Academic literature on the topic 'Industry-specific terms'

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Journal articles on the topic "Industry-specific terms"

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Bayekeyeva, Ainur, Saule Tazhibayeva, Zhainagul Beisenova, Aigul Shaheen, and Aisaule Bayekeyeva. "Controlled Multilingual Thesauri for Kazakh Industry-Specific Terms." Social Inclusion 9, no. 1 (January 14, 2021): 35–44. http://dx.doi.org/10.17645/si.v9i1.3527.

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This article discusses the practical issues of compiling controlled multilingual thesauri for the purposes of industry-specific translation (IST). In the multilingual, transnational and globally connected Kazakhstan, IST is a much-needed translation service. IST is an interdisciplinary field between terminology, computational linguistics, translation theory and practice. Most of the professional guides, dictionaries and glossaries are systemized in alphabetical order and contain multiple variants for the terms searched. Therefore, there is an urgent need to create a systemized controlled multilingual thesaurus of industry-specific Kazakh, English and Russian terms in order to provide multilingual users with an interoperable and relevant term base. Controlled multilingual thesauri for industry-specific terms are the most effective tools for describing individual subject areas. They are designed to promote communication and interaction among professionals, translators and all Automated Information System users of specific fields irrespective of their location and health conditions. Unlike traditional dictionaries, controlled thesauri allow users to identify the meaning with the help of definitions and translations, relations of terms with other concepts, and broader and narrower terms. The purpose of this research is to unify and systematize industry-specific terms in Kazakh, to provide Russian and English equivalents, and to classify the terms into essential rubrics and subjects. Based on the Zthes data scheme to create a controlled multilingual thesaurus of industryspecific terms, the major rubrics have been formulated, and about 10,000 Kazakh mining and metal terms approved by the Terminological Committee of Kazakhstan have been structured.
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Haake, Sven. "National Business Systems and Industry-Specific Competitiveness." Organization Studies 23, no. 5 (September 2002): 711–36. http://dx.doi.org/10.1177/0170840602235002.

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Countries have been shown to be competitive in specific industries. This paper contends that this industrial specialization can be understood in terms of an affinity between national `models of capitalism' and the characteristics of industrial task environments. Put differently, industry-specific competitiveness is conceived to arise out of a fit between patterns of national business systems and patterns of industrial task environments. Specifically, the paper will propose a relationship between the communitarian or individualistic nature of national business systems and the organization-specificity of knowledge in an industry. More communitarian business systems are thought to enjoy a competitive advantage in industries with a high organization-specificity of knowledge, i.e. in industries that rely more on the long-term accumulation of organization-specific knowledge within tightly-knit corporate communities. More individualistic business systems, on the other hand, are thought to enjoy a competitive advantage in industries with a low organization-specificity of knowledge, i.e. in industries that thrive more on the speedy dissemination or reallocation of company-unspecific knowledge through a constant reconfiguration of social relationships. The paper will offer some illustrations of these proposed relationships in terms of the competitive profiles of the United States, Japan, Germany and Britain.
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Ergashova, Ra`no, and Nilufar Yuldosheva. "MORPHOLOGICAL STRUCTURE OF AVIATION TERMS." INTERNATIONAL JOURNAL OF WORD ART 1, no. 3 (January 30, 2020): 206–10. http://dx.doi.org/10.26739/2181-9297-2020-1-29.

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The creation, regulation, lexical and grammatical research and interpretation of the system of terms in the field of aviation in the world linguistics terminology system are one of the specific directions of terminology. Research on specific features is an important factor in ensuring the development of the industry. This article discusses morphological structure of aviation terms. The purpose of the article is to analyze the role of aviation terms in the morphology of the Uzbek language and its definition.
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Kravchuk, Nataliia, and Andrii Liubchyk. "REGIONAL SPECIFIC FEATURES OF AGRICULTURAL INDUSTRY." Economics: time realities 3, no. 49 (June 23, 2020): 14–22. http://dx.doi.org/10.15276/etr.03.2020.2.

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The article deals with the features of the location of agricultural production in the spatial dimension. It is established that the main indicators illustrating the level of regions’ socio-economic development are: the region’s share in the gross domestic product formation, the region’s share in national production (certain types), the concentration ratio, gross output at constant per capita prices population, employment rate in terms of sectors of the economy etc. It is proved that the highest level of development is mainly in the industrial regions of Ukraine (the Dnipropetrovsk region, the Kharkiv region, the Zaporizhia region, the Kyiv region and Kyiv itself). It is determined that the largest share of agricultural industry in the of gross regional product structure have traditional agricultural regions of Ukraine – the Vinnytsia region , the Kyiv region, the Poltava region, the Cherkasy region. It is calculated the generalizing coefficient of district specialization of agricultural production, according to which 9 regions of Ukraine have a high degree: the Vinnytsia region, the Zhytomyr region, the Kirovohrad region, the Sumy region, the Ternopil region,the Kherson region, the Khmelnytsky region, the Cherkasy region, the Chernihiv region.
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Riba-Hrynyshyn, O. M. "GERMAN TERMS SPECIFIC TO THE FIELD OF THE OIL INDUSTRY: SEMANTICS AND FUNCTIONING." Науковий вісник ДДПУ імені Івана Франка. Серія: Філологічні науки (мовознавство), no. 15 (2021): 151–54. http://dx.doi.org/10.24919/2663-6042.15.2021.27.

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Harutyunyan, Kristine. "Colour Terms in Advertisements." Armenian Folia Anglistika 11, no. 2 (14) (October 15, 2015): 55–67. http://dx.doi.org/10.46991/afa/2015.11.2.056.

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The present article focuses on the peculiarities of the usage of colour terminology in advertisements. We live in a colourful world and there are great many colour words to describe it. We also live in a world where advertisement has become an accompanying phenomenon of our everyday life. It is obvious that the language of advertising has its specific features and it seems worth trying to reveal the role and the meaning of the colours used in advertisements. Colour terms are known to be linguistic universals which have certain associations attached to each of them. We may suppose that the colours that are mostly used in the advertisements are the basic colour terms. The spheres where we expect to find wider usage of colour terms should be the ones connected with fashion industry.
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Zolota, Olha. "Polisemous Terms in Ceramic Terminology." Terminological Bulletin, no. 4 (2017): 135–42. http://dx.doi.org/10.37919/2221-8807-2017-4-135-142.

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The article continues the collection of the author’s publications that devoted to studying of lexical-semantical peculiarities of Ukrainian terminology of ceramics. The phenomenon of polysemy in terminology studied in his works Ukrainian and foreign scientists. Ukrainian ceramic terminology is also no exception for the research of this lexical-semantic process. In the article attention is paid to finding out the causes of appearance of the meaningful terms of the researched vocabulary. The main factors of appearance of polisemantic units in the terminology of ceramic can be considered terminologization of common vocabulary, terminologization based on metonimical of and metaphorical transfers of meanings, savings the linguistic resources. As for being of the meaningful terms in terminology the thoughts of the researchers are polar divided. Exploring the ceramic vocabulary, note that should avoid the polisemantic terms, especially within one terminology system. In the analyzed article outlined the types of meaningful units in ceramic terminology and the classification of the analyzed polisemantic words of the field of use, structure, morphological affiliation and origin. There are three types of terminological polysemy of the field of use within the ceramic terminology: interconnect, interconnection and externally system polysemy. Polisemants of ceramic industry are mostly provided with one-word terms expressed derivative and non-derivative nouns for structural expression. Ceramic terms-polisemants are separately analysed for the origin. Among them defined borrowed and specific (mostly at externally system polysemy) units. During the study of meaningful terms of Ukrainian ceramics industry was found synonyms connections within polysemantic terms. Determined that synonyms phenomenon can occur in pairs of words where synonims variants of each other provided with specific and foreign language equivalents. We consider the existence of possible polysemy of terms within the contiguous terminological systems, that can be a means of saving language resources, and deny the possibility of using the same term for different concepts within the same terminology.
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Квач, Ю. А. "Peculiarities of Industry-Specific Terms Translation from English into Russian (on the basis of construction terminology)." Иностранные языки в высшей школе, no. 1(56) (April 13, 2021): 63–70. http://dx.doi.org/10.37724/rsu.2021.56.1.007.

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В статье рассматриваются способы перевода английских строительных терминов на русский язык, семантические и структурные различия строительных терминов в английском языке и их русских эквивалентов. Исследование приемов, применяемых для перевода английских строительных терминов, показывает, что наиболее распространенными способами перевода простых терминов является подбор эквивалента, транскрипция и транслитерация, в то время как для перевода многокомпонентных терминов применяются различные лексические трансформации, а также перестановки и грамматические замены. Применение трансформаций позволяет учитывать типологические различия английского и русского языков, а также адекватно передавать содержание термина. Перевод многокомпонентных терминов может вызывать определенные трудности, так как для передачи их точного значения важно правильно определить границы термина, выделить главные и зависимые слова, учесть при переводе часто наблюдаемые изменения исходного количества компонентов. The article deals with means of construction terminology translation from English into Russian language. The paper presents semantic and structural differences of construction terminology in the English language and their Russian equivalents. The research of methods used for translation of English construction terminology shows that the most commonly used methods of simple terms translation are the search of equivalents, transcription and transliteration, while multicomponent terms are commonly translated with the help of different lexical transformations, transposition and grammatical substitution. Translation transformations make it possible to account for typological differences of the English and Russian languages and also to adequately convey the meaning of a term. Translation of multicomponent terms may present some problems as for delivering their precise meaning it is important to correctly define their boundaries and also to elicit nuclear and determinative components. It is worth noting that the number of components in a translated term may differ from that of the original term.
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B. Casado-Díaz, Ana, Juan L. Nicolau, Felipe Ruiz-Moreno, and Ricardo Sellers. "Industry-specific effect of CSR initiatives: hotels and airlines." Kybernetes 43, no. 3/4 (April 1, 2014): 547–64. http://dx.doi.org/10.1108/k-12-2013-0271.

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Purpose – This study aims to examine the relationships between a firm's corporate social responsibility (CSR) activities and its performance and risk. The authors hypothesize that industry-level effects are highly determinant of the sign and magnitude of these relationships to establish a ranking of industries to identify the position of the most prominent tourism-related industries: hotels and airlines. Based on the cybernetic model of decision making and the heuristics thereof, shareholders base their investment decisions derived from CSR announcements on the idea that the industries behave differently; their fixed costs being a relevant factor. Design/methodology/approach – The authors estimate the industry-specific effects of CSR initiatives on firms' performance and risk using a sample of 583 announcements from the Spanish Stock Market. Findings – The results show that while CSR announcements have a positive effect on performance when the authors do not account for industry-specific factors, once the authors incorporate these factors into the analysis, the authors find that firm performance and risk vary quite substantially as a function of the industry to which the firm belongs. Interestingly, while the hotel industry presents an average behavior (standing at 9th position in returns, 15th in terms of risk, and 8th according to the ratio returns/volatility), the airline industry presents the worst situation of all industries: last in performance and last in risk. Practical implications – The results help managers assess their decisions and allocate CSR resources optimally. Originality/value – This article is the first attempt to empirically test and comprehensively detect the different relationships between CSR and firm performance across industries.
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Uzhakhova, Leyla, and Dmitrii Vakorin. "Specific features of development of fishing industry in Russia." Vestnik of Astrakhan State Technical University. Series: Fishing industry 2019, no. 4 (December 13, 2019): 14–23. http://dx.doi.org/10.24143/2073-5529-2019-4-14-23.

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The article presents the assessment results of the current state and existing problems of the functioning and development of the Russian food industry based on the analysis of scientific, practical and legislative materials in the field of fisheries, fish farming and fish processing. The analysis was carried out in accordance with key indicators specified by the State Program for the Development of the Fisheries Complex of the Russian Federation, such as the volume of production (catch) of aquatic biological resources, the development of aquaculture, per capita consump-tion of fish and fish products by the population, the share of domestic agricultural, fishery products and food in the total volume commodity resources of the domestic market. The priority task is the transition from the export-raw material to the innovative type of development of the fisheries complex based on the conservation and rational use of aquatic biological resources, the introduction of new technologies, increasing the of domestic fish products ratio in the domestic and foreign markets and raising the competitiveness of the Russian fish products. Changes in the intensity and structure of fish and other aquatic biological resources production in the Russian aquaculture over the past decades are analyzed. Both negative and positive trends in the industrial development have been identified. A significant role in the sustainable development of fish industry is given to integration associations. The types of integrated fisheries business structures that are most prevalent in Russia are considered. To solve existing problems and improve the competitiveness of the fishing industry, it was recommended to consolidate the efforts of the main industry partners in terms of responsibility and economic trust, development of associative and regulatory framework tools.
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Dissertations / Theses on the topic "Industry-specific terms"

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Купріянов, Євген Валерійович. "Українська термінологічна підсистема "гідротурбіни" як об'єкт комп'ютерного словника." Thesis, Харкiвський нацiональний унiверситет iм. В. Н. Каразiна, 2011. http://repository.kpi.kharkov.ua/handle/KhPI-Press/2493.

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The paper deals with the lexicographic description of Ukrainian hydroturbine term subsystem in electronic dictionary. The formation and development of computer lexicography in Ukraine and abroad are considered. The lines of research in modern Ukrainian computer lexicography are analyzed, and its development prospects are outlined. Theoretical studies of lexical unit description in paper and electronic dictionaries, performed by leading scientists, are surveyed. Based on the vast research material the analysis of hydroturbine term subsystem, in particular its sources of formation, structure and system relations between terms, is performed. The structural and semantic characteristics of hydroturbine terms are given.
Дисертаційне дослідження присвячено описові української гідротурбінної термінології та її лексикографічній репрезентації в електронному словнику. Розглянуто становлення і розвиток українського та зарубіжного електронного словникарства, визначено напрямки досліджень сучасної української комп'ютерної лексикографії, наголошено на перспективах її розвитку. Здійснено огляд теоретичних праць провідних науковців щодо опрацювання лексики в паперових та комп'ютерних словниках. Проаналізовано гідротурбінну термінологічну підсистему, зокрема висвітлено джерела її формування, структурну організацію та внутрішні системні зв'язки, з'ясовано структурно-семантичну будову термінів. Запропоновано модель комп'ютерного словника спеціальної лексики, обґрунтовано лексикографічні параметри, за якими здійснюється опис терміносистеми у словнику.
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Marklund, Åsa. "Translation of Technical terms : a study of translation strategies when translating terminology in the field of hydropower generation." Thesis, Linnéuniversitetet, Institutionen för språk och litteratur, SOL, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-13591.

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Abstract   This study analyses the translation of a technical guidebook in the subject field of hydropower generation. The aim is to identify and apply functional translation theories when translating general technical terms, industry terms and contract terms. The theoretical basis for the study consists of Eugene Nida’s and Vinay & Darbelnet’s models for translation as well as theories on terminology by Rune Ingo and Therésa Cabré. During the translation process, technical terms were identified and subsequently translated using one or more of the theories described. The result was then analysed and discussed. Although the study is not comprehensive enough to draw significant conclusions, the result indicates that in order to render the best possible translation of technical terms, a combination of theories and methods are best applied; direct translation regarding systematized terminology similar to general technical terms and oblique translation, or dynamic equivalence, regarding industry terms and contract terms. The results further suggest that structural analysis is of great value in order to determine the correct level of the term. In addition, the translator’s experience and knowledge of the subject field as well as readiness to consult parallel texts seem to be vital to the outcome of the translation.
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Books on the topic "Industry-specific terms"

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Sturdy, Andrew, Stefan Heusinkveld, Trish Reay, and David Strang, eds. The Oxford Handbook of Management Ideas. Oxford University Press, 2019. http://dx.doi.org/10.1093/oxfordhb/9780198794219.001.0001.

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Management ideas, and their associated applications, have become a prevalent feature of our working lives. While their focus is familiar, such as efficiency, motivation, and improvement, they range from specific notions such as activity-based costing, to broad movements like corporate social responsibility. This Handbook brings together some of the latest research from leading international scholars on how management ideas are produced, promoted, and adapted, and their effects on business and working practices and society at large. Rather than focusing on specific management ideas, this volume explores their key socio-political contexts and channels of dissemination, and is organized around four core overlapping themes. The first section sets out the research field in general, in terms of both an overall system and of different perspectives and research methods. The second section explores the role of different actors and channels of diffusion, including the consumers and producers of management ideas and new media, as well as traditional players in the management ideas field such as consultancies and business schools. The third section focuses on specific features or dynamics of the management ideas system, such as their adoption, evolution, institutionalization, and resurgence, while in the final section, critical and new perspectives on management ideas are examined, highlighting specific socio-political contexts and the possibility of alternative ideas and forms of critique. With a broad range of perspectives represented, this Handbook provides a comprehensive, authoritative, and enduring resource for those studying management, innovation, and organizational change, as well as for those working in the management ideas industry.
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Siebert, Scott E., and David S. DeGeest. The Five Factor Model of Personality in Business and Industry. Edited by Thomas A. Widiger. Oxford University Press, 2015. http://dx.doi.org/10.1093/oxfordhb/9780199352487.013.1.

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Personality traits have played a central role in industrial/organizational psychology, human resource management, and organizational behavior, the key fields in the application of psychology to business and industry. In the early years, excessive optimism led scholars to unrealistic expectations about the value of personality traits at work. This was followed by a period of profound pessimism regarding the value of personality as an explanatory variable when the unrealistic expectations were inevitably disappointed. More recently, advances in theory and methodology have led scholars to re-examine the role of personality with more realistic expectations. The Five Factor Model (FFM) has predominated as an integrative personality structure for conceptualizing and researching the relationship of personality to workplace outcomes. Five specific domains of research are considered herein: personnel selection; employee motivation, attitudes, and behavior; leadership; teams; and entrepreneurship. The chapter ends with open questions for future research in this domain.
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Bazen, Jacques. University spin-offs and economic impact on semi-peripheral regions in the Netherlands. Hogeschool Saxion, lectoraat Regio Ontwikkeling, 2020. http://dx.doi.org/10.14261/f58678f3-daa8-4422-aab7c7fcafa8966d.

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In this study, several aspects of Saxion spin-offs have been analysed, the numbers, workplaces, location, migration, gender issues, different economic sectors and survival rates. The main question underlying all these analyses was what the impact of Saxion as university of applied sciences is on the regional economy of the two regions in which it is located. From the literature, the concept of an entrepreneurial ecosystem, as explanatory factor for the observations that in certain regions more graduates or staff members start their own business and that such an ecosystem helps small fledgling businesses to survive and grow is an interesting concept. Unfortunately, the theoretical foundations are still not fully crystallized, therefore measuring the actual influence of such entrepreneurial ecosystems is still a difficult exercise. In this study, Saxion spin-offs from two regions, Twente and the Cleantech Region, have been analysed, and several differences in terms of number of spin-offs, employment, migration patterns and survival rates have been identified. Since the spin-offs are from the same university of applied sciences, with the same policy regarding support of entrepreneurship and both regions are located outside of the economic core regions of the country, it appears as if the strength of the regional context, the regional entrepreneurial ecosystem and the business opportunities it provides is a factor in explaining why there are more spin-offs in Twente (even when controlling for the larger size of the Saxion campus in this region). If one assumes that the strength of the entrepreneurial ecosystem is stronger in Twente (among others because of existing business networks, the availability of a world class research university, the University of Twente and a business support organization like Novel-T), it would explain why spin-offs located in this region on average offer more workplaces, and have a higher survival rate than in the Cleantech Region. Gender differences related to entrepreneurship are present in Saxion spin-offs, female graduates and staff members are much less likely to start a spin-off company than their male counterparts. When females do start, their spin-offs are on average much smaller in terms of workplaces offered. Their businesses have on average an equal survival rate than those started by a male entrepreneur. Findings from the literature on the subject and the numbers found in this study suggest that there is a need for specific programs in Saxion targeting females, to at least think about starting their own business. Also, specific mentoring programs for spin-offs with female entrepreneurs may help to let these businesses grow and increase their regional economic impact. Saxion spin-offs can be found in many different sectors, something understandable given the broad spectrum of study programs in Saxion. Even though most spin-offs remain micro sized businesses, certain economic sectors seem to offer better scalable business models, especially in sectors such as industry, information and communication technology businesses and business support services. The number as well as employment in the more innovative and internationally competitive topsectors is much higher in the region Twente than in the Cleantech Region, possibly another consequence of the – apparently – stronger regional entrepreneurial ecosystem in Twente. An often-stated argument for regional economic development is that investing in spin-off companies will help to create workplaces in the region, since companies are not very likely to move. In this study, the data on migration of spin-offs have been compared with the migration of graduates, based on the HBO-monitor survey. It is not possible to one-on-one compare the two datasets, as the migration of spin-offs is calculated for the first five years of their existence and the HBO-monitor is held around one and a half year after graduation. Still, w
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Henry G, Burnett, and Bret Louis-Alexis. Part I Host States, Mining Companies, and Mining Projects, 3 Other Actors in the Mining Industry. Oxford University Press, 2017. http://dx.doi.org/10.1093/law/9780198757641.003.0003.

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This chapter focuses on players other than Host States and mining companies in the mining industry. These include prospectors, geologists, mining engineers, metallurgical engineers, trading houses, smelters, assayers, and investment banks. Prospectors play an important role in generating showings (evidence of localized mineralization), which are later optioned, acquired, or explored by mining companies. Geologists specialize in exploring and identifying new mines. Mining engineers specialize in mine design while metallurgical engineers devise and design the processes and physical installations necessary to process raw ore into refined metals or minerals. Most mining companies do not market or sell their production, relying instead on trading houses to buy their output, or selling it to large industrial users under long-term supply and purchase agreements. Smelters process the ore mined into refined metals. Assayers perform the chemical and metallurgical tests on samples of ores or minerals to determine the amount of valuable metals contained. Investment banks arrange the financing for mining projects. These different actors and activities entail specific risks and varying potential for international disputes.
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Snyder, Jeremy. Exploiting Hope. Oxford University Press, 2020. http://dx.doi.org/10.1093/med/9780197501252.001.0001.

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One often hears stories of people in terrible and seemingly intractable situations who are preyed upon by individuals offering empty promises of help. Frequently these cases are condemned as “exploiting the hope” of another. These accusations are made in a range of contexts, including human smuggling, the beauty industry, and unproven medical interventions. This concept is meant to do heavy lifting in public discourse, identifying a specific form of unethical conduct. However, it is poorly understood what is meant to be wrong by the accusation of exploiting hope, the range of activities that can accurately be captured under this concept, and what should be done about it. Thus, it is an ethical concept that is ripe for extended analysis and discussion. This book offers a close study of the concept of exploiting hope. First, it examines this concept in the abstract, including a close look at how this term is used in the popular press and individual examinations of the concepts of exploitation and hope. This theory-based section culminates in the author’s own account of what it is to exploit hope and when and why doing so is morally problematic. The second section of the book examines how hope for improved health from unproven medical interventions can be exploited. This includes exploitation of hope in the context of participants in clinical trials, purchasing unproven stem cell interventions, right to try legislation, and crowdfunding for unproven interventions.
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Lee, Joonkoo. Global Commodity Chains and Global Value Chains. Oxford University Press, 2017. http://dx.doi.org/10.1093/acrefore/9780190846626.013.201.

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A commodity chain refers to “a network of labor and production processes whose end result is a finished commodity.” The attention given to this concept has quickly translated into an expanding body of global chains literature. Research into global commodity chains (GCC), and later global value chains (GVC), is an endeavor to explain the social and organizational structure of the global economy and its dynamics by examining the commodity chains of a specific product of service. The GCC approach first emerged in the mid-1980s from world-system research and was reformulated in the early 1990s by development scholars. The development-oriented GCC approach turned the focus of GCC analysis to actor-centered processes in the global economy. One of the initial criticisms facing the GCC approach was its exclusive focus on internal conditions and organizational linkages, lacking systemic attention to the effect of domestic institutions and internal capacity on economic development. Other critics pointed to the narrow scope of GCC research. With the huge expansion in global chains literature in the past decade—not only in volume but also in depth and scope—efforts have been made to elaborate the global chains framework and to render it industry neutral, as partly reflected in the adoption of the term “global value chains.” Three key research themes surround these recent evolutions of global chains literature: GVC governance, “upgrading,” and the social construction of global value chains. Existing literature, however, still has theoretical and methodological gaps to redress.
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De Laurentis, Giacomo, Eugenio Alaio, Elisa Corsi, Emanuelemaria Giusti, Marco Guairo, Carlo Palego, Luca Paulicelli, et al. Rischio di credito 2.0. AIFIRM, 2021. http://dx.doi.org/10.47473/2016ppa00030.

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The EBA Guidelines on loan origination and monitoring (hereinafter "GL LOM") undoubtedly represent a substantially new piece of the banking regulatory framework. In fact, for the first time, the regulator moves into a topic that was traditionally outside the scope of financial regulation, so far almost exclusively focused on aspects directly linked to both micro- and macro-prudential stability, notably through capital and liquidity management requirements and guidelines on Business Model and Internal Governance. The credit management process, and in particular loan origination and monitoring, has always been typically considered as a business issue under sole responsibility of banks, as it is considered one of the "core" processes (if not the "core" process) of the banking business. As a matter of fact, since the issue of the capital requirement regulation (i.e., Basel II and Basel III), and the introduction of the use requirements for the rating systems, the regulator moved very close, but not yet, to prescribe specific credit assessment criteria, while dictating methodological and organizational requirements for the authorization of the rating systems, and leaving substantial freedom to banks to define their own models and embedded assessment criteria and indicators. With the GL LOM, the regulator takes a further step, remarkably beyond its traditional remit, dictating principles and rules for the evaluation of the credit quality of borrowers. The starting point for this new approach from the regulator can be found in the ECB guidelines on Non-Performing Loans, later endorsed by the Bank of Italy Guidelines for Less Significant Banks, aimed at encouraging banks to define their NPL management processes and establish reduction plans to achieve NPL ratio targets in line with the regulator's expectations. Consistently with the focus on NPL, the regulation on Calendar Provisioning, amending the CRR was issued; as being a Regulation, it involves all banks, and not only significant ones (for which the ECB Addendum also applies). In addition, the new definition of default (the so-called "new Dod") has defined stricter criteria for the transition of exposures to the default status and also made the return of "cured" exposures to the performing status more difficult. The combined effect of these regulatory changes has been to make the default of counterparties not only more probable but also much more "expensive" for the banks. The natural “next step” of these regulatory changes was to "move backward" into the management process covering loan origination and monitoring . The EBA's stated objective with the issuance of the GL LOM is to define "robust and prudent" standards of lending practices so as to maintain a low level of NPLs in the future. Therefore, the focus of the GL LOM is the definition of requirements (some outlined as prescriptions, others in terms of principles) for the creditworthiness assessment of counterparties and for the management of the related data and information. Notwithstanding the fact that the Final Report has articulated the principle of proportionality much more clearly as compared to the Consultation Paper, the GLs set out three macro-categories of counterparties for which specific requirements are defined: • Individuals • Micro and small businesses • Medium and large companies. The GL LOM also provide recommendations about the valuation of guarantees both at origination and during ongoing monitoring, encouraging the use of advanced statistical models. The GL LOM focus on real estate guarantees, while financial collateral is outside the scope of the GL LOM. In the mind of the regulator, the GL LOM should not only reflect industry practices, but also incorporate the latest supervisory guidance on lending, and provide the stimulus to include ESG, AML/CTF and the use of innovative technologies into banking origination and, where applicable, monitoring processes.
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Book chapters on the topic "Industry-specific terms"

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Yavuzcan Yildiz, Hijran, Vladimir Radosavljevic, Giuliana Parisi, and Aleksandar Cvetkovikj. "Insight into Risks in Aquatic Animal Health in Aquaponics." In Aquaponics Food Production Systems, 435–52. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-15943-6_17.

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AbstractIncreased public interest in aquaponics necessitates a greater need to monitor fish health to minimize risk of infectious and non-infectious disease outbreaks which result from problematic biosecurity. Fish losses due to health and disease, as well as reporting of poor management practices and quality in produce, which could in a worst-case scenario affect human health, can lead to serious economic and reputational vulnerability for the aquaponics industry. The complexity of aquaponic systems prevents using many antimicrobial/antiparasitic agents or disinfectants to eradicate diseases or parasites. In this chapter, we provide an overview of potential hazards in terms of risks related to aquatic animal health and describe preventive approaches specific to aquaponic systems.
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Gragnaniello, Diego, Francesco Marra, and Luisa Verdoliva. "Detection of AI-Generated Synthetic Faces." In Handbook of Digital Face Manipulation and Detection, 191–212. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-87664-7_9.

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AbstractIn recent years there have been astonishing advances in AI-based synthetic media generation. Thanks to deep learning methods it is now possible to generate visual data with a high level of realism. This is especially true for human faces. Advanced deep learning tools allow one to easily change some specific attributes of a real face or even create brand new identities. Although this opens up a large number of new opportunities, just think of the entertainment industry, it also undermines the trustworthiness of media content and supports the spread of fake identities over the internet. In this context, there is a fundamental need to develop robust and automatic tools capable of distinguishing synthetic faces from real ones. The scientific community is making a huge research effort in this field, proposing several interesting approaches. However, a universal detector is yet to come. Fundamentally, the research in this field is like a cat and mouse game, with new detectors that are designed to deal with powerful synthetic face generators, while the latter keep improving to produce more and more realistic images. In this chapter we will present the most effective techniques proposed in the literature for the detection of synthetic faces. We will analyze their rationale, present real-world application scenarios , and compare different approaches in terms of accuracy and generalization ability.
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DeYoung, Alan J., Zumrad Kataeva, and Dilrabo Jonbekova. "Higher Education in Tajikistan: Institutional Landscape and Key Policy Developments." In Palgrave Studies in Global Higher Education, 363–85. Cham: Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-52980-6_14.

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AbstractHigher education in Tajikistan has undergone substantial changes over the past 25 years as a result of both its internal crises and those social and economic transition challenges seen throughout the Newly Independent States (NIS). HEIs in the country have also shown eagerness to change and grow as they move toward world education space. In this chapter, we examine the evolution of the Tajik system of higher education from the Soviet time through independence (1991–2015) in terms of growth, emerging landscape and diversification, and key policy developments and issues. We analyze these changes in the context of relevant economic, social and political factors, and rely on a comparative analysis in understanding the commonalities and differences in higher educational landscapes between Tajikistan and others in the NIS. Institutional diversity has occurred in the country along several dimensions. Among these is a geometric expansion of the number of HEIs: Those transformed from preexisting Soviet institutes as well as the establishment of many new ones. This has been fueled partly by the mass creation of new programs that reflect the needs of an emerging knowledge-based economy but also the result of parental craving for higher education for their children—regardless of market demands. Specific features of the massification of higher education in Tajikistan are further explained by internationalization according to the Bologna Process and other globalization agendas; the establishment of international HEIs under bilateral government agreements (with Russia), and significantly increasing HEI programs and enrolments in far-flung regions of the country—especially in programs related to industry and technology. Our analyses are based on a variety of official statistical sources; educational laws, institutional documents and reports published by international organizations; accounts from the English-language press; and open-ended interviews conducted by the authors in Tajikistan between 2011 and 2014.
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Pillmayer, Markus, Nicolai Scherle, and Katerina Volchek. "Destination Management in Times of Crisis - Potentials of Open Innovation Approach in the Context of COVID-19?" In Information and Communication Technologies in Tourism 2021, 517–29. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-65785-7_49.

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AbstractThe COVID-19 pandemic has led the tourist industry to a standstill. It also creates the potential to change both the global tourism industry and the context in which innovation management takes place in the medium to long term. The web-based open innovation approach provides one of the possibilities to uncover technical opportunities in the context of rapidly changing environment. This article takes a qualitative approach to explore the benefits of open innovation approach for destination management organizations (DMOs). The analysis of 15 semi-structured interviews reveals nine specific benefits that arise from the three types of open innovation. The findings deepen an understanding of the potential that the open innovation approach offers for DMOs. The study further creates a background to collaborative tourist recovery COVID-19 pandemic through smart destination ecosystems.
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Hess, Anne. "Crossing Disciplinary Borders to Improve Requirements Communication." In Ernst Denert Award for Software Engineering 2020, 115–41. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-83128-8_7.

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AbstractSoftware requirements specifications (SRS) serve as an important source of information for a variety of roles involved in software engineering (SE) projects. This situation poses a challenge to requirements engineers: Different information needs have to be addressed, which are strongly dependent on the particular role(s) that SRS stakeholders have within a project. This chapter summarizes the contributions of a thesis that aimed to address and reduce role-specific defects in SRS that negatively influence the efficient usage and acceptance of these documents. To achieve this goal, we collected empirical data about role-specific information needs in a series of empirical studies that served as a baseline for a secondary analysis toward the definition of role-specific views. Moreover, we realized a proof-of-concept implementation that is capable of generating role-specific views on SRS. The results of a case study revealed that role-specific views have the potential to efficiently support SRS consumers during the analysis of a given SRS. Besides conducting further empirical studies in industry, future work aims to foster cross-disciplinary collaboration and requirements communication, especially in agile teams. Thereby, we are exploring synergy potential with best practices from non-SE disciplines.
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Collins, Nathalie, Jeff Volkheimer, and Jamie Murphy. "Who's Who." In Handbook of Research on the Impact of Fandom in Society and Consumerism, 1–17. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-1048-3.ch001.

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Industry and academic circles continue to attempt to label brand community behaviours, borrowing analogies from subcultures such as religion (“evangelists”), slang (“geeks, mavens, haters”), science fiction (“fanboys”), and science (“alpha”). Although sometimes used as generic terms, upon examination, these and other such labels, can define the spectrum of brand attachment in a specific way—through narrative, metaphor, and cross-cultural labelling. Such labelling is happening already. This chapter parses the current meaning of one term from another into a folksonomy, or classification system developed by those steeped in the culture. This segmentation enables further research into specific fan types, along with industry recommendations for approaching each segment based on the behavioural characteristic inherent in both the historic and common usage of the word. It also moves toward the standardisation of these terms in industry and academic circles in order to further enable a lingua franca relating to this phenomenon.
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Collins, Nathalie, Jeff Volkheimer, and Jamie Murphy. "Who's Who." In Research Anthology on Fandoms, Online Social Communities, and Pop Culture, 84–100. IGI Global, 2022. http://dx.doi.org/10.4018/978-1-6684-4515-0.ch006.

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Industry and academic circles continue to attempt to label brand community behaviours, borrowing analogies from subcultures such as religion (“evangelists”), slang (“geeks, mavens, haters”), science fiction (“fanboys”), and science (“alpha”). Although sometimes used as generic terms, upon examination, these and other such labels, can define the spectrum of brand attachment in a specific way—through narrative, metaphor, and cross-cultural labelling. Such labelling is happening already. This chapter parses the current meaning of one term from another into a folksonomy, or classification system developed by those steeped in the culture. This segmentation enables further research into specific fan types, along with industry recommendations for approaching each segment based on the behavioural characteristic inherent in both the historic and common usage of the word. It also moves toward the standardisation of these terms in industry and academic circles in order to further enable a lingua franca relating to this phenomenon.
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Arora, Manpreet, and Sandeep Kumar Walia. "From Earning Profits to Sustainability." In Corporate Social Responsibility in the Hospitality and Tourism Industry, 162–68. IGI Global, 2016. http://dx.doi.org/10.4018/978-1-4666-9902-1.ch013.

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In India the potential of tourism sector is considerable in terms of earning foreign exchange. That is why the government has initiated many programmes and schemes to attract foreign tourists. It has also given a rise to the allied industries to earn profits and diversify may it be hotel industry or aviation sector. As the means of communication are developing and the countries are becoming more open and globalised the tourism industry has got new impetus and dimensions. The spread of education and the development of internet have widened the scope of this industry. This new trend has made the tourism industry a very potential industry in many terms for a developing nation like India. But on the same hand it has posed a great threat to the natural resources also and the stakeholders involved in this sector has started responding to such initiatives through CSR measures. For measuring such initiatives no specific parameters have been defined and they are subjective to a great extent. Therefore a need arises to analyse such initiatives and their growing need for creating sustainability.
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Çetin, Murat. "The Role of Architecture on Tourism Industry." In Global Hospitality and Tourism Management Technologies, 102–15. IGI Global, 2012. http://dx.doi.org/10.4018/978-1-61350-041-5.ch007.

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This chapter aims to shed light on the nature of architecture, its technological and cultural ramifications on tourism industry. It elucidates the background of issues regarding the interaction between the fields of cultural production (architecture) and cultural consumption (tourism). The chapter argues that power of tourism industry has reached, under the pressure of global economics, to a capacity to turn even daily architecture into instruments of touristic show. In this context, technology is utilized as an instrument to produce such iconography only as a surface articulation. Thus, architecture becomes a commodity of touristic consumption in this current socio-economic and cultural context. The pressure of tourism industry seems to create a significant split between the architecture and its location in terms of specific cultural roots. This tendency is discussed as a potential threat to sustainability of tourism industry itself since it damages its own very source, that is to say, richness of cultural differences.
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Arora, Manpreet, and Sandeep Kumar Walia. "From Earning Profits to Sustainability." In Sustainable Tourism, 229–35. IGI Global, 2019. http://dx.doi.org/10.4018/978-1-5225-7504-7.ch012.

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In India the potential of tourism sector is considerable in terms of earning foreign exchange. That is why the government has initiated many programmes and schemes to attract foreign tourists. It has also given a rise to the allied industries to earn profits and diversify may it be hotel industry or aviation sector. As the means of communication are developing and the countries are becoming more open and globalised the tourism industry has got new impetus and dimensions. The spread of education and the development of internet have widened the scope of this industry. This new trend has made the tourism industry a very potential industry in many terms for a developing nation like India. But on the same hand it has posed a great threat to the natural resources also and the stakeholders involved in this sector has started responding to such initiatives through CSR measures. For measuring such initiatives no specific parameters have been defined and they are subjective to a great extent. Therefore a need arises to analyse such initiatives and their growing need for creating sustainability.
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Conference papers on the topic "Industry-specific terms"

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Little, James H., Jeffrey L. Kauffman, and Matthias Huels. "Academic Blade Geometries for Baseline Comparisons of Industry-Specific Forced Response Predictions." In ASME Turbo Expo 2017: Turbomachinery Technical Conference and Exposition. American Society of Mechanical Engineers, 2017. http://dx.doi.org/10.1115/gt2017-64877.

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Predicting the energy dissipation associated with contact of underplatform dampers remains a critical challenge in turbomachinery blade and friction damper design. Typical turbomachinery blade forced vibration response analyses rely on reduced order models and simplified nonlinear codes to predict blade vibration characteristics in a computationally tractable manner. Recent research has focused on both the model reduction process and simulation of the contact dynamics. This paper proposes two academic turbine blade geometries with coupled underplatform dampers as vehicles by which these model reduction and forced response simulation techniques may be compared. The blades correspond to two types of freestanding turbine blades and demonstrate the same qualitative behavior as more complex industry geometries. The blade geometries are fully described here and analyzed using the same procedure as used for an industry-specific blade. Standard results are presented in terms of resonance frequency, amplitude, and damping across a range of aerodynamic excitation. In addition, the predicted blade vibration characteristics are examined under variations in the contact interface: friction coefficient, damper / platform surface roughness, and damper mass, with relative sensitivities to each term generated. Finally, the effect of the number of modes retained in the reduced order model is studied to uncover patterns of convergence as well as to provide additional sets of standard data for comparison with other model reduction and forced response simulation methods.
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Cosham, Andrew, Phil Hopkins, and Brian Leis. "Crack-Like Defects in Pipelines: The Relevance of Pipeline-Specific Methods and Standards." In 2012 9th International Pipeline Conference. American Society of Mechanical Engineers, 2012. http://dx.doi.org/10.1115/ipc2012-90459.

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Oil and gas transmission pipelines have a good safety record; however, like any engineering structure, pipelines do occasionally fail. The main causes of pipeline failures in North America and Europe are defects, such as damage due to external interference, corrosion defects, or material defects. Consequently, the pipeline industry developed its own ‘pipeline-specific’ methods for assessing the significance of these defects. These pipeline-specific methods have their origins in fracture mechanics, but the complexity of the underlying failure mechanisms was addressed through empiricism. Over the intervening years, more accurate ‘pipeline-specific’ methods have been developed that better model the underlying failure mechanisms. The toughness of line pipe steels is typically characterised in terms of the Charpy V-notch impact energy. This is a qualitative measure of toughness. The pipeline-specific methods use empirical correlations between Charpy V-notch impact energy and fracture toughness. In parallel to the development of the pipeline-specific methods, fracture mechanics has been generalised in standards such as BSI 7910: 2005 and API 579-1/ASME FFS-1, using the ‘failure assessment diagram’ (FAD). The pipeline-specific methods and the methods in these general (‘generic’) standards have common roots. The pipeline industry has used its pipeline-specific methods for 50 years, as there was little need to use the generic methods. This was because most of the defects detected in pipelines were corrosion or damage (e.g. dents), where pipeline-specific methods were well-researched and validated. The increasing sophistication of in-line inspection methods (‘intelligent pigs’) in the pipeline industry mean that cracks in pipelines are now easily detected. Additionally, recent failures caused by crack-like defects (e.g. the San Bruno failure in the USA in 2010), mean that the industry needs guidance on how to assess these crack-like defects. There is little or no guidance on pipeline-specific methods for crack-like defects. Therefore, the industry has adopted the generic methods, without any evaluation of their relevance or accuracy. The similarities and differences between the generic and pipeline-specific methods for crack-like defects in pipelines are illustrated in this paper through comparison with published full-scale test data for pipes containing notches and cracks. The significance of correlations between Charpy V-notch impact energy and fracture toughness is highlighted. In conclusion, a commentary is given on how and when to take advantage of either approach. The critical gaps in the existing methods are also identified.
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Drazumeric, Radovan, Jeffrey Badger, Janez Kopac, and Peter Krajnik. "Thermal Aspects and Grinding Aggressiveness in View of Optimizing High-Performance Grinding Operations in the Automotive Industry." In ASME 2014 International Manufacturing Science and Engineering Conference collocated with the JSME 2014 International Conference on Materials and Processing and the 42nd North American Manufacturing Research Conference. American Society of Mechanical Engineers, 2014. http://dx.doi.org/10.1115/msec2014-3993.

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This paper first reviews early contributions to modeling and analysis of thermal aspects in grinding. The role of specific energy in the determination of grinding temperatures is then discussed with respect to both chip thickness and grinding aggressiveness. The underlying modeling of cylindrical grinding is given in general terms, enabling calculation of the instantaneous geometry, kinematics and temperature for any workpiece form. The focus is on the recently developed concept of constant-temperature grinding, which entails choosing process parameters based on a thermal model for achieving a constant temperature and then optimizing the grinding process for either shorter cycle times or higher quality while applying constant temperature. Machine limitations — in terms of maximum speed, acceleration, and jerk in the headstock and wheelhead movement — are considered in the optimization. Case studies and experimental work are presented for high-performance industrial cam-lobe grinding used in the automotive industry.
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McDonnell, Shamus, and Robert Simmons. "Pipeline ALIAS: A Universal Nomenclature System for the Pipeline Industry." In 2002 4th International Pipeline Conference. ASMEDC, 2002. http://dx.doi.org/10.1115/ipc2002-27362.

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Currently there is no universally accepted nomenclature system used in the pipeline industry. Typically each vendor or operator uses their own terminology based on relevant codes, training, and experience. This creates a problem when correlating Inline Inspection data with Non Destructive Evaluation and Metallurgical Sectioning results. This paper’s intention is to introduce a classification system that is independent of both vendor & operator specific terminology. In developing this universal nomenclature system, the authors consulted various pipeline operators and related regulatory bodies, as well as other publicized nomenclature sources. Once all the terms were compiled they were then merged, classified, and indexed. This indexed classification system will reflect the abilities and limitations of the three inspection methods and how they relate to each other so that proper correlation can be achieved.
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Vatansever Toylan, Nilüfer, and Fatih Semerciöz. "Inter-Organizational Relations in Hospitality Industry in the form of Strategic Alliance and a Model Suggestion." In International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00741.

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In this study, strategic alliances are discussed from the perspective of hospitality industry and inter organizational relation factors that regulate the formation of strategic alliances have been revealed in hospitality industry. In addition, the relations between inter organizational relation factors, knowledge sharing and organizational innovativeness are raised within the scope of the literature and a model is proposed. In this context, with review of literature, relation factors between hospitality businesses that affects knowledge sharing are examined. These factors are specified as inter organizational trust, the intention of learning, shared vision, communication, (partner-specific) absorptive capacity and commitment. Knowledge sharing and innovativeness variables are especially important in terms of competitive advantage in the market for hospitality strategic alliances. Thus, the main problem of the study is to investigate the relationships between all of these variables.
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Bijelić, Zdravko, Biljana Milanović, and Mitar Bijelić. "Model of Optimal System Management in the Military Process Industry in the Conditions of the COVID-19 Pandemic." In 34th International Congress on Process Industry. SMEITS, 2021. http://dx.doi.org/10.24094/ptk.021.34.1.67.

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The paper deals with the problem of research related to the systemic problem of optimal management related to the military process industry in the environment covid-19. The developed model enables the application of soft mathematics technology to make reliable decisions related to the field of business of the military process industry. Using the method of analogy, the developed model for optimal process industry management can be used for systems in other areas as well. Unlike various models that were developed before the covid-19 pandemic, this model puts the health safety factor in the first place in terms of evaluation.With the appearance of the covid-19 pandemic, a security factor in the military industry, and above all the process is further complicated, and thus the system optimization of management. The paper shows the possible application of the model on a specific production system in the field of military process industry. Research shows that at all levels of management in the conditions of the covid-19 pandemic, there was no systematic approach to management optimization in which the safety factor is in the first place.Successful modeling of such complex systems is not possible without the application of multidisciplinary knowledge such as: engineering-technical, medical-health, security, economic, socio-psychological, educational and soft mathematics. In the education system, developmental changes are needed in the function of educating a larger number of staff who possess multidisciplinary knowledge.
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Veeramani, Dharmaraj, and Ramarao Garikapati. "XML Based Markup Languages for Knowledge Management in Manufacturing Companies." In ASME 2000 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. American Society of Mechanical Engineers, 2000. http://dx.doi.org/10.1115/detc2000/cie-14603.

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Abstract The manufacturing industry is facing many new challenges including redefined customer expectations in the E-Commerce era. The consumer is now better informed, more demanding and has higher expectations in terms of product features, product performance and service. To respond to these expectations companies are seeking to leverage the collective experience of the organization and the consequent knowledge gained to deliver improved performance in product and service. However, some fundamental issues pertaining to formal and unambiguous definition of terms and semantics of the information to be stored and retrieved need to be addressed in the manufacturing industry to fully leverage Intranet enabled knowledge management. The formalization of such unambiguous vocabularies can be achieved through the construction of Industry Specific Markup Languages (ISMLs). In this paper, we present XML based ISMLs, Machining Markup Language (MML) and Foundry Markup Language (FML) for the machining and foundry industries respectively and illustrate proof-of-concept knowledge management applications or TOMEs (Treasury for manufacturing Experience) that use the ISMLs as the underlying data models.
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Jayaram, Uma, Sankar Jayaram, Charles DeChenne, Young Jun Kim, Craig Palmer, and Tatsuki Mitsui. "Case Studies Using Immersive Virtual Assembly in Industry." In ASME 2004 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. ASMEDC, 2004. http://dx.doi.org/10.1115/detc2004-57714.

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The Virtual Assembly Technology Consortium is a university/government/industry consortium that seeks to investigate the application of virtual assembly methods in mechanical system assembly processes. In this paper we report three categories of engineering case studies that have been developed by the consortium members over the past two years, describe the overall methodology, and then proceed to feature specific details of two key case studies. An engineering case study has been defined as an account of an engineering activity, event or problem containing some of the background and complexities actually encountered by an engineer, with the objective of providing a medium for learning. The objective of the case studies was to assist consortium members in demonstrating and validating the use of immersive virtual assembly technologies and tools in the simulation of factory floor manufacturing processes. What is of special significance is that instead of modeling simplified problems or perceived representative situations, the case studies were constructed from actual assembly floor projects and situations encountered at industry member sites and with considerable participation from industry engineers and manufacturing shop floor personnel. Based on the success of the case studies, the consortium members inferred that virtual assembly methods are poised to move out of the realm of special projects and test scenarios to deployment in the actual design and manufacturing cycle. However, in order to be truly accepted in industry, there are still issues to be addressed in terms of ease of use, portability of the applications, and preparation of the models for the evaluations. Thus, the case studies added a new dimension to the exploration and understanding of how this new technology could be of practical value in industry.
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Antypes, I. R., and V. V. Zaitsev. "COMPARATIVE CHARACTERISTICS OF PHYSICAL AND MECHANICAL PROPERTIES OF COMPOSITE MATERIALS AND HIGH-STRENGTH STEEL 30FGSN2A." In STATE AND DEVELOPMENT PROSPECTS OF AGRIBUSINESS. DSTU-PRINT, 2020. http://dx.doi.org/10.23947/interagro.2020.1.352-355.

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Currently, the use of composite materials is increasingly used in various areas of the national economy, including the aviation industry. The materials of this article are devoted to the study of the use of composite materials for the manufacture of aircraft landing gear in comparison with the traditionally used brand of steel. As a result of the work carried out, it was found that the slope made of carbon fiber showed a critical stress twice as high as its design made of 30xgsn2a steel. In addition, carbon plastics are superior to high-strength steel in terms of specific strength, stiffness, and tensile strength.
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Patil, Abhay, Burak Ayyildiz, Sahand Pirouzpanah, Adolfo Delgado, and Gerald Morrison. "Predictive Model for Two-Phase Flow Performance of Mixed Flow Pumps." In ASME-JSME-KSME 2019 8th Joint Fluids Engineering Conference. American Society of Mechanical Engineers, 2019. http://dx.doi.org/10.1115/ajkfluids2019-5486.

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Abstract Multiphase pumps are increasingly being used to transport gas-liquid multiphase flow in the oil and gas industry. Complexity of two-phase flow interaction and varying designs of multiphase pumps pose significant challenges to developing generalized performance prediction tool similar to the affinity laws. The goal of this study is to characterize the performance of two multiphase pumps with different specific speeds using experimental data to develop generalized prediction models. Initially, the performance is investigated in the terms of head, power input and efficiency for different Gas Volume Fractions (GVF). Dimensional analysis is performed to evaluate the effect of pump geometry and GVF. Head degradation due to the presence of gas is presented in the terms of dimensionless numbers. These numbers represent the systematic change in the energy loss due to two phase flow interaction and inherent characteristics of the pump design. This is utilized to develop a generalized model for two phase flow. The study is concluded by validating the model using experimental data.
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Reports on the topic "Industry-specific terms"

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Montgomery, Doug, Mark Carson, Timothy Winters, Michayla Newcombe, and Timothy Carlin. NIST IPv6 Profile. National Institute of Standards and Technology, November 2020. http://dx.doi.org/10.6028/nist.sp.500-267ar1.

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This profile establishes a basic taxonomy of IPv6 capabilities, defined in terms of IETF specifications, resulting in specific capability labels for common network functions and usage scenarios. The profile maps each such labeled capability to one or more specific technical specifications, or parts of specifications. Each labeled capability adopts by reference the normative requirements of the cited specifications. In rare cases the profile may augment or modify the normative requirements of a base specification. The defined capability labels effectively form a vocabulary for expressing IPv6 requirements for, and documenting the IPv6 capabilities of, specific products. It is expected that, when combined with specific acquisition and product testing programs, this profile can facilitate the efficient adoption of IPv6 technologies in many industry sectors.
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Olsson, Olle. Industrial decarbonization done right: identifying success factors for well-functioning permitting processes. Stockholm Environment Institute, November 2021. http://dx.doi.org/10.51414/sei2021.034.

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1 Introduction 1.1 The urgency of industrial decarbonization The last few years have seen several of the world’s largest carbon dioxide-emitting countries and leading heavy industry companies committing to mid-century net-zero targets (Buckley 2021; Denyer and Kashiwagi 2020; McCurry 2020; Myers 2020). Consequently, the discussion on economy-wide transition to net-zero is accelerating, with focus shifting from “if” to “when” and “how”, even for heavy industry sectors like steel, cement and chemicals. This makes it increasingly urgent to analyse not just whether it is technologically feasible to decarbonize heavy industry, but also investigate issues more directly related to practical implementation. This includes site-specific planning, infrastructure availability, and consultation with local authorities and other stakeholders. Many of the latter considerations are formalized as part of the permitting processes that are an essential vehicle to ensure that industrial interests are balanced against interests of society at large. However, doing this balancing act can turn out to be very complicated and associated with uncertainties as to their outcome, as well as being demanding in resources and time. At the same time, to ensure broad buy-in and support from society, the investments needed must be implemented in a way that takes a broad spectrum of sustainability concerns into account, not just climate change mitigation. A key question is if and how permitting processes can run more smoothly and efficiently while still ensuring inclusive consultations, fair procedures and adherence to legal certainty. This policy brief discusses this question from the starting point of Swedish conditions, but many of the points raised will be relevant for a broader international discussion on taking industrial decarbonization to implementation. 1.2 Industrial transition and permitting processes in Sweden Decarbonization of the industrial sector in Sweden essentially entails a relatively small number of investment projects in the cement, steel, petrochemical and refinery sectors, where the vast majority of carbon emissions are concentrated (Karltorp et al. 2019; Nykvist et al. 2020). However, while few in number, the size of these investments means that their implementation will by necessity become relevant to many other parts of society. In connection with the increasing focus on how to implement industrial decarbonization in Sweden, discussions about permitting processes have been brought higher up on the agenda. While there has been an active discussion on permitting processes in Sweden for quite some time, it has primarily been focused on aspects related to mining and wind power (Larsen et al. 2017; Raitio et al. 2020). The last few years have, however, focused increasingly on industrial projects, in particular related to a proposed – though eventually cancelled – expansion of an oil refinery in the southwestern part of the country (Blad 2020). In terms of political discussions, both the governmental initiative Fossil-free Sweden (2020) and the Swedish Climate Policy Council (2020) emphasize that permitting processes need to become faster in order for Sweden’s industrial transition to be implemented in line with the time plan set by the 2017 Swedish Climate Act. Business representatives and organizations are also voicing concerns about the slow speed of permitting (Balanskommissionen 2019; Jacke 2018). At the same time, criticism has been raised that much of the environmental damage done in Sweden comes from activities conducted within limits set by environmental permits, which could be a flaw in the system (Malmaeus and Lindblom 2019). Finally, recent public inquiries have also discussed permitting processes.
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Shpigel, Nahum Y., Ynte Schukken, and Ilan Rosenshine. Identification of genes involved in virulence of Escherichia coli mastitis by signature tagged mutagenesis. United States Department of Agriculture, January 2014. http://dx.doi.org/10.32747/2014.7699853.bard.

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Mastitis, an inflammatory response of the mammary tissue to invading pathogenic bacteria, is the largest health problem in the dairy industry and is responsible for multibillion dollar economic losses. E. coli are a leading cause of acute mastitis in dairy animals worldwide and certainly in Israel and North America. The species E. coli comprises a highly heterogeneous group of pathogens, some of which are commensal residents of the gut, infecting the mammary gland after contamination of the teat skin from the environment. As compared to other gut microflora, mammary pathogenic E. coli (MPEC) may have undergone evolutionary adaptations that improve their fitness for colonization of the unique and varied environmental niches found within the mammary gland. These niches include competing microbes already present or accompanying the new colonizer, soluble and cellular antimicrobials in milk, and the innate immune response elicited by mammary cells and recruited immune cells. However, to date, no specific virulence factors have been identified in E. coli isolates associated with mastitis. The original overall research objective of this application was to develop a genome-wide, transposon-tagged mutant collection of MPEC strain P4 and to use this technology to identify E. coli genes that are specifically involved in mammary virulence and pathogenicity. In the course of the project we decided to take an alternative genome-wide approach and to use whole genomes bioinformatics analysis. Using genome sequencing and analysis of six MPEC strains, our studies have shown that type VI secretion system (T6SS) gene clusters were present in all these strains. Furthermore, using unbiased screening of MPEC strains for reduced colonization, fitness and virulence in the murine mastitis model, we have identified in MPEC P4-NR a new pathogenicity island (PAI-1) encoding the core components of T6SS and its hallmark effectors Hcp, VgrG and Rhs. Next, we have shown that specific deletions of T6SS genes reduced colonization, fitness and virulence in lactating mouse mammary glands. Our long-term goal is to understand the molecular mechanisms of host-pathogen interactions in the mammary gland and to relate these mechanisms to disease processes and pathogenesis. We have been able to achieve our research objectives to identify E. coli genes that are specifically involved in mammary virulence and pathogenicity. The project elucidated a new basic concept in host pathogen interaction of MPEC, which for the best of our knowledge was never described or investigated before. This research will help us to shed new light on principles behind the infection strategy of MPEC. The new targets now enable prevalence and epidemiology studies of T6SS in field strains of MPEC which might unveil new geographic, management and ecological risk factors. These will contribute to development of new approaches to treat and prevent mastitis by MPEC and perhaps other mammary pathogens. The use of antibiotics in farm animals and specifically to treat mastitis is gradually precluded and thus new treatment and prevention strategies are needed. Effective mastitis vaccines are currently not available, structural components and effectors of T6SS might be new targets for the development of novel vaccines and therapeutics.
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Meiri, Noam, Michael D. Denbow, and Cynthia J. Denbow. Epigenetic Adaptation: The Regulatory Mechanisms of Hypothalamic Plasticity that Determine Stress-Response Set Point. United States Department of Agriculture, November 2013. http://dx.doi.org/10.32747/2013.7593396.bard.

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Our hypothesis was that postnatal stress exposure or sensory input alters brain activity, which induces acetylation and/or methylation on lysine residues of histone 3 and alters methylation levels in the promoter regions of stress-related genes, ultimately resulting in long-lasting changes in the stress-response set point. Therefore, the objectives of the proposal were: 1. To identify the levels of total histone 3 acetylation and different levels of methylation on lysine 9 and/or 14 during both heat and feed stress and challenge. 2. To evaluate the methylation and acetylation levels of histone 3 lysine 9 and/or 14 at the Bdnfpromoter during both heat and feed stress and challenge. 3. To evaluate the levels of the relevant methyltransferases and transmethylases during infliction of stress. 4. To identify the specific localization of the cells which respond to both specific histone modification and the enzyme involved by applying each of the stressors in the hypothalamus. 5. To evaluate the physiological effects of antisense knockdown of Ezh2 on the stress responses. 6. To measure the level of CpG methylation in the promoter region of BDNF in thermal treatments and free-fed, 12-hour fasted, and re-fed chicks during post-natal day 3, which is the critical period for feed-control establishment, and 10 days later to evaluate longterm effects. 7. The phenotypic effect of antisense “knock down” of the transmethylaseDNMT 3a. Background: The growing demand for improvements in poultry production requires an understanding of the mechanisms governing stress responses. Two of the major stressors affecting animal welfare and hence, the poultry industry in both the U.S. and Israel, are feed intake and thermal responses. Recently, it has been shown that the regulation of energy intake and expenditure, including feed intake and thermal regulation, resides in the hypothalamus and develops during a critical post-hatch period. However, little is known about the regulatory steps involved. The hypothesis to be tested in this proposal is that epigenetic changes in the hypothalamus during post-hatch early development determine the stress-response set point for both feed and thermal stressors. The ambitious goals that were set for this proposal were met. It was established that both stressors i.e. feed and thermal stress, can be manipulated during the critical period of development at day 3 to induce resilience to stress later in life. Specifically it was established that unfavorable nutritional conditions during early developmental periods or heat exposure influences subsequent adaptability to those same stressful conditions. Furthermore it was demonstrated that epigenetic marks on the promoter of genes involved in stress memory are altered both during stress, and as a result, later in life. Specifically it was demonstrated that fasting and heat had an effect on methylation and acetylation of histone 3 at various lysine residues in the hypothalamus during exposure to stress on day 3 and during stress challenge on day 10. Furthermore, the enzymes that perform these modifications are altered both during stress conditioning and challenge. Finally, these modifications are both necessary and sufficient, since antisense "knockdown" of these enzymes affects histone modifications, and as a consequence stress resilience. DNA methylation was also demonstrated at the promoters of genes involved in heat stress regulation and long-term resilience. It should be noted that the only goal that we did not meet because of technical reasons was No. 7. In conclusion: The outcome of this research may provide information for the improvement of stress responses in high yield poultry breeds using epigenetic adaptation approaches during critical periods in the course of early development in order to improve animal welfare even under suboptimum environmental conditions.
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Or, Etti, Tai-Ping Sun, Amnon Lichter, and Avichai Perl. Characterization and Manipulation of the Primary Components in Gibberellin Signaling in the Grape Berry. United States Department of Agriculture, January 2010. http://dx.doi.org/10.32747/2010.7592649.bard.

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Seedless cultivars dominate the table grape industry. In these cultivars it is mandatory to apply gibberellin (GA) to stimulate berry development to a commercially acceptable size. These cultivars differ in their sensitivity to GA application, and it frequently results in adverse effects such as decreased bud fertility and increased fruit drop. Our long term goals are to (1) understand the molecular basis for the differential sensitivity and identify markers for selection of sensitive cultivars (2) to develop new strategies for targeted manipulation of the grape berry response to GA that will eliminate the need in GA application and the undesirable effects of GA on the vine, while maintaining its desirable effects on the berry. Both strategies are expected to reduce production cost and meet growing consumer demand for reduced use of chemicals. This approach relies on a comprehensive characterization of the central components in the GA signaling cascade in the berry. Several key components in the GA signaling pathway were identified in Arabidopsis and rice, including the GA receptors, GID1s, and a family of DELLA proteins that are the major negative regulators of the GA response. GA activates its response pathway by binding to GID1s, which then target DELLAs for degradation via interaction with SLY, a DELLA specific F-box protein. In grape, only one DELLA gene was characterized prior to this study, which plays a major role in inhibiting GA-promoted stem growth and GA-repressed floral induction but it does not regulate fruit growth. Therefore, we speculated that other DELLA family member(s) may control GA responses in berry, and their identification and manipulation may result in GA-independent berry growth. In the current study we isolated two additional VvDELLA family members, two VvGID1 genes and two VvSLY genes. Arabidopsis anti-AtRGA polyclonal antibodies recognized all three purified VvDELLA proteins, but its interaction with VvDELLA3 was weaker. Overexpression of the VvDELLAs, the VvGID1s, and the VvSLYs in the Arabidopsis mutants ga1-3/rga-24, gid1a-2/1c-2 and sly1-10, respectively, rescued the various mutant phenotypes. In vitro GAdependent physical interaction was shown between the VvDELLAs and the VvGID1s, and GAindependent interaction was shown between the VvDELLAs and VvSLYs. Interestingly, VvDELLA3 did not interact with VvGID1b. Together, the results indicate that the identified grape homologs serve as functional DELLA repressors, receptors and DELLA-interacting F-box proteins. Expression analyses revealed that (1) VvDELLA2 was expressed in all the analyzed tissues and was the most abundant (2) VvDELLA1 was low expressed in berries, confirming former study (3) Except in carpels and very young berries, VvDELLA3 levels were the lowest in most tissues. (4) Expression of both VvGID1s was detected in all the grape tissues, but VvGID1b transcript levels were significantly higher than VvGID1a. (5) In general, both VvDELLAs and VvGID1s transcripts levels increased as tissues aged. Unfertilized and recently fertilized carpels did not follow this trend, suggesting different regulatory mechanism of GA signaling in these stages. Characterization of the response to GA of various organs in three seedless cultivars revealed differential response of the berries and rachis. Interestingly, VvDELLA3 transcript levels in the GA-unresponsive berries of cv. Spring blush were significantly higher compared to their levels in the highly responsive berries of cv. Black finger. Assuming that VvDELLA2 and VvDELLA3 are regulating berry size, constructs carrying potential dominant mutations in each gene were created. Furthermore, constitutive silencing of these genes by mIR is underway, to reveal the effect of each gene on the berry phenotype.
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Galili, Naftali, Roger P. Rohrbach, Itzhak Shmulevich, Yoram Fuchs, and Giora Zauberman. Non-Destructive Quality Sensing of High-Value Agricultural Commodities Through Response Analysis. United States Department of Agriculture, October 1994. http://dx.doi.org/10.32747/1994.7570549.bard.

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The objectives of this project were to develop nondestructive methods for detection of internal properties and firmness of fruits and vegetables. One method was based on a soft piezoelectric film transducer developed in the Technion, for analysis of fruit response to low-energy excitation. The second method was a dot-matrix piezoelectric transducer of North Carolina State University, developed for contact-pressure analysis of fruit during impact. Two research teams, one in Israel and the other in North Carolina, coordinated their research effort according to the specific objectives of the project, to develop and apply the two complementary methods for quality control of agricultural commodities. In Israel: An improved firmness testing system was developed and tested with tropical fruits. The new system included an instrumented fruit-bed of three flexible piezoelectric sensors and miniature electromagnetic hammers, which served as fruit support and low-energy excitation device, respectively. Resonant frequencies were detected for determination of firmness index. Two new acoustic parameters were developed for evaluation of fruit firmness and maturity: a dumping-ratio and a centeroid of the frequency response. Experiments were performed with avocado and mango fruits. The internal damping ratio, which may indicate fruit ripeness, increased monotonically with time, while resonant frequencies and firmness indices decreased with time. Fruit samples were tested daily by destructive penetration test. A fairy high correlation was found in tropical fruits between the penetration force and the new acoustic parameters; a lower correlation was found between this parameter and the conventional firmness index. Improved table-top firmness testing units, Firmalon, with data-logging system and on-line data analysis capacity have been built. The new device was used for the full-scale experiments in the next two years, ahead of the original program and BARD timetable. Close cooperation was initiated with local industry for development of both off-line and on-line sorting and quality control of more agricultural commodities. Firmalon units were produced and operated in major packaging houses in Israel, Belgium and Washington State, on mango and avocado, apples, pears, tomatoes, melons and some other fruits, to gain field experience with the new method. The accumulated experimental data from all these activities is still analyzed, to improve firmness sorting criteria and shelf-life predicting curves for the different fruits. The test program in commercial CA storage facilities in Washington State included seven apple varieties: Fuji, Braeburn, Gala, Granny Smith, Jonagold, Red Delicious, Golden Delicious, and D'Anjou pear variety. FI master-curves could be developed for the Braeburn, Gala, Granny Smith and Jonagold apples. These fruits showed a steady ripening process during the test period. Yet, more work should be conducted to reduce scattering of the data and to determine the confidence limits of the method. Nearly constant FI in Red Delicious and the fluctuations of FI in the Fuji apples should be re-examined. Three sets of experiment were performed with Flandria tomatoes. Despite the complex structure of the tomatoes, the acoustic method could be used for firmness evaluation and to follow the ripening evolution with time. Close agreement was achieved between the auction expert evaluation and that of the nondestructive acoustic test, where firmness index of 4.0 and more indicated grade-A tomatoes. More work is performed to refine the sorting algorithm and to develop a general ripening scale for automatic grading of tomatoes for the fresh fruit market. Galia melons were tested in Israel, in simulated export conditions. It was concluded that the Firmalon is capable of detecting the ripening of melons nondestructively, and sorted out the defective fruits from the export shipment. The cooperation with local industry resulted in development of automatic on-line prototype of the acoustic sensor, that may be incorporated with the export quality control system for melons. More interesting is the development of the remote firmness sensing method for sealed CA cool-rooms, where most of the full-year fruit yield in stored for off-season consumption. Hundreds of ripening monitor systems have been installed in major fruit storage facilities, and being evaluated now by the consumers. If successful, the new method may cause a major change in long-term fruit storage technology. More uses of the acoustic test method have been considered, for monitoring fruit maturity and harvest time, testing fruit samples or each individual fruit when entering the storage facilities, packaging house and auction, and in the supermarket. This approach may result in a full line of equipment for nondestructive quality control of fruits and vegetables, from the orchard or the greenhouse, through the entire sorting, grading and storage process, up to the consumer table. The developed technology offers a tool to determine the maturity of the fruits nondestructively by monitoring their acoustic response to mechanical impulse on the tree. A special device was built and preliminary tested in mango fruit. More development is needed to develop a portable, hand operated sensing method for this purpose. In North Carolina: Analysis method based on an Auto-Regressive (AR) model was developed for detecting the first resonance of fruit from their response to mechanical impulse. The algorithm included a routine that detects the first resonant frequency from as many sensors as possible. Experiments on Red Delicious apples were performed and their firmness was determined. The AR method allowed the detection of the first resonance. The method could be fast enough to be utilized in a real time sorting machine. Yet, further study is needed to look for improvement of the search algorithm of the methods. An impact contact-pressure measurement system and Neural Network (NN) identification method were developed to investigate the relationships between surface pressure distributions on selected fruits and their respective internal textural qualities. A piezoelectric dot-matrix pressure transducer was developed for the purpose of acquiring time-sampled pressure profiles during impact. The acquired data was transferred into a personal computer and accurate visualization of animated data were presented. Preliminary test with 10 apples has been performed. Measurement were made by the contact-pressure transducer in two different positions. Complementary measurements were made on the same apples by using the Firmalon and Magness Taylor (MT) testers. Three-layer neural network was designed. 2/3 of the contact-pressure data were used as training input data and corresponding MT data as training target data. The remaining data were used as NN checking data. Six samples randomly chosen from the ten measured samples and their corresponding Firmalon values were used as the NN training and target data, respectively. The remaining four samples' data were input to the NN. The NN results consistent with the Firmness Tester values. So, if more training data would be obtained, the output should be more accurate. In addition, the Firmness Tester values do not consistent with MT firmness tester values. The NN method developed in this study appears to be a useful tool to emulate the MT Firmness test results without destroying the apple samples. To get more accurate estimation of MT firmness a much larger training data set is required. When the larger sensitive area of the pressure sensor being developed in this project becomes available, the entire contact 'shape' will provide additional information and the neural network results would be more accurate. It has been shown that the impact information can be utilized in the determination of internal quality factors of fruit. Until now,
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Vargas-Herrera, Hernando, Juan Jose Ospina-Tejeiro, Carlos Alfonso Huertas-Campos, Adolfo León Cobo-Serna, Edgar Caicedo-García, Juan Pablo Cote-Barón, Nicolás Martínez-Cortés, et al. Monetary Policy Report - April de 2021. Banco de la República de Colombia, July 2021. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr2-2021.

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1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.
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