• Title/Summary/Keyword: Empirical

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The Impacts of Chinese Seaborne Trade Volume on The World Economy (중국 품목별 수출입이 세계 경제에 미치는 영향 실증분석)

  • Ahn, Young-Gyun;Lee, Min-Kyu
    • Korea Trade Review
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    • v.42 no.6
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    • pp.111-129
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    • 2017
  • According to the World Bank statistics, China's contribution to global economic growth during the year of 2013-2016 was estimated at 31.6 percent. This figure is even larger than 29.0 percent, the contribution by summing each contribution of the United States, EU and Japan. The Chinese commodity trade accounts for up to 11.5 percent of world trade volume. Thus, we can consider that the Chinese economy has a strong influence on the global economy. The primary purpose of this study is to analyze the contribution level of Chinese seaborne trade volume on world economy. First, this study conducted a time-lag analysis using Moran test, so we can find that China's level of contribution to global economic growth varies from time to time. The contribution of the first phase (1999-2007) was nearly three times higher than the contributions from the second phase (2008-2016), suggesting that the overall contraction of the global trade volume starting from the subprime mortgage crisis in 2008 has continued until recently and recovery has not even occurred. Second, using the econometrics model, this study conducted an regression analysis of the impact of Chinese imports and exports in chemicals, grain, steel, crude oil, and container on global economic growth. Fixed effects model with time series data has been applied to examine the effect of Chinese seaborne trade volume on global economic growth. According to the empirical analysis of this study, China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain have significant contributions to global economic growth. Estimates of China's exports of steel products, exports of container, imports of containers, imports of crude oil and imports of grain are 1.023, 1.020, 1.019, 1.007 and 1.006, respectively. For example, the estimated value 1.023 of China's exports of steel products means that the growth rate can be 1.023 times higher than the current world GDP growth rate if Chinese seaborne trade volume of exports of steel products increased by one unit (one million tons). This study concludes that the expansion of China's imports and exports should be realized first to increase the global GDP growth rate. The expansion of Chinese trade can lead to a simultaneous stimulus of production and consumption in China, which can even lead to global economic growth ultimately. Thus, depending on how much China's trade will be broaden in the future, the width of global economic growth can be determined.

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A Study on Utility of the Specialized Exhibition Using IT Technology - Focussing on Attendees including On-line Invitation Visitors - (IT기술을 이용한 전문 전시회의 효용성에 대한 연구 - 온라인 초청 관람객을 포함한 관람객을 중심으로 -)

  • Kim, Young Soo;Joe, Yong Geun;Jang, Yoon Jeong;Yoo, Hee Eun;Kim, Kyung Hoon
    • Korea Science and Art Forum
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    • v.21
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    • pp.105-116
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    • 2015
  • This study intended to give helps in planning a specialized exhibition by carrying out a survey objecting to KOREA PACK 2015 attendees including visitors who possessed mobile coupons after finishing advance registration through on-line, and then investigating, analyzing satisfactions of attendees together with effects of the specialized exhibition using IT technology. As a lot of relevant preceeding researches have been made by focussing on exhibition organizer and exhibitors, the viewpoints of attendees at the specialized exhibition using IT conversing technology such as mobile and etc. were to be investigated and analyzed. Thus, this research tried to do an empirical identification on effects of the exhibition by analyzing relations between its watching forms and satisfactions including a survey on the on-line PR route utility of IT technology in addition to visiting motives of attendees who watched the exhibition. A summarization of the current study is followed: First, in case of attending in the exhibition for specific purposes, they searched related information positively, and were shown as doing information gathering behaviors and also high possibility on purchases was confirmed. Second, it was confirmed that positive attendees had decision-making on purchases. This finding means that attendees who watch the specialized exhibition have authority and responsibility of being able to purchase in many cases, so methods of improving sales by effectively doing PR on own products and technical competitiveness in the exhibition are necessary to exhibitors. Third, attendees who have specific purposes showed higher satisfactions on the exhibition than general visitors, but satisfactions on consultation, staff attitudes, and facility were turn out to be higher than providing related information on products or technology. Accordingly, the necessity of improving this outcome was confirmed. Therefore, exhibitors have to endeavor in providing more advanced services to attendees of the exhibition by grasping technical trends in advance as well as cultivating professional staff who can promote products well.

Effects of Impact of Climate Change on Livestock Productivity - For bullocks, dairy, pigs, laying hens, and broilers - (기후변화가 축산 생산성에 미치는 영향 -거세우, 낙농, 양돈, 산란계, 육계를 대상으로-)

  • Lee, H.K.;Park, H.M.;Shin, Y.K.
    • Journal of Practical Agriculture & Fisheries Research
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    • v.20 no.1
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    • pp.107-123
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    • 2018
  • The global impact of climate change on agriculture is now increasing. The purpose of this study was to investigate the effect of climate change on livestock productivity. The variables that have the greatest influence on climate change factors were examined through previous studies and expert surveys. We also used the actual productivity data of livestock farmers to investigate the relationship with climate change. In order to evaluate the climate for changes in livestock productivity, national representative data (such as bullocks, dairy, pigs, laying hens, and broilers) were surveyed in Korea. Also, to select and classify evaluation indexes, we selected climate change factor variables as prior studies and studied the weighting factor of climate variable factors. In this study, the researchers of industry, academia, and farmers in the livestock sector conducted questionnaires on the indicators of vulnerability to climate change using experts, and then weighed the selected indicators using the hierarchical analysis process (AHP). In order to verify the validity of the evaluation index, was examined using domestic climate data (temperature, precipitation, humidity, etc.). Correlation and regression analysis were performed. The empirical relationship between climate change and livestock productivity was examined through this study. As a result, we used data with high reliability of statistical analysis and found that there are significant variables.

Analysis of Tourism Popularity Using T-map Search andSome Trend Data: Focusing on Chuncheon-city, Gangwon-province (T맵 검색지와 썸트랜드 데이터를 이용한 관광인기도분석: 강원도 춘천을 중심으로)

  • TaeWoo Kim;JaeHee Cho
    • Journal of Service Research and Studies
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    • v.12 no.1
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    • pp.25-35
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    • 2022
  • Covid-19, of which the first patient in Korea occurred in January 2020, has affected various fields. Of these, the tourism sector might havebeen hit the hardest. In particular, since tourism-based industrial structure forms the basis of the region, Gangwon-province, and the tourism industry is the main source of income for small businesses and small enterprises, the damage is great. To check the situation and extent of such damage, targeting the Chuncheon region, where public access is the most convenient among the Gangwon regions, one-day tours are possible using public transportation from Seoul and the metropolitan area, with a general image that low expense tourism is recognized as possible, this study conducted empirical analysis through data analysis. For this, the general status of the region was checked based on the visitor data of Chuncheon city provided by the tourist information system, and to check the levels ofinterest in 2019, before Covid-19, and in 2020, after Covid-19, by comparing keywords collected from the web service sometrend of Vibe Company Inc., a company specializing in keyword collection, with SK Telecom's T-map search site data, which in parallel provides in-vehicle navigation service and communication service, this study analyzed the general regional image of Chuncheon-city. In addition, by comparing data from two years by developing a tourism popularity index applying keywords and T-map search site data, this study examined how much the Covid-19 situation affected the level of interest of visitors to the Chuncheon area leading to actual visits using a data analysis approach. According to the results of big data analysis applying the tourism popularity index after designing the data mart, this study confirmed that the effect of the Covid-19 situation on tourism popularity in Chuncheon-city, Gangwon-provincewas not significant, and confirmed the image of tourist destinations based on the regional characteristics of the region. It is hoped that the results of this research and analysis can be used as useful reference data for tourism economic policy making.

Present Status and Prospect of Valuation for Tangible Fixed Asset in South Korea (유형고정자산 가치평가 현황: 우리나라 사례를 중심으로)

  • Jin-Hyung Cho;Hyun-Seung O;Sae-Jae Lee
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.46 no.1
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    • pp.91-104
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    • 2023
  • The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government's accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.

A Comparison of American and Korean Experimental Studies on Positive Behavior Support within a Multi-Tiered System of Supports (다층지원체계 중심의 긍정적 행동지원에 관한 한국과 미국의 실험연구 비교분석)

  • Chang, Eun Jin;Lee, Mi-Young;Jeong, Jae-Woo;ChoBlair, Kwang-Sun;Lee, Donghyung;Song, Wonyoung;Han, Miryeung
    • Korean Journal of School Psychology
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    • v.15 no.3
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    • pp.399-431
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    • 2018
  • The purpose of this study was to summarize the empirical literature on implementation of positive behavior support (PBS) within a multi-tiered system of supports in American and Korean schools and to compare its key features and outcomes in an attempt to suggest future directions for development of a Korean school-wide PBS model and implementation manuals as well as directions for future research. Twenty-four American articles and 11 Korean articles (total 35 articles) that reported the outcomes of implementation of PBS at a tier 1 and/or tier 2, or tier 3 level and that met established inclusion criteria were analyzed using systematic procedures. Comparisons were made in the areas of key features and outcomes of PBS in addition to general methodology (e.g., participants, design, implementation duration, dependent measures) at each tier of PBS. The results indicated that positive outcomes for student behavior and other areas were reported across tiers in all American and Korean studies. At the tier 1 level, teaching expectations and rules were the primary focus of PBS in American and Korean schools. However, Korean schools focused on modifying the school and classroom environments and teaching social skills whereas American schools focused on teacher training on standardized interventions or curricular by experts and teacher support during implementation of PBS. At the tier 2 level, more American studies reported implementation of tier 2 interventions within school-wide PBS, and Check/In Check/Out (CICO) was found to be the most commonly used tier 2 intervention. The results also indicated that in comparison to Korean schools, American schools were more likely to use systematic screening tools or procedures to identify students who need tier 2 interventions and more likely to promote parental involvement with implementing interventions. At the tier 3 level, more Korean studies reported the outcomes of individualized interventions, but more American studies reported that designing individualized intervention plans based on comprehensive functional behavior assessment results and establishment of systematic screening systems were focused when implementing individualized interventions. Furthermore, few Korean studies reported the assessment of procedural integrity, social validity, and contextual fit in implementing PBS across tiers, indicating the need for development of valid instruments that could be used in assessing these areas. Based on these results, limitations of the study and suggestions for future research are discussed.

Is corporate rebranding a double-edged sword? Consumers' ambivalence towards corporate rebranding of familiar brands

  • Phang, Grace Ing
    • Asia Marketing Journal
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    • v.15 no.4
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    • pp.131-159
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    • 2014
  • Corporate rebranding has been evident in the qualitative corporate rebranding studies as an imposed organizational change that induces mixed reactions and ambivalent attitudes among consumers. Corporate rebranding for the established and familiar corporate brands leads to more ambivalent attitudes as these companies represent larger targets for disparaging information. Consumers are found to hold both positive and negative reactions toward companies and brands that they are familiar with. Nevertheless, the imposed change assumption and ambivalent attitude, in particular corporate rebranding, have never been widely explored in the quantitative corporate rebranding studies. This paper aims to provide a comprehensive empirical examination of the ambivalence towards rebrandingrebranded brand attitude-purchase intention relationships. The author proposes that corporate rebranding for familiar corporate brands is a double-edged sword that not only raises the expectation for better performance, but also induces conflicted and ambivalent attitudes among consumers. These consumers' ambivalent attitudes are influenced by both the parent brands-related and general attitude factors which further affect their rebranded brand attitude and purchase intention. A total of 156 useable questionnaires were collected from Malaysian working adults; and two established Malaysian airfreight operators were utilized as the focal parent brands. The study found a significant impact of prior parent brand attitudes on ambivalence towards rebranding (ATR). The parent brand attitudes served as anchors in influencing how new information was processed (Mazaheri et al., 2011; Sherif & Hovland, 1961) and closely related to behavioral intention (Prislin & Quellete, 1996). The ambivalent attitudes experienced were higher when individuals held both positive and negative reactions toward the parent brands. Consumers also held higher ambivalent attitudes when they preferred one of the parent brands; while disliked the other brand. The study also found significant relationships between the lead brand and the rebranded brand attitude; and between the partner brands and ATR. The familiar but controversial partner brand contributed significantly to the ambivalent attitudes experienced; while the more established lead brand had significant impact on the rebranded brand attitude. The lead and partner brands, though both familiar, represented different meanings to consumers. The author attributed these results to the prior parent brand attitudes, the skepticism and their general ambivalence toward the corporate rebranding. Both general attitude factors (i.e. skepticism and general ambivalence towards rebranding) were found to have significant positive impacts on ATR. Skeptical individuals questioned the possibility of a successful rebranding (Chang, 2011) and were more careful with their evaluations toward 'too god to be true' or 'made in heaven' pair of companies. The embedded general ambivalent attitudes that people held toward rebranding could be triggered from the associative network by the ambiguous situation (Prislin & Quellete, 1996). In addition, the ambivalent rebranded brand attitude was found to lower down purchase intention, supporting Hanze (2001), Lavine (2001) and van Harreveld et al. (2009)'s studies. Ambivalent individuals were found to prefer delay decision making by choosing around the mid-ranged points in 'willingness to buy' scale. The study provides several marketing implications. Ambivalence management is proven to be important to corporate rebranding to minimize the ambivalent attitudes experienced. This could be done by carefully controlling the parent brands-related and general attitude factors. The high ambivalent individuals are less confident with their own conflicted attitudes and are motivated to get rid of the psychological discomfort caused by these conflicted attitudes (Bell & Esses, 2002; Lau-Gesk, 2005; van Harreveld et al., 2009). They tend to process information more deeply (Jonas et al., 1997; Maio et al., 2000; Wood et al., 1985) and pay more attention to message that provides convincible arguments. Providing strong, favorable and convincible message is hence effective in alleviating consumers' ambivalent attitudes. In addition, brand name heuristic could be utilized because the rebranding strategy sends important signal to consumers about the changes that happen or going to happen. The ambivalent individuals will pay attention to both brand name heuristic and rebranding message in their effort to alleviate the psychological discomfort caused by ambivalent attitudes. The findings also provide insights to Malaysian and airline operators for a better planning and implementation of corporate rebranding exercise.

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The Study on the Factors of film's Processing Fluency Inducing Film's Preference Fluency (영화의 선호도 유창성에 영향을 미치는 영화의 처리 유창성 요인에 관한 연구)

  • Choi, Nak Hwan;Lim, Ahyoung
    • Asia Marketing Journal
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    • v.13 no.4
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    • pp.29-54
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    • 2012
  • Recently, as film has been admitted as the artistic merit and higher value-added business, the past studies on film have been lively carried on various fields. Especially, the film business is thought to be value-added business and has explored the causes of influencing spectators. However, there are no researches enough to explain what induces the choice and diffusion of the film. The film is not only hedonic products but also typical example of experiential products. So how to process film formation plays important roles in explaining the procedures of forming preference on the film and the movies spread more widely. But the great part of study of films has been concentrated on exploring hedonic factors of influencing spectator's choice. Until now there is not enough study for the relationship between experiential information processing and film preference. To explain film's preference, our study focuses on preference fluency and processing fluency that can provide an insight for our question about the relationship. In this article, to explain the procedures of processing experiential information and forming preference on the film, our study focuses on finding the relationship between film's processing fluency and film's preference fluency and explores the factors that affect film's processing fluency. To achieve the goal of this study, we distinguish factors of film's conceptual fluency from factors of film's perceptual fluency and explore the paths from the factors to film's preference fluency. The factors which have effects on perceptual fluency are hypothesized to be distinction of image expression, distinction of sound expression, correspondence between actors' image and their role. The factors which have effect on conceptual fluency are supposed to be well-organized story, suitability of lines expression. The experiments in which students were sampled at 'C' university were conducted in 2010 (december). Data collection was proceeded through questionnaires. We test the hypothesized model by using structural equation modeling(Amos 17.0). The fit indices for the model are as follows : x2=416.266(df=213, p=0.00), GFI=0.855, AGFI=0.812, RMSEA =0.069, IFI=O.925, CFI=0.920, TLI=0.905. According to the guidelines, there is evidence that our measurement model fits data. The results of empirical study are as follows. The path from film's perceptual fluency to film's preference fluency is supported(estimate: 0.223, C.R: 2.641). The path from film's conceptual fluency to film's preference fluency is supported(estimate: 0.397, C.R: 4.863). The path from distinction of image expression to film's perceptual fluency is not supported(estimate: 0.113, C.R: 1.665). The path from distinction of sound expression to film's perceptual fluency is supported (estimate: 0.190, C.R: 2.042). The path from correspondence between actors' image and their role to film's perceptual fluency is supported(estimate: 0.686, C.R: 5.566). The path from well-organized story to film's conceptual fluency is supported(estimate: 0.396, C.R: 4.023). The path from suitability of lines expression to film's conceptual fluency is supported(estimate: 0.536, C.R: 5.441). Concludingly, our study explored the influencing factors of film's processing fluency inducing film's Preference fluency. First, film's perceptual fluency and film's conceptual fluency have positive effects on film's preference fluency. Second, distinction of image expression is not significant on film's perceptual fluency, but distinction of sound expression and image's correspondence of actors' image and their role have positive effects on film's perceptual fluency. Lastly, well-organized story and suitability of lines expression have positive effects on film's conceptual fluency.

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The Effect of Consumers' Value Motives on the Perception of Blog Reviews Credibility: the Moderation Effect of Tie Strength (소비자의 가치 추구 동인이 블로그 리뷰의 신뢰성 지각에 미치는 영향: 유대강도에 따른 조절효과를 중심으로)

  • Chu, Wujin;Roh, Min Jung
    • Asia Marketing Journal
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    • v.13 no.4
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    • pp.159-189
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    • 2012
  • What attracts consumers to bloggers' reviews? Consumers would be attracted both by the Bloggers' expertise (i.e., knowledge and experience) and by his/her unbiased manner of delivering information. Expertise and trustworthiness are both virtues of information sources, particularly when there is uncertainty in decision-making. Noting this point, we postulate that consumers' motives determine the relative weights they place on expertise and trustworthiness. In addition, our hypotheses assume that tie strength moderates consumers' expectation on bloggers' expertise and trustworthiness: with expectation on expertise enhanced for power-blog user-group (weak-ties), and an expectation on trustworthiness elevated for personal-blog user-group (strong-ties). Finally, we theorize that the effect of credibility on willingness to accept a review is moderated by tie strength; the predictive power of credibility is more prominent for the personal-blog user-groups than for the power-blog user groups. To support these assumptions, we conducted a field survey with blog users, collecting retrospective self-report data. The "gourmet shop" was chosen as a target product category, and obtained data analyzed by structural equations modeling. Findings from these data provide empirical support for our theoretical predictions. First, we found that the purposive motive aimed at satisfying instrumental information needs increases reliance on bloggers' expertise, but interpersonal connectivity value for alleviating loneliness elevates reliance on bloggers' trustworthiness. Second, expertise-based credibility is more prominent for power-blog user-groups than for personal-blog user-groups. While strong ties attract consumers with trustworthiness based on close emotional bonds, weak ties gain consumers' attention with new, non-redundant information (Levin & Cross, 2004). Thus, when the existing knowledge system, used in strong ties, does not work as smoothly for addressing an impending problem, the weak-tie source can be utilized as a handy reference. Thus, we can anticipate that power bloggers secure credibility by virtue of their expertise while personal bloggers trade off on their trustworthiness. Our analysis demonstrates that power bloggers appeal more strongly to consumers than do personal bloggers in the area of expertise-based credibility. Finally, the effect of review credibility on willingness to accept a review is higher for the personal-blog user-group than for the power-blog user-group. Actually, the inference that review credibility is a potent predictor of assessing willingness to accept a review is grounded on the analogy that attitude is an effective indicator of purchase intention. However, if memory about established attitudes is blocked, the predictive power of attitude on purchase intention is considerably diminished. Likewise, the effect of credibility on willingness to accept a review can be affected by certain moderators. Inspired by this analogy, we introduced tie strength as a possible moderator and demonstrated that tie strength moderated the effect of credibility on willingness to accept a review. Previously, Levin and Cross (2004) showed that credibility mediates strong-ties through receipt of knowledge, but this credibility mediation is not observed for weak-ties, where a direct path to it is activated. Thus, the predictive power of credibility on behavioral intention - that is, willingness to accept a review - is expected to be higher for strong-ties.

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Strategic Issues in Managing Complexity in NPD Projects (신제품개발 과정의 복잡성에 대한 주요 연구과제)

  • Kim, Jongbae
    • Asia Marketing Journal
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    • v.7 no.3
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    • pp.53-76
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    • 2005
  • With rapid technological and market change, new product development (NPD) complexity is a significant issue that organizations continually face in their development projects. There are numerous factors, which cause development projects to become increasingly costly & complex. A product is more likely to be successfully developed and marketed when the complexity inherent in NPD projects is clearly understood and carefully managed. Based upon the previous studies, this study examines the nature and importance of complexity in developing new products and then identifies several issues in managing complexity. Issues considered include: definition of complexity : consequences of complexity; and methods for managing complexity in NPD projects. To achieve high performance in managing complexity in development projects, these issues need to be addressed, for example: A. Complexity inherent in NPD projects is multi-faceted and multidimensional. What factors need to be considered in defining and/or measuring complexity in a development project? For example, is it sufficient if complexity is defined only from a technological perspective, or is it more desirable to consider the entire array of complexity sources which NPD teams with different functions (e.g., marketing, R&D, manufacturing, etc.) face in the development process? Moreover, is it sufficient if complexity is measured only once during a development project, or is it more effective and useful to trace complexity changes over the entire development life cycle? B. Complexity inherent in a project can have negative as well as positive influences on NPD performance. Thus, which complexity impacts are usually considered negative and which are positive? Project complexity also can affect the entire organization. Any complexity could be better assessed in broader and longer perspective. What are some ways in which the long-term impact of complexity on an organization can be assessed and managed? C. Based upon previous studies, several approaches for managing complexity are derived. What are the weaknesses & strengths of each approach? Is there a desirable hierarchy or order among these approaches when more than one approach is used? Are there differences in the outcomes according to industry and product types (incremental or radical)? Answers to these and other questions can help organizations effectively manage the complexity inherent in most development projects. Complexity is worthy of additional attention from researchers and practitioners alike. Large-scale empirical investigations, jointly conducted by researchers and practitioners, will help gain useful insights into understanding and managing complexity. Those organizations that can accurately identify, assess, and manage the complexity inherent in projects are likely to gain important competitive advantages.

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