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Improving the assessment of the diversification of construction companies

Ginevičius Romualdas

Engineering Management in Production and Services

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2023

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Vol. 15, no. 2

46--54

EN

Various indicators are used to determine the level of company diversification. Their adequacy largely depends on the structure of the production programme. Its essential feature is the comparative weight of the main product in the total scope of the company’s work. In this situation, the intensity of the diversification process is reflected by the decrease in the volume of this product due to the inclusion of new products in the production programme. In this case, the adequacy of the diversification indicator can be reflected by comparing the scale of the main product with changes in the value of these indicators. The adequacy will be higher with more changes in the values of diversification indicators corresponding to changes in the volumes of the main product. Four indicators of corporate diversification are the most well-known and widely used: the Berry index, the entropy measure, Utton’s measure and the DG index. All of them have both strong and weak sides, so it is important to determine situations of the company’s production programme in which diversification indicators are appropriate to use, i.e., in which situations their adequacy is the greatest. The research has established that if the comparative weight of the main product of the production programme in the total scope of work is greater than 0.5, then the adequacy of the entropy measure and index DG is higher compared to the Berry index and Utton’s measure. If it is lower than 0.5, the other two diversification indicators should be used. The obtained results will help to more efficiently manage the process of diversification as a company’s development strategy.

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Generative AI in the manufacturing process: theoretical considerations

Doanh Duong Cong, Dufek Zdenek, Ejdys Joanna, Ginevičius Romualdas, Korzynski Pawel, Mazurek Grzegorz, Paliszkiewicz Joanna, Wach Krzysztof, Ziemba Ewa

Engineering Management in Production and Services

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2023

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Vol. 15, no. 4

76--89

EN

The paper aims to identify how digital transformation and Generative Artificial Intelligence (GAI), in particular, affect the manufacturing processes. Several dimensions of the Industry 4.0 field have been considered, such as the design of new products, workforce and skill optimisation, enhancing quality control, predictive maintenance, demand forecasting, and marketing strategy. The paper adopts qualitative research based on a critical review approach. It provides evidence of the GAI technology support in the mentioned areas. Appropriate use of emerging technology allows managers to transform manufacturing by optimising processes, improving product design, enhancing quality control, and contributing to overall efficiency and innovation in the industry. Simultaneously, GAI technologies facilitate predictive analytics to forecast and anticipate future demand, quality issues, and potential risks, improve a marketing strategy and identify market trends.

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Managerial decisions on the nature and scale of corporate activity diversification in the construction sector

Ginevičius Romualdas

Engineering Management in Production and Services

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2020

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Vol. 12, no. 3

7--17

EN

Corporate activity diversification is a promising but at the same time risky condition of a company’s adaptation to the business environment. Effectiveness of diversification processes in enterprises may be achieved by research in the following areas: development of methods of internal and external business environment analysis as a basis for diversification decisions; understanding the dependence of the scope and nature of corporate activity diversification on the market situation; providing sciencebased advice for the management of diversified companies, especially large ones; improvement in the methods of diversification measuring so that a complex analysis of the diversification process would become implementable. Based on the study of the Lithuanian construction sector, this paper seeks to provide new insights into the following aspects of corporate activity diversification: preconditions and conditions for deciding on corporate activity diversification; the problem of the scale and nature of diversification; organisational management conditions for the success of diversification projects. Furthermore, an in-depth discussion of the problematic of measuring the achieved level of diversification is offered.