The purpose of this study is to examine the extent to which senior management's involvement and demographics of organizational affect the effectiveness of IT governance with the performance of organizations. This is a combination of exploratory and descriptive research that aims to investigate the determinants of IT governance and its effects on organizational performance in Malaysian manufacturing companies. The sample size of 357 collected for this research. Structural equation modeling (SEM) was utilized in this research to investigate the measurement and structural model simultaneously. The findings demonstrated the relationships between the senior management's involvement and organizational demographics, effective its governance and organizational performance in manufacturing companies in Malaysia. This research is the construction of a theoretically based model which assimilates the senior management's involvement and organizational demographics, effective IT governance, and performance of organizations. Likewise, discover the most crucial elements that affect effective IT governance to improve the manufacturing company's performance.
{"title":"The critical factors of IT governance and its impact on organizational performance in Malaysian manufacturing industry","authors":"Bentolhoda Abdollahbeigi, F. Salehi","doi":"10.5937/sjm15-19019","DOIUrl":"https://doi.org/10.5937/sjm15-19019","url":null,"abstract":"The purpose of this study is to examine the extent to which senior management's involvement and demographics of organizational affect the effectiveness of IT governance with the performance of organizations. This is a combination of exploratory and descriptive research that aims to investigate the determinants of IT governance and its effects on organizational performance in Malaysian manufacturing companies. The sample size of 357 collected for this research. Structural equation modeling (SEM) was utilized in this research to investigate the measurement and structural model simultaneously. The findings demonstrated the relationships between the senior management's involvement and organizational demographics, effective its governance and organizational performance in manufacturing companies in Malaysia. This research is the construction of a theoretically based model which assimilates the senior management's involvement and organizational demographics, effective IT governance, and performance of organizations. Likewise, discover the most crucial elements that affect effective IT governance to improve the manufacturing company's performance.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"148 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065282","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}
The paper is devoted to the complex diagnostic of structural and cultural properties of organizations. The study reveals the new diagnostic tool – the conjunctive matrix of the coordinationcultural profile of the organization. The concept of coordination mechanisms by Mintzberg was used for diagnostics of structural-managerial characteristics of organizations. To describe the organizational culture was used the model by Cameron and Quinn (“The Competing Values Framework”). For evaluation of explicitness of the coordination profile and the profile of organizational culture were used the coefficients of homogeneity. Depending on the ratio between the coefficients of homogeneity of the coordination profile and the cultural profile were substantiated four basic types of coordination-cultural profile: “Accurate Tuning”, “Coordination Groundwork”, “Culture Groundwork” and “Searching for a Basis”. The study of twenty-two companies reveals that coordination-cultural profile “Accurate Tuning” provides the maximum economic efficiently of organizations.
{"title":"Mathematical model and method of complex organizational diagnostic","authors":"P. Mikhnenko","doi":"10.5937/sjm15-18513","DOIUrl":"https://doi.org/10.5937/sjm15-18513","url":null,"abstract":"The paper is devoted to the complex diagnostic of structural and cultural properties of organizations. The study reveals the new diagnostic tool – the conjunctive matrix of the coordinationcultural profile of the organization. The concept of coordination mechanisms by Mintzberg was used for diagnostics of structural-managerial characteristics of organizations. To describe the organizational culture was used the model by Cameron and Quinn (“The Competing Values Framework”). For evaluation of explicitness of the coordination profile and the profile of organizational culture were used the coefficients of homogeneity. Depending on the ratio between the coefficients of homogeneity of the coordination profile and the cultural profile were substantiated four basic types of coordination-cultural profile: “Accurate Tuning”, “Coordination Groundwork”, “Culture Groundwork” and “Searching for a Basis”. The study of twenty-two companies reveals that coordination-cultural profile “Accurate Tuning” provides the maximum economic efficiently of organizations.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"19-31"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065572","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}
Digital technologies in management of companies are becoming a necessary condition for their competitiveness. The use of these technologies requires changes in management processes and in the organization of managers' work. The authors have looked into the usage of digital technologies and problems which Russian managers face when dealing with them, and into the attitudes to digital technologies that reveal the existing challenges, including the resistance to the oncoming changes. The paper analyzes the issues related to the ways of building new managerial competences in digital economy.
{"title":"Digital competencies in management: A way to superior competitiveness and resistance to changes","authors":"V. Gerasimenko, T. Razumova","doi":"10.5937/sjm15-23865","DOIUrl":"https://doi.org/10.5937/sjm15-23865","url":null,"abstract":"Digital technologies in management of companies are becoming a necessary condition for their competitiveness. The use of these technologies requires changes in management processes and in the organization of managers' work. The authors have looked into the usage of digital technologies and problems which Russian managers face when dealing with them, and into the attitudes to digital technologies that reveal the existing challenges, including the resistance to the oncoming changes. The paper analyzes the issues related to the ways of building new managerial competences in digital economy.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"115-126"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71066107","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}
B. KennyaSiqueira, Pinho de Marielli, Borges Vieira Cristiano, da Sundfeld Gama
Large amounts of UHT milk are consumed in Brazil, but little is known about the factors affecting the consumer’s decision to choose between whole and skimmed UHT milk. Since consumers represent one of the main market drivers, it is important to identify the factors influencing their behavioral patterns. A structured questionnaire was applied to 248 people in Juiz de Fora, Brazil. A binary logistic regression model was used to analyze the probability of buying whole or skimmed UHT milk. Results indicated that income, age, and number of family members in a residence are the major determinants of consumer behaviour when choosing between whole and skimmed milk. Higher income, older people, and smaller number of residents were associated with an increased consumption of skimmed milk. These results could be useful to orientate local dairy market campaigns and logistic distribution of products according to consumer preferences.
巴西消费了大量的超高温牛奶，但人们对影响消费者在全脂和脱脂超高温牛奶之间做出选择的因素知之甚少。由于消费者是主要的市场驱动者之一，确定影响其行为模式的因素是很重要的。对巴西Juiz de Fora的248人进行了结构化问卷调查。采用二元logistic回归模型分析购买全脂或脱脂UHT牛奶的概率。结果表明，在选择全脂牛奶和脱脂牛奶时，收入、年龄和家庭成员人数是消费者行为的主要决定因素。收入越高、年龄越大和居民人数越少与脱脂牛奶的消费量增加有关。这些结果可能有助于根据消费者的偏好定位当地乳制品市场活动和产品的物流配送。
{"title":"Determinants of consumer behaviour when choosing between whole and skimmed UHT milk","authors":"B. KennyaSiqueira, Pinho de Marielli, Borges Vieira Cristiano, da Sundfeld Gama","doi":"10.5937/sjm15-17051","DOIUrl":"https://doi.org/10.5937/sjm15-17051","url":null,"abstract":"Large amounts of UHT milk are consumed in Brazil, but little is known about the factors affecting the consumer’s decision to choose between whole and skimmed UHT milk. Since consumers represent one of the main market drivers, it is important to identify the factors influencing their behavioral patterns. A structured questionnaire was applied to 248 people in Juiz de Fora, Brazil. A binary logistic regression model was used to analyze the probability of buying whole or skimmed UHT milk. Results indicated that income, age, and number of family members in a residence are the major determinants of consumer behaviour when choosing between whole and skimmed milk. Higher income, older people, and smaller number of residents were associated with an increased consumption of skimmed milk. These results could be useful to orientate local dairy market campaigns and logistic distribution of products according to consumer preferences.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"175-180"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71064812","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}
C. Baysal, Yangil Mısırdalı Fulya, Şerafettin Sevim
This study investigates the relationship between counter productive work behavior and organizational commitment which is one of the problems that organizations frequently face with in recent years. The relationship between affective commitment, normative commitment and continuance commitment from organizational commitment dimensions and abuse, production deviance, sabotage, theft and withdrawal from counter productive work behavior are examined one by one. The study has been conducted with the participation of 219 academic staff working at Dumlupınar University. In the study, a correlation analysis is performed to determine the relationship between the variables. Furthermore, Kruskal-Wallis H and Mann-Whitney U tests are conducted to determine their association with demographic variables. As a result of the analyses this study detects that affective commitment and normative commitment dimensions have negative direction and significant relationship with the withdrawal and abuse dimensions. Additionally, the negative direction and significant relationships are found between continuance commitment and withdrawal, abuse, theft dimension.
{"title":"Analysis of the relationship between organizational commitment and counter productive work behaviour on academicians","authors":"C. Baysal, Yangil Mısırdalı Fulya, Şerafettin Sevim","doi":"10.5937/sjm15-18502","DOIUrl":"https://doi.org/10.5937/sjm15-18502","url":null,"abstract":"This study investigates the relationship between counter productive work behavior and organizational commitment which is one of the problems that organizations frequently face with in recent years. The relationship between affective commitment, normative commitment and continuance commitment from organizational commitment dimensions and abuse, production deviance, sabotage, theft and withdrawal from counter productive work behavior are examined one by one. The study has been conducted with the participation of 219 academic staff working at Dumlupınar University. In the study, a correlation analysis is performed to determine the relationship between the variables. Furthermore, Kruskal-Wallis H and Mann-Whitney U tests are conducted to determine their association with demographic variables. As a result of the analyses this study detects that affective commitment and normative commitment dimensions have negative direction and significant relationship with the withdrawal and abuse dimensions. Additionally, the negative direction and significant relationships are found between continuance commitment and withdrawal, abuse, theft dimension.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"143-157"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065411","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}
Y. Yusra, Caraka Eko Rezzy, Arawati Agus, Mohd. Azmi Ariffin, Gio Ugiana Prana, C. Rung, Youngjo Lee
As the sharing economy has emerged, the way customer perceives the service is shifting toward a combination of offline and online. The need for the service provider to understand its nature as well as the pertinent aspects regarding its characteristics is crucial. Previous research validated the influence of perceived online and offline service quality toward customer satisfaction and loyalty. However, with the distinctive dimensions of OFA service quality, its effects on customer satisfaction and the role of social innovativeness in satisfaction and loyalty linkage remain unexplored. Hence, this study attempts to investigate these relationships using the data obtained from customers of any OFA in Malaysia. Purposive sampling was employed and 227 collected responses were analyzed using variance-based partial least square path modeling. The results confirm the direct effect of online and offline service quality on customer loyalty and full mediation role of customer satisfaction. Besides, social innovativeness is found negatively moderates customer satisfaction and loyalty relationship. Implications and contributions of the study are also discussed.
{"title":"An investigation of online food aggregator (OFA) service: Do online and offline service quality distinct?","authors":"Y. Yusra, Caraka Eko Rezzy, Arawati Agus, Mohd. Azmi Ariffin, Gio Ugiana Prana, C. Rung, Youngjo Lee","doi":"10.5937/sjm15-24761","DOIUrl":"https://doi.org/10.5937/sjm15-24761","url":null,"abstract":"As the sharing economy has emerged, the way customer perceives the service is shifting toward a combination of offline and online. The need for the service provider to understand its nature as well as the pertinent aspects regarding its characteristics is crucial. Previous research validated the influence of perceived online and offline service quality toward customer satisfaction and loyalty. However, with the distinctive dimensions of OFA service quality, its effects on customer satisfaction and the role of social innovativeness in satisfaction and loyalty linkage remain unexplored. Hence, this study attempts to investigate these relationships using the data obtained from customers of any OFA in Malaysia. Purposive sampling was employed and 227 collected responses were analyzed using variance-based partial least square path modeling. The results confirm the direct effect of online and offline service quality on customer loyalty and full mediation role of customer satisfaction. Besides, social innovativeness is found negatively moderates customer satisfaction and loyalty relationship. Implications and contributions of the study are also discussed.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"277-294"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065971","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}
The strength of an emerging economy are the Micro, Small and Medium Enterprises as they paramount the economy to a greater extent. Since, MSMEs plays a greater role in the creation of wealth in advanced countries, there shall be justification on the less contribution of the same in developing economy. India as a developing economy should foster their industrial productivity and manufacturing MSMEs have a major role. It is being argued that the micro and small firms are exposed to sickness to a larger extent due to resource scarcity (Mehta & Rajan, 2017). The present study analyses social capital as a resource from structural social capital dimensions of MSMEs with respect to Government organizations and commercial banks for strengthening social capital of manufacturing MSMEs. The study is conducted based on 90 manufacturing MSMEs in Kerala.
{"title":"Social capital as competitive resource: A driver towards sustained competitive advantage among manufacturing MSMEs in emerging markets","authors":"Vidhya Vinayachandran, Ambilysadanam Ambily Soman","doi":"10.5937/sjm15-23207","DOIUrl":"https://doi.org/10.5937/sjm15-23207","url":null,"abstract":"The strength of an emerging economy are the Micro, Small and Medium Enterprises as they paramount the economy to a greater extent. Since, MSMEs plays a greater role in the creation of wealth in advanced countries, there shall be justification on the less contribution of the same in developing economy. India as a developing economy should foster their industrial productivity and manufacturing MSMEs have a major role. It is being argued that the micro and small firms are exposed to sickness to a larger extent due to resource scarcity (Mehta & Rajan, 2017). The present study analyses social capital as a resource from structural social capital dimensions of MSMEs with respect to Government organizations and commercial banks for strengthening social capital of manufacturing MSMEs. The study is conducted based on 90 manufacturing MSMEs in Kerala.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"159-173"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065900","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}
N. Milenković, Branimir Kalaš, V. Mirović, Jelena Andrašić
The goal of this research is to reflect how the gross domestic product, unemployment, real interest rate, savings, government expenditures and value-added tax effect on inflation in selected Balkan countries for period 2008-2016. Research examines the impact of macroeconomic determinants on price movements in the general level, measured by the annual rate of inflation. Selected countries are Albania, Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Serbia and Slovenia. This paper includes model where inflation is the dependent variable, while gross domestic product, unemployment, real interest rate, saving, government expenditures and value-added tax represent independent variables. Authors used LLC test and VIF test for stationary and multicollinearity, where confirmed that model is adequately designed. Using Hausman test, fixed effect model is chosen, where results have shown that gross domestic product, unemployment and value-added tax have a statistically significant impact on inflation compared to other explanatory variables in the model.
{"title":"The impact of macroeconomic determinants and tax form on inflation in selected Balkan countries","authors":"N. Milenković, Branimir Kalaš, V. Mirović, Jelena Andrašić","doi":"10.5937/sjm15-16685","DOIUrl":"https://doi.org/10.5937/sjm15-16685","url":null,"abstract":"The goal of this research is to reflect how the gross domestic product, unemployment, real interest rate, savings, government expenditures and value-added tax effect on inflation in selected Balkan countries for period 2008-2016. Research examines the impact of macroeconomic determinants on price movements in the general level, measured by the annual rate of inflation. Selected countries are Albania, Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Serbia and Slovenia. This paper includes model where inflation is the dependent variable, while gross domestic product, unemployment, real interest rate, saving, government expenditures and value-added tax represent independent variables. Authors used LLC test and VIF test for stationary and multicollinearity, where confirmed that model is adequately designed. Using Hausman test, fixed effect model is chosen, where results have shown that gross domestic product, unemployment and value-added tax have a statistically significant impact on inflation compared to other explanatory variables in the model.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"7-18"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71064700","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}
The changing role and function of Human Resource Development professionals due to social, economic, political and technological alterations lead the way for strategic HRD practices in organizations. In this current world of industrialization, this term relates to the achievement of competitive benefits by aligning organizational goals and priorities with structured and futureoriented activities. A study on strategic HRD lends a hand to eliminate the hitches of an organization by rational planning and people development with a focus on predictability and consistency. This research not only enlightens the implication of strategic activities but also it strengthens individual creativity, knowledge management, career planning, and individual competencies amongst employees in industrial sectors. It highlights on the employee perception about these SHRD practices of companies, which is a fundamental factor for the employee contentment, performance, and for the necessity of socio-technical systems. Accordingly, the study is focused at Dubai, U.A.E., in the shape of “Strategic Human Resource Development – A manoeuvre for future competencies” with a sample size of 300 from various companies by quantitative and qualitative analysis. Accordingly, it has been statistically confirmed that four independent variables show a positive relationship with strategic HRD activities. Along with this, it identifies the extent to which the HRD and its related work-life factors are provided by the selected companies. The result of the survey generated a key model and a framework for SHRD by creating a valuable contribution to the organization in facing the future challenges.
{"title":"Strategic human resource development: A manoeuvre for future competencies","authors":"Hima Parameswaran","doi":"10.5937/sjm15-22393","DOIUrl":"https://doi.org/10.5937/sjm15-22393","url":null,"abstract":"The changing role and function of Human Resource Development professionals due to social, economic, political and technological alterations lead the way for strategic HRD practices in organizations. In this current world of industrialization, this term relates to the achievement of competitive benefits by aligning organizational goals and priorities with structured and futureoriented activities. A study on strategic HRD lends a hand to eliminate the hitches of an organization by rational planning and people development with a focus on predictability and consistency. This research not only enlightens the implication of strategic activities but also it strengthens individual creativity, knowledge management, career planning, and individual competencies amongst employees in industrial sectors. It highlights on the employee perception about these SHRD practices of companies, which is a fundamental factor for the employee contentment, performance, and for the necessity of socio-technical systems. Accordingly, the study is focused at Dubai, U.A.E., in the shape of “Strategic Human Resource Development – A manoeuvre for future competencies” with a sample size of 300 from various companies by quantitative and qualitative analysis. Accordingly, it has been statistically confirmed that four independent variables show a positive relationship with strategic HRD activities. Along with this, it identifies the extent to which the HRD and its related work-life factors are provided by the selected companies. The result of the survey generated a key model and a framework for SHRD by creating a valuable contribution to the organization in facing the future challenges.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"24 1","pages":"353-370"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065708","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}
N. Dondur, V. Spasojević-Brkić, A. Brkic, Martina Perišić
Cranes’ operations are extremely risky and hazardous tasks, as demonstrated in various surveys in the field of incidents’ causes and effects. The most frequent cause of unsafe crane operation task execution is human error. Accordingly, innovation which enables cranes’ safe operations, prevents “blind lifts” and helps crane operator to avoid potential error is urgent. Project SPRINCE has proposed computer-aided Visual Guidance System as a real time solution aimed to prevent crane accidents, caused by obstructed view. This paper analyses the economic feasibility of Visual Guidance System application in various scenarios in aim to connect human, technology and organization issues through cost-benefit framework. There are two proposed investment scenarios analysed: A) Producing and selling of crane cabins with real-time computer-aided Visual Guidance System and B) Usage (purchase) of crane cabins with real-time computer-aided Visual Guidance System. The economic appraisal has proved that the total economic benefit in both scenarios in the complete utilization period is several times higher than the buying price, while the internal rate of return is few times higher than the aggregate rate of interest paid. Also, the amount of time which takes to recover the cost of an investment is less than four years. Moreover, both scenarios belong to the category of innovation projects with very
{"title":"The economic feasibility of crane cabins with real-time computer-aided visual guidance system","authors":"N. Dondur, V. Spasojević-Brkić, A. Brkic, Martina Perišić","doi":"10.5937/sjm15-24058","DOIUrl":"https://doi.org/10.5937/sjm15-24058","url":null,"abstract":"Cranes’ operations are extremely risky and hazardous tasks, as demonstrated in various surveys in the field of incidents’ causes and effects. The most frequent cause of unsafe crane operation task execution is human error. Accordingly, innovation which enables cranes’ safe operations, prevents “blind lifts” and helps crane operator to avoid potential error is urgent. Project SPRINCE has proposed computer-aided Visual Guidance System as a real time solution aimed to prevent crane accidents, caused by obstructed view. This paper analyses the economic feasibility of Visual Guidance System application in various scenarios in aim to connect human, technology and organization issues through cost-benefit framework. There are two proposed investment scenarios analysed: A) Producing and selling of crane cabins with real-time computer-aided Visual Guidance System and B) Usage (purchase) of crane cabins with real-time computer-aided Visual Guidance System. The economic appraisal has proved that the total economic benefit in both scenarios in the complete utilization period is several times higher than the buying price, while the internal rate of return is few times higher than the aggregate rate of interest paid. Also, the amount of time which takes to recover the cost of an investment is less than four years. Moreover, both scenarios belong to the category of innovation projects with very","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"33-43"},"PeriodicalIF":0.7,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065964","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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