PRODUCT management, RAPID prototyping, INDUSTRIAL research, and COMMERCIAL products
The impact of weather on many commercial and recreational activities is significant and varies both geographically and seasonally. Many industries, including agriculture, energy, utilty, constraction, tourism and other businesses are either favorably or adversely affected by "bad" weather. For this reason, the financial markets have devised a relatively new class of instruments, colled weather derivatives, the first of which were lounched in 1996 in the United States. There are number of factors behind the growth of the weather derivatives market. One of these is deregulation of the energy markets. Another one is that the capital markets and insurance markets has come closer to each other. There are a large number of weather variables that could be used as a underlying measure of index: temperature (maximum, minimum, mean), precipitation levels (rain or snow), hours of sunshine, wind speed and ect. Derivatives based on temperature are dominated in the market (90% of the total traded weather derivatives). Commonly referenced weather indexes include heating degree day (HDD) and cooling degree day (CDD). The Chicago Mercantile Exchange traded futures and options on temperature indexes for eighteen U.S. cities, for nine Europeen and two Japanese cities.The London International Financial Futures Exchange (LIFFE) has traded monthly and "winter season" indexes based on temperature, which are available for 3 location - London, Paris and Berlin. In Lithuania businesses activities to protect themselves against the possible adverse efects of weather used traditional insuranse contracts, but that cannot take care of the need to hedge against the all outcomes of the weather. The main difference between derivatives and insurance contracts is that the holder an insurance contract has to prove that he has suffered a financial los due to weather in order to be compensated. Payouts of weather derivatives are based only on actual outcome of the weather, regardless of how it effects the holder of the derivative. Insurance contracts are usually designed to protect the holder from extreme weather events while the weather derivatives can be constructed to have payouts in any weather conditions. For this reasons, there are potencial needs to set up over the counter (OTC) weather contractes in Lithuania. Also, the analysis of a dataset of monthly mean temperatures observed in Vilnius, Kaunas, Klaipeda and Stokholm over a period of 30 years show up a strong positive correlation between temperature time series in Klaipeda and Stokholm. It seems that for businesses entities in Klaipeda shoud be available to use Stokholm temperature index traded at the CME. [ABSTRACT FROM AUTHOR]
Management of Organizations: Systematic Research. 2006, Issue 37, p105-118. 14p.
NEW product development, COMMERCIAL products, RAPID prototyping, PRODUCT management, INDUSTRIAL research, and MARKETING
The article presents communicational and analytical models of new product diffusion. The models explain how advertising affects new product adopters, the stages of effects, what adopter groups should be targeted, what should be the optimal content of new product advertising. [ABSTRACT FROM AUTHOR]
Business has not got unanimous methodologies for screening ideas of new product, especially service. Furthermore, various authors approach the criteria of ideas screening differently. Offered pattern for evaluating ideas of new service consists of 5 components. Every component is argued and commented in the article. Ideas are needed to differentiate into categories by the offered methodology, then evaluate by two criteria, after that the rates of criteria have to be synthesized and decision made for new idea implementation by the results of synthesis. There are 5 rates offered for the expression of the criteria. It is possible to differentiate ideas by the grade and then to decide in objective way, which ideas are the best. Flexible structure of the pattern makes it possible to make a decision by the value of partial criteria and to stop the process of evaluating, when it is ascertained, that idea development is not purposeful at least by one criterion. So, such evaluating makes it possible to obviate some unproductive expenditure. [ABSTRACT FROM AUTHOR]