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A Hybrid Simulation Framework of Consumer-to-Consumer Ecommerce Space
Title
A Hybrid Simulation Framework of Consumer-to-Consumer Ecommerce Space.
Creator
Joledo, Oloruntomi, Rabelo, Luis, Lee, Gene, Elshennawy, Ahmad, Ajayi, Richard, University of Central Florida
Abstract / Description
In the past decade, ecommerce transformed the business models of many organizations. Information Technology leveled the playing field for new participants, who were capable of causing disruptive changes in every industry. (")Web 2.0(") or (")Social Web(") further redefined ways users enlist for services. It is now easy to be influenced to make choices of services based on recommendations of friends and popularity amongst peers. This research proposes a simulation framework to investigate how...
Show moreIn the past decade, ecommerce transformed the business models of many organizations. Information Technology leveled the playing field for new participants, who were capable of causing disruptive changes in every industry. (")Web 2.0(") or (")Social Web(") further redefined ways users enlist for services. It is now easy to be influenced to make choices of services based on recommendations of friends and popularity amongst peers. This research proposes a simulation framework to investigate how actions of stakeholders at this level of complexity affect system performance as well as the dynamics that exist between different models using concepts from the fields of operations engineering, engineering management, and multi-model simulation. Viewing this complex model from a systems perspective calls for the integration of different levels of behaviors. Complex interactions exist among stakeholders, the environment and available technology. The presence of continuous and discrete behaviors coupled with stochastic and deterministic behaviors present challenges for using standalone simulation tools to simulate the business model.We propose a framework that takes into account dynamic system complexity and risk from a hybrid paradigm. The SCOR model is employed to map the business processes and it is implemented using agent based simulation and system dynamics. By combining system dynamics at the strategy level with agent based models of consumer behaviors, an accurate yet efficient representation of the business model that makes for sound basis of decision making can be achieved to maximize stakeholders' utility.
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Date Issued
2016
Identifier
CFE0006122, ucf:51171
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0006122
OPTIMIZED MARKET INTRODUCTION OF LARGE CAPITAL PRODUCTS WITH LONG DEVELOPMENT AND LEARNING CYCLES
Title
OPTIMIZED MARKET INTRODUCTION OF LARGE CAPITAL PRODUCTS WITH LONG DEVELOPMENT AND LEARNING CYCLES.
Creator
Lembcke, Antje, Malone, Linda, University of Central Florida
Abstract / Description
Any product sold is expected to be reliable and available when the customer wants to operate it. Companies that produce large capital products (LCP), such as rockets, satellites, or large gas turbines to generate electrical energy, tend to shy away from extending their testing and validation method above the requirements by law, mainly due to the very high costs of each additional test and the uncertain return on investment. This research shows that todayÂÂ's state of...
Show moreAny product sold is expected to be reliable and available when the customer wants to operate it. Companies that produce large capital products (LCP), such as rockets, satellites, or large gas turbines to generate electrical energy, tend to shy away from extending their testing and validation method above the requirements by law, mainly due to the very high costs of each additional test and the uncertain return on investment. This research shows that todayÂÂ's state of the art validation methods for LCP, required by law, or suggested in literature, and adapted by these industries, are not capable of capturing all significant failure modes (or even enough failure modes), with the consequence that the subsequently sold commercial products will still experience failures with significant effects on product reliability, and subsequently on the companiesÂÂ' bottom line earnings projections. The research determines the type of data (significant variables) necessary to correlate a companyÂÂ's validation policy to product failures after commercialization, and predicts the financial impact of the current validation policy on the companyÂÂ's profitability. A systems dynamics model to assess a company's testing policy is developed and an optimized product validation plan is suggested, and its impact on a companyÂÂ's profitability is demonstrated through simulation. A generic methodology is derived and its viability is illustrated using a specific product and a dynamic model developed with data available to the researcher. The generic method can be applied by any company to develop its own model for optimizing product reliability prior to market introduction.
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Date Issued
2010
Identifier
CFE0003413, ucf:48404
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0003413
A Holistic Framework for Transitional Management
Title
A Holistic Framework for Transitional Management.
Creator
Elattar, Ahmed, Rabelo, Luis, Pazour, Jennifer, Mollaghasemi, Mansooreh, Ajayi, Richard, University of Central Florida
Abstract / Description
For all business organizations, there comes a time when a change must take place within their eco-system. It consumes a great deal of thought and planning to ensure that the right decision is made as it could alter the entire course of their business for a number of years to come. This change may appear in the form of a brilliant CEO reaching the age of retirement, or an unsuccessful Managing Director being asked to leave before fulfilling the term of her contract. Regardless of the cause, a...
Show moreFor all business organizations, there comes a time when a change must take place within their eco-system. It consumes a great deal of thought and planning to ensure that the right decision is made as it could alter the entire course of their business for a number of years to come. This change may appear in the form of a brilliant CEO reaching the age of retirement, or an unsuccessful Managing Director being asked to leave before fulfilling the term of her contract. Regardless of the cause, a transition must occur in which a suitable successor is chosen and put into place while minimizing costs, satisfying stakeholders, ensuring that the successor has been adequately prepared for their new position, and minimizing work place gossip, among other things. It is also important to understand how the nature of the business, as well as its financial standing, effects such a transition.Engineering and management principles come together in this study to ensure that organizations going through such a change are on the right course. As the problem of transitional management is not one of concrete values and contains many ambiguous concepts, one way to tackle the problem is by utilizing various industrial engineering methodologies that allow these companies to systematically begin preparing for such a change. By default, organizational strategy has to change, technology is continually being renewed and it becomes very hard for the same leader to constantly implement new and innovative developments.Organizations today have a very poor understanding of where they currently stand and as a result the cause for a company's lack of profitability is often overlooked with time and money being wasted in an attempt to fix something that is not broken. To be able to look at the bigger picture of an organization and from there begin to close in on the main problems causing a negative impact, the Matrix of Change is used and takes in many factors to layout an accurate representation of the direction in which an organization should be headed and how it can continue to grow and remain successful. The Theory of Constraints on the other hand is used here as a step-by-step guide allowing companies to be better organized during times of change. And System Dynamics modeling is where these companies can begin to simulate and solve the dilemma of transitional management using causal loop diagrams and stock and flow diagrams.Through such tools a framework can begin to be developed, one that is valued by corporations and continually reviewed. Several case studies, simulation modeling, and a panel of experts were used in order to demonstrate and validate this framework.
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Date Issued
2014
Identifier
CFE0005160, ucf:50708
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0005160
PERCEIVED SERVICE QUALITY'S IMPACT ON BEHAVIORAL INTENTIONS IN THE TIMESHARE INDUSTRY
Title
PERCEIVED SERVICE QUALITY'S IMPACT ON BEHAVIORAL INTENTIONS IN THE TIMESHARE INDUSTRY.
Creator
Pollard, Leonard, Malone, Linda, University of Central Florida
Abstract / Description
This study created a model using factor analysis and structural equation modeling to investigate the relationship of service quality, word-of-mouth recommendation and price sensitivity of individuals who experienced a timeshare mini vacation at a branded timeshare resort. The constructs of service quality were developed by creating a survey tool. A total of 4,797 surveys were electronically sent resulting in a total of 1,275 of the individuals surveyed who met the criteria of staying at a...
Show moreThis study created a model using factor analysis and structural equation modeling to investigate the relationship of service quality, word-of-mouth recommendation and price sensitivity of individuals who experienced a timeshare mini vacation at a branded timeshare resort. The constructs of service quality were developed by creating a survey tool. A total of 4,797 surveys were electronically sent resulting in a total of 1,275 of the individuals surveyed who met the criteria of staying at a branded hotel or resort during their mini vacation. Six different variables were created from the ordinal level questions on the survey: Resort Accommodations, Sales Gallery, Sales Presentation, Resort Activities, Resort Staff and Brand Value. These were then used in an exploratory factor analysis to identify latent factors after which structural equation modeling was used to define the relationship between the factors and the independent variables. A total of 44 models were explored and evaluated based on goodness-of-fit metrics. The model that had the best level of fit was a first-order two-factor model. This model was created with an 80% subset and confirmed with a 20% subset of the sample. The factors found represent the Vacation Experience Promise (VEP) and the Vacation Experience Delivery (VED). There was a positive correlation for both VEP and VED with word-of-mouth recommendation and price sensitivity. The research also posited 24 hypotheses of the relationship between the service quality constructs, word-of-mouth recommendation and price sensitivity with the demographic characteristics of guest type, gender, stay type, age, marital status, gross income, timeshare ownership and the number of presentations attended. There was not enough information to support a relationship between the service quality constructs, word-of-mouth recommendation and price sensitivity with regards to gender, gross income and marital status. There was a difference in the scores for the service quality constructs and the varying categories within the age, stay type, and timeshare ownership demographic variables. There was a difference only in the VED scores and the varying categories within the guest type and presentations attended demographic variables. There was also a difference in the scores for the word-of-mouth recommendation construct and the varying categories within the age, guest type, timeshare ownership and number of presentations attended demographic variables. Lastly, there was also a difference in the scores for the price sensitivity construct and the varying categories within the guest type, timeshare ownership and presentation attended demographic variables. The research discusses the business implications associated with these findings and proposes next steps for future research.
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Date Issued
2010
Identifier
CFE0003475, ucf:48942
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0003475
A Framework of Critical Success Factors for Business Organizations that Lead to Performance Excellence Based on a Financial and Quality Systems Assessment.
Title
A Framework of Critical Success Factors for Business Organizations that Lead to Performance Excellence Based on a Financial and Quality Systems Assessment.
Creator
Francisco, Melissa, Elshennawy, Ahmad, Karwowski, Waldemar, Rabelo, Luis, Xanthopoulos, Petros, Weheba, Gamal, University of Central Florida
Abstract / Description
One of the most important tasks that business leaders undertake in order to achieve a superior market position is strategic planning. Beyond this obligation, business owners desire to maximize profit and maintain steady growth. In order to do this, resources must be invested in the most efficient way possible in order to achieve performance excellence. Adjusting business operations quickly, however, especially in times of economic uncertainty, is extremely difficult. Business leaders...
Show moreOne of the most important tasks that business leaders undertake in order to achieve a superior market position is strategic planning. Beyond this obligation, business owners desire to maximize profit and maintain steady growth. In order to do this, resources must be invested in the most efficient way possible in order to achieve performance excellence. Adjusting business operations quickly, however, especially in times of economic uncertainty, is extremely difficult. Business leaders therefore need insight into which elements of organizational improvement are most effective in order to strategically invest their resources to achieve superior performance in the most efficient way possible.This research examines the results of companies which have a demonstrated ability to achieve performance excellence as defined by the National Institute of Standards and Technology's Malcolm Baldrige Criteria for Performance Excellence. This research examined award-winning applications to determine common input factors, compared the business results of a subset of those award-winners with the overall market for a time-frame of 11 years, and then investigated the profitability, liquidity, debt management, asset management, and per share performance ratios of award-winners compared with their industry peers over 11 years as well.The main focus of this research is to determine whether participation in performance excellence best practices have created value for shareholders and business owners. This objective is achieved through the analysis of performance results of award winning companies. This research demonstrates that the integration of efforts associated with performance excellence is in-fact advantageous.
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Date Issued
2014
Identifier
CFE0005331, ucf:50503
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0005331