Browsing by Issue Date, starting with "2019-04-30"
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- Digital transformaion in the oil and gas industry : how do unmanned aerial vehicles, specifically drones, contribute to improving the offshore inspection process of oil and gas platforms?Publication . Kalb, Benedikt Michael; Pinho, André de AlmeidaRegular inspections of oil and gas (O&G) platforms are vital for production, maintenance, safety, and the environment. Due to their location, offshore O&G facilities are exposed to hazardous and extreme conditions. In order to advance digitalization in the O&G sector, high-tech robots must be integrated. Traditional inspection methods, like Rope Access, Scaffolding, and Manned Helicopters imply significant challenges such as building scaffolding, sending inspection teams into hazardous environments, production downtime and high financial costs. Past research has identified how the introduction of unmanned aerial vehicles (UAVs) can meet the challenges by reducing costs, increasing safety conditions, increasing efficiency and improving accuracy. This dissertation presents the current state of research in the offshore O&G industry, identifies and quantifies cost and time factors. It compares the traditional inspection methods to the UAV inspection method by applying qualitative and quantitative methods of primary data gathering from industry expert interviews and secondary company data. This research shows that switching to UAV inspection allows a worldwide saving potential of USD 12B and market potential of USD 13M per inspection cycle. The complete Visual Inspection, including Flare, Underdeck, and Drilling Derrick is on average seven times faster than traditional methods. Introducing UAV inspection improves safety, as drone pilots operate up to 500m away from high-risk areas on the platform. Combining high-tech drones and AI-based software allows to generate a huge amount of data and build complete 3D models which can be reproduced continuously to detect trends in the state of the platform and apply Predictive Maintenance.
- How artificial intelligence can help banks improve the customer experience of buying a housePublication . Francisco, Daniela Ferreira; Romeiro, Paulo Alexandre Mendes RamosThe focus of this thesis is to understand how artificial intelligence can help banks in general to improve the customer journey of buying a house. Since the financial crisis, banks have been struggling to maintain profitability. The drivers for change in the industry are now the new competitors emerging in the financial landscape, new regulations implemented in the industry and the new customers’ expectations regarding technology. This thesis argues that banks could use their natural advantage with mortgage loans and their investments in artificial intelligence to improve the customer journey of buying a house. After conducting research, dept interviews and customer research, the customer journey was outlined and concluded that overall, the buying of a house is a complicated and unfamiliar process. Followed AI focused research, a new and enriched customer journey was drawn and complemented. It is suggested that banks implement AI to make the process more transparent and easier to navigate. A virtual real-estate agent powered by AI would assure the bank that the process is completed and guarantee the banks revenues for customer loans. Leveraging AI algorithms and customer information the bank can help the customer narrow down its searches presenting viable housing options to the customer which allows the bank to increase customer satisfaction, reduce customer churn, reduce the banks operational costs and ensure the revenues from mortgage loans.
- Another technology transforming the Music Industry : BlockchainPublication . Marques, Miguel Carvalho; Saraiva, Gonçalo de Oliveira Vieira DinisThe blockchain is an emerging technology, receiving increased attention due to its applicability in several different areas of business, among other reasons. One of the possible applications of blockchain is in the music industry. New ventures exploring this subject have been appearing, offering a range of different solutions to some of the most pressing issues in the industry. Past literature focused on the technology and how its specificities can help in changing a culture of lack of transparency and inefficiency in the revenue streams, ultimately harming the artists. This study starts by providing a detailed picture of the music industry, their several actors, their functions and relationships, only then framing blockchain in this network. By collecting insights from different players in the music industry, positioned along the value chain and with heterogenous interests, the research goes further in understanding their vision on the industry. It is learned that there are two contrasting dimensions in it, one of which is seemingly more accessible to the new platforms. Moreover, the pain points identified are confirmed by the music community, even though other issues seem to be more critical. Considering this, the level of attractiveness of the industry for the blockchain projects is assessed and a new limitation to its market penetration is discovered: the lack of knowledge on the subject existing in the music community today. Still, its impact is estimated by providing a new image of the possibly reorganized music industry supply chain.
- Analysis of a competitive market relocation to China for a private automotive manufacturing company through an internationalization strategyPublication . Fernandes, Maria Teresa Monteiro; Romeiro, Paulo Alexandre Mendes RamosThe auto industry globalization influences all the supply chain, and, in fact, research has shown that the industry’s giant players, specifically the OEMs (Original Equipment Manufacturers), are demanding global suppliers. We analyzed an European private familyowned automotive interior fabric and foils manufacturing company with two production plants located in Europe, it needs to be capable of follow its main clients’ strategies. The company is currently exporting its products through local agents to fulfill its clients’ requirements in China. However, after a market analysis, to export seems not be a sufficient strategy to have a sustainable growth in China in the long run. In order to both fulfill the market requirements and be congruent with the company’s organizational culture there were analyzed, additionally, four relocation strategies, to have local warehouses, to sell the technology to a Chinese company, and to produce abroad, through a wholly owned subsidiary or a JV agreement. Combining the two conditions with the company past experiences, to do a JV agreement was chosen as the most suitable strategy. Indeed, to have a Chinese partner has many advantages in such highly competitive and unknown market. A production plant inland allows the company to defend its European clients in China, and, besides, opens the door to future growth opportunities, being China the world biggest automotive market.
- Analysis of current factors that impede the implementation of quality of life measures in medical clinics and practicesPublication . Berghaus, Viktor Alexander; Mendonça, Maria Inês dos SantosThe aim of this research is to identify factors that impede the implementation of patient reported outcome measures (PROM’s) and health related Quality of Life (QoL) measures in medical practice. Therefore, scientific literature has been critically reviewed for impediments for PROM and QoL implementation. In addition, five interviews with medical professionals (MP’s) have been conducted and revealed that most of the theoretical findings are in line with empirical observations. The interview questions were focused on impediments for PROM’s and QoL measurements with regard to the awareness, categorization, strategy and skills of the MP’s. The interviewed doctors who already conducted QoL measurements were experienced and familiar with the respective measurements. However, the other doctors had a rough theoretical understanding of QoL measures, but no in-depth knowledge. This is similar regarding the categorization of QoL measures: MP’s that conducted QoL measurements before, knew about most relevant statistical and organizational factors and could provide examples for their successful application. Moreover, time-constraints and bureaucracy seem to be the most relevant impediments for a permanent implementation of QoL measures in Germany. Most of the MP’s mentioned that their willingness to acquire skills that allow the implementation and conduction of QoL measures is rather low, mainly because they are close to retirement. Future research should focus on possibilities to introduce QoL measures in a way that is time-efficient and easy to implement. Nevertheless, extensive evaluation studies are needed to remove any ambiguity about the actual impact of PROM and QoL surveys on medical and psychosocial care.
- What affects PISA scores? : cross-country analysis with focus on PortugalPublication . Pereira, Martim de Sousa Rita Henriques; Evrin, AlperenThis paper wants to find out what factors or school inputs improve students’ performance, measured by the PISA test. These factors have been estimated to check if they affect PISA scores and from this estimated model see how we can improve the Portuguese situation regarding education. The data is organized in panel data and we used the fixed effects model to make our estimation. This method allows to make comparisons between countries despite issues regarding degrees of freedom and a relatively small sample size. Based on our results, we give two main recommendations regarding Portugal’s educational system. The first one is to increase teacher salaries and the second one is to unfreeze teachers careers on the public sector.
- Baumol’s cost disease in the health care sectorPublication . Costa, Sofia Moura da; Evrin, AlperenThe concern for the impact of the Health Care costs in private and public spending has been increasing because of its effect on the country’s financial stability. Therefore, several drivers of Health Care Expenditure have been studied. However, one of its most relevant drivers is Baumol’s cost disease. Baumol (1967) defines the cost disease as the difference between the wage growth in the overall economy and productivity growth in the services sector, such as the health care sector. This excess in wages causes the unit costs in the health care sector to increase over time. In order to understand if there is enough margin for policymakers to establish effective policies to control for the rise in health care costs, this thesis studies the impact of Baumol’s cost disease in this sector in OECD countries. To do so, I define an instrument, the adjusted Baumol variable, to measure Baumol’s cost disease and apply it to a panel data set containing 18 OECD member countries from 1970 to 2016. The results found show that the adjusted Baumol variable is explaining from 20% to 80% of the increase in Health Care expenditure, depending on the definition of the Baumol sector. These results may imply that policymakers still have some margin to implement policies since the rise in Health Care expenditure is partially explained by Baumol’s cost disease.
- A diworsefication case study : rebuilding LEGO brick by brickPublication . Fonseca, Mariana Miranda Gomes Correia da; Saraiva, Gonçalo de Oliveira Vieira DinisThis paper examines how a company may successfully walk out of a diworsefication situation: stage in which a brand has excessively overdiversified over new extensions, to the point it got weaker and its performance started failing. The study explains why companies enter a failing stage, particularly, mature companies which desperately search for innovation. It also concludes that several internal and external factors may lead a company to extend its business and that the idea of leveraging brand awareness and reputation, and spreading business risk over products may be appealing for a company to enter new markets. Yet, hidden costs, the possibility of a bad reputation on the parent brand, and extreme deviation from the core business may lead a brand to become lost, distracted, failing and losing money due to overstretching. Thus, this study provides guidance on when to stop diversifying and how to do it. The presented recovery strategies are content-orientated and process-orientated. The first includes cost efficiencies, asset retrenchment, focus on the core activities and build for the future. The latter involves reinvigoration of firm leadership and culture change. To better understand these concepts, this paper uses LEGO’s case as a real-life example of a success story of a company which almost went bankrupt due to a blind chase after a brand extension strategy. Fortunately, the Danish company turned around mostly thanks to a fierce cut on unprofitable adjacencies and a rigid refocusing on the core business product, the bricks.
- Strategic communication to engage stakeholders in the creation of shared valuePublication . Oliveira, Ana Filipa Santos de; Seruya, José Manuel MenanoThis research combines management and communication research fields through an interpretivist approach, to unveil how is strategic communication formulated and implemented to engage stakeholders in the creation of shared value. No organization exists in a vacuum. Every organization has a place in, and impacts upon, its own environment. Each organization is defined by the communication established with those key publics whose perceptions and opinions it deems important, regardless of the prevailing direction of the economic cycle. In a context of economic crisis, organizations tend to re-evaluate their investment decisions, particularly with regard to action in the field of corporate social responsibility as this usually represents an economic cost. When this happens systematically a paradox arises, as it is precisely during an economic crisis that society as a whole needs more investment from the corporate world. As a result, several multinationals are breaking away from the conventional paradigm of corporate social responsibility and adopting a new one, the creation of shared value, whose central premise is that the competitiveness of an organization and the health of the communities around it are mutually dependent. Once it adopts a position of creating shared value, an organization needs to engage with most, if not all, of the stakeholder groups upon which it depends, and the challenging task arises of developing an integrated strategic communication that clearly signals the strategic direction of the organization and demonstrates a commitment to its stakeholder groups. This research therefore analyses the formulation and implementation of strategic communication that resulted from the transformation of a real estate organization’s sustainability strategy from one of corporate social responsibility, to one of creating shared value with its stakeholders. In terms of research design and bearing in mind the novelty of the concept of creating shared value in both academia and the industry, we adopted a case study approach gathering data from interviews and documents from a real estate organization; and then adding a contextual layer with the analysis of documents from other organizations in the same industry. The data was based on actual organizational systems, practices and 6 processes, and was collected in real-time as the implementation took place. For comparison purposes, the research included data from before the change of strategy. Extensive exploratory reading in both the fields of management and communication unearthed no evidence of existing theoretical or empirical work that combined management theories on stakeholder engagement and creating shared value, with communication theories on strategic communication. Thus, benefitting from this interdisciplinary theoretical framework, this research brings a unique perspective on a contemporary phenomenon within its real-life context. The findings of this research have led us to propose a new stakeholder-centric strategic communication model, one that calls for increasing integration between the interests of the organization and its stakeholders.