Electronics:a case study of economic value added in target costing

Whilst target costing and strategic management accounting (SMA) continue to be of considerable interest to academic accountants, both suffer from a relative dearth of empirically based research. Simultaneously, the subject of economic value added (EVA) has also been the subject of little research at the level of the individual firm.The aim of this paper is to contribute to both the management accounting and value based management literatures by analysing how one major European based MNC introduced EVA into its target costing system. The case raises important questions about both the feasibility of cascading EVA down to product level and the compatibility of customer facing versus shareholder focused systems of performance management. We provide preliminary evidence that target costing can be used to align both of these perspectives, and when combined with other SMA techniques it can serve as " the bridge connecting strategy formulation with strategy execution and profit generation" ( Ansari et al., 2007, p. 512). © 2012 Elsevier Ltd.

Exploring value-added benefits to enhance wider adoption of chipless RFID system

Radio-frequency identification technology (RFID) is a popular modern technology proven to deliver a range of value-added benefits to achieve system and operational efficiency, as well as cost-effectiveness. The operational characteristics of RFID outperform barcodes in many aspects. Despite its well-perceived benefits, a definite rationale for larger scale adoption is still not so promising. One of the key reasons is high implementation cost, especially the cost of tags for applications involving item-level tagging. This has resulted in the development of chipless RFID tags which cost much less than conventional chip-based tags. Despite the much lower tag cost, the uptake of chipless RFID system in the market is still not as widespread as predicted by RFID experts. This chapter explores the value-added applications of chipless RFID system to promote wider adoption. The chipless technology's technical and operational characteristics, benefits, limitations and current uses will also be examined. The merit of this chapter is to contribute fresh propositions to the promising applications of chipless RFID to increase its adoption in the industries that are currently not (or less popular in) utilising it, such as retail, logistics, manufacturing, healthcare, and service sectors. © 2013, IGI Global.

Exploring value-added applications of RFID systems in industry and service sectors

Radio-frequency identification technology (RFID) is a popular modern technology proven to deliver a range of value-added benefits to achieve system and operational efficiency, as well as cost-effectiveness. The operational characteristics of RFID outperform barcodes in many aspects. One of the main challenges for RFID adoption is proving its ability to improve competitiveness. In this paper, we examine multiple real-world examples where RFID technology has been demonstrated to provide significant benefits to industry competitiveness, and also to enhance human experience in the service sector. This paper will explore and survey existing value-added applications of RFID systems in industry and the service sector, with particular focus on applications in retail, logistics, manufacturing, healthcare, leisure and the public sector. © 2012 AICIT.

Management Compensation as a Value-Added Competitive Method for Casual Theme Restaurants

The primary purpose of this study is to propose that the management compensation package at Outback Steakhouse is a value-adding competitive method. Specifically the research focused on a survey of general manager's altitudes in regards to their intentions to seek out new employment and the effect of the compensation plan provided by Outback Steakhouse on the managers' intentions. This research will provide insight into the use of compensation packages and programs as proactive, value-adding competitive methods in retaining good quality managers it casual theme restaurants.

Biofuels and high value added products from the yeast Rhodosporidium toruloides NCYC 921: Strategies towards a true cost-effective and environmentally sustainable integrated multiproduct driven biorefinery [Poster]

Single-cell oils (SCO) have been considered a promising source of 3rd generation biofuels mainly in the final form of biodiesel. However, its high production costs have been a barrier towards the commercialization of this commodity. The fast growing yeast Rhodosporidium toruloides NCYC 921 has been widely reported as a potential SCO producing yeast. In addition to its well-known high lipid content (that can be converted into biodiesel), is rich in high value added products such as carotenoids with commercial interest. The process design and integration may contribute to reduce the overall cost of biofuels and carotenoid production and is a mandatory step towards their commercialization. The present work addresses the biomass disruption, extraction, fractionation and recovery of products with special emphasis on high added valued carotenoids (beta-carotene, torulene, torularhodin) and fatty acids directed to biodiesel. The chemical structure of torularhodin with a terminal carboxylic group imposes an additional extra challenge in what concern its separation from fatty acids. The proposed feedstock is fresh biomass pellet obtained directly by centrifugation from a 5L fed-batch fermentation culture broth. The use of a wet instead of lyophilised biomass feedstock is a way to decrease processing energy costs and reduce downstream processing time. These results will contribute for a detailed process design. Gathered data will be of crucial importance for a further study on Life-Cycle Assessment (LCA).

Economic feasibility analysis of the implementation of a high value-added molecule extraction system in an olive oil mill

The production of olive oil generates several by-products that can be seen as an additional business opportunity. Among them are the olive pits, already used for heat and/or electricity generation in some mills. They contain compounds that are commercially very interesting and, if recovered, contribute to the sustainability of the olive mills. The work presented in this paper is a preliminary evaluation of the economic feasibility of implementing a system based on a batch prototype with 1 m3 for the extraction of high value-added bioactive molecules from olive pits that are separated during the production of virgin olive oil. For the analysis, a small representative olive mill in Portugal was considered and the traditional Discounted Cash Flow Method was applied. Based on the assumptions made, the simple payback for implementation a system for the extraction of value-added molecules from the olive pits is around 7 years.

Electrochemical oxidation of Kraft lignin for the production of value-added chemicals on Ni and Co electrocatalysts

La vanillina è un’aldeide aromatica importante da un punto di vista industriale, in quanto viene ampiamente utilizzata dall’industria alimentare, cosmetica e farmaceutica. Attualmente, la vanillina da biomasse viene ottenuta attraverso l’ossidazione catalitica della lignina. Un’alternativa è rappresentata dall’ossidazione elettro-catalitica, un processo che sta riscuotendo un notevole interesse, perché permette di lavorare in condizioni blande. L’obiettivo di questo lavoro è stato quello di sintetizzare elettro-catalizzatori che favoriscano la depolimerizzazione della lignina Kraft per ottenere selettivamente vanillina. Sono state utilizzate schiume di Ni a cella aperta, tal quali e elettro-depositate con idrossidi di Ni-Co e Co. La formazione degli osso-idrossidi dei metalli, sulla superficie delle schiume, e la OER contribuiscono all’elettro-ossidazione della lignina, mentre la resa di vanillina dipende sia dal catalizzatore che dalle condizioni di reazione (potenziale applicato e tempo di reazione). La resa maggiore di vanillina è stata ottenuta applicando 0.6 V vs SCE con un tempo di reazione di un’ora e utilizzando la schiuma di Ni bare come catalizzatore. Indipendentemente dal tipo di catalizzatore usato, aumentando il tempo di reazione la resa di vanillina diminuisce, probabilmente a causa delle reazioni di ri-condensazione e ossidazione successiva dei prodotti che coinvolgono la vanillina stessa. La presenza di idrossidi di Ni-Co e Co sulla schiuma di Ni non ne migliora l’attività catalitica. La schiuma Co/Ni esibisce un’elevata carica accumulata e un’alta conversione, probabilmente dovuto alle reazioni parassite che sfavoriscono l’accumulo di vanillina. Le schiume Ni-Co/Ni invece, presentando sia una resa in vanillina intermedia tra le altre due ma associata ad una carica accumulata molto bassa. Un risultato incoraggiante per possibili sviluppi futuri.

Electrochemical oxidation of Kraft and Dealkaline lignin to produce value-added chemicals on Nickel electrocatalysts

One of the most important scientific and environmental issues is reducing global dependence on fossil sources and one of the solutions is to use biomass as feedstock. In particular, the use of lignocellulosic biomass to obtain molecules with considerable commercial importance is gaining more and more interest. Lignin, the most recalcitrant part of lignocellulosic biomass, is a valuable source of sustainable and renewable aromatic molecules, currently produced from petrochemical processes. Vanillin, one of the most important aromatic aldehydes on an industrial level, can be obtained through catalytic lignin oxidation. An alternative to the conventional catalytic oxidation process is the electro-catalytic process, which can be carried out at ambient temperature and pressure, using water as solvent, and it can be considered as a renewable energy storage. In this thesis, the electrocatalytic oxidation of Kraft and Dealkaline lignin in NaOH was investigated over Ni foam catalysts. The effect of the reaction parameters (i.e. time, applied potential, lignin concentration, NaOH concentration, and temperature) on the yields of vanillin and other valuable products was evaluated. After the screening of the reaction conditions, a systematic study of the contribution of the homogeneous reaction (lignin depolymerization due to the basic solvent) to the yield of the product was accomplished. Finally, considering the obtained results, an alternative reaction procedure was proposed.

Avaliação de empresa: Uma análise de utilização do Eva

A realidade da economia actual impõe às empresas a necessidade de administração do valor para a sobrevivência e continuidade do negócio. Nesse sentido o processo de avaliação de empresa desempenha um papel importante para a gestão, uma vez que os gestores precisam considerar as possíveis alternativas existentes para criação de valor, como compra e venda de participações, aceitar novos investimentos, fusões ou até mesmo para realização de reestruturações e incorporações. É nesse sentido que decidimos realizar um estudo cujo tema é: Avaliação de empresa - uma análise de utilização do EVA (Económic Value Added), com o objectivo principal de mostrar a importância do EVA como uma das metodologias de avaliação de empresas. Para a realização dessa pesquisa, fizemos um estudo de caso múltiplo, com o propósito de estimar o valor de algumas empresas de sectores diferentes. De acordo com o estudo, constatamos que as empresas não têm dado a devida importância sobre o tema, embora tenham a consciência das vantagens que essa prática pode trazer para as organizações. Tendo em conta os diversos métodos apresentados, utilizamos um dos métodos tradicionais (método do valor contabilístico ou histórico) com o intuito de fazer uma pequena comparação dos valores calculados com a metodologia do EVA. Relativamente à metodologia utilizada durante a elaboração deste trabalho, baseámonos numa pesquisa bibliográfica acerca do tema, através da consulta de livros, trabalhos científicos já publicados assim como sites na internet. Os resultados do estudo demonstraram que o valor das empresas calculado pelo método do EVA foi maior do que o valor apresentado pelo método tradicional, o que nos aponta uma superioridade da metodologia do EVA ao avaliar as empresas pelo seu potencial económico, e não pelos recursos financeiros.

A importância da gestão baseada na criação de valor para o acionista (Value-Based Management): o caso do Grupo Galp Energia

A avaliação de empresas sempre constituiu um tema de elevada reflexão, sendo que vários especialistas tentam encontrar os modelos que melhor se adaptam a situações específicas e para as quais precisam de determinar um valor. No contexto empresarial português começa a ganhar significância a prática da gestão orientada para a criação de valor (Value-Based Management). O conceito de Value-Based Management assistiu a um particular desenvolvimento nos últimos 20 anos como resultado da globalização e desregulamentação dos mercados financeiros, dos avanços nas tecnologias de informação e do aumento da importância dos investidores institucionais. Vários analistas apresentaram evidência de que as empresas que adotam sistemas VBM melhoram o seu desempenho económico em relação a outras de dimensão semelhante no mesmo setor. É neste contexto que o EVA (Economic Value Added) se apresenta como uma métrica de desempenho privilegiada nos processos de controlo das decisões estratégicas tomadas. No presente trabalho pretendemos abordar o conceito da gestão baseada na criação de valor e a sua importância para o acionista, o que implica rever outros modelos de avaliação tradicionais baseados no valor contabilístico. Como métrica de avaliação do desempenho passado da empresa ao nível da criação de valor vamos dar particular importância ao estudo do EVA, fazendo referência à possível correlação entre esta métrica e o MVA (Market Value Added). O objetivo principal é analisar empiricamente a relação do EVA como medida de desempenho associada à criação de valor para os acionistas com a performance da empresa. Com efeito, vamos efetuar um estudo de caso, que vai incidir sobre um grupo empresarial português, referência no seu setor de atividade, o Grupo Galp Energia, cotado na Euronext Lisbon. Pensamos que a crescente prática da gestão baseada na criação de valor nas empresas cotadas em Portugal e a necessidade de aferir os resultados desta, tornam esta investigação pertinente, para além do facto de serem poucos os estudos empíricos à questão da criação de valor e a sua correlação com o valor acrescentado de mercado e com o valor de mercado dos capitais próprios das empresas cotadas em Portugal.

Creating greater value for biomass residues

Dissertation presented to obtain the Ph.D degree in Engineering Sciences and Technology

Financial development, labor and market regulations and growth

This paper investigates the importance that market regulation and financial imperfections have on firm growth. We analyse institutions af- fecting labor market as Employment Protection Laws (EP) and Product Market Regulation (PM). We show that together with the beneficial effects of financial development, a firm will get less financing, and thus investless, in a weak financial market (finance effect), the strictness of product and labor market regulations also affect firm growth (labor effect). In particular, we show that the stricter the rules the more detrimental the influence on growth in sectoral value added for a large number of countries. We also show that the labor effect overcomes the positive finance effect.