Top 10 ICT Articles in Construction Management

TOP 10 READ/CITED
ARTICLES OF THE MONTH
OCTOBER 2020
INTERNATIONAL JOURNAL OF MANAGING INFORMATION
TECHNOLOGY (IJMIT)
http://airccse.org/journal/ijmit/ijmit.html
ISSN: 0975-5586 (ONLINE); 0975-5926 (PRINT)

DEFINING ICT IN A BOUNDARY LESS WORLD: THE DEVELOPMENT OF A
WORKING HIERARCHY
Colrain M. Zuppo Marion Technical College (MTC)
ABSTRACT
Subsequent to rapid information and communication technology development, the scope of the definition
of Information and Communication Technologies (ICT or ICTs) has been utilized within diverse contexts
including economic development, education, IT, business and personal usage. A review of academic
literature, trade publications and general information was undertaken to establish a hierarchy of
applications for the term ICT or ICTs.
KEYWORDS
ICT, ICTs, education, economics, digital communication, hierarchy
For More Details: http://airccse.org/journal/ijmit/papers/4312ijmit02.pdf
Volume URL: http://airccse.org/journal/ijmit/vol4.html

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AUTHOR
Colrain M. Zuppo earned a PhD in Technology Management from Indiana
State University with a specialization in Human Resource Development and
Industrial Training. Cori’s dissertation research was entitled “Organizations
as consumers of human capital via technology: A policy study of information
and communication technologies”. Cori also holds an M.A.Ed. from The
George Washington University and a B.S. in Conflict Resolution from Ohio
University. Cori is a Professor in the Department of Business and
Information Technology at Marion Technical College (MTC) and served as
part time faculty and doctoral fellow at Bowling Green State University,
conducting research and teaching in the areas of technology management,
academic research and instructional design & delivery.

A REVIEW OF ICT TECHNOLOGY IN CONSTRUCTION
Ehab J.Adwan1
and Ali Al-Soufi2
1&2
Department of Information Systems, University of Bahrain, Kingdom of Bahrain
ABSTRACT
A growing awareness in the construction industry has emerged to pay a sharp attention to ICT as a
catalyst that would mitigate the deficiencies characterized by this industry. In comparison with other
cited review articles, this paper is aimed to 1) compile the research published on “ICT Technologies” in
correspondence to “Construction Tasks” in the construction industry over the past two decades (1996-
2016), 2) demonstrate the trends and patterns in the use of different types of ICT Technologies 3)
discuss the correspondence of the identified ICT Technologies to the identified Construction Tasks and
4) exhibit the construction needs of ICT. By the employment of a five phases profiling methodology, a
set of 68 out of 202 articles and papers indexed by Elsevier’s Scopus database was considered relevant
for the current review paper. This research is targeting the beginning researchers and practitioners in the
field of ICT in construction.
KEYWORDS
Construction industry, Information, Technology, Ict, Construction Tasks, Article review.
FOR MORE DETAILS: http://aircconline.com/ijmit/V8N4/8416ijmit01.pdf
VOLUME LINK: http://airccse.org/journal/ijmit/vol8.html

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International Journal of Managing Information Technology (IJMIT) Vol.8, No.3/4, November 2016 19
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International Journal of Managing Information Technology (IJMIT) Vol.8, No.3/4, November 2016 20
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Journal of Managing Information Technology (IJMIT) Vol.8, No.3/4, November 2016 21

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AAUUTTHHOORR
Ehab J.Adwan is a Ph.D. candidate. He received his M.Sc. degree in Computer
Science in 2004 from the University of Bahrain (UOB) and received his B.Sc.
degree in Electronics and Physics with a minor in Computer in the year 1996 from
The American University in Cairo (AUC). Since 1996, he is working as an
Academic Research and Teaching Assistant (B) at the Department of information
systems- College of Information Technology at the University of Bahrain. His
mainstream research is focused on Enterprise Architecture, Business Architecture,
Information Systems Architecture, Software Architecture, Software
Engineering and Systems Analysis and Design,. Currently, great research emphasis is carried out on the
ICT in Construction industry through an Enterprise Architecture perspective.
Dr. Ali AlSoufi is an Associate professor of Information Systems at University of
Bahrain. He has earned his PhD in Computer science in 1994 from Nottingham
University, UK. He has worked for Bahrain Telecom Co for 8 years as a Senior
Manager Application Programme where he overlooked number of mega IS
Application projects. Worked at Arab Open University as the head of IT program
and Assistant Director for Business Development during 2007-2010. He is a PT
consultant in Bahrain e-Government Authority (EGA) in Enterprise Architecture.
He is an active member of the Bahrain National ICT Governance Committee. His
specializations is Strategic IT Planning and Governance, IT project management,
Enterprise Architecture and IS in Organization

THE CONTRIBUTION OF ELECTRONIC BANKING TO CUSTOMER SATISFACTION:
A CASE OF GCB BANK LIMITED –KOFORIDUA
Martin Otu Offei and Kwaku Nuamah-Gyambrah Koforidua Polytechnic , Ghana
ABSTRACT
Internet banking has the potential to provide fast and reliable services to customers for which they are
relatively happy. Due to the technological changes taking place all over the world, many institutions,
including the banking sector have taken giant steps to move in tandem with these changes. In this light
most banks, with GCB Bank, Ghana, not being an exception have introduced electronic banking in order
to decongest the banking halls of customers who spend time unending in order to transact business. The
purpose of this research was to assess the Contribution of Electronic Banking to Customer Satisfaction at
GCB Bank-Koforidua, to this end some objectives were set for the study. These were: To assess the
availability of electronic banking facilities at GCB Bank, Koforidua. To assess the knowledge and
patronage of internet banking services by customers, to examine the effectiveness of the usage of
electronic banking facilities, to examine the problem facing an internet banking in GCB Bank,
Koforidua. This is a quantitative study that employed the use of questionnaires as the main tools for data
collection. Data was collected from management, staff and customers of GCB Bank, Koforidua Branch.
Findings from analysis of data revealed that though there was the existence of internet banking facilities
of the bank, respondents of the study were not fully aware of the existence of such facilities. It was also
found that the use of internet banking was quite expensive and that though the bank was utilizing the
facility, customers were not fully patronizing them. It was concluded that internet banking brings
efficiency in the operations of the bank. Finally, the study recommended that all branches of GCB Bank
adopt internet banking facilities to help in effective banking operations and transactional purposes. To
maximize the operations and potential of the bank management must endeavor to educate the customers
about the existence of internet banking facilities since a few customers were aware of the existence of
such facilities.
KEYWORDS
Internet banking, customer satisfaction, contribution, Ghana, ATM Cards, master cards, visa, debit &
credit cards
FOR MORE DETAILS: http://aircconline.com/ijmit/V8N1/8116ijmit01.pdf
VOLUME LINK: http://airccse.org/journal/ijmit/vol8.html

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A NEW CONCEPT OF R&D IN NEO OPEN INNOVATION -
TRANSFORMATION OF R&D TRIGGERED BY AMAZON
Yuji Tou1
, Chihiro Watanabe 2, 3
, Kuniko Moriya 2, 4
, Victor Vurpillat5
, Pekka Neittaanmäki2
,
1
Tokyo Institute of Technology, Japan
2
University of Jyväskylä, Finland,
3
International Institute for Applied Systems Analysis (IIASA), Austria,
4
Research and Statistics Department, Bank of Japan, Japan and
5
Global Connexus Inc., USA
ABSTRACT
Amazon was the world’s top R&D firm in 2017. Its R&D investment was double that of 2015, quintuple
that of 2012, and tenfold that of 2011. It deploys a unique R&D model as conducting “routine or periodic
alternations” and “significant improvement” simultaneously. Since traditionally the former is classified
as non-R&D, Amazon’s rapid and notable increase has raised the question of a new R&D definition in
the digital economy. By means of an empirical analysis of the Amazon’s R&D model, this paper
attempted to provide a convincing answer to this question. Amazon has invested considerable resources
in extremely innovative business areas, which has developed its assimilation capacity. In parallel with
such forefront innovation, Amazon is endeavoring to absorb soft innovation resources from external
markets and assimilate them into its business model. This then transforms “routine or periodic
alternations” into “significant improvement”, leading to the company becoming the world’s top R&D
firm. Such an endeavor has triggered a new concept of R&D in neo open innovation and revealed the
significance of a transformation of the R&D concept in the digital economy.
KEYWORDS
R&D, neo open innovation, Amazon, transformation, technology and content
For More Details: http://aircconline.com/ijmit/V11N1/11119ijmit02.pdf
Abstract URL: http://aircconline.com/abstract/ijmit/v11n1/11119ijmit02.html
Volume URL: http://airccse.org/journal/ijmit/vol11.html

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AUTHORS
Yuji Tou graduated from Tokyo Institute of Technology, Japan, and is currently specially appointed
associate professor at Tokyo Institute of Technology, Japan
Chihiro Watanabe graduated from the University of Tokyo, Japan, and is currently Professor Emeritus
at the Tokyo Institute of Technology, a research professor at the University of Jyväskylä, Finland, and a
research scholar at the International Institute for Applied Systems Analysis (IIASA).
Kuniko Moriya graduated from Aoyama Gakuin University, Japan, and is currently is currently Director
of the Bank of Japan.
Victor V. Vurpillat graduated from Calfornia State Polytechnic University, USA, and is currently
Chairman of the Board and Director of Research, Global Connexus Inc., USA
Pekka Neittaanmäki graduated from the University of Jyväskylä with a degree in Mathematics. He is
currently Professor of the Faculty of Information Technology, University of Jyväskylä, Finland.

A SOLUTION TO THE DILEMMA BETWEEN R&D EXPANSION AND
THE PRODUCTIVITY DECLINE: LESSONS FROM THE R&D MODELS
IN AMAZON AND FINLAND
Yuji Tou1
, Chihiro Watanabe 2,3
, Kuniko Moriya4,2
,
1
Tokyo Institute of Technology, Japan,
2
University of Jyväskylä, Finland,
3
International Institute for Applied Systems Analysis (IIASA), Austria and
4
Research and Statistics Department, Bank of Japan, Japan
ABSTRACT
As a consequence of the two-faced nature of information and communication technology (ICT), a
majority of ICT leaders have been confronting the critical problem of a dilemma between R&D
expansion and productivity decline in the digital economy. However, Amazon has been able to
accomplish a skyrocketing increase in R&D and market capitalization. Finland has also accomplished
balanced advancement not only of welfare but also economic resurgence. This paper attempted to
elucidate the miracle of two ICT leaders. By means of a comparative empirical analysis of respective
development trajectories, the sources of their success were analyzed thereby the comparative advantage
and disadvantage of each respective trajectories supportive to find a practical solution to the critical
problem of a dilemma were identified. The sources of both successes can be attributed to harnessing the
vigor of soft innovation resources from the marketplace. However, contrary to Amazon’s complementary
use, Finland has depended on substitutionary use. While this approach contributes to easy resurgence, it
casts a shadow to the innovative growth in the future. An insightful suggestion regarding balanced
sustainable growth by cross learning was thus provided.
KEYWORDS
Digital economy, soft innovation resources, Amazon, Finland, dilemma between R&D and productivity
Abstract URL: http://aircconline.com/abstract/ijmit/v11n2/11219ijmit02.html
http://airccse.org/journal/ijmit/vol11.html

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UPPING THE ANTE: USING RFID AS A COMPETITIVE WEAPON TO
FIGHT SHOPLIFTING AND IMPROVE BUSINESS INTELLIGENCE
David C. Wyld1
and Michael C. Budden2
1
Department of Management, Southeastern Louisiana University, Hammond, LA USA
2
Department of Marketing & Supply Chain Management, Southeastern Louisiana
University, Hammond, LA USA
ABSTRACT
This paper explores how RFID (radio frequency identification) technology can be employed to fight the
ever-growing shoplifting problem, estimated to cost the world’s retailers almost $100 billion annually.
The paper provides an overview of RFID technology. We then analyze how RFID is beginning to see
utilization in-store not just for security, but as a vehicle to improve inventory management and business
intelligence as well. This paper demonstrates that RFID is poised to usher in a whole new direction in the
fight against retail shrinkage, and we discuss what this visibility will mean for their companies, their
employees, and their customers.
KEYWORDS
Shoplifting, Retail Security, Loss Prevention, RFID (radio frequency identification) technology,
Organized Retail Crime, Business Intelligence
For More Details: http://airccse.org/journal/ijmit/1011s1.pdf
http://airccse.org/journal/ijmit/vol1.html

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AUTHORS
David C. Wyld currently serves as the Robert Maurin Professor of
Management at Southeastern Louisiana University in Hammond, Louisiana.
He is the Director of the College of Business’ Strategic e-Commerce/e-
Government Initiative, the Founding Editor of the Journal of Strategic e-
Commerce, and a frequent contributor to both academic journals and trade
publications. He has established himself as one of the leading academic
experts on emerging applications of technology in both the public and
private sector. He has been an active consultant, a qualified expert witness,
and an invited speaker on the strategic management of technology to both
trade and academic audience
Dr. Michael Craig Budden is the Mayfield Professor of Marketing at
Southeastern Louisiana University. He has 20 years experience as an
academic administrator, including service as a dean of business for 14
years. Budden is the author of more than 150 publications, including
books on shoplifting laws and trade secrets laws. Budden's publications
have received national commendations from the Institute of Internal
Auditors, the National Association of Accountants and the Clute Institute.
He has served as a consultant to banks, health care organizations,
marketing research firms, and professional associations. He received a
Ph.D. in Marketing from the University of Arkansas.

AUTONOMIC FRAMEWORK FOR IT SECURITY GOVERNANCE
Sitalakshmi Venkatraman
School of Engineering, Construction and Design (IT), Melbourne Polytechnic, Australia,
ABSTRACT
With the recent service enhancements over the Internet, organisations are confronted with a
growing magnitude of security intrusions and attacks. Current intrusion detection strategies
have not been effective in the long term, as new and obfuscated security attacks keep
emerging evading the surveillance mechanisms. With information technology (IT) playing a
pivotal role in today’s organizational operations and value creation, security regulatory
bodies have identified this situation not solely as a technology issue, rather due to the
weakness of an organisation's risk management practices and IT governance. Hence, recent
attention has embarked on formulating proactive IT security governance for organisational
sustenance. This paper proposes an autonomic framework for IT security governance that
postulates a selflearning adaptive mechanism for an effective intrusion detection and risk
management. Such a framework would facilitate autonomic ways of integrating existing
context-dependent knowledge with new observed behaviour patterns gathered from network
as well as host for detecting unknown security attacks effectively using mobile agents. In
addition, this paper provides a roadmap for autonomic IT security governance by applying
the proposed framework The roadmap employs a continuous improvement feedback loop. for
achieving the targeted quality of service (QoS) in an organisation.
KEYWORDS
IT Security Governance, Intrusion Detection, Autonomic Framework, Self-learning & Mobile
Agents
Volume Link: http://airccse.org/journal/ijmit/vol9.html

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AUTHORS
Sita Venkatraman is currently the Information Technology Lecturer and Discipline Leader
for Business Information Systems at the School of Engineering, Construction
& Design, Melbourne Polytechnic, Australia. She earned her PhD in
Computer Science, with a doctoral thesis titled “Efficient Parallel
Algorithms for Pattern Recognition”, from National Institute of Industrial
Engineering in 1993. In the past 25 years, Sita's work experience involves
both industry and academics - developing turnkey projects for IT industry
and teaching a variety of IT courses for tertiary institutions, in India, Singapore, New
Zealand, and more recently in Australia since 2007. Her recent research areas are
predominantly in Business Intelligence, Data Mining, Cloud Computing and Information
Security. Sita has published eight book chapters and more than 100 research papers in
internationally well-known refereed journals and conferences. She also serves as Member of
Register of Experts at Australia's Tertiary Education Quality and Standards Agency
(TEQSA).

THE IMPACT OF KNOWLEDGE MANAGEMENT ON THE FUNCTION OF EMPLOYEE
PERFORMANCE APPRAISALS IN INDUSTRIAL COMPANIES- CASE STUDYS
H. Obaidat and M. A. Otair Amman Arab University, Jordan
ABSTRACT
The study aimed at identifying the impact of knowledge management on the function of
employee performance appraisals (it is one of the most important functions of human
resources management) in Jordanian industrial public shareholding companies, relying on the
descriptive analytical approach. A questionnaire has been developed and distributed on
individuals of the study sample consisting of managers of departments and sections of human
resources in each company. The number of questionnaire retrieved and valid for statistical
analysis (294) representing (86.5%) of the distributed questionnaires. In order to analyze the
study sample, reliance was placed on descriptive statistics, represented in the arithmetic
means and standard deviations, in addition to the multiple linear regression analysis in
hypothesis testing. The study reached a number of findings, most importantly, the presence of
statistically significant impact at the level of (α=0.05) for the knowledge management
including its dimensions (knowledge generation, knowledge storage, knowledge sharing,
knowledge application) on the function of employee performance appraisals in Jordanian
industrial public shareholding companies. The study has recommended that the Jordanian
industrial public shareholding companies should follow an efficient evaluation system
capable of identifying the employees’ weaknesses.
KEYWORDS
Human resources management, Knowledge Management, Employee Performance Appraisals,
Industrial Companies
Volume Link : http://airccse.org/journal/ijmit/vol10.html

REFERENCES
[1] Aishoush, R. (2009). “Knowledge Management and Strategy in Business Organizations”. Unpublished
PhD dissertation, Mohammed Khaydar University, Biskra, Algeria.
[2] Al-Deeb E. (2010). Knowledge Management, Cairo, Egypt: The Arab Open Academy.
[3] Al-kbaisi, S. (2011). Knowledge Management, Cairo-Egypt, Arab Organization for
Administrative Development.
[4] Al-Mudallal, A. (2012). “The application of knowledge management in Palestinian governmental
institutions and their impact on the level of performance”. Unpublished M.Sc. Thesis, Islamic University,
Palestine.
[5] Al-Salem, M. and Saleh, A. (2003). Human Resource Management Strategic Approach.
Amman Jordan, World of Modern Books for Publishing and Distribution.
[6] Altaweel, A. and Rasheed, H. (2005). “The Impact of Information Technology on Knowledge
Management Processes”. Future Research Journal. Iraq, Issue 10.
[7] Al-Yaseri, A. and Hussien, D. (2012). “The Impact of Knowledge Management and Organizational
Learning Processes on Strategic Performance An exploratory study of the views of a sample of administrative
leaders at the universities of the Middle Euphrates”. Iraq, Qadisiyah Journal of Administrative and
Economic Sciences, Vol (14), Issue (1).
[8] Al-zyadat, M. (2008). “Contemporary Trends in Knowledge Management”, 1st Edition,
AmmanJordan, Dar Al Safa for Publishing and Distribution.
[9] Bukowitz, W. and Williams, R. (2000), The Knowledge Management Fieldbook, London:
Prentice Hall
[10] Darwazeh, S. (2008). “The Relationship between Knowledge Management Requirements and Processes
and their Impact on the Performance Excellence of Organizations”. Unpublished PhD Thesis. Jordan,
Middle East University.
[11] Grover, V., and Davenport, T. (2001). General Perspectives on Knowledge Management.
Journal of Management Information System, vol. 18, No. (1), pp. 5-21.
[12] Hmoud, K. (2010). Knowledge Organization, 1st Edition, Amman-Jordan, Al-Ahliyyah for
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[13] Nickols, F. (2000). "Knowledge in Knowledge Management." Knowledge Management
Yearbook, Butterworth-Heinemann: Boston.
[14] Rollett, H. (2003), Knowledge management processes and technologies, Kluwer, Norwell.

[15] Sakeenah, M. and Abu Sin, A. (2013). “Analysis of the reality of human resources strategy and its
impact on performance in Sudanese telecommunications companies: Case Study of Sudan Telecom Company
Limited”. Journal of Economic Sciences, Vol. 14, Issue 1.
[16] Sekaran, U. (2003) “Research Methods for Business: A Skill-Building Approach”. 4th Edition, John
Wiley & Sons, New York.
[17] Uriarte, A. (2008). Introduction to Knowledge Management, Jakarta, Indonesia: Asean
Foundation.
[18] Wiig, K. (1993). Knowledge management foundations: thinking about thinking. How
people and organizations create, represent and use knowledge. Arlington, TX: Schema Press.
[19] Wilkesmann, U., Wilkesmann, M., and Virgillito, A. (2007). Requirements for Knowledge
Transfer in Hospitals How Can Knowledge Transfer be Supported in Hospitals?. Discussion
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printing, publishing and distribution

NEED FOR CRITICAL CYBER DEFENCE, SECURITY STRATEGY AND PRIVACY
POLICY IN BANGLADESH - HYPE OR REALITY?
AKM Bahalul Haque
Depart of Electrical and Computer Engineering North South University, Dhaka, Bangladesh
ABSTRACT
Cyber security is one of the burning issues in modern world. Increased IT infrastructure has
given rise to enormous chances of security breach. Bangladesh being a relatively new
member of cyber security arena has its own demand and appeal. Digitalization is happening
in Bangladesh for last few years at an appreciable rate. People are being connected to the
worldwide web community with their smart devices. These devices have their own
vulnerability issues as well as the data shared over the internet has a very good chances of
getting breached. Common vulnerability issues like infecting the device with malware,
Trojan, virus are on the rise. Moreover, a lack of proper cyber security policy and strategy
might make the existing situation at the vulnerable edge of tipping point. Hence the
upcoming new infrastructures will be at a greater risk if the issues are not dealt with at an
early age. In this paper common vulnerability issues including their recent attacks on cyber
space of Bangladesh, cyber security strategy and need for data privacy policy is discussed
and analysed briefly.
KEYWORDS
CyberSecurity, Cyberdefence, Security Policy, Vulnerability, Cyber Threat, SecurityStrategy
Volume Link : http://airccse.org/journal/ijmit/vol11.html

REFERENCES
[1] “Internet Subscribers in Bangladesh December, 2018. | BTRC.” [Online]. Available:
http://www.btrc.gov.bd/content/internet-subscribers-bangladesh-december-2018.[Accessed: 25-
Nov2018].
[2] C. Team, “Common Vulnerabilities in Cyber Space of Bangladesh,” BGD e-GOV CIRT |
Bangladesh e-Government Computer Incident Response Team.
[3] “Cyber warfare: Our Achilles’ heel?,” Dhaka Tribune, 17-Dec-2017. [Online]. Available:
https://www.dhakatribune.com/opinion/op-ed/2017/12/17/cyber-warfare-achilles-heel/. [Accessed: 23-
Nov-2019].
[4] B. Dickson, “What is blockchain?,” TechTalks, 07-Sep-2016. [Online]. Available:
https://bdtechtalks.com/2016/09/07/what-is-blockchain/. [Accessed: 3-Jan-2019].
[5] B. Dickson, “How blockchain can improve cybersecurity,” TechTalks, 11-Jan-2017. [Online].
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3-Dec-2019].
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https://techcrunch.com/2016/12/05/how-blockchain-can-help-fight-cyberattacks/. [Accessed: 3-Jan
2019].
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https://blockgeeks.com/guides/what-is-blockchain-technology/. [Accessed: 23-Jan-2019].
[8] “National Cyber Security Strategy”, ICT Division, Govt. of People’s Republic of Bangladesh.
Available: http://www.dpp.gov.bd/upload_file/gazettes/10041_41196.pdf . [Accessed: 2-Jan-2019]
[9] “Personal Data,” General Data Protection Regulation (GDPR).
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personal-data/.[Accessed: 10-Jan-2019].
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Available: https://www.cirt.gov.bd/wp-content/uploads/2018/12/Digital-Security-Act-2018-
Englishversion.pdf . [Accessed: 20-Dec-2019].
[12] “Official Secrets Act, 1923 (Act No. XIX of 1923).” [Online]. Available:
http://bdlaws.minlaw.gov.bd/pdf_part.php?id=132. [Accessed: 23-Nov-2019].
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Protection Regulation (GDPR). [Online]. Available: https://gdpr-info.eu/. [Accessed: 20-Dec-2019].
[14] “(Haque, A K M Bahalul. (2019).Big-Brother-In-1984-The-Modern-Era-Surveillance. International
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[15] “BGD e-GOV CIRT | Bangladesh e-Government Computer Incident Response Team |.”
[Online].Available: https://www.cirt.gov.bd /. [Accessed: 05-Feb-2019].

AUTHORS
AKM Bahalul Haque is currently working a Lecturer of Department of ECE, North South
University, Bashundhara, and Dhaka 1229. He has achieved is M.Sc. In
Information Technology from Fachhochschule Kiel, Germany, 2018. He
achieved his Bachelor of Science (Engineering) in Computer Science and
telecommunication engineering in 2014. Has published two of his papers
in International Journal. He specializes in Cyber Security, Cloud
Computing, Data Privacy and protection. He has one-year experience as
Security Engineer and one-year experience as Vulnerability Detection
Consultant in Cyber Security Division.

CO-EVOLUTION BETWEEN CCC-DRIVEN CASH FLOW
MANAGEMENT AND TRANSFORMATION OF R&D – AMAZON’S
ENDEAVOR
Yuji Tou1
, Chihiro Watanabe 2,3
, 1
Tokyo Institute of Technology, Japan,
2
University of Jyväskylä, Finland and 3
International Institute for Applied Systems Analysis
(IIASA), Austria
ABSTRACT
Amazon became the world R&D leader in 2017 by rapidly increasing R&D investment. The
company’s extremely large amount of R&D funds is the result of an ample free cash flow
generated by sophisticated cash conversion cycle (CCC) management. Increased R&D induced
business advancement and lean cost structure construction leading to further increase in cash
flow which has stimulated interaction between vendors, customers, and Amazon via the Amazon
marketplace. Activated interaction accelerated CCC advancement, a subsequent free cash flow
increase, and user-driven innovation, thus accelerated the transformation of routine and periodic
alteration activities into significant improvement simultaneously. All of these components
function together as a consolidated sophisticated machine.
In light of the increasing concern to R&D resources development without the dilemma of a
productivity decline that most digital economies are now confronting, this paper demonstrated
the above hypothetical view.
An intensive empirical analysis focusing on the development trajectory of Amazon’s techno-
financing system over a period from 1997 to 2018 was conducted.
An insightful suggestion to neo open innovation that fuses financing management and R&D
management was thus provided
KEYWORDS
R&D, Transformation, Cash flow management, Cash conversion cycle, Amazon
FULL TEXT: http://aircconline.com/ijmit/V11N3/11319ijmit01.pdf
ABSTRACT URL: http://aircconline.com/abstract/ijmit/v11n3/11319ijmit01.html

REFERENCES
[1] Tou, Y., Watanabe, C., Moriya, K., & Neittaanmäki, P., 2018. Neo Open Innovation in the Digital
[2] Tou, Y., Watanabe, C., Moriya, K., & Neittaanmäki, P., 2019b. Harnessing Soft Innovation
Resources Leads to Neo Open Innovation. Technology in Society, in print.
[3] Tou, Y., Watanabe, C., Moriya, K., Vurpillat, V., & Neittaanmäki, P., 2019a. A New Concept of
R&D in Neo Open Innovation: Transformation of R&D Triggered by Amazon. International Journal of
Managing Information Technology 11 (1) 17-35.
[4] Tou, Y., Watanabe, C., Moriya, K., Naveed, N., Vurpillat, V., & Neittaanmäki, P., 2019c. The
Transformation of R&D into Neo Open Innovation: A New Concept of R&D Endeavor Triggered by
Amazon. Technology in Society 47, in print.
[5] Price, R., 2013. Cash Flow at Amazon.Com. Accounting Education 28 (2), 353-374.
[6] Fox, J., 2014. At Amazon, It’s All About Cash Flow. Finance & Accounting, 20 Oct. 2014.
https://hbr.org/resources/images/article_assets/2014/10/inadifferentleague.png (retrieved 26.06.2019).
[7] Naruge, M., 2018. Amazon, The World Top Strategy. Diamond Co., Tokyo.
[9] Knott, A.M., 2017. How Innovation Really Works: Using the Trillion-Dollar R&D fix to Drive
Growth. McGraw Hill, New York.
[11] Watanabe, C. & Tou, Y., 2019. Transformative Direction of R&D: Lessons from Amazon’s
Endeavor. Technovation, in print.
[12] Amazon, 2018. Amazon.Com. Inc. Annual Report 2017. Amazon.Com, Inc., Seattle.
http://www.annualreports.com/Company/amazoncom-inc (retrieved 06.01.2019).
[13] Amazon, 2019a. Amazon.Com. Inc. Annual Report 2018. Amazon.Com, Inc., Seattle.
https://ir.aboutamazon.com/static-files/0f9e36b1-7e1e-4b52-be17-145dc9d8b5ec(retrieved 02.07.2019).
[14] Bloomberg, 2018. 2018 Global Innovation 1000 Study. Bloomberg, New York.
[15] Bezos, J.P., 2005. 2004 Letter to Shareholders. Amazon.com, Inc., Seattle.
[16] Amazon, 2019b. Amazon.com, Inc,, Income Statement. Amazon.Com. Inc., Seattle.
https://fairlyvalued.com/company/AMZN (retrieved 02.07.2019).

[17] Panigrahi, A.K., 2013. Cash Conversion Cycle and Firms’ Profitability. International Journal of
Current Research 6, 1484-1488.
[18] Zakari, M. and Saidu, S., 2016. The Impact of Cash Conversion Cycle on Firm Profittability:
Evidence from Nigerian Listed Telecommunication Companies. Journal of Finance and Accounting 4
(6), 342-350.
[19] Zeidan, R. and Shapir, O.M., 2017. Cash Conversion Cycle and Value-enhancing Operations:
Theory and Evidence for a Free Lunch. Journal of Corporate Finance 45, 203-219.
[20] Uenlue, M., 2018. Amazon Business Model: Three Customer Value Propositions. Innovation
Tactics, 22 August 2018. https://www.innovationtactics.com/amazon-business-model-part-2/(retrieved
10.06.2019).
[21] Watanabe, C. and Tou, Y., 2003. An Empirical Analysis on the R&D Investment Inducing System
in Japanese-style Management. Research Policy and Technology Management 16 (3/4), 184- 202.
[22] Bloch, C., 2005. R&D Investment and Internal Finance: The Cash Flow Effect. Economics of
Innovation and New Technology, 14 (3), 213-223.
[23] Hong, A., Bhattacharyya, D. and Geis, G.T., 2013. The Role of M&A in Market Convergence:
Amazon, Apple, Google and Microsoft. Global Economy and Finance Journal 6 (1), 53

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