Revista y Edición

Volumen 12 (2021): Edición 2 (December 2021)

Volumen 12 (2021): Edición 1 (May 2021)

Volumen 11 (2020): Edición 3 (November 2020)

Volumen 11 (2020): Edición 2 (October 2020)

Volumen 11 (2020): Edición 1 (March 2020)

Volumen 10 (2019): Edición 2 (September 2019)

Volumen 10 (2019): Edición 1 (April 2019)

Volumen 9 (2018): Edición 2 (July 2018)

Volumen 9 (2018): Edición 1 (March 2018)

Volumen 8 (2017): Edición 2 (September 2017)

Volumen 8 (2017): Edición 1 (March 2017)

Volumen 7 (2016): Edición 2 (September 2016)

Volumen 7 (2016): Edición 1 (March 2016)

Volumen 6 (2015): Edición 2 (September 2015)

Volumen 6 (2015): Edición 1 (March 2015)

Volumen 5 (2014): Edición 3 (September 2014)
“Novel solutions or novel approaches in Operational Research” co-published with the Slovenian Society INFORMATIKA – Section for Operational Research (SDI-SOR), Edición Editors: Ksenija Dumičić (University of Zagreb), Lidija Zadnik Stirn (University of Ljubljana), and Janez Žerovnik (University of Ljubljana)

Volumen 5 (2014): Edición 2 (June 2014)

Volumen 5 (2014): Edición 1 (March 2014)
Special Edición: Embedded Systems Applications: Future Society Applications

Volumen 4 (2013): Edición 2 (December 2013)

Volumen 4 (2013): Edición 1 (March 2013)

Volumen 3 (2012): Edición 2 (September 2012)
"Innovative Approaches to Operations Research Methodology and Its Applications in Business, Economics, Management and Social Sciences" co-published with the Slovenian Society INFORMATIKA - Section for Operational Research (SDI-SOR)

Volumen 3 (2012): Edición 1 (June 2012)

Volumen 2 (2011): Edición 2 (June 2011)

Volumen 2 (2011): Edición 1 (January 2011)

Volumen 1 (2010): Edición 1-2 (January 2010)

Detalles de la revista
Formato
Revista
eISSN
1847-9375
Publicado por primera vez
19 Sep 2012
Periodo de publicación
2 veces al año
Idiomas
Inglés

Buscar

Volumen 11 (2020): Edición 2 (October 2020)

Detalles de la revista
Formato
Revista
eISSN
1847-9375
Publicado por primera vez
19 Sep 2012
Periodo de publicación
2 veces al año
Idiomas
Inglés

Buscar

12 Artículos
access type Acceso abierto

Editorial for the special issue: “Novel Solutions and Novel Approaches in Operational Research”

Publicado en línea: 29 Oct 2020
Páginas: 1 - 6

Resumen

Abstract

This special issue of Business Systems Research (SI of the BSR) is co-published by the Slovenian Society INFORMATIKA – Section for Operational Research (SSI-SOR) and highlights recent advances in Operations Research and Management Science (OR /MS), with a focus on linking OR /MS with other areas of quantitative and qualitative methods in a multidisciplinary framework. Eleven papers selected for this SI of the BSR present improvements and new techniques (methodology) in Operations Research (OR) and their application in various fields of economics, business, spatial science, smart mobility, higher education, human resources, environment, agriculture and social networks.

Palabras clave

  • interdisciplinary research
  • operations research
  • risk and uncertainty
  • statistical analysis
  • machine learning
  • multi-criteria decision making
  • big data
  • location-allocation
  • fuzzy logic
  • graph theory
  • project management
  • system dynamics
  • simulation methods
access type Acceso abierto

Green Practices as a Path towards the Sustainability: Evidence from Portuguese Companies

Publicado en línea: 29 Oct 2020
Páginas: 7 - 20

Resumen

Abstract

Background: In the last years, the concept of sustainability has been receiving global attention from academics, the public sector and practitioners. The high level of industrialization has contributed to the increase of environmental impacts on the environment and the society. To give a sustainable answer to the industrial sector, more strategies aimed at reducing the environmental and social impacts should be considered.

Objectives: This research aims to evaluate the level of environmental practices in a set of companies from the northern region of Portugal.

Methods/Approach: In order to achieve the objective of this research, several steps were taken, and approach is mainly based on an online questionnaire administered in a set of companies.

Results: The initial results show that companies are progressing when it comes to the implementation of measures and practices related to sustainability.

Conclusions: The study resulted in suggestions for consulted companies, namely the need for effective mechanics to ensure compulsory but expedite environmental procedures along with procedures control, which is a key factor in ensuring sustainable and green practices.

Palabras clave

  • green practices
  • sustainability
  • Portugal
  • statistical analysis

JEL Classification

  • L16
access type Acceso abierto

Comparison of Two Network-Theory-Based Methods for detecting Functional Regions

Publicado en línea: 29 Oct 2020
Páginas: 21 - 35

Resumen

Abstract

Background: Functional regions are abstract, uniformly defined territorial units that form an important basis for many development strategies of a country or a region.

Objectives: This study analyses the application of network theory to the detection of such regions.

Methods/Approach: Functional regions are analysed using two methods based on the graph theory: the Walktrap algorithm and the chain approach. The quality of the two regionalization methods is analysed using the fuzzy set theory with the revised method. Slovenia was used as a case study.

Results: The Walktrap algorithm generated eight functional regions; seven of them corresponded to those identified in previous studies. The only difference occurred in the northwestern mountainous part of Slovenia. The chain approach led to similar results, although it resulted in a huge functional urban region of the capital Ljubljana.

Conclusions: The results show that the Walktrap algorithm calculates regions that are more closed, where more workers find work in the home region, than the chain approach.

Palabras clave

  • functional regionalisation
  • graphs
  • Walktrap algorithm
  • chain method
  • fuzzy sets
  • Slovenia

JEL Classification

  • C02
  • J61
  • C44
  • R23
access type Acceso abierto

Deep Learning Predictive Models for Terminal Call Rate Prediction during the Warranty Period

Publicado en línea: 29 Oct 2020
Páginas: 36 - 50

Resumen

Abstract

Background: This paper addresses the problem of products’ terminal call rate (TCR) prediction during the warranty period. TCR refers to the information on the amount of funds to be reserved for product repairs during the warranty period. So far, various methods have been used to address this problem, from discrete event simulation and time series, to machine learning predictive models.

Objectives: In this paper, we address the above named problem by applying deep learning models to predict terminal call rate.

Methods/Approach: We have developed a series of deep learning models on a data set obtained from a manufacturer of home appliances, and we have analysed their quality and performance.

Results: Results showed that a deep neural network with 6 layers and a convolutional neural network gave the best results.

Conclusions: This paper suggests that deep learning is an approach worth exploring further, however, with the disadvantage being that it requires large volumes of quality data.

Palabras clave

  • manufacturing
  • product lifecycle
  • management product failure
  • machine learning
  • prediction

JEL Classification

  • C45
  • C53
access type Acceso abierto

Process Mining Contributions to Discrete-event Simulation Modelling

Publicado en línea: 29 Oct 2020
Páginas: 51 - 72

Resumen

Abstract

Background: Over the last 20 years, process mining has become a vibrant research area due to the advances in data management technologies and techniques and the advent of new process mining tools. Recently, the links between process mining and simulation modelling have become an area of interest.

Objectives: The objective of the paper was to demonstrate and assess the role of process mining results as an input for discrete-event simulation modelling, using two different datasets, one of which is considered data-poor while the other one data-rich.

Methods/Approach: Statistical calculations and process maps were prepared and presented based on the event log data from two case studies (smart mobility and higher education) using a process mining tool. Then, the implications of the results across the building blocks (entities, activities, control-flows, and resources) of simulation modelling are discussed.

Results: Apart from providing a rationale and the framework for simulation that is more efficient modelling based on process mining results, the paper provides contributions in the two case studies by deliberating and identifying potential research topics that could be tackled and supported by the new combined approach.

Conclusions: Event logs and process mining provide valuable information and techniques that could be a useful input for simulation modelling, especially in the first steps of building discreteevent models, but also for validation purposes.

Palabras clave

  • process mining
  • event log
  • simulation model
  • smart mobility

JEL Classification

  • M15
access type Acceso abierto

Portfolio Optimization Efficiency Test Considering Data Snooping Bias

Publicado en línea: 29 Oct 2020
Páginas: 73 - 85

Resumen

Abstract

Background: In the portfolio optimization area, most of the research is focused on insample portfolio optimization. One may ask a rational question of what the efficiency of the portfolio optimization strategy is and how to measure it.

Objectives: The objective of the paper is to propose the approach to measuring the efficiency of the portfolio strategy based on the hypothesis inference methodology and considering a possible data snooping bias. The proposed approach is demonstrated on the Markowitz minimum variance model and the fuzzy probabilities minimum variance model.

Methods/Approach: The proposed approach is based on a statistical test. The null hypothesis is that the analysed portfolio optimization strategy creates a portfolio randomly, while the alternative hypothesis is that an optimized portfolio is created in such a way that the risk of the portfolio is lowered.

Results: It is found out that the analysed strategies indeed lower the risk of the portfolio during the market’s decline in the global financial crisis and in 94% of the time in the 2009-2019 period.

Conclusions: The analysed strategies lower the risk of the portfolio in the out-of-sample period.

Palabras clave

  • data snooping bias
  • financial crisis
  • hypothesis test
  • minimum-risk portfolio
  • portfolio optimization

JEL Classification

  • G11
  • G17
access type Acceso abierto

Improving Mental Wellbeing in Organizations with Targeted Psychosocial Interventions

Publicado en línea: 29 Oct 2020
Páginas: 86 - 98

Resumen

Abstract

Background: Mental wellbeing of employees is crucial for successful organizations. Psychosocial interventions that target highly contagious individuals (i.e., individuals that can ‘transmit’ their wellbeing to others) could efficiently improve overall wellbeing in the workplace.

Objectives: Using the magnitudes of effects observed in existing studies on psychosocial interventions and the contagion of mental wellbeing, we aimed to examine how the wellbeing of a group (based on WHO-5 Well-Being Index scores) changes if interventions are provided to highly contagious people instead of randomly selected individuals.

Methods/Approach: Based on the data on mental wellbeing of 414 nursing home employees, we created a social network that includes individual levels of wellbeing and the strength of the connection between people. Simulation-based influence-maximization was used on the network and interventions were interventions were provided to either contagious or randomly selected individuals.

Results: Overall, mental wellbeing of the group increased slightly more when individuals had received a simulated psychosocial intervention in order of contagiousness compared to the cases in which interventions were provided to randomly selected individuals.

Conclusions: Selectively targeting highly contagious individuals could be an efficient approach to improving wellbeing in organizations, especially in social contexts, where the contagion of mental wellbeing is likelier.

Palabras clave

  • mental wellbeing
  • network science
  • social contagion
  • infection model
  • influence maximization

JEL Classification

  • C6
access type Acceso abierto

Selection of Project Managers: An Overview

Publicado en línea: 29 Oct 2020
Páginas: 99 - 116

Resumen

Abstract

Background: The project manager choice is one of the most important, complicated and multi-layered decisions in project management. Although the competence of a project manager is the subject of numerous studies, mostly in the field of economic sciences, there are still relatively few studies dealing with project manager selection.

Objectives: The aim of this paper is to provide a useful overview of research on approaches, models, techniques, and competencies during the process of selecting project managers, in order to improve understanding an effective process of selecting project managers from academic researchers and practitioners’ point of view.

Methods/Approach: This article is a scientific review of previously published studies that are linked to competencies of a project manager and the process of project manager selection according to the traditional and the modern approach.

Results: The process of selecting project managers is not sufficiently investigated in Croatia, while most of the research is focused to traditional approach.

Conclusions: In this work, we propose a combination of the traditional and the modern approach to the selection of project managers, which would be based on the multicriteria decision making.

Palabras clave

  • manager
  • project
  • approach
  • competence
  • model
  • criterion

JEL Classification

  • L21
  • M21
  • M 54
access type Acceso abierto

Pension Pessimism in the Young Generation: Basics or Instincts to Blame?

Publicado en línea: 29 Oct 2020
Páginas: 117 - 131

Resumen

Abstract

Background: The area of pension expectations in Hungary is barely researched. However, the importance of adequate financial literacy and self-provision is becoming obvious at the economic, the decision-making, and the individual level.

Objectives: Our research is conducted to investigate state pension expectations and certain aspects of financial literacy of the young generation, and to find a behavioral explanation for their pessimistic attitude.

Methods/Approach: Using a 14-question questionnaire, we collected answers from Hungarian financially educated, young people. Two hypotheses were investigated by the Principal Component Analysis (PCA). Besides, a comparative analysis was conducted to connect the survey results with the ten instincts published by Hans Rosling in his book ‘Factfulness’.

Results: The outcomes are in harmony with prior expectations, i.e. i) students in finance major are aware of the connection between a longer working period and a higher retirement income; and ii) despite the unisex pension scheme there are gender differences in the expected pension age. In the comparative analysis with ‘Factfulness’, we identified five instincts that lie behind the general pessimism of respondents.

Conclusions: State pension expectations of the Hungarian young generation are overly pessimistic, the same attitude being found in international literature, as well. Pessimistic expectations can be explained using some of the ten instincts by Rosling.

Palabras clave

  • retirement income
  • social security expectations
  • financial literacy

JEL Classification

  • G4
  • G510
  • G530
access type Acceso abierto

A System Dynamics Approach to Decision-making Tools in Farm Tourism Development

Publicado en línea: 29 Oct 2020
Páginas: 132 - 148

Resumen

Abstract

Background: Besides visiting the main tourist attractions in Slovenia, many tourists want to spend their free time in the countryside as well, but the number of farming establishments in Slovenia diminished distinctly in the last years.

Objectives: This paper aims to develop a system dynamics model, with the goal to analyse dynamics of the diversification of agricultural holdings into farm tourism activities in Slovenia.

Methods/Approach: A system dynamics methodology was chosen to model the diversification in farm tourism. First, we present a basic concept of a system dynamics model with a causal loop diagram. Further, a system dynamics model with different scenarios is presented.

Results: The main feedback loops were identified, and the simulation model was used to analyse different simulation scenarios of the transition of farming establishments into farm tourism facilities.

Conclusions: The model provides the answers to the strategic questions about the dynamics of transfer into tourist farms, using several simulation scenarios. The transition mainly relies on subsidies, promotion of diversification and the growth of rural tourism, which provides a relevant direction for the development of future incentives.

Palabras clave

  • farm tourism
  • rural tourism
  • modelling
  • system dynamics
  • causal loop diagram
  • simulation

JEL Classification

  • Q13
access type Acceso abierto

Standard Project Risk Analysis Approach

Publicado en línea: 29 Oct 2020
Páginas: 149 - 158

Resumen

Abstract

Background: To stay competitive in a highly unpredictable market of today, companies must be able to manage project risks effectively. The basis for an effective risk management is a thorough risk analysis. Despite the availability of many different risk analysis approaches, companies can be reluctant to use them, since the models are usually complex and very time consuming.

Objectives: The main objective is to present a simple, yet effective risk analysis approach that can also serve as a useful basis for resolving project risks.

Methods/Approach: The proposed standard risk analysis approach is based on a standard risk model that deals with risk events and impacts separately and therefore allows for a separate planning of preventive and corrective measures. To classify risks and to represent them graphically, a risk map is used.

Results: The use of the proposed approach is illustrated on a die-cast tool development project. The approach proved to be very simple to use and it served as a useful basis for resolving the identified risks.

Conclusions: The main advantage of the proposed approach is its simplicity and clarity. It can also be used as a quick decision-making tool in a subsequent risk resolving process.

Palabras clave

  • risk management
  • risk analysis
  • standard risk model
  • risk map

JEL Classification

  • O22
  • O32
access type Acceso abierto

An Investigation of Business Process Maturity: Report on Croatian Companies

Publicado en línea: 29 Oct 2020
Páginas: 159 - 165

Resumen

Abstract

Background: Nowadays, organizations try to improve their performance by focusing on the business process orientation (BPO) perspective. This perspective views companies as a mixture of unified business processes. A few methodologies can be used for analysing BPO maturity state. The maturity model shows the level of acceptance of the process-oriented approach in the business practice of a certain company. Recognizing different BPO levels can help companies execute, improve and manage their processes.

Objectives: The primary aim of this research is to give a report on BPO maturity of Croatian companies and to stress the importance of key turning points.

Methods/Approach: The cluster analysis method was used to analyse the survey results.

Results: Croatian companies are currently evolving from the Defined level to the Linked level of BPO maturity.

Conclusions: The results of the cluster analysis have shown that companies in Croatia have to improve all key turning points, with a special emphasis on the strategic view.

Palabras clave

  • process management
  • business maturity
  • cluster analysis
  • Croatian companies
  • turning points

JEL Classification

  • M15
  • M21
12 Artículos
access type Acceso abierto

Editorial for the special issue: “Novel Solutions and Novel Approaches in Operational Research”

Publicado en línea: 29 Oct 2020
Páginas: 1 - 6

Resumen

Abstract

This special issue of Business Systems Research (SI of the BSR) is co-published by the Slovenian Society INFORMATIKA – Section for Operational Research (SSI-SOR) and highlights recent advances in Operations Research and Management Science (OR /MS), with a focus on linking OR /MS with other areas of quantitative and qualitative methods in a multidisciplinary framework. Eleven papers selected for this SI of the BSR present improvements and new techniques (methodology) in Operations Research (OR) and their application in various fields of economics, business, spatial science, smart mobility, higher education, human resources, environment, agriculture and social networks.

Palabras clave

  • interdisciplinary research
  • operations research
  • risk and uncertainty
  • statistical analysis
  • machine learning
  • multi-criteria decision making
  • big data
  • location-allocation
  • fuzzy logic
  • graph theory
  • project management
  • system dynamics
  • simulation methods
access type Acceso abierto

Green Practices as a Path towards the Sustainability: Evidence from Portuguese Companies

Publicado en línea: 29 Oct 2020
Páginas: 7 - 20

Resumen

Abstract

Background: In the last years, the concept of sustainability has been receiving global attention from academics, the public sector and practitioners. The high level of industrialization has contributed to the increase of environmental impacts on the environment and the society. To give a sustainable answer to the industrial sector, more strategies aimed at reducing the environmental and social impacts should be considered.

Objectives: This research aims to evaluate the level of environmental practices in a set of companies from the northern region of Portugal.

Methods/Approach: In order to achieve the objective of this research, several steps were taken, and approach is mainly based on an online questionnaire administered in a set of companies.

Results: The initial results show that companies are progressing when it comes to the implementation of measures and practices related to sustainability.

Conclusions: The study resulted in suggestions for consulted companies, namely the need for effective mechanics to ensure compulsory but expedite environmental procedures along with procedures control, which is a key factor in ensuring sustainable and green practices.

Palabras clave

  • green practices
  • sustainability
  • Portugal
  • statistical analysis

JEL Classification

  • L16
access type Acceso abierto

Comparison of Two Network-Theory-Based Methods for detecting Functional Regions

Publicado en línea: 29 Oct 2020
Páginas: 21 - 35

Resumen

Abstract

Background: Functional regions are abstract, uniformly defined territorial units that form an important basis for many development strategies of a country or a region.

Objectives: This study analyses the application of network theory to the detection of such regions.

Methods/Approach: Functional regions are analysed using two methods based on the graph theory: the Walktrap algorithm and the chain approach. The quality of the two regionalization methods is analysed using the fuzzy set theory with the revised method. Slovenia was used as a case study.

Results: The Walktrap algorithm generated eight functional regions; seven of them corresponded to those identified in previous studies. The only difference occurred in the northwestern mountainous part of Slovenia. The chain approach led to similar results, although it resulted in a huge functional urban region of the capital Ljubljana.

Conclusions: The results show that the Walktrap algorithm calculates regions that are more closed, where more workers find work in the home region, than the chain approach.

Palabras clave

  • functional regionalisation
  • graphs
  • Walktrap algorithm
  • chain method
  • fuzzy sets
  • Slovenia

JEL Classification

  • C02
  • J61
  • C44
  • R23
access type Acceso abierto

Deep Learning Predictive Models for Terminal Call Rate Prediction during the Warranty Period

Publicado en línea: 29 Oct 2020
Páginas: 36 - 50

Resumen

Abstract

Background: This paper addresses the problem of products’ terminal call rate (TCR) prediction during the warranty period. TCR refers to the information on the amount of funds to be reserved for product repairs during the warranty period. So far, various methods have been used to address this problem, from discrete event simulation and time series, to machine learning predictive models.

Objectives: In this paper, we address the above named problem by applying deep learning models to predict terminal call rate.

Methods/Approach: We have developed a series of deep learning models on a data set obtained from a manufacturer of home appliances, and we have analysed their quality and performance.

Results: Results showed that a deep neural network with 6 layers and a convolutional neural network gave the best results.

Conclusions: This paper suggests that deep learning is an approach worth exploring further, however, with the disadvantage being that it requires large volumes of quality data.

Palabras clave

  • manufacturing
  • product lifecycle
  • management product failure
  • machine learning
  • prediction

JEL Classification

  • C45
  • C53
access type Acceso abierto

Process Mining Contributions to Discrete-event Simulation Modelling

Publicado en línea: 29 Oct 2020
Páginas: 51 - 72

Resumen

Abstract

Background: Over the last 20 years, process mining has become a vibrant research area due to the advances in data management technologies and techniques and the advent of new process mining tools. Recently, the links between process mining and simulation modelling have become an area of interest.

Objectives: The objective of the paper was to demonstrate and assess the role of process mining results as an input for discrete-event simulation modelling, using two different datasets, one of which is considered data-poor while the other one data-rich.

Methods/Approach: Statistical calculations and process maps were prepared and presented based on the event log data from two case studies (smart mobility and higher education) using a process mining tool. Then, the implications of the results across the building blocks (entities, activities, control-flows, and resources) of simulation modelling are discussed.

Results: Apart from providing a rationale and the framework for simulation that is more efficient modelling based on process mining results, the paper provides contributions in the two case studies by deliberating and identifying potential research topics that could be tackled and supported by the new combined approach.

Conclusions: Event logs and process mining provide valuable information and techniques that could be a useful input for simulation modelling, especially in the first steps of building discreteevent models, but also for validation purposes.

Palabras clave

  • process mining
  • event log
  • simulation model
  • smart mobility

JEL Classification

  • M15
access type Acceso abierto

Portfolio Optimization Efficiency Test Considering Data Snooping Bias

Publicado en línea: 29 Oct 2020
Páginas: 73 - 85

Resumen

Abstract

Background: In the portfolio optimization area, most of the research is focused on insample portfolio optimization. One may ask a rational question of what the efficiency of the portfolio optimization strategy is and how to measure it.

Objectives: The objective of the paper is to propose the approach to measuring the efficiency of the portfolio strategy based on the hypothesis inference methodology and considering a possible data snooping bias. The proposed approach is demonstrated on the Markowitz minimum variance model and the fuzzy probabilities minimum variance model.

Methods/Approach: The proposed approach is based on a statistical test. The null hypothesis is that the analysed portfolio optimization strategy creates a portfolio randomly, while the alternative hypothesis is that an optimized portfolio is created in such a way that the risk of the portfolio is lowered.

Results: It is found out that the analysed strategies indeed lower the risk of the portfolio during the market’s decline in the global financial crisis and in 94% of the time in the 2009-2019 period.

Conclusions: The analysed strategies lower the risk of the portfolio in the out-of-sample period.

Palabras clave

  • data snooping bias
  • financial crisis
  • hypothesis test
  • minimum-risk portfolio
  • portfolio optimization

JEL Classification

  • G11
  • G17
access type Acceso abierto

Improving Mental Wellbeing in Organizations with Targeted Psychosocial Interventions

Publicado en línea: 29 Oct 2020
Páginas: 86 - 98

Resumen

Abstract

Background: Mental wellbeing of employees is crucial for successful organizations. Psychosocial interventions that target highly contagious individuals (i.e., individuals that can ‘transmit’ their wellbeing to others) could efficiently improve overall wellbeing in the workplace.

Objectives: Using the magnitudes of effects observed in existing studies on psychosocial interventions and the contagion of mental wellbeing, we aimed to examine how the wellbeing of a group (based on WHO-5 Well-Being Index scores) changes if interventions are provided to highly contagious people instead of randomly selected individuals.

Methods/Approach: Based on the data on mental wellbeing of 414 nursing home employees, we created a social network that includes individual levels of wellbeing and the strength of the connection between people. Simulation-based influence-maximization was used on the network and interventions were interventions were provided to either contagious or randomly selected individuals.

Results: Overall, mental wellbeing of the group increased slightly more when individuals had received a simulated psychosocial intervention in order of contagiousness compared to the cases in which interventions were provided to randomly selected individuals.

Conclusions: Selectively targeting highly contagious individuals could be an efficient approach to improving wellbeing in organizations, especially in social contexts, where the contagion of mental wellbeing is likelier.

Palabras clave

  • mental wellbeing
  • network science
  • social contagion
  • infection model
  • influence maximization

JEL Classification

  • C6
access type Acceso abierto

Selection of Project Managers: An Overview

Publicado en línea: 29 Oct 2020
Páginas: 99 - 116

Resumen

Abstract

Background: The project manager choice is one of the most important, complicated and multi-layered decisions in project management. Although the competence of a project manager is the subject of numerous studies, mostly in the field of economic sciences, there are still relatively few studies dealing with project manager selection.

Objectives: The aim of this paper is to provide a useful overview of research on approaches, models, techniques, and competencies during the process of selecting project managers, in order to improve understanding an effective process of selecting project managers from academic researchers and practitioners’ point of view.

Methods/Approach: This article is a scientific review of previously published studies that are linked to competencies of a project manager and the process of project manager selection according to the traditional and the modern approach.

Results: The process of selecting project managers is not sufficiently investigated in Croatia, while most of the research is focused to traditional approach.

Conclusions: In this work, we propose a combination of the traditional and the modern approach to the selection of project managers, which would be based on the multicriteria decision making.

Palabras clave

  • manager
  • project
  • approach
  • competence
  • model
  • criterion

JEL Classification

  • L21
  • M21
  • M 54
access type Acceso abierto

Pension Pessimism in the Young Generation: Basics or Instincts to Blame?

Publicado en línea: 29 Oct 2020
Páginas: 117 - 131

Resumen

Abstract

Background: The area of pension expectations in Hungary is barely researched. However, the importance of adequate financial literacy and self-provision is becoming obvious at the economic, the decision-making, and the individual level.

Objectives: Our research is conducted to investigate state pension expectations and certain aspects of financial literacy of the young generation, and to find a behavioral explanation for their pessimistic attitude.

Methods/Approach: Using a 14-question questionnaire, we collected answers from Hungarian financially educated, young people. Two hypotheses were investigated by the Principal Component Analysis (PCA). Besides, a comparative analysis was conducted to connect the survey results with the ten instincts published by Hans Rosling in his book ‘Factfulness’.

Results: The outcomes are in harmony with prior expectations, i.e. i) students in finance major are aware of the connection between a longer working period and a higher retirement income; and ii) despite the unisex pension scheme there are gender differences in the expected pension age. In the comparative analysis with ‘Factfulness’, we identified five instincts that lie behind the general pessimism of respondents.

Conclusions: State pension expectations of the Hungarian young generation are overly pessimistic, the same attitude being found in international literature, as well. Pessimistic expectations can be explained using some of the ten instincts by Rosling.

Palabras clave

  • retirement income
  • social security expectations
  • financial literacy

JEL Classification

  • G4
  • G510
  • G530
access type Acceso abierto

A System Dynamics Approach to Decision-making Tools in Farm Tourism Development

Publicado en línea: 29 Oct 2020
Páginas: 132 - 148

Resumen

Abstract

Background: Besides visiting the main tourist attractions in Slovenia, many tourists want to spend their free time in the countryside as well, but the number of farming establishments in Slovenia diminished distinctly in the last years.

Objectives: This paper aims to develop a system dynamics model, with the goal to analyse dynamics of the diversification of agricultural holdings into farm tourism activities in Slovenia.

Methods/Approach: A system dynamics methodology was chosen to model the diversification in farm tourism. First, we present a basic concept of a system dynamics model with a causal loop diagram. Further, a system dynamics model with different scenarios is presented.

Results: The main feedback loops were identified, and the simulation model was used to analyse different simulation scenarios of the transition of farming establishments into farm tourism facilities.

Conclusions: The model provides the answers to the strategic questions about the dynamics of transfer into tourist farms, using several simulation scenarios. The transition mainly relies on subsidies, promotion of diversification and the growth of rural tourism, which provides a relevant direction for the development of future incentives.

Palabras clave

  • farm tourism
  • rural tourism
  • modelling
  • system dynamics
  • causal loop diagram
  • simulation

JEL Classification

  • Q13
access type Acceso abierto

Standard Project Risk Analysis Approach

Publicado en línea: 29 Oct 2020
Páginas: 149 - 158

Resumen

Abstract

Background: To stay competitive in a highly unpredictable market of today, companies must be able to manage project risks effectively. The basis for an effective risk management is a thorough risk analysis. Despite the availability of many different risk analysis approaches, companies can be reluctant to use them, since the models are usually complex and very time consuming.

Objectives: The main objective is to present a simple, yet effective risk analysis approach that can also serve as a useful basis for resolving project risks.

Methods/Approach: The proposed standard risk analysis approach is based on a standard risk model that deals with risk events and impacts separately and therefore allows for a separate planning of preventive and corrective measures. To classify risks and to represent them graphically, a risk map is used.

Results: The use of the proposed approach is illustrated on a die-cast tool development project. The approach proved to be very simple to use and it served as a useful basis for resolving the identified risks.

Conclusions: The main advantage of the proposed approach is its simplicity and clarity. It can also be used as a quick decision-making tool in a subsequent risk resolving process.

Palabras clave

  • risk management
  • risk analysis
  • standard risk model
  • risk map

JEL Classification

  • O22
  • O32
access type Acceso abierto

An Investigation of Business Process Maturity: Report on Croatian Companies

Publicado en línea: 29 Oct 2020
Páginas: 159 - 165

Resumen

Abstract

Background: Nowadays, organizations try to improve their performance by focusing on the business process orientation (BPO) perspective. This perspective views companies as a mixture of unified business processes. A few methodologies can be used for analysing BPO maturity state. The maturity model shows the level of acceptance of the process-oriented approach in the business practice of a certain company. Recognizing different BPO levels can help companies execute, improve and manage their processes.

Objectives: The primary aim of this research is to give a report on BPO maturity of Croatian companies and to stress the importance of key turning points.

Methods/Approach: The cluster analysis method was used to analyse the survey results.

Results: Croatian companies are currently evolving from the Defined level to the Linked level of BPO maturity.

Conclusions: The results of the cluster analysis have shown that companies in Croatia have to improve all key turning points, with a special emphasis on the strategic view.

Palabras clave

  • process management
  • business maturity
  • cluster analysis
  • Croatian companies
  • turning points

JEL Classification

  • M15
  • M21

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