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Business Economics: Knowledge and Energy - Capital "KEC"

In: Business and Management Annual Volume 2023

Author

Listed:
  • Hemmat Safwat

Abstract

Cost Estimation in many industries follow traditional methods that makes use of historical data compiled by the enterprise. The Knowledge "K" & Energy "E" (KE) Model recently published by the author takes a different approach, under this approach tasks are represented by combination of K & E referred to the KE pair, the K is represented in Joules. In this paper the KE Model is expanded to include Capital "C", thus the model of KEC model. Before the KEC model is introduced, a comparison of the products and services P&S markets and energy system is presented. This reinforces the presentation of knowledge by Joules. The phases of project development as they relate to capital is discussed. The relevance of profits and risks for capital investments is underlined. The challenges faced for representing the capital C in Joules are discussed. The proposed initial application faces difficulties in obtaining readily available data, However, when the data base is built there could be significant benefit in getting in-depth insights on the effects of the various components in the costs of a product and service.

Suggested Citation

  • Hemmat Safwat, 2023. "Business Economics: Knowledge and Energy - Capital "KEC"," Chapters, in: Vito Bobek & Tatjana Horvat (ed.), Business and Management Annual Volume 2023, IntechOpen.
    • Handle: RePEc:ito:pchaps:326262
    DOI: 10.5772/intechopen.113331
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    More about this item

    Keywords

    cost estimation; knowledge; energy; KE model; integration of the products and services markets and electric systems; profits and risks; KEC model;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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