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W. Wahyuni, Erzy Pratama Fadryan, and Andri Sahata Sitanggang ∗
5. DISCUSSIONS
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start of the component usage,f is the function that evalu- ates the conformity of the component functionalityF tto the actual requirements ofSt,f∈01. In this case, the strategies for achieving the result can be combined from the following basic components:
1. Formation of the set of requirementsStto the soft- ware in the most convenient way for implementation.
From the perspective of relations between the customer and the developer, the ways of forming the most con- venient set of requirements for implementation can be divided into the following groups:
—Application of a complex of methods and means focused on structuring the requirements and preventing their uncontrolled “evolution” within the framework of the project; facilitating the formation of the implemen- tation strategy;
—Formation of counter propositions.
2. Maximizing the functionalityF timplemented within the framework of the component under consideration to the start of the time interval for the use of the developed component. Implementation of the functionality takes into account the current set of requirementsStand the fore- cast about the possibility of its change, as well as avail- able design techniques and skills of the development team.
Most of the proposed strategies for solving this problem are based on empirical data, because the development and use of mathematical models in this case is difficult due to the following reasons:
—High significance and unpredictability of the human factor;
—Ineffectiveness of formal approaches to organizing the work of small teams;
—Strong dependence of the result on the applied tech- nologies and development languages.
3. Maximization of the amount of time [T0,T0+T] during which the developed component is used. The time of the component use depends on the following factors:
—Elaboration of requirements that reduces the variabil- ity of the setStand, as a consequence, increases the time intervalT, during which the component is used;
—Application in the process of developing a com- ponent of the methods providing for the possibility of making changes (object-oriented approach, flexible architecture, etc.);
—Pre-defined strategy of support and improvement of the component in the process of its use (management of user requirements, documentation of solutions and technologies, human factor integration).
From the organizational point of view, the project is described by a set of artifacts b1 bm, which are selected from a standard setB0 of possible artifacts of all the listed types. To form each artifact within the project (for adaptation in the case of third-party subsystems), one or more methodsa1 anare used from the general set
of approachesA0, formed on the basis of the analysis of different techniques applicability to the production of arti- facts. In doing so the following set of artifacts is used:
1.Document. A document is understood as an artifact containing descriptive, recommendatory or reference infor- mation that affects the decision-making process in the use of project results.
2.Component. A component is understood as an artifact created by the project team to solve any problems of the project.
3.Third-party subsystem. A third-party subsystem is understood as an artifact used in the “As-Is” project and described by a “black box” metaphor with certain inputs, outputs, states and behaviors.
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decisions possesses much greater degree of transparency for a DM (decision maker). It is important in decision making in the case of problems with high degree of uncer- tainty to which the design of pathways of ESS evolution also belongs.
6. CONCLUSION
As can be seen from the above, the use of multiple-path synthesis principles in the planning of ESS architectures allows you to achieve the following results:
1. To achieve a rational organization of the ESS building process.
2. To design a flexible application structure suitable for scaling and implementation during the system evolution.
3. To ensure the rapid creation of the business logic con- cern that can provide a significant competitive advantage and ensure the efficient use of development resources.
References
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Technical Innovation Center. ISBN: 978-0-9640740-5-7.
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3. Przybyłek, A., 2018. An empirical study on the impact of AspectJ on software evolvability. Empirical Software Engineering, 23(4), pp.2018–2050.
4. Schwab, K.,2017. The Fourth Industrial Revolution, Crown Busi- ness, New York, p.192.
5. Schwab, K.,2017. The Fourth Industrial Revolution: What it Means, How to Respond (2016), In World Economic Forum.
6. Lvovich, Ya. E.,2006. Multi-Alternative Optimization: Theory and Application, Kvarta, Voronezh. p.425.
7. Rapid Foresight Methodology 0.4.,2017. Communities of Practice Developers Moscow, p.92.
8. Goltz, U., Reussner, R.H., Goedicke, M., Hasselbring, W., Märtin, L.
and Vogel-Heuser, B.,2015. Design for future: Managed software evolution. Computer Science-Research and Development, 30(3–4), pp.321–331.
9. Dell’Anna, D., Dalpiaz, F. and Dastani, M.,2019. Requirements- driven evolution of sociotechnical systems via probabilistic rea- soning and hill climbing.Automated Software Engineering, 26(3), pp.513–557.
10. Ryndin, A.A., 2018. Multiple Integration: Theory and Applica- tions in CAD: Monograph. Voronezh, Voronezh State Technical University, p.362.
11. 2014. Object Management Group, Essence-Kernel and Lan- guage for Software Engineering Methods (Essence), November, (http://www.omg.org/spec/Essence/).
12. Klotins, E., Unterkalmsteiner, M. and Gorschek, T., 2019. Soft- ware engineering in start-up companies: An analysis of 88 expe- rience reports. Empirical Software Engineering, 24(1), pp.68–102;
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Received: 2 November 2019. Accepted: 14 November 2019.
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Printed in the United States of America
Computational and Theoretical Nanoscience Vol. 16, 5370–5377, 2019
Challenges in the International Business Market Through Fixed Currency Systems: A Study Based on Business
Scenario in UAE
C. T. Sunil Kumar
1∗, V. P. Sriraman
2, and Mahesh R. Pillai
31Research Scholar, Bharathidasan University, Tiruchirapally 620024, India
2BIM-CD Bharathidasan Institute of Management, Bharathidasan University, Tiruchirapally 620024, India
3College of Business Emirates Canadian University College, Umm Al Quwain 536, United Arab Emirates
The contemporary global business scenario is significantly dynamic that incorporates modern finan- cial and business potentials and possibilities making business avenues simultaneously flexible and fair. Until recent past sea was considered as worst option to reach nations for doing business. How- ever, after realization of the concept that business can easily be spread beyond national boundaries, men started conquering lands for conducting business and to earn higher income and profit. Conse- quently, the business faced the challenge of meeting larger demands of goods and services across the nations, as a results business started dealings in number of possibilities such as exchange of facilities, barter system, gold/silver related commodities. Meanwhile, the disadvantage of doing business across borders in such a way was widely propagated. As a result nations and business were forced to use a unique and commonly accepted commodity as a medium of exchange, which should overcome the problems of barter system and gold rates system. This led to the birth of modern currency and further advancements in the form of financial instruments including paper currencies and bullion exchanges. Majority of the modern day business are guided by the profit, and doing business in international currency relatively increases the rate of profit. At the beginning nations started exploring number of possibilities of trade on the basis of fixed and floating exchange rate for capital gains. This modern type of multiple payment settlement system in business across borders has increased the attractiveness of international business; customers search for quality products at competitive prices. Consequently, companies and even economies have been consid- ering international business as best alternative for earing higher profits while at the same time doing business with developed and stable economies. Trade among countries and regions needs unified currency, which has been made easy through introduction of fixed and floating exchange rate systems. Countries entering into international trade agreements either fix-up a common value for the currency in which regular trading happens with another nation or tie up with the currency of a develop economy. The fixed exchange rate system has enabled countries to make prior financial arrangements required for modern day businesses. Present study has been carried out to properly examine the currency arrangements in UAE against US Dollars and other GCC countries’ curren- cies. Hence the study has evaluated the expected benefits of fixed exchange rate system in case of UAE. In addition to that, prime factors that significantly affect the process of pegging UAE currency against major currencies such as USD, Euro, and Pound Sterling have also been examined.
Keywords: International Business, Currency Pegging System, Currency Rate Fluctuations.
1. INTRODUCTION
History reveals that the currency evolution process has its roots back into 2000 BC; the time when transac- tion were carried out through barter system. The barter system was then replaced by metals with denominations
∗Author to whom correspondence should be addressed.
expressed as values and symbols. This system last for number of decades, during which the precious metals were used as a common medium of transaction. With the pas- sage of time, the demerits of this system become evident;
money value being dictated against national income. Con- sequently, it becomes significantly important for policy makers to devise strategies for ensuring stability of fixed
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exchange rate system [1]. According to Ref. [2] empirical review of the history exposes that global economic crisis results in the depreciation of currencies around the globe.
During the great depression the values of the currencies depreciated that was pegged with US dollar, particularly for the case of AED. This phenomenon was explicitly evi- dent in global money markets and also in UAE market.
A great significant of fixed exchange rate system is that business across borders enter into deal based on the values fixed against international currency; leaving no room for speculation.
The study in this area is intended to explain the following:-
1. To analyze the benefits of currency pegging of AED against USD to UAE economy.
2. To examine the benefits gained in the international busi- ness scenario mainly in the areas of international trade involving import and export of commodities as well as oil and gas.
3. To review the business benefits against the float- ing exchange rate system and to explain the alternative arrangements which can develop the region’s economy.