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Volume 16 (2022): Edition 1 (August 2022)

Volume 15 (2021): Edition 1 (December 2021)

Volume 14 (2020): Edition 1 (July 2020)

Volume 13 (2019): Edition 1 (May 2019)

Volume 12 (2018): Edition 1 (May 2018)

Volume 11 (2017): Edition 1 (July 2017)

Conférence Détails
Format
Conférence
eISSN
2558-9652
Première publication
15 Dec 2017
Période de publication
1 fois par an
Langues
Anglais

Chercher

Volume 11 (2017): Edition 1 (July 2017)

Conférence Détails
Format
Conférence
eISSN
2558-9652
Première publication
15 Dec 2017
Période de publication
1 fois par an
Langues
Anglais

Chercher

119 Articles
Accès libre

The 11th International Conference on Business Excellence

Publié en ligne: 26 Aug 2017
Pages: i - iii

Résumé

Accès libre

Opinion on the new financial products issued by financial institutions - structured products

Publié en ligne: 26 Aug 2017
Pages: 1 - 8

Résumé

Abstract

Structured products are financial instruments issued by a financial institution where the amount claimed by the investor from the issuer depends on the variation of the price of the underlying instrument based on which the certificate is issued, namely: individual shares, share costs, stock indexes, currencies, commodities or combinations of these according to the prospectus. These products appeared with the development and diversification of financial services during the recent years, as well as due to the emergence of liquidity suppliers of international importance. The liquidity providers have developed on their own platforms a new range of derivatives which are different from the classical derivatives. These new derivatives, similar to contracts for difference (CFDs), have given to other institutions the possibility of transferring their risk more easily, regardless of the nature or type of the underlying asset. Thus, the financial institutions issuing structured financial products have found in liquidity providers the possibility of developing the CFDs required for their risk transfer operations. The issuers of structured products do not accept new risky positions when they issue certificates because they neutralize them through suitable risk transfer operations. The issuing financial institutions structure certificates from a variety of financial assets and/or commodities in order to adjust them to the various risk profiles of investors both in terms of expected return and in terms of the response to risk. Thus, products are issued that quickly respond to the trends of the financial or commodity markets. Investors in structured financial products benefit from the economic effect of a derivative but are exposed to financial risks that are more complex and more difficult to understand and at the same time depend on the reliability and stability of the contractual relationships between various financial institutions.

Mots clés

  • hybrid financial products
  • structured products
  • certificates
  • derivative
Accès libre

Oil and gas business in changing times

Publié en ligne: 26 Aug 2017
Pages: 9 - 24

Résumé

Abstract

The top 5 oil majors (British Petroleum, ExxonMobil, Total, Chevron and Royal Dutch Shell) are analyzed in terms of investments, earnings and financial & operational performance along the entire business value chain, for a period of 5 years. One of the key objectives is to understand how the Upstream and Downstream segments may play different roles in the definition of a winning corporate strategy, considering how they may reveal very different strengths and weaknesses during crude oil price crises. When the crude oil price goes down, the upstream sector is running big cost cutting measures, in order to reduce expenditures and keep acceptable gross margins per barrel of oil equivalent. On the other hand, the downstream segment receives cheaper raw material without a significant decrease in the final price of the oil products. Thus, how can oil companies leverage this flexibility in order to pass successfully through periods of crude oil price slides, and even take advantage of those? The paper aims to analyze the correlation between oil price and oil volume produced on one hand, and investments and earnings, split by business segments, on the other hand. The variation of investment and earnings is hence compared to crude oil price fluctuations for a clearer picture of the business profitability per segment during the peak and bottom periods of the oil market. Upstream and Downstream segments are also benchmarked against each other to understand the role that each of them is playing in the industry. The results are expected to provide some trend lines to understand how much the cost cutting measures are impacting the overall business, as well as to appreciate whether the reduction in the oil production, which in theory should be followed by a rise in prices, is indeed in the best interest of the oil majors. Going further into analysis, the paper is trying to define an optimum production interval, that will maximize profits along the entire value chain (upstream and downstream) of the oil business, defined by both the production volume of crude oil (replacement cost per barrel in accordance with volume), as well as the price per barrel of oil equivalent. The analysis takes into account official sources exclusively, i.e. oil companies’ websites, corporate crude oil production reports, annual financial reports and investors’ analyses.

Mots clés

  • oil
  • supermajors
  • production
  • investments
  • earnings
Accès libre

Priorities in Romania's energy strategies in the current European and Euroatlantic context

Publié en ligne: 26 Aug 2017
Pages: 25 - 35

Résumé

Abstract

In a world dominated by uncertainties (geopolitical, economic or political), ensuring energy security has become a top priority, both at state level, as well as for supranational alliances (EU, NATO). The paper aims to present, synthetically, the evolution of the adequacy efforts of the Energy Strategies of Romania in the context of contemporary challenges of global security, insisting on two priorities: the internal needs of energy security and the configuration of the alliances that Romania is part of. Romania’s energy security concerns were amplified in 2006-2007, but, although several projects were released in public debate, none has been adopted and assumed. Our investigation was based on the current information we have analyzed, compared and synthetized so that we anticipate strategic developments expected over the next twenty years.

Mots clés

  • energy strategy
  • energy security
  • energy policy
  • energy market
Accès libre

Effective business models for electric vehicles

Publié en ligne: 26 Aug 2017
Pages: 36 - 44

Résumé

Abstract

The proposed study aims to use asyncretic and synthetic approach of two elements that have an intrinsic efficiency value: business models and electric vehicles. Our approach seeks to circumscribe more widespread concerns globally - on the one hand, to oil shortages and climate change - and on the other hand, economic efficiency to business models customized to new types of mobility. New “electric” cars projects besiege the traditional position of the conventional car. In the current economy context the concept of efficiency of business models is quite different from what it meant in a traditional sense, particularly because of new technological fields. The arguments put forward by us will be both factual and emotional. Therefore, we rely on interviews and questionnaires designed to fit significantly to the point of the study. Research in the field of new propulsion systems for vehicles has been exploring various possibilities lately, such as: electricity, hydrogen, compressed air, biogas, etc. Theoretically or in principle, it is possible for tomorrow’s vehicles to be driven by the widest variety if resources. A primary goal of our study would be to theoretically reconsider some of the contemporary entrepreneurship coordinates and secondly to provide minimum guidance for decision-making of businesses that will operate in the field of electric mobility. To achieve this, we shall specifically analyze an electric mobility system but in parallel we will address business models that lend themselves effectively on aspects of this field. With a methodology based on questionnaires that had to overcome the conventional mechanism using some of the most unusual ingredients, we hope that the results of our research will successfully constitute a contribution to the goals and especially as a means of managerial orientation for entrepreneurs in the Romanian market.

Mots clés

  • business model
  • economic efficiency
  • electric mobility
  • environment
  • entrepreneurship
Accès libre

Correlations between energy economy and housing market prices in the EU-impacts on future sustainability

Publié en ligne: 26 Aug 2017
Pages: 45 - 54

Résumé

Abstract

The global economic system is facing multiple challenges in terms of social development, technology and innovation, as well as sustainability needs. As a result, the value of existing assets is changing globally depending on the scarcity, necessity and effects on the business field leading to increased prices of traditional sources of energy and increased competition in the economic field. Thus, the EU energy market has progressed in reducing its dependence on external energy sourcing, by increasing production of renewable energy, such as wind or solar, as well as by further integration of the electric grid. Based on the Pearson coefficient this article intends to research the correlations between the economic, energy and house prices in recent years and the future possible impacts depending on their evolution. For example, gas prices in the past decade increasing household costs in most countries due to the dependence on third parties for energy, lead to the need of increasing the share of renewable energy in total energy consumption, which have consequently decreased electricity prices since 2008. However, this development has still not solved the additional costs issue of households due to the new technologies implemented although wind and solar energy receive in general low margins. Such energy issues, as well as the increased housing prices after the financial crisis in 2008 have caused on their own an additional burden on the economy and households spending income in the next years following.

Mots clés

  • energy
  • correlations
  • house price index
  • renewable energy
  • economy
Accès libre

Burden of industrial waste and potential for recycling: technological, economic and environmental aspects

Publié en ligne: 26 Aug 2017
Pages: 55 - 63

Résumé

Abstract

Many benefits resulting from the development of the heavy industry are, unfortunately, accompanied by many issues resulting from the process of generating the industrial waste. This manuscript is presenting the environmental consequences, resulting from long period of time of heavy industry production and exploring the possibilities to recycle some of the industrial waste generated during the period of more than one century of ore excavation and copper extraction in the region of Eastern Serbia, in the vicinity of city of Bor. First part of the manuscript is presenting the scope of environmental issues, resulting from the heavy industry in this region and the amounts and the structure of the industrial waste, generated in this area, as well as the influence of generated waste to the environment of the region. Second part of the manuscript is dealing with the potential to recycle and reuse some of this waste, analyzing technological, economic and environmental aspects at the same time. In the final segment of the paper, some practical examples will be addressed based on the research work conducted at both experimental and industrial level. Results presented in the manuscript are mostly collected during long term research of the project team from Technical faculty in Bor, University of Belgrade, in the field of environmental management. This way, this manuscript is based on review of the research papers authored or co-authored by the author of this work, dealing with water, soil and air pollution, published in leading international journals. Also, the manuscript is presenting the literature review of other international issues dealing with the environmental management issues in the vicinity of large industrial complexes. Parts of the research results, presented in this manuscript are financially supported by the Ministry of Education, Science and Technological development of Republic of Serbia, under the project TR34023.

Mots clés

  • industrial waste
  • recycling
  • environmental management
Accès libre

Review on the dimensions of business-university alliances

Publié en ligne: 26 Aug 2017
Pages: 64 - 73

Résumé

Abstract

The present paper is concerned with identifying and synthesizing the directions of development of the partnerships between the academic environment and the business environment found in main research dedicated articles in the last five years in three relevant databases: Thomson Reuters Web of Knowledge, Science Direct and PROQUEST Central. The method we employed consists in tertiary data selection, processing and filtering by means of adequate software. The thorough literature review on partnerships between the academic and business environments revealed eight main directions of development: sponsoring activities, collaborative research (research partnerships and research services), curriculum development and delivery, academic entrepreneurship, human resource transfer (mobility of academics, mobility of students), informal interaction, commercialization of property right, and scientific publications. In order to qualify the directions of the partnerships we analysed their definitions, identified their goals and the economic and social impacts that they had.

Mots clés

  • business university transfer
  • academia-business partnership
  • knowledge transfer
  • university-business alliance
Accès libre

Environmental Key Performance Indicators of CSR activities in the energy industry

Publié en ligne: 26 Aug 2017
Pages: 74 - 80

Résumé

Abstract

The preoccupation towards environmental issues within companies has increased in the past years. On one hand, companies now aim at cleaner, environmental products or production lines. On the other hand, many companies have started to invest in different CSR projects, having as objective different environmental issues. In this article we focus on a set of aspects and indicators reported by energy companies, regarding their environmental performance. The need for a cleaner environment has determined policy makers and different organizations to adopt several guidelines referring to environmental activities of companies. Based on the CSR and sustainability reports of 92 top energy companies, we analyze the main environmental aspects and indicators which were revealed by these organizations in year 2015. Results of this qualitative analysis could contribute to the assessment of the extent to which environmental standards are currently taken into account by energy companies.

Mots clés

  • corporate social responsibility
  • environment
  • energy
  • sustainability
  • performance reporting
Accès libre

Natural gas transport system in the extended region of the Black Sea in the current geopolitical, geo-and geo-economics context

Publié en ligne: 26 Aug 2017
Pages: 81 - 92

Résumé

Abstract

Energy security as an integral part of economic security is seen by the involved actors from two perspectives: alternative sources and alternative energy routes, respectively as the interdependence between consumers and suppliers at all levels of the cycle of production, transport, distribution. The present article aims to present the existing realities of the transport routes of natural gas from the Extended Black Sea Region, and a brief analysis on the main projects outlined in this area in the context of contemporary challenges to global security. The methods used in elaboration of this article are documenting, analysis and synthesis.

Mots clés

  • energy security
  • economic security
  • Black Sea Region
  • geo-economic challenges
  • natural gas distribution system
  • transport routes
  • geostrategic
Accès libre

The common energy market of the European Union – utopia or reality?

Publié en ligne: 26 Aug 2017
Pages: 93 - 102

Résumé

Abstract

The European Commission has the initiative to foster the sector of renewable energy and to build an Energy Union, with a common energy market at the level of the European Union, but is this only an utopic vision or is this possible to achieve? The topic of clean energy is very new and of great interest for the European Union, which is shown by the fact that the European Commission recently adopted on the 30th November 2016 the package “Clean Energy for All Europeans”, which contains proposals for the modernization of the energy market at the level of the European Union. But which are the challenges such a project is confronted with? According to the literature, such challenges are related to the process of liberalization of electricity markets. Conflicts between national interest and international actors of the energy market might occur. Due to the oligopolistic structure of the energy market, there are several barriers to the market entry. In order to answer to the research questions, case studies regarding the liberalization of the energy market will be analyzed in a comparative manner, offering an international overview. Furthermore, the legal provisions on which the common energy policy of the European Union relies, will be analyzed, as well as their economic and social impact. The package “Clean Energy for All Europeans” comprises a proposal of the revised Renewable energy Directive, energy efficiency measures and issues related to the Energy Union Governance. It contains as well proposals for the electricity market design, which will be analyzed and the present paper outlines the contribution of this proposal in building a common energy market of the European Union. What role does competition play in implementing the common energy market of the European Union? Which role do competition authorities have in this context? These are interesting aspects to be analyzed in the present paper.

Mots clés

  • common energy market
  • energy union
  • clean energy
  • renewable energy directive
  • energy union governance
  • competition
  • liberalization
Accès libre

The energy performance contract - key towards energy efficiency in Europe?

Publié en ligne: 26 Aug 2017
Pages: 103 - 110

Résumé

Abstract

The paper focuses on the Energy Performance Contract (EPC) as a business model for energy efficiency. More precisely, it examines, using two case studies, enablers and disablers – from an economic, legal and institutional/managerial perspective – for advancing this arrangement across the EU. The EU has set a 20% energy savings target by 2020 (roughly equivalent to turning off 400 power stations), with an even more ambitious target of 27% by 2030. To reach these ambitious targets, the investments needed are approximately EUR 100 bn/year across the EU (according to the European Commission). Energy efficiency is not, as fervent proponents often claim, the low hanging fruit in terms of investment efforts. Like any other sub-sector, such as transmission and distribution, it demands innovative financing instruments to ensure adequate scale-up. In the paper, I use two comparative case studies to identify and classify the disablers and enablers of Energy Performance Contracting/Energy Services Companies (ESCOs) development: the European frontrunner, namely Germany, and a laggard, namely Romania. As research methodology, I use literature review, comparisons between similar government policy planning and evaluation documents, and stakeholder interviews. While academic literature on the topic (Seefeldt, 2003; Wilhelm, 2015) is developed for Germany, for Romania a critical reflection on EPC promotion policy is to be found only in industry documents (e.g.: ARPEE, 2013; Tractebel, 2015). The German success demonstrates that, contrary to the belief of Romanian stakeholders, it is not the lack of a standardized contract model that prevents EPC development, but lack of genuine commitment, drive and leadership of public officials in promoting this financing instrument. A solid communication between public authorities and private beneficiaries, and public administration capacity for impact assessment and evidence-based policy planning are two other significant enablers of EPCs, that could foster this financing instrument across the EU.

Mots clés

  • energy efficiency
  • energy services
  • energy performance contract
  • energy policy
  • Romania
  • Germany
Accès libre

Public health management: life expectancy and air pollution

Publié en ligne: 26 Aug 2017
Pages: 111 - 120

Résumé

Abstract

Part of the National Strategy of Sustainable Development from Romania, life expectancy and air pollution indicators have an important role in establishing long term public health management strategies. International scientific literature within the field underlines the strong connection between air pollution and life expectancy. This research study focuses on the impact of greenhouse gas emissions, particulate matter air pollutants, ozone air pollutants on the length of life at 65 years old and life expectancy at birth of the population from Romania. The methods used for research are correlation and linear regression. Our results will be a starting point for further development of public health policies in developing countries, which mostly focus on socio-economic aspects, neglecting the negative impact of air pollution.

Mots clés

  • Public health management
  • life expectancy
  • air pollution
  • socio-economic development
  • developing countries
Accès libre

Sustainability of financial professional services through marketing strategy- an empirical research

Publié en ligne: 26 Aug 2017
Pages: 121 - 130

Résumé

Abstract

All types of companies providing financial professional services use, formally or informally, marketing principles and tools for the development of their business, in order to straighten their sustainability. By the end of 2009, in Romania, the financial professional services market has had a relatively constant and predictable development, the mandatory nature of these services being their most important promoter. This article presents the results of a survey aimed to highlight the impact of different marketing principles, techniques and tools on the sustainability of financial professional services in accounting and audit nowadays. The research is based on a questionnaire circulated to professionals with the relevant expertise in the financial-accounting domain. The number of responses obtained was considered meaningful, allowing the research results to be extrapolated to the entire studied population. The respondents, whose anonymity was respected, had multiple choice answers for most of the questions and also having the option of opened answers. The main findings of our research are a starting point in providing solutions to improve the sustainability of financial professional services through a coherent, innovative and effective marketing strategy.

Mots clés

  • marketing of services
  • sustainability
  • sustainable business
  • professional services
  • accounting
Accès libre

Finding optimal route in the Romanian natural gas network

Publié en ligne: 26 Aug 2017
Pages: 131 - 137

Résumé

Abstract

The Romanian natural gas market is still in its infancy regarding the manners in which the demand and supply match. We are frequently talking about market liquidity or about its dynamic behavior, without considering the monthly losses of the national natural gas system operator that derive from the very lack of matching the supply and demand. The present article proposes a method of overlaying the two in a manner that is feasible for the Romanian natural gas market of 2017, a method that will encapsulate the usage of OBAs (operational balancing agreements) in correlation with a model of allocating the demand and supply as a restricted all-pairs shortest path problem. Based on authors experience, five main variables will be examined: point-of-entry (location and time), volume, time and location of delivery, as well as other sets of data that are particular to this sector. This article will tackle the area of usability of OBAs between suppliers and the degrees of sustainability that such a model offers for clients, therefore the resilience of the system will be analyzed through an optimized transfer of information and accessibility to assets. Due to the complex nature of demand in energy markets and the different requirements set by clients, in which an energy resource can be requested by different sets of users, we will conceive a model that can be applied for natural gas, but also for electric energy production and industrial clients. The scope of this endeavor is to create a tool that will minimize the monthly losses of the national natural gas system operator, as well as its distributors, by allocating, in a fair and unbiased way, the responsibility of fulfilling the requested demand in a certain time unit.

Mots clés

  • allocation of demand
  • sustainability in the natural gas market
  • adaptable OBA
  • redistribution of resources
  • matching of supply and demand
Accès libre

Energy poverty in Romania –drivers, effects and possible measures to reduce its effects and number of people affected

Publié en ligne: 26 Aug 2017
Pages: 138 - 145

Résumé

Abstract

Nowadays, over 10% of the population of the European Union is facing energy poverty. Energy poverty is defined as the situation where a consumer cannot access energy services in his household up to a socially and materially necessitated level. Although Romania is characterized, according to official European statistics, by a high number of persons at risk of poverty or social exclusion – 40.3% in 2014 – as compared to the other Member States – 24,4% for EU27 – recent studies of the European Commission show that only 12.3% of Romanians were suffering in 2014 of energy poverty. Still energy poverty is considered by several national and international institutions a major problem in Romania, just like in the other “new” EU Member States. So we ask ourselves what is energy poverty and what are the drivers of energy poverty in Romania. Energy poverty has recently drawn the attention of both academic research and policy makers, fact that has led to an mainly uncoordinated excess of national and international studies regarding this topic. This article aims to restrain the concept of energy poverty from the perspective of national and EU policies and regulations by reviewing the existing knowledge and critical approaches in this field. Also the study aims to analyse Romania’s development linked to the development of national and EU policies, laws and regulations in order identify the appropriate measures to reduce energy poverty, with regard to its main drivers and effects. Further, the paper explores possible policies that could be implemented to reduce the number of people affected by energy poverty, tailored on the specifics of the Romanian energy sector and Romania’s overall economy. Based on the findings, recommendations are drawn. The research relies on the current body of literature as well as on data available at national and at international level in this field.

Mots clés

  • energy poverty
  • energy efficiency
  • energy services
  • households
  • policy
  • Romania
Accès libre

Optimal technical and economic strategy for retrofitting residential buildings in Romania

Publié en ligne: 26 Aug 2017
Pages: 146 - 156

Résumé

Abstract

The European Legislation is very strict regarding the importance of reducing the energy consumption in buildings sector. The importance of achieving nearly zero energy consumption levels for both new and existing buildings is also highlighted in each Members’ national legislation. Moreover, the high percentage of existing buildings across European Union, indicates that they need to be adequately approached in order to achieve the ambitious energy efficiency goals. This implies creating the optimal technical and financial retrofit strategies regarding minimizing the energy consumption without lowering the interior comfort levels. In Romania, there is no unitary strategy aiming to maximize the energy efficiency in buildings which also takes into consideration the financial part of the process. Moreover, there are no known national guidelines and strategies for buildings retrofit which takes into consideration a wide range of equipment. The Romanian Energy Efficiency Strategy presents few possibilities resulted from integrating renewable energy sources within typical Romanian buildings, while the Buildings Performance Institute Europe conducted a research regarding the potential of nearly Zero Energy Buildings implementation across Romanian territory. Both studies refer only to typical buildings and do not present a large perspective for retrofitting action, while the financial study is not properly presented. Thus, this paper develops a comprehensive financial study which could be used as guideline by stakeholders, in order to find the best technical solution for decreasing the final energy consumption in Romanian residential buildings. Using the RETScreen software and its economical features, there were developed several energy efficiency solutions, and by analyzing the financial benefits implied, the best solution was chosen. By adopting the solutions presented within this feasibility study, the energy consumption of buildings should be significantly reduced.

Mots clés

  • zero energy buildings
  • retrofitting
  • feasibility study
  • energy efficiency
  • RETScreen
Accès libre

International Oil Companies Sustainability after Oil Price decline

Publié en ligne: 26 Aug 2017
Pages: 157 - 167

Résumé

Abstract

International Oil Companies (IOC’s) had been playing a major role in oil industry at the beginning of 20th century. They had many volatility during last century and faced with many obstacles which forced them to change their business models and improve their outcome to satisfy their shareholders. One of the most important challenges was oil nationalization in oil producer countries which were happened by establishment of NOCs. Later green energy issue which came from CO2 emission problem happened and recently, oil and gas price diminish challenges, involve all IOCs with the most important challenge in last century after all. Among all those events, one of the most important key values which have been observed by IPIECA, API and IOGP associations every year is Sustainability. The objectives of the research are study all issues and indicators of sustainability in IOCs. Each indicator has faced with different strategy via IOCs in different market situation. The importance of this key value cause that it is observed by some important association like IPIECA, API and IOGP each year. As the scarcity of related references for business model in oil and gas industry, literature review of some resources and annual sustainability report followed by a questionnaire as a survey are also selected methods for recent major challenges to achieve required result.

Mots clés

  • oil price
  • business model
  • international oil companies
  • key value
  • key activity
  • sustainability
Accès libre

Economical aspects of the CCS technology integration in the conventional power plant

Publié en ligne: 26 Aug 2017
Pages: 168 - 180

Résumé

Abstract

One of the way to reduce the greenhouses gases emissions generated by the fossil fuels combustion consists in the Carbon Capture, Transport and Storage (CCS) technologies utilization. The integration of CCS technologies in the coal fired power plants increases the cost of the energy generation. The CCS technology could be a feasible solution in the case of a high value of a CO2 certificate but for the present value an optimization of the CCS technology integration in the power plants is expected. However, for reducing the cost of the energy generated in the case of CCS integration in the power plants, a parametrical study optimization of the CO2 capture process is required. In this study, the chemical absorption process was used and the monoethanolamine with 30 wt. %. The objective of this paper is to analyze the effects of the package type used in the absorption column on the size of the equipment used and, on the energy cost of the power plant with CO2 capture process consequently. The packages types analyzed in this paper are metal Pall rings with different sizes and the rings are made of different metals: aluminum, nickel, cooper, and brass. In the case of metal Pall rings, the utilization of different material has an impact on the absorption column weight. Also, Pall rings made of plastics (polypropylene and polyethylene) were analyzed. The comparative assessment was achieved for a coal fired power plant with an installed power of 100 MW and considering the CO2 capture process efficiency of 90 %.

Mots clés

  • coal
  • power plant
  • CCS
  • chemical absorption
  • monoethanolamine
Accès libre

Aspects of using biomass as energy source for power generation

Publié en ligne: 26 Aug 2017
Pages: 181 - 190

Résumé

Abstract

Biomass represents an important source of renewable energy in Romania with about 64% of the whole available green energy. Being a priority for the energy sector worldwide, in our country the development stage is poor compared to solar and wind energy. Biomass power plants offer great horizontal economy development, local and regional economic growth with benefic effects on life standard. The paper presents an analysis on biomass to power conversion solutions compared to fossil fuels using two main processes: combustion and gasification. Beside the heating value, which can be considerably higher for fossil fuels compared to biomass, a big difference between fossil fuels and biomass can be observed in the sulphur content. While the biomass sulphur content is between 0 and approximately 1%, the sulphur content of coal can reach 4%. Using coal in power plants requires important investments in installations of flue gas desulfurization. If limestone is used to reduce SO2 emissions, then additional carbon dioxide moles will be released during the production of CaO from CaCO3. Therefore, fossil fuels not only release a high amount of carbon dioxide through burning, but also through the caption of sulphur dioxide, while biomass is considered CO2 neutral. Biomass is in most of the cases represented by residues, so it is a free fuel compared to fossil fuels. The same power plant can be used even if biomass or fossil fuels is used as a feedstock with small differences. The biomass plant could need a drying system due to high moisture content of the biomass, while the coal plant will need a desulfurization installation of flue gas and additional money will be spent with fuel purchasing.

Mots clés

  • combustion
  • energy
  • fossil fuels
  • biomass
  • sulfur content
Accès libre

Energy use and carbon footprint for potable water and wastewater treatment

Publié en ligne: 26 Aug 2017
Pages: 191 - 198

Résumé

Abstract

Wastewater treatment plants (WWTPs) and drinking water treatment plants (DWTPs) are sources of emissions of greenhouse gases (GHGs), such as carbon dioxide (CO2), nitrous oxide (N2O) and methane (CH4). Carbon dioxide emissions have a big contribution to climate change. In general they come from burning fossil fuels to generate the electricity necessary for operating the treatment processes. The demand of energy depends on the treatment processes, but also on the quality of water source or wastewater influent. Water companies have to continuously supply safe drinking water to population and to treat and discharge wastewater according to regulations at a cost as low as possible. In Romania reporting of GHGs is not mandatory for water companies. Evaluation of GHG emissions from water industry have become a subject of great interest because of concern regarding climate change. Research and regulation have been conducted by different authors based on a regional basis. This paper proposes to estimate and compare the carbon emissions resulting from power consumption of Constanta South WWTP and PALAS Constanta DWTP. The energy supplier is different for these plants. In order to calculate the carbon emissions the amount of specific CO2 emissions is determined. The contribution of each primary source to produce the amount of electricity which is consumed is taken into account. WWTP has high power consumption in biological processes, because there are the aeration tanks, the sewage pumping station and the equipment for sludge. DWTP has high power consumption because of the pumping equipment used for raw water abstraction from deep wells and those for drinking water distribution to consumers. In order to identify, sort and display possible causes of the high power consumption of WWTP, Ishikawa chart is used. Through its configuration, the diagram allows highlighting and prioritizing the causes which generate this effect. Some management options are presented in order to reduce power consumption in WWTP.

Mots clés

  • carbon footprint
  • energy consumption
  • wastewater treatment plant
  • drinking water treatment plant
  • management
Accès libre

Energy efficiency solutions for driers used in the glass manufacturing and processing industry

Publié en ligne: 26 Aug 2017
Pages: 199 - 208

Résumé

Abstract

Energy conservation is relevant to increasing efficiency in energy projects, by saving energy, by its’ rational use or by switching to other forms of energy. The goal is to secure energy supply on short and long term, while increasing efficiency. These are enforced by evaluating the companies’ energy status, by monitoring and adjusting energy consumption and organising a coherent energy management. The manufacturing process is described, starting from the state and properties of the raw material and ending with the glass drying technological processes involved. Raw materials are selected considering technological and economic criteria. Manufacturing is treated as a two-stage process, consisting of the logistic, preparation aspect of unloading, transporting, storing materials and the manufacturing process itself, by which the glass is sifted, shredded, deferrized and dried. The interest of analyzing the latter is justified by the fact that it has a big impact on the final energy consumption values, hence, in order to improve the general performance, the driers’ energy losses are to be reduced. Technological, energy and management solutions are stated to meet this problem. In the present paper, the emphasis is on the energy perspective of enhancing the overall efficiency. The case study stresses the effects of heat recovery over the efficiency of a glass drier. Audits are conducted, both before and after its’ implementation, to punctually observe the balance between the entering and exiting heat in the drying process. The reduction in fuel consumption and the increase in thermal performance and fuel usage performances reveal the importance of using all available exiting heat from processes. Technical faults, either in exploitation or in management, lead to additional expenses. Improving them is in congruence with the energy conservation concept and is in accordance with the Energy Efficiency Improvement Program for industrial facilities.

Mots clés

  • energy efficiency
  • heat recovery
  • glass industry
  • drier
  • energy audit
Accès libre

Implementation of energy efficiency programs using cogeneration based on internal combustion engines

Publié en ligne: 26 Aug 2017
Pages: 209 - 217

Résumé

Abstract

The paper presents an analysis of implementation of CHP plants based on internal combustion engines at different industrial companies. The authors have presented general aspects regarding utilization of internal combustion engines for cogeneration. There have been presented different possibilities of classification of internal combustion engines. Further on authors have presented different possibilities for increasing the efficiency of internal combustion engines, including: supercharging compression ratio increase, advanced heat recuperation for combined production of heat and power. There have also been presented different measures for increasing energy efficiency on site, including measures for CHP plant and internal combustion engines and measures for other auxiliary equipment and measures for technological equipment. In the second part of the paper authors have presented three case studies of utilization of internal combustion engines at a cogeneration plant for different industrial companies: cogeneration plant at a company from pharmaceutical sector, cogeneration plant at a beer production company and cogeneration plant at a company of electrical insulation materials. The results of the analysis led to following conclusions: implementation of cogeneration solutions based on internal combustion engines lead to significant financial savings, implementation of cogeneration solutions based on internal combustion engines can also lead to reducing environmental impact, it ensures higher global energy production efficiency and higher power efficiency compared to National Power System and to separate power and heat generation, it can lead to increased safety in energy supply of the company, it can also increase the reliability of power supply in cases of National Power Grid faults.

Mots clés

  • CHP
  • energy efficiency
  • internal combustion engine
  • energy efficiency program
Accès libre

Demand response power system optimization in presence of renewable energy sources

Publié en ligne: 26 Aug 2017
Pages: 218 - 226

Résumé

Abstract

This paper optimizes the price-based demand response of a large customer in a power system with stochastic production and classical fuel-supplied power plants. The implemented method of optimization, under uncertainty, is helpful to model both the utility functions for the consumers and their technical limitations. The consumers exposed to price-based demand can reduce their cost for electricity procurement by modifying their behavior, possibly shifting their consumption during the day to periods with low electricity prices. The demand is considered elastic to electricity price if the consumer is willing and capable to buy various amounts of energy at different price levels, the demand function being represented as purchasing bidding blocks. The demand response is seen also by the scientific literature as a possible source of the needed flexibility of modern power systems, while the flexibility of conventional generation technologies is restricted by technical constraints, such as ramp rates. This paper shows how wind power generation affects short term operation of the electricity system. Fluctuations in the amount of wind power fed into the grid require, without storage capacities, compensating changes in the output of flexible generators or in the consumers’ behavior. In the presented case study, we show the minimization of the overall costs in presence of stochastic wind power production. For highlighting the variability degree of production from renewable sources, four scenarios of production were formulated, with different probabilities of occurrence. The contribution brought by the paper is represented by the optimization model for demand-response of a large customer in a power system with fossil fueled generators and intermittent renewable energy sources. The consumer can reduce the power system costs by modifying his demand. The demand function is represented as purchasing bidding blocks for the possible price forecasted realizations. The consumer benefit function is modelled as a piecewise linear function.

Mots clés

  • electricity market
  • demand response
  • renewable energy
Accès libre

Measuring the social market economy. A composite index approach for EU countries

Publié en ligne: 26 Aug 2017
Pages: 227 - 240

Résumé

Abstract

The main objective of the paper was to construct a synthetic measure that can be used as benchmark for measuring the progress toward convergence to the social market economy as specification of the Lisbon Treaty. This kind of approach will enable us to identify the main determinants of the social market economy among EU member states using a principal component analysis technique (PCA) analyzing comparatively different group of countries. The analysis was conducted at the level of the 28 EU countries for the year 2013 using 15 indicators from four categories: efficient market allocation, efficient property rights, economic and ecological sustainability and social inclusion. The empirical results revealed that the key determinants in explaining the social market economy at European level are freedom of contract, open markets, financial stability and effective environmental protection and highlighted Sweden, Finland, Denmark, Estonia and Germany as the main poles of social market economy at European level while at the opposite side Romania, Hungary and Bulgaria registered the smallest level of social market economy. As main contribution brought by the paper there can be mentioned the attempt of measuring the level of social market economy at European level using an aggregate composite index for the level of 2013 highlighting the main poles of social economy.

Mots clés

  • social market economy
  • principal component analysis
  • composite index
  • European Union
Accès libre

Calculation of the differences of attitude and behavior of two generations with the Euclidian-metric

Publié en ligne: 26 Aug 2017
Pages: 241 - 247

Résumé

Abstract

This paper presents the results of a research about the differences of behavior between two generations. Pairs of consumers consisting of a young consumer and one of his/her parents were questioned about different aspects of life. By applying the Euclidian Metric, the similarities and differences were determined for the examined issues. The results of the research show that for traditional product groups like medical services, education system, the consumers of the two generations have a similar behavior. For product groups related to the online environment such as social networks, mobile/smart phones, the consumers of the two generations show higher differences. Higher differences can be also observed for social groups, as the young generation has an inclination for doing spare time activities with their friends, such as going out, going on holiday. The results of the research have an impact on the way in which consumer’s reference groups are going to be used in marketing communication campaigns.

Mots clés

  • consumer behavior
  • reference groups
  • generation
  • perception
Accès libre

Strategic thinking in turbulent times

Publié en ligne: 26 Aug 2017
Pages: 248 - 254

Résumé

Abstract

The purpose of this paper is to present a structural analysis of strategic thinking spectrum in turbulent times. Business excellence cannot be achieved without a well-defined strategic thinking spectrum able to elaborate and implement strategies in a fast changeable and unpredictable business environment. Strategic thinking means to think for a desirable future which can be ahead 4-5 years of the present time and to make decisions to the best of our knowledge for that unknown business environment. Thus, the research question is: How can we conceive the spectrum of strategic thinking such that we shall be able to deal with a complex and unknown future in achieving a competitive advantage? The methodology used to answer this question is based on metaphorical thinking, and multidimensional analysis. I shall consider four main dimensions: time, complexity, uncertainty, and novelty. On each of these dimensions I shall analyze the known thinking models and their attributes with respect to request formulated in the research question. Then, I shall choose those thinking models that correspond to the future characteristics and integrate them in a continuous spectrum. On each dimension I shall consider three basic thinking models. On the time dimension they are: inertial, dynamic and entropic thinking. On the complexity dimension they are: linear, nonlinear and systemic thinking. On the uncertainty dimension they are: deterministic, probabilistic and chaotic thinking. Finally, on the novelty dimension we have: template, intelligent and creative thinking. Considering all requirements for the unknown future, we conclude that strategic thinking spectrum should contain: entropic, nonlinear and systemic, probabilistic and chaotic, intelligent and creative thinking models. Such a spectrum increases the capacity of our understanding and as a consequence it enhances the capability of making adequate decisions in conditions of complexity and uncertainty.

Mots clés

  • strategy
  • strategic thinking
  • competitive advantage
  • complexity
  • uncertainty
  • decision making
Accès libre

Strategies for academic leadership towards increasing productivity in higher education institutions; business education case

Publié en ligne: 26 Aug 2017
Pages: 255 - 263

Résumé

Abstract

Higher education institutions face a lot of challenges in the contemporary context. Labour market is s strict evaluator of the graduates’ competences and skills and thus, of the study programmes. An attractive university is a university with a large demand for studies, with many partners and projects, with a high visibility at national and international level, with a considerable research production. At present, the lack of resources characterizes the difficult situation for decision making process which is a real challenge for the academic leadership. On one hand, the competiton requires the need of continuous development and of differentiation strategy while on the other hand, insufficient financial, human, material, informational resources, including time as a specific restriction generate huge opportunities and threats for institutions. Possibilities of being efficient are to be explored. The aim of this paper is to explore possible strategies to increase productivity in higher education institutions. Main objectives of the study are the following: a). to define productivity in higher education institutions, on the basis of the academics’ perceptions, as well as of students’ perceptions; b). to provide a diagnosis of the current state of the prductivity in higher education institutions; c). to contribute to new clarifications on leadership strategies for increasing productivity in higher education institutions. Based on the literature review, the paper reveal proper answers to questions, such as: what is productivity, how is it measured, what is its impact, which are the increasing possibilities in business context. The study methodology is also based on a questionnaire dedicated to the two groups of respondents – academics and students. Their perceptions are then compared in order to reveal the common view. Main output of the research include: a). A new conceptual clarification for the productivity in higher education institutions; b). A proposal of leadership strategies from business to academic environment.

Mots clés

  • leadership
  • productivity
  • higher education
  • strategies
  • quality assurance
Accès libre

Factors influencing performance within startup assistance organizations

Publié en ligne: 26 Aug 2017
Pages: 264 - 275

Résumé

Abstract

Startup assistance organizations, and especially business accelerators have gained a lot of traction in the last years, captioning not only the attention of the public, but most importantly that of investors and other stakeholders. It has become a challenge for many all around the world to develop such programs, but many have failed or did not have their expected results, meaning medium to long-term sustainable and profitable alumni start-ups. As high amounts of resources, both human and financial, are being invested in the design and development of such programs, it is important to understand what sets apart the successful business acceleration programs from the ones that fail. The current paper is reviewing the up-to-date theoretical literature and studies on the matter at hand, in order to identify the most relevant factors influencing startup assistance organizations’ performance. The objective behind identifying these factors is to get a better understanding of best practices of such successful programs and set the basis for future research regarding the development of a set of metrics for more accurately measuring their performance.

Mots clés

  • startup assistance organization
  • business incubator
  • business accelerator
  • performance
Accès libre

The role of classical and modern teaching methods in business education

Publié en ligne: 26 Aug 2017
Pages: 276 - 283

Résumé

Abstract

Nowadays the training-educational process is a dynamic and complex process which uses both classical and modern teaching methods in order to obtain performance in education. Even though traditional teaching methods have a formal character interaction between teacher and students, this is face-to-face and therefore students can give an immediate feedback. From this point of view classical teaching methods are important from time to time. In Romania, in the European context the role of effective learning strategies represents the key point for the education process. The role of teachers in developing creativity to those students who want to learn in an interactive way is very important because they should imply that students directly in the training -educational process. In this context the educational process must be student centered because only in this way their critical thinking and creativity is developed. We can say that when non-formal and informal learning is combined with formal learning the scope of pedagogy is accomplish. In contemporary context education is regarded as an innovative concept which is used to produce performance at the individual level and also, at institutional level, education provides support in order to build strategies according to the challenges from the labour market. The paper is based on a qualitative research, conducted on a sample of 100 people aged between 19 and 23 years old (students at a Business School). The key question raised at this point is: What is the role of classical and modern teaching methods in training-educational process? The objectives of this study are the following: 1). highlighting the context of higher education in Romania; 2). presenting the role of university strategy in contemporary context; 3). highlighting the importance of using classical/modern teaching methods in business education; 4). presenting the role of innovation and creativity in business education; 5). presenting the analysis of qualitative research regarding the role of classical and modern teaching methods in education. Learning skills are developed both through modern teaching and learning strategies based on creativity and interactive learning methods.

Mots clés

  • training-educational process
  • higher education
  • university strategies
  • teaching methods
  • performance
Accès libre

The rate of high schools’ graduating students to universities

Publié en ligne: 26 Aug 2017
Pages: 284 - 291

Résumé

Abstract

The purpose of the present research is to analyze and explore the opinions of Fălticeni town high school graduates, on the choice of universities that they want to continue their studies, then choosing faculty (profile, specialization) where they will be trained for their future profession. Then first thing taken into account was the ratio of students admitted in the first year of higher education studies in a given academic year, expressed as a ratio of the number of students enrolled in the final year of upper secondary education in the previous school year. For the indicator highlighted and previously enunciated, we conducted a statistical survey based on the data collected from three high schools in Fălticeni town, from Suceava County, schools with different specializations and different profiles of study. In recent years, countries have increased the diversity of education programs. This diversification has been driven by an increasing demand for upper secondary and evolving curriculum of general knowledge taught in general programs and practical skills reserved for professional studies to complete programs that include learning, but also to lead to more flexible ways of further education or employment.

Mots clés

  • rate of transition
  • levels of education
  • higher education
  • education program
  • education system in European Union
Accès libre

The impact of the logistics management in customer satisfaction

Publié en ligne: 26 Aug 2017
Pages: 292 - 301

Résumé

Abstract

Logistics management is one of nowadays tools to face economic challenges; it’s a mix of business and core activities of the organization. The supply and distribution activities integrated together form what’s known as logistics activities. The logistics activities within a business organization attempt to satisfy customers through achieving the time and location related market challenges and also through the cost of the service provided as well as the quality, taking into consideration customers needs and purchase power. Customer satisfaction is important because it provides marketers and business owners with a metric that they can use to manage and improve their businesses. Customer satisfaction is also a way to determinate the continuity of the business or of a product life by measuring the loyalty of the customers. If the customers are happy and satisfied, it will ensure the continuity of sales which means the continuity of the business. In the past customer satisfaction was more focused on requirements such as quality and reliability reducing costs of poor quality. In mid 50’s the production costs were continuously increasing, The way to maintain the company’s position within a changing market and increase profit starts by focusing on the service provided to the customer and on decreasing the cost, logistics activities became the backbone of these organizations that target the customer satisfaction while achieving competitive advantage. This study aims to show the impact of the logistics management on customer satisfaction in small and mid-sized Algerian industrial companies, by interviewing the companies managers and everybody in charge of the logistic process, the interview questions will be based on some literature review issues.

Mots clés

  • logistics activities
  • customer satisfaction
  • small and mid-sized companies
  • logistics management
  • customer service
Accès libre

Curricular improvements for entrepreneurial education

Publié en ligne: 26 Aug 2017
Pages: 302 - 311

Résumé

Abstract

Our paper aims at investigating the most adequate methods for developing effective educational tools in entrepreneurial education. Entrepreneurship education should take place during the entire life of an entrepreneur, but the basic knowledge and skills related to this field are acquired starting from the elementary school, and improved during all the educational levels. Through entrepreneurship education, policymakers aim to prepare young people for succeeding on the entrepreneurial path. However, there are few scientific papers that aimed at discussing the available educational tools in Romania which play a role in forming entrepreneurs. Starting from the identified educational needs of young Romanian people under 35, including entrepreneurs and students, which were surveyed based on a questionnaire, we advance several key improvement areas for Romanian business curricula, and suggest critical paths to obtain desired results. The recommendations that we deliver through this paper are based on respondents’ opinions regarding their preference for certain aspects related to educational tools used in entrepreneurial education: learning materials used in universities in order to create an entrepreneurial mindset, the use of learning materials outside of the university curricula, and entrepreneurial skills that should be developed during school. A comparative perspective, examining curricular specificities in most entrepreneurial cultures of Europe, based on information obtained from Entrepreneurship Eurobarometer and Doing Business Indicators, is also included in our study. The main limitations, which arise from the subjective perspective of young entrepreneurs, as well as from the reduced sample volume, are thus corrected. The conclusions of our analysis provide a valuable starting point for educational policies promoting entrepreneurial skills enhancement in the Romanian business students’ population.

Mots clés

  • entrepreneurship
  • entrepreneurial education
  • university learning tools
Accès libre

A survey-based analysis of life-long learning patterns of young entrepreneurs

Publié en ligne: 26 Aug 2017
Pages: 312 - 321

Résumé

Abstract

Our approach, in this paper, is focused on life-long learning tools that are available for young Romanian entrepreneurs, in their early career stages. Life-long learning in the case of entrepreneurs is not a topic widely covered in scientific literature up to this moment. Most of the scientific papers related to entrepreneurship focus on the idea of innovation and creativity that characterizes entrepreneurship. On the other side, the scientific literature that considers life-long learning, discusses the case of employees or managers, who are required to improve their knowledge and skills in order to perform at the work place. For the current paper, it was aimed to survey the lifelong learning tools available to young Romanian people and to evaluate their efficiency with the help of interviews with young entrepreneurs on their educational path. Otherwise stated, we intended to provide more insights on the learning methods and practices of entrepreneurs, and to establish whether the current formal education represents a strong basis for entrepreneurs’ life-long learning. The research that we performed revealed that young Romanian entrepreneurs practice indeed a lifelong learning based not as much on formal education, as on learning by practicing and networking. Starting from the observations obtained, it was conceived, based on current European best practices and projective discussions with the same young entrepreneurs, a set of life-long learning initiatives that may be promoted in the entrepreneurial community, and we identify the actual steps to be taken by life-long learning education providers in order to implement these initiatives. This paper’s conclusions serve as both a state of the art analysis, in a field which is vital for entrepreneurs surviving in competitive environments, and as a prospective guide for improving the present market of life-long learning programs.

Mots clés

  • entrepreneurship
  • life-long learning
  • emotional intelligence
Accès libre

The culture of excellence. Challenges and opportunities during changing times

Publié en ligne: 26 Aug 2017
Pages: 322 - 331

Résumé

Abstract

The main goal of the paper is to highlight the importance of supporting the promotion of the culture of excellence among people involved in a way or another in contemporary business. In order to support business excellence, the culture of excellence have to empower and engage all the people within an organization to think out of the box in a modern vision suitable to the challenging and changing times we are facing now. All over the world, in the most competitive countries, regions and sectors of activities there is a paradigmatic change of business strategies and policies oriented more and more towards performance and excellence. The paper highlights the importance of promoting the culture of excellence in the contemporary changing business environment. It suggests an important shift from a perspective that focuses on the so called ‘hero of excellence’ towards promoting the culture of excellence among the whole organization. Within modern business, in order to face challenges of the changing times and to explore their opportunities all the people from an organization are considered to manifest as ‘heroes of excellence’ by co-creating and co-working together within creative and innovative teams. They have to contribute and to participate actively to assure, preserve and develop the competitiveness and well being of the whole organization. The paper supports a holistic, cross disciplinary and integrated vision. It is structured into three parts including: a brief literature review based on an overview of the current state of the literature dedicated to the topic of culture of excellence (part 1); presentation of the main steps of the process of building a sustainable high performance organization (part 2); a brief presentation of examples of best practice and case studied identified internationally (part 3); conclusions that highlight the importance of culture of excellence in changing and challenging times.

Mots clés

  • culture of excellence
  • business excellence
  • business champions
  • a sustainable high performance organization
  • long-run vision & long-run competitive advantage
Accès libre

Development, competence and performance – who does what in higher education?

Publié en ligne: 26 Aug 2017
Pages: 332 - 338

Résumé

Abstract

Higher education is in turmoil in the whole world. Universities as organizations are being challenged by their various stakeholders. This is true of any and most organizations. Nevertheless in some places universities continue to be looked upon as providers of the correct answers to those challenges as they have rallied within their ranks self-proclaimed experts in leadership, management and organizational performance. The literature existing documents the issues universities as organizations face in today’s complex world and attempts at pointing at various ways they can take to address those challenges. Specialists and sometimes the general public itself show an understanding of the fact that higher education evolves through its institutions, practices and processes at some paces in global contexts and at different ones in local contexts in spite of a relatively unifying public discourse used especially by decision and policy makers and some parts of the media. In other words, similar concepts may refer to very dissimilar realities making the evaluation of performance difficult and questionable. This paper looks at the way universities address the need for professional development of their leaders and/or managers at the various university levels. The focus will be on Romanian economic and business higher education institutions. The research presented here evolved from a doctoral study one the authors did in the field of leadership in Romanian higher education and from both authors’ experience in the university system in Romania and in other higher education systems they are familiar with. The authors claim and document that in Romania little is still done in terms of formalized, transparent and open access training for university leaders and administrators. The same is true for those who are interested in preparing for a career in academic management or leadership and do not have a clear road map to follow. In the complex higher education system of today professional competence is an important component that cannot be left entirely to personal development needs. Formalized and open access training in management, leadership, educational management, research management, organizational culture, strategic planning and time management skills is critical for one’s professional competence. In Romania both organizations and individuals need to understand the need to offer opportunities for professional training and the need to invest in personal development. This is how academics working or contemplating to work in administration would be empowered to plan for their organization’s performance in an open, transparent, continually and unpredictably changing world.

Mots clés

  • higher education
  • academic leadership
  • academic management
  • personal development
  • professional competence
  • university performance
Accès libre

University-business cooperation: adapting the curriculum and educational package to labor market requirements

Publié en ligne: 26 Aug 2017
Pages: 339 - 349

Résumé

Abstract

The paper explores the current state of the university-business cooperation at EU, and national level, and it seems that a more structured university-business cooperation might enable universities to adapt their curricula to meet labor market requirements better. A project was designed to address this issue and received funding on a national merit-based competition. During project implementation, exploratory surveys have conducted, findings-based solutions have adopted in practice with promising results. The paper presents the conceptual framework of the Adapt2jobs project, the main activities, and results and how these converged with the current trend in university-business cooperation. The study limits emerged from the scale of the project implementation, and from the response rate registered at the business cohort. Nevertheless, the paper has a clear, practical value which demonstrates that the university-business cooperation can be efficient in curriculum adaptation to the labor market requirements. The study has a real potential for duplication in a wider context, and a comparative analysis is needed to identify good practices in the field, nationally and internationally.

Mots clés

  • university-business cooperation
  • curriculum
  • skills
  • competencies
  • labor market requirements
Accès libre

Successful strategies to be learnt from world-class universities

Publié en ligne: 26 Aug 2017
Pages: 350 - 358

Résumé

Abstract

Throughout the present paper we want to argue the idea that higher education is strongly linked with research, innovation, and competitive advantage and thus plays a crucial role not only for the individual and societal development but also in the process of delivering the National and European Strategy, to drive forward growth. Universities are the main actors responsible to provide the highly skilled human capital that Europe needs in order to create jobs, successful businesses, and prosperity. The ambitious aim to become a world-class university has its roots not just in rational (financial) considerations, but also in the symbolic role of such universities. The rankings made the competition between the states very visible and thus, are most commonly recognized as an indicator of success due to excellence-driven policies. Within this work we bring arguments and examples about which are the most efficient strategies of world-class universities. The first section of the paper we argue the roles of universities within nowadays economic and social world. The second section of the paper highlights the conceptual issue of world-class universities, the motivation and the determinants of such a goal. Within sections three of the paper we benchmark the key factors of two main international ranking (the THES and SJTU) and we analyse the successful strategies of famous world-class universities. According to the research conclusions and to our considerations we suggest that a valid option would be for universities to follow the international trend towards becoming a world-class university. Also an opportunity would be to develop themselves into learning organizations.

Mots clés

  • higher education system
  • strategies
  • world-class universities
  • knowledge based strategies
  • learning organization
Accès libre

Gamification as an instrument for organizational behaviour change during the meeting: case study «ROBATIEMPOS»

Publié en ligne: 26 Aug 2017
Pages: 359 - 367

Résumé

Abstract

During the last years, gamification has been a burning issue and a subject of scientific discussions. Gamification is an innovative solution to foster motivation. It relates to the use of game elements in non-game contexts. By applying game mechanics to training and other business critical processes, organizations can improve employee engagement, boost productivity and lift operational performance. Over the last few decades, it has been noticed the significant enhancement of time spent attending meetings. Meetings are essential for the organizations, they improve the effectiveness of a company team working and are necessary for human relations. Nevertheless, in many cases meetings are considered as a waste of time. There are very few scientific papers that regarding the use of gamification for business meeting changes. The study seeks to explore the behavioural change of participants towards business meetings after introducing a business game, in order to come up with an interesting solution that might be useful for other researchers and practitioners in understanding the use of gamification in similar contexts. With regard to this aim, a single-case holistic design methodology is used and qualitative approach using semi-structured interviews with gamification experts and project managers is applied. This paper contributes both to the scientific literature and to managerial implication.

Mots clés

  • gamification
  • cultural change
  • business meetings
  • meeting efficiency
Accès libre

Motivating hospital personnel for excellence in a rough environment

Publié en ligne: 26 Aug 2017
Pages: 368 - 380

Résumé

Abstract

Work motivation and satisfaction are core performance factors, of a broad complexity in healthcare. In spite of all economic, political, administrative, regulatory or bureaucratic adversities, there are public Romanian hospitals striving to perform at European level. Medical personnel dissatisfaction, and shortage due to migration are significant challenges for managers. Methodology: the main research question is whether motivation is a key factor in a public Romanian hospital oriented to clinical excellence, reflected by retention of medical staff and their professional satisfaction, and also perceived by their patients. Purpose: to analyze importance and level of job satisfaction of hospital personnel in relation with other motivation components given the rough environment of Romanian public healthcare system, and its reflection on patient satisfaction. The paper is based on two studies: professional satisfaction survey conducted among all 350 employees of the Clinical Hospital “St. Maria” Bucharest accredited for liver transplantation and achieving great clinical performance, based on a 21-questions semi-structured questionnaire. Second, a patient satisfaction survey conducted on a sample of 75 patients randomly selected from all 5 hospital departments, out of an average of approximately 230 patients per week, by applying on discharge day a questionnaire of 30 questions. Results: Great majority of our personnel appreciated as appropriate: their working conditions, communication and relationship with hierarchic boss and with hospital management team. 84.6% of medical and 90.5% of nonmedical personnel declared to be professionally very satisfied and satisfied in this hospital. Patient satisfaction analysis indicated that almost all respondents were informed by medical personnel about their conditions and rights, receiving explanations about treatment; 90% considered care received at a very good quality, except for food; 90.2% of respondents rated as very good the personnel kindness, availability, communication, information and care; 67,2% of patients stated as very satisfied and 23% satisfied with the medical care received, and all respondents would choose this hospital again if needed and even would recommend it to others. Conclusion: Anticipating their needs and motivating hospital personnel to achieve high performance is of great importance for managers and employees, by focusing on people and using appropriate tools even when no direct financial incentives are possible. Professional satisfaction has to be periodically measured, correlated with patient surveys and followed by specific actions for improvement and kept high, thus allowing climbing up to the best hospitals in Bucharest, despite significant challenges within Romanian public healthcare system. Our analysis showed the importance of job motivation and satisfaction in public hospitals, despite the rough environment, and reflection of work satisfaction on employees-patients relationship in terms of availability, communication, providing information and feedback, care, and choice/preference for future services. Thus, our research objectives were fulfilled.

Mots clés

  • motivation
  • professional satisfaction
  • hospital performance
  • patient satisfaction
  • Romania
Accès libre

Dominant drivers of business students

Publié en ligne: 26 Aug 2017
Pages: 381 - 389

Résumé

Abstract

Taibi Kahler wrote in 1974 a theory about five main drivers that could explain people’s motivation and a series of positive and negative behavior patterns: Be Strong, Be Perfect, Hurry Up, Try Hard and Please People. Of course, we consider there is no absolute positive or negative behavior, since (1) everything needs to be analyzed by taking into account the context and (2) any behavior pattern can mean a series of advantages as long as people understand their own values, beliefs, attitudes and behaviors. It would be interesting to link Kahler’s drivers to the educational process, in order to be able to adapt our courses and our teaching styles to students’ requirements and also to the requirements in the labor market. Our paper is built on literature review and a questionnaire applied to a sample of 607 students in Bucharest University of Economic Studies, Romania. Information was processed with Microsoft Excel 2013, in order to look at the main working styles our students have, at the main explanations for the differences between them and in order to test a series of hypotheses. We were interested to look at the main traits of the current generation of students in our university: dominant drivers, roles of managers and specialists, the attractiveness of the entrepreneurial career path, etc. and at a series of patterns (i.e. gender-related differences). We consider results of this study are useful both for teaching and research purposes. In terms of teaching, we plan to adapt our educational methods in order to improve the educational process.

Mots clés

  • drivers
  • business higher education
  • motivation
  • human resource management
Accès libre

Professional career management and personal development for the employees of the Romanian medical system

Publié en ligne: 26 Aug 2017
Pages: 390 - 397

Résumé

Abstract

The purpose of this article is to inform as many persons as possible on the present situation of doctors in Romania, to present more theoretical and practical elements that lead to the development of a sustainable career in the Romanian medical system. So I tried to get as much information about the current situation of the medical system, to obtain a certain confirmation of what was said by those working in the system. Gradually, I found out about the hospital problems, the insufficient budget allocated annually by the mismanagement, media campaigns of doctor denigration, the increasingly precarious health conditions of Romanians, the colossal businesses of the pharmaceutical industry, the heavily discussed and postponed Health Law, that managed to pull a lot of people in the street, and many other items that are not only intended to sound an alarm regarding the condition of medical workers in Romania. Besides the researches and the relationships on the medical education status, the situation of available positions, the distribution of doctors, their salaries, the legal and ethical operating framework, I undertook also a study among physicians (especially those being at their early career) to find out the elements that led them to choose this career and what is the current situation of medical career in Romania. For this, I chose questions that reflect the doctors’ satisfaction at workplace and how performance is influenced by the satisfaction level obtained from the medical services provided in the Romanian healthcare facilities. The study had both expected results, already knowing the current situation, but also unexpected, given the expectations of doctors. In more detail, there is a large number of young doctors that before thinking about work at a prestigious hospital abroad, think to what extent the current workplace in Romania offers support for family, pension, holidays etc. Thus, we considered appropriate to bring up within the paper the current possibilities for personal development, the personal brand in various mediums of communication. This paper could be a viable support to provide the necessary elements in creating an upward career path for young doctors. This paper aims primarily to present a current situation of the medical system, more statistical data (unfortunately, statistics regarding the Romanian medical system are not very up to date, most information relates to the year 2007-2009 - 2010), but also the Romanian situation seen from outside or media. The situation is far from being optimistic, the presented data are clear signals of alarm on the present status, but we hope that in the end, this paper has managed to arouse the interest of Romanian doctors with potential on the possibilities and opportunities for a career development in the homeland.

Mots clés

  • management
  • career
  • development
  • medical system
  • healthcare organizations
Accès libre

Impact assessment on the performance of e-learning in corporate training programs in the context of globalization

Publié en ligne: 26 Aug 2017
Pages: 398 - 410

Résumé

Abstract

The goal of this paper is to identify the main criteria based on which e-Learning is used in organizational development with positive impact on business performance. Globalization has led to a multitude of changing markets, including learning and education. While quality production systems are implemented based on imposed standards, the business knowledge of employees varies in each country, mirroring the education system provided locally. The results are individually different knowledge gaps which challenged the learning industry to develop new strategies embedded in e-learning solutions. Major contribution to theory and practice on combining vision and spoken learning is brought by the work of psychologists and professors of education (Allen, 2012; Mayer, 2009; Hattie, 2009). Their innovations offered solutions for easy access to knowledge and implementation methods, as well as the documentation of the inclusion of videos in e-learning modules (Halls, 2012), offering teachers and trainers the possibility to create a live experience to trainees engaged in e-learning programs. This paper is based on data collected internationally and our empirical research undertaken in Romania, which is Europe’s main cluster for various production industries and world’s second for IT. Based on a questionnaire, we interviewed 18 multinational companies which perform parts of their business activities in Romania. Research results show that with the implementation of an effective e-learning strategy a 40-60% cost reduction, a complete measurability of the learning process and a standardized input and outcome of trainings has been achieved. This paper aims to highlight the impact of e-learning applied for business trainings within global developing companies. This study may be applicable to state education and thus could help to reduce the gap between local education and global expectations.

Mots clés

  • e-learning
  • professional training
  • performance
  • globalization
  • standardization
Accès libre

The workplace satisfaction of Romania’s medical personnel in state and public institutions

Publié en ligne: 26 Aug 2017
Pages: 411 - 417

Résumé

Abstract

Nowadays the Romanian medical system is facing changes in terms of qualified personnel. Each year a great number of doctors decide to leave Romania in order to conduct practice in other countries with better working conditions. In this situation where doctors are no longer pleased to work in Romanian institutions, can we question the quality of their working environment? This study aims to determine the workplace satisfaction of Romania’s medical personnel currently working in private as well as state healthcare institutions. In this process, the study also discloses the inside image of Romanian medical units concerning the quality of the working environment, the quality of communications between subordinates belonging to the same section as well as their relations with their „direct superior”, „hierarchic superior” and „senior management”. To construct the current research, Romanian medical personnel completed a survey in order to determine their knowledge and judgment regarding their working environment. The research implied two phases: the first phase lasted one month and a half during which 100 medical personnel from a public hospital were selected to answer a survey; the second phase followed and it targeted the application of the same questions on 100 medical personnel working in a private institution. The survey comprised situations of everyday life in which any employee can be found. The results reveal the present situation of Romanian medical personnel, how often, despite of their unpleasant working conditions, they are forced to give their best in order to provide the quality medical treatment that any patient is entitled to. Therefore, the findings (1) reveal the inside image of Romanian hospital’s system and (2) offer an empirical foundation for subsequent research and improvement of working environments in Romanian hospitals.

Mots clés

  • employee satisfaction
  • Romanian medical personnel
  • state hospital
  • private hospital
Accès libre

Internship programmes – bridge between school and professional life

Publié en ligne: 26 Aug 2017
Pages: 418 - 426

Résumé

Abstract

All stakeholders involved in the academic educational process (e.g. students, universities, organizations, state institutions) have a direct interest in developing appropriate skills among students aimed at increasing their employability chances on the very competitive labour market and in the same time lessening the transition from school to professional life. Qualitative internship programs are considered a useful instrument which can be used in order to achieve the aforementioned objective. In the last years in Romania this field boomed, many internship programs emerged and were developed and tailored according to specific needs of certain domains. This growth was triggered of one hand side by the initiatives of the socio-economic environment but also by incentives offered by the public sector in form of financing the development of such programs in universities. Which are the main characteristics of internship programs? How are they identified and structured? Which are the factors that influence their quality from students’ perspective? What strategies and measures can be adopted in order to improve the quality of internship programs? The present paper aims at addressing the above questions by analysing the responses of over 450 students which were surveyed within a questionnaire based research conducted in the Bucharest University of Economic Studies in Romania. Various research methods – starting with the analysis of descriptive statistics and continuing with factor analysis and regression analysis- were used in order offer an overview – as comprehensible as possible- of the situation of internship programs in various sectors in the field of business, economics and administration. The outcomes of the study can be of interest for several groups of stakeholders and can be taken into consideration when formulating and proposing improvement recommendations of the policies, regulations and operational measures in this field.

Mots clés

  • quality of internships
  • features of internship programs
  • business and administration students
  • Romania
  • questionnaire based survey
Accès libre

The complete human being, energy and soul

Publié en ligne: 26 Aug 2017
Pages: 427 - 436

Résumé

Abstract

The scope of the research is to investigate and to present the human being as a whole. The article presents a series of experiments regarding the human being. It reveals, based on proven facts, such as video footages and scientific measurements, that the human being is not only just a simple physical body. It is a complex structure with an energy shell and a soul with an essential role and these details have to be studied more thoroughly in the future. As the human body uses energy, specific measurement practices are applied. The authors used an Electro Photonic Imaging Device and a Thermal Vision Camera Device because the measured energy frequencies are not within the optical visual frequency range. The general and the detailed human body health state can be evaluated using the EPI Device. Despite the classical medicine approach that considers only the physical component of the body, the article proves the existence and reveals a wider behavior of the human being from the supplementary point of view which is often called spirit, soul, ethereal body or just entity. It is also shown that the human being is capable of evaluating and healing by own means. Thus, a study case is presented regarding the health state evolution during a period of one year, while the human body is continuously taking care of itself. The complete control of the entire human being leads to a continuous good health and also to a good physical and psychic state, with increased performances in all activities. All these achievements can be useful to also obtain a very good job. The objective of the authors are to proof that the soul exists and also that every person can act to improve the own health, the general state and so to rich easier the happiness.

Mots clés

  • energy
  • soul
  • human being
  • health
  • physical state
  • psychic state
  • performance
Accès libre

Human talent forecasting

Publié en ligne: 26 Aug 2017
Pages: 437 - 447

Résumé

Abstract

The demand for talent has increased while the offer has declined and these worrying trends don’t seem to show any sign of change in the near future. According to Bloomberg Businessweek, USA, Canada, UK, and Japan (among many others) will face varying degrees of talent shortages in almost every industry in the coming years. The performed study focuses on identifying patterns which relates to human skills. Recently, with the new demand and increasing visibility, human resources are seeking a more strategic role by harnessing data mining methods. This can be achieved by discovering generated patterns from existing useful data in HR databases. The main objective of the paper is to determine which data mining algorithm suits best for extracting knowledge from human resource data, when in it comes to determining how suited is a candidate for a specific job. First of all, it must be determined a way to evaluate a candidate as objective as possible and rate the candidate with a mark from 0 to 10. To do so, some data sets had to be generated with different numbers of values or different values and wore processed using Weka. The results had been plotted so that it would be easier to interpret. Also, the study shows the importance of using large volumes of data in order to take informed decisions has recently become extremely discussed in most organizations. While finances, marketing and other departments within a company receive data systems and customized analysis, human resources are still not supported by expert systems to process large data volumes. The software prototype designed for the experiment rates individuals (working for the company, or in trials) on a scale from 0 to 10, offering the decision makers an objective analysis. This way, a company looking for talent will know whether the person applying for the job is suited or not, and how much the hiring will influence the overall rating of the department.

Mots clés

  • human resources
  • talent management
  • data mining
  • big data
Accès libre

The usefulness of 360 degree feedback in developing a personal work style

Publié en ligne: 26 Aug 2017
Pages: 448 - 453

Résumé

Abstract

The present study focuses on a new approach in the process of developing personal work styles, based on the usefulness of 360 degree feedback, taking into consideration the following dimensions: work-life balance, gender-age, self-development and the behavior a person has, following the process of self-development and defining work style. Using different approaches, the study attempts to identify if there are some differences between the evaluations received from the family and the ones from the work environment. All these factors aim at improving personal, but also organizational performances. Based on the current body of the literature, a discussion is made and conclusions are presented.

Mots clés

  • self-development
  • life-work balance
  • 360 degree feedback
  • works styles
  • performance
Accès libre

Marketers’ expanded role to increase internal customer satisfaction in organizational change

Publié en ligne: 26 Aug 2017
Pages: 454 - 463

Résumé

Abstract

During times of change, when companies are going through major transformations like mergers, acquisitions, organizational re-structuring or culture change, marketing faces the challenge to implement the new strategy as scheduled, with no delays or changes. Internal customer change acceptance plays a significant role in this endeavor and marketers need to expand their role and complement Human Resources strategy to building trust between decision makers and employees, to learn and understand past issues and to find solutions. In this circumstance, marketers’ have to identify the variables that generally influence internal customer satisfaction and develop them in marketing tools aimed to increase it to the level that strategy is accepted and implemented faster than using only Human Resources mechanisms. This paper is a result of marketing practice in medium and large companies that went through organizational change. The goal of this case study is to create, based on time, discipline and cross-functional skills variables, a model of efficient processes and evaluation of marketing actions that will increase employees’ trust in change management decisions and will lead to their support and engagement. The three independent variables allowed researcher to study the complex relationship between internal client satisfaction phenomena, organizational change context and thirty-six cross-functional employees including management, ultimately to answer how these variables can be used by marketers to get the internal customer change buy-in. The research showed that the new developed marketing tools, that is to say a process flow associated with sustainable procedures and Service Level Agreements, increased internal customer satisfaction and contributed to smooth and consistent marketing strategy implementation, as scheduled. This result means the theory that marketers role in times of organizational change, besides regular Key Performance Indicators regarding the external client, expanded to complement Human Resources towards increasing internal customer satisfaction, determines a faster change acceptance, was validated.

Mots clés

  • marketers
  • internal client satisfaction
  • organizational change
  • process flow
  • procedures
  • Service Level Agreement
Accès libre

What it takes to be an entrepreneur in Romania

Publié en ligne: 26 Aug 2017
Pages: 464 - 474

Résumé

Abstract

For more than three decades now, famous and relatively famous theoreticians from around the world and from Romania having different specialisations and statuses within society (from economists who work in universities and research centres to those involved in political decisions, from anthropologists to sociologists, from political analysts to jurists) and also practitioners that have transposed their ideas into reality by creating their own small or medium enterprises which support their roles within both the national and international economies. Additionally, statistics, be them undertaken by international organisations such as UNO or the EU or other national institutes reveal the ever increasing share of SMEs within the GDP, employment, turnover and the list may continue. The concern of policy makers of encouraging the development of entrepreneurship is manifested both in the legislative and financial frameworks by granting tax exemptions to those starting a business, by awarding them financing under certain conditions or by fostering the possibility of their accessing various European funds. This article seeks to provide the necessary support to the persons/entities that would or should take the necessary steps in order to define the job of the entrepreneur or undertaker in the economic field in general and not particularly in the construction field making a review of the current entrepreneurial phenomenon in Romania and analysing the opinions of different entrepreneurs with respect to the requirements of the jobs they have. Purposively, we designed and distributed a questionnaire in Bucharest. The number of valid responses is 47 and even if the sample is not representative, we consider the findings a step forward to defining the entrepreneur job.

Mots clés

  • SMEs
  • entrepreneur
  • entrepreneur job
  • job requirements
  • skills and abilities
Accès libre

Human resources challenges for the 21st century

Publié en ligne: 26 Aug 2017
Pages: 475 - 481

Résumé

Abstract

Researchers predict that, in the next decade, significant changes will dominate the labor market. On the on hand, new jobs will be created by employers, while others will be displaced. The World Economic Forum recently estimated that 65% of the children entering primary school today will work in completely new jobs when they will enter the labor market, while many in-demand occupations or specialties are less than 10 years old. Employers start to have as a major objective to increase labor productivity, and innovation. They look for new skills, that are scarce, willing to attract, engage and retain in their organizations people that demonstrate attitudes like resilience, responsiveness to change, entrepreneurial mindset, willingness to innovate. While corporations, in their attempt to increase productivity, restructure and lay off people, entrepreneurship becomes a hope for a better living. On the other hand, the human resources market will start soon to be dominated by millennials, having to work together with people from X generation, who will retire later or not at all. Women will be more and more present in the labor force, as well as immigrants. All these phenomena will change the characteristics of the working places. In the digital world, the border between the work life and the professional life will become blurred. Wellbeing, meant at enhancing both professional and personal life, will be crucial. HR departments and leaders will have new challenges. In this paper, based on relevant literature review, attempts to identify challenging changes encountered in the labor markets, as well as actions that might improve knowledge, skills, and attitudes, necessary in the present society. Another goal is to create a model depicting the factors and flows that motivate, satisfy, and engage employees. The paper might be of interest for government, educators, training providers, employers, and workers.

Mots clés

  • industrial revolution
  • jobs
  • X generation
  • millennials
  • leaders
  • engagement
Accès libre

Education, educational services and students’ satisfaction - comparative study between Romanian and Iraqi universities

Publié en ligne: 26 Aug 2017
Pages: 482 - 492

Résumé

Abstract

Studying students’ satisfaction within the modern context aims to develop the higher education institutions; students’ satisfaction has become one of the most important factors in the process of developing the educational process. Thus, the purpose was to analyze data collected from a sample of 800 students divided equally between Romania and Iraq to measure their satisfaction with educational services delivered by the two countries’ universities. The study concluded that the level of the students’ satisfaction in Romanian universities is higher than that of their Iraqi counterparts. The researcher recommend that the Romanian universities should continue with the development of the educational plans, and with the enhancement of the programs adopted by the universities to increase the level of quality in their educational processes. For the Iraqi universities, the study recommends that Iraqi universities should give a much more important role to students’ satisfaction as one of the most important factors for measuring the quality of their educational services, the administrative staffs in the Iraqi universities should work harder to meet the expectations and needs of their students.

Mots clés

  • educational services
  • service quality
  • measuring costumer’s satisfaction
  • students’ satisfaction
Accès libre

Tourism industry in the new Europe: trends, policies and challenges

Publié en ligne: 26 Aug 2017
Pages: 493 - 503

Résumé

Abstract

This paper provides an examination of tourism in the New Member States of the European Union from the date of accession until the last year for which data is available (2014), assessing not only the importance of tourism for the New Member States economy, but also the factors and trends that might affect this industry. Predictions for tourism after joining the EU had been confident and the statistical findings confirmed that the outcomes had been to a great extent encouraging and favourable. Considerable research has been devoted to tourism in the developed countries from Europe, the so-called Old Member States, but rather less attention has been paid to tourism in the Central Eastern Europe, the New Member States region. In this regard, the paper will start with an overview of the current state of the literature on this topic, section that precedes a presentation of European bodies and policies in the travel and tourism field. According to The World Bank Database (World Tourism Organization, 2016), the number of international inbound tourists in the countries Newest Members of EU increased on average three times and in many cases this is partly a consequence of the Community’s accession policy and the market oriented policies in the new Member States (Enterprise and Industry Directorate-General of the European Commission, 2007). Time series will be analysed in order to identify specific trends in the tourism industry, but also in an attempt to characterize the European integration impact on the New Member States’ tourism. Main future challenges and opportunities in the travel and tourism industry will also be sketched, so the paper to better serve not only participants in the academic community and practitioners in the tourism business, but also financial market parties or consultants.

Mots clés

  • European tourism
  • European tourism policies
  • New Member States
  • tourism trends
  • European integration
Accès libre

Branding post-communist Romania and its effects on country image

Publié en ligne: 26 Aug 2017
Pages: 504 - 512

Résumé

Abstract

In recent years, more precisely from 1989 on, which was considered by a lot of experts the beginning of the second stage of globalization, nation branding campaigns have started to be launched in more and more countries in order to help developing nations image and reputation and to provide a competitive edge on economic, social and even political areas. Simon Anholt and Wally Olins are the two authors who studied the most nation branding phenomenon and came up with theories which were applied often by professionals when elaborating nation branding campaigns for different states. Nadia Kaneva, Keith Dinnie, Melissa Aronczyk, Luminita Nicolescu and Alina Dolea have also focused their researches on this theme and manage to contribute with new and interesting ideas to the field. This paper provides insight into the most important nation branding campaigns made by Romania starting from 1989 until present. Through a comparative analysis of those campaigns the paper tries to identify which was their impact on Romania’s image or reputation. How was Romania perceived (from the image perspective) before 1989 at international level? Did the image change after 1989? And what was the impact of the most important branding nation campaigns implemented after 1989 in the image of Romania and implicit in economy? These are the main questions this paper tries to answer. At the same time, the study also explores briefly the concept of globalization, nation branding, national image and national reputation. The conclusions of the paper will provide in the end a general background of all studied nation branding campaigns which will include the similarities and differences between them, but also both strong and weak points. Its aim is to contribute, among other existing papers, as a starting point for researchers or professionals who want to elaborate nation branding strategies for Romania or other countries.

Mots clés

  • nation branding
  • country image
  • nation branding campaign
  • globalization
  • comparative analysis
  • SWOT
Accès libre

The role of international competences in increasing graduates’ access to the labor market

Publié en ligne: 26 Aug 2017
Pages: 513 - 522

Résumé

Abstract

The transition from student to employee status has become an important issue for labor market analysts, students and universities. Literature recognizes that the international experience represents a successful factor for future employability. In this regard, a new curricular model should include international competences in order to build the qualifications required by the global labor market. A recent study (Stan, Butum & Zodieru, 2016) highlighted the importance of youngsters’ professional training upon graduation and the crucial role of collaboration between universities, companies and governments (through education policies) in increasing graduates’ accessibility to well - paid jobs and in developing an entrepreneurial career. The same study provides the results of a qualitative research that leads to the conclusion that most Romanian students have the capacity to obtain the desired job if they can swiftly gain the soft skills required by companies. It is also mentioned that the labor market has increased the demand for international competences and practical skills in recent years. The purpose of this article is to analyze the dynamics of Romanian and European students’ feedback on their universities. Beginning with the analysis of soft skills needed for the labor market and their appreciation as perceived by students, the study will examine the dynamics of students’ appreciation on international experience and other work activities that ensure the achievement of international competences and reduce the time for obtaining a job. Afterward, the paper will analyze students’ career priorities and students’ perception of university performance in providing practical and international skills needed for the labor market. The analysis will include 3-year statistic data from Trendence Graduate Barometer regarding Romanian students’ perception. The conclusions will show the dynamic of students’ expectations on provided skills and the connection with their career priorities. Furthermore, the main results of this study will represent a basis for future research in designing a guide for developing the internationalized curriculum, as well as for a future analysis of the international competences needed by students when searching for a well-paid job.

Mots clés

  • high-skilled employees
  • higher education
  • international mobility
  • international competences
  • labour market
  • learning process
Accès libre

Crackdown on tax evasion – improving ways of coordination between the tax authorities and automatic exchange of information developments in Romania

Publié en ligne: 26 Aug 2017
Pages: 523 - 531

Résumé

Abstract

In an effort to reduce the tax transparency and banking secrecy, the Organisation for Economic Co-operation and Development (“OECD”) has been taking the lead on the battle against cross-border tax evasion, seconded by the Internal Revenue Services (“IRS”) of the United States of America (“USA”), the G20 and the European Commission. Understanding the power that is brought by information and knowledge, the international community proposed adapting the exchange of information tools that were available to them and extending them to a worldwide level. As a result, the Common Reporting Standard (“CRS”) and the Foreign Account Tax Compliance Act (“FATCA”) reporting standards were born. This paper aims at analyzing the improvements in automatic exchange of information brought by the CRS and FATCA standards, together with its limitations. An important section of this paper shall be dedicated to the role that Romania plays in the international efforts of fighting tax evasion, together with the tools and procedures developed in order to sustain the reporting standards. In order to analyze the effects of the CRS and FATCA, it is essential to understand the pros and the cons of the international cooperation on tax matters and its available tools before the CRS and FATCA were created. As there is limited previous literature on the subject, the methodology of the research will consist mainly of analyzing the guidelines issued by the international public body representatives and of the current legislative framework. The main finding of the paper can be considered the fact that the new developments in the automatic exchange of information field can represent a huge step forward towards limiting the tax evasion activity, however, one should be reserved due to aspects such as compliance costs, protection of private information, data gathering and processing techniques and tax residency uncertainty. Further analysis is required when the automatic exchange of information results will be available in order to update the reservations of the paper.

Mots clés

  • automatic exchange of information
  • CRS
  • FATCA
  • tax evasion
  • Romania
  • OECD
Accès libre

Creative economy and knowledge-based society. Perspectives for Romania

Publié en ligne: 26 Aug 2017
Pages: 532 - 538

Résumé

Abstract

Creative economy is a rather new concept that started developing during the last decade, being currently applied to a variety of activities and professions. It has become an important sector of the global economy, being sustained and promoted by the European Union, especially in the context of an innovative and knowledge-based society. Within this new type of economy, creativity, innovation and knowledge management are essential factors that lead to a smart, sustainable and inclusive development in regard to the creation of new jobs and to the social inclusion requirements. According to John Howkins (2001), the creative industries / sectors include art, research, advertising, movies, theatre, software, with the possibility of the concept of creative economy to be extended to other non-artistic and IT related fields, where improvements are expected to arise through innovation and creativity. The Global Creativity Index (GCI) and the European Innovation Scoreboard (EIS), are two benchmarking tools that measure the creativity and innovation degree of the countries in the European Union, placing Romania within the last positions, especially with respect to intellectual property rights and entrepreneurship. The research methodology consists of both qualitative and quantitative methods, while the research questions to be answered are What is the degree of innovation in Romania compared to other states? What can be done in order to increase the level of innovation in Romania? In this viewpoint, the paper analyzes the development of the creative industries / sectors in Romania, in the context of creative economy and innovation. The objective of the paper is to analyze the extent to which the concept of creative economy can be promoted and implemented in Romania, given its increasing importance at the international level, with countries such as the United Kingdom that already adopted strategies to sustain this kind of economy in the past years. In order to reach the above mentioned objective, the paper has been structured by starting with a brief literature review on the topic, followed by some best practice examples in order to have an overview of the international trends in the field. It includes as well the main challenges for the implementation of the concept of creative economy in Romania, accompanied by a set of conclusions and recommendations.

Mots clés

  • creative economy
  • innovation
  • knowledge-based society
  • creative industries/sectors
  • entrepreneurship
Accès libre

Middle management’s role in strategy implementation projects: a behavioral analysis

Publié en ligne: 26 Aug 2017
Pages: 539 - 549

Résumé

Abstract

The ability of businesses to adapt their strategy quickly and effectively to the changing environment in an ever more globalized economy has become one of the key success factors for sustainable competitive advantage and above average economic returns. Success factor oriented research has identified a number of obstacles that hinder effective strategy implementation and there is growing support in the research community that the behavior of middle management, who frequently take on key positions in strategy implementation projects, is of significant importance for success or failure. However, most studies have looked at the issue from a descriptive perspective, only few have analyzed the role of middle management from a normative viewpoint. This study builds upon Porter and Lawler’s qualitative model of managerial motivation which is transformed into a quantitative principal agent model to analyze the behavior of middle managers as key actors in executing strategic projects. The analysis highlights the necessity of adequate incentive systems for strategy implementation projects. Further, the importance of managing both objective and perceived implementation risk is demonstrated. Finally, the authors suggest distinguishing obstacles of strategy implementation into process issues and behavioral issues.

Mots clés

  • strategy implementation
  • obstacles
  • middle management
  • risk
  • motivation
  • behavior
Accès libre

Involvement of small and medium-sized enterprises (SMEs) in elaborating and implementing public policies: Study case-Romanian small and medium-sized enterprises

Publié en ligne: 26 Aug 2017
Pages: 550 - 556

Résumé

Abstract

Involvement and development of the private sector in boosting the economy nationwide is a main objective of the current program of the government, which means that a good cooperation between small and medium companies, private companies and multinationals and public environment including both public institutions and policies implemented and developed by them, becomes more than necessary. The paper summarizes the findings of a quantitative research based on a self-applied questionnaire which was aimed at Romanian small and medium-sized enterprises and also of a qualitative research that gives an overview of the process of elaborating and implementing a public policy. The involvement of small and medium-sized enterprises in the process of designing and implementing a public policy can become indispensable but it is well know that there is, in fact, a lack of initiative at this level, from both parties. One of the main research questions of this paper is to find out how much do representatives of small and medium-sized enterprises get involved in the process of elaborating a public policy and how much do these actions and measures impact the organizational policies of the companies themselves. A good cooperation between the business environment and the public institutions and a strong correlation of their joint efforts, should become a common practice between both parties, being crucial that this form of cooperation to be initiated from the very beginning. The contribution of this paper is a practical one, given the fact that the paper itself entails the direct responses of small and medium-sized enterprises on the current and future public policies that directly targets them, providing as well an analysis on the effects of public policies on small and medium-sized enterprises. Thus being said, the paper can also be a guide for both small and medium-sized enterprises in providing examples and measures of involvement and favorable public policies development, but also for public institutions by analyzing responses based on practice activities of small and medium-sized enterprises; giving them a solution to correct or continue generating positive results of those policies.

Mots clés

  • Small medium-sized enterprises
  • public policies
  • practices
Accès libre

Factors affecting the quality of external auditing services

Publié en ligne: 26 Aug 2017
Pages: 557 - 568

Résumé

Abstract

This study is aim to adopt knowledge the specific concept to external audit quality and which are the factors that affecting on those qualities in the State of Iraq. As well as, to knowledge the range of depend this job in Iraq on international or local criterion to external audit quality or not. Also, to identify the satisfaction of interested parties about job of audit on service of external audit or not. According to viewpoint external audit the workers in this job and interested parties about external audit in Iraq where practice the profession of external audit under the supervision and control of the board of the profession consists of members appointed by the government ministries no are elected. The study reached to a set of many conclusions, most important of all that the realization external audit in Iraq for importance of external audit quality. Although no existence no concept of specific criterion for quality, whether international or local. Therefore, this study recommends a set of recommendations necessary to adopt uniform criterion for the quality of the external audit job in Iraq, whether international or local, to achieve high quality in audit services and achieving satisfaction of interested parties on those services.

Mots clés

  • external audit
  • quality
  • auditor
  • companies
  • control
Accès libre

Trade comparative analysis: Republic of Moldova and other relevant countries

Publié en ligne: 26 Aug 2017
Pages: 569 - 576

Résumé

Abstract

The paper plans to analyze the evolution and structure of trade of the Republic of Moldova between 2005 and 2015, its weight correlated with that of other important trade partners and its potential for development. In the first part we will make a comparative analysis between the overall exports and imports of Moldova towards the EU and CIS, also from a perspective of evolution and structure. We want to see the main categories of products that are exported from Moldova and also the main products that are imported and how this trade changed according to the legislation. We shall also develop an index of dependency of Moldova towards these economic zones and its evolution. In the second part we shall focus on the structure and evolution of trade of Moldova with The Russian Federation and Ukraine in order to analyze their weight but also the degree of economic cooperation between the countries. We are also interested to see which are the most important categories of products, that are traded between these countries and how were they affected by the relation of Moldova with the EU. In the third part we will analyze the overall trade of Moldova with Romania, measuring the evolution of the weight of Romanian exports and imports from and towards Moldova and the changes in their structure. An objective will be to set a theoretical optimum level of development in order to set a level of trade which could support a strong and sustainable economic development between the two countries.

Mots clés

  • trade
  • optimum
  • dependency
  • export
  • import
  • economic development
  • volume
Accès libre

Hybrid” airlines – Generating value between low-cost and traditional

Publié en ligne: 26 Aug 2017
Pages: 577 - 587

Résumé

Abstract

Over the last years, the rise of low-cost airlines has determined significant changes in the airline industry and has shaped the evolution of the existing business models. Low-cost airlines started by offering basic services at very low prices; traditional airlines responded by equally cutting costs and reinventing the services offered, with an orientation towards braking down the fare and implementing add-ons, in order to become cost-efficient. As traditional airlines developed strategies to become competitive in this new environment, low-cost airlines started focusing on new ways of enhancing passenger experience and attracting new market segments. As a result, the fragmentation of the market segments addressed by low cost carriers and traditional airlines became less obvious and the characteristics of both business models started to blend at all levels (airline operation, distribution channels, loyalty programs, fleet selection). Thus, this new competition became the foundation of the development of a new „hybrid” carrier, between the low-cost and the traditional models. This article investigates the characteristics of the newly created business model, both from a theoretical perspective and by analysing several case studies. A particular attention will be granted to the evolution of the Romanian carrier Blue Air towards the “hybrid” model. The article focuses on determining the position of the “hybrid” airline in a market with carriers situated along both sides of this business model: lower cost vs. “better” experience and raises the question on how value can be generated in this context. Another aspect tackled is the understanding of the new segmentation of the market, as a consequence of the development of the new business model. In order to achieve this purpose, a survey has been conducted, aiming to mark out the travel preferences of the passengers travelling through the Henri Coandă International Airport.

Mots clés

  • hybrid carrier
  • low cost airlines
  • traditional airlines
  • airline business model
  • airline industry
Accès libre

Nation branding in the Middle East - United Arab Emirates (UAE) vs. Qatar

Publié en ligne: 26 Aug 2017
Pages: 588 - 596

Résumé

Abstract

Nation branding is crucial in order to attract investment, boost exports and attract tourists and talented workforce. Nation branding stands between public diplomacy and economic benefits. An adequate policy of Nation Branding-based on a positive, credible and economically reliable image-can be able to extend the range of potential customers and of potential investors. With the aim of better understanding the new challenges, opportunities and threats existent in a globalized economy, the paper compares nation branding in the context of UAE and Qatar. The paper examines nation-branding as a driver for boosting the economy, taking into account that clichés and stereotypes (especially in the context of the Middle East) can influence our perception towards one country or another. The analysis explores the strategy adopted in order that Dubai becomes the flagship-brand of the UAE. Abu Dhabi complements this strategy, driving UAE to the position of the most valuable brand in the Middle East. The paper further enquires the case of Qatar and compares it with the branding process of the UAE. Qatar has established various branding resources such as the Al Jazeera news network, international sport events and several cultural and educational exchange programs with international profile. The UAE strives to become an influencer in the global economy, overriding its dependence on hydrocarbon reserves. Qatar is richer in hydrocarbon reserves than the UAE; nevertheless, it shares the interest of detaching itself from the rentier economy. The study explores the fact that from 2014-onwards the global oil economy was hit hard, as the price of the oil barrel is at an historic low, thus it has become stringent for the Persian Gulf countries to diversify the revenue sources. As a result, their branding strategy has become even more salient. The processes undertaken for establishing nation-brands in the Gulf are noteworthy and constitute the focal point of the paper.

Mots clés

  • nation branding
  • place branding
  • diversification
  • soft power
  • Middle East
Accès libre

Capital markets in Central and Eastern Europe: two selected cases

Publié en ligne: 26 Aug 2017
Pages: 597 - 606

Résumé

Abstract

The evolution of mutual funds in terms of their inflows and outflows is seen as a good indicator of the capital markets’ performance in different countries. At individual level, investors substantiate their buying decisions on the past performance information and invest asymmetrically in funds with very good performance in the previous periods. Numerous studies, mainly conducted in US, illustrate that mutual fund flows are highly dependent on the funds’ previous performance, as a common behavior of investors resides in looking for highly performing funds than to get rid of poorly performing ones. This paper investigates the flows of funds into and out of Slovakian and Hungarian mutual funds during the period 2007-2014 and has as main purpose to analyze the behavior of investors in mutual funds in these two emerging financial markets. The analysis focuses on identifying patterns in investors’ decision making processes and on checking the similarity of their behavioral patterns and illustrating differences among the two. Given the peculiarities of the studied period, a financially turbulent period, the paper also tries to evaluate if and how the financial crisis affected the investing behavior of Slovakian and Hungarian investors, based on the evolution of inflows and outflows of funds in a period that comprises the global financial crisis and the present period in which recovery has started.

Mots clés

  • mutual funds
  • Central and Eastern Europe
  • investors’ behaviour
  • Hungary
  • Slovakia
Accès libre

Japanese women in the contemporary society

Publié en ligne: 26 Aug 2017
Pages: 607 - 615

Résumé

Abstract

The purpose of this paper is to examine Japanese society and present contemporary issues with emphasis on the changes in the role, status and preferences of Japanese women within the Japanese society, through the years. The first part of the paper makes an overview on the evolution of the role of women in Japanese society during Shogunate until now, focusing mainly on increasing Japanese women's status within the enterprise. In the second part of the paper, the author exposes the results of several studies on the effects on the marketing of luxury for Japanese women, highlighting the correlation between increased interest to be as competitive in the workplace and enhancing concern for luxury brands.

Mots clés

  • Japanese work force
  • employment of women
  • marketing
  • luxury brands in Japan
Accès libre

Cultural influences in cross border cooperation. An overview on Romania – Serbia cross border EU financed programme

Publié en ligne: 26 Aug 2017
Pages: 616 - 624

Résumé

Abstract

Since the collapse of the Soviet bloc, European borders have undergone major transformations. Increasing flows of commodities, people, capital, information, and knowledge, coupled with the process of Europeanization, have critically changed the functions and significance of borders (Anderson and O’Dowd 1999, van Houtum 2000, O’Dowd 2003). In this context, we raise the question if culture does have a causal effect on economic development at this level of cross-border cooperation? The data on European regions suggest that it does. This paper focuses on identifying the way culture influence the way countries cooperates within cross border policies and programs in the European area, giving also an overview on particular issues of Cross Border cooperation between Romania and Serbia.

Mots clés

  • border
  • cross-border cooperation
  • culture
  • cultural influences
Accès libre

Financial management of insurance companies in the context of the new regime Solvency II

Publié en ligne: 26 Aug 2017
Pages: 625 - 636

Résumé

Abstract

The new solvency regime Solvency II represents a solid and harmonized prudential framework applicable by insurance companies in the European area. Solvency II was implemented in the European Union by adopting Directives 2009/138/EC respectively 2014/51/EU, replacing existing directives regulating solvency former regime, known as Solvency I. Thus, the new European legislation in insurance, applicable from 1 January 2016, was aimed at unifying the main European insurance market and ensuring consumer protection. The responsible authority at EU level with the implementation of the new solvency regime is EIOPA - European Insurance and Occupational Pensions Authority, which dealt in previous periods of testing the European market insurance through organizing quantitative impact studies (last exercise - QIS5, organized in 2011). The main standards derived from Solvency II and also the new IFRS accounting provisions, intended to increase the transparency of risk management and investment, in order to pricing insurance products and profitability of the different classes of insurance rates. Solvency II brings both challenges and opportunities for companies, changing the concept of building protection programs for insured and generating additional concerns about capital requirements in the determination of own funds (basic, auxiliary and surplus) that can be used to meet this requirement. Also estimate realistic and prudent risk assumed by insurance contracts concluded transposed to the insurance companies by recording every technical reserves represent a very important element in order to establish an optimal balance of financial resources. Given the significant overlap between IFRS and Solvency II, insurers will have to improve disclosure requirements of additional information and adjust planning and forecasting. All these measures will increase the efficiency of financial management, a series of operational measures and by providing documented and tested processes. Also, increasing volatility related to financial results will cause insurance companies to deliver predictable results, a process that will produce changes in the financial management optics.

Mots clés

  • Solvency II
  • financial management
  • insurance companies
  • IFRS
Accès libre

Operational risk quantification and modelling within Romanian insurance industry

Publié en ligne: 26 Aug 2017
Pages: 637 - 648

Résumé

Abstract

This paper aims at covering and describing the shortcomings of various models used to quantify and model the operational risk within insurance industry with a particular focus on Romanian specific regulation: Norm 6/2015 concerning the operational risk issued by IT systems. While most of the local insurers are focusing on implementing the standard model to compute the Operational Risk solvency capital required, the local regulator has issued a local norm that requires to identify and assess the IT based operational risks from an ISO 27001 perspective. The challenges raised by the correlations assumed in the Standard model are substantially increased by this new regulation that requires only the identification and quantification of the IT operational risks. The solvency capital requirement stipulated by the implementation of Solvency II doesn’t recommend a model or formula on how to integrate the newly identified risks in the Operational Risk capital requirements. In this context we are going to assess the academic and practitioner’s understanding in what concerns: The Frequency-Severity approach, Bayesian estimation techniques, Scenario Analysis and Risk Accounting based on risk units, and how they could support the modelling of operational risk that are IT based. Developing an internal model only for the operational risk capital requirement proved to be, so far, costly and not necessarily beneficial for the local insurers. As the IT component will play a key role in the future of the insurance industry, the result of this analysis will provide a specific approach in operational risk modelling that can be implemented in the context of Solvency II, in a particular situation when (internal or external) operational risk databases are scarce or not available.

Mots clés

  • operational risk
  • insurance
  • Frequency – Severity approach
  • Bayesian techniques
  • Scenario Analysis
  • Risk Accounting
  • risk units
  • ISO 27001
  • standard model
  • internal model
  • Solvency II
  • FSA regulation
Accès libre

The potential of intermodal transport projects in Romania

Publié en ligne: 26 Aug 2017
Pages: 649 - 659

Résumé

Abstract

The transport infrastructure sector is facing challenges related to the decarbonisation, financing and integrated developments, which need to be overcome so it can gain a competitive advantage among the strategic economic sectors. Known as a major pollutant, with 23.3 % of the total EU-28 GHG emissions in 2014, one of the transport policy objectives is to lower this percentage, by focusing on innovative solutions and modal shift (Eurostat, 2016). The White Paper (2011) promotes a sustainable development, aiming at a reduction by 60% by 2050 of the carbon emissions generated by the transport sector and at a modal shift from road to rail or waterborne transport for freight transport over 300 km with 30% by 2030, and more than 50% by 2050. The focus on an integrated development of the transport sector at the European level was reinforced with the adoption of the EU Regulation no. 1315/2013, marking the transition from a patchwork of different projects towards a vision for the achievement of an EU transport network. Moreover, another challenge is related to the scarce availability of the public money, making it necessary to attract private parties in the development of the transport infrastructure projects (The Investment Plan for Europe, 2014). Supporting the development of the intermodal transport is a way of surmounting the obstacles that this sector is confronting with, which is being implemented in Europe. The intermodal transport is introducing a paradigm shift, allowing the integration of the different transport modes together with their own advantages, as opposed to competing stand-alone modes and it can aid in the fight against climate change, scarce financial resources and congestion This article aims at determining the potential of Romania, as a member of European Union, to develop intermodal transport projects, to identify the funding sources, the obstacles and the solutions to promote the successful implementation of such projects.

Mots clés

  • intermodal transport
  • project management
  • Romania
Accès libre

Monetary policy as a source of risk in international business financings and investments

Publié en ligne: 26 Aug 2017
Pages: 660 - 668

Résumé

Abstract

This paper aims at explaining the volatility of two main macroeconomic variables (interest rate and exchange rate) that impact the cost of international capital and, consequently, the international financing decision. Firstly, the main economic theories are called to illustrate the relevant determinants of these variables from the perspective of demand and supply of capital sides. The state intervention through monetary policy is introduced to emphasize the alteration of these prices (the price of capital, the price of foreign currencies). The paper is presenting the role of these prices in international financing decision (based on the theoretical model used to estimate cost of international capital), their impact on the foreign direct investment decision and on the international portfolio investment decision. Finally, the paper describe the economic consequences of the monetary public intervention on the financing and investment decision in direct connection with the business cycle theory. The paper associates the monetary policy to the business cycles. The paper comments the unsound solutions proposed against the economic crises and that continued to harm negatively these prices generating the seeds for next international economic recession. The paper is a theoretical one, containing some very interesting research hypothesis and opening the paths for presumable further empirical researches.

Mots clés

  • international financing
  • cost of international capital
  • international financing decision
  • interest rate
  • exchange rate
  • monetary policy
Accès libre

Data science and digital society

Publié en ligne: 26 Aug 2017
Pages: 669 - 675

Résumé

Abstract

Data Science looks at raw numbers and informational objects created by different disciplines. The Digital Society creates information and numbers from many scientific disciplines. The amassment of data though makes is hard to find structures and requires a skill full analysis of this massive raw material. The thoughts presented here on DS2 - Data Science & Digital Society analyze these challenges and offers ways to handle the questions arising in this evolving context. We propose three levels of analysis and lay out how one can react to the challenges that come about. Concrete examples concern Credit default swaps, Dynamic Topic modeling, Crypto currencies and above all the quantitative analysis of real data in a DS2 context.

Mots clés

  • Data science
  • digital society
  • social networks
  • herding
  • sentiments
Accès libre

Robotic Automation Process - The next major revolution in terms of back office operations improvement

Publié en ligne: 26 Aug 2017
Pages: 676 - 686

Résumé

Abstract

Forced to provide results consistent results to shareholders the organizations turned to Robotic Process Automation (RPA) in order to tackle the following typical challenges they face: (1) Cost reduction, (2) Quality increase and (3) Faster processes. RPA is now considered the next big thing for the Shared Services Centers (SSC) and Business Process Outsourced (BPO) around the world, and especially in Central and Eastern Europe. In SSCs and BPOs the activities with the highest potential for automation are in finance, supply chain and in human resource departments. This means that the problems these business are facing are mostly related to high data entry volumes, high error rates, significant rework, numerous manual processes, multiple not-integrated legacy systems and high turnover due to repetitive/low value added activities. One advantage of RPA is that it can be trained by the users to undertake structured repeatable, computer based tasks interacting in the same time with multiple systems while performing complex decisions based on algorithms. By doing this, the robot can identify the exceptions for manual processing, remove idle times and keep logs of actions performed. Another advantage is that the automated solutions can work 24/7, it can be implemented fast, work with the existing architecture, cut data entry costs by up to 70% and perform at 30% of the cost of a full time employee, thus providing a quick and tangible return to organizations. For Romania, a key destination for SSCs and BPOs, this technology will make them more competitive, but also will lead to a creation of a series of high-paid jobs while eliminating the low-input jobs. The paper will analyze also the most important vendor providers of RPA solutions on the market and will provide specific case studies from different industries, thus helping future leaders and organizations taking better decisions.

Mots clés

  • Robot Process Automation
  • RPA
  • Shared Service Centers
  • BPO
  • Automatization
Accès libre

Does brand posting behaviour influence follower engagement on Instagram?

Publié en ligne: 26 Aug 2017
Pages: 687 - 697

Résumé

Abstract

The Instagram application captured the attention of hundreds of millions of users. The goal of this paper was to study whether there is a statistically significant relationship between the posting behaviour of corporate retail brands on Instagram and follower engagement. The proxy variables used to describe the posting behaviour were: number of days with posts, number of posts and existence of calls to action within posts. The proxy variables for engagement were the number of likes, as well as the sum of likes and comments for each post. The study referred to the Instagram activity of the top fifty global specialty retailers. Lately, the researchers’ interest in social media grew substantially. In contrast, the studies relative to the posting behaviour of companies on Instagram are rather scarce. At present, scientific research on this topic is in an preliminary state. In addition, there are no published findings of scientific research on the use of Instagram by top global specialty retailers. The paper aimed to answer the following research questions: (a) “Is posting on Instagram a common behaviour of the top fifty global specialty retailers?”; (b) “How active are these companies in posting own photo and video content?”; (c) “Are there statistically significant relationships between the variables describing the posting behaviour and those reflecting the follower engagement?”. The data were collected by monitoring verified badge Instagram accounts of the top fifty global specialty retailers. The t test was applied on data from the online study of 612 posts. Findings reveal statistical significant relationships between the analysed variables. There is a strong correlation between the number of posts and engagement. To the best of our knowledge, this article is the first to approach this topic. As a direct implication for retailers, an intense posting activity may lead to an increased engagement of followers.

Mots clés

  • Instagram
  • top global specialty retailers
  • photo and video posts
  • engagement
  • followers
Accès libre

The impact and importance of new technologies in business development in context of economic diversity

Publié en ligne: 26 Aug 2017
Pages: 698 - 710

Résumé

Abstract

In a globalized world, led and connected by and through technology, gadgets and perpetual and intense technological development, the business environment and the trajectory travelled by entrepreneurs in the process of creation and development of a business, becomes more and more challenging and complex. Continuous innovation has become mandatory and „adaptability” became the keyword for the success of any entrepreneurial actions. In this socio-economic context, an organization must find, through entrepreneurs or managers, the courage to face the uncertainty and be always prepared to adopt radical solutions, so that, can provide sustainability of the business through competitiveness. The purpose of this research started from the need for adaptability and flexibility of the Romanian entrepreneurial environment to the trends in the digital era, in order to maintain the level of competitiveness and to develop sustainably. The objective of this scientific approach is to conduct a qualitative comparative analysis relating to the importance and the impact of new technologies in the development and sustainability of a business. The comparison will be made through the eyes of two main categories of actors in the creation and development of a business namely entrepreneurs and managers from two consecutive generations - generation X (born between 1965 and 1980) and generation Y (born between 1980 and 1995). The methodology used in this study is qualitative research through focus group method, and it aims to be highlighted the changes occurred in leadership and management style of a business/organization, by observing and comparing the two generations' attitudes towards change, towards new, towards the digital component, and the intent of the use of new technologies, and more than that, their impact on the management style.

Mots clés

  • sustainable entrepreneurship
  • new technologies
  • innovation
  • sustainable development
  • generation Y
  • generation X
Accès libre

Stop hitting the woodwork! CRM for better fan-identification in Romanian second division football clubs

Publié en ligne: 26 Aug 2017
Pages: 711 - 719

Résumé

Abstract

According to pundits, Romanian football is at an unprecedented low in terms of sporting quality and fan followship altogether. A mix of mismanagement and public regulations have transformed football clubs into under-financed organizations, unable to groom their academic work, raise quality players and, subsequently, perform at highest level which ultimately led to a decrease in entertainment on the pitch and of the numbers in attendance. Adding to this is the loss of brand identity that has created a rupture between clubs and their fan-bases. The paper aims to look at customer relationship management principles that lower-league clubs can use to build better fan relationships, while also identifying, using the same CRM optic, what actually led to the decline in quality. Second tier football has been chosen as opposed to top-flight because it consists of several clubs with development potential within their municipalities, because some of their problems are more stringent than in the upper league and, last but not least, in many cases, total attendance per game is as low as 50-300 people. The research starts with a general presentation of customer relationship management. In order to prepare CRM’s adaptation to the business of professional sports, some focus will be set on the services industry. The article then presents how CRM can be applied to sports, and, in the end, it narrows down to the specific case of Romanian football by starting the investigation from some of the challenges currently faced by the sport. Particular attention is granted to the online environment, as the latter one is host to a wide range of not very expensive CRM strategies and tactics that clubs can use, cost being a factor to be taken into account for a sector with scarce monetary resources. Last but not least, the paper ends with a set of recommendations as well as future ideas for research.

Mots clés

  • football marketing
  • fan relationships
  • matchday experience
  • gameday
  • sports business
Accès libre

Millennials between consumer ethnocentrism and attitudes towards local campaigns

Publié en ligne: 26 Aug 2017
Pages: 720 - 729

Résumé

Abstract

This paper aims to measure the Romanian Millennials’ ethnocentrism tendency, together with their attitude of consumption towards Romanian-made products. Millennials, known as the Generation Y, are the demographic cohort, following the Baby Boomers and the Generation X. There is no specific date in time when this cohort begins and ends, but researchers put the early 1980’s as starting birth and, the mid-1990’s to early 2000’s as the ending birth year. Representing the youth and the young adult population, they are the principal source of worldwide influence in the world. Given the fast and massive changes of the society, in which the Generation Y developed, there are numerous socio-psychological characteristics promoted by researchers, all of these being essential for buying and consumer status of Millennials. The data were gathered using a structured online questionnaire, filled in by 518 Romanian youngsters, representative for the Generation Y, aged between 15 to 34 years old. Ethnocentrism was measured using the consumer ethnocentric tendencies scale (CETSCALE) developed by Shrimp and Sharma (1987). The attitudinal statements were used to measure the consumption behavior towards locally made products. The data was analyzed with the SPSS 20.0 statistics software for Windows, using descriptive statistics, factor analysis and correlation. The research results underline the role of the government and industry in encouraging Romanians to buy local products.

Mots clés

  • consumer ethnocentrism
  • buying attitudes
  • Millennials
  • Generation Y
  • Romanian-made products
Accès libre

Automated music selection of video ads

Publié en ligne: 26 Aug 2017
Pages: 730 - 738

Résumé

Abstract

The importance of video ads on social media platforms can be measured by views. For instance, Samsung’s commercial ad for one of its new smartphones reached more than 46 million viewers at Youtube. A video ad addresses the visual as well as the auditive sense of users. Often the visual sense is busy in the sense that users focus other screens than the screen with the video ad. This is called the second screen syndrome. Therefore, the importance of the audio channel seems to grow. To get back the visual attention of users that are deflected from other visual impulses it appears reasonable to adapt the music to the target group. Additionally, it appears useful to adapt the music to content of the video. Thus, the overall success of a video ad could by increased by increasing the attention of the users. Humans typically make the decision about the music of a video ad. If there is a correlation between music, products and target groups, a digitization of the music selection process seems to be possible. Since the digitization progress in the music sector is mainly focused on music composing this article strives for making a first step towards the digitization of the music selection.

Mots clés

  • music selection
  • digitization
  • automation
  • video ad
  • music genres
Accès libre

Cloud computing and public administration: approaches in several European countries

Publié en ligne: 26 Aug 2017
Pages: 739 - 749

Résumé

Abstract

The Digital Agenda for Europe 2020 has more objectives from increasing the participation of its citizens and consumers in the digital society to creating a fully interconnected society. These objectives can be supported through a high degree of digitization achieved at public administration level and an increased performance in delivering public services. Cloud computing is one of the ICT areas with a fast growth in the last years that presents a big promise for achieving the objectives of the Digital Agenda for Europe 2020. This paper aims to present what cloud computing is and how it can help the public administration to increase its performance. From Infrastructure as a Service continuing with Platform as a Service and moving up to Software as a Service each level of cloud computing is presented in here with its strong and weak points and how it is suitable for a given use case in public administration. The challenges and the risks of moving to cloud and the differences between public, private and hybrid cloud are also presented in the paper. The research done by the author is both theoretical and literature review and combines knowledge from different areas. An analysis and examples of cloud computing approach and implementation in several European Union countries are presented in this paper to facilitate the understanding of the subject. Cloud computing can help public administration to decrease costs, standardize services in different locations, integrate public resources and provide a higher transparency in the government act.

Mots clés

  • cloud computing
  • public administration
  • performance management
Accès libre

Digitalization influence on shopping centers strategic management

Publié en ligne: 26 Aug 2017
Pages: 750 - 758

Résumé

Abstract

Shopping centers are an important aspect of the extremely dynamic life of the 21st century consumer. Nowadays, worldwide, shopping centers represent significant multimillion euro investments, remarking themselves with bold architectures and structures and an individual brand image. Retail markets are currently under transformation by a confluence of new retailing technologies, dramatic shifts in the demographic profile and preferences of more affluent and educated shoppers. Part of the market share in modern retail moved to new forms of selling, which weakened the offer of some traditional retailers, while also creating opportunities for retailers to move and integrate their offerings with new digital tools (via electronic commerce, social commerce and mobile commerce). Meeting customer needs and increasing sales are the primary drivers behind retailers use of information systems and technology (IS/IT). New developments in IS/IT offer new opportunities and challenges for organizations and society. The current paper proposes to analyze the way digital media and information technology (computers and mobile devices) influences the virtual and physical shopping experiences, and shopping centers management consequently. The need for communication & sales channels integration, the impact of new information technologies (IT’s), the growing role of social / digital media, the balance between personalization and privacy – all represent challenges retail industry needs to currently adapt to face digitalization. E-commerce is transforming both consumer behavior and retailing business models, by greatly expanding shopping convenience, selection and affordability.

Mots clés

  • e-business
  • digital challenge
  • technology change
  • shopping centers
  • management
Accès libre

The „7Ps”&”1G” that rule in the digital world the marketing mix

Publié en ligne: 26 Aug 2017
Pages: 759 - 769

Résumé

Abstract

Recently, digital marketing mix is developing very interesting new features, because of the market dynamics, IT fast development, and globalization phenomena. The old paradigm still base on 4Ps model (product, price, promotion, and place). This research develops a theoretical framework specifically for marketing mix. Starting from a literature review regarding the 4 Ps in marketing and studying the new generation (Z) features, it can be drawn new directions on digital marketing mix, such us people, process, perseverance (other 3P). In the same time the environmental changes urge us to develop and implement new strategies in marketing as to get sustainable eco-innovation. Thus the green marketing (1G) is an important factor in the marketing mix, in raising the awareness on new politics and good practices for protecting the environment. The article brings a new paradigm for marketing mix: 7P+1G, and validate the model by unit root test. A forecast, regarding green marketing, is made with the What-If analysis.

Mots clés

  • marketing mix
  • 7P (product, price, promotion, place, people, process, perseverance) +1G (green marketing)
  • cloud computing
Accès libre

Trust as catalyst for the organizational performance. A focus on a medium-size IT Romanian company

Publié en ligne: 26 Aug 2017
Pages: 770 - 778

Résumé

Abstract

In an environment where the shift from knowledge to social economy forces the company to identify a new sustainable approach to attire, motivate and retain employees, partners and shareholders, social capital and its elements seem to be the key. The focus of the article is to prove the contribution that trust, in its entirety, as primary component of the social capital, has on the organizational performance of the company. The centric piece of the paper is based on a quantitative research conducted in a medium size IT company and it is designed to support the hypotheses per which a high level of trust will positively influence the overall business results. Regardless if it’s societal trust, market trust, relationship trust or selftrust, the respondents are requested to assess its multiple dimensions as these are translated into the company’s principles and values, the leaders’ strategy to improve the life of the shareholders, the company’s brands and their impact on the consumers, the relationship between individual and his/her peers and managers, as well as the individual’s aspirational behavior to be a trusted colleague/employee. Analyzing the results of the questionnaire, trust as core element of the social capital appears to be a main factor that drives the competitive advantage, designed to boost the employees’ energy, increase the sustainability for the company, irreversibly gain the confidence of stakeholders and eventually act a catalyst for the individual and organizational performance. The in-progress results of this paper represent significant key findings that trigger a more advance research, at a larger scale, by evaluating other companies, with similar employees’ profile to confirm the magnitude of this influence and convince the business leaders to continue supporting the creation and leverage of social capital in general and strive to generate, build and maintain trust as a must have asset.

Mots clés

  • trust
  • social capital
  • performance
  • organization
  • catalyst
Accès libre

Leadership models and behaviors for sales executives. What drives success and the best results?

Publié en ligne: 26 Aug 2017
Pages: 779 - 787

Résumé

Abstract

The paper analyses the effectiveness of the best leadership models and behaviours that are used by sales executives. Although, the impact of the most common characteristics and behaviours used in sales have been researched very well, recent research has only very limited results on a comparison of the most successful leadership personality traits and behaviours depending on companies’ situation and the context. In this paper we analyse two different situations: dynamic environment and stable environment. The context in this paper refers to the area sales. The paper will provide an explanation of the most successful leadership style used in sales and the characteristics of it and why they are also very useful in a sales process. Additionally, we will analyse the effectiveness of these characteristics in the two different situations of a company and exclusively in the sales context. We argue that the characteristics can be defined as the most effective one in every situation and context. We will develop a theoretical overview that shows clearly the best leadership traits and behaviours for each of the two situations in sales that is based on a literature research. The theoretical frameworks will be adjusted and confirmed with three senior sales executives from three different industries. The results of this paper will provide sales executives useful and easy to understand information about the advantages and disadvantages of the different leadership traits and behaviours depending on the context in and situation.

Mots clés

  • leadership models in sales
  • transformational leadership
  • characteristics of a sales executive
  • charismatic leadership behaviour
  • transactional leadership
  • five-factor model
Accès libre

Enterprising education - a research on students as agents of change in social entrepreneurship

Publié en ligne: 26 Aug 2017
Pages: 788 - 797

Résumé

Abstract

This article is a study on the awareness and understanding of social entrepreneurship among students. Moreover, the article aims to emphasize the different meanings this buzz word has developed, whether it is the purpose of social entrepreneurship, the fields it activates in or the profit which should or should not be distributed. We aim to cover aspects of the definition of the social entrepreneurship field, as well as the ways in which students act as agents of change. The main research methodologies used except for literature review are interviews and case studies for several social business developed by students. The interviews are with no predetermined questions, in order to allow flexibility. The article wants to demonstrate that students are the emerging social entrepreneurs and important initiators of change in this field. In this regards, students should be educated and should develop skills within the universities programs, skills that are very specific compared to simple entrepreneurship. The main theoretical contribution to the field of education is the proven necessity that education facilities need to educate themselves. In order to create our future entrepreneurs as well as provide them with the skills set necessary to become entrepreneurs, education needs to become enterprising. The main practical contribution is the proof of students being involved in the change of society around them and main contributors to their environment.

Mots clés

  • social entrepreneurship
  • student
  • education
  • change
  • higher education
Accès libre

Smart services – characteristics, challenges, opportunities and business models

Publié en ligne: 26 Aug 2017
Pages: 789 - 801

Résumé

Abstract

“Industry 4.0”, “Digitalization”, “Internet of Things” and “Smart Services” are the today’s buzzwords when tracking economic news. It is to ask about the meaning of those phrases. The world has changed over the last decade from a mainly physical to software controlled economy and the information technology has become an integral part of our industry and society in its entirety. Nowadays it is no longer the product that matters it is the data that are generated by using the product or service. Those usage data collected and analyzed commence new business models and services. The economic future of a company will much more rely on the ability to collect and use the data to generate Smart Services for their customers and to transform from a simple product supplier to an entertainment provider. However there are not only opportunities there are also challenges on the way to that new services which needs to be known and considered. For instance the development cycles need to be faster, the business models need to be adjusted and the positive financial results will not come into the picture on the first day. Based on those thoughts and while there only a handful of researches about that new services exists, the main purpose of the present study is at first, to gain a common understanding about the meaning and the characteristics of Smart Services and their adjacencies. Secondly, the study summarizes the identified challenges and opportunities in relation to them. Thirdly, the author introduce and explain the main business models usable for those Smart Services and the requirements for starting the transformation towards those services. The aim of this paper is to set a basis for this exciting and relatively unsought topic and to produce an interest in further empirical and practical researches in this area. The methodologies used for this research are a systematic literature review and an evaluation of existing studies with the subjects “Industrie 4.0”, “Digitization”, “Internet of Things” and “Smart Services”. Additional national initiated programs and best-practice of transformations where analyzed and interpreted. The outcome of the study is always focused on service providers.

Mots clés

  • Smart Services
  • Industrie 4.0
  • Digitalization
  • Internet of Things
  • web
  • business model
Accès libre

Structure, conduct and performance paradigm in assessing travel agency performances

Publié en ligne: 26 Aug 2017
Pages: 802 - 809

Résumé

Abstract

The purpose of this paper is to present and exemplify traditional and neoclassical approaches to market structure and tourism firm performance analysis. The paper tackles some of the industrial economic thinking trends which were meant to fill the gaps left by the traditional approaches. Two approaches stand out from among the industrial economic trends: SCP paradigm and game theory. The results show that the strategy tourism operators prefer is to practise high prices; however there is no certainty that the competitors would adhere to such an idea at the beginning or during the season.

Mots clés

  • SCP paradigm
  • tourism firm
  • game theory
Accès libre

Social value of online information in the hotel industry

Publié en ligne: 26 Aug 2017
Pages: 810 - 817

Résumé

Abstract

Studies show that public information can create social value, which reflects on the purpose of this paper in identifying information on the online environment of the hotel industry which can directly or indirectly create social value and ultimately a competitive edge. Privately owned, small and mid-sized hotels in Romania find themselves in competitive online environment and, as such, many of them cannot compete or don’t possess the know-how to compete within the online environment. With identifying the information shared on the hotels online environment and the capability of the information in creating social value, hotels can reevaluate their online strategies. The immediate objective of this paper is to analyze the websites of a sample of 99 small and mid-sized hotels in Romania and to identify critical information that can directly or indirectly create social value. Part of the objective is to draw a conclusion of the main differences on the information shared on the hotels website, which in terms will show where small and mid-sized hotels can improve their online content strategy with socially valuable information. Key findings reflect that Romanian hotels have a clear pattern across the country when it come to their online environment. However, there are serious deficiencies that can influence both economical results and the possibility of creating socially valuable information online. This work increases our understanding of the information shared on the hotels websites in Romania and comes with suggestions that hoteliers can apply in the future to increase the competitiveness and the social value of their online environment.

Mots clés

  • hotels
  • online environment
  • social value
  • Romania
Accès libre

Managing obligations to society. Case of best ranked universities in social responsibility

Publié en ligne: 26 Aug 2017
Pages: 818 - 825

Résumé

Abstract

Universities have always been engines for the economy, in multiple roles they play, trying to adapt to the continual dynamic changes in the environment, to better align their offerings with the current expectations of the students, employers and society as a whole. Many of the jobs that are now developing on the market and still will develop, as well as the multiple roles that the graduates are asked to play in society, have never been on the agenda of the universities in the past, nor on the mind of the curriculum designers. The current paper aims to assess the university engagement with community by analyzing 27 world universities best ranked in social responsibility according to QS Stars University Ratings 2016. In the paper, we discuss the extent to which different attributes of the university social responsibility are reflected among the initiatives and projects run by the universities investigated. Also, we analyze correlations between university ranking in social responsibility and other rankings. Following the QS Stars methodology, the criteria used to evaluate social responsibility of selected universities included: community investment and development, social work and service in community, human capital development, environmental concern and impact, and other social responsibility actions. The results show that the degree of involvement of universities in social responsible initiatives varies broadly for each one of the dimensions analyzed, in terms of nature, intensity and impact of initiatives. Our research findings offer good insights for both universities’ leaders and community developers in their joint-efforts to develop and grow a prosperous community.

Mots clés

  • social responsibility
  • university ranking
  • QS Stars University Ratings
  • community engagement
  • community development
Accès libre

Seniorpreneur as a career option for smart active ageing. A study on Romania

Publié en ligne: 26 Aug 2017
Pages: 826 - 833

Résumé

Abstract

The ageing of population is a global phenomenon and solutions are looked for in order to milder the economic impact. One alternative is supporting active ageing through development of entrepreneurship among senior population. Seniors are a valuable resource for entrepreneurship. They often have the skills, financial resources and time available to contribute to economic activity. This will lead to the growing prevalence of senior entrepreneurship. Engaging seniors in both business creation and in supporting new and existing entrepreneurs would maximize the quality of their working life, nurture intergenerational learning and ensure knowledge transfer. In this respect, the paper seeks to answer the following questions: What is the seniors’ perception about entrepreneurship and self-employment in Romania? How desirable is a self-employed career for senior population? What are the motivations of Romanian senior population to become self-employed? To achieve these objectives, the paper analyzes the pulse of self-employment in Romania for people from the age group 60+ years. The data used are extracted from the Amway Global Entrepreneurship Reports (AGER) developed for Romania, for the period 2014-2016. Analysis is conducted by taken into considerations the following dimensions of the “entrepreneurship perception”: attitude towards entrepreneurship, intention of starting a business, entrepreneurship career appealing and entrepreneurship motivations. The findings of the paper show that, in general, people over 60 years exhibit a decreasing positive perception about entrepreneurship that can be explained by multiple reasons. In the paper we raise some key issues that require consideration by policy makers in order to support senior entrepreneurship in Romania and improve seniors’ quality of life.

Mots clés

  • senior entrepreneurship
  • active ageing
  • Romania
  • Amway Global Entrepreneurship Report
  • entrepreneurship perception
Accès libre

How can regional assets capitalization add value to a modern economy? A theoretical approach

Publié en ligne: 26 Aug 2017
Pages: 834 - 842

Résumé

Abstract

In a world where social needs surpass the effective resources meant to meet them, in a world where social change might be triggered by false expectations, scientists have joined forces with the private and public actors in order to exploit the full potentiality encountered at the regional levels. If we make a comparison between the social levels and the regional levels we might find astonishing similarities between a reference network and a cluster because they are both networks. The similarity is relevant from the behavioural point of view because any change in the society, be it at the social, economic, cultural, political, natural level is ignited by the human factor. Territorial capital, the innovative notion that reunites the productive assets found at the level of a territory, has been placed in the light of the current research given its potential in indicating economic growth and competitive advantage at the level of a territory. Being essentially a conceptual paper, this article extends the literature by offering a theoretical perspective on the terminology needed to understand territorial capital, to discover the possibilities of creating shared value process at different regional levels and, eventually, to analyse the capitalization concept, considering it an efficiency and social change generating tool in the regional economy. This paper is intended to bring a different, original, perspective at the theoretical level through the way in which the three core concepts are analysed in a common frame. Using the qualitative research methodology and the investigation of literature as a core research method, the conclusion reached was that the above mentioned concepts are interlinked conceptually. As far as the applicability of their relationship is concerned, this paper sets just the beginning of an in-depth research of these relevant fields of study.

Mots clés

  • territorial capital
  • creating shared value (CSV)
  • capitalization
  • regional economy
  • social change
Accès libre

Managing ambiguity in business. A holistic and innovative approach

Publié en ligne: 26 Aug 2017
Pages: 843 - 851

Résumé

Abstract

This article will look at the hurdles of dealing with ambiguity and the wicked problems that organizations are struggling with, by providing key insights from a one year team coaching program that the author had the opportunity to deliver in a Romanian entrepreneurial organization. Based on the actual methods used and highlighting the findings and impact of the program, we will reflect on how ambiguity manifests in organizational settings and how wicked problems can be defined. The methods employed are within the range of complexity science and are holistic approaches to systemic interventions within organizations that combine soft systems methodology, paradoxical theory of change, complex responsive processes approach with important concepts from systems thinking such as archetypes, feedback loops and modeling. One of the key objectives of the article is to reunite different academic approaches and link them to a case study as a way of adding value to these approaches and to reiterate that research needs, to find its rightful place in the practitioners’ toolkit and have a more meaningful and direct impact on the real struggles that business is faced with. The author’s expertize in systemic interventions is based on extensive practitioner experience, having been trained and certified as a systemic coach and facilitator, and therefore draws upon the work of other skilled practitioners that support companies in finding successful ways to address complexity. Although the article can be easily put in the complexity science and systems thinking area of academic interest, the research questions and insights are intended to serve the learning and the evolution of organizations.

Mots clés

  • ambiguity
  • complexity science
  • soft systems methodology
  • mental models
Accès libre

Building new business model from multiple case study research in the Internet of Me

Publié en ligne: 26 Aug 2017
Pages: 852 - 862

Résumé

Abstract

The digital revolution has greatly changed the approach to culture, work, leisure time, the way we interact and communicate with people: the digitization of information has taken root and has become essential in all areas of social life as a phenomenon that guides and monitors the transformation of society in all its various forms, bringing great changes in almost all areas and especially in the world of work and industry. One of the core elements of the fourth industrial revolution is the systematic application of IoT technologies (Internet of Things) and IoM (Internet of Me) to production processes on a global scale. This study seeks to identify the main decision in the IoT/IoM pattern innovation, more specifically, the purpose of the paper is primarily an analysis of what are the possible future benefits of IoT and IoM, trying to understand the effort and their opportunities for a consumer oriented business. Then to analyze the competitive advantage that companies are pursuing when they implement a business which is IoT/IoM oriented. Our research aims to address the following two research questions: 1)Does exist a well-structured business model for the companies IoT/IoM service oriented? and 2)Is it possible to standardize behavioral pattern and to draw guidelines for companies who want to start similar strategic management? The research presents two phases methodologically joined between them: from a theoretical point of view it is defined the change from the business model towards the “ecosystem” of business model in the strategy IoT/IoM oriented, and from a empirical point of view the business development of an Italian start-up first mover group in the sectors involved in IoT and IoM revolution, through the direct interview qualitative tool.

Mots clés

  • Industry 4.0
  • Internet of Things
  • Internet of me
  • Business Model
  • Cyber-physical Sistem
Accès libre

Risk profiles and corporate social responsibility for socially disadvantaged groups

Publié en ligne: 26 Aug 2017
Pages: 863 - 874

Résumé

Abstract

Developing a suitable mechanism to stimulate the effective redeployment of capital to social activities can be designed using the corporate social responsibility (CSR) concept. Informational asymmetry about the real state of social risks influences the effectiveness of allocations in social protection. Reducing information asymmetries can be achieved by providing the corporations with socially determined risk profiles based on predetermined patterns. Offering concrete lines of action following the risk profiles approach which to base investment decisions of companies in CSR can maximize the results of such a mechanism. In a previous study the authors have developed a theoretical model for determining the poverty risk profile. This study aims to present the practical application of the theoretical model and to provide comments on some errors. Hence, the authors analyzed Buzau county municipalities in presenting the highest risk level determined by the theoretical model and related causes and performed an impact assessment of an investment in CSR based on a model. Specifically, the authors evaluated the impact of reducing the risk of poverty for a suitable investment in CSR. In the second part of the study, the authors analyzed the types of errors that can be found in the municipalities risk profile model due to the granularity of the data. Thus, for the error of over-inclusion, the authors assessed social allocative efficiency at the community level using benchmarking analysis, Data Envelopment respectively and analyzed the data of the under-inclusion error in Buzau county villages. The paper aims to analyze the relative limits on quantitative models and risk of poverty and the practical implementation of these types of models in the development of corporate social responsibility. The study provides also a useful tool which can be made available to companies in order to increase the vulnerable groups’ life quality and the satisfaction of shareholders, stakeholders and related parties following redeployments according to specific CSR mechanisms.

Mots clés

  • corporate social responsibility
  • efficiency and effectiveness of social assistance programs
  • data envelopment
  • risk profile
  • business ethics
Accès libre

Policy framework and legal forms of social enterprise in Central and Eastern Europe

Publié en ligne: 26 Aug 2017
Pages: 875 - 883

Résumé

Abstract

In Central and Eastern European countries, the transition to a market economy stimulated civil society initiatives that in the past had been either discouraged or had become part of the Communist state system, and opened new pathways to entrepreneurial initiatives. The 1990s was an open window to the creation of a significant number of non-profit organizations, including the pioneering establishment of the first social enterprises. When these countries became members of the European Union, the process of legal institutionalization of social enterprises started to be discussed and has taken place at various stages. The purpose of this paper is to provide a comprehensive overview of the policy frameworks and the legal forms and of social enterprises in eight countries: Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia. The research seeks to determine the extent to which the development of national policy frameworks influences the development of legal forms under which social enterprises operate. For the purpose of this analysis, data were collected from relevant to this subject country reports, studies, laws released between 2009 and 2016. The research shows that European social enterprises are often ‘hidden’ among existing legal forms either as associations and foundations with commercial activities, cooperatives serving general or collective interests and mainstream enterprises pursuing an explicit and primary social aim. Further research needs to be done to determine the potential for growth of entities operating as associations and foundations with commercial activities. Furthermore, the research concluded that the countries with specific laws on social entrepreneurship generate 61 % of the social economy activity in Central and Eastern European countries. Further research needs to be done to determine if introducing a social enterprise specific legal form, will stimulate the development of the business models under which social enterprises operate and implicitly growth.

Mots clés

  • social economy
  • social enterprise
  • Central and Eastern Europe
  • policy framework
  • legal form
  • social aim
Accès libre

Analysis of additional hotel services in the international luxury hotels – a case-study from Budapest

Publié en ligne: 26 Aug 2017
Pages: 884 - 892

Résumé

Abstract

The investigation of additional services from the aspect of local embeddedness is a novelty in the academic literature related to the tourism and hotel industry. The primary function of hotels is to provide accommodation and other services for the hotel-guests. Secondarily, they may also offer complementary-services and a community space for the city-residents and for non-hotel guests. Due to the globalization, the change in the consumer behaviour and global firms, the question of location and local resources are becoming more and more significant especially in the case of international hotel chains. The international hotel company is a member of a hotel market at a specific location, and it is surrounded by a sociological environment, local people, culture and traditions which have an impact on the competitiveness of the hotel. The author explains the results with the application of the multidimensional scaling model, finding answers for the questions in which ways the local embeddedness can have an effect on the competitiveness of a hotel based on a case-study carried out in a five-star hotel (member of an international chain) of Budapest in 2016.

Mots clés

  • additional hotel services
  • local embeddedness
  • international hotel chains
  • hotel competitiveness
  • multidimensional scaling model
Accès libre

Main research areas and methods in social entrepreneurship

Publié en ligne: 26 Aug 2017
Pages: 893 - 903

Résumé

Abstract

The main specific objective of this paper is to explore the content of research as well as methodological issues on social entrepreneurship in the context of corporate social economics and entrepreneurship. Therefore, in order to obtain an overview of the research done on this theme, we conducted a literature review using the exploratory analysis as methodology. We focused on the studies and articles which were published in the most important academic periodicals that cover subjects as management, economics and business. The articles were identified based on the presence of selected keywords in their title, abstract and body of the article: ‘social entrepreneur’, ‘social enterprise’, ‘social entrepreneurship’, ‘corporate social entrepreneurship’ and ‘social economy’. Using this method, there were selected articles and studies published starting from the last decade of the 1990s up to 2015. We were also interested in international publications on the topic and also in books that approached social entrepreneurship.

Mots clés

  • social entrepreneurship
  • social innovation
  • social entrepreneur
  • social enterprise
  • research methods
Accès libre

Consumer behaviour towards new products

Publié en ligne: 26 Aug 2017
Pages: 904 - 915

Résumé

Abstract

The main purpose of this paper is to find a structure of consumer behaviour, especially regarding the preference for the newly-released products from the market. We intend to study the impact of the new, innovative products compared to the traditional ones. Empirical research is based on the selling mix of a company in Romania and Austria. The analysis of this case will be done with the support of an econometric model of simple regression. This research confirms the validation of the structure and the attitude of the consumers towards the new products, launched by that company. By applying this linear model, it is possible to identify the percentage of the increase or decrease in consumption of new products. The need of carrying out this study regarding the impact of the consumption of new products is to create a profile and to find the causes that influence their acquisition. The originality of this paper lays in studying some aspects of influence over the consumption of new products from McDonald’s in Romania and Austria. Where does McDonald’s stand regarding the digitalization? It is not enough to sell new products; it is also necessary to bring innovation in the organization. Nowadays consumers are more present in the online environment and retailers are adapting at a fast pace to their needs of direct communication and transparency. How does a company that faces Slow Food and Bio era, deal with consumers who are more preoccupied with the nutritive values of the nourishment act? Platforms for real-time communication with clients such as “Our food. Your question” redefined the term of transparency and helped McDonald’s stop bad rumors. The results of the research will show us if there really is transformation in behaviour towards traditional products and in what degree consumers are influenced by innovation.

Mots clés

  • consumer behavior
  • consumer structure
  • communication campaigns
  • innovation
  • digitalization
  • statistics
Accès libre

Listen to ISO 9001:2015 for organizational competitiveness: Correlation between change management and improvement

Publié en ligne: 26 Aug 2017
Pages: 916 - 926

Résumé

Abstract

In their quest to achieve superior performance and business results, organizations have extensively adopted models such as ISO 9001 Quality Managements Standards. Research supports that Quality Management System brings significant benefits for organizations competitiveness and success and more than 1 million organizations of all activity sectors worldwide have implemented ISO 9001. In a world of increasingly complexity and interconnection, the revised ISO 9001:2015 International Standard aims to ensure that Quality Management Systems are flexible while remaining reliable. The concept of Change Management was introduced in the standard and Improvement can be achieved both in a continual/incremental mode (already present in the ISO 9001:2008 edition) and in a breakthrough change/disruptive mode (new in ISO 9001:2015). ISO 9001:2015 is now closer to Business Excellence Models, such as the EFQM, that highlight the need for agility and flexibility for enduring success. To access if organizations that have already implemented ISO 9001:2015 are indeed managing change and achieving improvement, and if there is a relationship between these two variables, a survey was held with IRCA ISO 9001 Registered Auditors on a worldwide basis. Sample normality was confirmed trough Kolmogorov-Smirnov Test and the hypothesis was tested by using Pearson Correlation coefficient. The findings show that the auditee organizations have positively implemented ISO 9001:2015 requirements on change management and improvement. There is also a strong positive correlation between change management and improvement, suggesting that the organizations that properly manage change by planning, designing, implementing, and controlling change in an effective and efficient way, demonstrate a higher level of performance and results improvement. These conclusions have significant implications for the Quality/Organizational Excellence Management Body of Knowledge, requiring a new way of thinking for 21st-century organizations and reinforced attention to change management processes and the skills needed by the Quality/Organizational Excellence Managers professionals, for their successful use.

Mots clés

  • ISO 9001
  • business excellence
  • change management
  • quality management systems
  • improvement
  • competitiveness
Accès libre

The importance of a project level risk management methodology for EU Structural and Investment Funds accession in Romania

Publié en ligne: 26 Aug 2017
Pages: 927 - 936

Résumé

Abstract

Accessing EU funds is considered to be an important development chance for all type of beneficiaries in Romania: public bodies, nongovernmental organizations and firms. The grounds for this are the amount of funds available per beneficiary and the co financing rate (for example, the investment projects for firms amounted up to 5 million Euro of EU funding at a EU co financing rate up to 70%). As the Romanian responsible authorities strive to conduct a fast and smooth process, the reality shows the funds accession is rather unpredictable and costly, both in terms of time consumption and financial resources. Lots of causes contribute to this situation, amongst which the inefficient risk management conducted, both by the state authorities responsible with the EU funds management and by the beneficiaries of funds. The effects are visible: a poor absorption rate of the EU structural and cohesion funds (79,23% at the level of January 2017 for the 2007-2013 financial period). The authors' research follows the importance that risk management should have in the process of managing and accessing EU funds. The research methodology starts from the responses that 170 people involved in managing EU funded projects within 2007-2013 financial period gave to an online questionnaire carried on in 2016. The focus was to establish if and how risk management methodologies/procedures/guidelines were used within the implementation of projects and in what measure this kind of approach should be compulsory or optional for the financial period 2014-2020. The research methodology further implied the analysis of key issues for projects financing such as: feasibility and opportunity determination, budgeting, projects' evaluation, etc. The main finding of the research is that applicants and beneficiaries need to implement project level risk management methodologies. Based on this, the authors propose a guideline for drafting project level risk management methodologies, that put into practice might increase predictability during the preparation and implementation and reduce the additional costs of the EU funded projects. It is envisaged that this guideline should be treated as recommendation in order not to enable abuse of regulatory actions from the part of the managing authorities.

Mots clés

  • risk
  • risk management
  • EU structural and investment funds
  • projects
Accès libre

The determinants of exchange rates and the movements of EUR/RON exchange rate via non-linear stochastic processes

Publié en ligne: 26 Aug 2017
Pages: 937 - 948

Résumé

Abstract

Modeling exchange rate volatility became an important topic for research debate starting with 1973, when many countries switched to floating exchange rate system. In this paper, we focus on the EUR/RON exchange rate both as an economic measure and present the implied economic links, and also as a financial investment and analyze its movements and fluctuations through two volatility stochastic processes: the Standard Generalized Autoregressive Conditionally Heteroscedastic Model (GARCH) and the Exponential Generalized Autoregressive Conditionally Heteroscedastic Model (EGARCH). The objective of the conditional variance processes is to capture dependency in the return series of the EUR/RON exchange rate. On this account, analyzing exchange rates could be seen as the input for economic decisions regarding Romanian macroeconomics - the exchange rates being influenced by many factors such as: interest rates, inflation, trading relationships with other countries (imports and exports), or investments - portfolio optimization, risk management, asset pricing. Therefore, we talk about political stability and economic performance of a country that represents a link between the two types of inputs mentioned above and influences both the macroeconomics and the investments. Based on time-varying volatility, we examine implied volatility of daily returns of EUR/RON exchange rate using the standard GARCH model and the asymmetric EGARCH model, whose parameters are estimated through the maximum likelihood method and the error terms follow two distributions (Normal and Student’s t). The empirical results show EGARCH(2,1) with Asymmetric order 2 and Student’s t error terms distribution performs better than all the estimated standard GARCH models (GARCH(1,1), GARCH(1,2), GARCH(2,1) and GARCH(2,2)). This conclusion is supported by the major advantage of the EGARCH model compared to the GARCH model which consists in allowing good and bad news having different impact on the volatility. The EGARCH model is able to model volatility clustering, persistence, as well as the leverage effect.

Mots clés

  • Implied Volatility
  • Leverage Effect
  • EGARCH Model
  • Heteroscedasticity
  • Fat-tails
  • Determinants of Exchange Rates
  • Unit-Root Tests
Accès libre

Mechanisms underlying major investment projects in the Romanian public administration: strong and long term collaboration among stakeholders

Publié en ligne: 26 Aug 2017
Pages: 949 - 959

Résumé

Abstract

Starting from the existing situation, in order to understand the mechanisms underlying investment projects financed from public funds in Romania, we analysed the following public sources of information: For projects implemented before 2007, we analysed data available on the Internet, including databases of international donors such as www.dgmarket.com, http://www.ted.europa.eu/, etc. We analysed data made available by the Public Procurement Electronic System through the portal http://data.gov.ro. The data set analysed includes over 8 million awarding contract notices. For the EU funded projects, we requested the Ministry of European Funds to offer us access to the relevant database (SMIS), which includes all the projects financed under the European funding programme 2007 – 2013 (projects implemented before 31.12.2015). Comparing data from all these sources leads to the conclusion that the information is coherent and represents a credible basis for our analysis. We found that 48% of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds (in terms of the share of eligible expenses) requested outsourcing services for the preparation of the project documentation needed to apply for funds; such expenses represent almost 3 % of the total eligible project expenses approved. Almost 36% (in terms of the share of eligible expenses) of all investment projects implemented in Romania in 2007 – 2016 and co-funded under European funds, revealed a strong and long term relationship between the company that participates in the elaboration of the grant application and the beneficiary of funds. This collaboration continued throughout the implementation of the project. These companies delivered services / supplied goods / carried out construction works whose value exceeds 15 billion lei, which represents over 54% of the total eligible costs of the respective projects.

Mots clés

  • investment projects
  • initiating project
  • European cohesion and structural funds funded projects
Accès libre

Preliminary study on leadership proximity

Publié en ligne: 26 Aug 2017
Pages: 960 - 969

Résumé

Abstract

In general, it is agreed that effective leadership requires a certain degree of proximity, either physical or mental, which enables leaders to maintain control over their followers and communicate their vision. Although we agree with the leadership proximity principles which states that leaders are able to efficiently serve only those people with whom they interact frequently, in this article we focus instead on the disadvantages of being too close and the way in which close proximity can actually hurt the effectiveness of leadership. The main effects that we discuss regard the way in which proximity and familiarity allow followers to see the weaknesses and faults of the leader much more easily and thus diminish the leader’s heroic aura, and the emotional bias that results from a leader being too familiar with his followers which will impede the process of rational decision making. As a result, we argue that there exists a functional proximity which allows the leader the necessary space in which to perform effective identity work and to hide the backstage aspects of leadership, while also allowing him an emotional buffer zone which will enable him to maintain the ability to see clearly and make rational decisions.

Mots clés

  • leadership
  • proximity
  • emotional bias
  • functional proximity
  • emotional buffer
  • Gulliver effect
Accès libre

Can the social market economy be a viable solution for a future sustainable development of the Romanian economy?

Publié en ligne: 26 Aug 2017
Pages: 970 - 981

Résumé

Abstract

Social market economy (SME) is a socio-economic model which attempts to unite the freedom of a competitive market economy with social equilibrium and progress. It is seen as a “third path” besides a purely liberal market economy and an economy which is heavily regulated by the state – in the SME there is an intermediate degree of regulation. Historically, the model corresponds to the real economic policy of the German Federal Republic after the 1950s, thus it is sometimes called Rhine capitalism. According to the Treaty of Lisbon from 2007, the European Union pursues a competitive social market economy with full employment and social progress. On one hand, this model wishes to exploit the advantages of a free market economy, especially its high efficiency in the production of goods, while on the other hand it uses state intervention to correct for potential negative outcomes from market processes. Further characteristics of this model are: ensuring competition, free price formation, private property, motivating performance through profit aspirations as well as guarding personal freedoms. Last but not least, this model encompasses a strong structural policy by encouraging weaker geographical regions or industries. Therefore, it is highly probable that such a socio-economic model might be the appropriate alternative to fuel a sustainable growth of the Romanian economy. Using county level data, from the National Institute of Statistics and from the National Office of the Trade Register, for the year 2015 we show that the Romanian economy is highly polarized with a few growth poles (islands) and a large number of underdeveloped units. Thus, it becomes obvious that these important disparities will hinder a future sustainable development and by consequence a clear “road-map” represented by this economic model might prove to be a viable solution for the Romanian economy.

Mots clés

  • Social market economy
  • regional development
  • regional disparities
  • economic development trends
Accès libre

A digital platform as a facilitator for assessing innovation potential and creating business models: a case study from the i3 project

Publié en ligne: 26 Aug 2017
Pages: 982 - 993

Résumé

Abstract

Many ideas flow into the innovation funnel but only 1 out 3000 becomes a successful new product. There are many variables that interact in this complex process and investors decisions are often based on experience and feeling rather than a comprehensive evaluation of the social, economic and technological factors. The innovation potential, the innovator capability, the accessibility of the technology as well as the social acceptance and the chosen business model are the some of the critical factors of a successful innovation strategy. In the broad sense, a business model is the approach of doing business through which a company can sustain itself and generate profits in the long term. Digital platforms can help manage and facilitate the complexity of value propositions and provide an immediate feedback to the entrepreneur. Creating value is necessary, but not sufficient, for an organization to profit from its business model. It is important to see the whole picture of the business that is why the business models are so important for a good start of the business. However, innovation assessment and business model development sometimes are not an easy task and ICT can make this process easier. Then, the aim of this paper is to explore the role of digital platforms as facilitators for the techno-socio-economic impact assessment and the development of sustainable business models through the analysis of a case study from the EU Horizon 2020 “i3 project”.

Mots clés

  • innovation
  • impact
  • business model
  • digital platforms
  • business plan
Accès libre

A new set of performance indicators for improving the capitalization process of Intellectual Property

Publié en ligne: 26 Aug 2017
Pages: 994 - 1008

Résumé

Abstract

Performance indicators of technology transfer/knowledge activity, of intellectual property capitalization in a technical university as well as those referring to the monitoring of academic entrepreneurship are closely correlated, in terms of objectives and strategies adopted at European level, in the context of the third mission undertaken by universities of the XXI century. So far, a systematic research on the development about the capitalization process of intellectual propertytechnical universities in Romania was not conducted. In this context, the analysis and adoption of a new set of indicators for monitoring and evaluating institutional performance, appropriate to an optimization model applicable in academic environment, is required to support the growth of its competitiveness. The present analysis involved the achievement of a research in two stages, one quantitative and the other qualitative, defining, in a rational manner, the set of indicators for monitoring and evaluating the institutional performance. Analysis began with a quantitative research, where the number of indicators, originally envisaged, was limited. Following this research there were retained only the indicators having a weight of over 50%. For a better formulation of the problem investigated and for some conceptual clarification it was achieved a qualitative research, conducted through a focus group, two authors scrolling two such research. Following qualitative research, carried out in order to classify indicators for monitoring and evaluation the performance analysis of technology transfer / knowledge within a public research organizations, i.e. a technical university, we decided the importance ranking of the first three indicators: a) the number of direct contracts with the socio - economic environment; b) the number of contracts and research projects financed through competitive mechanisms, in collaboration with partners from outside the academic environment and c) the revenue generated from the commercialization of knowledge from higher education institutions (revenue from licenses, income from royalties etc.).

Mots clés

  • technology transfer/knowledge activity
  • intellectual property capitalization
  • set of indicators
  • quantitative and qualitative research
Accès libre

Effects of silo mentality on corporate ITC’s business model

Publié en ligne: 26 Aug 2017
Pages: 1009 - 1019

Résumé

Abstract

Background & orientation: The existence of silo mentality has direct effect on the business model used by any ITC company. Its contribution slows service delivery whilst increasing customer’s despondency. However mitigation could help overcome barriers within divisions, improve customer experience and increase productivity. But when different units as components of a company fail to integrate, collaborate and work together to achieve a common objective goal, not only are performances affected but also operations at all levels. A business model canvas can help determine how a company intends to create value for customers whilst it makes money. Thus deliverance of an effective value proposition for efficient customer needs, can be affected through silos. Purpose: This study explore the effects of silo mentality within an ITC company (at organisational level) using the 9 elements of the business model canvas as framework. Methodology and research questions: As an exploratory study qualitative methods were used where in-depth interview questions looked at how silo mentality within the organisation affects the core business model elements and why. Twelve participants were selected from an enterprise business unit through a convenience sampling method. Content analysis helped with the development of core themes that looked at the how silos affect each element (process) and why (meaning). Findings: Silo mentality affects not only the individuals but team, products, value proposition, relations with partners, customers, stakeholders. Thus undermines internal capabilities and key resources. Absence of teamwork within the divisions leads to conflicts which delays achievements of common goals. Bottlenecks affect inter-divisional progress and relations, customer output and relations and compromise the quality of service. Implications: Silo mentality is a bottleneck that not only weakens firms’ capabilities and growth potential but destroys any value created by the firm.

Mots clés

  • silo mentality
  • business model canvas
  • ITC firm
  • qualitative research
  • content analysis
Accès libre

Innovation ecosystem model for commercialization of research results

Publié en ligne: 26 Aug 2017
Pages: 1020 - 1032

Résumé

Abstract

Innovation means Creativity and Added value recognise by the market. The first step in creating a sustainable commercialization of research results, Technological Transfer – TT mechanism, on one hand is to define the “technology” which will be transferred and on other hand to define the context in which the TT mechanism work, the ecosystem. The focus must be set on technology as an entity, not as a science or a study of the practical industrial arts and certainly not any specific applied science. The transfer object, the technology, must rely on a subjectively determined but specifiable set of processes and products. Focusing on the product is not sufficient to the transfer and diffusion of technology. It is not merely the product that is transferred but also knowledge of its use and application. The innovation ecosystem model brings together new companies, experienced business leaders, researchers, government officials, established technology companies, and investors. This environment provides those new companies with a wealth of technical expertise, business experience, and access to capital that supports innovation in the early stages of growth.

Mots clés

  • Innovation
  • Innovation Ecosystem model
  • Technology Transfer Centres
  • Technology Transfer Value Chain
  • Technology Readiness Level (TRL)
Accès libre

Business modeling process for university’s technology transfer offices

Publié en ligne: 26 Aug 2017
Pages: 1033 - 1049

Résumé

Abstract

The present paper is devoted to analyze the appropriate recommendations to increase the effectiveness of technology transfer centers from Romanian National Network for Innovation and Technology Transfer - ReNITT, hosted by universities. The study is focused on the definition of a conceptual frame to develop specific business models, by the specialized compartments from technology/knowledge transfer entities, and using the specific instruments of business modeling process. The qualitative and quantitative analysis of the 8 steps scheduling of pairing the building blocks of the Business Models Canvas, corresponding to the specific technology transfer models, and taking into account the elements of the value chain of technology transfer and making connections with technology readiness level, allows a clarification of this relative “fuzzy” and complicated modeling process of university’s Technology Transfer Offices activities, gathering in a concentrated format all necessary information. According to their mission, objectives and strategies, universities decide upon a certain business model for the Technology Transfer Offices, adaptable to client segment and value proposition to attain, by the offered services portfolio. In conclusion, during their activities, Technology Transfer Offices identify, validate and exploit the opportunities originated from applicative research results, by “technology push” methods. Also, there are necessary specific competences (human and material) to develop externally aware business models starting from real needs of the clients, by “market pull” techniques, that would contribute to enhance the endogenous innovation potential of firms.

Mots clés

  • technology transfer office
  • business model canvas
  • technology transfer models
  • technology transfer value chain
  • technology readiness level
Accès libre

Fostering eco-innovation in SMEs through bridging research, education and industry for building a business oriented model

Publié en ligne: 26 Aug 2017
Pages: 1050 - 1057

Résumé

Abstract

Small and medium sized companies (SMEs) assure economic growth in Europe. The Environmental Technologies Action Plan (ETAP) concentrated and mobilized Member State and stakeholder efforts bringing eco-innovation from research to market, improving market conditions, opening up global markets. Rapid and reinforced actions are now required, building on the experience of ETAP helping SMEs to have benefits by introducing eco-innovative approaches into their operations. Particularly start-ups, can be the ideal incubators for eco-innovation, and can bring to market new, less environmentally damaging products, services and processes. Generally many SMEs are struggling to survive in an ongoing global recession and often they are becoming reluctant to release innovation, particularly eco-innovation (Assante et al., 2016). In this paper we present first the differences between eco-innovation based business models and those based on regular innovations. Secondly we give some approaches tested in national and European projects with participation of the authors in order to help SMEs to develop business models of eco-innovations. The first one is to build cooperation between researchers, educators and SME staff in order to explain SMEs the advantages of such models and to implement models designed by researchers. Secondly we used practice oriented forms of training for SMEs like Problem Based Learning (PBL) as an efficient form for SMEs and entrepreneurship education to learn to solve problems like the building of an eco-innovation business model. Thirdly we use in our projects eco-innovation biographies (EIBs) reflecting the evolutionary character of such innovations and the dynamics of related policy streams.

Mots clés

  • Innovation
  • SME
  • E-learning
  • Business oriented model
  • Problem Based Learning (PBL)
  • Cloud Computing
Accès libre

Kaizen Award in Romania: the KAIZEN™ way in obtaining the continuous improvement success

Publié en ligne: 26 Aug 2017
Pages: 1058 - 1067

Résumé

Abstract

In the times when the economic performance and sustainable management are representing two of the most challenging characteristics of the business environment, there are some methods and techniques that passed the test of time. The great majority of companies are using in the present the KAIZEN™ Business System, a system of management which has been expanding in all over the world, by having and implying the power of continuous improvement and standardization. Having as “role-model” the well-known Toyota Production System, KAIZEN™ Business System has become the fundamental way of managing a business, which led to the creation of personalized management systems for companies. In Romania, it was also developed the Kaizen by Harmony concept, as an approach of KAIZEN™ Business System, its results being highly appreciated at the international level. In the daily challenging task of changing the paradigms and mentalities, several companies succeeded in understanding the importance of KAIZEN™ Business System and have been applying the Kaizen by Harmony concept ever since. Their results are impressive, few companies reaching to the international benchmark level in their fields of activity and becoming leaders of the Romanian or European markets. Therefore, the Kaizen Award in Romania has become the proper way of acknowledging their results and efforts to strive for excellence in the endless cycle of the continuous improvement. The aim of this paper is to describe the competitive advantage offered by KAIZEN™ Business System and Kaizen by Harmony, in strong correlation with the practical approach of the case-studies representing the amazing stories of the Kaizen Award in Romania winners until the present moment. The use of these best practices will underline once again some important business characteristics that must exist in every company, for it to become and remain competitive.

Mots clés

  • KBS
  • KbH
  • Kaizen Award in Romania
  • continuous improvement
Accès libre

Employability skills for the Romanian outsourcing industry

Publié en ligne: 26 Aug 2017
Pages: 1068 - 1080

Résumé

Abstract

The Romanian outsourcing sector as part of the service sector has evolved enormously in the last decade in Romania. Foreign Direct Investments in this sector continue to grow, thus the sector employs more than 100.000 people in 2016 in Romania. However, companies claim not to get the right skills from employees which will allow them to move the latter from a purely service sector to more value-added services. Therefore, there is a need to generate a workforce with the necessary employability skills which will serve the industry, thus allowing the continuity of growth as well as permitting to be competitive in regards to other East European countries in the outsourcing industry as salaries rise in the Romanian industry and the industry is being pressured by the 4th industrial revolution. So far, many Romanian studies have been done reflecting the skills need from the sector by using in first instance the questionnaire methodology or global surveys mostly on a very holistic view. This paper shows a new approach by deriving the skills needed by employers from their own data base: mainly job descriptions published in companies or recruitment sites by analysis of job entry positions. This allows a close and accelerated approach to define skills needed without a too high time delay in addition it permits to understand if the outsourcing industry is moving towards digitalization. The job descriptions are analyzed by using the method of qualitative content analysis according to Mayring (2014) using specific criteria based on literature review of employability skills. Key findings show that there is a need for specific skills technical skills but a trend to a higher demand in soft skills.

Mots clés

  • employability
  • skills
  • outsourcing
  • Romania
  • competitiveness
Accès libre

The impact of the terrorism on North African tourism

Publié en ligne: 26 Aug 2017
Pages: 1081 - 1087

Résumé

Abstract

Tourism is one of the most important sector of the national economy and in the same time is the main reason for which the tourists visit the North African states. In 2015, the total contribution of North African tourism represent 10.8% from GDP registering an increase of 1.4% compared to 2014, also the contribution of tourism to employment was 10.4 % in 2015. But this increase was affected by the terrorist attacks in Algeria, Egypt, Libya, Morocco and Tunisia. According to Global Terrorism Index for 2016, these countries are in the ranking of states with the highest impact of terrorism. Security situation in 2015 is the following: 947 incidents, 1198 deaths, 1603 injured, 264 property damages. This situation greatly influences the decision of tourists to travel in these countries. For demonstrate what is the impact on terrorism in this region have been analized the data bases of World Travel and Tourism Council, Council and Foreign Relations and Global Terrorism Database for the period 2010-2015. If the terrorist attacks continue in the next years not only the tourism will be affected but also the activities of its associates.

Mots clés

  • tourism
  • tourists
  • terrorism
  • security
Accès libre

Testing the quality of underground transport in Bucharest

Publié en ligne: 26 Aug 2017
Pages: 1088 - 1100

Résumé

Abstract

In a city with overcrowded traffic, a component of the common transport is Bucharest transportation of metro (subway passenger transport on the railway network underground and surface) and is the core activity of METROREX S.A. The company aims each year a greater number of passengers according to the charts of the movement of subway trains to ensure adequate transport capacity as required and optimal conditions of comfort and safety. Each year, the company aims to find out the opinion of passengers on the transport conditions and, in this respect, organize a survey with the aim of testing the quality of underground transport in Bucharest in 16 subway stations considered to be representative. In this paper I intend to do an analysis using statistical research methods, of the quality of underground transport in Bucharest, using data from the survey conducted in the year 2014. Data collection in the stations was realized through 32 operators, by 2 in each station (one in each direction of travel) by completing questionnaires (using interview technique or face to face technique), using a sample considered representative of 2,400 travelers with a margin of error of ± 2% on a 95% probability level. Data collection was made during the period when passenger traffic is large enough to provide a good representation of data and cover the entire program running underground. The questionnaire contains eight questions that have allowed those who responded to the survey to fit in the time between trains in circulation. In 2016, the structure of the questionnaire was modified, questions were modified for a more effective assessment of characteristics of observation. The answers to the questions contained in the questionnaire were collected by operators in the 16 subway stations: Piața Unirii 1 and 2, Piața Victoriei 1 and 2, Dristor 2, Nicolae Grigorescu, Universitate, Piața Sudului, Pipera, Eroilor, Gara de Nord 1, Obor, Crângași, Pantelimon, Parc Bazilescu and 1 December 1918, analyzed and processed based on 2400 questionnaires. A new category of polls states in the present and is determined by evolutions in computer networks and communication, are called online surveys conducted on the Web. Also in this paper, I propose the implementation of a solution based on an online survey website that includes the online version of the questionnaire used to collect data from the virtual environment.

Mots clés

  • survey
  • questionnaire
  • qualitative variables
  • regression model
  • hypotheses
  • multifactorial regression
Accès libre

Business tourism - a sustainable form to relaunch Romanian tourism

Publié en ligne: 26 Aug 2017
Pages: 1101 - 1110

Résumé

Abstract

Sustainable tourism should be achieved in a balanced environment with standards that guarantee the preservation of ecological balance and prevent overuse of resources, pollution and other negative environmental impacts. In Romania, the tourism as social and economic phenomenon integrates in the unitary economy of the country having the necessary conditions for enhanced development and optimization of the tourism fund’s explotation. This paper aims to highlight different perspectives to relaunch tourism services and will be the identification of factors which contributing to the sustainability of the tourism business. In addition, there will be comparisons of competitiveness in travel and tourism sector in countries such as Bulgaria, Czech Republic, Hungary and Romania.

Mots clés

  • travel
  • business tourism
  • economic competitiveness
  • relaunching tourism services
Accès libre

Medical tourism market trends - an exploratory research

Publié en ligne: 26 Aug 2017
Pages: 1111 - 1121

Résumé

Abstract

Medical tourism is a modern concept, but not a new tourism practice. Even there is still no international consent on the definitions and measurement of this trend, its importance in the development of a tourism destination started to be taken into consideration. In accordance with tourism segment classification depending on journey reasons recommended by World Tourism Organization, one of the main groups is for “medical treatment/health”. Being part of health tourism, medical tourism is often called medical travel because it includes the act of travelling to different countries for medical reasons. An increasing significant element in medical service trade is patient circulation at cross-border level with a view to obtaining necessary health services; this circulation generated a new phenomenon, namely medical tourism. Studying the scientific literature we find new medical tourism trends in connection with globalization and liberalization. The countries that decided to promote this niche tourism are aware of the huge economic benefits brought by this. Analyzing published data by tourism medical organizations associated to indicators of economic development, we find two aspects: the success of a medical tourism destination is influenced by the economical level of the receiving countries, but, at the same time, it is also a growth factor for developing economies if it is included in their national strategy. We intend to find the answer of several questions: trends in medical tourism development are involving only medical service trade, or a combination of specific activities of many sectors? Is the medical tourism acting in favor of developing economies? This study aims to notice the development trends of the medical tourism based on the published figures and on the experience of major destinations and to highlight the importance of the medical tourism for the developing economies.

Mots clés

  • medical tourism
  • development
  • health
  • trends
  • developing economies
  • travel
Accès libre

Business tourism a means of dynamising the life of local communities

Publié en ligne: 26 Aug 2017
Pages: 1122 - 1128

Résumé

Abstract

The touristic expansion happens easier in a balanced climate, with standards that guarantee a constant ecologic balance and avoid the overuse of resources, pollution and any other negative impacts on the environment. MICE – Meeting, Incentive, Convention and Exhibition Industry – represents one of the industries with the highest rate of growth in the world, but unfortunately it is poorly developed in Romania. In Romania, the tourism, as a socio–economic phenomenon, integrates in the country’s economy, having the necessary conditions for accentuated growth and the optimisation of the degree of usage of the touristic stock. According to the recommendations of the World Tourism Organisation, Romania should focus on the cultural, ecologic, events and spa tourism. The prognosis of the World Tourism and Travel Council from the United States of America show that by the year 2020, the rhythm of growth of the business and events tourism in Romania will be of about 8% yearly. In this context, our country may occupy an important position in the MICE touristic activities market, if it would use the existing touristic potential and future investments in order to create favourable conditions for this type of tourism. We bring into the debate the existence of equipment which could help the business tourism, the presence of beautiful landscape areas (the Danube Delta, the Black Sea seaside, medieval cities and monasteries, touristic resorts from the Carpathians also.), presentation of the local folk traditions and crafts, the chromatic spectrum of the seasons in Romania and not lastly the folklore and gastronomy. These could be joined by the existence of a rich cultural life – especially in the large cities and touristic resorts-, the presence of museums and memorial houses, and we could not exclude the areas which have preserved their natural potential and rare fauna species. This work aims to emphasize business tourism as a sustainable form of tourism, which can lead to a relaunch in services and economic development of the local communities in a competitive international economy.

Mots clés

  • business tourism
  • sustainability
  • economic relaunch
  • local community
Accès libre

Entrepreneurship in the rural areas of Romania. The impact of the 2007-2013 EU funding programmes

Publié en ligne: 26 Aug 2017
Pages: 1129 - 1136

Résumé

Abstract

This paper contributes to the research on entrepreneurship in rural areas by focusing on the absorption and investment plans developed with European Funds and implemented in Romania in 2007-2013 for rural development. Entrepreneurship in the European Union is seen as the solution for creating and increasing jobs number, developing new business models, and is related very often with creativity and innovation. Moreover, entrepreneurship is directly linked to the economic performance of regions (Audretsch, D.B., Keilbach, M., 2005), poverty reduction and contributes to the economic advancement of rural communities. The focus on rural areas is given by the fact that almost half of the Romanian population lives in villages or communes (around 45%), and the main income source comes from agriculture. In the same time, there is an important potential for entrepreneurial projects because rural areas are high underdeveloped, there is a lack of services in major fields as education, social services, entertainment etc. Also, we find a high potential in tourism, especially in ecological, adventure or agro-tourism. We develop a theoretical framework to discuss the potential impact of EU Funds on rural development, the access to public funds for rural population, their readiness for business ownership, the most accessible fields for starting a business and regional variables. Our study is based on public data and official reports on the European Funds received by Romania in the budgetary period of 2007-2013 and other market data that round the entrepreneurship frame in rural areas. We analyze the number of start-ups financed by European funds, type and size of enterprises, number of jobs and reasons for contract cancellation. We find that regions with a reach cultural heritage and closer to the Western border have registered more applications and are more interested in self-employment, but also that given the administrative barriers many entrepreneurs decided to cancel the contracts.

Mots clés

  • entrepreneurship
  • rural areas
  • European Funds
  • regional development
  • services
  • tourism
Accès libre

Green controlling – concept and practice

Publié en ligne: 26 Aug 2017
Pages: 1137 - 1145

Résumé

Abstract

The three-dimensionality of sustainability links the following fundamental areas: ecology, economy and society. Sustainability controlling focuses on a three-dimensional sustainability-oriented system of corporate goals, which equally includes economic, environmental and social goals. Therefore, the objective of sustainability controlling is the comprehensive support of sustainability management, namely formulating and implementing a corporate policy that comprehensively covers all three dimensions of sustainability – people, planet, and profit. One of the pillars in defining sustainability is the environmental pillar. Among the three pillars of sustainability, the environmental dimension is the one that receives constant attention from academia, organizations and policy-makers. Governments, international agreements, society and various stakeholders pressure organizations to improve their behavior towards the natural environment. Thus, authors chose to focus in the present research on green controlling. There is a variety of terms used to name “green controlling” such as environmental controlling, ecologically oriented controlling, ecological controlling, eco-controlling etc. The concept is widely spread and accepted in German-speaking countries, whereas the Anglo-American scholarly community conceptualizes “environmental management control systems” or “environmental management accounting”. The authors’ objective is first to clearly define the concept of “green controlling” and secondly, to thoroughly state the most relevant instruments of green controlling for each of the following areas of responsibility: supply area, disposal area, environment area, adaptation area and coordination area. The importance of the presented research lies in the need of both controllers and managers for a clear set of easily and efficiently applicable instruments of green controlling, in the lack of which any theoretical debate lacks on relevance.

Mots clés

  • sustainability
  • environment
  • green controlling
  • management control systems
  • instruments
Accès libre

The strategic role of partnerships between universities and private corporations as a driver for increasing workforce competitiveness in a global economy

Publié en ligne: 26 Aug 2017
Pages: 1146 - 1157

Résumé

Abstract

A global economic context means increased competition as corporations face contenders from other countries, and there is a wider range of choices on the market available to consumers. This global competition drives economic actors to seek competitive edges to increase the efficiency of their operations; within this global economy, corporations seek these advantages, outsourcing their activities in order to make use of the opportunities of globalisation. The same situation can be encountered on the labour market. While the expansion of economic activities globally often means increased employment opportunities, it also means that job seekers from around the world need to become more competitive on the job market to attract better employment opportunities. Workforce competitiveness is determined by various factors, like availability and ease of access (i.e. job market legislation), level and quality of education, and cost. The level and quality of education are of particular concern, as it gauges the potential of the workforce, and is the cornerstone of the controversial “skills gap”, based on a common complaint of corporations regarding a shortage of skilled employees. Acknowledging the importance of this factor, numerous companies have concluded partnerships with local universities, leading to intimate connections between the business environment and education. Thus, in the same manner that supply and demand shape the markets for typical goods and determine the success of a market, these partnerships between universities and corporations influence the labour market, bringing together demand (i.e. the corporations seeking skilled employees) and supply (universities and education centres training the future workforce). There are numerous long-term benefits that such partnerships can bring to a country’s education sector. As such, the present paper seeks to examine the strategic importance of partnerships between academia and industry as a key driver in defining the competitiveness of the workforce, with a case study on Uzbekistan.

Mots clés

  • innovation
  • knowledge
  • education
  • competitiveness
  • globalisation
Accès libre

Stochastic analysis of the main macro-economic indicators characterizing higher education in Romania during 2001-2016

Publié en ligne: 26 Aug 2017
Pages: 1158 - 1166

Résumé

Abstract

The education system in Romania will have to take into account the need to give people the skills and abilities needed to adapt quickly to changing labor markets. In the current context the study is based on comparative statistical analyses and correlations in the field of human resources in the higher educational system, analyses based on secondary data or information provided by the Romanian Statistical Yearbook published by the National Statistics Institute and other publications by public institutions in Romania such as: The National Bank, The Ministry of National Education, etc. The paper presents the major trends and shift in macroeconomic indicators specific to higher education and proposes a model to better understand the relationship between these indicators. In conclusion without continuous training and mobile resource salary comparable to those of EU countries, along with an infusion of capital proper, cannot achieve highly educated people well integrated, civilized, cultivated so as to reach sustainable growth on the long term. In this regard the Ministry of National Education and RQAAHE launched nationwide research projects involving both teaching staff in higher education, and the alumni and students. In order to decrease unemployment among young people (24-30 years) were involved in these projects and employers so that there is a better relationship between skills acquired in the continuous education and labor market; projects that are underway or to be implemented.

Mots clés

  • high education system
  • study programs
  • macroeconomic indicators
  • labor market
  • correlation and regression method
  • degree of inclusion in education
119 Articles
Accès libre

The 11th International Conference on Business Excellence

Publié en ligne: 26 Aug 2017
Pages: i - iii

Résumé

Accès libre

Opinion on the new financial products issued by financial institutions - structured products

Publié en ligne: 26 Aug 2017
Pages: 1 - 8

Résumé

Abstract

Structured products are financial instruments issued by a financial institution where the amount claimed by the investor from the issuer depends on the variation of the price of the underlying instrument based on which the certificate is issued, namely: individual shares, share costs, stock indexes, currencies, commodities or combinations of these according to the prospectus. These products appeared with the development and diversification of financial services during the recent years, as well as due to the emergence of liquidity suppliers of international importance. The liquidity providers have developed on their own platforms a new range of derivatives which are different from the classical derivatives. These new derivatives, similar to contracts for difference (CFDs), have given to other institutions the possibility of transferring their risk more easily, regardless of the nature or type of the underlying asset. Thus, the financial institutions issuing structured financial products have found in liquidity providers the possibility of developing the CFDs required for their risk transfer operations. The issuers of structured products do not accept new risky positions when they issue certificates because they neutralize them through suitable risk transfer operations. The issuing financial institutions structure certificates from a variety of financial assets and/or commodities in order to adjust them to the various risk profiles of investors both in terms of expected return and in terms of the response to risk. Thus, products are issued that quickly respond to the trends of the financial or commodity markets. Investors in structured financial products benefit from the economic effect of a derivative but are exposed to financial risks that are more complex and more difficult to understand and at the same time depend on the reliability and stability of the contractual relationships between various financial institutions.

Mots clés

  • hybrid financial products
  • structured products
  • certificates
  • derivative
Accès libre

Oil and gas business in changing times

Publié en ligne: 26 Aug 2017
Pages: 9 - 24

Résumé

Abstract

The top 5 oil majors (British Petroleum, ExxonMobil, Total, Chevron and Royal Dutch Shell) are analyzed in terms of investments, earnings and financial & operational performance along the entire business value chain, for a period of 5 years. One of the key objectives is to understand how the Upstream and Downstream segments may play different roles in the definition of a winning corporate strategy, considering how they may reveal very different strengths and weaknesses during crude oil price crises. When the crude oil price goes down, the upstream sector is running big cost cutting measures, in order to reduce expenditures and keep acceptable gross margins per barrel of oil equivalent. On the other hand, the downstream segment receives cheaper raw material without a significant decrease in the final price of the oil products. Thus, how can oil companies leverage this flexibility in order to pass successfully through periods of crude oil price slides, and even take advantage of those? The paper aims to analyze the correlation between oil price and oil volume produced on one hand, and investments and earnings, split by business segments, on the other hand. The variation of investment and earnings is hence compared to crude oil price fluctuations for a clearer picture of the business profitability per segment during the peak and bottom periods of the oil market. Upstream and Downstream segments are also benchmarked against each other to understand the role that each of them is playing in the industry. The results are expected to provide some trend lines to understand how much the cost cutting measures are impacting the overall business, as well as to appreciate whether the reduction in the oil production, which in theory should be followed by a rise in prices, is indeed in the best interest of the oil majors. Going further into analysis, the paper is trying to define an optimum production interval, that will maximize profits along the entire value chain (upstream and downstream) of the oil business, defined by both the production volume of crude oil (replacement cost per barrel in accordance with volume), as well as the price per barrel of oil equivalent. The analysis takes into account official sources exclusively, i.e. oil companies’ websites, corporate crude oil production reports, annual financial reports and investors’ analyses.

Mots clés

  • oil
  • supermajors
  • production
  • investments
  • earnings
Accès libre

Priorities in Romania's energy strategies in the current European and Euroatlantic context

Publié en ligne: 26 Aug 2017
Pages: 25 - 35

Résumé

Abstract

In a world dominated by uncertainties (geopolitical, economic or political), ensuring energy security has become a top priority, both at state level, as well as for supranational alliances (EU, NATO). The paper aims to present, synthetically, the evolution of the adequacy efforts of the Energy Strategies of Romania in the context of contemporary challenges of global security, insisting on two priorities: the internal needs of energy security and the configuration of the alliances that Romania is part of. Romania’s energy security concerns were amplified in 2006-2007, but, although several projects were released in public debate, none has been adopted and assumed. Our investigation was based on the current information we have analyzed, compared and synthetized so that we anticipate strategic developments expected over the next twenty years.

Mots clés

  • energy strategy
  • energy security
  • energy policy
  • energy market
Accès libre

Effective business models for electric vehicles

Publié en ligne: 26 Aug 2017
Pages: 36 - 44

Résumé

Abstract

The proposed study aims to use asyncretic and synthetic approach of two elements that have an intrinsic efficiency value: business models and electric vehicles. Our approach seeks to circumscribe more widespread concerns globally - on the one hand, to oil shortages and climate change - and on the other hand, economic efficiency to business models customized to new types of mobility. New “electric” cars projects besiege the traditional position of the conventional car. In the current economy context the concept of efficiency of business models is quite different from what it meant in a traditional sense, particularly because of new technological fields. The arguments put forward by us will be both factual and emotional. Therefore, we rely on interviews and questionnaires designed to fit significantly to the point of the study. Research in the field of new propulsion systems for vehicles has been exploring various possibilities lately, such as: electricity, hydrogen, compressed air, biogas, etc. Theoretically or in principle, it is possible for tomorrow’s vehicles to be driven by the widest variety if resources. A primary goal of our study would be to theoretically reconsider some of the contemporary entrepreneurship coordinates and secondly to provide minimum guidance for decision-making of businesses that will operate in the field of electric mobility. To achieve this, we shall specifically analyze an electric mobility system but in parallel we will address business models that lend themselves effectively on aspects of this field. With a methodology based on questionnaires that had to overcome the conventional mechanism using some of the most unusual ingredients, we hope that the results of our research will successfully constitute a contribution to the goals and especially as a means of managerial orientation for entrepreneurs in the Romanian market.

Mots clés

  • business model
  • economic efficiency
  • electric mobility
  • environment
  • entrepreneurship
Accès libre

Correlations between energy economy and housing market prices in the EU-impacts on future sustainability

Publié en ligne: 26 Aug 2017
Pages: 45 - 54

Résumé

Abstract

The global economic system is facing multiple challenges in terms of social development, technology and innovation, as well as sustainability needs. As a result, the value of existing assets is changing globally depending on the scarcity, necessity and effects on the business field leading to increased prices of traditional sources of energy and increased competition in the economic field. Thus, the EU energy market has progressed in reducing its dependence on external energy sourcing, by increasing production of renewable energy, such as wind or solar, as well as by further integration of the electric grid. Based on the Pearson coefficient this article intends to research the correlations between the economic, energy and house prices in recent years and the future possible impacts depending on their evolution. For example, gas prices in the past decade increasing household costs in most countries due to the dependence on third parties for energy, lead to the need of increasing the share of renewable energy in total energy consumption, which have consequently decreased electricity prices since 2008. However, this development has still not solved the additional costs issue of households due to the new technologies implemented although wind and solar energy receive in general low margins. Such energy issues, as well as the increased housing prices after the financial crisis in 2008 have caused on their own an additional burden on the economy and households spending income in the next years following.

Mots clés

  • energy
  • correlations
  • house price index
  • renewable energy
  • economy
Accès libre

Burden of industrial waste and potential for recycling: technological, economic and environmental aspects

Publié en ligne: 26 Aug 2017
Pages: 55 - 63

Résumé

Abstract

Many benefits resulting from the development of the heavy industry are, unfortunately, accompanied by many issues resulting from the process of generating the industrial waste. This manuscript is presenting the environmental consequences, resulting from long period of time of heavy industry production and exploring the possibilities to recycle some of the industrial waste generated during the period of more than one century of ore excavation and copper extraction in the region of Eastern Serbia, in the vicinity of city of Bor. First part of the manuscript is presenting the scope of environmental issues, resulting from the heavy industry in this region and the amounts and the structure of the industrial waste, generated in this area, as well as the influence of generated waste to the environment of the region. Second part of the manuscript is dealing with the potential to recycle and reuse some of this waste, analyzing technological, economic and environmental aspects at the same time. In the final segment of the paper, some practical examples will be addressed based on the research work conducted at both experimental and industrial level. Results presented in the manuscript are mostly collected during long term research of the project team from Technical faculty in Bor, University of Belgrade, in the field of environmental management. This way, this manuscript is based on review of the research papers authored or co-authored by the author of this work, dealing with water, soil and air pollution, published in leading international journals. Also, the manuscript is presenting the literature review of other international issues dealing with the environmental management issues in the vicinity of large industrial complexes. Parts of the research results, presented in this manuscript are financially supported by the Ministry of Education, Science and Technological development of Republic of Serbia, under the project TR34023.

Mots clés

  • industrial waste
  • recycling
  • environmental management
Accès libre

Review on the dimensions of business-university alliances

Publié en ligne: 26 Aug 2017
Pages: 64 - 73

Résumé

Abstract

The present paper is concerned with identifying and synthesizing the directions of development of the partnerships between the academic environment and the business environment found in main research dedicated articles in the last five years in three relevant databases: Thomson Reuters Web of Knowledge, Science Direct and PROQUEST Central. The method we employed consists in tertiary data selection, processing and filtering by means of adequate software. The thorough literature review on partnerships between the academic and business environments revealed eight main directions of development: sponsoring activities, collaborative research (research partnerships and research services), curriculum development and delivery, academic entrepreneurship, human resource transfer (mobility of academics, mobility of students), informal interaction, commercialization of property right, and scientific publications. In order to qualify the directions of the partnerships we analysed their definitions, identified their goals and the economic and social impacts that they had.

Mots clés

  • business university transfer
  • academia-business partnership
  • knowledge transfer
  • university-business alliance
Accès libre

Environmental Key Performance Indicators of CSR activities in the energy industry

Publié en ligne: 26 Aug 2017
Pages: 74 - 80

Résumé

Abstract

The preoccupation towards environmental issues within companies has increased in the past years. On one hand, companies now aim at cleaner, environmental products or production lines. On the other hand, many companies have started to invest in different CSR projects, having as objective different environmental issues. In this article we focus on a set of aspects and indicators reported by energy companies, regarding their environmental performance. The need for a cleaner environment has determined policy makers and different organizations to adopt several guidelines referring to environmental activities of companies. Based on the CSR and sustainability reports of 92 top energy companies, we analyze the main environmental aspects and indicators which were revealed by these organizations in year 2015. Results of this qualitative analysis could contribute to the assessment of the extent to which environmental standards are currently taken into account by energy companies.

Mots clés

  • corporate social responsibility
  • environment
  • energy
  • sustainability
  • performance reporting
Accès libre

Natural gas transport system in the extended region of the Black Sea in the current geopolitical, geo-and geo-economics context

Publié en ligne: 26 Aug 2017
Pages: 81 - 92

Résumé

Abstract

Energy security as an integral part of economic security is seen by the involved actors from two perspectives: alternative sources and alternative energy routes, respectively as the interdependence between consumers and suppliers at all levels of the cycle of production, transport, distribution. The present article aims to present the existing realities of the transport routes of natural gas from the Extended Black Sea Region, and a brief analysis on the main projects outlined in this area in the context of contemporary challenges to global security. The methods used in elaboration of this article are documenting, analysis and synthesis.

Mots clés

  • energy security
  • economic security
  • Black Sea Region
  • geo-economic challenges
  • natural gas distribution system
  • transport routes
  • geostrategic
Accès libre

The common energy market of the European Union – utopia or reality?

Publié en ligne: 26 Aug 2017
Pages: 93 - 102

Résumé

Abstract

The European Commission has the initiative to foster the sector of renewable energy and to build an Energy Union, with a common energy market at the level of the European Union, but is this only an utopic vision or is this possible to achieve? The topic of clean energy is very new and of great interest for the European Union, which is shown by the fact that the European Commission recently adopted on the 30th November 2016 the package “Clean Energy for All Europeans”, which contains proposals for the modernization of the energy market at the level of the European Union. But which are the challenges such a project is confronted with? According to the literature, such challenges are related to the process of liberalization of electricity markets. Conflicts between national interest and international actors of the energy market might occur. Due to the oligopolistic structure of the energy market, there are several barriers to the market entry. In order to answer to the research questions, case studies regarding the liberalization of the energy market will be analyzed in a comparative manner, offering an international overview. Furthermore, the legal provisions on which the common energy policy of the European Union relies, will be analyzed, as well as their economic and social impact. The package “Clean Energy for All Europeans” comprises a proposal of the revised Renewable energy Directive, energy efficiency measures and issues related to the Energy Union Governance. It contains as well proposals for the electricity market design, which will be analyzed and the present paper outlines the contribution of this proposal in building a common energy market of the European Union. What role does competition play in implementing the common energy market of the European Union? Which role do competition authorities have in this context? These are interesting aspects to be analyzed in the present paper.

Mots clés

  • common energy market
  • energy union
  • clean energy
  • renewable energy directive
  • energy union governance
  • competition
  • liberalization
Accès libre

The energy performance contract - key towards energy efficiency in Europe?

Publié en ligne: 26 Aug 2017
Pages: 103 - 110

Résumé

Abstract

The paper focuses on the Energy Performance Contract (EPC) as a business model for energy efficiency. More precisely, it examines, using two case studies, enablers and disablers – from an economic, legal and institutional/managerial perspective – for advancing this arrangement across the EU. The EU has set a 20% energy savings target by 2020 (roughly equivalent to turning off 400 power stations), with an even more ambitious target of 27% by 2030. To reach these ambitious targets, the investments needed are approximately EUR 100 bn/year across the EU (according to the European Commission). Energy efficiency is not, as fervent proponents often claim, the low hanging fruit in terms of investment efforts. Like any other sub-sector, such as transmission and distribution, it demands innovative financing instruments to ensure adequate scale-up. In the paper, I use two comparative case studies to identify and classify the disablers and enablers of Energy Performance Contracting/Energy Services Companies (ESCOs) development: the European frontrunner, namely Germany, and a laggard, namely Romania. As research methodology, I use literature review, comparisons between similar government policy planning and evaluation documents, and stakeholder interviews. While academic literature on the topic (Seefeldt, 2003; Wilhelm, 2015) is developed for Germany, for Romania a critical reflection on EPC promotion policy is to be found only in industry documents (e.g.: ARPEE, 2013; Tractebel, 2015). The German success demonstrates that, contrary to the belief of Romanian stakeholders, it is not the lack of a standardized contract model that prevents EPC development, but lack of genuine commitment, drive and leadership of public officials in promoting this financing instrument. A solid communication between public authorities and private beneficiaries, and public administration capacity for impact assessment and evidence-based policy planning are two other significant enablers of EPCs, that could foster this financing instrument across the EU.

Mots clés

  • energy efficiency
  • energy services
  • energy performance contract
  • energy policy
  • Romania
  • Germany
Accès libre

Public health management: life expectancy and air pollution

Publié en ligne: 26 Aug 2017
Pages: 111 - 120

Résumé

Abstract

Part of the National Strategy of Sustainable Development from Romania, life expectancy and air pollution indicators have an important role in establishing long term public health management strategies. International scientific literature within the field underlines the strong connection between air pollution and life expectancy. This research study focuses on the impact of greenhouse gas emissions, particulate matter air pollutants, ozone air pollutants on the length of life at 65 years old and life expectancy at birth of the population from Romania. The methods used for research are correlation and linear regression. Our results will be a starting point for further development of public health policies in developing countries, which mostly focus on socio-economic aspects, neglecting the negative impact of air pollution.

Mots clés

  • Public health management
  • life expectancy
  • air pollution
  • socio-economic development
  • developing countries
Accès libre

Sustainability of financial professional services through marketing strategy- an empirical research

Publié en ligne: 26 Aug 2017
Pages: 121 - 130

Résumé

Abstract

All types of companies providing financial professional services use, formally or informally, marketing principles and tools for the development of their business, in order to straighten their sustainability. By the end of 2009, in Romania, the financial professional services market has had a relatively constant and predictable development, the mandatory nature of these services being their most important promoter. This article presents the results of a survey aimed to highlight the impact of different marketing principles, techniques and tools on the sustainability of financial professional services in accounting and audit nowadays. The research is based on a questionnaire circulated to professionals with the relevant expertise in the financial-accounting domain. The number of responses obtained was considered meaningful, allowing the research results to be extrapolated to the entire studied population. The respondents, whose anonymity was respected, had multiple choice answers for most of the questions and also having the option of opened answers. The main findings of our research are a starting point in providing solutions to improve the sustainability of financial professional services through a coherent, innovative and effective marketing strategy.

Mots clés

  • marketing of services
  • sustainability
  • sustainable business
  • professional services
  • accounting
Accès libre

Finding optimal route in the Romanian natural gas network