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ICBM 2019 Conference Proceedings — Printed Version ISBN 978-984-344-3540 http://icbm.bracu.ac.bd/ ICBM 2019 CONTENTS Message ii Message from the Conference Chairs iii Keynote Speeches iv Industry Talks viii Invited Talks xv Program Overview xxi Index of Abstracts xxiv Abstracts 1 Organizing Committee 52 Technical Committee 54 International Dignitaries 57 ICBM 2019 K M Khalid MP State Minister Ministry of Cultural Affairs Government of the People’s Republic of Bangladesh Message It is a great honor for me to be involved with the 2nd International Conference on Business and Management (ICBM 2019), organized by Brac Business School, Brac University. I am overwhelmed to know that more than 160 research papers will be presented by 200 local and international participants. Definitely, it reflects an outstanding team work and profound activities which were accompanied by the organizing committee of ICBM 2019. I firmly believe that this conference will help the scholars to develop their career and it will be a great experience for them. Moreover, this conference would help the industry people to think more creatively. It is a great initiative taken by Brac University which will contribute towards the development of the business arena. It is creating opportunities and helping the students to explore themselves in order to fit in the workplace based on global phenomena. I am confident that in future Brac University will take such initiatives by which the society will be benefited at large. Finally, I would like to conclude with best wishes. K M Khalid MP State Minister Ministry of Cultural Affairs Government of the People’s Republic of Bangladesh ii ICBM 2019 MESSAGE FROM THE CONFERENCE CHAIRS Professor Vincent Chang, PhD Honorary General Chair, ICBM 2019 Professor Mohammad Mahboob Rahman, PhD Assoc. Professor Md. Mamun Habib, PhD General Chair, ICBM 2019 Program Chair, ICBM 2019 Welcome to the second International Conference on Business and Management (ICBM 2019) taking place on April 25-27 in Dhaka, Bangladesh. The theme for this year’s conference is ‘Industry Focused Global Research Trends in Business and Management.’ As such the conference aims to bring both practitioners and academics together, to promote a valuable exchange of ideas, and to facilitate discussion on current affairs in business and management. As management researchers meticulously investigate how the world’s needs can be met through business activities that promote a better quality of life, that goal can be achieved only by fostering enduring partnerships between industry and academia. And ICBM 2019 is a purposeful step toward cultivating such partnerships right here in Bangladesh. The context for both business activities and management research is not only global, but highly interdisciplinary. Following the success of the previous conference, ICBM is set to welcome international participants yet again this year, and we are delighted to have four distinguished international scholars as keynote speakers. The range of topics is sufficiently broad with submissions covering exciting new areas in addition to traditional management disciplines. We are grateful to have the support of key players in the local industry, particularly of our Platinum Sponsor, ACI Limited, one of the largest conglomerates in the country. We are also thankful to Gold Sponsors Abdul Monem Ltd., Brac Bank, IPDC Finance and Runner Automobiles, and to Silver Sponsors Mutual Trust Bank and bKash. We hope you will enjoy this three-day conference and be able to utilize this platform to enhance your knowledge and explore new ideas. iii ICBM 2019 KEYNOTE SPEAKER Prof. Dr. Tzong-Ru Lee Department of Marketing National Chung Hsing University, Taiwan Friday, 26 April 2019, 10:00 AM – 11:00 AM To Set Up APMI Index by Using Open Data of Taiwan Hog Industry APMI is PMI (Purchasing Managers’ Index) application in Agriculture. It means that the focus of this paper is to build APMI based on PMI. PMI is popular in manufacturing sector in Taiwan. In this paper, the authors will show what variables we choose for building APMI and what data that we collected from Taiwan government open data. Then, the authors will show what methodology that we used to form APMI equation and calculate the APMI. The result for readers to know how we build APMI in reality, we use Taiwan hog industry as numerical example. iv ICBM 2019 KEYNOTE SPEAKER Prof. Dr. Ahmad Bashawir bin Abdul Ghani Vice Chancellor Universiti Utara Malaysia Friday, 26 April 2019, 02:15 PM – 03:30 PM Connecting the Dots between University Research and Industrial Revolution Do we realize that most of the researches done at universities are not in sync with the dictates of industrial revolution? There are many researches in business and management published in multitude of journals. However, it has a low level of industry take up and focused. The reason being scholars were misled to believe that the citation count receives are indications of the positive impact of their research as opposed to the potential to improve the decision making of practitioners or the industry. To address this issue and connect the dots, there is a need to fundamentally change the research approach that engenders a significant increase in industry focused research while ensuring that the existing academic research capability continues to develop. This study proposes a mechanism for connecting the dots between research on managerial or corporate processes and the processes affecting organizational competitiveness and societal well-being. Universiti Utara Malaysia (UUM) addresses the issue by setting up the Tun Dr. Mahathir Mohamad’s Thought Institute (IPDM) where key clusters are established with focused research activities that contribute to the socio-economic development and sustainability of the industry and people. The said institute undertakes collaborative ventures with the industry and also research collaborations with distinguished universities especially with the world's top 100 Universities. In the context of Bangladesh, the country researchers can look at UUM’s experience in assisting Malaysia forge ahead economically and socially. Bangladesh universities can play a significant role in increasing the Bangladesh industrial competitiveness globally. There are several research areas that the academics can undertake relevant and impactful industry focused research. If this is feasible, eventually you can see the dots connected. As academicians and researchers, our role is to act as the bridge that links the two sides. Overall, this keynote will address the following questions that will provide significant benefits to both academia and industry. What is the current problem in overall university academic research in business and management?; The importance of connecting the dots between university research and industrial revolution; How to enhance the practical relevance of industry focused research in academia?; How UUM is gearing up towards industry focused research to have more impact?; and How Bangladesh universities can align academic research with Bangladesh industrial competitiveness and societal wellbeing? v ICBM 2019 KEYNOTE SPEAKER Prof. Dr. Hui-Ming Wee Department of Industrial and Systems Engineering Chung Yuan Christian University, Taiwan Saturday, 27 April 2019, 09:00 AM – 10:15 AM Industry 4.0: Driving Logistic Innovation Guidelines for the Use of Internet of Things and Cyber-Physical System Although in its conceptual state, Industry 4.0 promises a revolutionary leap in manufacturing industries for the next 10-20 years. Industry 4.0 is defined as a computerized manufacturing industry with connected intelligent devices, machines and physical objects; the goal is to construct an intelligent factory which is characterized by adaptability, resource efficiency and ergonomics. It integrates customers and business partners to enhance the value chain. Its advantages are: i) Communicate independently and without wire. ii) Optimized individual customer product manufacturing, iii) Resource efficient production. iv) Create energy saving efficiencies and reduce costs, and v) Lower the amount of carbon emitted. This talk provides some insights and guidelines for designing a successful adaptation of Industry 4.0 using the Internet of Things (IoT) and Cyber-Physical Systems as part of Big Data Analytics. Several insights from published surveys, research papers and journals are collected in order to support our view in constructing the guidelines. vi ICBM 2019 KEYNOTE SPEAKER Dr. Pairach Piboonrungroj College of Maritime Studies and Management Chiang Mai University, Thailand Saturday, 27 April 2019, 02:15 PM – 03:30 PM Short Biography Dr. Pairach Piboonrungroj is now the associate dean of the College of Maritime Studies and Management, Chiang Mai University. Dr. Pairach studied a PhD in Logistics and Supply Chain Management at the Logistics Systems Dynamics Group of Cardiff University. His multiple-awarded PhD research aims to explain relationships in tourism supply chain via lens of transaction cost economics using a statistical technique called structural equation model (SEM). He was awarded an MSc (distinction) in Logistics and Operations Management from Cardiff University in 2009. In 2005, he got a Bachelor of Economics (First-class honour) from Chiang Mai University (Thailand). Dr. Pairach has involved in a number of research projects in logistics and supply chain management in various industries such as tourism, business events, creative economics and logistics as well as consultancy works to various organisations such as The World Bank and Thailand Ministry of Tourism and Sports. He is also an ad-hoc reviewer for several journals and conferences. Dr. Pairach is also an R enthusiast, co-founder of R User Groups in Cardiff (Cardiff-R) in the UK and Chiang Mai (ChiangMaiR), in Thailand. His underlying research theme is an application of economics theories and techniques to logistics and supply chain management. vii ICBM 2019 INDUSTRY TALK Mr. M. Anis Ud Dowla Chairman ACI Group Short Biography Mr. M Anis Ud Dowla, the Chairman of ACI Limited, is one of the most successful personalities in Bangladesh business circle. He has maintained a high profile, and has provided leadership to business community in different capacities.
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