Treatment and valorization plants in materials recovery supply chain

Aim of industrial symbiosis is to create synergies between industries in order to exchange resources (by-products, water and energy) through geographic proximity and collaboration [1]. By optimizing resource flows in a “whole-system approach”, a minimization of dangerous emissions and of supply needs can be achieved. Resources exchanges are established to facilitate recycling and re-use of industrial waste using a commercial vehicle. Several paths can be identified in order to establish an industrial symbiosis network (Figure 1, left), in relation (i) to the life cycle phase (raw material, component, product) and (ii) to the nature (material, water, energy) of the resource flows to be exchanged. Sometimes by-products and/or waste of an industrial process have to be treated and valorized in order to become the raw materials for others. In particular, two main treatment processes can be identified: refurbishment/upgrade for re-use (Figure 1, center) and recycling for material recovery (Figure 1, right). A brief overview of technological and economic aspects is given, together with their relevance to industrial symbiosis

Lean and green – a systematic review of the state of the art literature

The move towards greener operations and products has forced companies to seek alternatives to balance efficiency gains and environmental friendliness in their operations and products. The exploration of the sequential or simultaneous deployment of lean and green initiatives is the results of this balancing action. However, the lean-green topic is relatively new, and it lacks of a clear and structured research definition. Thus, this paper’s main contribution is the offering of a systematic review of the existing literature on lean and green, aimed at providing guidance on the topic, uncovering gaps and inconsistencies in the literature, and finding new paths for research. The paper identifies and structures, through a concept map, six main research streams that comprise both conceptual and empirical research conducted within the context of various organisational functions and industrial sectors. Important issues for future research are then suggested in the form of research questions. The paper’s aim is to also contribute by stimulating scholars to further study this area in depth, which will lead to a better understanding of the compatibility and impact on organisational performance of lean and green initiatives. It also holds important implications for industrialists, who can develop a deeper and richer knowledge on lean and green to help them formulate more effective strategies for their deployment

New Directions in Compensation Research: Synergies, Risk, and Survival

We describe and use two theoretical frameworks, the resource-based view of the firm and institutional theory, as lenses for examining three promising areas of compensation research. First, we examine the nature of the relationship between pay and effectiveness. Does pay typically have a main effect or, instead, does the relationship depend on other human resource activities and organization characteristics? If the latter is true, then there are synergies between pay and these other factors and thus, conclusions drawn from main effects models may be misleading. Second, we discuss a relatively neglected issue in pay research, the concept of risk as it applies to investments in pay programs. Although firms and researchers tend to focus on expected returns from compensation interventions, analysis of the risk, or variability, associated with these returns may be essential for effective decision-making. Finally ,pay program survival, which has been virtually ignored in systematic pay research, is investigated. Survival appears to have important consequences for estimating pay plan risk and returns, and is also integral to the discussion of pay synergies. Based upon our two theoretical frameworks, we suggest specific research directions for pay program synergies, risk, and survival

Performance Implications of Diversification in Professional Service Firms: The Role of Synergies

There is growing interest in the Professional service firms because they are seen as archetype of the knowledge-based economy. In this study we look at under researched area of exploitation of synergies in professional service firms and its implications for performance. Overcoming the uni-dimensional nature of extant studies, we examine the performance implications of diversification along the twin dimensions of services they offer and the knowledge of the industry domain of their clients. We hypothesize that moderate levels of coherence in these dimensions lead to improved performance while excess coherence in these domains lead to diminished performance. These predictions are tested and supported by data from the Indian IT industry which is synonymous with emergence of knowledge economy in India. Our study thus contributes to the theory of diversification of professional service firms.

Rating and ranking firms with fuzzy expert systems: the case of Camuzzi

In this paper we present a real-life application of a fuzzy expert system aimed at rating and ranking firms. Unlike standard DCF models, it integrates financial, strategic and business determinants and processes both quantitative and qualitative variables. Twenty-one value drivers are defined, concerning the target firm (strategic assets in place and expected financial performance), the acquisition (synergies, quality of management) and the sector (intensity of competition, entry barriers). Their combination via “if-then” rules leads to the definition of an output represented by a real number in the interval [0,1]. Such a number expresses the value-generating power of the target firm inclusive of synergies with the bidder (Strategic Enterprise Value). The system may be used for rating and ranking firms operating in the same sector. A regression analysis using hostile takeovers multiples may be employed to translate the score into price. The real-life case refers to Camuzzi (a natural gas distributor), acquired by Enel, the Italian ex monopolist of electric energy.Corporate finance, firm, rating, ranking, expert system, fuzzy, evaluation

Rating and ranking firms with fuzzy expert systems: the case of Camuzzi

In this paper we present a real-life application of a fuzzy expert system aimed at rating and ranking firms. Unlike standard DCF models, it integrates financial, strategic and business determinants and processes both quantitative and qualitative variables. Twenty-one value drivers are defined, concerning the target firm (strategic assets in place and expected financial performance), the acquisition (synergies, quality of management) and the sector (intensity of competition, entry barriers). Their combination via “if-then” rules leads to the definition of an output represented by a real number in the interval [0,1]. Such a number expresses the valuegenerating power of the target firm inclusive of synergies with the bidder (Strategic Enterprise Value). The system may be used for rating and ranking firms operating in the same sector. A regression analysis using hostile takeovers multiples may be employed to translate the score into price. The real-life case refers to Camuzzi (a natural gas distributor), acquired by Enel, the Italian ex monopolist of electric energy.Corporate finance, firm, rating, ranking, expert system, fuzzy logic, evaluation

How innovative are UK firms? Evidence from the Fourth UK Community Innovation Survey on synergies between technological and organizational innovations

Using data from the Fourth UK Community Innovation Survey this paper explores the diffusion of a range of innovative activities (encompassing process, product, machinery, marketing, organization, management and strategic innovations) across 16,383 British companies in 2004. Building upon a simple theoretical model it is shown that the use of each innovation is correlated with the use of all other innovations. It is shown that the range of innovations can be summarized by two multi-innovation factors, labelled here `organizational' and `technological', that are complements but not substitutes for each other. Three clusters of firms are identified where intensity of use of the two sets of innovations is below average (56.9% of the sample); intermediate but above average (23.7%); and highly above average (19.4%). Distinctive characteristics are found to be common to the companies in each cluster. Finally, it is shown that innovativeness tends to persist over time

Priority Directions of the Regional Food Complex Effectiveness Increase

In the article, the modern trends of management integration as a solution of food and sectoral problems are considered. On the basis of national and foreign experience of development of integration, the classification of integration in economic systems is developed. Based on the given classification, the concept of integration is conducted. In the article, much attention is given to the food problem solution, which depends more on the agro-industrial complex based on metaintegration. The leading place of a food complex in the system of agro-industrial complex is caused by a role of food and food raw materials in life of the population of the country. The ratio of the sectors participating in the food production and consumer goods makes the sectoral structure of agro-industrial complex. In the conditions of the resource limitation necessary for the production and food delivery to the domestic market, the role of trade will increase not only in agro-industrial complex, but in all national economy. Also, in this article, the phenomenon of clusters is studied. The attention to clusters as to innovation systems reflects a rising tide of interest of economic science to the questions of economics functioning in regional level and understanding of a role of specific local resources in stimulation of innovative opportunities and competitiveness of small and medium business. Creating a cluster, participants develop the spatial and organizational integrated structure, in interaction of legal entities the status is saved and cooperation provides competitive advantages with other business entities. The role of the state in integration of cluster formations in the Russian Federation is more significant, than in any other country. The state represented by regional authorities actively participates in decision-making process by the business located in its catchment area not only through membership in governing bodies of large joint stock companies

The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation.

This paper presents an expert system aimed at evaluating firms and business units. It makes use of fuzzy logic and integrates financial, strategic, managerial aspects, processing both quantitative and qualitative information. Twenty-nine value drivers are explicitly taken into account and combined together via “if-then” rules to produce an output. The output is a real number in the interval [0,1], representing the value-creation power of the firm. The system may be used for rating, ranking and pricing firms as well as for assessing the impact of managers’ decisions on value creation and as a tool of corporate governance.Firm valuation, fuzzy logic, expert system, acquisition, rating, pricing