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The impacts of internal quality management relations on the triple bottom line: A dynamic capability perspective
No full textThis paper takes the dynamic capability (DC) theory as a theoretical perspective to investigate empirically the role of the internal dimensional view of quality management (QM) relations (management and employee) in driving sustainability performance, specifically social, environmental and economic dimensions. Data was collected from 226 UK manufacturing firms, and the relationships were empirically tested using structural equation modelling (SEM). The results show that internal management relation contributes to supporting employee relations and quality training. However, it is indirectly related to sustainability performance. In addition, management relations are indirectly connected with sustainability performance through employee relations. This study is relevant to academics and practitioners as it focuses on significant QM relations that are beneficial for the triple bottom line (TBL) of firms. As firms adopt QM relations to sustain their competitive advantage and achieve operational performance, it is crucial to identify which internal quality management relations associated with social, environmental and economic sustainability performance dimensions exert an influence
No Evidence for Loss Aversion Disappearance and Reversal in
No full textLoss aversion-the idea that losses loom larger than equivalent gains-is one of the most important ideas in Behavioral Economics. In an influential article published in the Journal of Experimental Psychology: General, Walasek and Stewart (2015) test an implication of decision by sampling theory: Loss aversion can disappear, and even reverse, depending on the distribution of gains and losses people have encountered. In this article, we show that the pattern of results reported in Walasek and Stewart (2015) should not be taken as evidence that loss aversion can disappear and reverse, or that decision by sampling is the origin of loss aversion. It emerges because the estimates of loss aversion are computed on different lotteries in different conditions. In other words, the experimental paradigm violates measurement invariance, and is invalid. We show that analyzing only the subset of lotteries that are common across conditions eliminates the pattern of results. We note that other recently published articles use similar experimental designs, and we discuss general implications for empirical examinations of utility functions. (PsycInfo Database Record (c) 2022 APA, all rights reserved)
Strategic behaviour in flexibility markets: New games and sequencing options
No full textDistribution system operators are expected to procure flexibility when it is cheaper than expanding their distribution grid. How to integrate these flexibility markets in the existing sequence of electricity markets is an important open issue in the evolution of electricity markets in Europe. In this paper, we investigate four market sequencing options: (1) the nodal wholesale market that includes network constraints(WNC); (2) the zonal wholesale market without network constraints followed by an integrated redispatch market to remedy the network congestion at transmission and distribution level created by the wholesale market in a coordinated way (WIR); (3) the zonal wholesale market followed by separate flexibility, redispatch and balancing markets in that order, which implies that congestion at distribution level is treated before congestion at transmission level (WFRB); and (4) the zonal wholesale market followed by separate redispatch, flexibility and balancing markets in that alternative order, which implies that congestion at transmission level is managed before congestion at distribution level (WRFB). We analyse how changing the market sequence can impact the strategic behaviour of flexibility providers, here represented by a Balancing responsible Party (BRP). We introduce a bi-level model in which the strategic BRP in the upper level acts as a first mover that anticipatesthe effect of its offers on the market outcome of the lower-level optimization problems. In analogy with the inc-dec game triggered by redispatch markets, we find that flexibility markets can trigger new games. These games will be difficult to detect by regulators as they can be performed by relatively small players. We observe that the WNC market design clearly outperforms the other sequencing options, but there is no clear second best among the alternatives WIR, WFRB, and WRFB
Addressable ads are shaping the future of TV Marketing. Combining the benefits of digital advertising with the power of the big screen
No full textCombining the benefits of digital advertising with the power of the big screen With the rise of digital media and big data, the media landscape has gone through turbulent times. Technology is developing more rapidly than ever, and we are now able to collect and process data in volumes and formats that we never could before. Digital companies were the first to jump on this train of technological revolution and are now harnessing the power of data. Where the TV landscape had barely changed during the past decades, it is now feeling the heat of digitisation. Digital channels are offering interesting alternatives to linear TV in terms of content and experience, and digital advertising has been growing exponentially during the last decade. In turn, TV has reacted with digital initiatives of its own, blurring the distinction between traditional media and digital media. Nonetheless, there is still a long road ahead before they get to par with the tech giants and truly adopt a technology- and data-driven way of working. It is safe to say that digitisation has shaken the entire TV ecosystem to its foundations. Various factors are threatening the comfortable position that TV advertising has been in for the last few decades. Both consumers and marketers are changing their behaviour and expectations, and digital advertising is taking advantage of this new vacuum by answering their needs. When looking for opportunities to try and combat the dominance of big tech, ‘addressable advertising’ might be the answer. This innovative advertising technique on TV brings together the benefits of TV advertising and those of digital advertising. Combining the best of both worlds, addressable advertising makes it possible to target specific households via their set top box with TV ads, whilst at the same time offering opportunities to improve campaign measurement. However, there are still some challenges ahead such as scale, standardisation, cost and general inertia. And as addressable advertising is highly data-driven, this advertising technique is also closely linked to the challenging topic of privacy and ethics. In order to get access to data, companies will have to give their customers enough value in return for their data
Marketing
No full textLe paysage concurrentiel et les économies volatiles qui marquent le monde moderne signifient qu’il n’y a pas moyen de contourner la nécessité de gérer les clients de manière rentable à long terme. Il s’agit d’une question plus pressante que jamais. Les données sont facilement accessibles, à tel point que les entreprises sont souvent dépassées et manquent de compétences en interne pour faire face à cette explosion d’informations. De nouvelles tendances, telles que l’essor des médias sociaux et des applications, se développent alors pour créer de nouveaux défis de marketing relationnel pour les entreprises.Ce chapitre présente le marketing relationnel et expose les principaux facteurs qui influencent les approches relationnelles dans les entreprises. Il présente également une stratégie de gestion centrée sur le client et montre comment l’évolution du marketing relationnel rend possible une nouvelle compréhension du consommateur. Nous verrons ensuite comment le marketing relationnel et les principes de centralité du client façonnent les processus relationnels entre consommateurs et entreprises, depuis leur acquisition et intégration, en passant par la fidélisation et la formation des clients, jusqu’à leur récupération et la fin de la relation.Objectifs
Considérer le marketing relationnel comme une source importante d’avantages concurrentiels durables pour les entreprises, avec une pertinence croissante dans le monde d’aujourd’hui.
Définir le marketing relationnel et la gestion stratégique de la relation client et identifier les différences conceptuelles entre le marketing relationnel et d’autres stratégies
Generalized Multi-Scale Stochastic Reservoir Opportunity Index for enhanced well placement optimization under uncertainty in green and brownfields
Get PDFWell placement planning is one of the challenging issues in any field development plan. Reservoir engineers always confront the problem that which point of the field should be drilled to achieve the highest recovery factor and/or maximum sweep efficiency. In this paper, we use Reservoir Opportunity Index (ROI) as a spatial measure of productivity potential for greenfields, which hybridizes the reservoir static properties, and for brownfields, ROI is replaced by Dynamic Measure (DM), which takes into account the current dynamic properties in addition to static properties. The purpose of using these criteria is to diminish the search region of optimization algorithms and as a consequence, reduce the computational time and cost of optimization, which are the main challenges in well placement optimization problems. However, considering the significant subsurface uncertainty, a probabilistic definition of ROI (SROI) or DM (SDM) is needed, since there exists an infinite number of possible distribution maps of static and/or dynamic properties. To build SROI or SDM maps, the
k
-means clustering technique is used to extract a limited number of characteristic realizations that can reasonably span the uncertainties. In addition, to determine the optimum number of clustered realizations, Higher-Order Singular Value Decomposition (HOSVD) method is applied which can also compress the data for large models in a lower-dimensional space. Additionally, we introduce the multiscale spatial density of ROI or DM (D
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ROI and D
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DM), which can distinguish between regions of high SROI (or SDM) in arbitrary neighborhood windows from the local SROI (or SDM) maxima with low values in the vicinity. Generally, we develop and implement a new systematic approach for well placement optimization for both green and brownfields on a synthetic reservoir model. This approach relies on the utilization of multi-scale maps of SROI and SDM to improve the initial guess for optimization algorithm. Narrowing down the search region for optimization algorithm can substantially speed up the convergence and hence the computational cost would be reduced by a factor of 4
Making the TEN-E regulation compatible with the Green Deal: Eligibility, selection, and cost allocation for PCIs
No full textThe European Green Deal calls for a revision of the Regulation on guidelines for trans-European energy infrastructure (TEN-E Regulation). The focus of the TEN-E Regulation was on accelerating the development of strategically important projects linking energy networks across the EU, labelled as Projects of Common Interest (PCIs). We provide seven recommendations on how to revise the Regulation to align it with the new full decarbonisation objective. We split the analysis in three parts: the eligibility, selection and cost allocation of PCIs. Regarding eligibility, first, oil networks should be excluded, while the case of gas networks is debatable. Second, power-to-X technologies, electric charging infrastructure and (smart) gas distribution grids could be added to the scope. Regarding selection, first, the Ten-Year Network Development Plan (TYDNP) should be integrated over all energy vectors using an open-source model. Second and third, the scenarios used in the TYNDPs should be subject to the European Commission's approval, while the approval decision for cost-benefit analysis methodologies should be reallocated from the Commission to ACER. Finally, regarding cost allocation, first, cross-border cost allocation decisions should leave all involved jurisdictions with similar benefit-to-cost ratios to increase commitment. Second, affordability should be the only award criterion for European funding
2021 IEEE PES INNOVATIVE SMART GRID TECHNOLOGIES - ASIA (ISGT ASIA)
No full textThe low-carbon energy transition depends on adopting renewable energy technologies and requires affected industries to adopt best practices for optimized performance, reliable and sustainable operations. Consequently, the legacy energy distribution system faces many challenges in supporting grid stability, reliability, efficiency, and security under this transition setting. Herein, we adopt a quantitative text analysis of 310 articles complemented by a qualitative review to identify how and to what extent the fourth industrial revolution reflects in the energy distribution system. To this end, we map the literature for the technological innovations that support condition-based maintenance of electricity distribution grid under the Industry 4.0 principles. We emphasize how physical asset management enabled by the Industry 4.0 principles, i.e., interconnection, information transparency, automation, decentralized decisions and sustainability, can become a source of competitive advantage for utilities. This study helps place the physical assets portfolio at the core of strategic decisions aimed at attaining a more sustainable state, operational excellence, and economic prosperity