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This paper describes a dynamic model of the New Product Development (NPD) process. The model has been occurring from best practice noticed in our research conducted at a range of situations. The model contributes to determine and put an IT company's NPD activities into the frame of the overall NPD process[1]. It has been found to be a useful tool f...
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... multitude of allied NPD models have been planed over the years. The best known is the Booz, Allen and Hamilton (1982) model, shown in Figure 1, also known as the BAH model [12], which set the standards for most other NPD models that have been developed. This widely used model appears to enclose all of the realizable stages of models that have been developed. ...
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This is a doctoral dissertation which resulted from a research done with a group of 10 small Mexican companies. The goal of the research was to study and analyze how these companies were applying the best practices of marketing strategy. The study includes a selection of best practices of marketing strategy that are measurable and allow a researche...
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... Future research could generate consensus around this issue among different business sectors. However, other scientists with similar cases are studying similar problems, using modeling and simulation [38][39][40][41]. ...
This chapter aims to highlight the importance of combining risk and business continuity standardized management systems in the supply chain. For this purpose, a case study is presented of a Greek company active in logistics and dealing with the sale and distribution of medical devices. The company has been certified according to ISO 22301 standard for business continuity and at the same time implements the ISO 31000 standard for risk management. Specifically, this chapter presents how the combined implementation of the standards mentioned above helped the company successfully handle the two most significant crises in the modern history of Greek companies (i.e., the imposition of capital controls and the COVID-19 pandemic). The findings of this chapter show that although these two crises could not have been predicted in time, the existing business continuity plan—previously developed as a result of business impact analysis and risk assessment—helped the company survive and come out more robust in the face of competition.
... Mindfulness is directly related to the development of a useful generation of new ideas (Baas, Nevicka & Ten Velden [10]. According to Nasiopoulos, Sakas, Vlachos, and Mavrogianni, [91], employees' innovative and useful ideas for the project are proven to be beneficial toward achieving organisational goals (i.e., project success). Moreover, mindfulness authorises an individual to ignore the negative aspects of a certain event because mindfulness supports employees and unlocks their counterproductivity and ruminative attention [131]. ...
This study investigates the relationship between project employee mindfulness and project success using innovative work behaviour as a mediator and the project manager’s inclusive leadership style as a moderator. Project Manager with high inclusive behaviour will strengthen the relationship of employee’s mindfulness and innovative work behaviour. The data were collected in three-time intervals from a total of 347 information technology project employees. The study findings validated the proposed model wherein employee personality traits, such as mindfulness, have a key impact on the initiation of project employees’ innovative work behaviour. Information Technology projects require innovation due to rapid technical improvements. The study confirms that innovative work behaviour adds to the project’s success. Furthermore, inclusive leadership helps mindful employees become innovative. Thus, the leadership roles should also be emphasised in IT projects.
... Customer communities also show high potential as drivers of value co-creation and collaborative innovation in the current networking era. Some companies have proposed the idea of collective investment or customer participation (Nasiopoulos et al. 2015b). ...
... As customers are part of a larger environment, that is, society, the conditions of the business environment also affect the customer sector. Government policies, laws, information, and incentives, along with the policies and actions of competitors or organisations, affect customer information, awareness, and decisions (Nasiopoulos et al. 2015b). ...
Business systems are a subclass of dynamic, complex systems; the plurality of multifarious and interwoven factors affecting a business system makes prediction, modeling, and decision-making challenging for the players in such systems. This study conceptualises dynamic business modeling from a sustainability viewpoint by investigating the basic principles, requirements, and methodological limitations, as well as gaps in the business model design literature. This conceptual model combines an adapted business model canvas and system dynamics modeling using an up-to-date review. The studies used in this systematic review were retrieved from the Scopus and Web of Science databases between 2010 and 2021. The total number of publications in all databases was 422. However, following an in-depth investigation of these publications, 164 papers were selected for further review. Based on the business model canvas, the interactions between different business dimensions and the impact on environmental stakeholders were examined. Finally, a dynamic, sustainable business model canvas is conceptualised and developed. The findings suggest that the proposed system dynamics business modeling approach can frame the environmental, social, and economic drivers of value creation in a causal feedback structure and overcome the gaps and criticisms of existing business model design tools.
... Administrative science is often viewed with a strategic perspective, and the effort to find best practices we look for in computational models (Dimitrios et al. 2014a, b;Dimitrios et al. 2015b;Dimitrios et al. 2017b) where, with the subscription of Simulation modeling (Dimitrios et al. 2013;2014c;Sakas et al. 2014), we foresee their evolution. ...
The present paper focuses on the Greek knowledge-based firms. Assuming that Knowledge-Based Entrepreneurship (KBE) is a high-potential entrepreneurship, we study different factors which shape this type of entrepreneurship as it may represent a new source of development for the Greek economy. We are interested in the educational attainment of founders and employees, the main areas of expertise of founders, and the factors influencing the creation of new ventures. We also explore the sources of knowledge for the exploration of new business opportunities and the importance of networking in different firm operations. Therefore, this research focuses on both the founder and the founding team as well as on the overall operations of the firms. Analysis is based on a structured questionnaire circulated to a representative sample of new firms that have been established between 2000 and 2010 and belong to various high-technology sectors. The examined sectors have been classified into three groups: (1) high-technology manufacturing, (2) medium-high-technology manufacturing, and (3) high-technology knowledge-intensive services. To understand the exploitation differences on sources of knowledge and the networking among the founders, depending on their educational background, we performed analysis of variance. Finally, we explore how these characteristics affect the performance of firms which in turn can generate economic growth, especially in the crisis period. Regarding the KBE perspective in exploring innovativeness and growth of newly established Greek firms, we derive useful conclusions for both the management of firms as well as for the public policies to promote innovation and entrepreneurship in general.
... Addressing this challenge, some studies have proposed various risk management techniques and frameworks (see for example Aloini et al. 2012;Dey et al. 2012), although much additional work needs to be done at a more practical level (Chountalas and Tepaskoualos 2019). Administrative science is often viewed with a strategic perspective, and the effort to find best practices we look for in computational models (Nasiopoulos et al. 2014a(Nasiopoulos et al. , b, 2015a(Nasiopoulos et al. , b, 2017 where, with the subscription of Simulation modeling (Nasiopoulos et al. 2013(Nasiopoulos et al. , 2015bSakas et al. 2014), we foresee their evolution. ...
Business Process Reengineering (BPR) is the radical transformation of an organization’s structure, culture, and business processes aiming at the improvement of factors such as cost, quality, service, and speed, which questions the core of an organization’s way to do everyday business. Enterprise Resource Planning (ERP) implementation is also a process that causes turbulences even on a well-structured and effectively organized corporation. Business history is full of examples of failure in BPR projects and ERP implementation. Therefore, the combination of two high-risk processes applied simultaneously on an organization—especially when it is characterized by lack of human resources, absence of documented work flows, obsolete ICT infrastructure, and negative corporate culture—makes the adoption of a risk management approach from the initial stages of the project indispensable. The purpose of this paper is to present such a case of a public sector organization so as to highlight the importance of critical success and failure factors for ERP-led BPR projects. The results show that organizational culture, top management commitment, use of information technology, organizational structure, and the ability to incorporate change management are fundamental factors that can contribute to successful BPR/ERP implementation. On the other hand, the resistance to change was found to be the most dominant critical failure factor.
... Outputs can be displayed in the form of graphs and tables. Dynamic simulation model techniques were used to create this model [11]. ...
Social networks are now a crucial part of today's way of life. Academic conferences is another chapter, that give people the opportunity to explore new ideas and share them with the scientific world. Blending those two factors together in order to achieve a main purpose, could give a remarkable effect. The purpose of this paper is to analyze the promotion process of academic conferences through social media and use simulation models to modelize that analysis. The reason the paper was created, is to provide this optimal solution to all those seeking how to promote academic conferences effectively through social media. Thorough research through the paper revealed that social media, nowadays used by millions and millions of users can be successfully used to promote academic papers and with great appeal.
... A converter can keep values stable or serve as an external input to the model or convert inflows into outflows through user-defined algebraic or graphical functions [20] V. IDENTIFICATION AND EXPLANATION OF THE ...
Economy is the basis of today's technological wonders [1]. Businesses are the mainspring of economy, its source. Economy and businesses are interdependent. In order for the businesses to increase their profit, specific marketing techniques are used [2]. Taking it deeper, small businesses are the ones directly linked to the bigger ones [3]. Imagine blending dominant marketing techniques used in major companies with small businesses creating something remarkable. The purpose of this paper is to analyze the impact of dominant marketing techniques in small businesses and use simulation models to modelize that analysis. The reason this paper was created, is to provide this optimal solution to all those seeking how to increase their business's profit effectively through sovereign marketing techniques. Thorough research through the paper revealed that specific marketing techniques, can be successfully used to tremendously increase a small businesses profit, efficaciously.
Transformer is a deep learning model that, having an innovative performance in many tasks, has uniquely and significantly modified all the cast of mind of the AI scientific community. In this paper, we introduce a Transformer model that is applied to 1-minute timescale in the EURUSD and GBPUSD instruments of forex trading. We use the classical Transformer architecture without the Decoder since the Encoder is enough. Moreover, the Exponential Moving Average (EMA) model is applied to the input, while different values of its smoothing factor α are tested. With cross-entropy training loss less than 0.2, it is exclamatory that Transformers are a promising tool for lucrative strategies in high-frequency trading.
State estimation (SE) is an algorithmic function of an energy management system (EMS). SE provides an actual-time monitoring and control of modern electrical power grids. State Estimation can be worked with sufficiency using Phasor Measurement Units optimally placed within a power grid. This paper concerns the implementation of proper algorithms embedded in optimization solvers to the optimal PMU localization problem solving globally. The optimization model is formulated as a 0 - 1 nonlinear minimization problem. The problem is transformed to a polyhedron using linearization methods and B&B tree. In this model, we use a linear cost function under polynomial constraints and binary restrictions on the design variables in a symbolic format. This mathematical model is programmed in the YALMIP environment which is fully compatible with MATLAB. The 0 - 1 Nonlinear Programming (NLP) model is suitable for getting concisely global optimal solutions. The optimal solution is given by a wrapped optimization engine including a local optimizer routine performing together with a mixed-Integer-Linear Programming routine. The solution is achieved within a zero-gap precisely encountered during the iterative process. This tolerance criterion is a necessity for a successful implementation of the B&B tree because it ensures global optimality with an acceptance relative gap. The minimization model is implemented in a YALMIP code fully compatible with MATLAB in two stages. Initially, an objective function with one term is minimized to discover a number of sensors for wide-area monitoring, control and state estimator applications. Then, an extra product is considered in the objective to suffice maximum reliability for observing the network buses. The numerical minimization models are applied to standard power networks in the direction to be solved globally.
