics are explicitly modelled as part of a time series model. Weintroduce mechanisms that allow for increasing or diminishing phase shifts and for time-varyingassociation patterns in different

  20. How Business Cycles Affect the Healthcare Sector: A Cross-country Investigation.

    Science.gov (United States)

    Cleeren, Kathleen; Lamey, Lien; Meyer, Jan-Hinrich; De Ruyter, Ko

    2016-07-01

    The long-term relationship between the general economy and healthcare expenditures has been extensively researched, to explain differences in healthcare spending between countries, but the midterm (i.e., business cycle) perspective has been overlooked. This study explores business cycle sensitivity in both public and private parts of the healthcare sector across 32 countries. Responses to the business cycle vary notably, both across spending sources and across countries. Whereas in some countries, consumers and/or governments cut back, in others, private and/or public healthcare buyers tend to spend more. We also assess long-term consequences of business cycle sensitivity and show that public cost cutting during economic downturns deflates the mortality rates, whereas private cut backs increase the long-term growth in total healthcare expenditures. Finally, multiple factors help explain variability in cyclical sensitivity. Private cost cuts during economic downturns are smaller in countries with a predominantly publicly funded healthcare system and more preventive public activities. Public cut backs during contractions are smaller in countries that rely more on tax-based resources rather than social health insurances. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.

  1. Has accession to the EU affected business cycles?

    Directory of Open Access Journals (Sweden)

    Panagiotis EVANGELOPOULOS

    2013-02-01

    Full Text Available This paper undertakes to explain the relationship between EU accession and the length of business cycles, focusing specifically on whether participation in a multinational organization has, or has not, altered the length of the cycle. Employing a sample of nine EU countries (Austria, Denmark, Finland, Greece, Ireland, Portugal, Spain, Sweden and the UK we focused initially on annual data for per capita growth in GDP over a period of 59 years (1950-2008. For each country the sample was divided into two parts, one covering the period preceding accession to the EU and one is covering the accession year and succeeding years. Then, eliminating the background noise with the use of a periodogram, we proceeded to examine their spectral density plots. The results indicated that in the first years following accession, the countries tended to experience shorter cycles than they had previously. In the second phase the cycles were of the same duration as previous cycles. Finally, after a period of some years, the length of the cycles increased, as suggested by the J-shaped curve. This J-shaped growth curve applies for the countries that have joined the EU, strongly suggesting a causal relationship between accession to the EU and these specific characterristics of the curve. We cross-checked with a set of four non-EU member countries (Iceland, Norway, Switzerland and Turkey and found no change in the length of the business cycle in these countries.

  2. The US Business Cycle, 1867-2006: A Dynamic Factor Approach

    OpenAIRE

    Ritschl, Albrecht; Sarferaz, Samad; Uebele, Martin

    2016-01-01

    We estimate a Stock/Watson index of economic activity to assess U.S. business cycle volatility since 1867. We replicate the Great Moderation of the 1980s and 1990s and find exceptionally low volatility also in the Golden Age of the 1960s. Postwar moderation relative to pre-1914 occurs under constant but not time-varying factor loadings, suggesting structural change toward more volatile sectors. For comparable series, the U.S. postwar business cycle was as volatile overall as under the Classic...

  3. The Role of Mining in an Australian Business Cycle Model

    OpenAIRE

    Veroude, Alexandra

    2012-01-01

    The purpose of this paper is to evaluate a business cycle model that includes a mining sector, with the cyclical variations of the Australian Economy. Large quantities of mineral deposits are found in Australia and there exists high demand for these minerals from developing nations. This results in the mining sector contributing to a high proportion of GDP. Surprisingly, the inclusion of a mining sector has not previously been studied in a business cycle model. Australia is a small open econo...

  4. International business cycle synchronization since the 1870s: Evidence from a novel network approach

    Science.gov (United States)

    Antonakakis, Nikolaos; Gogas, Periklis; Papadimitriou, Theophilos; Sarantitis, Georgios Antonios

    2016-04-01

    In this study, we examine the issue of business cycle synchronization from a historical perspective in 27 developed and developing countries. Based on a novel complex network approach, the Threshold-Minimum Dominating Set (T-MDS), our results reveal heterogeneous patterns of international business cycle synchronization during fundamental globalization periods since the 1870s. In particular, the proposed methodology reveals that worldwide business cycles de-coupled during the Gold Standard, though they were synchronized during the Great Depression. The Bretton Woods era was associated with a lower degree of synchronization as compared to that during the Great Depression, while worldwide business cycle synchronization increased to unprecedented levels during the latest period of floating exchange rates and the Great Recession.

  5. A Comparison of Business Cycles Synchronization in the Euro Area and Some Potential Monetary Unions

    Directory of Open Access Journals (Sweden)

    Stanislav Kappel

    2015-01-01

    Full Text Available Synchronization of business cycle is one of the main criteria for creation of a monetary union. With increasing synchronization of business cycle, a probability of occurrence of demand and supply shocks, which are asymmetric, decreases. The aim of this contribution is to evaluate synchronicity of business cycle in the euro area and some potential monetary unions. There are MERCOSUR (i.e. Argentina, Brazil, Paraguay, Uruguay and Venezuela, NAFTA (Canada, Mexico and the United States of America. For this aim, correlation analysis and two indexes of cyclical components of GDP are used. The cyclical components of GDP are obtained due to the Hodrick-Prescott filter. The results indicate a high degree of business cycles synchronization among states of the euro area (especially in countries of so called core of the euro area and states of NAFTA. In opposite, a lower degree of business cycles synchronization was reached among states of MERCOSUR. According to the criterion of business cycle synchronization, NAFTA is more appropriate candidate than MERCOSUR for creation monetary area.

  6. Job Displacement and First Birth Over the Business Cycle.

    Science.gov (United States)

    Hofmann, Barbara; Kreyenfeld, Michaela; Uhlendorff, Arne

    2017-06-01

    In this article, we investigate the impact of job displacement on women's first-birth rates as well as the variation in this effect over the business cycle. We use mass layoffs to estimate the causal effects of involuntary job loss on fertility in the short and medium term, up to five years after displacement. Our analysis is based on rich administrative data from Germany, with an observation period spanning more than 20 years. We apply inverse probability weighting (IPW) to flexibly control for the observed differences between women who were and were not displaced. To account for the differences in the composition of the women who were displaced in a downturn and the women who were displaced in an upswing, we use a double weighting estimator. Results show that the extent to which job displacement has adverse effects on fertility depends on the business cycle. The first-birth rates were much lower for women who were displaced in an economic downturn than for those who lost a job in an economic upturn. This result cannot be explained by changes in the observed characteristics of the displaced women over the business cycle.

  7. Trade flows as a channel for the transmission of business cycles

    OpenAIRE

    J.M. BERK

    1997-01-01

    The interdependence between business cycles of different countries has grown in recent decades. Many factors act as conductors of cyclical fluctuations between countries. In this context, the influence of trade flows in the global transmission of business cycles is examined. The author aims to identify empirically the line of causality of international cyclical movements as suggested by trade flows, presenting an estimate of the quantitive importance of trade flows as transmission channel.

  8. Time-to-Degree and the Business Cycle

    Science.gov (United States)

    Messer, Dolores; Wolter, Stefan C.

    2010-01-01

    This paper presents the results of an empirical investigation trying to explain individual time-to-degree variances with business cycle fluctuations. Assuming that students determine the optimum study length at university weighing up the cost of an additional semester against the consumption benefit of studying and not yet working, the general…

  9. Attractor merging crisis in chaotic business cycles

    International Nuclear Information System (INIS)

    Chian, Abraham C.-L.; Borotto, Felix A.; Rempel, Erico L.; Rogers, Colin

    2005-01-01

    A numerical study is performed on a forced-oscillator model of nonlinear business cycles. An attractor merging crisis due to a global bifurcation is analyzed using the unstable periodic orbits and their associated stable and unstable manifolds. Characterization of crisis can improve our ability to forecast sudden major changes in economic systems

  10. Managing Business-to-Business Relationships throughout the E-Commerce Procurement Life Cycle.

    Science.gov (United States)

    Archer, Norm; Yuan, Yufei

    2000-01-01

    Since the core of e-commerce is information and communications, support for managing customer relationships is available to those who know how to use it. Discusses how technology can be used to encourage and facilitate customer-business relationships. Shows through a customer relationship life cycle model how the management of related procurement…

  11. The role of interest rates in the Brazilian business cycles

    Directory of Open Access Journals (Sweden)

    Nelson F. Souza-Sobrinho

    2011-09-01

    Full Text Available This paper offers additional insights on the relationship between interest rates and business cycles in Brazil. First, I document that Brazilian interest rates are very volatile, counter-cyclical and positively correlated with net exports, as observed in other emerging market economies. Next, I present a dynamic stochastic general equilibrium model in which firms face working capital constraints and labor supply is independent of consumption. This parsimonious model, appropriately calibrated to the Brazilian economy, predicts that interest rate shocks can explain about one third of output fluctuations and delivers business cycle regularities consistent with the Brazilian data.

  12. Business cycles, migration and health.

    Science.gov (United States)

    Halliday, Timothy J

    2007-04-01

    We investigate the proposition that illness poses as an obstacle to one's ability to use migration to hedge the business cycle. We employ data on migration, regional unemployment rates and health status from 10 years (1984-1993) of the US Panel Study of Income Dynamics. Our results provide considerable for support this proposition. The evidence is the strongest for men, but we also find weaker evidence for married women. These results suggest that--ceterus paribus--aggregate health outcomes in an area should improve when the regional economy expands.

  13. The Impact of Business Cycle Fluctuations on Graduate School Enrollment

    Science.gov (United States)

    Johnson, Matthew T.

    2013-01-01

    This paper adds to the understanding of student decisions about graduate school attendance by studying the magnitude of the effect of business cycle fluctuations on enrollment. I use data on graduate school enrollment from the Current Population Survey and statewide variation in unemployment rates across time to proxy for changes in business cycle…

  14. The influence of economic business cycles on United States suicide rates.

    Science.gov (United States)

    Wasserman, I M

    1984-01-01

    A number of social science investigators have shown that a downturn in the economy leads to an increase in the suicide rate. However, the previous works on the subject are flawed by the fact that they employ years as their temporal unit of analysis. This time period is so large that it makes it difficult for investigators to precisely determine the length of the lag effect, while at the same time removing the autocorrelation effects. Also, although most works on suicide and the business cycle employ unemployment as a measure of a downturn in the business cycle, the average duration of unemployment represents a better measure for determining the social impact of an economic downturn. From 1947 to 1977 the average monthly duration of unemployment is statistically related to the suicide rate using multivariate time-series analysis. From 1910 to 1939 the Ayres business index, a surrogate measure for movement in the business cycle, is statistically related to the monthly suicide rate. An examination of the findings confirms that in most cases a downturn in the economy causes an increase in the suicide rate.

  15. Business Cycle Dependent Unemployment Benefits with Wealth Heterogeneity and Precautionary Savings

    DEFF Research Database (Denmark)

    Kristoffersen, Mark Strøm

    In the wake of the financial and economic crisis the discussion about social insurance and optimal stabilization policies has re-blossomed. This paper adds to the literature by studying the effects of a business cycle dependent level of unemployment benefits in a model with labor market matching......, wealth heterogeneity, precautionary savings, and aggregate fluctuations in productivity. The results are ambiguous: both procyclical and countercyclical unemployment benefits can increase welfare relative to business cycle invariant benefits. Procyclical benefits are beneficial due to countercyclicality...

  16. New approaches to business cycle theory in current economic science

    Directory of Open Access Journals (Sweden)

    Monica DOBRESCU

    2012-07-01

    Full Text Available In modern economies, current research generally acknowledges that the central issues in macroeconomics are essentially the same as those identified by Keynes in the General Theory of Employment, Interest and Money. One way or the other, economists are trying to address the same macroeconomic issues that they did seven decades ago: How can we account for the different growth rates and various fluctuations observed in national economies? Which are the economic policies most suitable to solve the issues of growth and cyclic behavior? Both the new classicals and the new Keynesians have made considerable progress within their research paradigms: to explain economic fluctuations, the new classicals focus on technological perturbations, the intertemporal substitution of leisure and real business cycles; on the other hand, the new Keynesians speak in terms of monopolistic competition, menu costs or efficiency wages. On the whole, the new classicals believe that the business cycle can best be understood within the market-clearing model, whereas the new keynesians believe that business fluctuations are due to certain market failures of various sorts.The present paper focuses on the main directions of research of the new classical school on the business cycle, given that the theoretical progress in this field has been significant and relevant for economic policy during the past four decades.

  17. Anticipated growth and business cycles in matching models

    NARCIS (Netherlands)

    den Haan, W.J.; Kaltenbrunner, G.

    2009-01-01

    In a business cycle model that incorporates a standard matching framework, employment increases in response to news shocks, even though the wealth effect associated with the increase in expected productivity reduces labor force participation. The reason is that the matching friction induces

  18. The Effect of the Great Moderation on the U.S. Business Cycle in a Time-varying Multivariate Trend-cycle Model

    OpenAIRE

    Drew Creal; Siem Jan Koopman; Eric Zivot

    2008-01-01

    In this paper we investigate whether the dynamic properties of the U.S. business cycle have changed in the last fifty years. For this purpose we develop a flexible business cycle indicator that is constructed from a moderate set of macroeconomic time series. The coincident economic indicator is based on a multivariate trend-cycle decomposition model that accounts for time variation in macroeconomic volatility, known as the great moderation. In particular, we consider an unobserved components ...

  19. The South African business cycle: what has changed?

    Directory of Open Access Journals (Sweden)

    Philippe Burger

    2011-05-01

    Full Text Available This paper identifies the basic empirical characteristics and changes of the South African business cycle since 1960. As such, the paper examines changes in volatility as well as the co-movement between several national account variables and real GDP. To examine the co-movements the paper follows Kydland and Prescott, Gavin and Kydland as well as Bergman, Bordo and Jonung and uses correlation coefficients and Granger causality tests. Following Ramos, the paper extends the results of the Granger causality tests using variance decomposition analysis in the context of a VAR (vector auto regression to establish the contribution that selected national account variables make to the h-period-ahead forecast error variance of themselves and the other variables included in the VARs. The paper indicates that since 1994 volatility in the South African economy decreased significantly, while durable consumption appears to lead the business cycle.

  20. The Keynesian Approach of Business Cycle and Economic Crises and its Criticism

    Directory of Open Access Journals (Sweden)

    Ionela Bălțătescu

    2009-10-01

    Full Text Available The main purpose of this article is to briefly present the Keynesian explanation of business cycle, economic fluctuation and crises, and also the solutions proposed from Keynesian perspective to the economic problems that characterize the bust phases of the business cycles (unemployment, recessions. In the fourth section of the article some criticisms of the Keynesian theoretical approach of the economic crises are considered and summarized.

  1. An approximate analysis of expected cycle time in business process execution

    NARCIS (Netherlands)

    Ha, B.H.; Reijers, H.A.; Bae, J.; Bae, H.; Eder, J.; Dustdar, S

    2006-01-01

    The accurate prediction of business process performance during its design phase can facilitate the assessment of existing processes and the generation of alternatives. In this paper, an approximation method to estimate the cycle time of a business process is introduced. First, we propose a process

  2. Essays on oil and business cycles in Saudi Arabia

    Science.gov (United States)

    Aba Alkhail, Bandar A.

    This dissertation consists of three chapters. Chapter one presents a theoretical model using a dynamic stochastic general equilibrium (DSGE) approach to investigate the role of world oil prices in explaining the business cycle in Saudi Arabia. This model incorporates both productivity and oil revenue shocks. The results indicate that productivity shocks are relatively more important to business cycles than oil shocks. However, this model has some unfavorable features that are associated with both investment and labor hours. The second chapter presents a modified theoretical model using DSGE approach to examine the role of world oil prices versus productivity shocks in explaining the business cycles in Saudi Arabia. To overcome the unfavorable features of the baseline model, the alternative model adds friction to the model by incorporating investment portfolio adjustment cost. Thus, the alternative model produces similar dynamics to that of the baseline model but the unfavorable characteristics are eliminated. Also, this chapter conducts sensitivity analysis. The objective of the third chapter is to empirically investigate how real world oil price and productivity shocks affect output, consumption, investment, labor hours, and trade balance/output ratio for Saudi Arabia. This chapter complements the theoretical model of the previous chapters. In addition, this study builds a foundation for future studies in examining the impact of real world oil price shocks on the economies of key trade partners of Saudi Arabia. The results of the third chapter show that productivity shocks matter more for macroeconomic fluctuations than oil shocks for the Saudis' primary trade partners. Therefore, fears of oil importing countries appear to be overstated. As a whole, this research is important for the following reasons. First, the empirical model is consistent with the predictions of our theoretical model in that productivity is a driving force of business cycles in Saudi Arabia

  3. Changes in International Business Cycle Affiliations

    OpenAIRE

    Erdenebat Bataa; Denise R. Osborn; Marianne Sensier; Dick van Dijk

    2009-01-01

    We investigate changes in international business cycle affiliations using an iterative procedure for detecting system-wide structural breaks. We analyze GDP growth rates in two systems, one with the US, Euro-area, UK and Canada and the other for the Euro-area countries of France, Germany and Italy. We discover that international dynamic interactions change in both the mid-1980s and early 1990s, with such changes being particularly important for studying influences on the aggregate Euro-area. ...

  4. International and Domestic Business Cycles as Dynamics of a Network of Networks

    Science.gov (United States)

    Ikeda, Yuichi; Iyetomi, Hiroshi; Aoyama, Hideaki; Yoshikawa, Hiroshi

    2014-03-01

    Synchronization in business cycles has attracted economists and physicists as self-organization in the time domain. From a different point of view, international and domestic business cycles are also interesting as dynamics of a network of networks or a multi-level network. In this paper, we analyze the Indices of Industrial Production monthly time-series in Japan from January 1988 to December 2007 to develop a deeper understanding of domestic business cycles. The frequency entrainment and the partial phase locking were observed for the 16 sectors to be direct evidence of synchronization. We also showed that the information of the economic shock is carried by the phase time-series. The common shock and individual shocks are separated using phase time-series. The former dominates the economic recession in all of 1992, 1998 and 2001. In addition to the above analysis, we analyze the quarterly GDP time series for Australia, Canada, France, Italy, the United Kingdom, and the United States from Q2 1960 to Q1 2010 in order to clarify its origin. We find frequency entrainment and partial phase locking. Furthermore, a coupled limit-cycle oscillator model is developed to explain the mechanism of synchronization. In this model, the interaction due to international trade is interpreted as the origin of the synchronization. The obtained results suggest that the business cycle may be described as a dynamics of the multi-level coupled oscillators exposed to random individual shocks.

  5. Economic intermittency in a two-country model of business cycles coupled by investment

    Energy Technology Data Exchange (ETDEWEB)

    Saiki, Y., E-mail: saiki@math.sci.hokudai.ac.jp [Department of Mathematics, Hokkaido University, Sapporo 060-0810 (Japan); Chian, A.C.L. [National Institute for Space Research (INPE) and World Institute for Space Environment Research (WISER), P.O. Box 515, Sao Jose dos Campos-SP 12227-010 (Brazil); California Institute of Technology, Pasadena, CA 91125 (United States); Yoshida, H. [College of Economics, Nihon University, Tokyo 101-8360 (Japan)

    2011-06-15

    Highlights: > Intermittent economic behavior of Keynes-Goodwin type model is investigated. > After a transition the system keeps its memory before the transition. > The intermittent phenomena is examined from the business cycle patterns. > It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  6. Economic intermittency in a two-country model of business cycles coupled by investment

    International Nuclear Information System (INIS)

    Saiki, Y.; Chian, A.C.L.; Yoshida, H.

    2011-01-01

    Highlights: → Intermittent economic behavior of Keynes-Goodwin type model is investigated. → After a transition the system keeps its memory before the transition. → The intermittent phenomena is examined from the business cycle patterns. → It is concluded that dynamical patterns do not alter much around the transition. - Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes-Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

  7. A Simple Model to Teach Business Cycle Macroeconomics for Emerging Market and Developing Economies

    Science.gov (United States)

    Duncan, Roberto

    2015-01-01

    The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies. The author reformulates the model proposed by Aguiar and Gopinath (2007) in a simple setting that can be used to teach business cycle macroeconomics for emerging market and developing economies at the…

  8. Advertising and price effectiveness over the business cycle

    NARCIS (Netherlands)

    Gijsenberg, Maarten; van Heerde, Harald; Dekimpe, Marnik G.; Steenkamp, Jan-Benedict E. M.

    2009-01-01

    In this study, the authors conduct a systematic investigation on the evolution in the effectiveness of two important marketing mix instruments, advertising and price, over the business cycle. Analyses are based on 163 branded products in 37 mature CPG categories in the UK, and this for a period of

  9. National Business Cycles and Community Competition for Jobs.

    Science.gov (United States)

    Kasarda, John D.; Irwin, Michael D.

    1991-01-01

    Analysis of employment change data for 3,101 counties during recent national recession and recovery periods found that factors derived from human ecological theory (density, infrastructure age, unionization, labor force education, and crime rate) best predicted local competitive dynamics across all business-cycle phases. Contains 60 references.…

  10. Business cycle and innovation activity in medium-high and high technology industry in Poland

    Directory of Open Access Journals (Sweden)

    Dzikowski Piotr

    2015-12-01

    Full Text Available This article examines differences in an impact of business cycle phases on innovation activity in medium-high and high technology industry in Poland. It is assumed that each business cycle phase influences innovation activity in the same fashion, but its impact varies and it depends on the firm’s innovation activity. The higher innovation activity the less impact of business cycle. The scope of the survey relates to innovation in MHT and HT industry in Poland. The data concerns the innovation at the firm level and the diffusion “new for the company”. Innovation activity is defined by the following activities: (1 expenditure on research and development and investments in fixed assets not used so far such as: abuildings, premises and land; b machinery and equipment, c computer software; (2 implementation of new products and technological processes and (3 innovation cooperation. The methodological part of the analysis includes a logit modeling. The survey includes 1355 companies. Business cycle has a great influence on innovation activity in MTH and HT industry in Poland. The influence of recovery phase is positive whereas both stagnation and recession phases decrease the probability of innovation activity. The character of influence depends on the propensity to take innovation activity. The higher level of innovation activity the enterprises present the less influence of business cycle they get.

  11. Dynamical analysis of the global business-cycle synchronization.

    Science.gov (United States)

    Lopes, António M; Tenreiro Machado, J A; Huffstot, John S; Mata, Maria Eugénia

    2018-01-01

    This paper reports the dynamical analysis of the business cycles of 12 (developed and developing) countries over the last 56 years by applying computational techniques used for tackling complex systems. They reveal long-term convergence and country-level interconnections because of close contagion effects caused by bilateral networking exposure. Interconnectivity determines the magnitude of cross-border impacts. Local features and shock propagation complexity also may be true engines for local configuration of cycles. The algorithmic modeling proves to represent a solid approach to study the complex dynamics involved in the world economies.

  12. Dynamical analysis of the global business-cycle synchronization

    Science.gov (United States)

    2018-01-01

    This paper reports the dynamical analysis of the business cycles of 12 (developed and developing) countries over the last 56 years by applying computational techniques used for tackling complex systems. They reveal long-term convergence and country-level interconnections because of close contagion effects caused by bilateral networking exposure. Interconnectivity determines the magnitude of cross-border impacts. Local features and shock propagation complexity also may be true engines for local configuration of cycles. The algorithmic modeling proves to represent a solid approach to study the complex dynamics involved in the world economies. PMID:29408909

  13. Patterns and determinants of business cycle synchronization in the enlarged European Economic and Monetary Union

    Directory of Open Access Journals (Sweden)

    Iulia SIEDSCHLAG

    2010-06-01

    Full Text Available This paper provides empirical evidence about the degree of business cycle synchronization between the euro area countries and eight new European Union member states. We analyze the direct and indirect effects of similarity of economic structures and trade intensity on the co-movement of fluctuations of economic activity across these countries and find that bilateral similarity of economic structures and trade intensity were positively and significantly associated with business cycle correlations. This result is robust to different estimation techniques. Similarity of economic structures had an additional indirect positive effect on business cycle synchronization via its positive effect on trade intensity. The bilateral business cycle correlations are found to be endogenous with respect to bilateral similarity of economic structures and bilateral trade intensity suggesting that the new European Union countries will better satisfy the Optimum Currency Area criteria after the adoption of the euro.

  14. QR-GARCH-M Model for Risk-Return Tradeoff in U.S. Stock Returns and Business Cycles

    OpenAIRE

    Nyberg, Henri

    2010-01-01

    In the empirical finance literature findings on the risk return tradeoff in excess stock market returns are ambiguous. In this study, we develop a new QR-GARCH-M model combining a probit model for a binary business cycle indicator and a regime switching GARCH-in-mean model for excess stock market return with the business cycle indicator defining the regime. Estimation results show that there is statistically significant variation in the U.S. excess stock returns over the business cycle. Howev...

  15. Business Cycle Volatility and Globalization: A Survey

    OpenAIRE

    Claudia M. Buch

    2002-01-01

    The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the possibility that business cycle volatility might increase. Rapid and badly co-ordinated capital account liberalization has been blamed for enhancing the vulnerability of emerging markets to unstable in...

  16. The inherent complexity in nonlinear business cycle model in resonance

    International Nuclear Information System (INIS)

    Ma Junhai; Sun Tao; Liu Lixia

    2008-01-01

    Based on Abraham C.-L. Chian's research, we applied nonlinear dynamic system theory to study the first-order and second-order approximate solutions to one category of the nonlinear business cycle model in resonance condition. We have also analyzed the relation between amplitude and phase of second-order approximate solutions as well as the relation between outer excitements' amplitude, frequency approximate solutions, and system bifurcation parameters. Then we studied the system quasi-periodical solutions, annulus periodical solutions and the path leading to system bifurcation and chaotic state with different parameter combinations. Finally, we conducted some numerical simulations for various complicated circumstances. Therefore this research will lay solid foundation for detecting the complexity of business cycles and systems in the future

  17. The US business cycle: power law scaling for interacting units with complex internal structure

    Science.gov (United States)

    Ormerod, Paul

    2002-11-01

    In the social sciences, there is increasing evidence of the existence of power law distributions. The distribution of recessions in capitalist economies has recently been shown to follow such a distribution. The preferred explanation for this is self-organised criticality. Gene Stanley and colleagues propose an alternative, namely that power law scaling can arise from the interplay between random multiplicative growth and the complex structure of the units composing the system. This paper offers a parsimonious model of the US business cycle based on similar principles. The business cycle, along with long-term growth, is one of the two features which distinguishes capitalism from all previously existing societies. Yet, economics lacks a satisfactory theory of the cycle. The source of cycles is posited in economic theory to be a series of random shocks which are external to the system. In this model, the cycle is an internal feature of the system, arising from the level of industrial concentration of the agents and the interactions between them. The model-in contrast to existing economic theories of the cycle-accounts for the key features of output growth in the US business cycle in the 20th century.

  18. The stability problem in the Kaldor-Kalecki business cycle model

    International Nuclear Information System (INIS)

    SzydIowski, Marek; Krawiec, Adam

    2005-01-01

    We consider the Kaldor-Kalecki model of the business cycle which is the modified Kaldor model with the Kalecki time delay in investment. The model is formulated in terms of a second-order nonlinear delay differential equation with a negative feedback. We investigate the problem of stability of cycles caused by retarded action. The method of a centre manifold is used to find the conditions for the Hopf bifurcation. The conditions for stability of limit cycles on the centre manifold is given

  19. Understanding the importance of permanent and transitory shocks at business cycle horizons for the UK

    Science.gov (United States)

    Narayan, Paresh Kumar

    2008-05-01

    The goal of this paper is to examine the relative importance of permanent and transitory shocks in explaining variations in macroeconomic aggregates for the UK at business cycle horizons. Using the common trend-common cycle restrictions, we estimate a variance decomposition of shocks, and find that over short horizons the bulk of the variations in income and consumption were due to permanent shocks while transitory shocks explain the bulk of the variations in investment. Our findings for income and consumption are consistent with real business cycle models which emphasize the role of aggregate supply shocks, while our findings for investment are consistent with the Keynesian school of thought, which emphasizes the role of aggregate demand shocks in explaining business cycles.

  20. Lumpy investment, sectoral propagation, and business cycles (Invited Paper)

    Science.gov (United States)

    Nirei, Makoto

    2005-05-01

    This paper proposes a model of endogenous fluctuations in investment. A monopolistic producer has an incentive to invest when the aggregate demand is high. The investment at the firm level is also known to exhibit a threshold behavior called an (S,s) policy. These two facts lead us to consider that the fluctuation in aggregate investment is generated by the global coupling of the non-linear oscillators. From this perspective, we characterize the probability distribution of the investment clustering in a partial equilibrium of product markets, and show that its variance can be large enough to match the observed investment fluctuations. We then implement this mechanism in a dynamic general equilibrium model to explore an investment-driven business cycle. By calibrating the model with the SIC 4-digit level industry data, we numerically show that the model replicates the basic structure of the business cycles.

  1. Various problems in establishment of fuel cycle business in Japan

    International Nuclear Information System (INIS)

    Murata, Hiroshi

    1985-01-01

    Since Japan instituted the Atomic Energy Act in 1956, and organized the Atomic Energy Commission, as the fundamental policy of the peaceful use of atomic energy, the industrialization and establishment of fuel cycle technology have been advanced as well as the development of power reactors. The consistent and harmonious industrialization of uranium enrichment, fuel fabrication, reprocessing, the utilization of recovered plutonium and uranium, and the storage, treatment and disposal of wastes has been the target. As the nuclear power generation in Japan grew, the enhancement of the various factors of nuclear fuel cycle as the base of supporting nuclear power generation has become necessary. The effort of technical development has been continued in the fields of uranium enrichment, fuel reprocessing, plutonium fuel and waste treatment by the Power Reactor and Nuclear Fuel Development Corp., Japan Atomic Energy Research Institute and related industries. The plan and present status of nuclear fuel cycle business in Japan, the problems such as the roles of the government and private enterprises, technology transfer, the economy of nuclear fuel cycle business, the industrialization of mixed oxide fuel fabrication, nuclear nonproliferation policy and location are discussed. (Kako, I.)

  2. Impulse or propagation? How the tides turned in Business Cycle Theory

    NARCIS (Netherlands)

    Reijnders, J.P.G.

    This paper contains a short history of business cycle theory. It is argued that in the course of time the emphasis shifted from a mainly exogenous to a mainly endogenous explanation of the cycle. After the integration of the two approaches in the so-called impulse and propagation theory, the balance

  3. Endogenous Business Cycle Dynamics within Metzlers Inventory Model: Adding an Inventory Floor.

    Science.gov (United States)

    Sushko, Irina; Wegener, Michael; Westerhoff, Frank; Zaklan, Georg

    2009-04-01

    Metzlers inventory model may produce dampened fluctuations in economic activity, thus contributing to our understanding of business cycle dynamics. For some parameter combinations, however, the model generates oscillations with increasing amplitude, implying that the inventory stock of firms eventually turns negative. Taking this observation into account, we reformulate Metzlers model by simply putting a floor to the inventory level. Within the new piecewise linear model, endogenous business cycle dynamics may now be triggered via a center bifurcation, i.e. for certain parameter combinations production changes are (quasi-)periodic.

  4. Liquidity and the business cycle: Empirical evidence from the Greek banking sector

    Directory of Open Access Journals (Sweden)

    Vogiazas Sophocles

    2013-01-01

    Full Text Available In the aftermath of the global financial turmoil the negative market sentiment and the challenging macroeconomic environment in Greece have severely affected the banking sector, which faces funding and liquidity challenges, deteriorating asset quality, and weakening profitability. This paper aims to investigate how banks’ liquidity interacted with solvency and the business cycle during the period 2004-2010. To this end a panel of 17 Greek banks is utilized which, in conjunction with cointegrating techniques and one-way static and dynamic panel models, explores the presence and the strength of the relationship between banks’ liquidity and the business cycle, while allowing for the role of banks’ solvency. Addressing the liquidity risk of the Greek banking sector and the liquidity-solvency nexus remains largely an uncharted area. The results generated provide clear-cut evidence on the linkages between banks’ market liquidity and the business cycle, as reflected in the real GDP and the effective exchange rate. Yet the results display a transmission channel that runs from banks’ solvency to liquidity and from country risk to bank risk.

  5. Understanding the Evolution of World Business Cycles

    OpenAIRE

    Ayhan Kose; Christopher Otrok; Charles H. Whiteman

    2005-01-01

    This paper studies the changes in world business cycles during 1960-2003. We employ a Bayesian dynamic latent factor model to estimate common and country-specific components in the main macroeconomic aggregates of the Group of Seven (G-7) countries. We then quantify the relative importance of these components in explaining comovement in each observable aggregate over three distinct time periods: the Bretton Woods (BW) period (1960-72), the period of common shocks (1972-86), and the globalizat...

  6. Using complex networks to characterize international business cycles.

    Science.gov (United States)

    Caraiani, Petre

    2013-01-01

    There is a rapidly expanding literature on the application of complex networks in economics that focused mostly on stock markets. In this paper, we discuss an application of complex networks to study international business cycles. We construct complex networks based on GDP data from two data sets on G7 and OECD economies. Besides the well-known correlation-based networks, we also use a specific tool for presenting causality in economics, the Granger causality. We consider different filtering methods to derive the stationary component of the GDP series for each of the countries in the samples. The networks were found to be sensitive to the detrending method. While the correlation networks provide information on comovement between the national economies, the Granger causality networks can better predict fluctuations in countries' GDP. By using them, we can obtain directed networks allows us to determine the relative influence of different countries on the global economy network. The US appears as the key player for both the G7 and OECD samples. The use of complex networks is valuable for understanding the business cycle comovements at an international level.

  7. Using complex networks to characterize international business cycles.

    Directory of Open Access Journals (Sweden)

    Petre Caraiani

    Full Text Available BACKGROUND: There is a rapidly expanding literature on the application of complex networks in economics that focused mostly on stock markets. In this paper, we discuss an application of complex networks to study international business cycles. METHODOLOGY/PRINCIPAL FINDINGS: We construct complex networks based on GDP data from two data sets on G7 and OECD economies. Besides the well-known correlation-based networks, we also use a specific tool for presenting causality in economics, the Granger causality. We consider different filtering methods to derive the stationary component of the GDP series for each of the countries in the samples. The networks were found to be sensitive to the detrending method. While the correlation networks provide information on comovement between the national economies, the Granger causality networks can better predict fluctuations in countries' GDP. By using them, we can obtain directed networks allows us to determine the relative influence of different countries on the global economy network. The US appears as the key player for both the G7 and OECD samples. CONCLUSION: The use of complex networks is valuable for understanding the business cycle comovements at an international level.

  8. Rokkashomura: debut of the nuclear fuel cycle business

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    Japan Nuclear Fuel Industries and local governments signed the safety agreement, and the work began to initiate the operation of a uranium enrichment plant. In this way, the national Rokkashomura project to be constructed with the total cost of 1.2 trillion yen marked the debut of nuclear fuel cycle business in Japan. The public hearing concerning the low level radioactive waste storage facility was finished. However, a fuel reprocessing plant has not advanced since the national government did not clarify the policy for the management of high level rad-waste from the plant. Gubernatorial election was the best thing to happen for the public acceptance, and the local opposition movement lost steam. The operation of the uranium enrichment plant is to begin next January, and the construction of the low level waste storage facility proceeds on schedule. Regarding the fuel reprocessing plant, the public hearing is to be held in autumn, but it faces difficulties. The siting of nuclear fuel cycle facilities has already produced benefits for the local economy. 18 business establishments representing 15 firms have so far decided to open in Aomori Prefecture. JNFI and JNFS began the specific study for merger. (K.I.)

  9. The business cycle and the incidence of workplace injuries: evidence from the U.S.A.

    Science.gov (United States)

    Asfaw, Abay; Pana-Cryan, Regina; Rosa, Roger

    2011-02-01

    The current study explored the association between the business cycle and the incidence of workplace injuries to identify cyclically sensitive industries and the relative contribution of physical capital and labor utilization within industries. Bureau of Labor Statistics nonfatal injury rates from 1976 through 2007 were examined across five industry sectors with respect to several macroeconomic indicators. Within industries, injury associations with utilization of labor and physical capital over time were tested using time series regression methods. Pro-cyclical associations between business cycle indicators and injury incidence were observed in mining, construction, and manufacturing but not in agriculture or trade. Physical capital utilization was the highest potential contributor to injuries in mining while labor utilization was the highest potential contributor in construction. In manufacturing each effect had a similar association with injuries. The incidence of workplace injury is associated with the business cycle. However, the degree of association and the mechanisms through with the business cycle affects the incidence of workplace injuries was not the same across industries. The results suggest that firms in the construction, manufacturing, and mining industries should take additional precautionary safety measures during cyclical upturns. Potential differences among industries in the mechanisms through which the business cycle affects injury incidence suggest different protective strategies for those industries. For example, in construction, additional efforts might be undertaken to ensure workers are adequately trained and not excessively fatigued, while safety procedures continue to be followed even during boom times. Published by Elsevier Ltd.

  10. When Arm’s Length is Too Far: Relationship Banking over the Business Cycle

    OpenAIRE

    Beck, T.H.L.; Degryse, H.A.; de Haas, R.; van Horen, N.

    2014-01-01

    Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two contrasting points of the business cycle. We show that relationship lending alleviates credit constraints during a cyclical downturn but not during a boom period. The positive impact of relationship lend...

  11. Environmental macroeconomics : Environmental policy, business cycles, and directed technical change

    NARCIS (Netherlands)

    Fischer, Carolyn; Heutel, Garth

    Environmental economics has traditionally fallen in the domain of microeconomics, but approaches from macroeconomics have recently been applied to studying environmental policy. We focus on two macroeconomic tools and their application to environmental economics. First, real-business-cycle models

  12. Analysis of stochastic effects in Kaldor-type business cycle discrete model

    Science.gov (United States)

    Bashkirtseva, Irina; Ryashko, Lev; Sysolyatina, Anna

    2016-07-01

    We study nonlinear stochastic phenomena in the discrete Kaldor model of business cycles. A numerical parametric analysis of stochastically forced attractors (equilibria, closed invariant curves, discrete cycles) of this model is performed using the stochastic sensitivity functions technique. A spatial arrangement of random states in stochastic attractors is modeled by confidence domains. The phenomenon of noise-induced transitions ;chaos-order; is discussed.

  13. A comparison of exchange economies within a monetary business cycle

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, E2005/14 (2005), s. 1-26 ISSN 1749-6101 Institutional research plan: CEZ:AV0Z70850503 Keywords : cash-in-advance * credit production * monetary business cycle Subject RIV: AH - Economics http://www.cardiff.ac.uk/carbs/econ/workingpapers/papers/2005_14.pdf

  14. Political Business Cycles in Turkey: A Fiscal Approach(Türkiye’de Politik İş Çevrimleri: Mali Bir Yaklaşım

    Directory of Open Access Journals (Sweden)

    Mesut KARAKAŞ

    2013-01-01

    Full Text Available Political business cycle studies have arisen as alternatives to pure business cycle studies. The studies in the political business cycle area mainly try to answer the question that whether the voters are manipulated in election periods or not. Also, the methods which the politicians use to be re-elected are uncovered. In this paper, we ask the question whether there are opportunistic political business cycles in Turkey or not. Our study focuses on the fiscal policies to discover the Turkish case. We use simple but powerful time series models in ARMA context to discover the relationships between political business cycles and fiscal variables. Empirical results show that there are quite perfect opportunistic political business cycles in Turkey.

  15. What Inventory Behavior Tells Us about Business Cycles

    OpenAIRE

    James A. Kahn; Mark Bils

    2000-01-01

    Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries, alternative measures of marginal cost that attribute high-frequency productivity shocks to procyclical work effort, and find that they are much more successful in accounting for inventory behavior. The difference is attributable to cyclicality in the shadow p...

  16. Business cycles in small, open economies: Evidence from panel data between 1900 and 2013

    OpenAIRE

    Miyamoto, Wataru; Nguyen, Thuy Lan

    2016-01-01

    Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. We find that financial frictions are an important feature for not only developing countries but also small developed countries. Furthermore, business cycles in both groups of countries are marked with trend ...

  17. The impact of the business cycle on service providers : Insights from international tourism

    NARCIS (Netherlands)

    Dekimpe, Marnik; Peers, Yuri; van Heerde, H.J.

    For service providers, it is essential to understand how their business is affected by the macroeconomy. This is especially pressing for the tourism sector, the world’s largest export service, because the number of incoming visitors is likely to be strongly determined by the business cycles in the

  18. Business cycle research in marketing : A review and research agenda

    NARCIS (Netherlands)

    Dekimpe, Marnik; Deleersnyder, Barbara

    Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm

  19. Application of the Experiential Learning Cycle in Learning from a Business Simulation Game

    Science.gov (United States)

    Ahn, Jung-Hoon

    2008-01-01

    The purpose of this study was to investigate the effects of engaging students in Kolb's experiential learning cycle on facilitating students' simulation game performance and knowledge application skills in learning with a business simulation game. A sample was drawn from a population of business-major undergraduate students at the School of…

  20. Bank stock returns, leverage and the business cycle

    OpenAIRE

    Jing Yang; Kostas Tsatsaronis

    2012-01-01

    The returns on bank stocks rise and fall with the business cycle, making bank equity financing cheaper in the boom and dearer during a recession. This provides support for prudential tools that give incentives for banks to build capital buffers at times when the cost of equity is lower. In addition, banks with higher leverage face a higher cost of equity, which suggests that higher capital ratios are associated with lower funding costs.

  1. Overdeterminacy and endogenous cycles: Trygve Haavelmo’s business cycle model and its implications for monetary policy

    OpenAIRE

    Kallåk Anundsen , André; Sigurd Holmsen Krogh, Tord; Nymoen, Ragnar; Vislie, Jon

    2011-01-01

    This paper presents the business cycle model that Trygve Haavelmo developed as part of his research program in macroeconomic and monetary theory. Driven by a mismatch between the marginal return to capital and the rate of return required by capital owners, this model generates endogenous cycles. The theory leads to a distinct analysis of the scope and limitations of monetary policy. A main message of the model is that care should be taken when conducting 'autonomous' monetary policy and that ...

  2. Tourist Demand Reactions: Symmetric or Asymmetric across the Business Cycle?

    Science.gov (United States)

    Bronner, Fred; de Hoog, Robert

    2017-09-01

    Economizing and spending priorities on different types of vacations are investigated during two periods: an economic downturn and returning prosperity. Two nation-wide samples of vacationers are used: one during a downturn, the other one at the start of the recovery period. Through comparing the results, conclusions can be drawn about symmetric or asymmetric tourist demand across the business cycle. The main summer holiday has an asymmetric profile: being fairly crisis-resistant during a recession and showing considerable growth during an expansion. This does not apply to short vacations and day trips, each having a symmetric profile: during a recession they experience substantial reductions and during expansion comparable growth. So when talking about tourist demand in general , one cannot say that it is symmetric or asymmetric across the business cycle: it depends on the type of vacation. Differences in tourist demand are best explained by the role of Quality-of-Life for vacationers.

  3. Tracking the business cycle of the Euro area: A multivariate model-based band-pass filter

    NARCIS (Netherlands)

    Azevedo, J.M.; Koopman, S.J.; Rua, A.

    2006-01-01

    This article proposes a multivariate bandpass filter based on the trend plus cycle decomposition model. The underlying multivariate dynamic factor model relies on specific formulations for trend and cycle components and produces smooth business cycle indicators with bandpass filter properties.

  4. Loglinear Approximate Solutions to Real-Business-Cycle Models: Some Observations

    Science.gov (United States)

    Lau, Sau-Him Paul; Ng, Philip Hoi-Tak

    2007-01-01

    Following the analytical approach suggested in Campbell, the authors consider a baseline real-business-cycle (RBC) model with endogenous labor supply. They observe that the coefficients in the loglinear approximation of the dynamic equations characterizing the equilibrium are related to the fundamental parameters in a relatively simple manner.…

  5. The South African business cycle: What has changed?

    OpenAIRE

    Burger, Philippe

    2010-01-01

    This paper identifies the basic empirical characteristics and changes of the South African business cycle since 1960. As such, the paper examines changes in volatility as well as the co-movement between several national account variables and real GDP. To examine the co-movements the paper follows Kydland and Prescott, Gavin and Kydland as well as Bergman, Bordo and Jonung and uses correlation coefficients and Granger causality tests. Following Ramos, the paper extends the results of the Grang...

  6. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, CDMC06/04 (2006), s. 1-39 Institutional research plan: CEZ:AV0Z70850503 Keywords : money velocity * business cycle * endogenous growth Subject RIV: AH - Economics http://www.st- and rews.ac.uk/economics/CDMA/papers/cp0604.pdf

  7. Business cycle synchronization among member countries of Eurozone during the process of European integration

    Directory of Open Access Journals (Sweden)

    Svatopluk Kapounek

    2007-01-01

    Full Text Available The paper deals with the correlation of the business cycles between the Eurozone member states in the period 1957–2003. The analysed period is divided into the four parts (1959–1972, 1973–1985, 1986–1994, 1995–2003, which correspond to integration waves and relate approximately to the European integration process. The empirical analysis is based on the time series correlation. The authors discuss the impact of the EC enlargements on the business cycles correlation as well as on qualitative changes in the interaction between the states.

  8. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, E2007/14 (2007), s. 1-16 ISSN 1749-6101 Institutional research plan: CEZ:MSM0021620846 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics http://www.cf.ac.uk/carbs/econ/workingpapers/papers/E2007_14.pdf

  9. The US Business Cycle, 1867-2006 : A Dynamic Factor Approach

    NARCIS (Netherlands)

    Ritschl, Albrecht; Sarferaz, Samad; Uebele, Martin

    We estimate a Stock/Watson index of economic activity to assess U.S. business cycle volatility since 1867. We replicate the Great Moderation of the 1980s and 1990s and find exceptionally low volatility also in the Golden Age of the 1960s. Postwar moderation relative to pre-1914 occurs under constant

  10. A fourth order spline collocation approach for a business cycle model

    Science.gov (United States)

    Sayfy, A.; Khoury, S.; Ibdah, H.

    2013-10-01

    A collocation approach, based on a fourth order cubic B-splines is presented for the numerical solution of a Kaleckian business cycle model formulated by a nonlinear delay differential equation. The equation is approximated and the nonlinearity is handled by employing an iterative scheme arising from Newton's method. It is shown that the model exhibits a conditionally dynamical stable cycle. The fourth-order rate of convergence of the scheme is verified numerically for different special cases.

  11. Dynamics of the driven Goodwin business cycle equation

    International Nuclear Information System (INIS)

    Antonova, A. O.; Reznik, S. N.; Todorov, M. D.

    2015-01-01

    We study dynamics of the Goodwin nonlinear accelerator business cycle model with periodic forced autonomous investment I a (t) = a(1 – cos ωt), where a and ω are the amplitude and the frequency of investment. We give examples of the parameters a and ω when the chaotic oscillations of income are possible. We find the critical values of amplitude a cr (ω): if a > a cr (ω) the period of the income equals to the driving period T=2π/ω

  12. Incidence of remuneration to capital on the colombian business cycle from 1980 to 2005

    Directory of Open Access Journals (Sweden)

    Julio César Chamorro Futinico

    2011-07-01

    Full Text Available The business cycle was one of the most important issues in the economic agendafrom the late 19th Century to the mid 20th Century. The importance of the studylay in the priority of finding the causes and duration of economic crisis, and tobe able to determine or predict how often they would happen. Currently, and with the recent financial crisis in the United States (2008 and in Colombia(1998-2009, among others, this study has gained importance once more. Thispaper presents a number of points of view on the matter and focuses on an approach that has been given very little consideration: Michal Kalecki’s theory,which provides a basis for analyzing the Colombian business cycle from 1980to 2005, and thus compare the model estimated through the Three-Stage LeastSquares (3SLS method with the behavior of the remuneration to capital during the same period. Based on this, a close relation is found between the latter, the decision to invest and, therefore, the declining phase of the business cycle.

  13. Stability and Hopf Bifurcation Analysis on a Nonlinear Business Cycle Model

    Directory of Open Access Journals (Sweden)

    Liming Zhao

    2016-01-01

    Full Text Available This study begins with the establishment of a three-dimension business cycle model based on the condition of a fixed exchange rate. Using the established model, the reported study proceeds to describe and discuss the existence of the equilibrium and stability of the economic system near the equilibrium point as a function of the speed of market regulation and the degree of capital liquidity and a stable region is defined. In addition, the condition of Hopf bifurcation is discussed and the stability of a periodic solution, which is generated by the Hopf bifurcation and the direction of the Hopf bifurcation, is provided. Finally, a numerical simulation is provided to confirm the theoretical results. This study plays an important role in theoretical understanding of business cycle models and it is crucial for decision makers in formulating macroeconomic policies as detailed in the conclusions of this report.

  14. Ischaemic heart disease mortality and the business cycle in Australia.

    Science.gov (United States)

    Bunn, A R

    1979-01-01

    Trends in Australian heart disease mortality were assessed for association with the business cycle. Correlation models of mortality and unemployment series were used to test for association. An indicator series of "national stress" was developed. The three series were analyzed in path models to quantify the links between unemployment, national stress, and heart disease. Ischemic heart disease (IHD) mortality and national stress were found to follow the business cycle. The two periods of accelerating IHD mortality coincided with economic recession. The proposed "wave hypothesis" links the trend in IHD mortality to the high unemployment of severe recession. The mortality trend describes a typical epidemic parabolic path from the Great Depression to 1975, with a smaller parabolic trend at the 1961 recession. These findings appear consistent with the hypothesis that heart disease is, to some degree, a point source epidemic arising with periods of severe economic recession. Forecasts under the hypothesis indicate a turning point in the mortality trend between 1976 and 1978. (Am J Public Health 69:772-781, 1979). PMID:453409

  15. The Convergence of European Business Cycles 1980--2004

    Science.gov (United States)

    Ormerod, P.

    2005-09-01

    The degree of convergence of the business cycles of the economies of the European Union is a key policy issue. In particular, a substantial degree of convergence is needed if the European Central Bank is to be capable of setting a monetary policy which is appropriate to the stage of the cycle of the Euro zone economies. I consider the annual rates of real GDP growth on a quarterly basis in the main economies of the EU (France, Germany, Italy, UK, Spain, Belgium and the Netherlands) over the period 1980Q1--2004Q4. An important empirical question is the degree to which the correlations between these growth rates contain true information rather than noise. The technique of random matrix theory is able to answer this question, and has been applied successfully in the physics journals to financial markets data. I find that the correlations between the growth rates of most of the core EU economies contain substantial amounts of true information, and exhibit considerable stability over time. Even in the late 1970s and early 1980s, these economies moved together closely over the course of the business cycle. There was a slight loosening at the time of German re-unification, but the economies have moved back into close synchronisation. The same result holds when Spain is added to the group of core EU countries. However, the problems of the German economy which arose from the early 1990s onwards has led to Germany becoming increasingly less synchronised with the rest of the core EU. Further, the results obtained with a data set of the converged EU core plus the UK show no real convergence between the UK and this group of economies.

  16. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    2008-01-01

    Roč. 40, č. 6 (2008), s. 1281-1293 ISSN 0022-2879 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics Impact factor: 1.422, year: 2008

  17. The role of mortgages and consumer credit in the business cycle

    NARCIS (Netherlands)

    Sterk, V.

    2011-01-01

    Many households rely on mortgages and consumer credit to finance their expenditures. Lenders usually impose certain conditions on loans, such as limits on the amounts that can be borrowed. Conventional intuition suggests that such conditions are important for our understanding of the business cycle,

  18. Business Cycle Accounting: Bulgaria after the introduction of the currency board arrangement (1999-2014

    Directory of Open Access Journals (Sweden)

    Aleksandar Vasilev

    2017-12-01

    Full Text Available This paper focuses on explaining the economic fluctuations in Bulgaria after the introduction of the currency board arrangement in 1997, the period of macroeconomic stability that ensued, the EU accession, and the episode of the recent global financial crisis. This paper follows Chari et al. (2002, 2007 and performs business cycle accounting (BCA for Bulgaria during the period 1999-2014. As in Cavalcanti (2007, who studies the Portuguese business cycles, most of the volatility in output per capita in Bulgaria over the period is due to variations in the efficiency and labor wedges.

  19. A comparison of exchange economies within a monetary business cycle

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    2005-01-01

    Roč. 73, č. 4 (2005), s. 542-562 ISSN 1463-6786 R&D Projects: GA ČR GA402/05/2172 Institutional research plan: CEZ:AV0Z70850503 Keywords : monetary business cycle * credit model Subject RIV: AH - Economics Impact factor: 0.319, year: 2005 http://dx.doi.org/10.1111/j.1467-9957.2005.00458.x

  20. The Rate of Return to Schooling and the Business Cycle: Additional Estimates.

    Science.gov (United States)

    Kniesner, Thomas J.; And Others

    1980-01-01

    Illustrates that the business cycle does indeed disturb relative Black/White rates of return to schooling. Blacks fare relatively poorly in times of high unemployment. Data tables and formulas are presented to support the argument. (CT)

  1. Relative cost of capital for marginal firms over the business cycle

    OpenAIRE

    Gikas A. Hardouvelis; Thierry A. Wizman

    1992-01-01

    The authors compare the effects of the business cycle on the cost of capital faced by small, distressed firms and their larger, more financially secure counterparts. The analysis draws on stock market returns data for a broad range of traded companies during the 1963-91 period.

  2. Business cycles in oil economies

    International Nuclear Information System (INIS)

    Al-Mutairi, N.H.

    1991-01-01

    This study examines the impact of oil price shocks on output fluctuations of several oil-exporting economies. In most studies of business cycles, the role of oil price is ignored; the few studies that use oil price as one of the variables in the system focus on modeling oil-importing economies. The vector autoregression (VAR) technique is used to consider the cases of Norway, Nigeria, and Mexico. Both atheoretical and 'structural' VARs are estimated to determine the importance of oil price impulses on output variations. The study reports two types of results: variance decomposition and impulse response functions, with particular emphasis on the issues of stationarity and co-integration among the series. The empirical results suggest that shocks to oil price are important in explaining output variations. In most cases, shocks to oil price are shown to explain more than 20% of the forecast variance of output over a 40-quarter horizon

  3. Fluctuations in a mixed IS-LM business cycle model

    Directory of Open Access Journals (Sweden)

    Hamad Talibi Alaoui

    2008-09-01

    Full Text Available In the present paper, we extend a delayed IS-LM business cycle model by introducing an additional advance (anticipated capital stock in the investment function. The resulting model is represented in terms of mixed differential equations. For the deviating argument $au$ (advance and delay being a bifurcation parameter we investigate the local stability and the local Hopf bifurcation. Also some numerical simulations are given to support the theoretical analysis.

  4. Emerging market business cycles revisited: learning about the trend

    OpenAIRE

    Boz, Emine; Daude, Christian; Durdu, C. Bora

    2011-01-01

    The data reveal that emerging markets do not differ from developed countries with regards to the variance of permanent TFP shocks relative to transitory. They do differ, however, in the degree of uncertainty agents face when formulating expectations. Based on these observations, we build an equilibrium business cycle model in which the agents cannot perfectly distinguish between the permanent and transitory components of TFP shocks. When formulating expectations, they assign some probability ...

  5. Money velocity in an endogenous growth business cycle with credit shocks

    Czech Academy of Sciences Publication Activity Database

    Benk, S.; Gillman, M.; Kejak, Michal

    -, 2007/5 (2007), s. 1-17 ISSN 1585-5600 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : money velocity * business cycle * credit shocks Subject RIV: AH - Economics http://www.mnb.hu/Root/Dokumentumtar/MNB/Kiadvanyok/mnbhu_mnbfuzetek/WP_2007_5.pdf

  6. Development on nuclear fuel cycle business in Japan

    International Nuclear Information System (INIS)

    Usami, Kogo

    2002-01-01

    The Japan Nuclear Fuel Co., Ltd. (JNF) develops five businesses on nuclear fuel cycle such as uranium concentration, storage and administration of high level radioactive wastes, disposition of low level radioactive wastes, used fuel reprocessing, MOX fuel, at Rokkasho-mura in Aomori prefecture. Here were introduced on outline, construction and operation in reprocessing and MOX fuel works, outline, present state and future subjects on technical development of uranium concentration, outline and safety of disposition center on low level radioactive wastes, and storage and administration of high level radioactive wastes. (G.K.)

  7. Marketing budget allocation across countries : The role of the international business cycle

    NARCIS (Netherlands)

    Peers, Y.; van Heerde, H.J.; Dekimpe, Marnik

    2017-01-01

    A key conundrum facing organizations is how to adjust marketing budgets in response to the business cycle. While most firms use procyclical spending (spending less during economic contractions), academic studies often recommend countercyclical spending (spending more during contractions), which begs

  8. Additional slack in the economy: the poor recovery in labor force participation during this business cycle

    OpenAIRE

    Katharine L. Bradbury

    2005-01-01

    This public policy brief examines labor force participation rates in this recession and recovery and compares them with the cyclical patterns in earlier business cycles. Measured relative to the business cycle peak in March 2001, labor force participation rates almost four years later have not recovered as much as usual, and the discrepancies are large. ; Among age-by-sex groups, the participation shortfall is especially pronounced at young and prime ages: Only for men and women age 55 and ol...

  9. Measuring Synchronisation and Convergence of Business Cycles in Eurozone, UK and US

    NARCIS (Netherlands)

    Koopman, S.J.; Valle a Azevedo, J.

    2008-01-01

    This paper investigates business cycle relations among different economies in the Euro area. Cyclical dynamics are explicitly modelled as part of a time series model. We introduce mechanisms that allow for increasing or diminishing phase shifts and for time-varying association patterns in different

  10. Job Displacement and First Birth Over the Business Cycle

    OpenAIRE

    Hofmann, Barbara; Kreyenfeld, Michaela; Uhlendorff, Arne

    2017-01-01

    In this article, we investigate the impact of job displacement on women?s first-birth rates as well as the variation in this effect over the business cycle. We use mass layoffs to estimate the causal effects of involuntary job loss on fertility in the short and medium term, up to five years after displacement. Our analysis is based on rich administrative data from Germany, with an observation period spanning more than 20 years. We apply inverse probability weighting (IPW) to flexibly control ...

  11. Hopf bifurcation of the stochastic model on business cycle

    International Nuclear Information System (INIS)

    Xu, J; Wang, H; Ge, G

    2008-01-01

    A stochastic model on business cycle was presented in thas paper. Simplifying the model through the quasi Hamiltonian theory, the Ito diffusion process was obtained. According to Oseledec multiplicative ergodic theory and singular boundary theory, the conditions of local and global stability were acquired. Solving the stationary FPK equation and analyzing the stationary probability density, the stochastic Hopf bifurcation was explained. The result indicated that the change of parameter awas the key factor to the appearance of the stochastic Hopf bifurcation

  12. Coupled Oscillator Model of the Business Cycle withFluctuating Goods Markets

    Science.gov (United States)

    Ikeda, Y.; Aoyama, H.; Fujiwara, Y.; Iyetomi, H.; Ogimoto, K.; Souma, W.; Yoshikawa, H.

    The sectoral synchronization observed for the Japanese business cycle in the Indices of Industrial Production data is an example of synchronization. The stability of this synchronization under a shock, e.g., fluctuation of supply or demand, is a matter of interest in physics and economics. We consider an economic system made up of industry sectors and goods markets in order to analyze the sectoral synchronization observed for the Japanese business cycle. A coupled oscillator model that exhibits synchronization is developed based on the Kuramoto model with inertia by adding goods markets, and analytic solutions of the stationary state and the coupling strength are obtained. We simulate the effects on synchronization of a sectoral shock for systems with different price elasticities and the coupling strengths. Synchronization is reproduced as an equilibrium solution in a nearest neighbor graph. Analysis of the order parameters shows that the synchronization is stable for a finite elasticity, whereas the synchronization is broken and the oscillators behave like a giant oscillator with a certain frequency additional to the common frequency for zero elasticity.

  13. Search in the product market and the real business cycle

    OpenAIRE

    Mathä, Thomas Y.; Pierrard, Olivier

    2009-01-01

    Abstract Abstract Empirical evidence suggests that most firms operate in imperfectly competitive markets. We develop a search-matching model between wholesalers and retailers. Firms face search costs and form long-term relationships. Price bargain results in both wholesaler and retailer markups, which depend on firms? relative bargaining power. We simulate the general equilibrium model and explore the role of product market search frictions for business cycles. We conclu...

  14. Explaining the Stock Market's Reaction to Unemployment News Over the Business Cycle

    NARCIS (Netherlands)

    Driessen, Joost; Kuiper, Ivo

    This paper analyzes the impact of unemployment news on stock markets throughout the business cycle. We show dependence of the reaction to the economic environment by studying the reaction in multiple economic environments that are defined based on both the level and momentum of economic activity.

  15. The relationship between macroeconomic and industry-specific business cycle indicators and work-related injuris among Danish construction workers

    DEFF Research Database (Denmark)

    Nielsen, Kent Jacob; Lander, Flemming; Lauritsen, Jens

    2015-01-01

    Objectives The current study examines and compares the relationship between both macroeconomic and industry-specific business cycle indicators, and work-related injuries among construction workers in Denmark using emergency department (ED) injury data and also officially reported injuries...... (range 0.14–0.20) and WEA injuries (range 0.13–0.36). Furthermore, although there is some variability in the strength of the relationship of the different business cycle indicators, the relationships are generally not stronger for the WEA injuries than for the ED injuries, except for general unemployment....... Similarly, no substantial differences in strength of relation between industry-specific and macroeconomic indicators were identified. Conclusions The study shows that there was no difference in the relationship between business cycle indicators, and WEA and ED injury data. This indicates that changes...

  16. Comparative analysis of Goodwin's business cycle models

    Science.gov (United States)

    Antonova, A. O.; Reznik, S.; Todorov, M. D.

    2016-10-01

    We compare the behavior of solutions of Goodwin's business cycle equation in the form of neutral delay differential equation with fixed delay (NDDE model) and in the form of the differential equations of 3rd, 4th and 5th orders (ODE model's). Such ODE model's (Taylor series expansion of NDDE in powers of θ) are proposed in N. Dharmaraj and K. Vela Velupillai [6] for investigation of the short periodic sawthooth oscillations in NDDE. We show that the ODE's of 3rd, 4th and 5th order may approximate the asymptotic behavior of only main Goodwin's mode, but not the sawthooth modes. If the order of the Taylor series expansion exceeds 5, then the approximate ODE becomes unstable independently of time lag θ.

  17. "The Political Business Cycle: New Evidence from the Nixon Tapes"

    OpenAIRE

    Burton A. Abrams; James L. Butkiewicz

    2011-01-01

    Drawing from the personal tape recordings made during the presidency of Richard Nixon, we uncover and report in this paper new evidence that Nixon manipulated Arthur Burns and the Federal Reserve Bank into creating a political business cycle that helped secure Nixon’s reelection victory in 1972. Nixon understood the risks that his desired monetary policy imposed, but chose to trade longer-term economic costs to the economy for his own short-term political benefit.

  18. Roles of Technology and Nontechnology Shocks in the Business Cycles

    OpenAIRE

    Shingo Watanabe

    2006-01-01

    The empirical study of technology shocks is intensively conducted to evaluate plausibility of the technology-driven real business cycle hypothesis. A popular method is to identify technology shocks by the long-run restriction that those solely have permanent effects on labor productivity in the system consisting of labor productivity growth and hours worked. While it has an advantage of not using Solow residuals which tend to accompany measurement errors, it potentially misidentifies nontechn...

  19. Cycle e-business: the e-business of Gaz De France; Cycle e-business: l'e-business de Gaz de France

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This paper deals with the Gaz De France Group position in the e-business context. In terms of e-business, all is done to put Internet at the marketing service. Three examples of Internet sites realization and the future policy are presented. (A.L.B.)

  20. Part-time Employment and Business Cycle in Central and Eastern Europe

    Czech Academy of Sciences Publication Activity Database

    Fialová, Kamila

    2017-01-01

    Roč. 17, č. 2 (2017), s. 179-203 ISSN 1213-2446 R&D Projects: GA ČR(CZ) GA14-15008S Institutional support: RVO:68378025 Keywords : business cycle * part-time employment * working time Subject RIV: AH - Economics OBOR OECD: Applied Economics, Econometrics https://www.degruyter.com/downloadpdf/j/revecp.2017.17.issue-2/revecp-2017-0009/revecp-2017-0009.pdf

  1. Numerical Exploration of Kaldorian Macrodynamics: Hopf-Neimark Bifurcations and Business Cycles with Fixed Exchange Rates

    Directory of Open Access Journals (Sweden)

    Toichiro Asada

    2007-01-01

    Full Text Available We explore numerically a three-dimensional discrete-time Kaldorian macrodynamic model in an open economy with fixed exchange rates, focusing on the effects of variation of the model parameters, the speed of adjustment of the goods market α, and the degree of capital mobility β on the stability of equilibrium and on the existence of business cycles. We determine the stability region in the parameter space and find that increase of α destabilizes the equilibrium more quickly than increase of β. We determine the Hopf-Neimark bifurcation curve along which business cycles are generated, and discuss briefly the occurrence of Arnold tongues. Bifurcation and Lyapunov exponent diagrams are computed providing information on the emergence, persistence, and amplitude of the cycles and illustrating the complex dynamics involved. Examples of cycles and other attractors are presented. Finally, we discuss a two-dimensional variation of the model related to a “wealth effect,” called model 2, and show that in this case, α does not destabilize the equilibrium more quickly than β, and that a Hopf-Neimark bifurcation curve does not exist in the parameter space, therefore model 2 does not produce cycles.

  2. Extracting a robust U.S. business cycle using a time-varying multivariate model-based bandpass filter

    NARCIS (Netherlands)

    Koopman, S.J.; Creal, D.D.

    2010-01-01

    We develop a flexible business cycle indicator that accounts for potential time variation in macroeconomic variables. The coincident economic indicator is based on a multivariate trend cycle decomposition model and is constructed from a moderate set of US macroeconomic time series. In particular, we

  3. On a business cycle model with fractional derivative under narrow-band random excitation

    International Nuclear Information System (INIS)

    Lin, Zifei; Li, Jiaorui; Li, Shuang

    2016-01-01

    This paper analyzes the dynamics of a business cycle model with fractional derivative of order  α (0 < α < 1) subject to narrow-band random excitation, in which fractional derivative describes the memory property of the economic variables. Stochastic dynamical system concepts are integrated into the business cycle model for understanding the economic fluctuation. Firstly, the method of multiple scales is applied to derive the model to obtain the approximate analytical solution. Secondly, the effect of economic policy with fractional derivative on the amplitude of the economic fluctuation and the effect on stationary probability density are studied. The results show macroeconomic regulation and control can lower the stable amplitude of economic fluctuation. While in the process of equilibrium state, the amplitude is magnified. Also, the macroeconomic regulation and control improves the stability of the equilibrium state. Thirdly, how externally stochastic perturbation affects the dynamics of the economy system is investigated.

  4. Credit Default and Business Cycles: An Empirical Investigation of Brazilian Retail Loans

    Directory of Open Access Journals (Sweden)

    Arnildo da Silva Correa

    2014-09-01

    Full Text Available We use microdata from the Credit Information System (SCR of the Central Bank of Brazil to study the relationship between credit default and business cycles. In particular, we study the first part of the argument underlying the discussion about procyclicality related to the Basel II Accord: that recessions might increase credit defaults and have adverse impacts on the losses in portfolios of lender institutions. We explore both time series and cross-sectional variation in the data. Our data on the individual level are composed of retail loan transactions in two modalities-Consumer Credit and Vehicle Financing-from 2003 to 2008. Our results support the idea of a negative relationship between business cycles and credit default, but less strong than suggested in previous studies that use corporate data. We also find low and dispersed default correlations, and smaller losses in Value at Risk (VaR experiments than those found in the literature. These results may be possibly explained by the fact that, in the retail sector, loans are given to a large number of individuals, which may help to diversify risks.

  5. Gasoline Prices, Transport Costs, and the U.S. Business Cycles

    OpenAIRE

    Hakan Yilmazkuday

    2014-01-01

    The e¡èects of gasoline prices on the U.S. business cycles are investigated. In order to distinguish between gasoline supply and gasoline demand shocks, the price of gasoline is endogenously determined through a transportation sector that uses gasoline as an input of production. The model is estimated for the U.S. economy using five macroeconomic time series, including data on transport costs and gasoline prices. The results show that although standard shocks in the literature (e.g., technolo...

  6. When Arm’s Length is Too Far : Relationship Banking over the Business Cycle

    NARCIS (Netherlands)

    Beck, T.H.L.; Degryse, H.A.; de Haas, R.; van Horen, N.

    2014-01-01

    Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two

  7. Dynamics of a delayed business cycle model with general investment function

    International Nuclear Information System (INIS)

    Riad, Driss; Hattaf, Khalid; Yousfi, Noura

    2016-01-01

    Highlights: • A delayed business cycle model is formulated and rigorously analyzed. • Well-posedness of the model and local stability of the economic equilibrium are determined. • Direction and stability of the Hopf bifurcation are investigated. • Global existence of bifurcating periodic solutions is established. • Numerical simulations are presented to illustrate our theoretical results. - Abstract: The aim of this paper is to study the dynamics of a delayed business cycle model with general investment function. The model describes the interaction of the gross product and capital stock. Furthermore, the delay represents the time between the decision of investment and implementation. Firstly, we show that the model is well posed by proving the global existence and boundedness of solutions. Secondly, we determine the economic equilibrium of the model. By analyzing the characteristic equation, we investigate the stability of the economic equilibrium and the local existence of Hopf bifurcation. Also, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are derived by applying the normal form method and center manifold theory. Moreover, the global existence of bifurcating periodic solutions is established by using the global Hopf bifurcation theory. Finally, our theoretical results are illustrated with some numerical simulations.

  8. 'Virtual' central business office: how UMMS improved revenue cycle performance.

    Science.gov (United States)

    Henciak, Bill; Fontaine, Christine; Fields, Keith; Parks, Stacy

    2010-06-01

    Based on its experience with implementing a virtual central business office, UMMS recommends the following steps to ensure the success of such an initiative: Define the process flow for the organization's day-today revenue cycle operations prior to implementation. Then select best practices and milestones for managing accounts. Identify any possible technology issues that could arise during implementation prior to go live. Hold a midproject debriefing with staff. Develop an organizational chart that details who is responsible for handling issues that arise during implementation and afterward.

  9. Formation of the Cycle of Business Processes of Management of Marketing Activity of a Transport Enterprise

    Directory of Open Access Journals (Sweden)

    Horielov Dmytro O.

    2014-02-01

    Full Text Available The article is devoted to problems of organisation of the process of management of marketing activity of an enterprise. It specifies the model of services of a transport enterprise and provides levels of services and their structure: basic, real, expanded, expected and prospective. The article offers to differentiate planning and realisation of the transportation service by its levels, each of which would correspond with a separate business process of management. It reveals specific features of use of instruments of the traditional, internal and interactive marketing in the market of transportation services. It identifies the structure of the object when managing marketing activity of a transportation enterprise. The article uses the Deming cycle to formulate general principles of formation of business processes of management of marketing activity: “Motivation – Plan – Do – Check – Act”. The proposed cycle would ensure continuous improvement of the said business processes of an enterprise in accordance with international quality standards (ISO.

  10. Do Business Cycles Have Long-Term Impact for Particular Cohorts?

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Maibom, Jonas; Svarer, Michael

    Will the current employment crisis produce lost generations with permanently lower labour market attachment? Taking an explicit cohort perspective and based on Danish data we do not find strong persistence in employment rates at the cohort level. Younger workers tend to be more exposed to business...... cycle fluctuations than older workers, but importantly they recover more quickly from such set-backs than older workers for whom persistence is stronger. Moreover, no cohorts have been disproportionately affected by exposure to a sequence of adverse shocks. An explicit account of overlapping cohorts...

  11. Match your sales force structure to your business life cycle.

    Science.gov (United States)

    Zoltners, Andris A; Sinha, Prabhakant; Lorimer, Sally E

    2006-01-01

    Although companies devote considerable time and money to managing their sales forces, few focus much thought on how the structure of the sales force needs to change over the life cycle of a product or a business. However, the organization and goals of a sales operation have to evolve as businesses start up, grow, mature, and decline if a company wants to keep winning the race for customers. Specifically, firms must consider and alter four factors over time: the differing roles that internal salespeople and external selling partners should play, the size of the sales force, its degree of specialization, and how salespeople apportion their efforts among different customers, products, and activities. These variables are critical because they determine how quickly sales forces respond to market opportunities, they influence sales reps' performance, and they affect companies' revenues, costs, and profitability. In this article, the authors use timeseries data and cases to explain how, at each stage, firms can best tackle the relevant issues and get the most out of their sales forces. During start-up, smart companies focus on how big their sales staff should be and on whether they can depend upon selling partners. In the growth phase, they concentrate on getting the sales force's degree of specialization and size right. When businesses hit maturity, companies should better allocate existing resources and hire more general-purpose salespeople. Finally, as organizations go into decline, wise sales leaders reduce sales force size and use partners to keep the business afloat for as long as possible.

  12. Real Exchange Rate Fluctuations and the Business Cycle: Evidence from Japan

    OpenAIRE

    Bankim Chadha; Eswar Prasad

    1997-01-01

    This paper analyzes the relationship between the real exchange rate and the business cycle in Japan during the floating rate period. A structural vector autoregression is used to identify different types of macroeconomic shocks that determine fluctuations in aggregate output and the real exchange rate. Relative nominal and real demand shocks are found to be the main determinants of variation in real exchange rate changes, whereas relative output growth is driven primarily by supply shocks. Hi...

  13. IS READY ROMANIA FOR EURO ADOPTION? FROM STRUCTURAL CONVERGENCE TO BUSINESS CYCLE SYNCHRONIZATION

    Directory of Open Access Journals (Sweden)

    Marinas Marius - Corneliu

    2011-12-01

    Full Text Available The objective of this study is to identify gaps between economic and commercial structures between Romania and the euro area and to explain whether the results obtained justify recently decision to delay euro adoption beyond 2015. According to theory of optimum currency areas, the existence of similar economic structures, increasing trade integration and synchronization of business cycles with monetary union will provide greater symmetry of shocks between Romania and the euro area. If the shocks are more symmetrical, then common monetary policy of the European Central Bank will act as a tool to neutralize the shocks in the case of Romania, and the euro adoption would have fewer adverse effects. To meet the research objective, we have structured this paper into three parts. In the first part we referred to the importance of the proposed theme in the economic literature. In the second part, we used several statistical methods to identify how divergent is Romania relative to the euro area economies. The results obtained show increasing divergence between economic structures until 2009 year using the NACE 6 methodology. In fact, Romania has the most divergent structure in EU-27 countries, being characterized by lowest contribution of services to GDP. However, structural differences do not constitute an obstacle to euro adoption, as long as Romania becomes more commercially integrated with other European countries. Thus, Romania is the seventh economy in terms of trade with the EU-27 (73.3% of exports and 74.3% of imports, and the degree of convergence between the structure of exports and imports have increased significantly compared with 2000 year. In the third part, we estimated the degree of synchronization of business cycles between Romania and the euro area, based on Hodrick-Prescott filter. Results showed an increasing correlation of business cycles as a result of increasing industrial activity and export synchronization.

  14. A generalized business cycle model with delays in gross product and capital stock

    International Nuclear Information System (INIS)

    Hattaf, Khalid; Riad, Driss; Yousfi, Noura

    2017-01-01

    Highlights: • A generalized business cycle model is proposed and rigorously analyzed. • Well-posedness of the model and local stability of the economic equilibrium are investigated. • Direction of the Hopf bifurcation and stability of the bifurcating periodic solutions are determined. • A special case and some numerical simulations are presented. - Abstract: In this work, we propose a delayed business cycle model with general investment function. The time delays are introduced into gross product and capital stock, respectively. We first prove that the model is mathematically and economically well posed. In addition, the stability of the economic equilibrium and the existence of Hopf bifurcation are investigated. Our main results show that both time delays can cause the macro-economic system to fluctuate and the economic equilibrium to lose or gain its stability. Moreover, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are determined by means of the normal form method and center manifold theory. Furthermore, the models and results presented in many previous studies are improved and generalized.

  15. Life Cycle Assessment as Entrepreneurial Tool for Business Management and Green Innovations

    Directory of Open Access Journals (Sweden)

    Cassiano Moro Piekarski

    2013-01-01

    Full Text Available A transition for a green economy has encouraged companies to use new tools which promote internal corporate entrepreneurship, increase the competitiveness and achieve sustainable results. This article presented a theoretical discussion of how the Life Cycle Assessment (LCA can presents as an entrepreneurial tool for modern business management and green innovation. Studies of LCA were analyzed showing benefits and applications in the areas of strategic planning, production, process of development of products, search and development, social and environmental responsibility, and marketing. As for green innovations, there were analyzed studies of innovations in products, processes and services. The tool assists in making sustainable decisions, fortifies the management of the business processes, the management of operations and the promotion of greener innovations.

  16. Codimension-2 bifurcations of the Kaldor model of business cycle

    International Nuclear Information System (INIS)

    Wu, Xiaoqin P.

    2011-01-01

    Research highlights: → The conditions are given such that the characteristic equation may have purely imaginary roots and double zero roots. → Purely imaginary roots lead us to study Hopf and Bautin bifurcations and to calculate the first and second Lyapunov coefficients. → Double zero roots lead us to study Bogdanov-Takens (BT) bifurcation. → Bifurcation diagrams for Bautin and BT bifurcations are obtained by using the normal form theory. - Abstract: In this paper, complete analysis is presented to study codimension-2 bifurcations for the nonlinear Kaldor model of business cycle. Sufficient conditions are given for the model to demonstrate Bautin and Bogdanov-Takens (BT) bifurcations. By computing the first and second Lyapunov coefficients and performing nonlinear transformation, the normal forms are derived to obtain the bifurcation diagrams such as Hopf, homoclinic and double limit cycle bifurcations. Some examples are given to confirm the theoretical results.

  17. Stabilization of business cycles of finance agents using nonlinear optimal control

    Science.gov (United States)

    Rigatos, G.; Siano, P.; Ghosh, T.; Sarno, D.

    2017-11-01

    Stabilization of the business cycles of interconnected finance agents is performed with the use of a new nonlinear optimal control method. First, the dynamics of the interacting finance agents and of the associated business cycles is described by a modeled of coupled nonlinear oscillators. Next, this dynamic model undergoes approximate linearization round a temporary operating point which is defined by the present value of the system's state vector and the last value of the control inputs vector that was exerted on it. The linearization procedure is based on Taylor series expansion of the dynamic model and on the computation of Jacobian matrices. The modelling error, which is due to the truncation of higher-order terms in the Taylor series expansion is considered as a disturbance which is compensated by the robustness of the control loop. Next, for the linearized model of the interacting finance agents, an H-infinity feedback controller is designed. The computation of the feedback control gain requires the solution of an algebraic Riccati equation at each iteration of the control algorithm. Through Lyapunov stability analysis it is proven that the control scheme satisfies an H-infinity tracking performance criterion, which signifies elevated robustness against modelling uncertainty and external perturbations. Moreover, under moderate conditions the global asymptotic stability features of the control loop are proven.

  18. The role of national culture in advertising's sensitivity to business cycles : An investigation across continents

    NARCIS (Netherlands)

    Deleersnyder, B.; DeKimpe, M.; Steenkamp, J.E.M.; Leeflang, P.S.H.

    2009-01-01

    The authors conduct a systematic investigation into the cyclical sensitivity of advertising expenditures in 37 countries, covering four key media: magazines, newspapers, radio, and television. They show that advertising is considerably more sensitive to business-cycle fluctuations than the economy

  19. Is There Really a Global Business Cycle? : A Dynamic Factor Model with Stochastic Factor Selection

    NARCIS (Netherlands)

    T. Berger (Tino); L.C.G. Pozzi (Lorenzo)

    2016-01-01

    textabstractWe investigate the presence of international business cycles in macroeconomic aggregates (output, consumption, investment) using a panel of 60 countries over the period 1961-2014. The paper presents a Bayesian stochastic factor selection approach for dynamic factor models with

  20. Trends in Business Investment

    OpenAIRE

    Lydon, Reamonn; Scally, John

    2014-01-01

    This article examines trends in business investment in Ireland. Consistent with the international evidence on investment cycles, we show that business investment in Ireland exhibits large cyclical movements around a long-run trend relative to GDP. Changes in business investment broadly coincide with the overall business cycle, although swings in investment tend to be far greater, with extended periods of both over- and under-investment relative to GDP. The sharp fall in business investment si...

  1. Some Further Evidence on the Rate of Return to Schooling and the Business Cycle.

    Science.gov (United States)

    King, Randall H.

    1980-01-01

    The business cycle has a strong impact on calculated rates of return to schooling. Cross-sectional rates of return are positively related to the unemployment rate in the year the cross-section is taken. The sensitivity of the relationship was not found to be substantially different among the races. (CT)

  2. The troika of business cycle, efficiency and volatility. An East Asian perspective

    Science.gov (United States)

    Arshad, Shaista; Rizvi, Syed Aun R.

    2015-02-01

    The EMH has been the subject of much debate over the past few decades, with a recent surge in interest in Asian markets. Asian markets which traditionally comprise of many emerging markets are more volatile and speculative in nature. The heart of our study focuses on the East Asian economies, which have experienced massive capital inflows. This begs the question of whether or not the stock markets are efficient enough for further investment and development. Our paper differs from existing literature as it focuses on deriving weak form efficiency rankings during different business cycle phases. We endeavour further to assess the volatility and business cycle phases. Taking Malaysia, Indonesia, Singapore and South Korea owing to their economic and financial development, we use MF-DFA to derive efficiency rankings and find firstly, the overall efficiency has improved over the past two decades and secondly, markets are more efficient in growth phases in comparison to its preceding decline. Similarly, employing wavelet decomposition in conjunction with EGARCH, we obtain volatility of stock markets in two distinct time horizons, i.e. short term and long term. We find the markets to be more stable during economic boom than its preceding bust. Our results confer with mainstream literature.

  3. Radiation exposure of German aircraft crews under the impact of solar cycle 23 and airline business factors.

    Science.gov (United States)

    Frasch, Gerhard; Kammerer, Lothar; Karofsky, Ralf; Schlosser, Andrea; Stegemann, Ralf

    2014-12-01

    The exposure of German aircraft crews to cosmic radiation varies both with solar activity and operational factors of airline business. Data come from the German central dose registry and cover monthly exposures of up to 37,000 German aircraft crewmembers that were under official monitoring. During the years 2004 to 2009 of solar cycle 23 (i.e., in the decreasing phase of solar activity), the annual doses of German aircraft crews increased by an average of 20%. Decreasing solar activity allows more galactic radiation to reach the atmosphere, increasing high-altitude doses. The rise results mainly from the less effective protection from the solar wind but also from airline business factors. Both cockpit and cabin personnel differ in age-dependent professional and social status. This status determines substantially the annual effective dose: younger cabin personnel and the elder pilots generally receive higher annual doses than their counterparts. They also receive larger increases in their annual dose when the solar activity decreases. The doses under this combined influence of solar activity and airline business factors result in a maximum of exposure for German aircrews for this solar cycle. With the increasing solar activity of the current solar cycle 24, the doses are expected to decrease again.

  4. The relationship between macroeconomic and industry-specific business cycle indicators and work-related injuries among Danish construction workers.

    Science.gov (United States)

    Nielsen, Kent Jacob; Lander, F; Lauritsen, J M

    2015-04-01

    The current study examines and compares the relationship between both macroeconomic and industry-specific business cycle indicators, and work-related injuries among construction workers in Denmark using emergency department (ED) injury data and also officially reported injuries to the Danish Working Environment Authority (WEA). The correlations between ED and WEA injury data from the catchment area of Odense University Hospital during the period 1984-2010 were tested separately for variability and trend with two general macroeconomic indicators (gross domestic product and the Danish unemployment rate) and two construction industry-specific indicators (gross value added and the number of employees). The results show that injury rates increase during economic booms and decrease during recessions. However, the regression coefficients were generally weak for both the ED (range 0.14-0.20) and WEA injuries (range 0.13-0.36). Furthermore, although there is some variability in the strength of the relationship of the different business cycle indicators, the relationships are generally not stronger for the WEA injuries than for the ED injuries, except for general unemployment. Similarly, no substantial differences in strength of relation between industry-specific and macroeconomic indicators were identified. The study shows that there was no difference in the relationship between business cycle indicators, and WEA and ED injury data. This indicates that changes in reporting behaviour do not seem to play a major role in the relation between the business cycle and workplace injuries in a Danish context. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  5. International outsourcing over the business cycle: some intuition for Germany, the Czech Republic and Slovakia

    Directory of Open Access Journals (Sweden)

    Sandrine LEVASSEUR

    2010-12-01

    Full Text Available In this paper, we assess the extent to which multinational firms – in the first instance, the German ones – may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, we have used monthly data of production for the manufacturing sector as a whole and some of its sub-sectors, since 2000 onwards. Our econometrical estimates suggest that there would be an asymmetry in the international outsourcing across the states of the economy, meaning that multinationals firms would be engaged differently in outsourcing activities, depending on whether bad or good economic times occur. Yet, such an asymmetry is found increasing over the time for German and French multinationals operating in the transport equipment sector of Slovakia. Another conclusion is that international outsourcing made by multinational firms in Slovakia may account for a portion of its large business cycles volatility.

  6. Should we expect financial globalization to have significant effects on business cycles?

    OpenAIRE

    Iversen, Jens

    2009-01-01

    Empirical research suggests that financial globalization has insignificant effects on business cycles. Based on standard theoretical models it might be conjectured that the effects should be significant. I show that this conjecture is wrong. Theoretical effects of financial globalization can be determined to any level of precision by expanding the underlying artificial samples. In contrast, in the data the effects are imprecisely estimated because of short samples. I show that if the conclusi...

  7. The Role of Permanent and Transitory Components in Business Cycle Volatility Moderation

    OpenAIRE

    Korenok, Oleg; Radchenko, Stanislav

    2004-01-01

    The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic components. We find that the moderation of business cycle was a result of the moderation in transitory and idiosyncratic components. Our results suggest that important part of stochastic process that driv...

  8. Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity

    OpenAIRE

    Schmitt-Grohé, Stephanie; Uribe, Martín

    2010-01-01

    This paper identifies a new source of business-cycle fluctuations. Namely, a common stochastic trend in neutral and investment-specific productivity. We document that in U.S. postwar quarterly data total factor productivity (TFP) and the relative price of investment are cointegrated. We show theoretically that TFP and the relative price of investment are cointegrated if and only if neutral and investment-specific productivity share a common stochastic trend. We econometrically estimate an RBC...

  9. A study on the complexity of a business cycle model with great excitements in non-resonant condition

    International Nuclear Information System (INIS)

    Ma Junhai; Cui Yaqiang; Liulixia

    2009-01-01

    Based on the researches of Szydlowski and Krawiec, we studied the inherent complexity of a chaotic business cycle with great excitements in non-resonant condition. First, we got the first-order and second-order approximate solutions of the system by using multiple scale method. Then deduced the formulation reflecting the complex relations between vibration, phase, bifurcation parameter μ and excite frequency Ω of first-order solution. As the great excitement F varied, the global changes of the system solutions were analyzed. We also explored the different paths leading the systems with different parameter combinations into catastrophe region, fuzzy region or chaos region. Finally, we discussed the evolution trends of business cycle models under the above-mentioned conditions. Hence, this paper has some theoretical and practical significance.

  10. Does Business Cycle Have an Impact on Entrants and Exits?

    Directory of Open Access Journals (Sweden)

    Nikolay Sterev

    2017-03-01

    Full Text Available Purpose: The role of entrants and exits has enlarged indisputably over recent years. The basic explanation is connected to the deepening of innovation's influence on industrial growth. Furthermore, new businesses have to be more effective, and based on products, technological or organizational innovations, and exits have to be ineffective (respectively unprofitable, based on denoted products or technology. Design/methodology/approach: According to the above-mentioned prerequisites, policymakers need to manage the role (respectively the impact that entrants (new start-up companies and exits play in industrial growth. Nevertheless, this impact is not a cornerstone of the Bulgarian National Strategy, or the Europe 2020 Strategy. Findings: The paper tries to answer the following two questions: 1 Do new start-up companies and exits have any role and influence on economic growth in Bulgaria? and 2 Does the role (respectively the impact of entrants and exits in industrial growth change according to economic cycle? Research limitations/implications: In addition, according to the Lisbon Strategy, as well as the European Union's (EU Strategy 2020, the current economic policy supports entrepreneurship and innovations. Thus, the establishment of innovative companies, as well as the development of innovative, incumbent business are core issues of EU economic policy for the past decade. Originality/value: The paper builds on the industrial dynamic methodology and on the understanding of how business decisions (entrepreneurship, innovations, and R&D on micro level correspond to macro level (GDP growth and innovation policy.

  11. Classical linear-control analysis applied to business-cycle dynamics and stability

    Science.gov (United States)

    Wingrove, R. C.

    1983-01-01

    Linear control analysis is applied as an aid in understanding the fluctuations of business cycles in the past, and to examine monetary policies that might improve stabilization. The analysis shows how different policies change the frequency and damping of the economic system dynamics, and how they modify the amplitude of the fluctuations that are caused by random disturbances. Examples are used to show how policy feedbacks and policy lags can be incorporated, and how different monetary strategies for stabilization can be analytically compared. Representative numerical results are used to illustrate the main points.

  12. Political Business Cycle on the Agricultural Supports in Turkey

    Directory of Open Access Journals (Sweden)

    M. Burak ONEMLI

    2015-05-01

    Full Text Available This study investigates whether there is a political business cycle (PBC on the agricultural supports in the Turkish economy. In this respect, we investigate the policies of different Turkish governments for the agricultural supports measured by the producer support estimates for the period 1986-2011. To this end, first the series for the producer support estimates are filtered by the Hodrick-Prescott filter, and then an econometric model is employed to estimate the effects of a set of explanatory variables including the economic crisis, the opportunistic and the partisan characteristics of the incumbent parties. Our results provide limited support for the opportunistic type PBC. Moreover, it seems that some Turkish governments have created the partisanship type PBCs

  13. Incorporating the knowledge management cycle in e-business

    NARCIS (Netherlands)

    O, Y.L.; Gordijn, Jaap; Akkermans, Hans

    2001-01-01

    In e-business, knowledge can be extracted from the recorded information by intelligent data analysis and then utilised in the business transaction. E-knowledge is a foundation for e-business. E-business can be supported by an intelligent information system that provides intelligent business process

  14. Multiple job holding, local labor markets, and the business cycle

    Directory of Open Access Journals (Sweden)

    Barry T. Hirsch

    2016-04-01

    Full Text Available Abstract About 5 % of US workers hold multiple jobs, which can exacerbate or mitigate employment changes over the business cycle. Theory is ambiguous and prior literature is not fully conclusive. We examine the relationship between multiple job holding and local unemployment rates using a large Current Population Survey data set of workers in urban labor markets during 1998–2013. Labor markets with high unemployment have moderately lower rates of multiple job holding. Yet no relationship between multiple job holding and unemployment is found within markets over time, with near-zero estimates being precisely estimated. Multiple job holding is largely acyclic. JEL Classification: J21

  15. Income-related inequalities in diseases and health conditions over the business cycle

    OpenAIRE

    Asgeirsdottir, Tinna Laufey; Hildur Margrét, Jóhannsdóttir

    2017-01-01

    How business cycles affect income-related distribution of diseases and health disorders is largely unknown. We examine how the prevalence of thirty diseases and health conditions is distributed across the income spectrum using survey data collected in Iceland in 2007, 2009 and 2012. Thus, we are able to take advantage of the unusually sharp changes in economic conditions in Iceland during the Great Recession initiated in 2008 and the partial recovery that had already taken place by 2012 to an...

  16. Is Intra-Industry Trade Specialization a Precondition to Business Cycle Synchronization When Joining the Euro Area? The Case of Poland

    Directory of Open Access Journals (Sweden)

    Kawecka-Wyrzykowska Elżbieta

    2017-12-01

    Full Text Available The first objective of this paper is to present theoretical approaches to the impact of trade growth (induced by monetary integration on business cycle synchronization which is an important factor of a country’s readiness for a currency union accession. The main conclusion from the first part of the analysis is that business cycle convergence and the cost of the lack of an autonomous monetary policy depend on intra-industry trade (IIT intensity rather than on general trade growth. The second objective is to assess - using the IIT index as a measure of business cycle synchronization (and of susceptibility to asymmetric shocks transmitted mostly through trade channels - preparedness of the Polish economy to the euro adoption. Calculations reveal that the IIT intensity in Poland is already relatively high (in particular in relations with the euro area members and continues to rise. This confirms the increasing complementarity of Poland’s economy with the economic structures of the euro area partners which reduces the probability of asymmetric shocks.

  17. A dynamic IS-LM business cycle model with two time delays in capital accumulation equation

    Science.gov (United States)

    Zhou, Lujun; Li, Yaqiong

    2009-06-01

    In this paper, we analyze a augmented IS-LM business cycle model with the capital accumulation equation that two time delays are considered in investment processes according to Kalecki's idea. Applying stability switch criteria and Hopf bifurcation theory, we prove that time delays cause the equilibrium to lose or gain stability and Hopf bifurcation occurs.

  18. Road accidents and business cycles in Spain.

    Science.gov (United States)

    Rodríguez-López, Jesús; Marrero, Gustavo A; González, Rosa Marina; Leal-Linares, Teresa

    2016-11-01

    This paper explores the causes behind the downturn in road accidents in Spain across the last decade. Possible causes are grouped into three categories: Institutional factors (a Penalty Point System, PPS, dating from 2006), technological factors (active safety and passive safety of vehicles), and macroeconomic factors (the Great recession starting in 2008, and an increase in fuel prices during the spring of 2008). The PPS has been blessed by incumbent authorities as responsible for the decline of road fatalities in Spain. Using cointegration techniques, the GDP growth rate, the fuel price, the PPS, and technological items embedded in motor vehicles appear to be statistically significantly related with accidents. Importantly, PPS is found to be significant in reducing fatal accidents. However, PPS is not significant for non-fatal accidents. In view of these results, we conclude that road accidents in Spain are very sensitive to the business cycle, and that the PPS influenced the severity (fatality) rather than the quantity of accidents in Spain. Importantly, technological items help explain a sizable fraction in accidents downturn, their effects dating back from the end of the nineties. Copyright © 2016 Elsevier Ltd. All rights reserved.

  19. The impact of monetary policy on New Zealand business cycles and inflation variability

    OpenAIRE

    Nathan McLellan; Robert A Buckle; Kunhong Kim

    2004-01-01

    This paper uses the open economy structural VAR model developed in Buckle, Kim, Kirkham, McLellan and Sharma (2002) to evaluate the impact of monetary policy on New Zealand business cycles and inflation variability and the output/inflation variability trade-off. The model includes a forward-looking Taylor Rule to identify monetary policy and the impact of monetary policy is evaluated by deriving a monetary policy index using a procedure suggested by Dungey and Pagan (2000). Monetary policy ha...

  20. Born at the right time? Childhood health and the business cycle.

    Science.gov (United States)

    Angelini, Viola; Mierau, Jochen O

    2014-05-01

    We analyze the relationship between the state of the business cycle at birth and childhood health. We use a retrospective survey on self-reported childhood health for ten Western European countries and combine it with historically and internationally comparable data on the Gross Domestic Product. We validate the self-reported data by comparing them to realized illness spells. We find a positive relationship between being born in a recession and childhood health. This relationship is not driven by selection effects due to heightened infant mortality during recessions. Placebo regressions indicate that the observed effect is not spurious. Copyright © 2014 Elsevier Ltd. All rights reserved.

  1. On business cycles synchronization in Europe: A note on network analysis

    Science.gov (United States)

    Matesanz, David; Ortega, Guillermo J.

    2016-11-01

    In this paper we examine synchronization in European business cycles from 1950 to 2013. Herein we further investigate previous and controversial results that arise from complex network analysis of this topic. By focusing on the importance of different configurations in the commonly used rolling windows and threshold significance levels, we find that selections are critical to obtaining accurate networks. Output co-movement and connectivity show no appreciable changes during the beginning of the Euro period, but rather dramatic jumps are observed since the outbreak of the global financial crisis. At this time, previous lead/lag effects disappeared and in-phase synchronization across Europe was observed.

  2. Business cycles and fertility dynamics in the United States: a vector autoregressive model.

    Science.gov (United States)

    Mocan, N H

    1990-01-01

    "Using vector-autoregressions...this paper shows that fertility moves countercyclically over the business cycle....[It] shows that the United States fertility is not governed by a deterministic trend as was assumed by previous studies. Rather, fertility evolves around a stochastic trend. It is shown that a bivariate analysis between fertility and unemployment yields a procyclical picture of fertility. However, when one considers the effects on fertility of early marriages and the divorce behavior as well as economic activity, fertility moves countercyclically." excerpt

  3. Effectively Serving the Needs of Today's Business Student: The Product Life Cycle Approach to Class Organization

    Science.gov (United States)

    Eastman, Jacqueline K.; Aviles, Maria; Hanna, Mark

    2012-01-01

    We illustrate a class organization process utilizing the concept of the Product Life Cycle to meet the needs of today's millennial student. In the Introduction stage of a business course, professors need to build structure to encourage commitment. In the Growth stage, professors need to promote the structure through multiple, brief activities that…

  4. Turning points in nonlinear business cycle theories, financial crisis and the 2007-2008 downturn.

    Science.gov (United States)

    Dore, Mohammed H I; Singh, Ragiv G

    2009-10-01

    This paper reviews three nonlinear dynamical business cycle theories of which only one (The Goodwin model) reflects the stylized facts of observed business cycles and has a plausible turning point mechanism. The paper then examines the US (and now global) financial crisis of 2008 and the accompanying downturn in the US. The paper argues that a skewed income distribution could not sustain effective demand and that over the 2001-2006 expansion demand was maintained through massive amounts of credit, with more than 50 percent of sales in the US being maintained through credit. A vector autoregression model confirms the crucial role played by credit. However legislative changes that dismantled the restrictions placed on the financial sector after the crash of 1929 and the consequent structural changes in the financial sector after 1980 enabled the growth of new debt instruments and credit. But overexpansion of credit when profits and house prices were declining in 2005/06 led to a nonlinear shift due to a new realization of the poor quality of some of this debt, namely mortgage backed securities. Bankruptcies, followed by retrenchment at the banks, then led to the bursting of the credit bubble, with the possibility of a severe recession.

  5. Ageism and the business cycle: an exploratory approach

    Directory of Open Access Journals (Sweden)

    Laetitia Challe

    2017-12-01

    Full Text Available Addressing discrimination within the professional sphere is becoming ever more important in French public debate in both the legal and managerial fields. A number of the 18 grounds of discrimination recognised under French law such as gender and ethnicity have been widely discussed in the scientific literature. However, unlike studies undertaken in English-speaking countries, few French-speaking researchers have explored age discrimination. This issue warrants analysis insofar as the actual economic context has forced governments to encourage more people to remain in the labour market. This objective, however, has proven difficult to achieve. A critical question is whether age-related labour market participation gaps depend on individual characteristics. If not, other factors might come into play, including possible discrimination. First, we review the employment of older workers over time. We then use econometric methods to assess the nature of labour market participation gaps and analyse their relationship with business cycles. With regard to the latter point, our findings reveal differences between men and women.

  6. Mortality and the business cycle: Evidence from individual and aggregated data.

    Science.gov (United States)

    van den Berg, Gerard J; Gerdtham, Ulf G; von Hinke, Stephanie; Lindeboom, Maarten; Lissdaniels, Johannes; Sundquist, Jan; Sundquist, Kristina

    2017-12-01

    There has been much interest recently in the relationship between economic conditions and mortality, with some studies showing that mortality is pro-cyclical, while others find the opposite. Some suggest that the aggregation level of analysis (e.g. individual vs. regional) matters. We use both individual and aggregated data on a sample of 20-64 year-old Swedish men from 1993 to 2007. Our results show that the association between the business cycle and mortality does not depend on the level of analysis: the sign and magnitude of the parameter estimates are similar at the individual level and the aggregate (county) level; both showing pro-cyclical mortality. Copyright © 2017 Elsevier B.V. All rights reserved.

  7. REDISCOVERING MISES-HAYEK MONETARY AND BUSINESS CYCLE THEORY IN LIGHT OF THE CURRENT CRISIS: CREDIT EXPANSION AS A SOURCE OF ECONOMIC BOOM AND BUST

    Directory of Open Access Journals (Sweden)

    Marcin Mrowiec

    2013-10-01

    Full Text Available The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business Cycle Theory, and how the same observations on the nature of credit constituted the kernel of the Chicago Plan (though Mises’ views on the nature of credit led him to different conculsions than it led the authors of the Chicago Plan, and how this plan is being “rediscovered” now. The following sections deal with observations of one of the preeminent current macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian Business Cycle Theory gave the same answer regarding the sources of economic crises that now modern macroeconomic theory seems to be approaching, and that the postulates for successful financial cycle modeling are already included in the ABCT. Finally, some observations on the current crisis, as well as proposals of avenues of further research are proposed.

  8. Business Cycle and Risk Premium in the Colombian Stock Market

    Directory of Open Access Journals (Sweden)

    Andrés Mauricio Gómez Sánchez

    2013-11-01

    Full Text Available Through the Hodrick-Prescott methodology this paper presents a review about the relationship between the ex post risk premium of the stock market and business cycles observed in Colombia. Through quarterly information from the fourth quarter of 2001 to the third quarter of 2012, statistical evidence shows that the increase and decrease of ex post risk premium follow a countercyclical behavior in tune with existing research conducted about the United States and emerging economies, although with non-contemporary relationships with private consumption. In addition, it is found that in the last decade the Colombian risk premium follows a process of Auto Regressive Moving Average Models (ARMA, showing that there is no variation in at least two consecutive quarters and whose behavior is generated in part by external events at the domestic economic activity level experienced in near past periods.

  9. State Fiscal Constraints and Higher Education Spending: The Role of Medicaid and the Business Cycle. Discussion Paper.

    Science.gov (United States)

    Kane, Thomas J.; Orszag, Peter R.; Gunter, David L.

    This study used state-level data on expenditures since 1977 to study the forces underlying the shift in state financing of higher education. The focus is on interactions between state appropriations for higher education, other state budget items, especially Medicaid, and the business cycle. The first section documents the substantial decline in…

  10. Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle

    Directory of Open Access Journals (Sweden)

    Dimitris Gavalas

    2014-03-01

    Full Text Available Credit risk measurement remains a critical field of top priority in banking finance, directly implicated in the recent global financial crisis. This paper examines the dynamic linkages between credit risk migration due to rating shifts and prevailing macroeconomic conditions, reflected in alternative business cycle states. An innovative empirical methodology applies to bank internal rating data, under different economic scenarios and investigates the implications of credit risk quality shifts for risk rating transition matrices. The empirical findings are useful and critical for banks to align to Basel guidelines in relation to core capital requirements and risk-weighted assets in the underlying loan portfolio.

  11. Evidence on a Real Business Cycle Model with Neutral and Investment-Specific Technology Shocks using Bayesian Model Averaging

    NARCIS (Netherlands)

    R.W. Strachan (Rodney); H.K. van Dijk (Herman)

    2010-01-01

    textabstractThe empirical support for a real business cycle model with two technology shocks is evaluated using a Bayesian model averaging procedure. This procedure makes use of a finite mixture of many models within the class of vector autoregressive (VAR) processes. The linear VAR model is

  12. Magnitude X on the Richter Scale: Welfare Cost of Business Cycles in Developing Countries

    OpenAIRE

    Stephane Pallage; Michel Robe

    2000-01-01

    Economic fluctuations are much stronger in developing countries than in the United States. Yet, while a large literature debates what constitutes a reasonable estimate of the welfare cost of business cycles in the US, it remains an open question how large that cost is in developing countries. Using several model economies, we provide such a measure for a large number of low--income countries. Our first main result is that the welfare cost of output fluctuations per se is far from trivial in t...

  13. Stability and bifurcation analysis in a kind of business cycle model with delay

    International Nuclear Information System (INIS)

    Zhang Chunrui; Wei Junjie

    2004-01-01

    A kind of business cycle model with delay is considered. Firstly, the linear stability of the model is studied and bifurcation set is drawn in the appropriate parameter plane. It is found that there exist Hopf bifurcations when the delay passes a sequence of critical values. Then the explicit algorithm for determining the direction of the Hopf bifurcations and the stability of the bifurcating periodic solutions are derived, using the normal form method and center manifold theorem. Finally, a group conditions to guarantee the global existence of periodic solutions is given, and numerical simulations are performed to illustrate the analytical results found

  14. Credit spread variability in U.S. business cycles: the Great Moderation versus the Great Recession

    OpenAIRE

    Hylton Hollander; Guangling Liu

    2014-01-01

    This paper establishes the prevailing financial factors that influence credit spread variability, and its impact on the U.S. business cycle over the Great Moderation and Great Recession periods. To do so, we develop a dynamic general equilibrium framework with a central role of financial intermediation and equity assets. Over the Great Moderation and Great Recession periods, we find an important role for bank market power (sticky rate adjustments and loan rate markups) on credit spread variab...

  15. Credit spread variability in U.S. business cycles: The Great Moderation versus the Great Recession

    OpenAIRE

    Hylton Hollander and Guangling Liu

    2014-01-01

    This paper establishes the prevailing financial factors that influence credit spread variability, and its impact on the U.S. business cycle over the Great Moderation and Great Recession periods. To do so, we develop a dynamic general equilibrium framework with a central role of financial intermediation and equity assets. Over the Great Moderation and Great Recession periods, we find an important role for bank market power (sticky rate adjustments and loan rate markups) on credit spread variab...

  16. The effect of business cycle fluctuations on private-label share : What has marketing conduct got to do with it?

    NARCIS (Netherlands)

    Lamey, L.; Deleersnyder, B.; Steenkamp, J.E.B.M.; Dekimpe, M.G.

    2012-01-01

    The authors investigate whether, and to what extent, marketing conduct varies over the business cycle and how this contributes to the growing popularity of private labels. To address this issue, they examine a unique data set that combines a broad set of seven marketing-mix instruments with

  17. Doing Business Regional Profile 2016 : Organization for the Harmonization of Business Law in Africa

    OpenAIRE

    World Bank Group

    2016-01-01

    Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  18. Doing Business Regional Profile 2012 : Organization for the Harmonization of Business Law in Africa

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  19. Income inequality and the business cycle

    Directory of Open Access Journals (Sweden)

    Shahee Mostafa

    2015-01-01

    Full Text Available This paper first examines the relationship between ordinary least squares estimators of consumption and investment for 36 selected countries with their respective Gini indices. The analysis shows that income inequality is consistent with a smaller estimator of consumption and a greater estimator of investment. Second, the cycles of GDP, consumption and investment are dated separately to determine how the deepness and duration of cycles of those variables are correlated with the Gini indices of countries. The results show that income inequality leads to a deeper and longer decline of GDP, which causes a greater cumulative income loss of GDP during recession, and a somewhat faster speed of recovery during expansion. Likewise, the result of a correlation between Gini indices and the number of cycles in consumption, investment and GDP indicate that income inequality is associated with a greater number of cycles in consumption and GDP and a lower number of cycles in investment.

  20. The great moderation of inflation: a structural analysis of recent U.S. monetary business cycles

    OpenAIRE

    Casares Polo, Miguel; Vázquez, Jesús

    2012-01-01

    U.S. inflation has experienced a great moderation in the last two decades. This paper examines the factors behind this and other stylized facts, such as the weaker correlation of inflation and nominal interest rate (Gibson paradox). Our findings point at lower exogenous variability of supply-side shocks and, to a lower extent, structural changes in money demand, monetary policy, and firms’ sticky pricing behavior as the main driving forces of the changes observed in recent U.S. business cycle...

  1. A core ontology for business process analysis

    NARCIS (Netherlands)

    Pedrinaci, C.; Domingue, J.; Alves De Medeiros, A.K.; Bechhofer, S.; Hauswirth, M.; Hoffmann, J.; Koubarakis, M.

    2008-01-01

    Business Process Management (BPM) aims at supporting the whole life-cycle necessary to deploy and maintain business processes in organisations. An important step of the BPM life-cycle is the analysis of the processes deployed in companies. However, the degree of automation currently achieved cannot

  2. Impact of the business environment on the conditions for starting business in Republic of Macedonia

    OpenAIRE

    Serafimova, Mimoza

    2017-01-01

    This paper analyzes how easy or difficult is for local entrepreneur to open and run business with small and medium-sized enterprises when it meets the relevant legislation. From the changes in the regulations that influence the life cycle of the business, we will set the perspective for starting a business. This paper will consider the business environment in terms of starting a business. The paper presents data on the indicators for quantitative indicators for business regulations and the pr...

  3. The timing of pollution abatement investments and the business cycle. An international comparison

    Energy Technology Data Exchange (ETDEWEB)

    Bouman, M. [Department of Economics, Faculty of Economics and Econometrics, University of Amsterdam, Amsterdam (Netherlands); Hofkes, M.W. [Department of Economics, Faculty of Economics and Econometrics, Vrije Universiteit Amsterdam, Amsterdam (Netherlands)

    1995-12-31

    A simple equilibrium business-cycle model for an economy with both clean- and dirty-producing plants is developed. The authors derive that the optimal timing of cleaning the production process is during a slowdown of the economy. Due to external effects and market failures the timing of pollution abatement investments is not expected to be optimal in the real world. We test the optimality of the timing of those investments with data for Germany, the Netherlands and the U.S.A. It appears that for more than 25 percent of the sectors pollution abatement investments show counter-cyclical behaviour, while in only one sector these investments are pro-cyclical. 1 tab., 3 appendices, 10 refs.

  4. The timing of pollution abatement investments and the business cycle. An international comparison

    International Nuclear Information System (INIS)

    Bouman, M.; Hofkes, M.W.

    1995-01-01

    A simple equilibrium business-cycle model for an economy with both clean- and dirty-producing plants is developed. The authors derive that the optimal timing of cleaning the production process is during a slowdown of the economy. Due to external effects and market failures the timing of pollution abatement investments is not expected to be optimal in the real world. We test the optimality of the timing of those investments with data for Germany, the Netherlands and the U.S.A. It appears that for more than 25 percent of the sectors pollution abatement investments show counter-cyclical behaviour, while in only one sector these investments are pro-cyclical. 1 tab., 3 appendices, 10 refs

  5. Methodological approaches based on business rules

    OpenAIRE

    Anca Ioana ANDREESCU; Adina UTA

    2008-01-01

    Business rules and business processes are essential artifacts in defining the requirements of a software system. Business processes capture business behavior, while rules connect processes and thus control processes and business behavior. Traditionally, rules are scattered inside application code. This approach makes it very difficult to change rules and shorten the life cycle of the software system. Because rules change more quickly than the application itself, it is desirable to externalize...

  6. Transportation Business Plan

    International Nuclear Information System (INIS)

    1986-01-01

    The Transportation Business Plan is a step in the process of procuring the transportation system. It sets the context for business strategy decisions by providing pertinent background information, describing the legislation and policies governing transportation under the NWPA, and describing requirements of the transportation system. Included in the document are strategies for procuring shipping casks and transportation support services. In the spirit of the NWPA directive to utilize the private sector to the maximum extent possible, opportunities for business ventures are obvious throughout the system development cycle

  7. How Small Businesses Market Their Products during the Different Phases of the Product Life Cycle: The Case of Swedish Ice Cream Manufacturers

    Directory of Open Access Journals (Sweden)

    Annika Hallberg

    2014-05-01

    Full Text Available The Swedish ice cream market of today is dominated by a few major market leaders, which makes it a challenge for small firms to make themselves visible and survive on a long-term basis. The aim of this article is to investigate and understand how small firms in the ice cream business market their products, based on the marketing mix and the portfolio matrix, during the different phases of the product life cycle. The combination of the two models for strategic planning enables the marketing manager to conduct a more complete analysis of existing products and their place on the market and in the product life cycle. Eight CEOs of small-scale ice cream companies were interviewed. This study found that the marketing activities and strategies of large companies cannot be transferred to and implemented in small-scale businesses. Different marketing theories are developed for big businesses that have many employees and expert knowledge, which small companies do not possess. They also have less resources and knowledge to invest in expensive marketing activities in the marketing mix, and therefore the marketing mix models need to incorporate more of inexpensive marketing.

  8. Doing Business Economy Profile 2012 : Uruguay

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protec...

  9. Doing Business Economy Profile 2013 : Uruguay

    OpenAIRE

    World Bank; International Finance Corporation

    2012-01-01

    This tenth edition of Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting eleven areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering proper...

  10. Nonlinear dynamics in a business-cycle model with logistic population growth

    International Nuclear Information System (INIS)

    Brianzoni, Serena; Mammana, Cristiana; Michetti, Elisabetta

    2009-01-01

    We consider a discrete-time growth model of the Solow type where workers and shareholders have different but constant saving rates and the population growth dynamics is described by the logistic equation able to exhibit complicated dynamics. We show conditions for the resulting system having a compact global attractor and we describe its structure. We also perform a mainly numerical analysis using the critical lines method able to describe the strange attractor and the absorbing area, in order to show how cyclical or complex fluctuations may be produced in a business-cycle model. We study the dynamic behaviour of the model under different ranges of the main parameters, i.e. the elasticity of substitution between the two production factors and the one in the logistic equation (namely μ). We prove the existence of complex dynamics when the elasticity of substitution between production factors drops below one (so that capital income declines) or μ increases (so that the amplitude of movements in the population growth rate increases).

  11. The business cycle and drug use in Australia: evidence from repeated cross-sections of individual level data.

    Science.gov (United States)

    Chalmers, Jenny; Ritter, Alison

    2011-09-01

    This paper examined the implications of the business cycle for cannabis and alcohol use. What little we know about cannabis use suggests that young Americans (teenagers and adults in their early 20s) seem more inclined to use illicit drugs and to use them more frequently with rises in the unemployment rate. In contrast, a more fulsome alcohol literature suggests that participation in drinking is unaffected by the business cycle. Heavy drinkers drink less during economic downturns and their reduced use counteracts the fact that light drinkers might drink a little more. Using individual level data from repeated cross-sections of Australia's National Drug Strategy Household Survey (NDSHS), spanning 1991-2007, this study examined the relationship between cannabis and alcohol use of Australians aged 14-49 years and the unemployment rate and real income per capita, two indicators of the business cycle. Australians in their late 20s, 30s and 40s drink less frequently during economic downturns. If unemployment rate rises are accompanied by falls in income per capita, younger Australians will also drink less frequently. Recent participation in cannabis use (within the last year) increases with falls in income per capita regardless of age, although the increase is less marked for young people (14-24 years). Whereas the participation rate of people aged 25-49 years also falls with rising unemployment rates, the participation of younger people increases. Cannabis users younger than 35 will use more frequently as the unemployment rate rises. In contrast, older Australians will use less frequently. Australia's recent economic slowdown has been characterised by rising unemployment rates without accompanying falls in income per capita. Based on our findings this slowdown should have encouraged young Australians aged 14-24 years to both drink and use cannabis more frequently. The slowdown would have had little impact on the frequency of drinking of older Australians. However it

  12. Network-induced oscillatory behavior in material flow networks and irregular business cycles

    Science.gov (United States)

    Helbing, Dirk; Lämmer, Stefen; Witt, Ulrich; Brenner, Thomas

    2004-11-01

    Network theory is rapidly changing our understanding of complex systems, but the relevance of topological features for the dynamic behavior of metabolic networks, food webs, production systems, information networks, or cascade failures of power grids remains to be explored. Based on a simple model of supply networks, we offer an interpretation of instabilities and oscillations observed in biological, ecological, economic, and engineering systems. We find that most supply networks display damped oscillations, even when their units—and linear chains of these units—behave in a nonoscillatory way. Moreover, networks of damped oscillators tend to produce growing oscillations. This surprising behavior offers, for example, a different interpretation of business cycles and of oscillating or pulsating processes. The network structure of material flows itself turns out to be a source of instability, and cyclical variations are an inherent feature of decentralized adjustments.

  13. Exercise, physical activity, and exertion over the business cycle.

    Science.gov (United States)

    Colman, Gregory; Dave, Dhaval

    2013-09-01

    Shifts in time and income constraints over economic expansions and contractions would be expected to affect individuals' behaviors. We explore the impact of the business cycle on individuals' exercise, time use, and total physical exertion, utilizing information on 112,000 individual records from the 2003-2010 American Time Use Surveys. In doing so, we test a key causal link that has been hypothesized in the relation between unemployment and health, but not heretofore assessed. Using more precise measures of exercise (and other activities) than previous studies, we find that as work-time decreases during a recession, recreational exercise, TV-watching, sleeping, childcare, and housework increase. This, however, does not compensate for the decrease in work-related exertion due to job-loss, and total physical exertion declines. These effects are strongest among low-educated men, which is validating given that employment in the Great Recession has declined most within manufacturing, mining, and construction. We also find evidence of intra-household spillover effects, wherein individuals respond to shifts in spousal employment conditional on their own labor supply. The decrease in total physical activity during recessions is especially problematic for vulnerable populations concentrated in boom-and-bust industries, and may have longer-term effects on obesity and related health outcomes. Copyright © 2013 Elsevier Ltd. All rights reserved.

  14. Freemium Business Models as the Foundation for Growing an E-business Venture: A Multiple Case Study of Industry Leaders

    DEFF Research Database (Denmark)

    Günzel-Jensen, Franziska; Holm, Anna B.

    2015-01-01

    directly and indirectly further resource acquisition. Second, while previous literature has taken a static perspective, we contribute by illustrating the dynamic process of strategic business model design for growth. Finally, we introduce the concept of the nascent business model which is new......In e-business freemium business models have become legitimate. However, current research provides little insight on how the free and premium offering should be employed to lead to growth and success in the long run. The presented research aims to fill this gap by investigating how the property...... ‘free’ was employed in young entrepreneurial ventures’ business models in the initial life-cycle stages – opportunity recognition, market entry, and market exploitation. We find that various forms of freemium business models are employed through the initial life-cycle stages of a new venture for reasons...

  15. Challenges and solutions for adoption of advanced cycles for power generation in today's business climate

    International Nuclear Information System (INIS)

    Brockway, D.

    2002-01-01

    Total world electricity production is forecast to nearly double over the next 25 years. Dependence on fossil fuels for electricity production will continue to dominate through this period and well into the future. Currently, coal is the fuel for about 30% of total installed power generation capacity and the coal share of the electricity market is expected to remain essentially steady over the 25 year period. Nevertheless, the amount of coal consumed for power generation will increase substantially. It is expected that world coal-fired power production will grow at an average rate of 3% per annum. The forecast demand growth for power generation will require an investment of the order of US$3 trillion with about US$1 trillion in coal-fired power generation. In Australia, coal is the principal fuel for power generation, providing more than 80% of electricity production. Two thirds of electricity generation from coal in Australia relies on high-rank coals (bituminous coals) and one-third on low-rank coals (brown coals and lignite). Coal will remain the principal fuel for electricity generation, in Australia and worldwide, for many decades to come. The relatively low cost of coal in Australia, particularly brown coal in Victoria, provides the nation with an important international competitive advantage - low cost energy for industry, business and domestic consumers. However, projections by the National Electricity Market Management Company Limited (NEMMCO 2001) clearly show a looming critical shortfall in baseload supply within a decade, possibly within five or six years, in the Victorian and South Australian markets. This baseload requirement can only be partly addressed through interstate connections and cannot be met with existing plans for open cycle gas turbine peaking plant. For Australia to continue to benefit from its international competitive advantage from relatively low energy costs, there is a need to install new brown coal fired baseload power generation

  16. Spillovers between energy and FX markets: The importance of asymmetry, uncertainty and business cycle

    International Nuclear Information System (INIS)

    Khalifa, Ahmed; Caporin, Massimiliano; Hammoudeh, Shawkat

    2015-01-01

    This study constructs a theoretical volatility transmission model for petroleum and FX markets, taking into account major stylized facts and uncertainty measures and the interactions between them under stages of the business cycle. It examines the impacts of those different specifications and economic factors on the spillovers between those considered markets. The results show that the impacts of the “own” shocks (petroleum on petroleum and currency on currency) are statistically significant and positive in almost all cases as expected for the models of natural gas and WTI oil, irrespectively of the currency considered. The asymmetry effect is stronger in the oil than in the natural gas markets. There is stronger and significant evidence that uncertainty affects volatility much more the mean. For the WTI oil, almost all policy and other uncertainty measures lead to an increase in the conditional variance. For currencies, coefficients are commonly significant independent of the presence of petroleum commodities in the bivariate model. The striking result for natural gas is the limited statistical relevance of the economic policy and other uncertainty measures due to the long contracts that characterize this market. Finally, common macroeconomic forces associated with the business cycle can drive these petroleum and currency markets and may cause jumps and co-jumps in the volatility of these markets. The conclusion provides policy implications of the paper’s results. - Highlights: • Examine the impacts of uncertainty measures on energy and currency interaction. • Examine the impacts of asymmetry on energy and currency interactions. • There is stronger asymmetry in oil compared to natural gas. • Uncertainty measures have an impact on volatility dynamics for oil and currencies. • Uncertainty measures do not have an impact on natural gas.

  17. Family Business and Careers: Classic and Contemporary Issues.

    Science.gov (United States)

    Lucaccini, Luigi F.; Muscat, Eugene J.

    2001-01-01

    Presents models and life-cycle stages of family businesses and issues that have an impact on family business careers. Addresses the roles of career counselors and human resource professionals in supporting family businesses. (SK)

  18. Understanding the petrochemical cycle: Part 1

    International Nuclear Information System (INIS)

    Sedriks, W.

    1994-01-01

    Fitness in the hydrocarbon processing industry (HPI) arena involves understanding and coping with business cycles: supply and demand. This becomes increasingly more important as the industry globalizes and matures. Competitive-edge thinking needs to look hard at the forces that influence business cycles. Recognition of potential pitfalls is very important when considering: future capacity expansion, mergers and acquisitions, market departure, plant closure, potential product substitution, etc. Understanding pricing mechanisms and the workings of hockey-stick profitability profiles help HPI operators endure cycle downturns and prepare plants to maximize profits for the next upswing. The paper discusses characteristic trends, cycles in the hydrocarbon processing industry, current conditions, and mitigating cycle effects

  19. Antecedents and Consequences of Business Model Innovation

    DEFF Research Database (Denmark)

    Waldner, Florian; Poetz, Marion; Grimpe, Christoph

    2015-01-01

    evidence seems to be confined to firm-level antecedents and pays little attention to the impact of industry structure. This study investigates how different stages of an industry’s life cycle and levels of industry competition affect firms’ business model innovation, and how such innovation translates...... into innovation performance. Based on a cross-industry sample of 1,242 Austrian firms, we introduce a unique measure for the degree of innovation in a firm’s business model. The results indicate that the degree of business model innovation is highest toward the beginning of an industry life cycle, that is......What makes firms innovate their business models? Why do they engage in innovating how they create, deliver, and capture value? And how does such innovation translate into innovation performance? Despite the importance of business model innovation for achieving competitive advantage, existing...

  20. Integrated corporate structure life cycle management modeling and organization

    OpenAIRE

    Naumenko, M.; Morozova, L.

    2011-01-01

    Integrated business structure presented as complementary pool of its participants skills. The methodical approach to integrated business structure life cycle modeling proposed. Recommendations of enterprises life cycles stages correlate are submitted.

  1. A comparative view of the relationship between the business cycle and mortality, 1871-1900.

    Science.gov (United States)

    Chernomas, R

    1984-01-01

    This article compares two views on the relationship between the business cycle and mortality for the years 1871-1900. First, the views of Robert Higgs, a prominent mainstream economic historian, of the working and living conditions of this period are examined so that we may trace the reasons for his dependence on immigrants and the germs they bring with them as explanations for the procyclical relationship between mortality and short-term economic growth. This explanation is then criticized by re-examining the working and living conditions of this period and by linking these conditions to a disease theory that does not depend on exogenous forces to explain mortality patterns but rather one that focuses on historically specific political and economic processes and decisions.

  2. Business model dynamics: a case survey

    OpenAIRE

    de Reuver, Mark; Bouwman, Harry; Maclnnes, Ian

    2009-01-01

    In the turbulent world of e-commerce, companies can only survive by continuously reinventing their business models. However, because most studies look at business models as snapshots in time, there is little insight into how changing market-related, technological and regulatory conditions generally drive revisions in business models. In this paper, we examine which types of external drivers are strongest in forcing business models to change throughout their life cycle. To do so, we study 45 l...

  3. The Elements of Business Process Change

    African Journals Online (AJOL)

    user

    magnitude of the BPC effort, and its interruption to operations. Based on ... innovation, business process redesign and business process management ..... Table 5. Organization performance ( Organizational outcome and Impact). Mean SD. 1. Increased operational efficiency(decreased cycle time, inventory). 2.3 .97. 2.

  4. Business cycles and natural gas prices

    International Nuclear Information System (INIS)

    Apostolos, S.; Asghar, S.

    2005-01-01

    This paper investigates the basic stylised facts of natural gas price movements using data for the period that natural gas has been traded on an organised exchange and the methodology suggested by Kydland and Prescott (1990). Our results indicate that natural gas prices are procyclical and lag the cycle of industrial production. Moreover, natural gas prices are positively contemporaneously correlated with United States consumer prices and lead the cycle of consumer prices, raising the possibility that natural gas prices might be a useful guide for US monetary policy, like crude oil prices are, possibly serving as an important indicator variable. (author)

  5. A framework for social life cycle impact assessment

    DEFF Research Database (Denmark)

    Dreyer, Louise Camilla; Hauschild, Michael Zwicky; Schierbeck, Jens

    2006-01-01

    Goal, Scope and Background. To enhance the use of life cycle assessment (LCA) as a tool in business decision-making, a methodology for Social life cycle impact assessment (LCIA) is being developed. Social LCA aims at facilitating companies to conduct business in a socially responsible manner...... by providing information about the potential social impacts on people caused by the activities in the life cycle of their product. The development of the methodology has been guided by a business perspective accepting that companies, on the one hand, have responsibility for the people affected...... in the life cycle rather than to the individual industrial processes, as is the case in Environmental LCA. Inventory analysis is therefore focused on the conduct of the companies engaged in the life cycle. A consequence of this view is that a key must be determined for relating the social profiles...

  6. KNOWLEDGE AND THEIR SHELF LIFE IN THE BUSINESS CYCLE

    Directory of Open Access Journals (Sweden)

    Laurentia Elena SCURTU

    2015-08-01

    Full Text Available In the attempt to draw a definition to the business topics of the current period, we report to a string of descriptive key words, which appeal to a growing amount of assets, other than the physical/tangible ones. Thus, the most used words/keywords are: knowledge, skills/abilities or talents and the successful leaders that can use/exploit them productively, to achieve competitive advantage, become the key individuals in the business organizations. This is partly due to the "promise" that "the world of intangibles" guarantee to the modern corporate success. Thus, knowledge has become valuable resources in the current competitive chaos. The issue of this paper focuses on how knowledge are used in business organizations, where they can be located within the organization domain and which is their shelf life/their term of validity comparing to the one of those tangible/physical.

  7. Overall Insight into the Fashion Business

    OpenAIRE

    Hagelberg, Laura

    2015-01-01

    The aim of this thesis is to examine today’s fashion from a business perspective. In this thesis fashion business is examined through fashion history, fashion industry and life cycle, today’s fast fashion and also consumer behavior in fashion. This thesis is conducted for a Finnish fashion business, InStyle. InStyle is a family based fashion business operating mainly via online and monthly trade fairs. There is also a physical store in Savonlinna which sells InStyle brands. Though the ow...

  8. Numerical exploration of Kaldorian interregional macrodynamics: stability and the trade threshold for business cycles under fixed exchange rates.

    Science.gov (United States)

    Asada, Toichiro; Douskos, Christos; Markellos, Panagiotis

    2011-01-01

    The stability of equilibrium and the possibility of generation of business cycles in a discrete interregional Kaldorian macrodynamic model with fixed exchange rates are explored using numerical methods. One of the aims is to illustrate the feasibility and effectiveness of the numerical approach for dynamical systems of moderately high dimensionality and several parameters. The model considered is five-dimensional with four parameters, the speeds of adjustment of the goods markets and the degrees of economic interactions between the regions through trade and capital movement. Using a grid search method for the determination of the region of stability of equilibrium in two-dimensional parameter subspaces, and coefficient criteria for the flip bifurcation - and Hopf bifurcation - curve, we determine the stability region in several parameter ranges and identify Hopf bifurcation curves when they exist. It is found that interregional cycles emerge only for sufficient interregional trade. The relevant threshold is predicted by the model at 14 - 16 % of trade transactions. By contrast, no minimum level of capital mobility exists in a global sense as a requirement for the emergence of interregional cycles; the main conclusion being, therefore, that cycles may occur for very low levels of capital mobility if trade is sufficient. Examples of bifurcation and Lyapunov exponent diagrams illustrating the occurrence of cycles or period doubling, and examples of the development of the occurring cycles, are given. Both supercritical and subcritical bifurcations are found to occur, the latter type indicating coexistence of a point and a cyclical attractor.

  9. Freemium Business Models as the Foundation for Growing an E-business Venture: A Multiple Case Study of Industry Leaders

    Directory of Open Access Journals (Sweden)

    Franziska Günzel-Jensen

    2015-01-01

    Full Text Available In e-business freemium business models have become legitiate. However, current research provides litte insight on how the free and premium offring should be employed to lead to growth and success in the long run. The presented research aims to fil this gap by investiatig how the property ‘free’ was employed in young entrepreneurial ventures’ business models in the initil life-cycle stages – opportunity recognitin, market entry, and market exploitatin. We fid that various forms of freemium business models are employed through the initil life-cycle stages of a new venture for reasons of trial-and-error, learning, exploratin, legitiizatin and resource acquisitin. A freemium business model can also serve as a nascent business model, though without a sustainable monetiatin component, for fiding a sustainable business model through a series of dynamic adjustments. With our fidings we contribute to the business model literature in three ways: First, our empirical fidings show the many-sidedness of the component ‘free’ in freemium business models. Free users are of importance for network building, exploratin and exploitatin and growth over tie. Moreover, free users enable directly and indirectly further resource acquisitin. Second, while previous literature has taken a stati perspectie, we contribute by illustratig the dynamic process of strategic business model design for growth. Finally, we introduce the concept of the nascent business model which is new to the literature.

  10. Transitions to Chaos in a Seven-Equation Model of the Business Cycle with Income Redistribution and Private Debt

    Science.gov (United States)

    Colacchio, Giorgio

    In the present paper, we investigate the chaotic implications of a seven-equation model of the business cycle. The main distinguishing features of the model are related to: (a) the role played by the bargaining power in the process of income redistribution; (b) the consideration of hysteresis effects on workers’ consumption demand; (c) the effect of public expenditure on labor productivity. In addition, the role played by the agents’ memory on the actual dynamics of the economic system, with particular regard to their learning-by-doing process, is particularly emphasized. Under all these assumptions, the system exhibits a rich and complex phenomenology, characterized by a number of transitions to chaos (in particular via sequences of period doubling bifurcations), aperiodic behavior, bistability, tristability, etc. We maintain that our analysis takes us another step forward in the building of a more general model of the business cycle. In particular, the model we propose may be of help in the explanation of some peculiar features of advanced capitalist economies, with particular regard to the role played by the State in the determination of agents’ disposable income, to the debt dynamics of the various macroagents, and to the main dilemmas of economic policy. More in general, the main lesson one learns from our investigation is that “disequilibrium paths”, characterized by “complicated” dynamics which, more often than not, takes the form of aperiodic motion, should be considered as the “normal” state of the system.

  11. Business cycle effects on commercial bank loan portfolio performance in developing economies

    Directory of Open Access Journals (Sweden)

    Jack Glen

    2011-04-01

    Full Text Available This paper studies the effects of business cycles on the performance of commercial bank loan portfolios across major developing economies in the period 1996–2008. We measure loan performance via loan loss provisions (that is, recognized expenses related to expected losses in bank income statements. Our results indicate that while economic growth is the main driver of loan portfolio performance, interest rates have second-order effects. Furthermore, we find the relationship between loan loss provisions and economic growth to be highly non-linear only under extreme economic stress: GDP growth needs to decline by more than 6 percentage points (pp, in absolute terms in order to generate an increase in loan loss provisions equivalent to median emerging market bank profits; while a decline of more than 10 pp in growth implies significant capital losses, of at least 20 percent, for the median emerging market bank. In addition, we find higher loan loss provisions are associated with private sector leverage, poor loan portfolio quality, and lack of banking system penetration and capitalization.

  12. Oil prices and the U.S. business cycle

    International Nuclear Information System (INIS)

    Lescaroux, F.

    2006-06-01

    The recent surge in oil prices rakes up old fears and the spectre of stagflation hangs over worldwide economic growth's forecasts. After 30 years of research however analysts still disagree about the influence of oil prices on macro-economic variations and the estimations of the consequences of a costlier barrel differ. As to the United States for example, elasticities between real GDP and oil price form a wide spectrum stretching from a value close to -1% to -11,6%. In this context, we try to identify the potential sources of instability in the oil price-macro-economy relationship in order to explain the width of this range. First we draw attention to the distinction between the effects of an upward disequilibrium and of an upturn in the equilibrium in the oil price series. This distinction lets us share the range of published results in two parts: the elasticities of real American GDP with respect to an upward imbalance and with respect to a rise in the equilibrium price would lie approximately in the ranges extending, respectively, from -1% to -5,5% and from -5% to -11,6%. We direct our work towards the analysis of the consequences of short-run variations in the oil prices on the U.S. business cycle. We identify a set of influences which condition the vulnerability of an economy and then construct an econometric sectoral and non-linear model inspired from Marshall's theory. The simulations conducted let us explain the long-run weakening in the oil price-macro-economy relationship and highlight the prominent part played by imported inflation and monetary policy in the crisis of the 70's and 80's. According to the values of the structural factors in the model and to the shape of the oil price short-run disequilibrium, the elasticities evaluated cover the whole range of published elasticities. (author)

  13. The benefits of bad economies: Business cycles and time-based work-life conflict.

    Science.gov (United States)

    Barnes, Christopher M; Lefter, Alexandru M; Bhave, Devasheesh P; Wagner, David T

    2016-04-01

    Recent management research has indicated the importance of family, sleep, and recreation as nonwork activities of employees. Drawing from entrainment theory, we develop an expanded model of work-life conflict to contend that macrolevel business cycles influence the amount of time employees spend on both work and nonwork activities. Focusing solely on working adults, we test this model in a large nationally representative dataset from the Bureau of Labor Statistics that spans an 8-year period, which includes the "Great Recession" from 2007 through 2009. We find that during economic booms, employees work more and therefore spend less time with family, sleeping, and recreating. In contrast, in recessionary economies, employees spend less time working and therefore more time with family, sleeping, and recreating. Thus, we extend the theory on time-based work-to-family conflict, showing that there are potential personal and relational benefits for employees in recessionary economies. (c) 2016 APA, all rights reserved).

  14. Operational and real-time Business Intelligence

    Directory of Open Access Journals (Sweden)

    Daniela Ioana SANDU

    2008-01-01

    Full Text Available A key component of a company’s IT framework is a business intelligence (BI system. BI enables business users to report on, analyze and optimize business operations to reduce costs and increase revenues. Organizations use BI for strategic and tactical decision making where the decision-making cycle may span a time period of several weeks (e.g., campaign management or months (e.g., improving customer satisfaction.Competitive pressures coming from a very dynamic business environment are forcing companies to react faster to changing business conditions and customer requirements. As a result, there is now a need to use BI to help drive and optimize business operations on a daily basis, and, in some cases, even for intraday decision making. This type of BI is usually called operational business intelligence and real-time business intelligence.

  15. Methodological approaches based on business rules

    Directory of Open Access Journals (Sweden)

    Anca Ioana ANDREESCU

    2008-01-01

    Full Text Available Business rules and business processes are essential artifacts in defining the requirements of a software system. Business processes capture business behavior, while rules connect processes and thus control processes and business behavior. Traditionally, rules are scattered inside application code. This approach makes it very difficult to change rules and shorten the life cycle of the software system. Because rules change more quickly than the application itself, it is desirable to externalize the rules and move them outside the application. This paper analyzes and evaluates three well-known business rules approaches. It also outlines some critical factors that have to be taken into account in the decision to introduce business rules facilities in a software system. Based on the concept of explicit manipulation of business rules in a software system, the need for a general approach based on business rules is discussed.

  16. Mathematical model of the competition life cycle under limited resources conditions: Problem statement for business community

    Science.gov (United States)

    Shelomentsev, A. G.; Medvedev, M. A.; Berg, D. B.; Lapshina, S. N.; Taubayev, A. A.; Davletbaev, R. H.; Savina, D. V.

    2017-12-01

    Present study is devoted to the development of competition life cycle mathematical model in the closed business community with limited resources. Growth of each agent is determined by the balance of input and output resource flows: input (cash) flow W is covering the variable V and constant C costs and growth dA/dt of the agent's assets A. Value of V is proportional to assets A that allows us to write down a first order non-stationary differential equation of the agent growth. Model includes the number of such equations due to the number of agents. The amount of resources that is available for agents vary in time. The balances of their input and output flows are changing correspondingly to the different stages of the competition life cycle. According to the theory of systems, the most complete description of any object or process is the model of its life cycle. Such a model describes all stages of its development: from the appearance ("birth") through development ("growth") to extinction ("death"). The model of the evolution of an individual firm, not contradicting the economic meaning of events actually observed in the market, is the desired result from modern AVMs for applied use. With a correct description of the market, rules for participants' actions, restrictions, forecasts can be obtained, which modern mathematics and the economy can not give.

  17. 7 CFR 1980.498 - Business and Industry Disaster Loans.

    Science.gov (United States)

    2010-01-01

    ... loan will be due and payable to coincide with the cash flow operating cycle of the business... 7 Agriculture 14 2010-01-01 2009-01-01 true Business and Industry Disaster Loans. 1980.498 Section..., RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF...

  18. Business model reconfiguration in green construction: A theoretical perspective

    OpenAIRE

    Abuzeinab, Amal; Arif, Mohammed

    2013-01-01

    PhD study Business models describe the business logic of a particular company and green business model is when a company changes part(s) of its business model and thereby both captures economic value and reduces the ecological footprint in a life-cycle perspective. In this paper, business model literature is reviewed with the intention of promoting learning to understand the economic complexity of environmental sustainability in the construction context. Although the green construction lit...

  19. Challenge to establishment of nuclear fuel cycle

    International Nuclear Information System (INIS)

    Nakajima, Ichiro

    2000-01-01

    Japan Nuclear Cycle Development Inst. (JNC) has promoted some efforts on introduction of business management cycle system integrated on safety security and business management, planning a safety conservation system with effectiveness concept on risk, and their practice steadily and faithfully. Here were described on some characteristic items on effort of safety promotion since establishment of JNC. And, here were also introduced on outlines of some research actions, at a center of research and development on a high breeding reactor and its relating cycle technology carried out at present by JNC under aiming at establishment of the nuclear fuel recycling, that is to say the nuclear fuel cycle, in Japan to upgrade the nuclear security more and more. (G.K.)

  20. Managing Service Development (SaaS) as a project: business process modeling

    OpenAIRE

    Iliadi, Vasiliki; Ηλιάδη, Βασιλική

    2017-01-01

    In the context of the present thesis, we will be studying core principles of Business Process Management, and how we can take advantage of them in combination with Project Management Methodologies and modeling tools in the context of Software as a Service businesses and their development. Initially we provide the reader with an introduction to Business Process Management, how it can be used, and how the life cycle is structured. We further define the first three phases of the life cycle to...

  1. Business cycles’ correlation and systemic risk of the Japanese supplier-customer network

    Science.gov (United States)

    Chakraborty, Abhijit; Inoue, Hiroyasu; Fujiwara, Yoshi

    2017-01-01

    This work aims to study and explain the business cycle correlations of the Japanese production network. We consider the supplier-customer network, which is a directed network representing the trading links between Japanese firms (links from suppliers to customers). The community structure of this network is determined by applying the Infomap algorithm. Each community is defined by its GDP and its associated business cycle. Business cycle correlations between communities are estimated based on copula theory. Then, based on firms’ attributes and network topology, these correlations are explained through linear econometric models. The results show strong evidence of business cycle correlations in the Japanese production network. A significant systemic risk is found for high negative or positive shocks. These correlations are explained mainly by the sector and by geographic similarities. Moreover, our results highlight the higher vulnerability of small communities and small firms, which is explained by the disassortative mixing of the production network. PMID:29059233

  2. Business models for model businesses: Lessons from renewable energy entrepreneurs in developing countries

    International Nuclear Information System (INIS)

    Gabriel, Cle-Anne; Kirkwood, Jodyanne

    2016-01-01

    Against the background of mounting research suggesting entrepreneurship as a means of increasing the uptake of renewable energy technologies (RETs) in developing countries, this paper presents the findings of an exploratory investigation into the business models used by renewable energy entrepreneurs in such countries. Forty-three entrepreneurs were interviewed in 28 developing countries and secondary information about country and regional conditions was analysed. We chose the Business Model Canvas as an analytical tool and the findings shed new light on established renewable energy business types. Three different types of businesses were identified – Consultants, Distributors, and Integrators; yet, there is also some overlap between these types. These business types appeared to parallel the life cycle progression of the business, but this requires further research. A key component of the study was to assess whether the types of businesses were related to country-level conditions to assess the impact of regional differences. These comparisons revealed consistencies between country-level characteristics and the entrepreneurs’ choice of business model. Conclusions suggest that different regions may support certain business models more than others due to differing levels of government interest in renewables, governance and policy support and the relative ease of doing business. - Highlights: •Business model canvas used to analyse renewable energy entrepreneurs’ businesses. •Consultants, distributors and integrators are the main business models used. •Business model characteristics are related to country and regional conditions. •Entrepreneurs in least favourable policy environments likely to be Consultants. •Energy entrepreneurship policy should focus on promoting specific business models.

  3. FileNet's BPM life-cycle support

    NARCIS (Netherlands)

    Netjes, M.; Reijers, H.A.; Aalst, van der W.M.P.

    2006-01-01

    Business Process Management (BPM) systems provide a broad range of facilities to enact and manage operational business processes. Ideally, these systems should provide support for the complete BPM life-cycle: (re)design, configuration, execution, control, and diagnosis of processes. In the research

  4. Teaching Small Business Management in the UK Part I.

    Science.gov (United States)

    Birley, Sue; Gibb, Allan

    1984-01-01

    Reviews the key factors influencing small business management education in the United Kingdom, particularly government policies encouraging small business development. Postulates a model based on the career cycle and considers training opportunities for various stages. (SK)

  5. AREVA Business and Strategy overview April, 2010

    International Nuclear Information System (INIS)

    2010-01-01

    This document is a series of slides presenting AREVA's activities in the framework of CO 2 -free power generation: 2005-2009 Group Performance; 2010-2012 Development Plan (Build 1/3 of the new nuclear generating capacity, Secure the fuel cycle for current and future customers, Expand renewable energies offering, Ensure strong profitable growth in the T and D Division); Performances and objectives by division (Front-End, Mines and Enrichment, Reactors and Service, renewable energies, Back-End); latest key financial results; Appendices (Financial, Nuclear power, Mining business details, Conversion/Enrichment/Fuel business details, Reactors and Services business details, Back-End business details, Renewable business details)

  6. Unlocking how start-ups create business value with mobile applications: Development of an App-enabled Business Innovation Cycle

    NARCIS (Netherlands)

    Ehrenhard, Michel Léon; Wijnhoven, Alphonsus B.J.M.; van den Broek, Tijs Adriaan; Zinck Stagno, Marc

    2017-01-01

    Little is known about the business value that mobile applications (apps) can create, and how start-ups can leverage this value. We present a multiple-case study to both explain the process of app-enabled value creation and the type of value outcomes associated with the use of apps for business

  7. Income-related inequalities in diseases and health conditions over the business cycle.

    Science.gov (United States)

    Ásgeirsdóttir, Tinna Laufey; Jóhannsdóttir, Hildur Margrét

    2017-12-01

    How business cycles affect income-related distribution of diseases and health disorders is largely unknown. We examine how the prevalence of thirty diseases and health conditions is distributed across the income spectrum using survey data collected in Iceland in 2007, 2009 and 2012. Thus, we are able to take advantage of the unusually sharp changes in economic conditions in Iceland during the Great Recession initiated in 2008 and the partial recovery that had already taken place by 2012 to analyze how income-related health inequality changed across time periods that can be described as a boom, crisis and recovery. The concentration curve and the concentration index are calculated for each disease, both overall and by gender. In all cases, we find a considerable income-related health inequality favoring higher income individuals, with a slight increase over the study period. Between 2007 and 2009, our results indicate increased inequality for women but decreased inequality for men. Between 2009 and 2012 on the contrary, men's inequality increases but women's decreases. The overarching result is thus that the economic hardship of the crisis temporarily increased female income-related health inequality, but decreased that of men.

  8. Life cycle management in product development

    DEFF Research Database (Denmark)

    Skelton, Kristen; Pattis, Anna

    2013-01-01

    The integration of Life Cycle Thinking (LCT) and Life Cycle Management (LCM) into business operations poses great challenges, as it requires a wider range of environmental responsibility often extending beyond a company's immediate control. Simultaneously, it offers many opportunities...

  9. THE COMPOSITE LEADING INDICATOR FOR GERMAN BUSINESS CYCLE

    Directory of Open Access Journals (Sweden)

    Tkacova Andrea

    2017-12-01

    Full Text Available Monitoring and predicting economic cycles have returned to the awareness of economists with the impact of the economic crisis in 2007/2008. To determine the current and future state of the country’s economic cycle, Composite Leading Indicators (CLI can be used. Their structure is being dealt with by institutions at the national and international level (OECD, Eurostat. Correct predictions of public finance development and the entrepreneurship sphere are very important for competitiveness of the country. The aim of the paper is to propose a new Composite Leading Indicator (CLI to monitor and predict the German economy. The analysis of 140 quantitative and qualitative indicators of industry, services, retail, construction, foreign trade, labor market, money aggregates, stock indices, confidence indicators, consumer expectations was performed for the needs of the indicator. As the reference series represents the German economic cycle, the GDP indicator is selected at constant prices for 2010. All selected quarterly time series are applied with seasonal index methods, the Hodrick-Prescott filter (HP filter in the R program, cross-correlation with time shifts, methods selection and scoring, data standardization, identification of the same and different data and the subsequent construction of the CLI of the German economic cycle. The generated CLI can predict the German economy cycle two quarters ahead with a cross-correlation value of 0.867. The forecasting capabilities of the assembled indicator were better than the prediction capabilities of OECD, Eurostat and IFO indicator.

  10. How to Achieve Supply Chain Sustainability Efficiently? Taming the Triple Bottom Line Split Business Cycle

    Directory of Open Access Journals (Sweden)

    Matthias Klumpp

    2018-02-01

    Full Text Available For sustainable supply chains, specific concepts regarding how to efficiently improve sustainability are needed in a global comprehensive triple bottom line (TBL approach, especially for forwarders as central actors in supply chain design. Such specific advice is provided by reporting empirical DEA Malmquist index findings from seven large European forwarders regarding a TBL sustainability analysis from 2006 to 2016. A major obstacle in improving sustainability consists in the newly discovered fact that with the business cycle, the three TBL areas of economic, ecologic and social objectives for logistics are undergoing different up- and down-ward trends, making it very hard to improve all three simultaneously. Additional factors are identified in the characteristics of size and government influence regarding the sustainability efficiency of forwarders. This has important impacts on supply chain design like e.g., with selection criteria.

  11. Dynamic Analysis for a Kaldor–Kalecki Model of Business Cycle with Time Delay and Diffusion Effect

    Directory of Open Access Journals (Sweden)

    Wenjie Hu

    2018-01-01

    Full Text Available The dynamics behaviors of Kaldor–Kalecki business cycle model with diffusion effect and time delay under the Neumann boundary conditions are investigated. First the conditions of time-independent and time-dependent stability are investigated. Then, we find that the time delay can give rise to the Hopf bifurcation when the time delay passes a critical value. Moreover, the normal form of Hopf bifurcations is obtained by using the center manifold theorem and normal form theory of the partial differential equation, which can determine the bifurcation direction and the stability of the periodic solutions. Finally, numerical results not only validate the obtained theorems, but also show that the diffusion coefficients play a key role in the spatial pattern. With the diffusion coefficients increasing, different patterns appear.

  12. Life cycle management and assessment: approaches and visions towards sustainable manufacturing

    DEFF Research Database (Denmark)

    Westkämper, Engelbert; Alting, Leo; Arndt, Günther

    2001-01-01

    and optimizes the interaction of product design, manufacturing and life cycle activities. The goal of this approach is to protect resources and maximize effectiveness by means of life cycle assessment, product data management, technical support and, last but not least, life cycle costing. This paper shows....... Economically successful business areas can also be explored. Whether new service concepts are required, new regulations have been passed or consumer values are changing, the differences between business areas are disappearing. Life cycle management (LCM) considers the product life cycle as a whole...... the existing approaches of LCM and discusses their prospects and further development....

  13. Delivering IT and eBusiness value

    CERN Document Server

    Willcocks, Leslie

    2001-01-01

    Delivering Business Value from IT' is focused on the evaluation issue in IT and how IT evaluation can proceed across the life-cycle of any IT investment and be linked positively to improving business performance. .Chapters 1,2 and 3 detail an approach to IT evaluation whilst chapters 4 and 5 build on these by showing two distinctive approaches to linking IT to business performance. The remaining three chapters deal with a range of evaluation issues emerging as important - specifically Internet evaluation, Y2K and beyond, EMU, quality outsourcing, infrastructure, role of benchmarking, and cost

  14. Draft Transportaion Business Plan

    International Nuclear Information System (INIS)

    1985-08-01

    The Office of Civilian Radioactive Waste Management (OCRWM) is responsible for establishing a transportation system to support shipment of spent fuel and high-level radioactive waste to repositories and storage facilities developed under the Nuclear Waste Policy Act of 1982 (NWPA). An element that assists in fulfilling that responsibility is a business plan for acquiring and operating a transportation system. The Draft Transportation Business Plan is an interim step in the process of procuring the transportation system. It sets the context for business strategy decisions by providing pertinent background information, describing the legislation and policies governing transportation under the NWPA, and with establishing the transportation system. It also serves as an instrument for initiating communication between OCRWM and other interested parties. Included in the docuument are strategies for procuring shipping casks and transportation support services. Additionally, in the spirit of the NWPA directive to utilize the private sector to the maximum extent possible, opportunities for business ventures are obvious throughout the system development cycle

  15. PENINGKATAN KUALITAS PEMBELAJARAN STUDI KELAYAKAN BISNIS MELALUI METODE LEARNING CYCLE

    Directory of Open Access Journals (Sweden)

    Syamsu Hadi

    2011-05-01

    Full Text Available The objectives of the study are to improve the quality of learning for Studi Kelayakan Bisnis (Business Feasibility Study, to improve students’ spirit in learning, to improve lecturers’ skill in developing learning model and media and  also to improve students’ achievement in learning. This study was class action research consists of three cycles. Result of study showed students’ achievement was improving on each cycle. Students’ learning completeness before applying Learning Cycle method was 0%, after applying Learning Cycle method; students’ achievement after final test was 94%. Students’ interest, activeness and relationship in learning process with range 1-4, the result was good (3.2. Result of observation related to lecturers’ skill in managing the learning process which used map concept method with range 1-4 showed a good result with average of cycle 1, cycle 2 and cycle 3 was 3.2. That score was the average of all aspects investigated on three cycles. Based on result of study, it was suggested that for lecturers of Business Feasibility Study subject to apply Learning Cycle method in teaching-learning process. This method was approved to improve students’ ability to analyze the case and understand the concepts of Business Feasibility Study. This was because students are given opportunity to do research in the field related to the topic and then find the problems that will be discussed in the class. Thus, students are usual to think critically and analytically to face a case. And finally, students can find the topics concepts. Moreover, result of study can be applied for other subjects because this study gives the positive impact. Key words: The Quality of Learning, Business Feasibility Study Subject, LearningCycle Method

  16. Stochastic sensitivity analysis of the variability of dynamics and transition to chaos in the business cycles model

    Science.gov (United States)

    Bashkirtseva, Irina; Ryashko, Lev; Ryazanova, Tatyana

    2018-01-01

    A problem of mathematical modeling of complex stochastic processes in macroeconomics is discussed. For the description of dynamics of income and capital stock, the well-known Kaldor model of business cycles is used as a basic example. The aim of the paper is to give an overview of the variety of stochastic phenomena which occur in Kaldor model forced by additive and parametric random noise. We study a generation of small- and large-amplitude stochastic oscillations, and their mixed-mode intermittency. To analyze these phenomena, we suggest a constructive approach combining the study of the peculiarities of deterministic phase portrait, and stochastic sensitivity of attractors. We show how parametric noise can stabilize the unstable equilibrium and transform dynamics of Kaldor system from order to chaos.

  17. Modeling Cycle Dependence in Credit Insurance

    Directory of Open Access Journals (Sweden)

    Anisa Caja

    2014-03-01

    Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.

  18. Relationship finance, market finance and endogenous business cycles

    OpenAIRE

    Deidda, Luca Gabriele; Fattouh, Bassam

    2010-01-01

    This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be the source of endogenous business fluctuations. Monitoring helps reducing the inefficiency caused by moral hazard. However, the incentives of entrepreneurs to demand relationship finance to induce mon...

  19. Firm age, business cycles and aggregate labor market dynamics

    NARCIS (Netherlands)

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative

  20. Should government support business angel networks? The tale of Danish business angels network

    DEFF Research Database (Denmark)

    Christensen, Jesper Lindgaard

    2011-01-01

    . This article discusses the possible rationale for governments to support BANs and what criteria to apply when evaluating such networks. The article is based on an in-depth observation study of the whole life cycle of a national BAN – the Danish Business Angel Network (DBAN) – and a comparison with a similar......Policies promoting informal venture capital generally and business angel networks (BANs) in particular have gained increased attention in recent years. As a consequence, BANs are now widespread across Europe. However, there continues to be a debate whether BANs should be supported with public money...... whether to provide continuing support to BANs they should evaluate not only their immediate effectiveness but also whether BANs should be considered a part of the general small business support infrastructure....

  1. Business Performer-Centered Design of User Interfaces

    Science.gov (United States)

    Sousa, Kênia; Vanderdonckt, Jean

    Business Performer-Centered Design of User Interfaces is a new design methodology that adopts business process (BP) definition and a business performer perspective for managing the life cycle of user interfaces of enterprise systems. In this methodology, when the organization has a business process culture, the business processes of an organization are firstly defined according to a traditional methodology for this kind of artifact. These business processes are then transformed into a series of task models that represent the interactive parts of the business processes that will ultimately lead to interactive systems. When the organization has its enterprise systems, but not yet its business processes modeled, the user interfaces of the systems help derive tasks models, which are then used to derive the business processes. The double linking between a business process and a task model, and between a task model and a user interface model makes it possible to ensure traceability of the artifacts in multiple paths and enables a more active participation of business performers in analyzing the resulting user interfaces. In this paper, we outline how a human-perspective is used tied to a model-driven perspective.

  2. Introductory Business Textbook Revision Cycles: Are They Getting Shorter?

    Science.gov (United States)

    Zinser, Brian; Brunswick, Gary

    2010-01-01

    The rate of textbook revision cycles is examined in light of the recent trend towards more rapid revisions (and adoptions of textbooks). The authors conduct background research to better understand the context for textbook revision cycles and the environmental forces that have been influencing what appears to be more rapid textbook revisions. A…

  3. 19th CIRP Conference on Life Cycle Engineering

    CERN Document Server

    Linke, Barbara

    2012-01-01

    The 19th CIRP Conference on Life Cycle Engineering continues a strong tradition of scientific meetings in the areas of sustainability and engineering within the community of the International Academy for Production Engineering (CIRP). The focus of the conference is to review and discuss the current developments, technology improvements, and future research directions that will allow engineers to help create green businesses and industries that are both socially responsible and economically successful.  The symposium covers a variety of relevant topics within life cycle engineering including Businesses and Organizations, Case Studies, End of Life Management, Life Cycle Design, Machine Tool Technologies for Sustainability, Manufacturing Processes, Manufacturing Systems, Methods and Tools for Sustainability, Social Sustainability, and Supply Chain Management.

  4. Being born under adverse economic conditions leads to a higher cardiovascular mortality rate later in life: evidence based on individuals born at different stages of the business cycle

    DEFF Research Database (Denmark)

    van den Berg, Gerard J; Doblhammer-Reiter, Gabriele; Christensen, Kaare

    2011-01-01

    since the 1870s and including the cause of death. To capture exogenous variation of conditions early in life, we use the state of the business cycle around birth. We find significant negative effects of economic conditions around birth on the individual CV mortality rate at higher ages...

  5. Improving patient handover between teams using a business improvement model: PDSA cycle.

    Science.gov (United States)

    Luther, Vishal; Hammersley, Daniel; Chekairi, Ahmed

    2014-01-01

    Medical admission units are continuously under pressure to move patients off the unit to outlying medical wards and allow for new admissions. In a typical district general hospital, doctors working in these medical wards reported that, on average, three patients each week arrived from the medical admission unit before any handover was received, and a further two patients arrived without any handover at all. A quality improvement project was therefore conducted using a 'Plan, Do, Study, Act' cycle model for improvement to address this issue. P - Plan: as there was no framework to support doctors with handover, a series of standard handover procedures were designed. D - Do: the procedures were disseminated to all staff, and championed by key stakeholders, including the clinical director and matron of the medical admission unit. S - STUDY: Measurements were repeated 3 months later and showed no change in the primary end points. A - ACT: The post take ward round sheet was redesigned, creating a checkbox for a medical admission unit doctor to document that handover had occurred. Nursing staff were prohibited from moving the patient off the ward until this had been completed. This later evolved into a separate handover sheet. Six months later, a repeat study revealed that only one patient each week was arriving before or without a verbal handover. Using a 'Plan, Do, Study, Act' business improvement tool helped to improve patient care.

  6. MEMBANGUN EARLY WARNING INDICATORS PERGERAKAN KURS DI INDONESIA: PENGEMBANGAN BUSINESS CYCLE ANALYSIS

    Directory of Open Access Journals (Sweden)

    Andra Devi Benazir

    2011-08-01

    Full Text Available The economic crisis in 1997/1998 that was signed by depreciation rupiah almost destroyed the pillars of the economy. This exchange rate shock possibly will happen in the future like that happened in August 2007. At the same time, rupiah falled to the lowest level Rp. 9.410 per dollar (the exchange rate use the last month in August 2007. The exchange rate of its daily until above Rp 9.500 per dollar (Sadewa, 2007. Therefore, it was needed indicator of theearly detection with build leading indicators the movement of the exchange rate in Indonesia. The purpose of this research is building leading indicators the movement of the exchangerate in Indonesia. It could give the capacity forecasting of the Indonesian economy of the movement direction in a manner the aggregate with the Business Cycle Analysis method andIts development. Empirical results showed that is received by four leading indicators and four coincident indicators. The real export, the real import, foreign currency deposit, and forexbanks demand deposits in foreign currency became the moving indicator preceded the exchange rate. Whereas, there are four indicators to coincident was foreign assets, interbank call money rate 1 day, the German share index (DAX, and the USA share index (Nasdaq. This condition indicated that the exchange rate rupiah really was affected by the external factor.

  7. Forecasting business cycle with chaotic time series based on neural network with weighted fuzzy membership functions

    International Nuclear Information System (INIS)

    Chai, Soo H.; Lim, Joon S.

    2016-01-01

    This study presents a forecasting model of cyclical fluctuations of the economy based on the time delay coordinate embedding method. The model uses a neuro-fuzzy network called neural network with weighted fuzzy membership functions (NEWFM). The preprocessed time series of the leading composite index using the time delay coordinate embedding method are used as input data to the NEWFM to forecast the business cycle. A comparative study is conducted using other methods based on wavelet transform and Principal Component Analysis for the performance comparison. The forecasting results are tested using a linear regression analysis to compare the approximation of the input data against the target class, gross domestic product (GDP). The chaos based model captures nonlinear dynamics and interactions within the system, which other two models ignore. The test results demonstrated that chaos based method significantly improved the prediction capability, thereby demonstrating superior performance to the other methods.

  8. How Small Businesses Market Their Products during the Different Phases of the Product Life Cycle: The Case of Swedish Ice Cream Manufacturers

    OpenAIRE

    Annika Hallberg; Susana Friberg; Paulina Myhrman

    2014-01-01

    The Swedish ice cream market of today is dominated by a few major market leaders, which makes it a challenge for small firms to make themselves visible and survive on a long-term basis. The aim of this article is to investigate and understand how small firms in the ice cream business market their products, based on the marketing mix and the portfolio matrix, during the different phases of the product life cycle. The combination of the two models for strategic planning enables t...

  9. Promotion of uranium enrichment business

    International Nuclear Information System (INIS)

    Kurushima, Morihiro

    1981-01-01

    The Committee on Nuclear Power has studied on the basic nuclear power policy, establishing its five subcommittees, entrusted by the Ministry of Nternational Trade and Industry. The results of examination by the subcommittee on uranium enrichment business are given along with a report in this connection by the Committee. In order to establish the nuclear fuel cycle, the aspect of uranium enrichment is essential. The uranium enrichment by centrifugal process has proceeded steadily in Power Reactor and Nuclear Fuel Development Corporation. The following matters are described: the need for domestic uranium enrichment, the outlook for overseas enrichment services and the schedule for establishing domestic enrichment business, the current state of technology development, the position of the prototype enrichment plant, the course to be taken to establish enrichment business the main organization operating the prototype and commercial plants, the system of supplying centrifuges, the domestic conversion of natural uranium the subsidies for uranium enrichment business. (J.P.N.)

  10. Business cycles and the financial performance of fuel cell companies

    International Nuclear Information System (INIS)

    Henriques, I.; Sadorsky, P.

    2005-01-01

    Fuel cells are expected to play a major role in a hydrogen powered world. They will provide power to homes, modes of transportation and appliances. Hydrogen is the most abundant element in nature, but it must be extracted in order to be usable. It can be produced from oil, natural gas and coal or from renewable sources such as biomass, thermal or nuclear reactions. Fuel cells running on hydrogen extracted from non renewable resources have an efficiency of 30 per cent, which is twice as efficient as an internal combustion engine. The greatest barrier to mass commercialization is the cost of making hydrogen-powered auto engines. Also, an infrastructure must be developed to refill hydrogen cars. One solution is to build a hydrogen highway using the existing natural gas grid to produce hydrogen and sell it at existing filling stations. The cost of building 12,000 refueling pumps in urban areas which will provide access to 70 per cent of America's population is estimated at $10 to $15 billion. This paper described the vector autoregression (VAR) model which empirically examines the relationship between financial performance of fuel cell companies and business cycles. It was used to measure how sensitive the financial performance of fuel cell companies are to changes in macroeconomic activity. A four variable VAR model was developed to examine the relationship between stock prices, oil prices and interest rates. It was shown that the stock prices of fuel cell companies are affected by shocks to technology stock prices and oil prices, with the former having a longer lasting impact. These results add to the growing literature that oil price movements are not as important as once thought. 15 refs., 3 tabs., 3 figs

  11. BUSINESS PROCESS REENGINEERING AS THE METHOD OF PROCESS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    O. Honcharova

    2013-09-01

    Full Text Available The article is devoted to the analysis of process management approach. The main understanding of process management approach has been researched in the article. The definition of process and process management has been given. Also the methods of business process improvement has been analyzed, among them are fast-analysis solution technology (FAST, benchmarking, reprojecting and reengineering. The main results of using business process improvement have been described in figures of reducing cycle time, costs and errors. Also the tasks of business process reengineering have been noticed. The main stages of business process reengineering have been noticed. The main efficiency results of business process reengineering and its success factors have been determined.

  12. Deployment of e-health services - a business model engineering strategy.

    Science.gov (United States)

    Kijl, Björn; Nieuwenhuis, Lambert J M; Huis in 't Veld, Rianne M H A; Hermens, Hermie J; Vollenbroek-Hutten, Miriam M R

    2010-01-01

    We designed a business model for deploying a myofeedback-based teletreatment service. An iterative and combined qualitative and quantitative action design approach was used for developing the business model and the related value network. Insights from surveys, desk research, expert interviews, workshops and quantitative modelling were combined to produce the first business model and then to refine it in three design cycles. The business model engineering strategy provided important insights which led to an improved, more viable and feasible business model and related value network design. Based on this experience, we conclude that the process of early stage business model engineering reduces risk and produces substantial savings in costs and resources related to service deployment.

  13. Nuclear fuel cycle under progressing preparation of its systemisation

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    Trends of nuclear development in Japan show more remarkable advancements in 2000, such as new addition of nuclear power plant, nuclear fuel cycling business, and so on. Based on an instruction of the criticality accident in JCO formed on September, 1999, government made efforts on revision of the law on regulation of nuclear reactor and so forth and establishment of a law on protection of nuclear accident as sooner, to enforce nuclear safety management and nuclear accident protective countermeasure. On the other hand, the nuclear industry field develops some new actions such as establishment of Nuclear Safety Network (NSnet)', mutual evaluation of nuclear-relative works (pier review), and so forth. And, on the high level radioactive wastes disposal of the most important subject remained in nuclear development, the Nuclear Waste Management Organization of Japan' of its main business body was established on October, 1999 together with establishment of the new law, to begin a business for embodiment of the last disposal aiming at 2030s to 2040s. On the same October, the Japan Nuclear Fuel Limited. concluded a safety agreement on premise of full-dress transportation of the used fuels to the Rokkasho Reprocessing Plant in Aomori prefecture with local government, to begin their transportation from every electric company since its year end. Here were described on development of the nuclear fuel cycling business in Japan, establishment of nuclear fuel cycling, disposal on the high level radioactive wastes, R and D on geological disposal of the high level radioactive wastes, establishment on cycle back-end of nuclear fuels, and full-dressing of nuclear fuel cycling. (G.K.)

  14. Estimating and Forecasting Production and Orders in Manufacturing Industry from Business Survey Data: Evidence from Switzerland, 1990-2003

    OpenAIRE

    Richard Etter; Michael Graff

    2003-01-01

    A fundamental issue for policy-oriented business cycle research is access to leading - or at least coincident - and reliable indicators of economic activity in manufacturing industry. Therefore, we analyse how the quickly disposable, qualitative information of the business tendency survey conducted by the Swiss Institute for Business Cycle Research (KOF) is related to the official production and order statistics of Switzerland. Pairs of high cross-correlations were selected for further analys...

  15. Product Life Cycle: Moving from Theory to Practice

    Directory of Open Access Journals (Sweden)

    Stanley Buchin

    2015-02-01

    Full Text Available Restaurant, bar, and hospitality trends are rapidly changing, and businesses must be more proactive than ever before to continuously stimulate business and prepare for a products natural life cycle. This article will explore a model of predicting PLC and strategic practices that can extend the mature phase of a restaurant or bar.

  16. An Investigation of the Repair Cycle for H-53 and H-60 Helicopter Main Gearboxes - Physical Movement and Information Flows

    Science.gov (United States)

    1989-09-01

    15 The Pipeline . . 17 The Repair Cycle 20 The Order Cycle ard Order Processing 24 Summary . . . . . . . . . . . 27 III. Methodology...cycles, and order processing . The literature is found in business logistics books, business logistics periodicals, and military periodicals. 14 II...differences and problems previously outlined (1:19). The Order Cycle and Order Processing The Nature of the Order Cycle and Order Processing . Order

  17. Busy period analysis, rare events and transient behavior in fluid flow models

    Directory of Open Access Journals (Sweden)

    Søren Asmussen

    1994-01-01

    Full Text Available We consider a process {(Jt,Vt}t≥0 on E×[0,∞, such that {Jt} is a Markov process with finite state space E, and {Vt} has a linear drift ri on intervals where Jt=i and reflection at 0. Such a process arises as a fluid flow model of current interest in telecommunications engineering for the purpose of modeling ATM technology. We compute the mean of the busy period and related first passage times, show that the probability of buffer overflow within a busy cycle is approximately exponential, and give conditioned limit theorems for the busy cycle with implications for quick simulation. Further, various inequalities and approximations for transient behavior are given. Also explicit expressions for the Laplace transform of the busy period are found. Mathematically, the key tool is first passage probabilities and exponential change of measure for Markov additive processes.

  18. The Unseen Face of E-Business Project Development

    OpenAIRE

    Mesnita, Gabriela; Vasilica, Tiberiu

    2003-01-01

    The purpose of this paper is intent on identify and analyze the unseen factors of successful or failure of e-business project development. The IT managers must take into account both all costs involved in e-business development and all phases (analysis, design, testing, implementation, maintenance and operation) according to principle of project management for software/systems life cycle development. There are many solutions to exceed these factors of failure among could be counted outsourcin...

  19. Business Model Design: Lessons Learned from Tesla Motors

    OpenAIRE

    Chen , Yurong; Perez , Yannick

    2015-01-01

    International audience; Electric vehicle (EV) industry is still in the introduction stage in product life cycle, and dominant design remains unclear. EV companies, both incumbent from the car industry and new comers, have long taken numerous endeavors to promote EV in the niche market by providing innovative products and business models. While most carmakers still take 'business as usual' approach for developing their EV production and offers, Tesla Motors, an EV entrepreneurial firm, stands ...

  20. Credit cycle coherence in the eurozone : Was there a euro effect?

    NARCIS (Netherlands)

    Samarina, Anna; Zhang, Lu; Bezemer, Dirk

    2017-01-01

    This paper examines effects of the euro introduction on credit cycle coherence in the euro-zone through six channels. We construct and describe credit cycles for total bank credit, household mortgages and non-financial business loans for 16 EMU economies over 1990-2015. Credit cycle coherence is

  1. Idiosyncratic Uncertainty, Capacity Utilization and the Business Cycle

    DEFF Research Database (Denmark)

    Fragnart, Jean-Francois; Licandro, Omar; Portier, Franck

    thus hides a diversity of microeconomic situations. The variablity of the capacity utilization allows for a good description of some of the main stylized facts of the busines cycle, propagates and magnifies aggregate technological shocks and generates endogenous persistence (i.e., the output growth...

  2. Evaluation of asset replacement strategies considering economic cycles: lessons from the machinery rental business

    NARCIS (Netherlands)

    Grössler, A.; Bivona, E.; Fuzhuang, L.; Größler, A.

    2015-01-01

    In businesses with heavy capital investments, the effective management of assets is crucial, in particular in the fleet rental business where assets are the major source of revenues. One important question in this regard concerns the replacement of used assets and the purchase of new assets. Thus,

  3. Application impact analysis: a risk-based approach to business continuity and disaster recovery.

    Science.gov (United States)

    Epstein, Beth; Khan, Dawn Christine

    2014-01-01

    There are many possible disruptions that can occur in business. Overlooking or under planning for Business Continuity requires time, understanding and careful planning. Business Continuity Management is far more than producing a document and declaring business continuity success. What is the recipe for businesses to achieve continuity management success? Application Impact Analysis is a method for understanding the unique Business Attributes. This AIA Cycle involves a risk based approach to understanding the business priority and considering business aspects such as Financial, Operational, Service Structure, Contractual Legal, and Brand. The output of this analysis provides a construct for viewing data, evaluating impact, and delivering results, for an approved valuation of Recovery Time Objectives (RTO).

  4. Firm age, business cycles and aggregate labor market dynamics

    OpenAIRE

    Sedláček, P.

    2011-01-01

    Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative relationship between a firm's size and its growth rate vanishes once its age is taken into account. I extend these findings by showing that, compared to old firms, employment growth in young firms is more vo...

  5. Application of Life Cycle Assessment for Corporate Sustainability : Integrating environmental sustainability in business for value creation

    NARCIS (Netherlands)

    Manda, B.M.K.

    2014-01-01

    The main objective of this research is to make a contribution to bridge the gap between sustainability science and business management by improving the integration of sustainability in core business of corporations. The core business of corporations is to provide products and services to meet

  6. Current concept of the nuclear fuel cycle in the Czech Republic

    International Nuclear Information System (INIS)

    Priman, V.; Vesely, P.; Sedina, M.

    2001-01-01

    The article provides an overview of the major activities within the nuclear fuel cycle as practised by the Czech utility CEZ, a. s. Efforts in the fuel cycle practice are focused on the implementation of standard business principles with CEZ's contractual suppliers; application of new legislation and international design standards; and on achieving a higher technical standard of nuclear fuel and its better overall utilisation by nuclear power plants. Business activities in the procurement of nuclear materials and their diversification are discussed. The last part of the article, which is devoted to the fuel cycle back-end, describes the adopted strategy of extended spent fuel storage associated with a postponement of the final disposal. The basic principles of the CEZ's fuel cycle back-end strategy are also summarised. (author)

  7. Cultural management in family business

    Directory of Open Access Journals (Sweden)

    Patricia Amelia Tomei

    2010-01-01

    Full Text Available This article's main goal is to analyze how the evolution of organizational culture can impact business performance. A theoretical framework was developed based on a review of the literature relating to organizational culture and family business succession management models. A single case study methodology was adopted based on primary and secondary data obtained through documentary research, participant observation and interviews at Guapo Loco, a Brazilian chain of Mexican restaurants / fun bars, which is a family company and was founded in Rio de Janeiro in 1996. We focused on its leader's trajectory and its implications for the life cycle of the family business, the founder¿s dream and vision, succession and cultural management difficulties. We conclude that it is possible for an organization to become trapped by its cultural formation. We will see that as it reaches maturity, the organizational, family and shareholder dimensions need to adapt in a similar fashion. At this stage, the organizational culture may become dysfunctional, jeopardizing the organization's survival.

  8. Utilising the emergency planning cycle for the transport of radioactive material

    International Nuclear Information System (INIS)

    Fox, M.

    2004-01-01

    As a world leader in the transport of radioactive material (RAM) British Nuclear Fuels plc (BNFL) and its subsidiary Pacific Nuclear Transport Limited (PNTL) recognise the importance of adopting the emergency planning cycle. The emergency response arrangements prepared and maintained in support of the International Transport business have been developed through this cycle to ensure that their emergency response section may achieve its aim and that the business unit is able to respond to any International Transport related incident in a swift, combined and co-ordinated manner. This paper outlines the eight key stages of the planning cycle and the experience that BNFL has gained in respect of its emergency response activities

  9. Business Model and Replication Study of BIG HIT

    DEFF Research Database (Denmark)

    Zhao, Guangling; Ravn Nielsen, Eva

    (SymbioFCell) and other stakeholders, the business model is developed within the 1st year of the project. The cost analysis of this project considers the life cycle of hydrogen starting from the hydrogen production, transportation, and consumption. The cost includes the fixed cost for equipment...... at a refuelling station to fuel a fleet of up to 10 electric-hydrogen range extended vans. The present business model report includes a financial analysis of the demonstration project and should provide an early warning if there is anything that would require the project to be altered (for example, to negotiate...... system boundary includes the hydrogen production process, hydrogen transportation, and hydrogen consumption. At each stage, the data has been collected from the project partners and equipment suppliers/manufacturers. The cost of hydrogen is calculated through the life cycle of hydrogen production...

  10. Factors threatening the survival of independent financial advisers in their organisational life cycle: an exploratory study

    Directory of Open Access Journals (Sweden)

    Estelle van Tonder

    2011-06-01

    Full Text Available This study investigates various threats to the survival of independent financial advisers in their organisational life cycle.  Telephone interviews were conducted to gain more insight into the demographic data of the respondents and to attempt to group them into life cycle stages.  Personal interviews were conducted to investigate the respondents' problems.  The contribution of this study is twofold:  First, general life cycle stages applicable to the businesses of independent financial advisers were determined.  Secondly, the study identified the important problems as well as those that ought to be consideration in the advisers' businesses.  The findings could be of assistance to independent financial advisers in analysing both their current business position and their planning for future requirements as the business develops from one stage to the next.

  11. The Researches on Cycle-Changeable Generation Settlement Method

    Science.gov (United States)

    XU, Jun; LONG, Suyan; LV, Jianhu

    2018-03-01

    Through the analysis of the business characteristics and problems of price adjustment, a cycle-changeable generation settlement method is proposed to support any time cycle settlement, and put forward a complete set of solutions, including the creation of settlement tasks, time power dismantle, generating fixed cycle of electricity, net energy split. At the same time, the overall design flow of cycle-changeable settlement is given. This method supports multiple price adjustments during the month, and also is an effective solution to the cost reduction of month-after price adjustment.

  12. e-Business Innovation: The Next Decade

    Science.gov (United States)

    Marca, David A.

    Innovation is invention or application of technologies or theories that radically alters business and the economy. For many years, innovation and the economy have been locked in 80-year cycles, which might imply that innovation is an economic driver, and vice versa. Based on this, some forecast that innovation and the economy might decrease sharply due to several forces: a) decreasing economic growth, b) increasing demand for custom services, c) more entrepreneurial work environments, and d) urban and environmental degradation. Should such forecasts hold true, business may need to alter its offerings, operations and organization to survive. Such a scenario may also require applied e-Business innovation by combining existing internet, wireless, broadband, and video technologies. One possible result: flexible front offices integrated with efficient back offices. Such an e-Business could comprise: a) a customer-based and transaction-based organization, b) functions for adaptive offerings that anticipate need, c) highly responsive, real-time, operations having no inventory, and d) value-based front-end, and automated back-end, decision making.

  13. An Application of Business Process Management to Health Care Facilities.

    Science.gov (United States)

    Hassan, Mohsen M D

    The purpose of this article is to help health care facility managers and personnel identify significant elements of their facilities to address, and steps and actions to follow, when applying business process management to them. The ABPMP (Association of Business Process Management Professionals) life-cycle model of business process management is adopted, and steps from Lean, business process reengineering, and Six Sigma, and actions from operations management are presented to implement it. Managers of health care facilities can find in business process management a more comprehensive approach to improving their facilities than Lean, Six Sigma, business process reengineering, and ad hoc approaches that does not conflict with them because many of their elements can be included under its umbrella. Furthermore, the suggested application of business process management can guide and relieve them from selecting among these approaches, as well as provide them with specific steps and actions that they can follow. This article fills a gap in the literature by presenting a much needed comprehensive application of business process management to health care facilities that has specific steps and actions for implementation.

  14. Safety aspects of front-end fuel cycle facilities

    International Nuclear Information System (INIS)

    Srinivasan, G.R.

    2003-01-01

    Safety of fuel cycle facilities (FCFs) other than Nuclear Power Plants is gaining importance all over the nuclear world as one would not like to leave behind any area of nuclear field in the journey toward excellence in the safe conduct of business in the whole of the nuclear industry. Safety should be part of every day activities, procedures, business practices, system and in fact of the people themselves

  15. The continuous market cycle of the shortterm insurance industry

    Directory of Open Access Journals (Sweden)

    L Essel

    2012-03-01

    Full Text Available The short-term insurance industry is a cyclical type of business due to the impact of the continuous market cycle. This cycle has a growth phase, soft market phase, hard market phase and a break-even phase. The objective of the research paper focuses on the improvement of financial decision-making when executives of the short-term insurance industry are managing their business during the various phases of the continuous market cycle. Both a literature study and an empirical survey were necessary to achieve the research objective. The empirical survey included the contributions of the top nine commercial and corporate short-term insurers in South Africa. They represented more than 77% of the total gross written premiums in 2009 and can thus be considered as the leaders of the short-term insurance industry in this country. The conclusions of the study should be valuable to other developing countries with emerging market economies as South Africa is also classified as such. The study focused on the various factors which may cause the continuous market cycle, the problem areas which the executives experience concerning the continuous market cycle, and how often various factors are adjusted by the short-term insurers to account for changes in the continuous market cycle

  16. Designing an ICT tool platform to support SME business model innovation: Results of a first design cycle

    NARCIS (Netherlands)

    de Reuver, G.A.; Athanasopoulou, A.; Haaker, T.I.; Roelfsema, M.; Riedle, M; Breitfuss, G.

    2016-01-01

    Business model innovation (BMI) is becoming increasingly relevant for enterprises as they are faced with profound changes like digitalization. While business model thinking in academia has advanced, practical tooling that supports business model innovation for small and medium sized enterprises

  17. The Effects of Oil Price Shocks on Turkish Business Cycle: A Markov Switching Approach

    Directory of Open Access Journals (Sweden)

    Vasif Abiyev

    2015-10-01

    Full Text Available Purpose - The purpose of this study is to investigate the relationship between oil price changes and the output growth in Turkey. Design/methodology/approach - The data were taken from International Financial Statistics databases, consisting of monthly data for the period 1986:01-2014:09. Different univariate Markov - switching regime autoregressive models are specified and estimated. Among them we selected univariate MSIH(3 - AR(2 model for output and extended it to verify if the inclusion of various asymmetric oil price shocks as an exogenous variable improves the ability of the Markov switching model. Four different oil price shocks are considered. Findings - We find that among various oil price shocks, only net oil price increases have negative effects on output growth and mitigate the magnitude of some recessionary periods in Turkey. However, it doesn’t strongly explain the behavior of business cycle in Turkey. Research limitations/implications - Our results suggest that the inclusion of other fundamental financial factors in the bivariate Markov switching model of aggregate economic activity and oil price changes becomes important to explicitly detect the negative impact of oil price shocks on output in Turkey. Originality/value - Our results support the existence of a negative relationship between oil price increases and output growth mentioned in the literature and empirical studies on Turkey.

  18. A model for Business Intelligence Systems’ Development

    Directory of Open Access Journals (Sweden)

    Manole VELICANU

    2009-01-01

    Full Text Available Often, Business Intelligence Systems (BIS require historical data or data collected from var-ious sources. The solution is found in data warehouses, which are the main technology used to extract, transform, load and store data in the organizational Business Intelligence projects. The development cycle of a data warehouse involves lots of resources, time, high costs and above all, it is built only for some specific tasks. In this paper, we’ll present some of the aspects of the BI systems’ development such as: architecture, lifecycle, modeling techniques and finally, some evaluation criteria for the system’s performance.

  19. Diversification of the rare-earth business in the existing enterprises

    Science.gov (United States)

    Bogdanov, S. V.; Grishaev, S. I.; Yazev, V. A.

    2013-12-01

    The development of the modern rare-earth business is analyzed, and the possibilities of using a mathematical description of the prospects of this business on the basis of nonlinear evolution equations are estimated. The well-known methods of describing the life cycle of the economic activity of a commercial company in the closed multisector model of market economics is used to determine the boundaries of changing the average labor productivity during the diversification of business on operating Russian enterprises that produce a wide range of products and are intended to manufacture new types of high-technology rare-earth metal products.

  20. Recent progress in econophysics: Chaos, leverage, and business cycles as revealed by agent-based modeling and human experiments

    Science.gov (United States)

    Xin, Chen; Huang, Ji-Ping

    2017-12-01

    Agent-based modeling and controlled human experiments serve as two fundamental research methods in the field of econophysics. Agent-based modeling has been in development for over 20 years, but how to design virtual agents with high levels of human-like "intelligence" remains a challenge. On the other hand, experimental econophysics is an emerging field; however, there is a lack of experience and paradigms related to the field. Here, we review some of the most recent research results obtained through the use of these two methods concerning financial problems such as chaos, leverage, and business cycles. We also review the principles behind assessments of agents' intelligence levels, and some relevant designs for human experiments. The main theme of this review is to show that by combining theory, agent-based modeling, and controlled human experiments, one can garner more reliable and credible results on account of a better verification of theory; accordingly, this way, a wider range of economic and financial problems and phenomena can be studied.

  1. Recent progress in econophysics: Chaos, leverage,and business cycles as revealed by agent-based modeling and human experiments

    Institute of Scientific and Technical Information of China (English)

    Chen Xin; Ji-Ping Huang

    2017-01-01

    Agent-based modeling and controlled human experiments serve as two fundamental research methods in the field of econophysics.Agent-based modeling has been in development for over 20 years,but how to design virtual agents with high levels of human-like "intelligence" remains a challenge.On the other hand,experimental econophysics is an emerging field;however,there is a lack of experience and paradigms related to the field.Here,we review some of the most recent research results obtained through the use of these two methods concerning financial problems such as chaos,leverage,and business cycles.We also review the principles behind assessments of agents' intelligence levels,and some relevant designs for human experiments.The main theme of this review is to show that by combining theory,agent-based modeling,and controlled human experiments,one can garner more reliable and credible results on account of a better verification of theory;accordingly,this way,a wider range of economic and financial problems and phenomena can be studied.

  2. Indeterminacy and Business Fluctuations under Partial Capital Mobility

    Directory of Open Access Journals (Sweden)

    Jongkyou Jeon

    2008-12-01

    Full Text Available The paper examines a modified real business cycle model of a small open economy such as the Korean economy. The model economy is assumed to produce output with two types of capital: traded capital and non¡ⓒtraded capital. Domestic individuals can borrow from the world capital market only by using traded capital as collateral, and investment in non¡ⓒtraded capital must be financed by domestic savings. It implies that the capital mobility is partial rather than perfect although domestic residents have free access to the world capital market. By incorporating externalities into the production technology, the model economy is able to generate dynamic path of equilibrium time series solely driven by non¡ⓒfundamental shocks such as animal spirits of investors or self¡ⓒfulfilling expectations if the ratio of traded capital to total capital is sufficiently high. The paper shows that the second moment properties of the Korean aggregate data could be reproduced in a modified real business cycle framework where fluctuations are driven only by non¡ⓒfundamental shocks, not by the disturbances to economic fundamentals such as technology. This requires a high value of traded capital relative to total capital, which means that the domestic capital market must be highly integrated with the world capital market. It implies that there exists some critical level of capital mobility beyond which the business cycles of an open economy becomes highly vulnerable to non¡ⓒfundamental shocks such as self¡ⓒfulfilling expectations.

  3. Developing Business School Strategies: A Practitioner-Oriented Conceptualization

    Directory of Open Access Journals (Sweden)

    Daniel Seelhofer

    2016-03-01

    Full Text Available This conceptual paper examines the rationale for strategic planning in business schools and outlines an applied strategy development and controlling process that has been in use at a major Swiss business school for several years, contributing to a significant strengthening of the school's strategic position. It explains the strategy hierarchy and the strategy planning cycle, describes how to conduct a consistent strategic situation analysis, and details how to develop and manage a coherent strategy at all levels (normative, strategic, tactical, and operational, including type, nature, and structure of the corresponding documents.

  4. Supporting the full BPM life-cycle using process mining and intelligent redesign

    NARCIS (Netherlands)

    Netjes, M.; Reijers, H.A.; Aalst, van der W.M.P.; Siau, K.

    2007-01-01

    Abstract. Business Process Management (BPM) systems provide a broad range of facilities to enact and manage operational business processes. Ideally, these systems should provide support for the complete BPM life-cycle: (re)design, configuration, execution, control, and diagnosis by the FileNet P8

  5. Some thorium fuel cycle strategies

    International Nuclear Information System (INIS)

    Duret, M.F.; Hatton, H.

    1979-02-01

    The report deals with the problem of introducing an advanced nuclear fuel cycle based on thorium in Canada. It is pointed out that timing and introduction rate are important considerations, certain choices of these variables leading to undesirable business fluctuations in some of the industries involved in the production of nuclear energy. (author)

  6. Asset life cycle plans: twelve steps to assist strategic decision-making in asset life cycle management

    NARCIS (Netherlands)

    Ruitenburg, Richard Jacob; Braaksma, Anne Johannes Jan; van Dongen, Leonardus Adriana Maria; Carnero, Maria Carmen; Gonzalez-Prida, Vicente

    2017-01-01

    Effective management of physical assets should deliver maximum business value. Therefore, Asset Management standards such as PAS 55 and ISO 55000 ask for a life cycle approach. However, most existing methods focus only on the short term of the asset's life or the estimation of its remaining life.

  7. Organizational Life Cycle and the Growth of Information Technology Stage Theory

    Directory of Open Access Journals (Sweden)

    Jamshid Nazemi

    2012-10-01

    Full Text Available : Organizations have the different patterns of behaviors on management practice and the use of systems during their life cycle and due to rapid growth of information technology, the application of appropriate technologies is becoming an essential part of business, as well. The adaptation of appropriate management systems on different stages of organizational life period will affect on sustainability of the firms and success to move to next stage and alignment and collaboration schema of IS/IT and business requirement affects on management effectiveness at every stage. This research investigated the significance of relationship between management behavior and IS/IT usage and the generic approach selected by companies. The results showed that organizations have chosen different approach during their life cycle and as they faced with unique challenges on each stage, a common practice on using information technology and applications became part of organizational life cycle. A generic model for information technology usage on organization life cycle was also developed that will assist organizations to select and develop IS/IT plans which addresses the requirements for each stage of life cycle.

  8. Towards life-cycle awareness in decision support tools for engineering design

    OpenAIRE

    Nergård, Henrik; Sandberg, Marcus; Larsson, Tobias

    2009-01-01

    In this paper a decision support tool with the focus on how to generate and visualize decision base coupled to the business agreement is outlined and discussed. Decision support tools for the early design phases are few and especially tools that visualize the readiness level of activities throughout the product life-cycle. Aiming for the sustainable society there is an indication that business-to-business manufacturers move toward providing a function rather than selling off the hardware and ...

  9. Life cycle assessment of hybrid vehicles recycling: Comparison of three business lines of dismantling.

    Science.gov (United States)

    Belboom, Sandra; Lewis, Grégory; Bareel, Pierre-François; Léonard, Angélique

    2016-04-01

    This paper undertakes an environmental evaluation of hybrid vehicles recycling, using industrial data from Comet Traitement SA in Belgium. Three business lines have been modelled and analysed. The first one is relative to the business as usual with a dismantling to recover batteries and engines followed by shredding and post shredding treatments. The second one considers, in addition, the removal of electronic control units (ECU) before shredding followed by same steps than in the first line and the last one is relative to the additional removal of big plastic parts before shredding and business as usual post shredding treatments. Results show non-significant environmental benefits when ECU or large parts of plastics are recovered before shredding. Improvements in terms of environmental benefits are lower than the uncertainty of the results. Indeed, the performing usual process for end-of-life vehicles (ELV) treatment reaches 97% of the ELV which is valorised in terms of metal and energy recoveries. Post shredding treatment units include metals, plastics and energy recovery of residues. Comet business as usual route for ELV valorisation is in accordance with the requirements of the European directive and recommendations for further improvement with dismantling of other parts (ECU or plastics) before shredding are non-relevant in this case. Copyright © 2016 Elsevier Ltd. All rights reserved.

  10. The business fluctuations and the lobbying evolution in European Union, Canada and USA

    Directory of Open Access Journals (Sweden)

    Oanta Ilie Stefan

    2015-03-01

    Full Text Available Business fluctuations are associated with business cycles but are not implying the regularity. We consider that the lobbying activities can influence the periods of economic recession and expansion from business fluctuations. The role of lobbying is to affect the decisions made by officials in the government or international corporations and agencies or organizations. In this paper we describe the structure of lobbying practice in European Union, Canada and United States of America and the characteristics of business fluctuations. Specifically, this paper looks at the lobbying activities evolution in European Union, Canada and United States of America and also at a potential relationship between lobbying and business fluctuations, from periods of boom to periods of recession.

  11. STRUCTURAL-FUNCTIONAL MODEL OF PROFESSIONAL BUSINESS COMMUNICATION DEVELOPMENT OF FUTURE ECONOMIC SPECIALISTS

    Directory of Open Access Journals (Sweden)

    Zotova-Sadylo Yelena Yurievna

    2013-05-01

    Full Text Available Purpose The structural-functional model of professional business communication development of future economic specialists is presented by the author. Its basic components, purpose, function, principles, methods of its practical realization are characterized in the article. Methodology The considered model is aimed at providing advanced and competent levels of professional business communication / cross-cultural business communication of future specialists in economics by means of relevant to the problem special course within a system of humanitarian cycle disciplines, and integrated class hours and extracurricular activity. The main feature of the special course is its integrated character determined by the necessity to synthesize contents of humanitarian cycle disciplines for the purpose of training material comprehensive awareness. Results In this context focused professional extracurricular activity carried out in strict accordance with an overall objective of young specialist training is effective. Successful implementation of structural functional model is possible providing that integrated approach to creative specialists training by means of entire educational and extracurricular activity system.

  12. Analysing the external supply chain risk driver competitiveness: a risk mitigation framework and business continuity plan.

    Science.gov (United States)

    Blos, Mauricio F; Wee, Hui-Ming; Yang, Joshua

    2010-11-01

    Innovation challenges for handling supply chain risks have become one of the most important drivers in business competitiveness and differentiation. This study analyses competitiveness at the external supply chain level as a driver of risks and provides a framework for mitigating these risks. The mitigation framework, also called the supply chain continuity framework, provides insight into six stages of the business continuity planning (BCP) process life cycle (risk mitigation management, business impact analysis, supply continuity strategy development, supply continuity plan development, supply continuity plan testing and supply continuity plan maintenance), together with the operational constructs: customer service, inventory management, flexibility, time to market, ordering cycle time and quality. The purpose of the BCP process life cycle and operational constructs working together is to emphasise the way in which a supply chain can deal with disruption risks and, consequently, bring competitive advantage. Future research will consider the new risk scenarios and analyse the consequences to promote the improvement of supply chain resilience.

  13. Is the French fuel cycle management an asset for international business?

    International Nuclear Information System (INIS)

    Beutier, D.; Debes, M.

    2016-01-01

    In order to comfort its energy independence and diminish the amount of radioactive waste, France has chosen to close its fuel cycle since long. Thanks to the size of the fleet of reactors operating in France, reprocessing techniques have been validated on an industrial scale and France is now the only country to master these technologies. The French strategy of closing the fuel cycle allows, first, the vitrification of high-level radioactive wastes and their storing in passive installations before their definitive disposal and secondly, it allows the recycling of fissile materials. Several other countries like Japan, United-Kingdom, the Netherlands and China soon have also chosen to close their fuel cycle. Plutonium recycling is made through the fabrication of MOX (mixed uranium and plutonium oxides) fuel in the MELOX plant with an output of 120 tons a year. A second recycling of spent MOX fuel in PWR is unlikely because of the poor isotopic quality of the plutonium, the recycling will be possible and economically competitive in fast reactors when these 4. generation reactors take over. The important, complete and unique experience of AREVA in terms of fuel cycle from fuel fabrication to waste vitrification via plutonium recycling is a relevant asset in the competitive international nuclear energy market. (A.C.)

  14. Life cycle management and assessment: approaches and visions towards sustainable manufacturing

    DEFF Research Database (Denmark)

    Westkämper, Engelbert; Alting, Leo; Arndt, Günther

    2000-01-01

    . The goal of this approach is to protect resources and maximize effectiveness by means of life cycle assessment, product data management, technical support and, last but not least, life cycle costing. This paper shows the existing approaches of LCM and discusses their prospects and further development....... concepts are required, new regulations have been passed or consumer values are changing, the differences between business areas are disappearing. Life cycle management (LCM) considers the product life cycle as a whole and optimizes the interaction of product design, manufacturing and life cycle activities...

  15. Comparing technological hype cycles: Towards a theory

    NARCIS (Netherlands)

    Lente, H. van; Spitters, C.; Peine, A.

    2013-01-01

    The notion of ‘hype’ iswidely used and represents a temptingway to characterize developments in technological fields. The term appears in business as well as in academic domains. Consultancy firms offer technological hype cycle models to determine the state of development of technological fields

  16. Revisiting valuation practices throughout the business cycle: some symmetry is needed.

    OpenAIRE

    Caruana, J.; Pazarbasioglu, C.

    2008-01-01

    The current crisis exposed weaknesses in the application of accounting standards and gaps associated with the valuation of financial products. During the upturn, the revaluation of assets, build-up of off-balance sheet claims, and booking of unrealised gains obscured risk exposures taken by financial institutions. But as we have learned, when the cycles turn, the downward trends and uncertainties in the value of assets may lead to negative dynamics that may exaggerate the trough of the cycle....

  17. BUSINESS ECOSYSTEMS VS BUSINESS DIGITAL ECOSYSTEMS

    Directory of Open Access Journals (Sweden)

    Marinela Lazarica

    2006-05-01

    Full Text Available E-business is often described as the small organisations’ gateway to global business and markets. The adoption of Internet-based technologies for e-business is a continuous process, with sequential steps of evolution. The latter step in the adoption of Internet-based technologies for business, where the business services and the software components are supported by a pervasive software environment, which shows an evolutionary and self-organising behaviour are named digital business ecosystems. The digital business ecosystems are characterized by intelligent software components and services, knowledge transfer, interactive training frameworks and integration of business processes and e-government models.

  18. Independent assessment of forseeable problems in the nuclear fuel cycle

    International Nuclear Information System (INIS)

    1975-01-01

    Information is presented concerning the U. S. nuclear fuel cycle business including investment requirements; nuclear power growth projection; reliability of uranium supply; enrichment facilities; plutonium recycle; safeguards; and insurance

  19. BUSINESS ETHICS STANDARDS AND HOTEL BUSINESS

    OpenAIRE

    Ivica Batinić

    2014-01-01

    By implementing certain standards in business, especially the standards of business ethics, each entity in the hotel industry emphasize its specificity and recognition, while giving a guestconsumer security and a guarantee that they will get desired quality. In today's global world, business ethics has become an indispensable part of the hotel business practices and prerequisite for achieving business success. Business ethics receives strategic significance because ...

  20. BUSINESS ETHICS STANDARDS AND HOTEL BUSINESS

    Directory of Open Access Journals (Sweden)

    Ivica Batinić

    2014-04-01

    Full Text Available By implementing certain standards in business, especially the standards of business ethics, each entity in the hotel industry emphasize its specificity and recognition, while giving a guestconsumer security and a guarantee that they will get desired quality. In today's global world, business ethics has become an indispensable part of the hotel business practices and prerequisite for achieving business success. Business ethics receives strategic significance because it creates a system of governance based on ethical principles that enables the hotel to properly respond to the demands of all interest groups. Successful will be precisely those hotels that do not separate ethics from profitability, but those that successfully coordinate them in its business. Business ethics has a strong impact on hotel business, and a major role in its implementation has a hotel management. Every responsible hotel management should, in accordance with the business philosophy of hotel, devise various ethical practices and ethical codes of conduct prescribed by the employees who will be an important standard of a business object.

  1. The planning cycle.

    Science.gov (United States)

    Johnson, William

    2005-01-01

    Information technology planning can be described as a continuous cyclical process composed of three phases whose primary purpose is optimum allocation of scarce resources. In the assessment phase, planners assess user needs, environmental factors, business objectives, and IT infrastructure needs to develop IT projects that address needs in each of these areas. A major goal of this phase is to develop a broad IT inventory. The prioritization phase seeks to ensure optimum allocation of scarce resources by prioritizing ITprojects based on: Costs--total life cycle costs. Benefits--both quantitative and non-quantitative, including support for the organization's strategic business objectives. Risks--subjective assessments of technological and non-technological risks. Implementation requirements--time and personnel requirements to implement the system. The scheduling phase incorporates sequencing considerations, personnel availability, and budgetary constraints to produce an IT plan in which project priorities are adjusted to meet organizational realities.

  2. Sustainable Development Factors in Pavement Life-Cycle: Highway/Airport Review

    Directory of Open Access Journals (Sweden)

    Peyman Babashamsi

    2016-03-01

    Full Text Available Sustainability has gained as much importance as management in business. Sustainable pavement development as a business practice should involve making evaluations according to the triple bottom line in the pavement life-cycle. Despite the current approaches to evaluating the social as well as economic and environmental feasibility of pavement projects (involving highway and airport infrastructure, there has recently been a lack of consensus on a methodology to guarantee sustainability upon assessment and analysis during the pavement life-cycle. As sustainability is a complex issue, this study intends to further explore sustainability and elaborate on its meaning. The second step involves a general depiction of the major sustainability appraisal tools, namely cost-benefit analysis, life-cycle cost analysis, life-cycle assessment, multi-criteria decision-making, environmental impact assessment and social life-cycle assessment, and an explanation of their cons and pros. Subsequently, the article addresses the application of an organized methodology to highlight the main factors or concepts that should be applied in sustainable pavement development and, more specifically, in sustainable pavement management. In the final step, research recommendations toward sustainability are given. This study is aimed to assist decision-makers in pavement management to plan sustainability frameworks in accordance with probable boundaries and restrictions.

  3. Developing Students' Understanding of Industrially Relevant Economic and Life Cycle Assessments

    Science.gov (United States)

    Bode, Claudia J.; Chapman, Clint; Pennybaker, Atherly; Subramaniam, Bala

    2017-01-01

    Training future leaders to understand life cycle assessment data is critical for effective research, business, and sociopolitical decision-making. However, the technical nature of these life cycle reports often makes them challenging for students and other nonexperts to comprehend. Therefore, we outline here the key takeaways from recent economic…

  4. A methodological approach to development of circular economy options in businesses

    DEFF Research Database (Denmark)

    Jørgensen, Michael Søgaard; Remmen, Arne

    2018-01-01

    Three types of re-design processes are described in the development of circular economy options in businesses: 1) Re-design of the provided services considering changes in the roles of products, users, service, infrastructure, etc.; 2) Re-design of the value chain relations up-stream to suppliers...... of the business based on an environmental mapping in life cycle perspective and an organizational analysis mapping of value chain relations, competitive position, innovation practices, user practices and relations to regulation and civil society. The article shows that circular economy can be relevant...... and down-stream to customers and users; 3) Redesign of internal business organization considering necessary changes in tasks, competences, structures and technologies. These redesign processes have been developed as methodology within a research project based on cooperation with businesses in Denmark about...

  5. Sosiaalinen media business to business markkinoinnissa

    OpenAIRE

    Tsinovski, Kosti

    2010-01-01

    Opinnäytetyö käsittelee sosiaalisen median käyttöä business to business -markkinoinnissa. Sosiaalista mediaa tarkastellaan kirjallisuuden, verkkolähteiden ja kirjoittajan omien kokemuksien ja näkemyksien pohjalta. Sosiaalisen median soveltuvuutta business to business -markkinointiin käsitellään edellä mainittujen lähteiden lisäksi yrityshaastattelujen pohjalta. Tavoitteena on pohtia sosiaalinen median soveltuvuutta business to business -markkinointiin. Lisäksi tavoitteena on perustella sosiaa...

  6. The insurance business and the nuclear fuel cycle

    International Nuclear Information System (INIS)

    Multhaup, H.T.

    1989-01-01

    The legally required financial security is provided by the insurance business by way of liability insurance systems. Insurance coverage is given for the obligation to pay damages in compliance with section 13 Atomic Energy Act, which refers to all objects of legal protection also defined in section 823, sub-sec. (1) BGB. The legal provisions valid in the F.R.G. are very similar to the provisions in most western countries. They comply with the Paris Convention which determines the legal bases of the international third party liability system which have been supplemented by the Brussels Convention. The reactor accident at Chernobyl has induced discussions and changes in the insurance sector. A major conclusion was that liability criteria must have unambiguous definition and delimitation. A compensation system is feasible only on the basis of clear-cut definitions. A first step in this direction has been done by issuing maximum permissible limits for foodstuffs. Another major instrument for coping with a nuclear accident is the distribution scheme defined in section 35 Atomic Energy Act. (orig./HSCH) [de

  7. LIFE CYCLE ASSESSMENT (LCA AS A TOOL FOR BUSINESS STRATEGY

    Directory of Open Access Journals (Sweden)

    Rodrigo Salvador

    2014-09-01

    Full Text Available The growing concern about the development of sustainable production systems leads organizations to seek the support of management tools for decision-making. Considering the whole life cycle of the product, the Life Cycle Assessment (LCA has an important role in this scenario. The objective of this paper is to present, through the theoretical discussion, the role of LCA in strategic planning of the organization. It showed the enormous potential for decision making on the environmental aspect, but also the critical factor in the development shares in the competitive context. The use of LCA can reduce the environmental impacts of the system under study (primary purpose and guide the range of advantages in the fields of marketing, legislation and environmental labeling, competitive strategies, efficiency use of resources and others.

  8. Business-to-business electronic commerce

    OpenAIRE

    John Wenninger

    1999-01-01

    To improve efficiency, some large retailers, suppliers, and distributors have begun to conduct business-to-business commerce electronically. This practice could grow rapidly if the Internet becomes the primary low-cost network for such transactions. Before the Internet can fully support business-to-business commerce, however, companies must overcome several technological and security obstacles.

  9. BUSINESS-TO-BUSINESS CORRUPTION

    Directory of Open Access Journals (Sweden)

    Natasha Georgieva Hadzi Krsteski

    2016-04-01

    Full Text Available The business corruption is established and active in the circle of the businesses partners that express a gratitude, return a service or bribes (apart from ordinary price for a business transfer to be provided. Those prohibited transfers differs from the usual business transfers, such as activities related to marketing and public relations where they have a specific goal to use illegal means in order to infringe the recipients` identity of prohibited value in an interchange for a inducement. That is a procedure of enticement, which prevents the useful instruments in the permitted bazaar and not solitary that it is harmful for the businesses whose representatives accept bribe, however it is also harmful for the civilisation as an entire. The occurrence of business corruption is intended as a amount of companies that presented cash, a gratitude or a service in return, in adding to every usual deal of any person who is working for a business entity from the private sector in any capacity, including the one through a mediator, happening to at minimum single juncture in the past 12 months previous to this research. The usual commonness of the business-to-corruption in the Republic of Macedonia is 3% compared to 4% at a regional level. While it is fewer than the regular pervasiveness of salaried briberies by enterprises to civic bureaucrats, this discovery designates that bribery in the secluded segment is a difficult in the Republic of Macedonia.

  10. Implementation of a 3D printer into a small business

    OpenAIRE

    Kodejšová, Jana

    2017-01-01

    This thesis deals with the implementation of a 3D printer into a small business. The theoret-ical part deals with technology of 3D printing, types of 3D printers, as well as basic materi-als suitable for 3D printing. The practical part is devoted to the purchasing of a 3D printer for this company that deals with the service and the supply of bicycles and other cycling needs. There is chosen the most suitable 3D printer for this business, and there are also ex-amples of specific parts that thi...

  11. ACADEMIC MOTIVATION FOR BUSINESS INFORMATION SYSTEMS STUDENTS

    OpenAIRE

    Catalin Maican; Radu Lixandroiu

    2015-01-01

    Academic Motivation Scale (AMS) was applied to Business Information Systems students for finding out their reasons and motives for enrolling this academic field, for undergraduate and postgraduate academic cycles. The students were presented the AMS scale translated in Romanian, together with other questionnaires. The first part of the paper makes a short introduction to AMS, the second describes its objectives, while the third presents the results.

  12. East Asian Financial Cycles: Asian vs. Global Financial Crises

    OpenAIRE

    Akira Kohsaka; Jun-ichi Shinkai

    2014-01-01

    We examine the role of financial shocks in business cycles in general and in financial crises in particular in East Asia (Indonesia, Korea, Malaysia and Thailand) since the 1990s. Estimating a Financial Conditions Index, we found that financial shocks explain most of business downturns in all the economies in the Asian Financial Crisis (AFC) in 1997-98, but that the effects of financial shocks are diverse across economies in the Global Financial Crisis (GFC) in 2008-09. In the GFC, the financ...

  13. Forecasting dynamically asymmetric fluctuations of the U.S. business cycle

    DEFF Research Database (Denmark)

    Chini, Emilio Zanetti

    The Generalized Smooth Transition Auto-Regression (GSTAR) parametrizes the joint asymmetry in the duration and length of cycles in macroeconomic time series by using particular generalizations of the logistic function. The symmetric smooth transition and linear auto-regressions are peculiar cases...

  14. Washington Meets Wall Street: A Closer Examination of the Presidential Cycle Puzzle

    NARCIS (Netherlands)

    Kraeussl, R.G.W.; Lucas, A.; Rijsbergen, D.R.; van der Sluis, P.J.; Vrugt, E.B.

    2014-01-01

    We show that the annual excess return of the S&P 500 is almost 10 percent higher during the last two years of the presidential cycle than during the first two years. This pattern cannot be explained by business-cycle variables capturing time-varying risk premia, differences in risk levels, or by

  15. A business case method for business models

    OpenAIRE

    Meertens, Lucas Onno; Starreveld, E.; Iacob, Maria Eugenia; Nieuwenhuis, Lambertus Johannes Maria; Shishkov, Boris

    2013-01-01

    Intuitively, business cases and business models are closely connected. However, a thorough literature review revealed no research on the combination of them. Besides that, little is written on the evaluation of business models at all. This makes it difficult to compare different business model alternatives and choose the best one. In this article, we develop a business case method to objectively compare business models. It is an eight-step method, starting with business drivers and ending wit...

  16. Life Cycle Assessment of fresh dairy packaging at ELOPAK

    OpenAIRE

    Ruttenborg, Vegard

    2017-01-01

    Nearly all food and drink products require some packaging, and the impact from production and consumption is causing a strain on the environment. To counteract the bad effects, business is emphasizing the environmental performance of products and therefore utilising Life Cycle Assessment as a tool to quantify the environmental impacts from a products life cycle. Elopak, which is an International supplier of paper-based packaging for liquid food, is a such company. This thesis i...

  17. A Technology Plan for Enabling Commercial Space Business

    Science.gov (United States)

    Lyles, Garry M.

    1997-01-01

    The National Aeronautics and Space Administration's (NASA) Advanced Space Transportation Program is a customer driven, focused technology program that supports the NASA Strategic Plan and considers future commercial space business projections. The initial cycle of the Advanced Space Transportation Program implementation planning was conducted from December 1995 through February 1996 and represented increased NASA emphasis on broad base technology development with the goal of dramatic reductions in the cost of space transportation. The second planning cycle, conducted in January and February 1997, updated the program implementation plan based on changes in the external environment, increased maturity of advanced concept studies, and current technology assessments. The program has taken a business-like approach to technology development with a balanced portfolio of near, medium, and long-term strategic targets. Strategic targets are influenced by Earth science, space science, and exploration objectives as well as commercial space markets. Commercial space markets include those that would be enhanced by lower cost transportation as well as potential markets resulting in major increases in space business induced by reductions in transportation cost. The program plan addresses earth-to-orbit space launch, earth orbit operations and deep space systems. It also addresses all critical transportation system elements; including structures, thermal protection systems, propulsion, avionics, and operations. As these technologies are matured, integrated technology flight experiments such as the X-33 and X-34 flight demonstrator programs support near-term (one to five years) development or operational decisions. The Advanced Space Transportation Program and the flight demonstrator programs combine business planning, ground-based technology demonstrations and flight demonstrations that will permit industry and NASA to commit to revolutionary new space transportation systems

  18. The service Ouroboros: Designing personas service cycles

    DEFF Research Database (Denmark)

    Gudiksen, Sune Klok; Brandt, Eva

    2014-01-01

    Many companies investigate new business opportunities in a turn from product to service design. As service offerings expand over time and space, such notions as ‘customer journey’ or ‘service blueprint’ have been suggested to grasp and design the nature of the emergent services. However, we find ...... various customers’´service cycles....

  19. Business Intelligence in Process Control

    Science.gov (United States)

    Kopčeková, Alena; Kopček, Michal; Tanuška, Pavol

    2013-12-01

    The Business Intelligence technology, which represents a strong tool not only for decision making support, but also has a big potential in other fields of application, is discussed in this paper. Necessary fundamental definitions are offered and explained to better understand the basic principles and the role of this technology for company management. Article is logically divided into five main parts. In the first part, there is the definition of the technology and the list of main advantages. In the second part, an overview of the system architecture with the brief description of separate building blocks is presented. Also, the hierarchical nature of the system architecture is shown. The technology life cycle consisting of four steps, which are mutually interconnected into a ring, is described in the third part. In the fourth part, analytical methods incorporated in the online analytical processing and data mining used within the business intelligence as well as the related data mining methodologies are summarised. Also, some typical applications of the above-mentioned particular methods are introduced. In the final part, a proposal of the knowledge discovery system for hierarchical process control is outlined. The focus of this paper is to provide a comprehensive view and to familiarize the reader with the Business Intelligence technology and its utilisation.

  20. Business support within business incubators.

    NARCIS (Netherlands)

    Ratinho, Tiago; Harms, Rainer; Groen, Arend J.

    2009-01-01

    Business incubators (BI) have been established worldwide as tools for company creation and small businesses support. BIs claim to help their tenants by providing them with the optimal conditions for increasing early stage survival. Practitioners and researchers agree that business support is a

  1. ACADEMIC MOTIVATION FOR BUSINESS INFORMATION SYSTEMS STUDENTS

    Directory of Open Access Journals (Sweden)

    Catalin Maican

    2015-05-01

    Full Text Available Academic Motivation Scale (AMS was applied to Business Information Systems students for finding out their reasons and motives for enrolling this academic field, for undergraduate and postgraduate academic cycles. The students were presented the AMS scale translated in Romanian, together with other questionnaires. The first part of the paper makes a short introduction to AMS, the second describes its objectives, while the third presents the results.

  2. The hotel enterprise: a business system of project business on the tourism business market

    OpenAIRE

    Berc Radisic, Branka; Basan, Lorena

    2007-01-01

    As a business system, an enterprise represents a complex, dynamic, stochastic, open and organisational system. Certain specific features of a hotel enterprise as a business system of project business result from the activity it performs and from project-based business and development management. As an enterprise based on project business, its distinguishing features include the interconnectedness of business subsystems and the overlapping a hotel enterprise’s business function.

  3. Business model for business rules

    NARCIS (Netherlands)

    Eline Haan; Martin Zoet; Koen Smit

    2014-01-01

    Business rule models are widely applied, standalone and embedded in smart objects. They have become segregated from information technology and they are now a valuable asset in their own right. As more business rule models are becoming assets, business models to monetize these assets are designed.

  4. STRATEGY FOR BUSINESS PORTFOLIO DEVELOPMENT OF PT SEKAR LAUT, TBK.

    Directory of Open Access Journals (Sweden)

    Homisah Homisah

    2016-01-01

    Full Text Available PT Sekar Laut, Tbk. (PTSL, as a local company, has three main business units including snack crackers, cooking spices and private label.  Due to the potentials of Indonesia, it is expected that PTSL can upscale its competitive advantage and has an ability to compete with global companies as well.  The objectives of this research were 1 analyzing relative positioning of PTSL compared with market leaders in snack and cooking spices industries, 2 analyzing Life Cycle phase per business unit, 3 analyzing positioning of each product category in portfolio matrix, 4 formulating strategic recommendations to  the management for each product category of PTSL.  The method used in this study was descriptive analysis. The analysis tools used in this study were BCG matrix, Life Cycle model, IFE, IFI and GE matrix. The results showed that relative positioning of crackers and cooking spices business units in BCG matrix is in Question Marks quadrant.  The results of Life Cycle model for snack crackers, cooking spices, and private label showed that they are in Growth phase.  The result of portfolio analysis by GE matrix showed that shrimp cracker and fish cracker product categories are in Selective Growth quadrant. Vegetables cracker, cooking spices, uleg chili sauce, burger buns are in Investment and Growth quadrant. The strategic recommendation for shrimp and fish crackers is to identify the growth segment, aggressive investment and uphold position.  The strategic recommendations for vegetable cracker, cooking spices, uleg chili sauce, and burger buns are growth, seeking for dominance and maximum investment.Keywords: portfolio analyzing, crackers, cooking spices, uleg chili sauce, burger buns

  5. Defense programs business practices re-engineering QFD exercise

    International Nuclear Information System (INIS)

    Murray, C.; Halbleib, L.

    1996-03-01

    The end of the cold war has resulted in many changes for the Nuclear Weapons Complex (NWC). We now work in a smaller complex, with reduced resources, a smaller stockpile, and no new phase 3 weapons development programs. This new environment demands that we re-evaluate the way we design and produce nuclear weapons. The Defense Program (DP) Business Practices Re-engineering activity was initiated to improve the design and production efficiency of the DP Sector. The activity had six goals: (1) to identify DP business practices that are exercised by the Product Realization Process (PRP); (2) to determine the impact (positive, negative, or none) of these practices on defined, prioritized customer criteria; (3) to identify business practices that are candidates for elimination or re-engineering; (4) to select two or three business practices for re-engineering; (5) to re-engineer the selected business practices; and (6) to exercise the re-engineered practices on three pilot development projects. Business practices include technical and well as administrative procedures that are exercised by the PRP. A QFD exercise was performed to address (1)-(4). The customer that identified, defined, and prioritized the criteria to rate the business practices was the Block Change Advisory Group. Five criteria were identified: cycle time, flexibility, cost, product performance/quality, and best practices. Forty-nine business practices were identified and rated per the criteria. From this analysis, the group made preliminary recommendations as to which practices would be addressed in the re-engineering activity. Sixteen practices will be addressed in the re-engineering activity. These practices will then be piloted on three projects: (1) the Electronic Component Assembly (ECA)/Radar Project, (2) the B61 Mod 11, and (3) Warhead Protection Program (WPP)

  6. Business

    Science.gov (United States)

    Los Alamos National Laboratory Search Site submit About Mission Business Newsroom Publications Los : Environmental Documents, Reports LANL Home Calendar Search Contacts Business LANL 75th logo Business Los Alamos is a premier R&D laboratory seeking to do business with qualified companies offering value and

  7. 75 FR 1296 - Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status...

    Science.gov (United States)

    2010-01-11

    ... SMALL BUSINESS ADMINISTRATION 13 CFR Parts 121 and 124 Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status Determinations AGENCY: U.S. Small Business Administration. ACTION: Notice of public meetings; request for comments. SUMMARY: The U.S. Small Business...

  8. Business cycle and economic-wide energy intensity: The implications for energy conservation policy in Algeria

    International Nuclear Information System (INIS)

    Adom, Philip Kofi

    2015-01-01

    Despite the prevalence of voluntary and involuntary energy conservation policies, developing countries in Africa continue to struggle to achieve energy efficiency targets. Consequently, energy intensity levels have risen threatening the security of the energy system. This raises the important question: is there an economic state that induces agents to be energy conscious? In this study, we study the case of Algeria's energy intensity from 1971 to 2010. First, the paper argues that there is a certain economic state that economic agents find investing in energy conservation a viable option. Any state different from that would mean not investing in energy conservation. Second, the paper argues that the economy can do better even with an infinitesimal reduction in fuel subsidy, and that the gains in revenue from the policy can compensate for the negative socio-economic and equity impacts associated with such a policy. Third, the paper argues that, so long as, industrial expansion in the country move parallel with investment in technological innovation, long-term sustainable growth and energy conservation targets are jointly feasible. Fourth, the paper shows that income elasticity evolves with the business cycle, and the absorptive capability of the host country affects how FDI (foreign direct inflows) impact energy intensity. - Highlights: • Low income states inhibit fuel substitution and investment in energy conservation. • Income elasticity evolves as we pass through boom and recessionary periods. • The goals of sustainable growth and energy conservation are not mutually exclusive. • Absorptive capability affects the impact of FDI on energy intensity

  9. 48 CFR 970.1907 - Subcontracting with Small Business, Small Disadvantaged Business and Woman-Owned Small Business...

    Science.gov (United States)

    2010-10-01

    ... MANAGEMENT AND OPERATING CONTRACTS Small, Small Disadvantaged and Women-Owned Small Business Concerns 970.1907 Subcontracting with Small Business, Small Disadvantaged Business and Woman-Owned Small Business... Business, Small Disadvantaged Business and Woman-Owned Small Business Concerns. 970.1907 Section 970.1907...

  10. Business modelling agility : Turning ideas into business

    NARCIS (Netherlands)

    Heikkila, J.; Heikkila, M.; Bouwman, W.A.G.A.

    2015-01-01

    Business Model Innovation is attracting more and more attention from business as well as from academics. Business Model Innovation deals with both technological and knowledge related changes that either may disrupt or sustain existing product/market strategies. Timing of Business Model Innovation

  11. Management of Business Transformation to Sustainable Business

    OpenAIRE

    Grunda, Rokas

    2011-01-01

    Having examined the concepts of sustainable business and advantages and disadvantages of business sustainability management models, the objective of the dissertation is to formulate a management model of business transformation to sustainable business and to verify it in present business conditions in Lithuania. In the dissertation, the essence of the concepts of sustainable development and sustainability is characterized, the criteria of sustainable society are distinguished and the concept ...

  12. A business case method for business models

    NARCIS (Netherlands)

    Meertens, Lucas Onno; Starreveld, E.; Iacob, Maria Eugenia; Nieuwenhuis, Lambertus Johannes Maria; Shishkov, Boris

    2013-01-01

    Intuitively, business cases and business models are closely connected. However, a thorough literature review revealed no research on the combination of them. Besides that, little is written on the evaluation of business models at all. This makes it difficult to compare different business model

  13. Business-to-Business -markkinointistrategia sosiaalisessa mediassa

    OpenAIRE

    Kähärä, Karri

    2011-01-01

    Tämä opinnäytetyö keskittyy markkinointistrategian kehittämiseen business-to-business -yritykselle sosiaalisissa medioissa tapahtuvaa markkinointia varten. Opinnäytetyössä tarkastellaan sosiaalisia medioita ja markkinointistrategian luomista eri kirjallisuus- ja verkkolähteiden avulla. Opinnäytetyön tavoitteena on selvittää sosiaalisten medioiden mahdollisuuksia business-to-business -markkinointia harjoittavalle yritykselle ja kehittää konkreettinen markkinointi-suunnitelma sosiaalisissa medi...

  14. The Cut-off Test in the Application of Business Cycle Audit%截止测试在业务循环审计中的应用

    Institute of Scientific and Technical Information of China (English)

    张彤

    2012-01-01

    Accounting staging is the premise of accounting.Accounting periodicity limits the scope of the accounting practice time,for the accrual accounting principle,the matching principle,thus laid a foundation.The theory is based on the evolution of the accounting period,close to check out the business,often hidden misstatement risk,registered accountants often necessary financial statements in the audit schedule deadline test.Judge the same business of lending caused whether both sides in the same accounting period is widely applied in many an accounting statements in the audit items,especially in sales and receipt cycle and production cycle project audit of more typical.%会计分期是会计核算的前提之一。会计分期限定了会计核算的时间范围,为权责发生制、配比原则等会计原则奠定了理论基础。截止的理论来源于会计期间的演进,接近结账日的业务往往隐藏着错报的风险,注册会计师通常有必要在审计财务报表时安排截止日测试。判断同一业务引起的借贷双方是否在同一会计期间入账被广泛应用于许多会计报表项目的审计中,尤其以在销售与收款循环和生产循环等项目的审计中更为典型。

  15. APPLICATION OF BUSINESS CONTINUITY MANAGEMENT SYSTEM INTO THE CRISIS MANAGEMENT FIELD

    Directory of Open Access Journals (Sweden)

    Hana MALACHOVÁ

    2016-12-01

    Full Text Available Establishing business continuity management (BCM creates the basis of every organization’s strategy. BCM includes complex procedures that help solving unexpected situations of natural and anthropogenic nature (e.g. fire or flood. Planning of the BCM is a process that helps organizations identify critical processes and implement plans for securing and restoring key processes. The aim of this paper is to demonstrate the application of a systemic approach to BCM known as Business Continuity Management System (BCMS into the military field. This article describes the life cycle of the BCMS, which is based on PDCA cycle. Subsequently it is applied to the activities carried out by the University of Defence during activation of forces and means in the frame of the Integrated Rescue System (IRS in case of emergency – an accident in a nuclear power plant in the Czech Republic. Activities in various stages of deployment of allocated forces and means are managed and evaluated using the Military Continuity Management System (MCMS application.

  16. Business Networks and Cooperation in International Business Relationships

    OpenAIRE

    Desirée Blankenburg Holm; Kent Eriksson; Jan Johanson

    1996-01-01

    Cooperative relationships between firms can be better understood if they are examined in the context of a network of connected business relationships. Based on research on business relationships and business networks, this paper formulates a LISREL model that analyses cooperation in international business relationships between suppliers and customer firms. Theory suggests that cooperation can raise the value of business relationships, and that business network connections have an impact on co...

  17. Separating yolk from white: A filter based on economic properties of trend and cycle

    OpenAIRE

    Zhou, Peng

    2017-01-01

    This paper proposes a new filter technique to separate trend and cycle based on stylised economic properties of trend and cycle, rather than relying on ad hoc statistical proper-ties such as frequency. Given the theoretical separation between economic growth and business cycle literature, it is necessary to make the measures of trend and cycle match what the respective theories intend to explain. The proposed filter is applied to the long macroeconomic data collected by the Bank of England (1...

  18. Investors' perspective and needs in the process of developing a business plan

    Directory of Open Access Journals (Sweden)

    Stankov Biljana

    2015-01-01

    Full Text Available A business plan is a very important written document about the current state and future intentions of the company and it meets the information and other needs of a wide range of users, regardless of the size of the company and its organizational structure, or belonging to particular economic activity; regardless of the stage of the life cycle in which the company is located and the like . A business plan is written by the existing, established companies for different needs as well as by startup companies that are eager to show the profitability of the business venture and the success of business ideas realization. The business plan often stands out as a means to establish initial communication between entrepreneurs and financing sources, as well as for their initial meeting. The research problem relates to highlighting the business plan as a very powerful means in the hands of entrepreneurs in applying for obtaining the necessary financial resources. The subject of the research includes the analysis of the differences between the many users of a business plan with an emphasis on commercial banks, investment funds and private investors, as financiers of the business venture and the most important users. The aim of the research relates to highlighting the needs of investors and appreciation of their perspectives in the process of developing a business plan, because without a quality business plan investor is at risk of unsafe moving through a very uncertain and changing environment.

  19. Automatic generation of optimal business processes from business rules

    NARCIS (Netherlands)

    Steen, B.; Ferreira Pires, Luis; Iacob, Maria Eugenia

    2010-01-01

    In recent years, business process models are increasingly being used as a means for business process improvement. Business rules can be seen as requirements for business processes, in that they describe the constraints that must hold for business processes that implement these business rules.

  20. Cyclical Dynamics Of The «External» And «Internal» Environments Of Business-Organizations In Gr-Management

    Directory of Open Access Journals (Sweden)

    A. A. Degtyarev

    2018-01-01

    Full Text Available Within current conditions large business seeks to more actively influence processes of public state policy formulation and implementation connected with regulation of the economy and allocation of public resources. To ensure growing and systemic influence on the processes of government decision making, corporations promote economic interests by creating systems of controlled communications and relations with state bodies (SB. This field of professional activity identified as «GR» (Government Relations is a specific type of management activity, specific cross-sectoral (cross-area management of interactions between business companies (and other non-state actors and the state authorities, located at the crossing of three basic sectors of governance (government, business and social (nonprofit organizations. Professional functions on establishing and maintaining relations between business and government are conducted by GR-departments of large companies, specialized consulting firms and business associations. The complexity of those activities for business organizations proceeds from its specific location at the intersection of two environments (sectors: internal (in-house and external (political and public ones. This means that GR-specialist tries to consider the interests of these counterparties and identify points of intersection, where common interests can develop into business cooperation, and this may also contribute to the constructive involvement of business in shaping public policy. During such activities GR-specialist regularly faces the practical problems of frequent temporary error (“temporal asynchrony” and low level of spatial contingency (“spatial incongruence” between the “sectoral (environmental” types of managerial dynamics and their autonomous rhythms and paces, special sectoral functioning and development strategies, deployed within each of these sectors (industry business strategy vs public policy area and specific

  1. E-business adoption in Nigerian Small Business Enterprises

    OpenAIRE

    Olayinka, Olakunle; Wynn, Martin G; Bechkoum, Kamal

    2016-01-01

    Within the last decade, there has been a global increase in the use of e-business by both large and small companies. Today, it is generally acknowledged that e-business provides a range of opportunities for small businesses to operate and compete effectively; however, in developing countries such as Nigeria, there is very limited research on e-business adoption in the small business sector. This paper reviews existing literature on e-business adoption in developing countries, identifies key i...

  2. Mediating Business

    DEFF Research Database (Denmark)

    "Mediating Business" is a study of the expansion of business journalism. Building on evidence from Denmark, Finland, Norway and Sweden, "Mediating Business" is a comparative and multidisciplinary study of one of the major transformations of the mass media and the realm of business - nationally...... and globally. The book explores the history of key innovations and innovators in the business press. It analyzes changes in the discourse of business journalism associated with the growth in business news and the development of new ways of framing business issues and events. Finally, it examines...... the organizational implications of the increased media visibility of business and, in particular, the development of corporate governance and media relations....

  3. BUSINESS FLUCTUATIONS AND FINANCIAL ACCOUNTING MEASUREMENT: HISTORICAL COMMENTS

    OpenAIRE

    stanley c. w. salvary

    2005-01-01

    This paper addresses a theme in an historical setting that financial accounting measurement contributes to: (1) retardation of national economic growth by the failure of financial accounting to provide for the replacement of capital goods in its measurement process; and (2) the business cycle owing to the illusory profits reported in financial statements. The author explores the issues and concludes that the arguments against accounting are based upon misunderstandings.

  4. Software life cycle management standards real-world solutions and scenarios for savings

    CERN Document Server

    Wright, David

    2011-01-01

    Software Life Cycle Management Standards will help you apply ISO/IEC 19770 to your business and enjoy the rewards it offers. David Wright calls on his vast experience to explain how the Standard applies to the whole of the software life cycle, not just the software asset management aspects. His informative guide gives up-to-date information using practical examples, clear diagrams and entertaining anecdotes.

  5. Conceptual Model of Business Value of Business Intelligence Systems

    OpenAIRE

    Popovič, Aleš; Turk, Tomaž; Jaklič, Jurij

    2010-01-01

    With advances in the business intelligence area, there is an increasing interest for the introduction of business intelligence systems into organizations. Although the opinion about business intelligence and its creation of business value is generally accepted, economic justification of investments into business intelligence systems is not always clear. Measuring the business value of business intelligence in practice is often not carried out due to the lack of measurement methods and resourc...

  6. Business Ethics

    OpenAIRE

    Duong, Thi

    2016-01-01

    The goal of this paper is to present examples of business ethics issues. What is business ethics, things concerned in this field are and why it is needed and important when doing business? The concept of business ethics has connotations to provision, rules and standards in directing the behavior of actors in the business. Business ethics involves compliance with the law, the implementation of ethical responsibilities of a business, the protection of the rights of those who are related to the ...

  7. School-Business Partnerships: Understanding Business Perspectives

    Science.gov (United States)

    Badgett, Kevin

    2016-01-01

    School-business partnerships have been shown to enhance educational experiences for students. There has, however, been limited research demonstrating the priorities and perspectives of for-profit business leaders on those partnerships. In order to address that gap, the researcher interviewed business leaders in two different areas of Texas. After…

  8. Definition of Business Rules Using Business Vocabulary and Semantics

    Directory of Open Access Journals (Sweden)

    Roman Hypský

    2017-12-01

    Full Text Available This paper discusses the definition of business rules using business vocabulary and semantics. At the beginning business rules, business vocabulary and semantics of business rules are specified. There is also outlined the current state of research on this topic. Then the definition and formalization of business rules using semantics and business vocabulary is described. Based on these proposed procedures was created a tool that implements and simulate these processes. The main advantage of this tool is “Business Rules Layer”, which implements business rules into the system but is separated from this system. Source code of the rules and the system are not mixed together. Finally, the results are evaluated and future development is suggested.

  9. Don't hate the business, become the business

    DEFF Research Database (Denmark)

    Andersen, Christian Ulrik; Cox, Geoff; Pold, Søren Bro

    intersections between business and art become a crucial territory for re-invention and the rewriting of symbolic and cultural codes, generating political actions or social hacks that use a deep level of irony, but also unexpected consequences. The tactics demonstrate the permeability of systems — that these can...... this mean that well-meaning critical strategies of artists and activists are self-defeating? How do we develop disruptive business models that do not simply become new models for business that ultimately follow capitalist logic? We maintain there is nothing wrong with doing business as such.......DON’T HATE THE BUSINESS, BECOME THE BUSINESS The panel investigates some of the interconnections between art, activism and business. “Don’t hate the media, become the media”, was one of the slogans of Indymedia. We are applying this critical hands-on perspective to the business framework...

  10. BUSINESS ENGLISH OUTSIDE THE BOX. BUSINESS JARGON AND ABBREVIATIONS IN BUSINESS COMMUNICATION

    Directory of Open Access Journals (Sweden)

    Pop Anamaria-Mirabela

    2014-12-01

    Full Text Available Business English is commonly understood language, yet Harvard Business Review called business jargon “The Silent Killer of Big Companies”. As we all have been taught in school, we are aware of the fact that in communication we must comply with linguistic rules so that our message gets across succinctly. Yet, there is one place where all these rules can be omitted (at least in the recent decades: the corporate office. Here, one can use euphemisms and clichés, can capitalize any word that is considered important, the passive voice is used wherever possible and abbreviations occur in every sentence. The worst part is that all of these linguistic enormities are carried out deliberately. The purpose of this paper is to analyse to what extent business jargon and abbreviations have affected business communication (which most of the time, it is filled with opaque language to mask different activities and operations and the reasons for which these linguistic phenomena have become so successful in the present. One of the reasons for the research is that in business English, jargon can be annoying because it overcomplicates. It is frequently unnecessary and it can transform a simple idea or instruction into something very confusing. It is true that every field has its jargon. Education, journalism, law, politics, medicine, urban planning – no filed is immune. Yet, it seems that business jargon has been described as “the most annoying”. Another reason is that jargon tends to be elitist. Those who do not understand the terms feel confused and uncertain. The paper starts with defining these two concepts, business jargon and abbreviations, and then it attempts to explain the “unusual” pervasion of these, both in business communication and in everyday communication. For this, the paper includes a list with the most common business jargon and abbreviations. In this view, the authors have accessed different economic blogs and specialty journals

  11. Drivers and moderators of business decline

    Directory of Open Access Journals (Sweden)

    Marius Pretorius

    2010-12-01

    Full Text Available Purpose: Reports of business failure elicit various reactions, while research in this domain often appears to be limited by a lack of access to information about failure and by the negativity that surrounds it. Those who have experienced failure do not readily talk about it, or they disappear from the radar screen of researchers. Yet failure is preceded by decline which, when focused on strategically, can reduce eventual failures if early action is taken. The main purpose of this study is to develop a conceptual framework or typology of the drivers and moderators of business decline. Design/methodology/approach: After applying the "grounded theory" approach to the academic literature on decline and failure, a conceptual framework for the variables that drive and moderate business decline is proposed. Findings: The study proposes that decline has three core drivers, three peripheral drivers and four moderators. The core drivers identified are: resource munificence; leadership as origin; and causality (strategic versus operational origin of decline. The three peripheral drivers are: unique preconditions; continuous decisions impact; and extremes dichotomy. The study describes four moderators of the drivers: life cycle stage; stakeholder perspective; quantitative versus qualitative nature of signs and causes; and finally the age and size effects. Research limitations/implications: The proposed conceptual framework is based on literature only, although it has found support during discussions with practitioners. It is proposed to readers of this journal for scrutiny and validation. Practical implications: Strategists need to understand what drives decline in order to act timeously; practitioners who have an insight into the moderators with their impacts could make better decisions in response to decline in organisations and possibly avoid business failure. Originality/Value: Understanding business decline is still a huge theoretical challenge, which

  12. Understanding the IT/business partnership - a business process perspective

    DEFF Research Database (Denmark)

    Siurdyban, Artur

    2014-01-01

    From a business process perspective, the business value of information technologies (IT) stems from how they improve or enable business processes. At the same time, in the field of strategic IT/business alignment, the locus of discussion has been how IT/business partnerships enhance the value of IT....... Despite this apparent relationship, the business process perspective has been absent from the IT/business alignment discussion. In this paper, we use the case of an industrial company to develop a model for understanding IT/business partnerships in business process terms. Based on our findings, we define...... these partnerships by allocating responsibilities between central IT and the local business during two stages of a process lifecycle: formation and standardization. The significance of the findings lies in how the model’s configuration leads to different types of IT units’ process centricity. This in turn affects...

  13. Recent situation of the establishment of nuclear fuel cycle

    International Nuclear Information System (INIS)

    Hoshiba, Shizuo

    1982-01-01

    In Japan, the development of nuclear power as principal petroleum substitute is actively pursued. Nuclear power generation now accounts for about 17 % of the total power generation in Japan. The business related to nuclear fuel cycle should be established by private enterprises. The basic policy in the establishment of nuclear fuel cycle is the stabilized supply of natural uranium, raise in domestic production of enriched uranium, dFomestic fuel reprocessing in principle, positive plutonium utilization, and so on. After explaining this basic policy, the present situation and problems in the establishment of nuclear fuel cycle are described: securing of uranium resources, securing of enriched uranium, reprocessing of used fuel, utilization of plutonium, management of radioactive wastes. (Mori, K.)

  14. Third Party Services for Enabling Business-to-Business Interactions

    Science.gov (United States)

    Shrivastava, Santosh

    Business-to-business (B2B) interactions concerned with the fulfilment of a given business function (e.g., order processing) requires business partners to exchange electronic business documents and to act on them. This activity can be viewed as the business partners taking part in the execution of a shared business process, where each partner is responsible for performing their part in the process. Naturally, business process executions at each partner must be coordinated at run-time to ensure that the partners are performing mutually consistent actions (e.g., the seller is not hipping a product when the corresponding order has been cancelled by the buyer). A number of factors combine to make the task of business process coordination surprisingly hard:

  15. Improving life-cycle cost management in the US. Army: analysis of the U.S. Army and Commercial Businesses life-cycle cost management.

    OpenAIRE

    White, Bradley A.

    2001-01-01

    The roles and responsibilities of the Army acquisition and logistics communities, as they pertain to the life-cycle management, are undergoing fundamental change. The early identification and total control of life-cycle cost, in particular operations and sustainment costs which comprises as much as 70-80% of a systems total life-cycle cost, is a high priority for the Army. The basis of this change is adoption of commercial best practices to support the Army's goal to organize. tram. equip, an...

  16. Bridging the gap between financial reporting and the revenue cycle.

    Science.gov (United States)

    Clark, Kari; Bang, Derek A

    2012-09-01

    Implementing a standardized financial reporting and revenue cycle monitoring platform can help healthcare organizations improve their net revenue reporting and budgeting processes. Consistent, standardized data help the finance office estimate accounts receivable reserves more accurately, streamline the month-end closing process, and strengthen internal controls. The benefits of standardizing the finance and revenue cycle functions are particularly significant in large organizations with multiple facilities, but even single-facility providers can benefit from improved communication between the business office and finance.

  17. Creating a Business Case from a Business Model

    NARCIS (Netherlands)

    Meertens, Lucas Onno; Starreveld, Eelco; Iacob, Maria Eugenia; Nieuwenhuis, Lambertus Johannes Maria; Shishkov, Boris

    2014-01-01

    Intuitively, business cases and business models are closely connected. However, a thorough literature review revealed no research on the combination of them. Besides that, little is written on the evaluation of business models at all. This makes it difficult to compare different business model

  18. 76 FR 8221 - Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status...

    Science.gov (United States)

    2011-02-11

    ... Vol. 76 Friday, No. 29 February 11, 2011 Part VII Small Business Administration 13 CFR Parts 121 and 124 Small Business Size Regulations; 8(a) Business Development/Small Disadvantaged Business Status... Regulations#0;#0; [[Page 8222

  19. Involving business users in business rules lifecycle

    OpenAIRE

    Thorževskij, Sašo

    2010-01-01

    Organizations operate in dynamic environments, which require continuous modifications of business policies. The latter also implies changes in business informatics, the basis for effective and prosperous operation. To answer to the constant need for modifications and adaptations, a new approach to information systems design and implementation has been developed, based on separating business rules from the rest of the information system. In such solutions, business rule execution is entrusted ...

  20. SYNCHRONOUS AND ASYNCHRONOUS FLUCTUATIONS OF BUSINESS ACTIVITY IN THE COUNTRIES ACCORDING TO THEIR CREDIT RATING

    Directory of Open Access Journals (Sweden)

    N. Servetnyk

    2013-05-01

    Full Text Available The paper considers methods of research of business cycles synchronization in different countries. The relationships in groups of countries by credit ratings are analyzed. The study defines factors of synchronization.

  1. Business Model Innovation: How Iconic Business Models Emerge

    OpenAIRE

    Mikhalkina, T.; Cabantous, L.

    2015-01-01

    Despite ample research on the topic of business model innovation, little is known about the cognitive processes whereby some innovative business models gain the status of iconic representations of particular types of firms. This study addresses the question: How do iconic business models emerge? In other words: How do innovative business models become prototypical exemplars for new categories of firms? We focus on the case of Airbnb, and analyze how six mainstream business media publications ...

  2. Business Process Simulation: Requirements for Business and Resource Models

    Directory of Open Access Journals (Sweden)

    Audrius Rima

    2015-07-01

    Full Text Available The purpose of Business Process Model and Notation (BPMN is to provide easily understandable graphical representation of business process. Thus BPMN is widely used and applied in various areas one of them being a business process simulation. This paper addresses some BPMN model based business process simulation problems. The paper formulate requirements for business process and resource models in enabling their use for business process simulation.

  3. UTILIZATION OF QUALITY MANAGERIAL SYSTEMS IN BUSINESS ENTITIES IN THE SLOVAK REPUBLIC

    Directory of Open Access Journals (Sweden)

    Zuzana Kapsdorferová

    2015-06-01

    Full Text Available Current global trends force businesses to enhance their competitiveness via quality, innovations, leaning of production processes and shortening of production cycles, development of employees and satisfying of customer's needs. At the same time, the society demands from entities more emphasis on sustainable development, environmental protection, social responsibility and on other social aspects of the business. Many firms seek the ways how to master such important demands and gain the recognition on the market. One of the avenues how to achieve planned results resides in implementation of the Total Quality Management systems, which also provide grounds for reaching a status of reliable business partner. Presented research paper puts an emphasis on execution of research in order to find out about the situation with the status of implementation of the quality managerial systems in Slovak businesses as well as to recognize reasons and contributions of usage of these systems in their activities.

  4. Life, death and rebirth of the B2B business model

    DEFF Research Database (Denmark)

    Hollensen, Svend; Bogers, Marcel; Boyd, Britta

    through cycles of expansion and decline is the Danish family-owned Cimber airline. In this paper, we aim to understand how and why Cimber’s business model changed over time. Since its original establishment in 1950 the family-owned airline Cimber experienced many changes. To study the development......Many airline companies are struggling to survive after the industry has been hit hard by several crises. The reaction of companies is however heterogeneous, with family businesses reacting in a particular way given their inherent characteristics and particular risks. One airline that has went...... of their business model, we adopt a qualitative case study approach. The empirical base of the case study is formed by a set of interviews, with previous and current managers and employees, including both family and non-family, conducted in the period 2011-2014, complemented with secondary data, such as annual...

  5. What is the Business of Business?

    DEFF Research Database (Denmark)

    Lystbæk, Christian Tang

    2014-01-01

    environment but, in turn, is affected by it. Sustainability has until relatively recently been seen as irrelevant to business practice, but, today, environmental issues are increasingly becoming a key business concern at local, national, international and global levels (e.g. Worthington, 2013). Corporate......This paper argues that environment issues in general and energy transition in particular have become central issues in the twenty-first century. Environmental problems pervade all areas of daily life, including the world of business. Put simply, business activity not only affects the natural...... Sustainability Responsibility (CSR) is an important part of the “greening” of business (Worthington, 2013). But it is also used as “greenwashing”. Thus, CSR is an exemplar of the type of “wicked problem” that characterizes much of sustainability: It is a solution that poses as many threats and complications...

  6. MARKETING CHALLENGES FOR SOUTH AFRICAN PUBLIC SECTOR BUSINESS INCUBATOR

    Directory of Open Access Journals (Sweden)

    Donaldson Walter James

    2017-12-01

    Full Text Available Entrepreneurship and innovation form the cornerstone of economic development in many developing countries. Through this, rather ideal combination employment can be enhanced, communities can be uplifted through education, and growth can be increased through discretionary purchasing power. This cycle has positive spinoffs which can alleviate poverty and decrease famine. Recent local research suggests that more than eighty percent of entrepreneurs, start-ups and Business ‘Incubatees’ don’t make it through their first year of establishment after leaving a Business Incubator programme. This paper tries to identify some of the marketing challenges faced by Business Incubators, and indeed BIMs in the Public Sector environment in South Africa. Identification and highlighting the possible drawbacks for ‘incubatees’ may assist them with success or meeting competitive challenges when they depart from the security of the relevant programmes. This study examines some of the skills, knowledge and attributes required for BIMs in this sector and what is required to meet the business and marketing challenges faced to remain sustainable. The survey was aimed at the largest, focused segment of South African Business Incubators affiliated to the industrial public sector and the hypothesis was to prove that strategic marketing information, acumen and knowledge is a key differentiator towards the growth and sustainability of Business Incubators in that sector. It is notable that these marketing challenges may also compare favourably with several other public sector segments in relevant countries of the southern African region as similar macroeconomic challenges are faced.

  7. Formulating a preliminary business plan for a business consultancy company : case: CreaNets Business Development and Consultancy

    OpenAIRE

    Korkmaz, Gökhan

    2015-01-01

    The main purpose of this research is to formulate a preliminary business plan for a business consultancy which will operate between Finland and Turkey and be headquartered in Finland. The research focuses on practical information on entrepreneurship, business planning and business models as well as starting up a new business in Finland. During the theoretical framework, information is provided on entrepreneurship and business planning. Hoffren’s Dynamic Business Model and Osterwalder’s Bu...

  8. Business Climate and Good Governance

    Directory of Open Access Journals (Sweden)

    Besmira Manaj

    2015-03-01

    Full Text Available This paper consists of three factors, namely: Good Governance, Business Climate and Corruption. How they affect the development product of Albania, not only as a concept, and a principle but mostly as a sensitive aspect in the integration process. There are some interpretations of this concept, but I intend to analyze the key factors and actors, their cooperation and concrete production in society. Improving governance is necessary to have an integrated long term strategy based upon a continuous cooperation between institutions and citizens. But in developing countries like Albania there are some important questions such as: How can we measure the improvement of Good Governance through policies? Has Good Governance indicated an effective way for the sustainable development? (Meisel, 2008, 6. These question give us the orientation to reflect about the process of development, social economic political behavior and how this multidimensional is transformed in product of good governance. The business cycle is strongly connected with many aspects of political-, social-, juridical aspects and good governance. Despite attempts to draft law regulations, the level of corruption and informality in Albania continues to be a major obstacle. The credibility level in the implementation of law is an indicator that affects democratization and institutional integration. At present, different reports of international institutions, define Albania as the country with the highest level of Corruption in the Balkans, which is a key factor influencing business. The ways with

  9. Taking Business Intelligence to Business Education Curriculum: Graduate Students’ Concerns

    Directory of Open Access Journals (Sweden)

    Philip Kissi

    2017-06-01

    Full Text Available Business intelligence systems are widely employed in industries. However, students concerns about Business Intelligence course are largely missed in the business education curriculum. To take a proper decision on Business intelligence integration in business education, it is important to understand students’ concerns. This study employed a survey questionnaire to investigate 142 graduate students concerns about integrating business intelligence into business education curriculum. The survey questionnaire was adopted from previous studies to measure students’ concerns on a Business Intelligence job opportunity, interest and relevance in the Business intelligence education. The survey items have a reliability scales of Cronbach’s alpha (α = 0.818, factor loading > 0.5, and Average Variance Extracted (AVE ≥ 0.5, and Composite Reliability (CR ≥ 0.6. Descriptive statistics and Independent sample t-test and Analysis of Variance (ANOVA test were performed on the survey data. Students revealed that Business intelligence knowledge is relevant (mean = 4.29, SD = 0.710, has several job opportunities (mean = 4.16, SD = 0.675, and should be integrated into business education curriculum (mean = 3.95.08, SD = 0.79. In addition, there was no statistically significant difference (t (140 = –0.027, p > 0.05 between the concerns of students with Business Intelligence lecture experience and those without. Further, perceived importance and job opportunity significantly, F = 24.601 and p = .000(< .05 relates to the Business intelligence integration in Business Education. The findings draw implications for university management and business institutions in updating curriculum so as to equip business students with the essential Business Intelligence knowledge and skills for the betterment of the business organizations.

  10. Art Interrupting Business, Business interrupting Art

    DEFF Research Database (Denmark)

    Kampf, Constance Elizabeth

    2014-01-01

    Tensions between global corporations and digital artists who use business as an artistic and activist medium reveal rough edges in the interface between business and society. This interaction can be seen as a space where the interface between business and society is being challenged, with artists...... performing online art that raises awareness about hidden aspects of business practices. As digital artists place the spotlight on activities and business strategies that are not part of corporate plans for communicating their “transparency,” they also work to reconfigure and re(de)fine this interface. To set...... the scene for understanding digital activism, this chapter examines a partial history of digital artist activism focused on ®™ark and etoy, two artist collectives that were networked and cooperated on some projects in the late 1990s. The focus is on two projects and their impacts: Toywar and Vote...

  11. Playful Business

    DEFF Research Database (Denmark)

    Lund, Morten; Hansen, Poul H. Kyvsgård; Nielsen, Louise Møller

    2011-01-01

    ” The term business model can be defined as a business concept that has been put into practice. The increase in dynamics in markets, technology, economies etc. challenge the requirements to make consistent and synchronized decisions on which business models to develop and implement. Complexity...... efficiently. This paper describes initial experiences of facilitating business model mapping or business model innovation by game-like setups.”...

  12. Business opportunities

    Science.gov (United States)

    Los Alamos National Laboratory Search Site submit About Mission Business Newsroom Publications Los : Environmental Documents, Reports LANL Home Calendar Search Contacts Business » Short- and long-term opportunities Business opportunities Setting new standards and developing small business initiatives within NNSA

  13. BUSINESS CLIMATE INDICATOR AS A PREDICTOR OF CROATIAN INDUSTRIAL PRODUCTION

    Directory of Open Access Journals (Sweden)

    Mirjana Čižmešija

    2010-12-01

    Full Text Available Business and Consumer Surveys (BCS are one of the most frequently used tools to assess economy’s cyclical behavior. Croatia has been conducting the surveys continually since 1995. Nevertheless, there is still a research niche in the Croatian BCS framework that has not been adequately represented. The Joint Harmonised EU Programme of Business and Consumer Surveys suggests Business Climate Indicator (BCI as a composite leading indicator of the economy as a whole. In accordance to the EU methodology, this paper examines managers’ qualitative assessments on five important variables related to their economic environment. Using factor analysis one factor was extracted from those five variables, representing the BCI. It’s predictive properties were analyzed with regards to Croatian industrial production using Granger causality test, impulse response and variance decomposition analysis. Results strongly confirm the precedence of BCI to the changes of Croatian industrial production, validating the importance of its introduction and utilization in Croatian economic cycles analysis.

  14. Recent evidence on the muted inventory cycle

    OpenAIRE

    Andrew J. Filardo

    1995-01-01

    Inventories play an important role in business cycles. Inventory build-ups add momentum to the economy during expansions, while inventory liquidations sap economic strength during recessions. In addition, because inventory fluctuations are notoriously difficult to predict, they present considerable uncertainty in assessing the economic outlook.> The role of inventories in shaping the current outlook for the U.S. economy is particularly uncertain. In the early 1990s, inventory swings appeared ...

  15. CYCLES AND CRISES: HISTORY AND MODERNITY (THE RESULTS OF THE INTERNATIONAL NOBEL ECONOMIC FORUM)

    OpenAIRE

    Borys I.KHOLOD; Anatoly O.ZADOYA

    2009-01-01

    The paper analysis the main features of crisis phenomena in the early 21st century taking into consideration the overlapping stages of different types of business cycle (short and medium terms). The authors evaluate different kinds of economic cycles from the viewpoint of both history and modernity on the basis of opinions formulated during the International Nobel Economic Forum ôWord Economy in the 21th Century: Cycles and Crisesö (held in September 2008 at Dnipropetrovsk, University of Econ...

  16. Model business letters, emails and other business documents

    CERN Document Server

    Taylor, Shirley

    2012-01-01

    For anyone who wants to communicate effectively in business, this is your complete reference guide for any form of written communication. Packed with over 500 sample documents, over 100 tips for better business writing and useful templates you can apply to your writing immediately, Model Business Letters will help you put the key rules of good business writing into action.

  17. BUSINESS ETHICS

    Directory of Open Access Journals (Sweden)

    Nelu BURCEA

    2014-12-01

    Full Text Available Through this study we seek to explore the concept of business ethics, in those aspects that we consider to be essential and concrete. We started from a few questions: Could the two concepts be compatible? If not, why not? If yes, could they be complementary? How real is the use of ethics in the profits of a business? How can be business ethics be exemplified and what principles are essential in doing business? How does the business environment react to the concept? These are some of the elements that will form the basis of this scientific study. Lately, business ethics has been becoming an increasingly popular topic. Set against the global economic crisis, the companies’ credibility could become a major concern. Business ethics also becomes a challenge for training and informing employees and employers, in order to make not only economical, but also ethical decisions regarding their profits. In the study we shall also address the ethical standards required in a business world interested in fundamental values that can make the difference in 21st century business. Also, according to a study conducted by the authors, we shall address the two most important ethical values that prove to be essential to a business.

  18. The nuclear fuel cycle, an overview

    International Nuclear Information System (INIS)

    Ballery, J.L.; Cazalet, J.; Hagemann, R.

    1995-01-01

    Because uranium is widely distributed on the face of the Earth, nuclear energy has a very large potential as an energy source in view of future depletion of fossil fuel reserves. Also future energy requirements will be very sizeable as populations of developing countries are often growing and make the energy question one of the major challenges for the coming decades. Today, nuclear contributes some 340 GWe to the energy requirements of the world. Present and future nuclear programs require an adequate fuel cycle industry, from mining, refining, conversion, enrichment, fuel fabrication, fuel reprocessing and the storage of the resulting wastes. The commercial fuel cycle activities amount to an annual business in the 7-8 billions of US Dollars in the hands of a large number of industrial operators. This paper gives details about companies and countries involved in each step of the fuel cycle and about the national strategies and options chosen regarding the back end of the fuel cycle (waste storage and reprocessing). These options are illustrated by considering the policy adopted in three countries (France, United Kingdom, Japan) versed in reprocessing. (J.S.). 13 figs., 2 tabs

  19. Business Education--Business Law: Grades 10-12.

    Science.gov (United States)

    Instructional Objectives Exchange, Los Angeles, CA.

    Thirty-seven objectives and related test items for business law courses taught in grades 10 through 12 are organized into the following categories: (1) foundations of law; (2) law of contracts, property, and negotiable instruments; (3) business relations and business organizations; and (4) vocabulary. Each objective contains three elements: the…

  20. Business Inspiration: Small Business Leadership in Recovery?

    Science.gov (United States)

    Rae, David; Price, Liz; Bosworth, Gary; Parkinson, Paul

    2012-01-01

    Business Inspiration was a short, action-centred leadership and innovation development programme designed for owners and managers of smaller firms to address business survival and repositioning needs arising from the UK's economic downturn. The article examines the design and delivery of Business Inspiration and the impact of the programme on…

  1. What is the Business of Ethics in Business Ethics?

    DEFF Research Database (Denmark)

    Lystbæk, Christian Tang

    For the last decades, business ethics have spread from a new brand of a few socially and environmentally benevolent companies to the corporate mainstream. Thus, today, business ethics have become a central concern for both business managers and researchers in order to manage the cultural value base...... of the organization, stakeholder relations, etc.. Throughout the history of business ethics, though, and especially in the last decade, a series of studies have criticized the dominant view of business ethics for being instrumental and reductive. This critique often dismisses business ethics altogether. This paper...... addresses these “movements” or approaches to business ethics. It argues that business ethics is caught between two conceptions of what it is for. The first movement promotes the idea that it can be a reassuring and satisfying set of ideas that reminds us how to do the right thing in order to manage...

  2. Business model transformation process in the context of business ecosystem

    OpenAIRE

    Heikkinen, A.-M. (Anne-Mari)

    2014-01-01

    Abstract It is current phenomena that business environment has changed and has set new requirements for companies. Companies must adapt to the changes comes from outside its normal business environment and take into consideration wider business environment where it operates. These changes also have set new demands for company business model. Companies Business models need to be changed to match state of art business environ...

  3. Defense Business Board

    Science.gov (United States)

    Skip to main content (Press Enter). Toggle navigation Defense Business Board Search Search Defense Business Board: Search Search Defense Business Board: Search Defense Business Board Business Excellence in Defense of the Nation Defense Business Board Home Charter Members Meetings Studies Contact Us The Defense

  4. Conceptualizing strategic business model innovation leadership for business survival and business model innovation excellence

    DEFF Research Database (Denmark)

    Lindgren, Peter; Abdullah, Maizura Ailin

    2013-01-01

    Too many businesses are being marginalized by blind "business model innovations (BMIs)" and simple "BMIs". As documented in previous research (Markides 2008, Lindgren 2012), most businesses perform BMIs at a reactive level i.e. perceiving what the market, customers and network partners might want...... rather than what they actually demand. Few businesses have the ability to proactively lead BMIs and on a strategic level lead BMIs to something that fits the business’s long term perspective (Hamel 2011). Apple, Ryanair, Facebook, Zappo are some businesses that have shown BMI Leadership (BMIL......) in a proactive way - and more importantly, as some examples of first level BMIL. The overall aim of the BMIL is to prevent businesses from being marginalized by the BMI and thereby to optimize the business’s total BMI investment. The literature research and case research we studied gave us some important...

  5. E Business

    OpenAIRE

    Temjanovski, Riste

    2012-01-01

    In contemporary economic science study of е-business becomes necessary and imperative in contemporary work. The purpose of the program is available in a clear and acceptable way to meet the needs, models, application and protection of electronic business. Here are the basic models of electronic commerce, electronic banking, e-business infrastructure and so on. Electronic business or short e-business aims to expand the powers of an organizational unit in the development of innovative inform...

  6. The Impact of e-Business Strategy on Home-Based Business

    Directory of Open Access Journals (Sweden)

    Rosnafisah Sulaiman

    2009-06-01

    Full Text Available The Internet technology has brought major changes to the way business is conducted today. Many terms have been coined to represent the electronic concepts and applications such as e-Business and e-Commerce terms. These terms are commonly used to represent the new transformation of business processes and transactions. In Malaysia, e-Business adoption has not only captured the interest of large organizations but it has also been acknowledged and adopted by small, medium and micro sized enterprises. Implementing e-Business requires significant changes in the company’s structure, culture, strategy, procedures and responsibilities. However, the challenges never stop people from venturing into this new business concept. The aim of this study is to look into e-Business potential for micro sized businesses that operates from home. In this study both qualitative and quantitative method are used. This paper present a review of the literature pertaining to e-Business, home-based business, the qualitative study and the early findings from the study.

  7. SMALL BUSINESS: Status of Small Disadvantaged Business Certifications

    Science.gov (United States)

    2001-01-01

    agencies’ Offices of Small Disadvantaged Business Utilization, as well as officials from the U. S. Chamber of Commerce , and other small business...being lower than anticipated by SBA. Officials from SBA, the U. S. Chamber of Commerce , the Women’s Business Enterprise National Council, the...certified as SDBs. Officials from SBA, two federal agencies’ Offices of Small and Disadvantaged Business Utilization, the U. S. Chamber of Commerce , the

  8. Small Business Management; Business Education: 7739.11.

    Science.gov (United States)

    McCool, Felix J.

    This curriculum guide gives a brief review of the relation of business to the community and an introduction to problems in organizing a small business. These problems include basic long-range decisions: type of financing, need for the business, and method of financing. The document also focuses on the more immediate problems of location, housing,…

  9. Life cycle assessment and the agri-food chain

    DEFF Research Database (Denmark)

    Hermansen, John Erik; Nguyen, T Lan T

    2012-01-01

    Our food consumption is responsible for a major part of the environmental impact related to our total consumption. Life cycle assessment (LCA) is a product-oriented tool that can be used efficiently to identify improvement options within the food chain covering a product’s life cycle from cradle...... to grave, which is very complex for many foods, and to support choices of consumption. The LCA methodology is supported by public standards and public policy measures and has proved its value in business development for more environmentally friendly products. It is an essential feature that the effects...... of resource use and emissions associated with a product’s life cycle can be aggregated into impact categories (e.g., nonrenewable energy use, land occupation, global warming, acidification, etc.) and further aggregated into overall damage impacts (e.g., impacts on biodiversity, human health, and resource...

  10. Business Model Innovation

    OpenAIRE

    Dodgson, Mark; Gann, David; Phillips, Nelson; Massa, Lorenzo; Tucci, Christopher

    2014-01-01

    The chapter offers a broad review of the literature at the nexus between Business Models and innovation studies, and examines the notion of Business Model Innovation in three different situations: Business Model Design in newly formed organizations, Business Model Reconfiguration in incumbent firms, and Business Model Innovation in the broad context of sustainability. Tools and perspectives to make sense of Business Models and support managers and entrepreneurs in dealing with Business Model ...

  11. IMPACT OF COMMITMENT TO BUSINESS ETHICS TO NONFINANCIAL BUSINESS PERFORMANCE

    Directory of Open Access Journals (Sweden)

    Silvija Vig

    2016-03-01

    Full Text Available The article investigates the relationship between commitment to business ethics and nonfinancial business performance. Data of commitment to business ethics and nonfinancial business performance were collected from 100 participants through a questionnaire survey. The survey was conducted in 2015 in Croatian large and medium sized companies. The questionnaire for assessing commitment to business ethics contained nine different dimensions while the nonfinancial business performance contained three dimensions: client satisfaction, human resource management plus innovativeness and efficiency of business processes. Multiple regression methods were applied in the analysis. The empirical results of three multiple linear regression models show that certain dimension of commitment to business ethics had a positive influence on the nonfinancial performance of the companies. Motivation and rewarding policy for ethical behavior and responding to unethical behavior, as a dimension of commitment to business ethics, has distinctive effects on all three nonfinancial performance dimensions. It was also found that selecting suppliers based on the standards of ethics and compliance has a positive and strong influence on client satisfaction while using ethical criteria in the performance and efficiency evaluation of employees has a positive and significant influence on innovativeness and efficiency of business processes. This research leads to the conclusion that some dimensions of commitment to business ethics can be important predictors of nonfinancial business performance. Therefore, results of the research could be considered as valid motivation for further improvement of commitment to ethics in the business environment.

  12. Brand Management in Business-to-Business Context : Relational Perspective

    OpenAIRE

    Siponen, Jere

    2012-01-01

    It is a common belief among managers that branding is only useful in Business-to-Consumer markets and not in Business-to-Business. These managers think that the Busi-ness-to-Business rational and unemotional buying decision-making process cannot be affected by brand because it is only concerned with features, price, quality and so on. This is incorrect information. The possibility to choose between competitors has grown during time and this has expanded the traditional view of branding. A tru...

  13. Research on the Evolution of Internet Enterprise Business Model in its Life Cycle --A Case Study of Tencent%互联网企业发展过程中商业模式的演变——基于腾讯的案例研究

    Institute of Scientific and Technical Information of China (English)

    罗小鹏; 刘莉

    2012-01-01

    互联网企业的商业模式具有较强的可塑性,企业应在发展过程中根据内外部环境的变化对商业模式进行创新。本文运用商业模式“3—4~8”理论,以腾讯公司为目标企业,对该公司在生命周期三个阶段的商业模式创新及演变进行案例研究。研究表明,腾讯在创业期、成长期和成熟期不同发展阶段,商业模式表现出独特的演变路径和鲜明的特征,商业模式的创新提升了公司的价值和竞争力,其成功经验为我国互联网企业提供了启示与借鉴。%Internet enterprise business model has strong plasticity, entrepreneurs should innovate the business model according to the change of internal and external environment. Business model is an architectural structure that organization position and integrate its value, strategy and operation system into a organic integrity, and through offering a series of products or services to realize its goal. By reviewing the papers, we can find that related research of business model is in the ascendant in recent 10 years. In the thesis, We adopted case study method, based on 3 -4 -8 business model theory, chose a iconic internet company Tencent Holding Co. Ltd( short for Tencent) as the object. From the enterprise life cycle perspective, We explored the innovation of Tencent's business model, induction conditions, characteristic, and the evolution path in different period. Concluded innovation type of business model, and summarized the inspirations that internet enterprises should follow when innovating their business model. Our research was carried out by three steps: Firstly, we reviewed the existing theories at home and abroad, summarize the definition of business model, and presented my definition. Then, used"3 -4 -8" business model architectural structures for reference, followed the modular deconstruction thinking, investigated and executed data analysis on 23 modular indexes. On the basis

  14. BUSINESS ETHICS

    OpenAIRE

    Nelu BURCEA; Ion CROITORU

    2014-01-01

    Through this study we seek to explore the concept of business ethics, in those aspects that we consider to be essential and concrete. We started from a few questions: Could the two concepts be compatible? If not, why not? If yes, could they be complementary? How real is the use of ethics in the profits of a business? How can be business ethics be exemplified and what principles are essential in doing business? How does the business environment react to the concept? These are some of the eleme...

  15. Care coordination in a business-to-business and a business-to-consumer model for telemonitoring patients with chronic diseases.

    Science.gov (United States)

    Grustam, Andrija S; Vrijhoef, Hubertus; Cordella, Antonio; Koymans, Ron; Severens, Johan L

    2017-12-01

    For telemonitoring to support care coordination, a sound business model is conditional. The aim of this study is to explore the systemic and economic differences in care coordination via business-to-business and business-to-consumer models for telemonitoring patients with chronic diseases. We performed a literature search in order to design the business-to-business and business-to-consumer telemonitoring models, and to assess the design elements and themes by applying the activity system theory, and describe the transaction costs in each model. The design elements are content, structure, and governance, while the design themes are novelty, lock-in, complementarities, and efficiency. In the transaction cost analysis, we looked into all the elements of a transaction in both models. Care coordination in the business-to-business model is designed to be organized between the places of activity, rather than the participants in the activity. The design of the business-to-business model creates a firm lock-in but for a limited time. In the business-to-consumer model, the interdependencies are to be found between the persons in the care process and not between the places of care. The differences between the models were found in both the design elements and the design themes. Care coordination in the business-to-business and business-to-consumer models for telemonitoring chronic diseases differs in principle in terms of design elements and design themes. Based on the theoretical models, the transaction costs could potentially be lower in the business-to-consumer model than in the business-to-business, which could be a promoting economic principle for the implementation of telemonitoring.

  16. Business architecture management architecting the business for consistency and alignment

    CERN Document Server

    Simon, Daniel

    2015-01-01

    This book presents a comprehensive overview of enterprise architecture management with a specific focus on the business aspects. While recent approaches to enterprise architecture management have dealt mainly with aspects of information technology, this book covers all areas of business architecture from business motivation and models to business execution. The book provides examples of how architectural thinking can be applied in these areas, thus combining different perspectives into a consistent whole. In-depth experiences from end-user organizations help readers to understand the abstract concepts of business architecture management and to form blueprints for their own professional approach. Business architecture professionals, researchers, and others working in the field of strategic business management will benefit from this comprehensive volume and its hands-on examples of successful business architecture management practices.​.

  17. European Management Learning: A Cross-Cultural Interpretation of Kolb's Learning Cycle.

    Science.gov (United States)

    Jackson, Terence

    1995-01-01

    A survey of a French business school with multinational branch campuses received 123 usable responses supporting the proposition that cross-cultural differences exist within each of Kolb's learning cycle stages. National profiles of learning preferences were developed for French, German, Spanish, Anglo-Irish, and Eastern European learners. (SK)

  18. Attentiveness cycles: synchronized behavior and aggregate fluctuations

    Directory of Open Access Journals (Sweden)

    Orlando Gomes

    2012-09-01

    Full Text Available A sticky-information macroeconomic model is developed in order to analyze the behavior of the time trajectories of the inflation rate and of the output gap, when disturbed by eventual monetary policy shocks. In opposition to what is typical in the literature on this subject, different paces on information updating explicitly lead to a setting with interaction among heterogeneous agents. Specifically, we consider firms with different information updating frequencies whose behavior implies the emergence of attentiveness cycles of possibly large lengths; within these cycles we deduct a differently shaped Phillips curve for each time period. Systematic changes on the form of the aggregate supply relation will be the engine that triggers a sluggish response to shocks and the eventual persistence of business fluctuations.

  19. Developing "Green" Business Plans: Using Entrepreneurship to Teach Science to Business Administration Majors and Business to Biology Majors

    Science.gov (United States)

    Letovsky, Robert; Banschbach, Valerie S.

    2011-01-01

    Biology majors team with business administration majors to develop proposals for "green" enterprise for a business plan competition. The course begins with a series of student presentations so that science students learn about the fundamentals of business, and business students learn about environmental biology. Then mixed biology-business student…

  20. Business plan competition

    CERN Multimedia

    2007-01-01

    "Venture – Companies for tomorrow" is a business plan competition, which supports students and other junior entrepreneurs in developing their business plans. The sixth edition of the competition is now taking place. Venture 2008 highlights: - prize money totalling CHF 150’000; - possibility to optimize business ideas and business plans with the help of experienced coaches: around 200 coaches are available, with a wide range of backgrounds, entrepreneurs as well as venture capitalists; -\tpossibility to present business ideas and business plans to potential investors ("Investor Days" - 17 January and 7 May); - active involvement in the start-up community; -\tcontribution to potential independence. The competition consists of two phases: Phase I, Business idea, Deadline for submission of business idea: 5 December 2007 (online at http://www.venture.ch). Award Ceremony: 17 January 2008 Phase II, Business plan Deadline for submission of business plan: 2 April 2008 (online at...

  1. Interactive pinball business

    DEFF Research Database (Denmark)

    Buur, Jacob; Gudiksen, Sune Klok

    2012-01-01

    Interaction design expands into new fields. Interaction design and business model innovation is a promising meeting of disciplines: Many businesses see the need to rethink their ways of doing business, and, as business models pose highly dynamic and interactive problems, interaction design has much...... with hypotheses and experiment with scenarios as a way of innovating their business models, and why this is so...... to offer. This paper compares 'tangible business models' in the form of pinball-like contraptions, designed by interaction design students with those developed by groups of professionals around concrete business issues. We will show how the interactive models encourage business people to play...

  2. Progressive Business

    DEFF Research Database (Denmark)

    Christiansen, Christian O.

    2016-01-01

    Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015.......Guest Post to the Society for U.S. Intellectual History Blog. Brief introduction to the book Progressive Business: An Intellectual History of the Role of Business in American Society, Oxford U.P., 2015....

  3. 78 FR 77377 - Small Business Investment Companies-Investments in Passive Businesses

    Science.gov (United States)

    2013-12-23

    ... SMALL BUSINESS ADMINISTRATION 13 CFR Part 107 RIN 3245-AG57 Small Business Investment Companies--Investments in Passive Businesses AGENCY: U.S. Small Business Administration. ACTION: Proposed rule. SUMMARY... Investment Company (SBIC) program concerning investments in passive businesses. SBICs are generally...

  4. EDUCATIONAL BUSINESS IN INDONESIA: ITS SCIENTIFIC QUALITY AND PROFESSIONAL BUSINESS CHALLENGE

    OpenAIRE

    Enjang Sudarman

    2011-01-01

    This study discovers concept and principles to become new theories regarding educational business, study business theories with regard to educational business format, business planning, strategic management, marketing management, financial management and educational business ethics. Some educational business success in Indonesia has executed well by formal and informal organization in university level, study group and courses. This is implicative scientific development and educational busines...

  5. Present state and problems of uranium fuel fabrication businesses

    International Nuclear Information System (INIS)

    Yuki, Akio

    1981-01-01

    The businesses of uranium fuel fabrication converting uranium hexafluoride to uranium dioxide powder and forming fuel assemblies are the field of most advanced industrialization among nuclear fuel cycle industries in Japan. At present, five plants of four companies engage in this business, and their yearly sales exceeded 20 billion yen. All companies are planning the augmentation of installation capacity to meet the growth of nuclear power generation. The companies of uranium fuel fabrication make the nuclear fuel of the specifications specified by reactor manufacturers as the subcontractors. In addition to initially loaded fuel, the fuel for replacement is required, therefore the demand of uranium fuel is relatively stable. As for the safety of enriched uranium flowing through the farbicating processes, the prevention of inhaling uranium powder by workers and the precaution against criticality are necessary. Also the safeguard measures are imposed so as not to convert enriched uranium to other purposes than peacefull ones. The strict quality control and many times of inspections are carried out to insure the soundness of nuclear fuel. The growth of the business of uranium fuel fabrication and the regulation of the businesses by laws are described. As the problems for the future, the reduction of fabrication cost, the promotion of research and development and others are pointed out. (Kako, I.)

  6. Cycles of Expansion in Higher Education 1870-1985: An International Comparison.

    Science.gov (United States)

    Windolf, Paul

    1992-01-01

    The relationship between business cycles and expansion in higher education in 1870-1985 is analyzed and compared for Germany, Italy, France, the United States, and Japan. In most countries, expansion corresponded to economic recession. Spectral analysis, used to explore the cyclical character of the phenomenon, was found to be a powerful…

  7. Interventions during the problem -solving cycle

    DEFF Research Database (Denmark)

    Schlichter, Bjarne Rerup; Svejvig, Per; Andersen, Povl Erik Rostgaard

    Obtaining business value from IT is a recurring theme that has diffused into healthcare information systems (HIS) where stakeholders often question the value of IT investments. Having completed the implementation of an integrated HIS, the Faroese Health Service (FHS) has commenced discussions...... concerning getting value from their IT investment. In order to fulfill this objective an action research project was started in the fall of 2010 consisting of three cycles: (1) setting the stage for benefit realization; (2) benefit realization in a pilot area; (3) diffusion of benefit realization to other...... areas. The first cycle has revealed that it is not possible to distinguish between working processes and HIS, that benefit realization in healthcare (a public organization) has a much broader perspective than just financial value and that the reaping of benefits is quite difficult. This paper reports...

  8. Causes of Contractor's Business Failure in Developing Countries: The Case of Palestine

    Directory of Open Access Journals (Sweden)

    Sherif Mohamed

    2006-12-01

    Full Text Available The construction industry has unique characteristics that sharply distinguish it from other sectors of the economy. It is fragmented, very sensitive to the economic cycles and political environment, and has a significantly high rate of business failure. Business failure, collapse and bankruptcy are common terms in the industry due to the many risks inherited in how the industry operates. Throughout the world, the relative ease of entry gives rise to a large number of contracting firms competing fiercely in the market exposing many of them to business failure, Palestine is no exception. The objectives of this paper are to report on a research study which aims at exploring the causes of contractor's business failure in Palestine, and investigating their severity from the contractor's point of view. The study's results shows that the main causes of business failure are delay in collecting debt from clients (donors, border closure, heavy dependence on bank loans and payment of high interest on these loans, lack of capital, absence of industry regulations, low profit margin due to high competition, awarding contracts by client to the lowest bidder, and lack of experience in contract management. Based on these findings, recommendations to the Palestinian National Authority (PNA and local contractors are presented in this paper.

  9. An application of business process method to the clinical efficiency of hospital.

    Science.gov (United States)

    Leu, Jun-Der; Huang, Yu-Tsung

    2011-06-01

    The concept of Total Quality Management (TQM) has come to be applied in healthcare over the last few years. The process management category in the Baldrige Health Care Criteria for Performance Excellence model is designed to evaluate the quality of medical services. However, a systematic approach for implementation support is necessary to achieve excellence in the healthcare business process. The Architecture of Integrated Information Systems (ARIS) is a business process architecture developed by IDS Scheer AG and has been applied in a variety of industrial application. It starts with a business strategy to identify the core and support processes, and encompasses the whole life-cycle range, from business process design to information system deployment, which is compatible with the concept of healthcare performance excellence criteria. In this research, we apply the basic ARIS framework to optimize the clinical processes of an emergency department in a mid-size hospital with 300 clinical beds while considering the characteristics of the healthcare organization. Implementation of the case is described, and 16 months of clinical data are then collected, which are used to study the performance and feasibility of the method. The experience gleaned in this case study can be used a reference for mid-size hospitals with similar business models.

  10. Comparative analysis of business rules and business process modeling languages

    Directory of Open Access Journals (Sweden)

    Audrius Rima

    2013-03-01

    Full Text Available During developing an information system is important to create clear models and choose suitable modeling languages. The article analyzes the SRML, SBVR, PRR, SWRL, OCL rules specifying language and UML, DFD, CPN, EPC and IDEF3 BPMN business process modeling language. The article presents business rules and business process modeling languages theoretical comparison. The article according to selected modeling aspects of the comparison between different business process modeling languages ​​and business rules representation languages sets. Also, it is selected the best fit of language set for three layer framework for business rule based software modeling.

  11. MODEL OF MARKETING COMMUNICATIONS EFFECTIVENESS IN THE BUSINESS-TO-BUSINESS MARKETS

    OpenAIRE

    Jerman, Damjana; Završnik, Bruno

    2012-01-01

    Much of the research into marketing communications has focused on the consumer market with little regard to date for the business-to-business market. This paper focuses on a development and testing of a model of marketing communication effectiveness in the business-to-business market. Building on past research from the marketing communications and business-to-business marketing literature, the model (which incorporates facets of the marketing communication objectives, bidirectional communicat...

  12. 75 FR 44951 - Inquiry To Learn Whether Businesses Assert Business Confidentiality Claims

    Science.gov (United States)

    2010-07-30

    ... such treatment. Certain businesses, however, do not meet the definition of ``affected business,'' and... definition of ``affected business,'' and are not covered by today's notice. They consist of any business that... Businesses Assert Business Confidentiality Claims AGENCY: Environmental Protection Agency (EPA). ACTION...

  13. 76 FR 362 - Inquiry To Learn Whether Businesses Assert Business Confidentiality Claims

    Science.gov (United States)

    2011-01-04

    ... claims for such treatment. Certain businesses, however, do not meet the definition of ``affected business.... Certain businesses, however, do not meet the definition of ``affected business,'' and are not covered by... Businesses Assert Business Confidentiality Claims AGENCY: Environmental Protection Agency (EPA). ACTION...

  14. Education Business Plan 2008-11: Ministry Business Plan

    Science.gov (United States)

    Alberta Education, 2008

    2008-01-01

    The Ministry of Education has identified one core business that is an ongoing key responsibility. It is called "Core Business One: Lead and Support the Education System So That All Students Are Successful at Learning." The core business includes three goals with specific outcomes that describe the end results the Ministry wants to…

  15. Business plan

    OpenAIRE

    Dorożyński, Tomasz; Urbaniak, Wojciech

    2016-01-01

    Running a business on an international scale requires not only a substantial body of knowledge but also the ability to apply it in practice. That is why our textbook, with a vast collection of practical examples, discusses a wide variety of pertinent issues connected with business operations in international markets, from international market analysis, drafting business plans, concluding business transactions and the insurance of goods through to customs clearance procedures and professional ...

  16. Business models of micro businesses: Empirical evidence from creative industries

    Directory of Open Access Journals (Sweden)

    Pfeifer Sanja

    2017-01-01

    Full Text Available Business model describes how a business identifies and creates value for customers and how it organizes itself to capture some of this value in a profitable manner. Previous studies of business models in creative industries have only recently identified the unresolved issues in this field of research. The main objective of this article is to analyse the structure and diversity of business models and to deduce how these components interact or change in the context of micro and small businesses in creative services such as advertising, architecture and design. The article uses a qualitative approach. Case studies and semi-structured, in-depth interviews with six owners/managers of micro businesses in Croatia provide rich data. Structural coding in data analysis has been performed manually. The qualitative analysis has indicative relevance for the assessment and comparison of business models, however, it provides insights into which components of business models seem to be consolidated and which seem to contribute to the diversity of business models in creative industries. The article contributes to the advancement of empirical evidence and conceptual constructs that might lead to more advanced methodological approaches and proposition of the core typologies or classifications of business models in creative industries. In addition, a more detailed mapping of different choices available in managing value creation, value capturing or value networking might be a valuable help for owners/managers who want to change or cross-fertilize their business models.

  17. The effectiveness of marketing communications on the business-to-business markets

    OpenAIRE

    Žabkar, Vesna; Završnik, Bruno; Jerman, Damjana

    2015-01-01

    The composition of communication mix and the integration of the different instruments vary with time and also depend on type of product market (consumer or business-to-business). This paper focuses on a development and testing of the model of marketing communication effectiveness in the business-to-business market. Building on past research from the marketing communications and business-to-business marketing literatures, the model (which incorporates concepts of the source of communication, c...

  18. Social Business Models

    Directory of Open Access Journals (Sweden)

    Maria Cristina Enache

    2015-09-01

    Full Text Available A Social Business embraces networks of people to create business value. A Social Business connects people to expertise. It enable individuals – whether customers, partners or employees – to form networks to generate new sources of innovation, foster creativity, and establish greater reach and exposure to new business opportunities. It establishes a foundational level of trust across these business networks and, thus, a willingness to openly share information. It empowers these networks with the collaborative, gaming and analytical tools needed for members to engage each other and creatively solve business challenges. A Social business strives to remove unnecessary boundaries between experts inside the company and experts in the marketplace. It embraces the tools and leadership models that support capturing knowledge and insight from many sources, allowing it to quickly sense changes in customer mood, employee sentiment or process efficiencies. It utilizes analytics and social connections inside and outside the company to solve business problems and capture new business opportunities. A Social Business leverages these social networks to speed up business, gaining real time insight to make quicker and better decisions. It gets information to customers and partners in new ways -- faster. Supported by ubiquitous access on mobile devices and new ways of connecting and working together in the Cloud and on open platforms, a Social Business turns time and location from constraints into advantages. Business is free to occur when and where it delivers the greatest value, allowing the organization to adapt quickly to the changing marketplace. We believe the most effective approach to enabling a Social Business centers around helping people discover expertise, develop social networks and capitalize on relationships.

  19. Cycling infrastructure for reducing cycling injuries in cyclists.

    Science.gov (United States)

    Mulvaney, Caroline A; Smith, Sherie; Watson, Michael C; Parkin, John; Coupland, Carol; Miller, Philip; Kendrick, Denise; McClintock, Hugh

    2015-12-10

    abstracts of papers obtained from searches to determine eligibility. Two review authors extracted data from the included trials and assessed the risk of bias. We carried out a meta-analysis using the random-effects model where at least three studies reported the same intervention and outcome. Where there were sufficient studies, as a secondary analysis we accounted for changes in cyclist exposure in the calculation of the rate ratios. We rated the quality of the evidence as 'high', 'moderate', 'low' or 'very low' according to the GRADE approach for the installation of cycle routes and networks. We identified 21 studies for inclusion in the review: 20 controlled before-after (CBA) studies and one interrupted time series (ITS) study. These evaluated a range of infrastructure including cycle lanes, advanced stop lines, use of colour, cycle tracks, cycle paths, management of the road network, speed management, cycle routes and networks, roundabout design and packages of measures. No studies reported medically-attended or self-reported injuries. There was no evidence that cycle lanes reduce the rate of cycle collisions (rate ratio 1.21, 95% CI 0.70 to 2.08). Taking into account cycle flow, there was no difference in collisions for cyclists using cycle routes and networks compared with cyclists not using cycle routes and networks (RR 0.40, 95% CI 0.15 to 1.05). There was statistically significant heterogeneity between the studies (I² = 75%, Chi² = 8.00 df = 2, P = 0.02) for the analysis adjusted for cycle flow. We judged the quality of the evidence regarding cycle routes and networks as very low and we are very uncertain about the estimate. These analyses are based on findings from CBA studies.From data presented narratively, the use of 20 mph speed restrictions in urban areas may be effective at reducing cyclist collisions. Redesigning specific parts of cycle routes that may be particularly busy or complex in terms of traffic movement may be beneficial to cyclists in terms of

  20. Business Models and Business Model Innovation

    DEFF Research Database (Denmark)

    Foss, Nicolai J.; Saebi, Tina

    2018-01-01

    While research on business models and business model innovation continue to exhibit growth, the field is still, even after more than two decades of research, characterized by a striking lack of cumulative theorizing and an opportunistic borrowing of more or less related ideas from neighbouring...

  1. THE ROLE OF BUSINESS INTELLIGENCE IN BUSINESS PERFORMANCE MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Babeanu Delia

    2009-05-01

    Full Text Available Business performance management (BPM is a key business initiative that enables companies to align strategic and operational objectives with business activities in order to fully manage performance through better informed decision making and action. Effec

  2. De cruciale rol van inkoopgedraag : CRM in business to business

    NARCIS (Netherlands)

    Santema, S.C.; Rijt, van de J.

    2002-01-01

    Oak b-to-b bedrijven gaan steeds meer relationeel in plaats van transactioneel denken. Complicerende factor voor CRM in business to business is alleen, dat bedrijven niet alleen met een verkoper maar ook met een koper te maken hebben. Hoe kan CRM in business to business het beste worden ingezet?

  3. Business Intelligence Approach In A Business Performance Context

    OpenAIRE

    Muntean, Mihaela; Cabau, Liviu Gabriel

    2011-01-01

    Subordinated to performance management, Business Intelligence approaches help firms to optimize business performance. Key performance indicators will be added to the multidimensional model grounding the performance perspectives. With respect to the Business Intelligence value chain, a theoretical approach was introduced and a practice example, based on Microsoft SQL Server specific services, for the customer perspective was implemented.

  4. Advanced business process management in networked E-business scenarios

    NARCIS (Netherlands)

    Grefen, P.W.P.J.; Türetken, O.

    2017-01-01

    In the modern economy, we see a shift towards networked business scenarios. In many contemporary situations, the operation of multiple organizations is tightly coupled in collaborative business networks. To allow this tightly coupled collaboration, business process management (BPM) in these

  5. Basic Business and Economics: Rationale for a Course in Small Business Management.

    Science.gov (United States)

    Swanson, Robert A.

    1979-01-01

    Stating that small business represents most of the nation's business but that business courses focus on corporate giants, the author presents arguments for a course in small business management. This course could prepare students for small business opportunities and provide an understanding of the nature of small business management and ownership.…

  6. Useful Business Cases

    DEFF Research Database (Denmark)

    Nielsen, Peter Axel; Persson, John Stouby

    2017-01-01

    during implementation and value creation. This article presents lessons learned from our action research, lessons that we incorporated into a business case method and subsequently evaluated with IS managers. There are three lessons on: (1) improving the content of business cases, (2) how to develop...... research study seeks to improve the usefulness of business cases in IS projects. We used collaborative action research with Danish municipalities to improve their practices when developing and using business cases and to change their perceptions of what constitutes a good business case that is useful...... business cases, and (3) the use of business cases in subsequent value creation. These lessons summarize our findings and the contributions are that we in the business case method propose to: (1) include minimal contents, (2) develop social commitment, and (3) structure for dynamic use during value creation...

  7. AREVA Technical Days (ATD) session 2: operations of the back-end of the nuclear fuel cycle; AREVA Technical Days (ATD) session 2: les activites du pole Aval du cycle du combustible nucleaire

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-07-01

    These technical days organized by the Areva Group aims to explain the group activities in a technological and economic point of view, to provide an outlook of worldwide energy trends and challenges and to present each of their businesses in a synthetic manner. This second session deals with the reprocessing business, back-end financing mechanisms, technology transfer, environmental management, risk management programs, research and development contribution to waste volume reductions, issues and outlook of nuclear wastes, comparison of the open and closed cycles. (A.L.B.)

  8. When arm's length is too far : Relationship banking over the credit cycle

    NARCIS (Netherlands)

    Beck, T.H.L.; Degryse, H.A.; de Haas, Ralph; van Horen, Neeltje

    Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two

  9. POTENTIAL OF BUSINESS

    OpenAIRE

    Julija Avakumovic, Jelena Avakumovic

    2014-01-01

    Potential of businesses is available and relevant developed business opportunities which under certain conditions can affect the results of the business. Those are certain conditions possible exposure of the company. The success of a business depends of the knowledge of these resources and the way how to find the optimum combination of scale, structure and dynamics of available resources by the management of the business.

  10. Business Mathematics for Business Education Departments in Pennsylvania's Public Schools.

    Science.gov (United States)

    Parfet, James A.

    This document is meant to be used as a teaching aid to help business teachers in Pennsylvania high schools prepare pupils to assume positions in business offices. Methods are suggested by which business mathematics may be presented to develop the greatest level of pupil achievement. The chapters outline business mathematics in the high school…

  11. Business cycles and the financial performance of fuel cell companies. Paper no. IGEC-1-074

    International Nuclear Information System (INIS)

    Henriques, I.; Sadorsky, P.

    2005-01-01

    While most business owners are likely to admit that the economic performance of the economy has some impact on their business, there has been relatively little statistical work done to measure just how sensitive the financial performance of fuel cell firms is to changes in macroeconomic activity. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between stock prices, oil prices and interest rates. Our results show the stock prices of fuel cell companies to be impacted by shocks to technology stock prices and oil prices. Technology stock price shocks have a longer lasting and greater (in terms of magnitude) impact on the stock prices of fuel cell companies then oil price shocks. These results add to a small but growing literature showing that oil price movements are not as important as once thought because investors view fuel cell companies as similar to other high technology companies. These results should be of use to investors, managers and policy makers. (author)

  12. Integrated Business Process Adaptation towards Friction-Free Business-to-Business Collaboration

    Science.gov (United States)

    Shan, Zhe

    2011-01-01

    One key issue in process-aware E-commerce collaboration is the orchestration of business processes of multiple business partners throughout a supply chain network in an automated and seamless way. Since each partner has its own internal processes with different control flow structures and message interfaces, the real challenge lies in verifying…

  13. Implementing a customer focused continual business improvement program to improve the maintenance process

    International Nuclear Information System (INIS)

    Kharshafdjian, G.; Fisher, C.; Beres, T.; Brooks, S.; Forbes, S.; Krause, M.; McAuley, K.; Wendorf, M.

    2006-01-01

    Global market pressures and increasing competition demands that successful companies establish a continual business improvement program as part of implementing its business strategy. Such programs must be driven by the definition of quality from the customer's perspective. This customer quality focus often requires a change in all aspects of the business including products, services, processes and culture. This paper will describe how Atomic Energy of Canada Limited implemented a Continual Business Improvement Program in their Nuclear Laboratories Business Unit. In particular, to review how the techniques were applied to improve the maintenance process and the status of the project. Customer (internal users of the processes at CRL) feedback has shown repeatedly there is dissatisfaction of the maintenance process. Customers complain about jobs not getting done to schedule or being deferred. A project has been launched with the following goals: to improve the maintenance process customer satisfaction and increase trades wrench time by 30 minutes / trade / day. DMAIC (Define-Measure-Analyze-Improve-Control) methodology was applied to find out the Root Cause(s) of the problem, provide solutions, and implement improvements. The expected Operational Benefits include: Executing work efficiently to quality standards and business performance of the site, improve maintenance efficiencies, reduce cycle time for maintenance process and improve process yield, and improve customer and employee satisfaction. (author)

  14. Implementing a customer focused continual business improvement program to improve the maintenance process

    Energy Technology Data Exchange (ETDEWEB)

    Kharshafdjian, G.; Fisher, C.; Beres, T.; Brooks, S.; Forbes, S.; Krause, M.; McAuley, K.; Wendorf, M. [Atomic Energy of Canada Limited, Chalk River, Ontario (Canada)

    2006-07-01

    Global market pressures and increasing competition demands that successful companies establish a continual business improvement program as part of implementing its business strategy. Such programs must be driven by the definition of quality from the customer's perspective. This customer quality focus often requires a change in all aspects of the business including products, services, processes and culture. This paper will describe how Atomic Energy of Canada Limited implemented a Continual Business Improvement Program in their Nuclear Laboratories Business Unit. In particular, to review how the techniques were applied to improve the maintenance process and the status of the project. Customer (internal users of the processes at CRL) feedback has shown repeatedly there is dissatisfaction of the maintenance process. Customers complain about jobs not getting done to schedule or being deferred. A project has been launched with the following goals: to improve the maintenance process customer satisfaction and increase trades wrench time by 30 minutes / trade / day. DMAIC (Define-Measure-Analyze-Improve-Control) methodology was applied to find out the Root Cause(s) of the problem, provide solutions, and implement improvements. The expected Operational Benefits include: Executing work efficiently to quality standards and business performance of the site, improve maintenance efficiencies, reduce cycle time for maintenance process and improve process yield, and improve customer and employee satisfaction. (author)

  15. Business plan as a source of information for making business decisions

    Directory of Open Access Journals (Sweden)

    Boškov Veronika

    2016-01-01

    Full Text Available For the successful development and business support, it is necessary to inform all interested parties about the structure of the transaction, future development plans, the resources needed for the realization, the effects which we plan to achieve and of course financial outcomes that will follow from that job. The business plan is important precondition for starting any business venture, as well as for realisation of that business. Modern business conditions are characterized by intensive changes in the market, strong competition and increasingly demanding customers. Modern business involves meticulous market research and the possibility of profitable use of capital, which is achieved through the simulation of a business plan. It could be said that a business plan is a map of activities for developing business ideas, with all the necessary activities and resources - a map that has been tested and tested/checked first on paper. The business plan does not guarantee the company success, but is definitely a secure way to increase the likelihood of success and present a set of projected activities through the relevant, understandable and accurate information. The results of these activities are appeling to all stakeholders and motivate them to achieve set goals.

  16. 78 FR 59410 - Small Business Innovation Research and Small Business Technology Transfer Programs...

    Science.gov (United States)

    2013-09-26

    ... SMALL BUSINESS ADMINISTRATION [Docket Number: 2013-0008] Small Business Innovation Research and Small Business Technology Transfer Programs Commercialization Benchmark AGENCY: Small Business... Business Administration (SBA) is reopening the comment period for the Small Business Innovation Research...

  17. 78 FR 48537 - Small Business Innovation Research and Small Business Technology Transfer Programs...

    Science.gov (United States)

    2013-08-08

    ... SMALL BUSINESS ADMINISTRATION [Docket Number: 2013-0008] Small Business Innovation Research and Small Business Technology Transfer Programs Commercialization Benchmark AGENCY: Small Business Administration. ACTION: Notice. SUMMARY: The Small Business Administration (SBA) is publishing the Small Business...

  18. A New Business Mode for FTs Chain in an E-Commerce Environment

    Directory of Open Access Journals (Sweden)

    Xihui Wang

    2014-01-01

    Full Text Available With the rise in the online demand for fashion and textiles (FTs along with the development of e-commerce, a business mode called drop-shipping mode has emerged. Despite the fact that the drop-shipping mode has many merits, this method has less earning power compared with the traditional business mode. This study proposes a mix business mode for FTs chains in an e-commerce environment. Traditional and drop-shipping modes are special cases of the mix mode. In addition, a generalized model is built to analyze the profitability of FTs chains. Our study shows that, in most cases, the mix mode improves overall profit of FTs chain. Moreover, we consider the seasonality and the short life cycle of fashion items in analyzing the relationship between the e-retailer's optimal inventory level and demand distribution parameters. The numerical example shows that, by changing their inventory level, e-retailers can address the demand fluctuation using the mix mode. The proposed mix mode employs both business modes to enhance the profitability of a FTs chain. As such, the mix mode is an effective method to address demand fluctuation for FTs in an e-commerce environment.

  19. Disrupting Business

    DEFF Research Database (Denmark)

    Cox, Geoff; Bazzichelli, Tatiana

    Disruptive Business explores some of the interconnections between art, activism and the business concept of disruptive innovation. With a backdrop of the crisis of financial capitalism, austerity cuts in the cultural sphere, the idea is to focus on potential art strategies in relation to a broken...... economy. In a perverse way, we ask whether this presents new opportunities for cultural producers to achieve more autonomy over their production process. If it is indeed possible, or desirable, what alternative business models emerge? The book is concerned broadly with business as material for reinvention...

  20. Efficient Business Service Consumption by Customization with Variability Modelling

    Directory of Open Access Journals (Sweden)

    Michael Stollberg

    2010-07-01

    Full Text Available The establishment of service orientation in industry determines the need for efficient engineering technologies that properly support the whole life cycle of service provision and consumption. A central challenge is adequate support for the efficient employment of komplex services in their individual application context. This becomes particularly important for large-scale enterprise technologies where generic services are designed for reuse in several business scenarios. In this article we complement our work regarding Service Variability Modelling presented in a previous publication. There we presented an approach for the customization of services for individual application contexts by creating simplified variants, based on model-driven variability management. That work presents our revised service variability metamodel, new features of the variability tools and an applicability study, which reveals that substantial improvements on the efficiency of standard business service consumption under both usability and economic aspects can be achieved.