Pub Date : 2019-06-13DOI: 10.11648/J.AJOMIS.20190402.11
Fang Zhao
Nowadays, the development of a third-party service (Express industry) and a third-party payment (Alipay) are very fast in online shopping. Despite there are many technologies to detect control flow errors in business process, the soundness verification in data flow is very hard. To support the design of a workflow, we usually consider the correct control flow structure. However, information about data flow should also be ensured correct. The operation of the system may suffer some external attacks, which makes the task change the read and write operations, which result in changing of control flow structure which would lead to the emergence of unusual system. As a result, our approach provides a new technology to analysis the correctness of sound free-choice Petri net with data (SCDN). With the strong concealment of this attack, the system may suffer false-negative data flow errors (FNE), which would bring some loses to the participants. On the basis of behavioral profiles (BP), redundant data flow errors (RDE) and missing data flow errors (MDE), we provide the theory of FNE to demonstrate the stability, effectiveness and adaptation of our detection methods. Finally, a real E-commerce business system is used to illustrate the practicability of the method provided in this paper.
{"title":"Detecting FNE in Sound Free-choice Petri Net with Data","authors":"Fang Zhao","doi":"10.11648/J.AJOMIS.20190402.11","DOIUrl":"https://doi.org/10.11648/J.AJOMIS.20190402.11","url":null,"abstract":"Nowadays, the development of a third-party service (Express industry) and a third-party payment (Alipay) are very fast in online shopping. Despite there are many technologies to detect control flow errors in business process, the soundness verification in data flow is very hard. To support the design of a workflow, we usually consider the correct control flow structure. However, information about data flow should also be ensured correct. The operation of the system may suffer some external attacks, which makes the task change the read and write operations, which result in changing of control flow structure which would lead to the emergence of unusual system. As a result, our approach provides a new technology to analysis the correctness of sound free-choice Petri net with data (SCDN). With the strong concealment of this attack, the system may suffer false-negative data flow errors (FNE), which would bring some loses to the participants. On the basis of behavioral profiles (BP), redundant data flow errors (RDE) and missing data flow errors (MDE), we provide the theory of FNE to demonstrate the stability, effectiveness and adaptation of our detection methods. Finally, a real E-commerce business system is used to illustrate the practicability of the method provided in this paper.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127717288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-26DOI: 10.11648/J.AJOMIS.20190401.13
Jianhong Yu, J. Shang, Wen-Chyuan Chiang
The synchronization and coordination of material flows is a key element in the supply chain management. To analyze the effects of coordinated replenishment for components, we consider an assembly system with two component-suppliers, one supply-hub and one manufacturer, under stochastic final product demand. We propose three different strategies: (i) the decentralized replenishment, (ii) the coordinated replenishment without coordinated quantity, and (iii) the coordinated replenishment policy with coordinated quantity for infinite planning horizon. We propose optimal decisions for all strategies. Results show that policy (ii) is always better than policy (i). We further identify the conditions under which the third strategy outperforms the other two. Policy (iii) is better on cost saving and service level, only when it satisfies certain conditions. Numerical studies are conducted to validate the model and to derive managerial implications.
{"title":"Coordinated Replenishment Policy in an Assembly System Based on Supply-Hub","authors":"Jianhong Yu, J. Shang, Wen-Chyuan Chiang","doi":"10.11648/J.AJOMIS.20190401.13","DOIUrl":"https://doi.org/10.11648/J.AJOMIS.20190401.13","url":null,"abstract":"The synchronization and coordination of material flows is a key element in the supply chain management. To analyze the effects of coordinated replenishment for components, we consider an assembly system with two component-suppliers, one supply-hub and one manufacturer, under stochastic final product demand. We propose three different strategies: (i) the decentralized replenishment, (ii) the coordinated replenishment without coordinated quantity, and (iii) the coordinated replenishment policy with coordinated quantity for infinite planning horizon. We propose optimal decisions for all strategies. Results show that policy (ii) is always better than policy (i). We further identify the conditions under which the third strategy outperforms the other two. Policy (iii) is better on cost saving and service level, only when it satisfies certain conditions. Numerical studies are conducted to validate the model and to derive managerial implications.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114853743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-18DOI: 10.11648/J.AJOMIS.20190401.12
Yu Qi, Yongtai Luo
(I) Brief problem description: With technology developing, many series products which have several generations appear in one market. The sales of new and old generations of a product in one market influences each other. (II) The study aim: In order to help the supply chain to obtain more benefits, this paper makes a study on the exiting of old generation products. (III) Method: Based on Fisher model and multi-generation product diffusion model, this paper establishes an optimal decision-making model for the exiting time of old generation product, and analyzes the relationship between the optimal exiting time of the old generation product and the technical level of the new generation product. (IV) Result and conclusion: Observations from this study include (1) when the profit of the new generation product sold only and that of the two generations sold simultaneously are the same, it is the optimal time for old generation product to exit market, and (2) the higher the technical level of new generation product is, the earlier old generation product will exit from market, and the more profit supply chain will get. (V) Significance: The research result will help some company make optimal decision-making for the exiting time of old generation product, and get more profit.
{"title":"An Optimal Exiting Time for Old Generation Product in Supply Chain","authors":"Yu Qi, Yongtai Luo","doi":"10.11648/J.AJOMIS.20190401.12","DOIUrl":"https://doi.org/10.11648/J.AJOMIS.20190401.12","url":null,"abstract":"(I) Brief problem description: With technology developing, many series products which have several generations appear in one market. The sales of new and old generations of a product in one market influences each other. (II) The study aim: In order to help the supply chain to obtain more benefits, this paper makes a study on the exiting of old generation products. (III) Method: Based on Fisher model and multi-generation product diffusion model, this paper establishes an optimal decision-making model for the exiting time of old generation product, and analyzes the relationship between the optimal exiting time of the old generation product and the technical level of the new generation product. (IV) Result and conclusion: Observations from this study include (1) when the profit of the new generation product sold only and that of the two generations sold simultaneously are the same, it is the optimal time for old generation product to exit market, and (2) the higher the technical level of new generation product is, the earlier old generation product will exit from market, and the more profit supply chain will get. (V) Significance: The research result will help some company make optimal decision-making for the exiting time of old generation product, and get more profit.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"7 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114013764","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-01DOI: 10.11648/j.ajomis.20190401.11
Assaf Avrahami, Evgeni Korchatov
One of the key elements in supplay cahin management is accurate information. Decision makers are aware of inaccuracies in inventory levels and, therefore, routinely conduct inventory reviews to correct the discrepancies between IT records and actual inventory. Several studies have investigated error sources and the cumulative effect of errors on holding costs, shortage costs, order-up-to levels and time between inventory counts. In most works, the errors were independent of the demand, which is neither realistic nor accurate. Here we use familiar inventory errors and information scenarios already proposed in several previous papers. We offer a model that considers the correlation between inventory errors and demand. The effect of the relationship between the random variables is tested in the context of several different scenarios. Each scenario contains a different level of information about the underlying demand and inventory errors. We then analyze the effect of changes of the covariance on the cost and time between inventory counts in each scenario. Using these results we formulate the value of information and its dependence on the covariance. We use analytical methods to draw conclusions regarding single parameter set cases and a numerical full factorial study for average multiparameter cases. In both settings, we show that the value of information decreases as the covariance increases. Moreover, the reduction is more significant when the information scenario makes less assumptions. The same behavior is observed in stock review frequency. As covariance increases, the optimal number of periods between inventory reviews drops sharply. Finally, we propose several simple methods for proactive error correction. We show that without prior knowledge, these methods perform better than the basic information scenario. Using these results we are able to formulate recommendations for businesses with different profiles of correlation between demand, and demand and errors, e.g., automated warehouses with weak correlation compared to grocery stores.
{"title":"The Value of Inventory Accuracy in Supply Chain Management: Correlation Between Error Sources and Proactive Error Correction","authors":"Assaf Avrahami, Evgeni Korchatov","doi":"10.11648/j.ajomis.20190401.11","DOIUrl":"https://doi.org/10.11648/j.ajomis.20190401.11","url":null,"abstract":"One of the key elements in supplay cahin management is accurate information. Decision makers are aware of inaccuracies in inventory levels and, therefore, routinely conduct inventory reviews to correct the discrepancies between IT records and actual inventory. Several studies have investigated error sources and the cumulative effect of errors on holding costs, shortage costs, order-up-to levels and time between inventory counts. In most works, the errors were independent of the demand, which is neither realistic nor accurate. Here we use familiar inventory errors and information scenarios already proposed in several previous papers. We offer a model that considers the correlation between inventory errors and demand. The effect of the relationship between the random variables is tested in the context of several different scenarios. Each scenario contains a different level of information about the underlying demand and inventory errors. We then analyze the effect of changes of the covariance on the cost and time between inventory counts in each scenario. Using these results we formulate the value of information and its dependence on the covariance. We use analytical methods to draw conclusions regarding single parameter set cases and a numerical full factorial study for average multiparameter cases. In both settings, we show that the value of information decreases as the covariance increases. Moreover, the reduction is more significant when the information scenario makes less assumptions. The same behavior is observed in stock review frequency. As covariance increases, the optimal number of periods between inventory reviews drops sharply. Finally, we propose several simple methods for proactive error correction. We show that without prior knowledge, these methods perform better than the basic information scenario. Using these results we are able to formulate recommendations for businesses with different profiles of correlation between demand, and demand and errors, e.g., automated warehouses with weak correlation compared to grocery stores.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123146575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-03-20DOI: 10.11648/J.AJOMIS.20180301.12
Wilson Nwankwo
Student advising services are often regarded as the mainstream vehicle for promoting relationships, understanding, and performance in academic institutions especially at the tertiary level. However, it is often fraught with challenges in developing countries in respect of insufficient supporting manpower and attendant high cost of running effective services. In institutions where the services exist, not all students benefit from it as a result of some factors such as: the sub-optimal performance of the advising personnel; negative psychological complex in students arising from unusual egocentrism (especially in those students who are regarded as “low performers” and would prefer not to be openly confronted); handicapped students especially those students with visible handicaps e.g. speech problems, etc. This paper is the first part of a study aimed at creating a balance in the foregoing situations by presenting a design of a faceless automated “ AdvisorBot ” based on the bot framework. The design reflects a virtual support system model which could be adopted to enhance student support and course advising efficiency. Analysis of the existing system in most tertiary institutions in Nigeria reveals that student support services actually exist though not efficient in the sense that there are seldom specialized units/departments dedicated to this function in majority of the Institutions especially the public institutions where student advising is the work of academic staff in the various departments. The design follows a mix of the agent and object-oriented approaches and produces an implementation-ready specification whose full implementation would effectively support students during their studies. The system facilitates the process of advising by providing quick and easy access to valuable information, and giving important feedback on several issues involved in student advisement, which otherwise would take considerable time.
{"title":"Interactive Advising with Bots: Improving Academic Excellence in Educational Establishments","authors":"Wilson Nwankwo","doi":"10.11648/J.AJOMIS.20180301.12","DOIUrl":"https://doi.org/10.11648/J.AJOMIS.20180301.12","url":null,"abstract":"Student advising services are often regarded as the mainstream vehicle for promoting relationships, understanding, and performance in academic institutions especially at the tertiary level. However, it is often fraught with challenges in developing countries in respect of insufficient supporting manpower and attendant high cost of running effective services. In institutions where the services exist, not all students benefit from it as a result of some factors such as: the sub-optimal performance of the advising personnel; negative psychological complex in students arising from unusual egocentrism (especially in those students who are regarded as “low performers” and would prefer not to be openly confronted); handicapped students especially those students with visible handicaps e.g. speech problems, etc. This paper is the first part of a study aimed at creating a balance in the foregoing situations by presenting a design of a faceless automated “ AdvisorBot ” based on the bot framework. The design reflects a virtual support system model which could be adopted to enhance student support and course advising efficiency. Analysis of the existing system in most tertiary institutions in Nigeria reveals that student support services actually exist though not efficient in the sense that there are seldom specialized units/departments dedicated to this function in majority of the Institutions especially the public institutions where student advising is the work of academic staff in the various departments. The design follows a mix of the agent and object-oriented approaches and produces an implementation-ready specification whose full implementation would effectively support students during their studies. The system facilitates the process of advising by providing quick and easy access to valuable information, and giving important feedback on several issues involved in student advisement, which otherwise would take considerable time.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128384428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.11648/j.ajomis.20210604.14
Hika Debela Biru
{"title":"Effect of Internal Branding on Employees’ Brand Supporting Behaviors: Empirical Evidence from the Higher Education Institutions of Ethiopia","authors":"Hika Debela Biru","doi":"10.11648/j.ajomis.20210604.14","DOIUrl":"https://doi.org/10.11648/j.ajomis.20210604.14","url":null,"abstract":"","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117077772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.11648/j.ajomis.20210603.13
Collins Ochieng Obura
: The scramble for space in the retail industry has forced most supermarkets into adopting alternative strategies that will enable them attract customers, reduce operational costs and gain competitive edge in the market. This study discusses the application of systems with integrated database that are able to create enabling environment for efficient retail management. Bar coding and Continuous Replenishment System are the key variables used to get more insight into the study. The study adopted a cross-sectional survey design. A stratified sampling method was used to select a sample from the total population. From each stratum, the study used a random sampling to select 30% of the respondents which made a sample of 42 respondents. Data was collected using questionnaires and analysis done using statistical package for social science to communicate research findings. The ANOVA findings as explained by the P-Value of 0.000 which is less than 0.05 (significance level of 5%) confirms the existence of correlation between the independent and dependent variables. From the study findings, the study concludes that the introduction of barcode and continuous replenishment systems at an early stage of supermarket operation will enable the business to create greater responsiveness to its customers and suppliers, understand its cash flow needs, protect its financial data and confidential executive decisions and reduce its operation expenses leading to higher profitability and financial performance.
{"title":"Effectiveness of Systems Application on Financial Performance of Supermarkets in Kenya","authors":"Collins Ochieng Obura","doi":"10.11648/j.ajomis.20210603.13","DOIUrl":"https://doi.org/10.11648/j.ajomis.20210603.13","url":null,"abstract":": The scramble for space in the retail industry has forced most supermarkets into adopting alternative strategies that will enable them attract customers, reduce operational costs and gain competitive edge in the market. This study discusses the application of systems with integrated database that are able to create enabling environment for efficient retail management. Bar coding and Continuous Replenishment System are the key variables used to get more insight into the study. The study adopted a cross-sectional survey design. A stratified sampling method was used to select a sample from the total population. From each stratum, the study used a random sampling to select 30% of the respondents which made a sample of 42 respondents. Data was collected using questionnaires and analysis done using statistical package for social science to communicate research findings. The ANOVA findings as explained by the P-Value of 0.000 which is less than 0.05 (significance level of 5%) confirms the existence of correlation between the independent and dependent variables. From the study findings, the study concludes that the introduction of barcode and continuous replenishment systems at an early stage of supermarket operation will enable the business to create greater responsiveness to its customers and suppliers, understand its cash flow needs, protect its financial data and confidential executive decisions and reduce its operation expenses leading to higher profitability and financial performance.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128660861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.11648/j.ajomis.20210604.13
Siddharth Mahajan
{"title":"The Pricing of Meetings and Event Spaces in Hotel Revenue Management","authors":"Siddharth Mahajan","doi":"10.11648/j.ajomis.20210604.13","DOIUrl":"https://doi.org/10.11648/j.ajomis.20210604.13","url":null,"abstract":"","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125507697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.11648/j.ajomis.20220701.11
Ogungbade Aderonke Ayobami
{"title":"Survey of Undergraduates Users Satisfaction with Library Services in Selected Academic Libraries in Ogun State","authors":"Ogungbade Aderonke Ayobami","doi":"10.11648/j.ajomis.20220701.11","DOIUrl":"https://doi.org/10.11648/j.ajomis.20220701.11","url":null,"abstract":"","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121918881","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.11648/J.AJOMIS.20190404.11
M. J. B. Kabeyi
Good corporate governance is important in management of all organizations. It gives direction to an organization in matters of accountability, integrity and quality of product and service offerings in the wake of stiff competition and conflicting stakeholder interests. Business challenges and realities create conditions that favor governance failure through unethical conduct hence the need for regulations in addition to self-governance. Business ethics in business and manufacturing helps organizations in making ethically critical decisions. Corruption is a significant indicator of governance failure and involves illegal activities, criminal activities that are both financial and non-financial abuses and benefits. Corporate governance should provide a framework upon which organizations are hence creates order and harmony between various stakeholders. Good corporate governance improves organization’s image as a self-policing institution that is responsible and honest. Whereas self-regulations looks more attractive for free market economies, legislation and control is necessary since not all managers believe and act within good corporate governance. The board of directors should set the strategic objectives and provide leadership for realization and supervise the management and report to shareholders on their leadership. The Enron Corporation and Volkswagen scandals demonstrated that severe consequences result from failed corporate governance in form monetary and non-monetary that affect both perpetrators and the innocent. Where corporate governance fails, major indicators include, manipulation of financial records, corruption, poor quality products and exaggerated quality specifications in manufacturing and engineering, high staff turnover, lack of transparency and accountability, poor stakeholder relationship, poor performance and low economic development leading widespread poverty and social disorder. External enforcement should be considerate to genuine stakeholder interests to avoid legislation that will encourage cheating for survival. Perpetrators of governance failure, should be punished both as individually and as organizations to set an example to others in the form of penalties that are reasonably high to discourage noncompliance.
{"title":"Corporate Governance in Manufacturing and Management with Analysis of Governance Failures at Enron and Volkswagen Corporations","authors":"M. J. B. Kabeyi","doi":"10.11648/J.AJOMIS.20190404.11","DOIUrl":"https://doi.org/10.11648/J.AJOMIS.20190404.11","url":null,"abstract":"Good corporate governance is important in management of all organizations. It gives direction to an organization in matters of accountability, integrity and quality of product and service offerings in the wake of stiff competition and conflicting stakeholder interests. Business challenges and realities create conditions that favor governance failure through unethical conduct hence the need for regulations in addition to self-governance. Business ethics in business and manufacturing helps organizations in making ethically critical decisions. Corruption is a significant indicator of governance failure and involves illegal activities, criminal activities that are both financial and non-financial abuses and benefits. Corporate governance should provide a framework upon which organizations are hence creates order and harmony between various stakeholders. Good corporate governance improves organization’s image as a self-policing institution that is responsible and honest. Whereas self-regulations looks more attractive for free market economies, legislation and control is necessary since not all managers believe and act within good corporate governance. The board of directors should set the strategic objectives and provide leadership for realization and supervise the management and report to shareholders on their leadership. The Enron Corporation and Volkswagen scandals demonstrated that severe consequences result from failed corporate governance in form monetary and non-monetary that affect both perpetrators and the innocent. Where corporate governance fails, major indicators include, manipulation of financial records, corruption, poor quality products and exaggerated quality specifications in manufacturing and engineering, high staff turnover, lack of transparency and accountability, poor stakeholder relationship, poor performance and low economic development leading widespread poverty and social disorder. External enforcement should be considerate to genuine stakeholder interests to avoid legislation that will encourage cheating for survival. Perpetrators of governance failure, should be punished both as individually and as organizations to set an example to others in the form of penalties that are reasonably high to discourage noncompliance.","PeriodicalId":345253,"journal":{"name":"American Journal of Operations Management and Information Systems","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117032988","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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