Traditional decision making versus artificial intelligence aided decision making in management of firms : A narrative overview
- Authors: Denhere, Varaidzo
- Date: 2021
- Subjects: Artificial intelligence , Fourth industrial revolution , Management practices
- Language: English
- Type: Journal article
- Identifier: http://hdl.handle.net/10210/493647 , uj:45007 , Citation: Denhere, V. 2021. Traditional decision making versus artificial intelligence aided decision making in management of firms : A narrative overview.
- Description: Abstract: There has been a lot of talk about possible ways that Artificial Intelligence (AI) will disrupt the workforce by automating some jobs. In the same vein, literature has also indicated that a lot of studies have been conducted on artificial intelligence systems from different perspectives. However, there are still some research opportunities that could be pursued to further knowledge in the area as artificial intelligence continues to evolve with technological advances. Consequently, this conceptual paper aimed at advancing understanding of artificial intelligence aided decision making versus traditional decision making in the management of firms in the era of Big Data. A general overview of the concept of management practices involving decision making was done, followed by traditional decision making styles. Then, this was followed by an overview of artificial intelligence aided decision making processes. The differences between these two decision making processes were highlighted in the discussion. Methodology: Using a desk-review, this study analysed existing data from secondary sources including peer-reviewed journal articles, textbooks and online blogs. In this paper, the role of the literature review was to unravel the components of the decision making process by management in firms. Results: Findings indicated that despite artificial intelligence aided decision making having many merits, some managers did not trust it due to some of its demerits and challenges that go with its adoption. As a result, they were reluctant to employ it. Conclusion/- and Recommendations: The paper recommends further research on how AI could be used in other management practices which are outside decision making.
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Effect of the Fourth Industrial Revolution on Road Transport Asset Management Practice in Nigeria
- Authors: Gambo, Nuru , Musonda, Innocent
- Date: 2020
- Subjects: Fourth Industrial Revolution , Road asset , Management practices
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/458307 , uj:40702 , Gambo, N., Musonda, I.: Effect of the Fourth Industrial Revolution on Road Transport Asset Management Practice in Nigeria.
- Description: Abstract: Poor management practices of road transport assets posed a challenge to the sustainable development of the transport system in developing countries like Nigeria. Studies in the past focused mainly on the performance of road construction process. However, few studies have evaluated the effect of the fourth industrial revolution (4.0IR) on the road transport assets in developing countries such as Nigeria. The current study aimed at assessing the effect of the fourth industrial revolution towards improving the management practice of road transport assets. Survey instruments were administered to project and facility managers in the Nigerian road construction sector of the economy using a proportionate random sampling technique. Partial least square structural equation modelling was used for data analysis utilising the Warp 7.0 PLS-SEM software algorithm. The software calculates p-values with WarpPLS based on non-parametric algorithms, resampling or stable algorithms and thus does not require that the variables to be normally distributed. The study concluded that 4.0IR drivers have a moderate effect change on the management practice of road transport assets in Nigeria at the moment. The findings imply that management of road assets in Nigeria would moderately improve due to 4.0IR technologies resulting in transport, safety and general efficiency and effectiveness of road networks in Nigeria. The study identified 4.0IR drivers to include; robotics, mobility, virtual and augmented reality, internet of things and cloud computing, machine learning, artificial intelligence, blockchain, 3D printing drones that are built with an attached 3D printer, (the drone hangs a 3D printing nozzle that's fed plastic, concrete mix or other material from a tube connected to the top of the drone's printing path that precisely plotted by software, for a promised printing accuracy of 0.1mm),and digital engineering. This study emanated from the government reports and past studies in the area of road transport asset management practice which the study investigated the major causes of poor practices and assessed the effect of the fourth industrial revolution on the practice.
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Barter trading : an empirical investigation of management practices
- Authors: Oliver, P. , Mpinganjira, M.
- Date: 2011-12
- Subjects: Barter trade , Barter practitioners , Management practices
- Type: Article
- Identifier: uj:5789 , ISSN 1993-8233 , http://hdl.handle.net/10210/7796
- Description: Barter trade is on the increase worldwide in both developed and developing countries. This study is aimed at investigating the management practices used by firms involved in barter trading in order to ensure that they take optimal advantage of benefits of barter trade and minimise its potential problems. Data was collected from 61 barter trade practitioners from the South African media industry. The findings show that most of the firms realise the need to have dedicated personnel responsible for barter trade in their firms. Having dedicated personnel responsible for barter trade helps ensure accountability. The findings also show that most of the firms actively search for barter opportunities, have top management support in their barter trading activities, make use of in-house specialists to negotiate barter deals and have in place clearly defined policies on managing barter trade. Nearly all the policies prescribe products that can be bartered, maximum value of deals acceptable, evaluation criteria for barter deals, accounting and tax treatment of barter deals as well as barter trade authorisation procedures. The findings of the study have practical significance to firms considering using barter trade in their organisations. These have been highlighted in the paper.
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