Based on a classical financial market model different model variants known from the literature are discussed and analyzed, each focussing on modeling financial markets as a nonlinear dynamic system by introducing the formation of (heterogeneous) beliefs about future asset prices into the model...

Economics is viewed as a discipline that is mainly concerned with 'simplistic' theorizing, centered upon constrained optimization. As such, it is ahistorical and outcome focused, ie, it does not deal with economic processes. It is argued that all parts of the economy are inhabited by complex...

Non value-adding activities can be defined as activities that consume time, resources or space but do not add project value. This term is classified as waste in the language of Lean Production. Waste can significantly affect the business performance and productivity of contracting organisations....

This paper reviews the literature on the association between lean production and performance. From this, propositions on the integration and evolution of operation and human resource management practices associated with the lean production concept are developed. Using 24 years of data on the use...

Hoher Wettbewerbsdruck in Verbindung mit der Heterogenität der Kundenwünsche lassen vermuten, dass zukünftig mit einer verstärkten Fokussierung auf Einzelfertigung gerechnet werden kann. Die Relevanz dieser Fertigungsart in verschiedenen Branchen nimmt zu. Deshalb ist es erforderlich, dass...

Viele kleine und mittlere Unternehmen haben kein eigenes Produktionssystem, jedoch wird die Notwendigkeit mit steigender Unternehmensgröße unerlässlich. ImVordergrund stehen Ziele wie eine flache Hierarchieebene und schlankeProzessketten. Ein Produktionssystem stellt weiterhin sicher, dass...

The study examines the nature and impact of Japanese idea of continuous improvement (CI) at 14 automobile components companies in Australia. It assesses the extent to which CI practices inform management systems and work organization. The study is focused on the degree to which decentralized...

Purpose - The last decade has seen much interest in small and medium-sized enterprises (SMEs) from successive UK Governments highlighting the importance of this sector to the wealth-creating process of the UK economy. World-class manufacturing (WCM) is a set of methodologies that are used by...

Honda of America has developed a comprehensive approach to teaching the principles of leanproduction to its suppliers. The centerpiece of these efforts is a program called BP (for "Best process","Best Performance", "Bs Practice"), in which a crossfunctional team of personel born Honda and...

Hon& of America has developed a comprehensive approach to teaching the principles of leanproduction to its suppliers. The centerpiece of these efforts is a program called BP (for ?Best process?,?Best Performance ?, ?Bs Practice?), in which a crossfunctional team of persomel born Honda and...