Conferenza e Edizioni

AHEAD OF PRINT

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

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

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

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

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

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

Conferenza Dettagli
Formato
Conferenza
eISSN
2558-9652
Pubblicato per la prima volta
15 Dec 2017
Periodo di pubblicazione
1 volta all'anno
Lingue
Inglese

Cerca

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

Conferenza Dettagli
Formato
Conferenza
eISSN
2558-9652
Pubblicato per la prima volta
15 Dec 2017
Periodo di pubblicazione
1 volta all'anno
Lingue
Inglese

Cerca

112 Articoli
Accesso libero

Preface

Pubblicato online: 29 Nov 2019
Pagine: i - ii

Astratto

Accesso libero

Enabling factors for the competitiveness of the Portuguese automotive industry

Pubblicato online: 29 Nov 2019
Pagine: 1 - 12

Astratto

Abstract

The Portuguese automotive industry is a relevant activity sector for the Portuguese society and economy, both in job creation and value-added generation, contributing to the country’s economic development. The automotive is a high challenge industry, with intense competition, a high number of brands, increased number of models and vehicles, tighter regulatory requirements (e.g., emissions), and the need to manage global supplier networks. To succeed in such a highly complex and interconnected industry requires firms to be globally competitive since most of the production of this industry is destined for the rest of the world through export. This research aims to investigate the factors that contribute to value creation and competitiveness of the Portuguese automotive industry. Following the literature review of competitive advantage theories, quantitative research was done through an online questionnaire with Portuguese auto industry firms, to validate the proposed research hypotheses. The statistical analysis of the results, based on the application of descriptive statistics methodologies, principal components analysis, and correlation analysis, allowed to conclude that in this industry sector, the adoption of a strategy of differentiation/focalization and the external context influence value creation. However, it was not possible to conclude if the specific characteristics of the organization influences, or not, the creation of value. From the theoretical point of view, the conclusions demonstrate the relevance of the adoption of a strategy of differentiation and focalization and the external context for the competitiveness of these firms, supporting the assumptions of Porter’s Industry Based Theory and Generic strategies. From the practical point of view, the results highlight the importance of monitoring the external context and investing in research and development, brand image and market expertise, with the aim of enhancing the value creation and competitiveness of the components, tools, and services providers firms of the Portuguese automotive sector.

Parole chiave

  • automotive industry
  • competitive strategy
  • competitiveness
  • value creation
  • Portugal
Accesso libero

The Excellence as a Habit - The Thyroid Repair

Pubblicato online: 29 Nov 2019
Pagine: 13 - 27

Astratto

Abstract

The research shows in the first part that it is possible to maintain a very good state of the human being for a long time, almost continuously. This thing is highlighted using the values of the human being general balance, while the other values are in the optimal range. The measurements were performed by means of a Bio Well device. The tested subject was the first author of this article. Different techniques were used continuously to reach this important goal. Of course, this attitude can only lead to excellence in everyone’s activity domain and also, in general, in everybody’s life. The second part of the research refers to the human being’s possibilities to send energy to the energy cover of the body to improve the human being functioning. This thing is proved by the measurements made with the help of a thermo-vision camera. A short film was made to show the temperature increase at the level of the head skin during five minutes due to the energy arrived at that zone. The third part refers of the possibility of the human beings to repair themselves. The analysis of the thyroid energy level of the measured subject by means of the Bio Well device is presented. Because the thyroid was used a little too much to improve the optimization of the human being functioning, as presented in the first part of this article, the device shows a possible future danger. Immediate measures had to be taken. Due to successive measures, the subject succeeds in bringing his thyroid energy level to a normal one, without the help of medicines. All the three types of the measurements are very original, presented maybe for the first time in the world. The general purpose of the article is to show that we can do more than we believe about our health and our level of performance.

Parole chiave

  • Excellence
  • General body balance
  • Thermo Vision Camera
  • Bio Well Device
  • Thyroid
Accesso libero

National innovative performance and sustainable development – the case of Slovakia

Pubblicato online: 29 Nov 2019
Pagine: 28 - 37

Astratto

Abstract

Innovation are considered as the engine of sustainability and economic growth. Innovations are an integral part of the business that is expressed in scientific and research activities. If a company want to gain competitive advantage, it must do the business activities in accordance with economic, environmental, social and institutional factors. Business activities in this area are reflected in macroeconomic indicators of the country. This article deals with innovations and sustainable development issues. The main goal of research is testing interaction between innovations and sustainable development through the selected indicators. Summary Innovation Index (SII) represents innovations and sustainable development is represented by the set of indicators from four areas: economic, environmental, social and institutional. The analysis is based on values of the Summary Innovation Index proposed by the European Commission to measure the competitiveness of European countries in terms of innovation activity and values of sustainable development indicators such as GDP per capita, energy intensity of the economy, migration, transport performance, greenhouse gas emissions, application of environmental management system, mining and consumption of mineral resources, etc. The research is carried out on the case of Slovakia with application of mathematical-statistical apparatus (correlation analysis). The main benefit of research lies in the identification of strengths and weaknesses of Slovakia in analysed areas and determining the expected development.

Parole chiave

  • innovation
  • sustainable development
  • Summary Innovation Index
Accesso libero

Business excellence models in higher education – innovative solutions for management performance

Pubblicato online: 29 Nov 2019
Pagine: 38 - 46

Astratto

Abstract

The present challenging environment determines organizations to differentiate themselves from their competitors finding creative solutions. Business Excellence Models (BEMs) is the appropriate instrument for organizations to create authentic competitive advantages. In dynamic and changing environments characterized by technological changes, a sustainable advantage requires strong dynamic capabilities and integrated elements of BEMs. A comparative analysis of BEMS evolution presented in the paper reflects the challenges and opportunities for further improvement in organizations. Excellence models have been used successfully also in business education. Business education reflects the added value to sound economic development, balancing social and economic interest (Emiliani, 2004). In general, it refers to competitive and motivated academic staff, quality of teaching and learning activities, leadership and management commitment, sustainability of university-business relationship, internationalization strategy and comprehensive curriculum adapted to business environment. There are a lot of environmental forces in different national environments that are placing the excellence dimension on higher education agenda. At the same time, limitations of BEMs models and the nature of higher education institutions put a lot of challenges on leadership and management of these organizations. The objective of the paper is to present and analyse the application of excellence models in higher education institutions and identify creative solutions for management performance.

Parole chiave

  • business excellence
  • higher education
  • business excellence model
  • creativity
Accesso libero

Ways to create an effective positioning of Romanian universities through identity, image and promotion elements

Pubblicato online: 29 Nov 2019
Pagine: 47 - 55

Astratto

Abstract

The process of universities positioning, as a component of educational and university marketing consists of a synergetic system composed of all the marketing and management efforts of a university as an entity inside the educational market, materialized in identity, image and promotion elements that lead to the creation of a strong brand of the university and to contribute to the consolidation of a solid reputation. The present paper aims to address the topic of effective positioning of universities, as a tool of university marketing, in a Romanian and European higher education market with increasingly complex evolutions. Taking into account the tendencies in the field of education and university marketing (eg: competition between universities in Romania, but also at European and worldwide level), the authors consider that higher education institutions have to emphasize the various elements of identity, image and institutional promotion, because current or future bachelor students, master students and PhD students want to belong to some entities with prestige and reputation, in other words, with a strong image and identity to provide them with confidence and security. The paper considers an approach on three main components: the analysis of the stage of knowledge of the higher education field, an original marketing research research and the conclusions and solutions. The research consists of a quantitative marketing research applied among the Romanian high school graduating students, regarding their perception about different elements of identity, image and promotion of some important universities in Romania. The paper aims, as a fundamental objective, to provide results that can be integrated into the marketing strategies of the universities from Romania and Europe.

Parole chiave

  • educational marketing
  • university marketing
  • brand of the university
  • institutional identity
  • institutional image
  • higher education
Accesso libero

Towards Social Entrepreneurship and Sustainable Development in Lebanon

Pubblicato online: 29 Nov 2019
Pagine: 56 - 70

Astratto

Abstract

Faced with provocation emerged from sustainable development, several states, and in specific organizations and other related social performers, are asking their tasks and desire to take dynamic perspective to social accountability. In doing this, they are faced with sustainable development challenges. Entrepreneurship constitutes the business efforts of an individual or group for earning profit and ensuring economic empowerment, while social entrepreneurship involves the business activities with an embedded social purpose focused on sustainability rather than immediate outcomes. Entrepreneurship is an important factor of economy. The development of social entrepreneurship needs a structural adjustment in the society. The principal paper aim is to investigate the social entrepreneurship role in improving sustainable development. Also, the paper will examine social entrepreneurship as an effective tool in resolving social problems, noting that social entrepreneurship analysis can provide a response to sustainable development challenges. The research focuses on addressing the current state of social entrepreneurship, entrepreneurship indicators, pillars of entrepreneurship development, business environment and entrepreneurial opportunity and signifying the practicality of dissimilar business models developed in social entrepreneurship. Surveys were conducted on fifty different organizations (banks and audit companies) to collect data. Also, SPSS system was used to analyze the data gathered, to study the relationship between sustainable development and social entrepreneurship. Evidence suggests that social entrepreneurship can play a significant role for poverty reduction, ensuring employment, economic prosperity, environmental justice, pollution free ecology, good governance, reduction of terrorism, guarantee of peace, corruption control etc., thus offering opportunities to fulfill sustainable development goals in Lebanon. We can conclude that social business models develop a basic spread that grant social entrepreneurs to participate actively to sustainable development.

Parole chiave

  • Entrepreneurship
  • Sustainability
  • Development
  • Social
  • Ecology
  • Green Society
Accesso libero

Performance, Trends and Innovations in the Current Trade Sector Context

Pubblicato online: 29 Nov 2019
Pagine: 71 - 83

Astratto

Abstract

The commercial sector and especially the food trade in Romania have expanded more and more through the medium of hypermarkets-supermarkets, online commerce, etc. thus dominating the market. The turnover and profit they make are significantly increasing, while small and medium-sized businesses in stores and traditional stores lose customers, their market share is diminishing, profitability is low, and they are confronted with big financial problems. Modern trade tends represent almost 60% of Romania’s total market, which means that small shops are losing ground in detriment of others, despite their currently large number at national level. The study, extended over a period of more than 5 years, includes a comparative analysis of the small and medium-sized enterprises in the food commerce sector of Cluj County and the supermarkets-hypermarkets in Romania. Advantages of hypermarkets - supermarkets, online commerce, etc. in relation to small and medium-sized stores are ultimately reflected in the financial performance. Following the selection of 5 financial indicators, considered by the authors to be representative of the trade sector, and their comparative analysis, one can see the economic and financial situation these small and medium retail companies are facing, if they do not change their strategy. Their disappearance from the Romanian market would result in social and economic consequences and the discontent of a segment of the population.

Parole chiave

  • financial performance
  • food trade sector
  • hypermarkets
  • traditional smaller shops
Accesso libero

Contributions of social entrepreneurship to textile waste prevention in Romania

Pubblicato online: 29 Nov 2019
Pagine: 84 - 99

Astratto

Abstract

The current system for producing, distributing, and using clothing is putting pressure on resources, pollutes and degrades ecosystems. Nowadays, when disposed of, clothing still has at least 70% of its useful life left. A different approach to the way clothes are made, distributed and disposed of is needed. Prevention of textile waste is one angle to address these challenges and is being taken into consideration by the European public bodies. Reuse is increasingly recognized as a waste prevention measure, specifically addressed in 25 of the 33 waste prevention programs of European countries but national approaches to encourage reuse are, so far weak. Though in Romania it is estimated that textile waste will be produced mainly by households by 2025, knowledge about clothing reuse stakeholders and the mechanisms of exchange is scarce. Some activity is however developed by charities, acting as social enterprises. The primary goal of this research was to understand the role of social entrepreneurship in textile waste prevention by identifying clothing reuse practices and stakeholders in Bucharest, the Romanian city with the largest number of households in Romania (10% of the total of households). By gaining concrete knowledge related to the clothing reuse initiatives, in terms of number and characteristics, moving from identifying current clothing reuse practices and mechanisms of exchange to the type of stakeholders involved, either public or private, the research contributed to modeling the circular business ecosystem in Romania. The main research question concerned the degree of involvement of social enterprises in the development of clothing reuse activities, and therefore textile waste prevention. The findings revealed a high disproportion between the number of private and public clothing reuse initiatives, most of the activities being developed by charities which to some extent act as social enterprises. The results were intended to provide information to support decision-making bodies and communities in building up a functional clothing waste prevention plan through benefiting of existing knowledge from stakeholders in the field. These results also open the pathway to public-private dialogue for highlighting and scaling up existing textile waste prevention activities.

Parole chiave

  • textile waste prevention
  • clothing reuse
  • social entrepreneurship
  • textile waste
  • waste management
Accesso libero

Entrepreneurship Business Research Skills

Pubblicato online: 29 Nov 2019
Pagine: 100 - 111

Astratto

Abstract

In recent years area of entrepreneurship has gained significant attention nationally and internationally. It is one of the main skills priorities of national governments and EU council. Traditionally associated with commercial activity, entrepreneurship has gained traction as a key competence necessary to allow society as a whole to adapt to the changing economic climate. Small and medium sized companies (SMEs) greatly contribute to employment and wealth in Europe but there are limited studies into the specific skills needs required for SMEs into the future. Skills such as problem solving, critical thinking and entrepreneurship allow learners to adapt to changes, communication, digital skills and teamwork allow learners to collaborate and exploit technology in the changing workplace. Research is a key element of entrepreneurial success, but how these skills particularly workplace-oriented ones improve entrepreneurial culture has not been widely explored in the literature. This paper explores the importance of entrepreneurship today, the skills required to allow our society to become more entrepreneurial and identifies the potential of workplace research skills to develop entrepreneurial capacity in all facets of work, particularly within SMEs. The authors collaborated on many European projects aimed at improving work and education/training of entrepreneurs. The work presented int this paper resulted from surveys conducted within these projects regarding the problems SME staff have in connection with workplace transformation and entrepreneurship education and training. From this the paper proposes a conceptual model to facilitate the development of workplace research skills which will enhance entrepreneurial capacity in SMEs. The problems discussed in this chapter will also be used within the German initiative Mittelstand 4.0-Kompetenzzentrum with the participation of one author. Companies within this program are eager to improve their workplace research skills and change the learning culture and staff behavior in connection with digital workplaces.

Parole chiave

  • Entrepreneurship
  • Business Research Skills
  • Eentrepreneurial capacity
  • Growth oriented SME business
Accesso libero

The influence of consumer protection on the satisfaction of airline passengers

Pubblicato online: 29 Nov 2019
Pagine: 112 - 124

Astratto

Abstract

In a society in continuous development, air transport is no longer a luxury, but a means of transportation for everyone. As a result of rising living standards, reducing the cost of air travel compared to other means of transport, more and more people prefer to travel by air even at short distances. The steady increase in popularity and accessibility of air transport has led, in some cases to a decrease in the quality of services provided by air transport companies and in violation of consumer rights. The evolution of consumer protection has influenced positively the quality of air transport services by imposing certain obligations and offering a very high level of security, which increases passenger satisfaction. This article aims to quantify the passanger satisfaction and how the rights and interests of travelers in Romania are protected. In this respect, the authors carried out a quantitative research done among consumers of air transport services. Through a quantitative exploratory empirical research, 110 people were interviewed. The results obtained have made it possible to determine the extent to which the airline they have called upon, succeeds in meeting their expectations and satisfying them, and their rights have been respected. At the same time, passengers’ perception of the quality of air services were also quantified. Based on the results, the authors make some recommendations to airline companies’ management: to develop effective strategies to protect the rights and interests of travelers, to permanently identify the needs of the actual customers.

Parole chiave

  • consumer protection
  • air transport services
  • air quality
  • passenger rights
  • quantitative research
Accesso libero

The Role of InteractiveTeaching Strategies in Business Education: Challenges for the 21st Century

Pubblicato online: 29 Nov 2019
Pagine: 125 - 133

Astratto

Abstract

In contemporary context, broad innovation in the education domain through the use and capitalization of interactive teaching strategies in the educational-training process can only help improve the teaching and training of younger generations in order for them to adapt and achieve performance in line with labour market challenges. The role of teachers as tutors that shape destinies towards performance and success is essential in a modern and complex society. Worldwide, training intelligent and fascinating young people is a challenge today. Success arises from the ability of teachers who have to form younger generations not to memorize and repeat information, but to build a space that is adequate for a harmonious development of excellent people who guide themselves in life according to moral values and principles. The study rely on a qualitative research, conducted on a sample of convenience, consisting of 56 respondents (students at a Business School from Bucharest, Romania). The research question raised at this point is: What is the role of interactive teaching in the educational-training process? The purposes of this study are: 1). to highlight the importance of using interactive teaching methods in business education; 2). to present the main aspects for achieving an effective didactic communication; 3). to highlight the importance of education as a means of investing in human capital; 4). to emphasize the way in which New Information and Communication Technologies influence the educational-training process; 5). to present the qualitative research findings.It was found that interactive teaching has a great importance for the whole interactive -teaching process. The ideas mentioned by the young respondents surprisingly render the issue of digitization and its effects on the educational-training process.The topic of this paper is interesting and its original content provides information for further researches in this area.

Parole chiave

  • business education
  • teaching methods
  • intellectual capital
  • interactive teaching
  • higher education
Accesso libero

The role of strategic agility in the IT sector

Pubblicato online: 29 Nov 2019
Pagine: 134 - 148

Astratto

Abstract

As we are living in a world governed by technology, the society becomes step by step more digitalized. The IT sector is now rooted both in our personal and professional lives, removing physical boundaries. Given these facts, the aim of this paper is to present an analysis of how strategic agility works hand in hand within the IT industry. Strategic agility represents a trigger for growth in this industry, contributing to its expansion and strategic business direction as part of the business environment. Thus, the objectives of the current paper are three-folded, namely: (1) what does strategic agility stands for in the IT industry; (2) how strategic agility is achieved within IT sector (3) which business areas of IT companies are impacted by strategic agility. In the journey of covering all these points, we will use mixed research methodology. The qualitative research contributes to a deeper understanding of the role strategic agility plays in the IT business. This section of the paper screens the targeted concepts of the research, acknowledging the challenges and opportunities triggered by strategic agility. The quantitative research method represented by a survey highlights through primary collected data a real case analysis of the IT industry. Various stakeholders operating in this industry bring their input to the development of this scientific paper, their opinion being sketched with the support of structured set of opened and closed questions. The findings of this research are collected and analyzed to mirror the significance of strategic agility as part of the IT industry. The paper aims to cover all the listed objectives, raising awareness of how technology is a vital strategic pillar of the business environment. Such results enhance our capacity of future value creation, enabling new opportunities for growth and innovation.

Parole chiave

  • strategic agility
  • IT
  • performance
  • strategy
  • change
Accesso libero

Stress and scenario tests in the context of a Romanian non-life insurance company

Pubblicato online: 29 Nov 2019
Pagine: 149 - 161

Astratto

Abstract

The main aim of the article is to assess the vulnerabilities and resilience of a Romanian non-life insurance company in the context of different predefined insurance stress scenarios: natural catastrophe scenario and business scenario. The natural catastrophe scenario consists in two distinct scenarios: earthquake and flood, which were carried out separately and aggregated based on three stress factors: increasing by 15% of PML, increasing by 5% of the gross best estimate claim provisions and reinsurer’s incapacity to pay. The business stress scenario was based on four stress parameters: increasing by 3 % of the claims provisions due to the inflation impact, increasing by 10% of the gross earned premium for MTPL due to the legislative changes, increasing by 15% of the claims provisions for MTPL due to the increase of frequency and severity of the losses induced by the exposure growth as a result of the lower premiums and decreasing by 10% of the ceded best estimate. The results of the stress testing shown that the insurer is more sensitive to business scenario compared to natural catastrophe scenario due to the significant exposure on the MTPL line of business. High exposure to earthquake risk is a characteristic for Romania and the stress testing results confirm the vulnerability of the insurer to the earthquake scenario (non-compliance of the solvency capital requirements), due to the biggest impact of the factor: reinsurer’s incapacity to pay. Therefore, the quality of reinsurance is very important for Romanian insurance companies to be able to manage the risks arising from the seismic events and to be compliant with the regulatory solvency capital requirements.

Parole chiave

  • Solvency II
  • non-life insurance
  • stress and scenario tests
  • SCR
  • MCR
  • own founds
Accesso libero

Operational risk assessment at investment funds level

Pubblicato online: 29 Nov 2019
Pagine: 162 - 170

Astratto

Abstract

The operational risk has been analysed quite recently, both by the academic environment and by financial entities in their practical activity. This new risk has recently been introduced into the “solvency models” provided by the Capital Requirement and Solvency legislation. The “solvency models” are absolute assessment models and are based on the idea of determining an optimal solvency ratio between the level of potential losses associated with the risks a financial entity is exposed to and the level of own funds it holds. Below this optimal ratio it is considered that, in the event of a materialization of the risk, the entity will go bankrupt. In the financial industry there is also a category of financial entities that legally cannot go bankrupt, at worst they may be affected by a galloping decapitalization. This category includes investment and pension funds. Due to the fact that investment and pension funds are managed externally, the operational risk originates at the level of the manager and produces its effects on the assets held by the fund, namely on the unit value of the net asset or on the value of the net asset in case of decapitalization. In order to assess the operational risk of the funds, different approaches to Capital Requirement and Solvency should be applied. In this respect, the classification of funds according to the level of risk to which they are exposed can be done through relative assessment models, and the determination of the loss amount caused by the operational risk can be done by indirect methods. Such relative risk assessment models can also be used by financial/non-financial entities that have legal personality, as a mechanism for controlling absolute assessment models, or as a stand-alone assessment methodology if there is no regulated methodology.

Parole chiave

  • operational risk
  • investment fund
  • pension fund
  • investment funds manager
  • solvency models
Accesso libero

The impact of lending on bancassurance activity

Pubblicato online: 29 Nov 2019
Pagine: 171 - 181

Astratto

Abstract

Due to financial crisis, and especially because of prudence in lending (retail, micro, and corporate), banks are looking for new sources of income, and bancasurance is clearly a potential source of revenue. Thus, in the financial market, the interests of two major components of it are met: banks maximize commission income, and insurers make access to the large customer base of banks. Bancassurance is a distribution channel of insurance products through bank branches, bringing important advantages for banks, insurance companies and customers. The main advantage for the bank is that earns fee amount from the insurance company, the insurance company increases customers data base and market share, the client satisfy his financial needs and requests in the same institution. Considering that in Romania, banks and insurers do not provide information on the number of insurances sold via the bancassurance distribution channel, as well as commissions obtained by banks for the insurance sale, to determine the development of bancassurance in Romania, we used the statistical data provided by the National Bank of Romania, on credit growth and data provided by The Financial Supervision Association, on the evolution of gross written premiums. Bancassurance is one of the most important insurance distribution channels, accounting for approximately 36% of the global insurance market, in 2016, Europe’s insurers generated total premium income of €1 189bn and had €10 112bn invested in the economy. Regarding to the risks of bancassurance business for banks and insurers, they mainly concern distinct capital requirements for the banking and insurance systems, which will be covered by the Basel III and Solvency II directives. This paper aims to analyze the influence of credit on the bancassurance activity in the last 5 years in Romania, the economic, political and legal factors that have a negative impact on the development of bancassurance, and also the calculating the correlation coefficient r (Pearson’s coefficient) and his result.

Parole chiave

  • bancassurance
  • loans
  • insurance
  • gross written premiums
  • credit risk
  • Pearson coefficient
Accesso libero

A Comparative Analysis of Crowdfunding in Poland and Romania

Pubblicato online: 29 Nov 2019
Pagine: 182 - 193

Astratto

Abstract

Given the difficulty to access traditional bank funding by creative businesses and start-ups, crowdfunding as an alternative way to finance innovative and creative projects has been adopted, enacted and successfully used by several Western countries, which can serve as best practice examples. However, in many countries crowdfunding is still an emerging phenomenon due to its novelty and variety, the general awareness regarding this alternative funding method being relatively low. The aim of this paper is to investigate the extent to which Poland and Romania, the two largest Central and Eastern European member states, have adopted and used crowdfunding to support innovative and creative projects and to assess the sustainability of such a novel funding method in the respective countries. The objective of the comparative analysis is to determine how the existing legal framework supports the implementation of crowdfunding activities and what crowdfunding types are being used in each country based on the existing local crowdfunding platforms, to identify and explain the main strengths and weaknesses of each of the two markets, as well as to provide a set of measures and proposals that can be adopted by the two countries in order to promote and enhance the crowdfunding phenomenon, which we argue is a factor that ensures business sustainability in creative and innovative activities carried out especially by start-up companies. Apart from the empirical analysis of legislation and platforms, the research methodology includes a survey among business students and fresh graduates of business schools, the purpose of which being to assess the level of awareness of young entrepreneurs-to-be regarding this funding method.

Parole chiave

  • crowdfunding
  • start-ups
  • creative industries
  • Poland
  • Romania
  • crowdfunding platforms
Accesso libero

Value management in Blockchain technology related projects

Pubblicato online: 29 Nov 2019
Pagine: 194 - 205

Astratto

Abstract

Because of the development of Bitcoin in recent years, the foundational technology behind it, the Blockchain technology, also begins to attract attention from international banks and companies, and entrepreneurs have developed Blockchain technology related projects not only in financial industries but also other industries. In this dynamic information economic environment nowadays, high-tech economic projects based on Blockchain are very important, and when it comes to the value management more factors have to consider. The research of value management is a long-term subject that brings benefits to projects and the analysis with Blockchain projects is very helpful for start-ups, entrepreneurs as well as stakeholders. The purpose of this study is to analyze the relationship between Blockchain technology projects and value management, and find better ways of value management in Blockchain projects.

Parole chiave

  • value management
  • Blockchain projects
  • decentralized autonomous organizations
  • value added
Accesso libero

Seeking freelancers’ motivations to adopt an entrepreneurial career – a storytelling approach

Pubblicato online: 29 Nov 2019
Pagine: 206 - 215

Astratto

Abstract

The article focuses on worldwide freelancers’ stories as explanatory resources in understanding their reasons to embrace or not an entrepreneurial career in the future. It draws upon a qualitative study related on the motivations, benefits and risks of moving from freelancing to an entrepreneurial career, where participants to the survey freely expressed their perceptions, based on their genuine experiences. Data collected during the online survey have been analyzed with NVivo12 software. This qualitative analysis software allowed us to cluster the narratives of freelancers, based on the similarity of words contained in content, on the one hand, and provided a deeper understanding of sentiments related to freelancers’ intention to turn entrepreneurs, on the other hand. Following two principles: „No need to invent or reinvent yourself” and „Real life truths have the most impact”, freelancers who accepted our invitation to the survey highlighted their visions regarding the future career paths, providing an approach to understand their choice to become or not entrepreneurs. Freelancers’ career path can be more comprehensively described, understood and communicated using their stories, so storytelling has been considered the single methodology appropriate to this study objectives. Practical implications of this qualitative research, its limitations and further research avenues are also highlighted.

Parole chiave

  • freelancing
  • entrepreneurship
  • career development
  • storytelling
Accesso libero

Creative and cultural industries in Europe – case study of the performing arts in Romania

Pubblicato online: 29 Nov 2019
Pagine: 216 - 226

Astratto

Abstract

Culture is one of the most important aspects of being human alongside education. A very interesting way of approaching the issue of culture is understanding the importance of the art in everyday life. Alan Peacock, one the first pioneers of the term cultural economy, was a man of the arts who understood the importance of culture, not only in life, but in economy. Many writers in the 1960s identified some opportunities in engaging in the cultural and arts industries. As we know, cultural goods have an economic value and an artistic value. The evaluation of artistic goods or products is made only after it is consumed by clients or customers. The world of cultural services is large and forgiving with non-professionals. The use of cultural policies in today’s European Union, United States of America and Asia is very important because of the positive spillover it causes. Creating cultural policies and dedicating funds specifically for this started in the 1980s with the implication of UNESCO. Cultural policies not only help preserve cultural sites and heritage, but offers a broader strategy that envelops both cultural goods and cultural services. The cultural marketing concept refers to the art of using marketing tactics and strategies in order to promote and develop the cultural and artistic industries or sectors. The same instruments are used but the way in which they are used is very different. The performing arts sector is ever changing and it needs a new marketing mix approach to connect to new audiences. Artists need to work closely with business and management professionals in order to have the best representation off stage.

Parole chiave

  • cultural marketing
  • economy of arts
  • marketing mix
  • cultural policy
  • cultural services
Accesso libero

Integrated Reporting Framework Application: A European Case Study in the Financial Sector

Pubblicato online: 29 Nov 2019
Pagine: 227 - 240

Astratto

Abstract

The ongoing academic debate about Integrated Reporting (IR) outlines that a particular interest shall be accorded to the financial sector organizations. Furthermore, previous researches in the field of an IR demonstrates the need of further research in the developing the actual knowledge of the advancement and implementation of IR and how are companies applying the guiding principles given by the framework. Therefore, this research aims to analyze to what extent European Union financial sector organization are following the IIRF guidance. Using a sample of 140 annual reports, a manual content analysis has been employed to identify the compliance evolution of financial sector organizations towards the IIRF contents elements, for the period 2013-2017. Results reveals the attention given by financial organisations, toward the “Organisational Overview”, “Risks & Opportunities” and “Business Model” content elements of IR. While the categories that remain unforeseen are “Performance & Outcomes”, “Other Elements” but the problematical category is “Future Outlook” with the lowest disclosure degree.

Parole chiave

  • reporting
  • integrated approach
  • integrated reporting
  • IIRF
Accesso libero

The Enterprise Risk Profile Model and Its Implementation in Reorganised Companies

Pubblicato online: 29 Nov 2019
Pagine: 241 - 253

Astratto

Abstract

Globalization, as a response to the accelerated developments in recent decades, has shifted the world economy to a direction in which the adaptation to uncertainty conditions has been one of the most important manifestations of rational behavior. Human activity has always been subject to risks and uncertainty, and environmental pressure naturally generates selection and adaptation. The risk profile analysis in insolvency proceedings, as an indicator of managerial and financial health, represents a challenge to complement the gaps in the literature, given the limited studies in the field, compared to the bibliography in the field of risk management, for the companies in the economic circuit. This topic is of major importance for all business environments, having in view the disasters generated by economic crises on companies. In terms of judicial reorganization and insolvency proceedings, the situation in Romania proves to be different from the practices in the countries with tradition in this field and we are referring here to the USA, Germany and France. Comparative studies have indicated dysfunctions in the reorganization procedures in Romania, related to the lack of a coercive system to remove the insolvency debtors from the economic circuit, and the lack of models for analyzing the reorganization capacity of companies in insolvency proceedings. Regarding a possible reorganization of a company, creditors do not have approved analysis models in order to vote on reorganization plans and most of the time, at least as far as public creditors are concerned, their vote is negative and unfounded. The purpose of this research is to generate a model of internal risk analysis specific to the companies undergoing insolvency proceedings and of external risks related to the activity sector, a model able to predict the possibility of reorganizing a company undergoing insolvency proceedings. The main tool used is the interview, conducted on a sample of insolvency experts in Romania, with an average experience of approx. 10-20 years in insolvency and reorganization activities. Based on the analysis of the obtained results, we will refine and restructure a model, and then we will test it on a sample of companies undergoing insolvency proceedings.

Parole chiave

  • insolvency proceedings
  • judicial reorganization
  • risk profile analysis
  • business sustainability
  • reorganization decision
Accesso libero

Modifying the organisational culture in order to increase the company’s level of sustainability

Pubblicato online: 29 Nov 2019
Pagine: 254 - 267

Astratto

Abstract

Changing the business behaviour by prioritising sustainability was proved to be an intelligent solution to social, environmental, as well as economic issues. Adapting to the principles of sustainability must begin with modifying the visions, values and beliefs typical of the economic entities, given that these elements form its organisational culture. Therefore, the concept of sustainability can be integrated in the company’s strategy by changing the organisational culture. Given these points, a study was conducted within twenty-eight organisations from the Republic of Moldova with the objective of identifying the optimal organisational culture pattern for increasing the level of sustainability. The first part of the research implies elaborating a suitable way to compute the global performance of an entity which entails economic, social and environmental performance. To realise a comparative analysis of the results obtained by the companies, was proposed a classification method in 5 performance categories, based on which their sustainability was appreciated. Quantitative research is based on the method of questionnaire, which was applied to a number of 300 employees from the same companies. The organization culture was analysed according to the Competing Values Framework (CVF) by Cameron and Quinn (2011), which is one of the most influential and extensively used models in the area of organizational culture research. The findings show that in the analysed companies dominates hierarchy type of organizational culture. However, the study emphasises the fact that companies with a higher sustainability level scored significantly higher on clan, adhocracy and, market cultures, while the hierarchical is lower. The obtained results prove that organisational culture is a factor which has a considerable impact on the company’s sustainability. Adopting a sustainability-oriented organizational culture can make a major contribution in creating long term success in organization.

Parole chiave

  • corporate sustainability
  • measurement of sustainability
  • organizational culture
  • cultural model
  • competing values framework
Accesso libero

The impact of the European Directive 2014/95/EU on the energy companies’ disclosures

Pubblicato online: 29 Nov 2019
Pagine: 268 - 276

Astratto

Abstract

Even though the sustainability reporting is voluntary, companies are increasingly adopting it. There is a multitude of reporting standards used by companies in this regard. Along with the voluntary guidelines, in 2014 was adopted a European Directive which became mandatory for a set of companies. Our research question is which are the changes brought in the reporting of the European companies by the Directive? In doing this, we focus on the energy companies. We selected them because they are environmentally-sensitive. We selected the European energy companies which included a report for last year in the GRI’s database. We downloaded the reports published by the sample companies in the period 2014 – 2017. We selected 2014 as a starting point because it is the year in which the Directive was approved. We selected 2017 because it was the first year in which the ED 2014/95/EU became mandatory. First of all, we extracted the words used in the Directive for writing the names of the indicators. Using NVivo Pro, we searched for the indicators in the selected reports. By analyzing the core indicators for the energy domain, we pursued to identify the sample companies’ commitment to sustainability. The contribution of our study is that it provides an insight into the Directive as a driver which influences the sustainability reporting.

Parole chiave

  • energy
  • sustainability reporting
  • Europe
  • key performance indicators
Accesso libero

New Methods to Increase the Human Balance and Self Control

Pubblicato online: 29 Nov 2019
Pagine: 277 - 287

Astratto

Abstract

Chaos is unfortunately for humans a characteristic of the modern world. It can be seen at all levels. Each individual can abuse permanently in order to succeed in doing different things. These abuses address the own person but also other persons. The abuses reach then through stress and other ways the level of everybody’s health and state. To counterbalance these general tendencies, the authors propose an easy and original method to increase the human general balance. This method is called the method of the wire stretched slowly. It usually increases the general human balance to a level over 99%, but it also contains the possibility to bring the soul of the physical body to its stable position. The measurements show also that all the other parameters are in the optimal zone. The authors also prove with a second set of measurements made by a Bio Well device that we can control the positions of the main energy centers to increase our own self-control. The Bio Well device uses the gas discharge technique to develop the aura visualization. This time the subject, who is the first author of this article, changed his yang and yin at his own desire. He succeeded in moving the position of his first energy center, the lowest of the seven centers, as he wanted. All the measurements are presented maybe for the first time in the world. They are designed in general to show that we can take more care about us, in terms of energy and health, without seeing to doctors. They lead also to an improved physic and psychic state, wanted by everyone. The control of the position of an energy center refers also to the control of the general equilibrium of the body. Of course, these things are very useful in general behavior leading to business excellence and not only.

Parole chiave

  • Human body balance
  • Bio Well Device
  • The first energy center
  • Yang
  • Yin
Accesso libero

The Carbon Dioxide Clathrate Disposal in a Pit near Japan

Pubblicato online: 29 Nov 2019
Pagine: 288 - 297

Astratto

Abstract

The research purpose is to present the possibility to deposit the carbon dioxide clathrate at the ocean bottom near Japan. As it is well known, a big amount of CO2 is produced nowadays, with a very damaging influence on the climate. These effects can already be seen all around the world. A possible solution to get rid of the CO2 surpluses is to liquefy it, transform it into carbon dioxide clathrate and send it through pipes at very low levels into the oceans or seas, where its density is bigger than the salted ocean water density. Theoretical ideas are presented at the beginning. An analytical method is used to calculate the carbon dioxide clathrate pressure at the exit of the pipe and also the pressure at a certain depth into the ocean. Because the carbon dioxide clathrate density and the sea water density are variable at different depths, an integral calculus must be done. The authors also calculated the flow rate through the pipes and the time needed to deposit the clathrate at the bottom of the ocean. The volume of the pit is also determined. A particular calculus is made in the case of the Ryukyu pit near Japan. It has steep slopes and the depth reaches around 8000 meters. The location was chosen because, in the case of Japan, high amounts of CO2 are produced. Hurricanes cross this country. Therefore, we suppose that large interest can appear for such a solution to change the climate even locally. Depending on the previous parameters, one can analyze the opportunity for the practical deposition of the carbon dioxide clathrate in the respective pit with a further economical calculus. The calculus which uses the prices in Japan can estimate the cost to liquefy the CO2 and to send it to the bottom of the ocean as well as compare it with other methods to reduce the CO2 quantity in the atmosphere.

Parole chiave

  • Global warming
  • Carbon dioxide clathrate
  • Ocean pit
  • volumetric flow rate
  • Japan
Accesso libero

Study on the Factors that Determine the Success of ERP Implementation

Pubblicato online: 29 Nov 2019
Pagine: 298 - 312

Astratto

Abstract

The world boundaries are broken with the advancement of technology and the emergence of digitized industries where economies are connected via the cloud. As a result, effective management of information internally and externally is needed to cope with the quick changes in markets. For a long time, Enterprise Resource Planning (ERP) systems have been used to streamline company processes data, and hierarchy. ERP’s are capable of managing big data, integrating business processes and providing effective communication channels within the entire organization. ERP’s provide many benefits to businesses if implemented right. However, an alarming 70% of ERP implementations fail. The failure can very well bankrupt the organization and at the same time affect the vendors very negatively. The aim of this paper is to discuss the critical success factors in ERP implementations from the employees, management, consultants and vendors perspectives. Prior research has identified critical success factors for ERP implementations but none classified them according to the above perspectives (employees, management, consultants and vendors). Surveys were conducted with 60 ERP project participants including senior managers, employees and vendors. A regression analysis was made to investigate the relation between the success of ERP implementations (dependent variable) and the contributions of employees, management, consultants and vendors (independent variables). The study shows that there exists a positive relation between successful ERP implementation and the following: management support, employees’ motivation, training, management, vision, and professional consultants. Add to that, the study aids managers and ERP participants to identify the major success factors that must be implemented for the objective of having successful ERP deployment.

Parole chiave

  • ERP Implementation Success
  • Critical Success Factors
  • Strategy
  • Management
Accesso libero

The role of management accounting systems in sustainable and development strategies

Pubblicato online: 29 Nov 2019
Pagine: 313 - 325

Astratto

Abstract

The cycle of corporate measures in line with consideration of apprehensions related to supportable progress and communal and environmental accountability broadens the constraint of routine measurement to take into justification social and environmental gauges. The role of management accounting, historically orientated toward the dimension of economic and financial performance, is consequently questioned in its capacity to evolve towards an integration of these standards into the dimension, management and performance reporting fashions. Environmental control Accounting may be understood as an extension of outmoded management accounting (Anthony 1988, Simons 1995) toward environmental control (Boiral 2007, Renaud 2009). Conversely, several pieces of research tend to indicate that, some distance from integration, we’d rather witness phenomena of loose coupling among monetary, environmental and social performance systems. Management accounting could then be refocused on management and reporting of economic and economic overall performance, even as different functions of the enterprise might be in charge of the social and environmental dimensions of overall performance. This can be seen as an instance of Brunsson’s (1989) thesis on organizational hypocrisy. The purpose of this paper is to look at the position of management accounting structures in sustainable and development techniques. Specifically, it is a concern of interrogating closely the speculation of a decoupling that would bring about the focusing of control accounting systems on the sole scope of financial and economic measures and reporting. The study will use a survey method of quantitative research to examine the impacts of the inclusion of environmental and social dimensions to the management accounting basic functions. It will engage workers of entities working in Lebanon. A survey will examine management accountants’ perceptions about the Environmental Management Accounting. The results will show the possibilities of actions of the environmental management accounting and the arbitration between financial priorities, environmental and social issues and will propose different configurations of environmental management accounting.

Parole chiave

  • Environmental Management Accounting
  • Social and environmental responsibility
  • Management Accounting
  • Reporting
  • Arbitration
Accesso libero

Major Challenges and Barriers to IPSASs Implementation in Lebanon

Pubblicato online: 29 Nov 2019
Pagine: 326 - 334

Astratto

Abstract

The need for greater accountability and transparency in government and private institutions handling funds and resources reporting was heightened by the global financial crisis that led to reduced resources available for both the government and private sector. This led to the introduction of an accounting and auditing system known as International Public Sector Accounting Standards (IPSASs) that will help to track all transactions hence ability to maintain transparency and accountability while reporting financial statements. However, the implementation of the IPSASs guidelines in most countries has been faced with a lot of barriers. Therefore, the purpose of this report is to determine some of the challenges facing the implementation of IPSASs in Lebanon. The study deploys quantitative descriptive study design and the primary data gathered using a semi-structured questionnaire from 100 public accountants and financial system managers. The data collected has been analyzed using SPSS to get frequencies and percentages which have been presented in tabular form. The findings indicate that the level of IPSAS awareness in Lebanon is higher, however, the full implementation of the IPSASs guidelines is still facing a lot of barriers. The principal obstacles that have come out clearly from the study findings included lack of government support, the high cost of implementation, resistance to change and lack of better understanding of the significance and operation of the IPSASs tool. The study has recommended that IPSASs be incorporated in college and university curriculum, the government to fund the implementation of IPSASs in all listed organizations and government departments and strengthen regulatory bodies to ensure that all accountants and auditing organizations in Lebanon comply with IPSASs guidelines.

Parole chiave

  • IPSASs
  • IPSASs Implementation
  • Accountability and Transparency
  • Lebanese Public Accounting System
  • Barriers
  • And Challenges
Accesso libero

The study of Accountants Perceptions of Different Security Systems Adopted in the Public Accounting Sector in Lebanon

Pubblicato online: 29 Nov 2019
Pagine: 335 - 346

Astratto

Abstract

Public Accounting is one of the very rising sectors in the industry. The aim is to produce bulk of financial information that can be further used for making informed decisions by the stakeholders. The wrong information or might jeopardize the involved businesses and thus it is necessary to protect this sort of information from outside and vulnerable attacks. As, the transparency and accountability of financial statement is very crucial for the stakeholder’s trust as well as the investment, the security of financial information is very essential for the relevance, validity, and reliability of the financial data. However, there is always a lingering risk of security breaches such as brute force attacks to get the information. The main focus of this paper is to examine the security systems and the strategies used by the public accountants in Lebanon to secure the financial data and relevance of financial reports. To carry out this study a quantitative methodology was applied and a survey was conducted with a representative sample of accountants, who are currently employed in the Lebanese governmental sector. The survey questionnaire was prepared to measure their perceptions regarding the security of the public accounting in Lebanon and to also evaluate their efficiency in protecting the data as well as detecting threats. The research conducted is likely to determine the quality of financial data protection in public accounting in Lebanon and suggest possible solutions in increasing security. As, the security measures are an integral part of the IPSAS implementation process this study highly contributes to both the theory of the IPSAS adoption and the practice of aligning local accounting practices in accordance to the international standards by doing exorbitant efforts to strengthen the security management in Lebanon’s Public Accounting Sector.

Parole chiave

  • Information security
  • security protection
  • information leakages
  • public accounting
  • IPSAS
  • IPSAS implementation
  • Lebanon
Accesso libero

Understanding the internet banking adoption factors in the Romanian market

Pubblicato online: 29 Nov 2019
Pagine: 347 - 360

Astratto

Abstract

Online banking services create a way to reduce costs, attracting new segments of population and growing the bank performance and improvement of services. Client’s satisfaction is the main benefits of the banks. The aim of the paper is to investigate and to analyze the factors that influence the adoption of internet banking system in Romania. One of the problems faced by consumers using Internet banking is confidentiality. This makes security in transactions to be essential. For this, the main objectives are: identifying critical factors that contribute to the acceptance of internet banking system and the link between them and also identifying the demographic factors that influence the adoption of this system in Romania. The data collection was done by a quantitative research using the questionnaire method as a survey tool and it was made up of questions measured using the Likert scale. It contains variables based on the construct’s relevance to Internet Banking. All assumptions about the relationship between dependent variables and independent variables are developed and tested using multiple reliability, validity, and regression. It was used a statistical software and with it were analised 6 independent variables, named social influence, perceived ease of use, perceived usefulness, perceived risk, perceived confidence and intention to use Internet banking. The attitude toward using Internet banking system will be the dependent variable. To verify the acceptability model’s validity, it was used the Structural Equations Model. The results are partly supported by the developed hypotheses and are presented after the reliability test where Cronbach’s Alpha is calculated suggesting the internal reliability of the consistency for the scale. The significant effect that influences the attitude toward using Internet banking system is represented by the perceived usefulness, the perceived risk, the perceived confidence and the intention to use internet banking.

Parole chiave

  • online internet banking
  • e-banking acceptance research
  • digital transactions
  • technology acceptance model
  • internet banking in Romania
Accesso libero

Impact of ERPS on Organizations’ Financial Performance

Pubblicato online: 29 Nov 2019
Pagine: 361 - 372

Astratto

Abstract

In accounting, enterprise resource planning system is the database software package for supporting all corporations’ operations and processes such as marketing, human resources, finance, manufacturing, and several others. ERPS stores different forms of data for various computerized functions in a single database, user interface, and application. Although ERPS were initially utilized by huge manufacturing corporations, they are currently used by all sizes of businesses. Therefore, there is a need to identify the performance advantages that businesses gain from ERPS together with its impact on the performance of a firm. The goal of the research is to offer insights regarding the implementation of ERPS and their influence on organizational performance. The study will determine the benefits of ERPS, identify if there is a reliable or valid performance measurement system that connects ERPS to the performance of the organization, identify if ERPS have a positive effect on the performance of a company in the time periods after implementation and finally set the success factors accountable for the ERPS benefits. Accordingly, the study will establish the effect of ERPS on the performance of a company. The study will be a quantitative research where questionnaires will be used to collect the primary data. Purposive sampling will be used to obtain 50 answers from accounting experts so that to evaluate the effect of ERPS on financial performance and auditing of Lebanese firms. Moreover, financial performance indicators will be used to assess the overall company performance together with supply-chain operations. Quantitative analysis of data will be done through the use of SPSS based on the research objectives.

Parole chiave

  • ERP
  • financial performance
  • accounting and finance
  • competitiveness
  • management efficacy
Accesso libero

Investigating how online shopping platform users contribute to improving the businesses’ performance: empirical evidence from Romania

Pubblicato online: 29 Nov 2019
Pagine: 373 - 384

Astratto

Abstract

The purpose of this paper is to identify how online shopping platform users in Romania influence businesses’ performance. The emergence of e-commerce has led to a revolution in global commerce by diversifying and improving sales and purchasing actions for existing products and services on the market. In Romania, buyers’ behaviour shows a more restraining of online commerce behaviour. Most sales are still registered according to the classic system of physically going to stores, although the number of online users has grown significantly over the last decade. The reluctance of buyers to buy from the online environment leads to the low performance of companies in the e-commerce market. The hypothesized model is empirically tested using data collected from a survey on Google Analytics platforms of some online companies in Romania. The authors used SPSS Software to examine the reliability and validity of the measurement model. There have been analysed various links between some variables that were obtained from Google Analytics, data that were collected by age groups, gender or geographical area. Through an empirical analysis is being analysed the role of tracking data on the websites in order to improve company performance. By analysing those variables, the authors analysed if the number of sessions acquired, the bounce rate of the acquired visitors or other variables can improve the company performance. This study offers a new perspective on company performance in online firms. The analysis of variables describing user behaviour in the online environment in interaction with e-commerce platforms has led to conclusions about the performance of online companies. The theoretical contributions and managerial implications of the study are discussed.

Parole chiave

  • company performance
  • industrial services performance
  • online business performance
  • online services
  • business digitization
  • e-commerce
Accesso libero

Online business networking experience research on ecommerce entrepreneurs

Pubblicato online: 29 Nov 2019
Pagine: 385 - 398

Astratto

Abstract

In a globalized economy, marketing performance is needed in order to be competitive and also for being successful on the market. Currently entrepreneurs have access to a big variety of tools and also the increase of networking platforms can help ecommerce entrepreneurs to gather a lot of useful information and know-how for improving their businesses. Our main objective is to identify which are the most important needs of ecommerce entrepreneurs in order to communicate with other business owners activating in the ecommerce industry. The secondary objective is to identify what features an online networking platform should have, so it can become an important tool for growing the marketing performance of each member using the networking platform. The research was made using a focus group composed of 15 participants. All participants are business owners who manage at least one online store, selling goods in the local or international market for at least 3 years. The results of the qualitative research made, were that entrepreneurs who are trying to establish a new business partnership, use classical forms of communication, such as email, phone calls, meetings but they believe that online communication would be beneficial for their business because it can be less time consuming and more efficient for finding new business partners or relevant know-how. We discovered that entrepreneurs wish to learn from the practical experience of other business owners to improve the marketing performance through innovation and creativity. The research conducted has identified the key elements of a business networking platform for entrepreneurs. The main elements required include privacy, security, sharing relevant know-how and elements that can create an efficient collaborative environment. We also discovered that local entrepreneurs do not use or know a business networking platform that meets their demands and expectations for sustaining an effective business development.

Parole chiave

  • online business networking
  • business to business collaboration
  • e-commerce business
  • business communication requirements
  • e-commerce supply chain
  • online know-how sharing
Accesso libero

Suitability of OPC UA for distributed energy monitoring

Pubblicato online: 29 Nov 2019
Pagine: 399 - 410

Astratto

Abstract

According to ISO 50001, energy management systems have become widespread in the manufacturing industry. Especially for most large, energy-intensive companies, an energy management system has become an indispensable component of cost planning and sustainability strategy. Energy monitoring is used for continuously evaluating energy flows. Networked and distributed monitoring in industrial production environments is becoming increasingly common with cyber-physical systems (CPS) and can take advantage of them. Considering this, the OPC Unified Architecture (OPC UA) framework plays a decisive role, as it networks all factory components and creates a standard for interoperability between the components. In a literature review context, this paper examines the flexible OPC UA standard, particularly concerning its applicability to energy monitoring. The research question concerns which OPC UA aspects are of relevance for an energy management system. To reduce the technical resources, a subset of the complete standard tailored to the specific task can also be available in the components. Here, we investigate the requirements an energy-related CPS has to fulfill and extract the standard’s relevant components and characteristics from the OPC UA framework based on these requirements. Using the information model of OPC UA, an energy sensor becomes a CPS. We demonstrate this process in a prototypical implementation.

Parole chiave

  • OPC Unified Architecture
  • IEC-62541
  • cyber-physical systems
  • energy monitoring
  • sensors
Accesso libero

Particularities of public-private partnership in the social field of the republic of Moldova

Pubblicato online: 29 Nov 2019
Pagine: 411 - 420

Astratto

Abstract

The evolution between the state institutions and entrepreneurship relations in developed and developing countries has proved that their constructive interaction is the most important factor for successful socio-economic development. The constantly growing gap between the needs of the population for public services, infrastructure, requirements for them, and budget constraints led to the development of partnership relations between the state and business structures. Most often, the interaction between business and state institutions is found in such areas as state property management, regional development, the real estate market, infrastructure support on technological development, transport infrastructure, utilities, medical and educational services. But to a greater degree public-private partnership, especially in the form of a concession, is applied in the field of transport and directly in road construction and we would like to emphasize that this practice is quite broad with rich experience. Interest in PPP mechanisms in other areas of activity is primarily due to the budget deficit. Without attracting the resources and potential of the institution of entrepreneurship, it is impossible to solve the task of developing a particular socially significant sphere in the context of a lack of budgetary resources. Therefore, taking into account the condition of the Republic of Moldova social sphere, more interesting is the issue of the extension of PPPs in the public sector. Therefore, the article is dedicated to features, tools and tendencies identification of public-private partnership in the social field within the Republic of Moldova.

Parole chiave

  • Republic of Moldova
  • public-private partnership
  • government
  • private sector
  • company
  • social infrastructure
  • tool
  • development
  • fund
  • investment
  • contract
  • concession etc
Accesso libero

Multi-organ Transplantation Center in Romania: a story of persuasion for a controverted issue

Pubblicato online: 29 Nov 2019
Pagine: 421 - 434

Astratto

Abstract

Many countries built their own models of transplantation, collaborating to exchange knowledge and donor organs for effectively help their patients in need. Despite great clinical research on transplantation, literature regarding its management is scarce. Transplantation is quite a controverted issue in Romania, without a culture of donation, within a poor healthcare system. Yet, first attempts were in early 20th century, and modern transplantation started since 1995. There was always a shortage of organs, but after recent press scandals, people became more reluctant to donate, therefore transplantations went down, dramatically impacting patients.Our objective is to emphasize opportunity, need and sustainability for developing a multi-organ transplantation center in Romania, of regional importance, in order to better serve our patient needs in an effective and efficient manner. This research used descriptive analysis, secondary data compilation and review, legislative diagram, case study. Currently there are 68 transplantation centers accredited in Romania with 13,702 transplants accomplished (organs, tissues, cells), at a rate of 19.3/million, covering 19.4 millions of people living just 75.5 years in average (EU=80.2). But 5,400 Romanian patients wait for a transplant, while 550 died waiting... After modernization and building a great surgical center and team, Clinical Hospital St. Maria of 300 beds started complex surgery and successful liver transplantation in 2014, continued with lung transplant in 2018 – Romanian premiere, after many struggles. Next step is a modern multi-organ transplantation center. Vision, persuasion and effective leadership are crucial. Romanian potential for overspecialized surgery is greater than actual practice. Experience indicates that multi-organ transplantation centers are more effective and efficient than separated ones, by concentrating the best specialists, technology, knowledge and resources available for harvest, transplant and care, thus improving health outcomes (donors, successful transplants, lives saved, quality of life), prestige, retention of excellent professionals, and trust in healthcare system, at lower costs than in developed countries.

Parole chiave

  • Transplantation
  • Life-saving
  • Multi-organ Transplantation Center
  • Healthcare Leadership
  • Healthcare Performance
Accesso libero

Romania and its poverty-alleviating competitiveness: a Central and Eastern European outlook

Pubblicato online: 29 Nov 2019
Pagine: 435 - 447

Astratto

Abstract

Competitiveness is a prerequisite for development and a critical ingredient for enabling national welfare in the nowadays challenging world, being more and more debated and approached by researchers and policymakers at the same time. Following these considerations, the article aims to illustrate Romania’s competitiveness ranking in fighting poverty and ensuring a decent level of living to people relative to the European Union’s positioning, through indicators comprised within the European Social Progress Index and the Global Competitiveness Index. The concern for this topic is backed up by prior research performed with respect to Romania’s social and economic competitiveness, claiming that the country has managed to improve its standing among European Union member states but it still has to struggle to get even better by following the best practices of these nations. Thus, there is a relentless need for the consolidation of both its economic cohesion by altering the quality of its infrastructure and institutions, as well as its social status through investments in education, knowledge and innovation. As for the methodology, the analysis of Romania’s competitiveness degree will firstly incorporate a literature review section, comprising poverty, competitiveness and competitiveness obtainment tools. The evaluation will also rely on document analysis of secondary data concerning competitiveness indicators retrieved from the websites of the institutions issuing them, namely Social Progress Imperative and World Economic Forum. The research intends to clarify how Romania can become more competitive in social terms, what fields require substantial progress and what the European Union countries can teach us in this sense.

Parole chiave

  • competitiveness
  • poverty
  • Romania
  • Central and Eastern Europe
  • Global Competitiveness Index
  • Social Progress Index
Accesso libero

Linearization and discretization risks in knowledge management

Pubblicato online: 29 Nov 2019
Pagine: 448 - 456

Astratto

Abstract

The purpose of this paper is to analyze the limitations induced in Knowledge Management by the processes of linearization and discretization, which happen frequently in decision-making. Linearization is a result of applying linear thinking models in decision-making, regardless of the complexity of knowledge management phenomena. Knowledge and all the other intangible resources are nonlinear entities and they should be evaluated with nonlinear metrics. However, in many situations managers use simple solutions based on linear thinking models and get large errors in their decision-making, with significant negative consequences in management. Also, linear thinking model is dominant in legislation, which may lead to significant errors in managerial decision-making. Discretization is a process in which an entity with a continuous representation, like a knowledge field, is transformed into a piecewise entity to be handled more easily. Also, social media uses discretized systems for different evaluations which should be interpreted accordingly. For instance, counting the number of “like” on Facebook for a certain message or image may lead to the conclusion that friendship is proportional with the number of “friends”, which might not be in concordance with reality. Knowledge management is a complex activity dealing with knowledge, which means nonlinear entities. Using linear thinking models and discretization methods in evaluations and decision-making may lead to significant errors and negative consequences.

Parole chiave

  • knowledge
  • knowledge management
  • intellectual capital
  • intangible resources
  • linearization
  • discretization
Accesso libero

Conceptual Model of Decision Making Information Used by Managers in Bulgarian Non-hospital Medical Organizations

Pubblicato online: 29 Nov 2019
Pagine: 457 - 467

Astratto

Abstract

Managerial decision making process is broadly discussed in the specialized literature. There is a great number of views and opinions about the needed prerequisites to achieve better managerial performance. No consensus on the problem has been achieved so far and the universal formula for managerial success is still a chimera. The only point upon which everyone agrees is that the information access is the milestone of an effective decision making process. That was the reason why we decided to investigate what types of information are needed by the managers in Bulgarian non-hospital medical centers to take their managerial decisions. Medical centers are specific organizations which offer specific services. They are highly regulated and this unifies to a great extent the information needs of healthcare managers. Therefore we were able to develop a conceptual model for the decision making process. The model is based on the results of a scientific research which investigates managerial practices of most successful non-hospital healthcare managers in Varna, Bulgaria. The main purpose of the conceptual model is to illustrate the relationships between the basic information needs of the healthcare managers in non-hospital medical care, their managerial decisions and conducted managerial functions. On one hand it gives an opportunity for development of more useful and complete information system for healthcare purposes. On the other hand it can serve to healthcare managers as a good start point for further development of their managerial potential in the needed directions.

Parole chiave

  • managerial decisions
  • information needs
  • healthcare management
Accesso libero

Does migration influence corruption in Europe?

Pubblicato online: 29 Nov 2019
Pagine: 468 - 478

Astratto

Abstract

Corruption and migration influence the country level of development, so they have been debated and studied for a long time. Has been written a lot about the two phenomena and their relations with many social and economic factors, but the two also influence each other. The higher the level of corruption in a country, the more people will be more likely to migrate and vice versa. This study aims to study the link between the two phenomena considering the countries from Europe, over time, for the period 2008-2016, highlighting the implications in the economy. The variables analyzed are the Corruption Perception Index and the number of emigrants. The methods used are panel regression and cluster analysis and the processing and analysis was performed using the statistical software SAS (version 9.2) and SPSS (version 13 and 25). The findings show that there is a link at European level between the two phenomena, corruption and migration have a similar trend over time, and significant differences are registered between countries.

Parole chiave

  • level of development
  • corruption
  • migration
  • panel analysis
  • cluster analysis
  • Europe
Accesso libero

The Impact of Digitalization on Business Sector Development in the Knowledge Economy

Pubblicato online: 29 Nov 2019
Pagine: 479 - 491

Astratto

Abstract

The economic progress of the last century has made the world seem smaller, has shortened distances and provided an increase in the efficiency with which the ‘time’ resource is used. Currently, due to technological advancement, change and diversification of the means of communication, we can get in touch or chat with another person in every corner of the world, no matter how far. Moreover, technology imports raise standards of living and bring improvements to the service sector. The digital revolution is not only present, but it is increasing every day. Knowledge fundamentally transforms every sector of our economy - from health up to transport and energy and beyond. The scope, magnitude and omnipresence of these disruptive innovations are truly unprecedented. The objective of our work is to present the theoretical approaches regarding the information society and its quantification in Romania and in the European context on the basis of specific indicators. By analyzing these indicators, we try to demonstrate the position of our country at world level in terms of ICT. In order to analyze comparatively the situation of ICT and their impact on the business sector, two major indicators for this field were analyzed - the State ICT Development Index (IDI) and the DESI Index.

Parole chiave

  • ICT
  • knowledge economy
  • digitalization
  • technology 4.0
  • technological innovations
Accesso libero

Repositioning sales as an influence on innovation and a source of sustainable competitive advantage

Pubblicato online: 29 Nov 2019
Pagine: 492 - 504

Astratto

Abstract

The main purpose of this paper was to analyze the relationship between the company’s sales activity, innovation and competitive advantage using a representative sample of firms analyzed in dynamics in 2014-2018 time period. Scientific literature on the determinants of innovation has shown that large firms are more likely to innovate when compared to small firms and that innovation inputs significantly increase innovation output. The types of innovation to which this work refers are process, product, organizational and marketing innovation. Thus, looking at the history and evolution of companies, in terms of financial statement and, more specifically, sales, we can reveal relevant information about their innovation activities and potential sustainable competitive advantage emerging from innovation. Sales can be considered input into the innovation process through the information gathered from customers, thus contributing to the innovation process. For example, when it comes to launching a new product or improving the existing one, sales feedback could be of great help because the salesperson has the ability to collect important customer feedback such as: what are the issues with the present product, what could be improved and how etc. So, we ask: Does sales contribute to the innovation process and gaining sustainable competitive advantage? If so, what happens with the degree of innovation according to the volume of sales, the size of the company, the number of employees? To highlight the relationship between sales, innovation and competitive advantage, and to estimate the predictability of the model, multiple linear regression was used. Thus, the analysis has shown that sales activity positively and significantly influences innovation when it comes to the information that sales can make available, contributing in some cases as a source of sustainable competitive advantage. Research also identified a significant but negative influence between sales, innovation and sustainable competitive advantage when we talk about sales in terms of their volume.

Parole chiave

  • Innovation
  • Competitive Advantage
  • Sales
  • Innovation Determinants
  • Process Innovation
  • Product Innovation
Accesso libero

Corporate social entrepreneurship initiatives against food waste – The case of Lidl in Romania

Pubblicato online: 29 Nov 2019
Pagine: 505 - 514

Astratto

Abstract

Food waste is one of the major global sustainability issues which, in the last few decades, has come to the attention of numerous organizations which have implemented strategies aimed either at preventing food waste, recovering the food and reusing it for human consumption or ensuring that the food unfit for human consumption is recycled into compost, animal feed etc. Previous studies have highlighted that major retailers share a large portion of the responsibility for combating food waste and that they are particularly well-positioned to contribute with a solution to this issue. Thus, the study explores the ways in which food chain responsibility can be incorporated into the overall strategy of large chain retailers through the theoretical framework of corporate social entrepreneurship. Lidl’s initiative against food waste in Romania provides the background for the discussion of the means through which the resources owned by these chain retailers can be mobilized in order to help increase the amount of food that is recovered and reused for alleviating the problem of food scarcity among disadvantaged groups. The study highlights the aspects that are necessary for a successful corporate social entrepreneurship initiative aimed at reducing food waste: a) a clear articulation of the problem and solution; b) the mobilization of actors from the civil society; c) continuous investment; and d) the alignment of the scaling up strategy of the initiative with the retailer’s resources. The study concludes that a food waste program based on the principles of corporate social entrepreneurship can generate a sustainable competitive advantage for retailers.

Parole chiave

  • food waste
  • social responsibility
  • corporate social entrepreneurship
  • retailing industry
Accesso libero

Assessing the influence of Information and Communication Technologies on energy productivity

Pubblicato online: 29 Nov 2019
Pagine: 515 - 527

Astratto

Abstract

The digitalization current is among one of the most relevant factors that currently drive transformation in the economy, with different degrees of impact across the main segments of the economy. As the topic of sustainability is now on the agenda of the biggest economic players, digitalization and the ability to leverage Information and Communication Technology opportunities have been recognized as drivers for innovation and change and a means to reach the sustainability goals. Reaching energy efficiency has been among the main objectives of both the public and the private sectors, leading to an increased interest in recognizing and capitalizing on energy efficiency opportunities. This in turn has an impact on the overall energy productivity, defined as the economic output per unit of energy. While this indicator has relevance at both micro and macro level, it is important to identify which makes some countries perform better than others. In the current economic context, studying how the performance of countries in the digital era correlates with the energy productivity can reveal further information on how it can be improved. The Networked Readiness Index is an indicator which assesses how well a country can capitalize on digital technologies and whether their usage of Information and Communication Technology has a relevant socio-economic impact. This paper analyzes which components that are assessed in a country’s Networked Readiness Index might influence energy productivity. Based on a panel data analysis performed on European countries, the study identifies that the individual usage of Information and Communication Technologies, the business and innovation environment and the usage of ICT by the business segment could have an impact on the energy productivity of a country.

Parole chiave

  • energy productivity
  • Networked Readiness Index
  • information and communication technologies
  • digitalization
  • sustainability
  • panel data analysis
Accesso libero

Cruise industry in Romania – An emerging market

Pubblicato online: 29 Nov 2019
Pagine: 528 - 536

Astratto

Abstract

Cruise tourism has experienced an enormous growth in the last few decades and the future of this industry is also encouraging. The Caribbean and the Mediterranean Sea, the two major destinations, offer the most exciting itineraries since the beginning of this industry. The cruise passenger’s perception about destinations, onboard and onshore aspects have been less investigated in the past years but this information shall be used for planning and developing marketing materials, new cruise itineraries, ship designs and shore excursions. The following study was conducted in Romania and aims to clarify the Romanian passenger’s perception about cruise destinations and their preferences. Using a quantitative method, the research is based on some of the most representative international studies as well as a survey sent to the most active customers of a cruise travel agency in Romania, who have shown interest in this kind of trip at least once. As a qualitative research method, a convenience sample of participants were recruited through the researcher’s professional contacts in the cruise and travel industry. Among other conclusions following this research, the most important aspect for a Romanian guest is the itinerary of the cruise ship, followed by the price and the embarkation port. The number of sea days, the service quality onboard and the cruise line are also relevant when choosing a cruise vacation.

Parole chiave

  • cruise tourism
  • Romanian market
  • demand
  • perception
  • cruise destinations
Accesso libero

Developing rural tourism in the context of sustainable bioeconomy – a Romanian perspective

Pubblicato online: 29 Nov 2019
Pagine: 537 - 547

Astratto

Abstract

Due to the massive urbanization during the second half of the 20th century, rural areas have undergone major structural changes defined by the migration of villagers to cities (implicitly the depopulation of villages), the introduction of new techniques and technologies for working the land and infrastructure developments. In order to call public attention upon these problems and in the attempt to rehabilitate rural areas, more intensive exploitation of tourism resources has taken place. Tourist resources are the elements referring to the social, cultural, historical, human and natural specifics of a country. In rural tourism, travelers take part in the activities, lifestyle and traditions of rural communities, and in this manner they benefit from an entirely personalized experience. They usually rent rural accommodation, which they can combine with rural activities and attractions (recreational and fun). Rural tourism is defined as all rural tourism activities, primarily agrotourism boarding houses and farms, but also small restaurants and hotels or other accommodation. However, there are countries that classify any activity undertaken outside the city as rural tourism. Research in the field of rural tourism development favors the creation of so-called integrated rural tourism (at both the theoretical and practical level) for the exploitation of underdeveloped regions, creating strong links between the social, cultural, economic and environmental resources. The aim of the present study is to evaluate the level of rural tourism in Romania by means of econometric methods and establish means of aligning the Romanian rural tourism product to international standards. One of the main conclusions the present study draws that is tourism is an important economic segment of sustainable development and is also a key component in the formation of the country image at regional and international level.

Parole chiave

  • rural tourim
  • sustainability
  • bioeconomy
  • sustainable bioeconomy
  • green tourism
Accesso libero

Considerations regarding compliance with the Regulation (EU) 2016/679 (GDPR) in Human Resources Departments

Pubblicato online: 29 Nov 2019
Pagine: 548 - 559

Astratto

Abstract

Most companies and institutions, collect and process personal data about their employees, such as: name, phone number, email address, person’s location information and activities at work, surveillance images from CCTV cameras, - all of these are personal data of individuals. And the list remains open. Consequently, all state or private institutions are affected by REGULATION no. 679 of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46 (“GDPR”). In this paper we will present also, some of the past laws available in European Union prior to the approval of the REGULATION no. 679 of 27 April 2016. Those were also important for the life of the European citizens, but they have not been so well implemented and transposed into the legislation of all EU countries, which led in time to the appearance of the new REGULATION no. 679 of 27 April 2016. GDPR has a global impact as its rules are applicable to personal data that concern or describe the behavior of any natural person within the European Union even if the entities collecting and processing personal data are located outside the Union. Through this paper we aim to identify some of the main implications and risks deriving from the application of the GDPR at the level of the Human Resources Departments from the companies operating within the European Union.

Parole chiave

  • GDPR
  • Human Resources
  • Data Protection
  • Compliance with Regulation (EU) 679/2016
  • Privacy
Accesso libero

‘Green’ obligations regarding new constructions and their impact on the real-estate market

Pubblicato online: 29 Nov 2019
Pagine: 560 - 566

Astratto

Abstract

The fight for reducing green gas emissions and energy dependency requires the application of additional obligations for new constructions. From this perspective, starting from the 31st of December 2020 building permits for new constructions in the private sector shall be issued only if their energy consume is close to zero. Additionally, the recovery level of non-dangerous waste resulting from construction and demolition activities must reach until the 31st of December 2020 a percentage of minimum 70%. Also, with respect to residential and non-residential buildings, new and also buildings undergoing major renovation, the real-estate developers must take into consideration the obligations regarding the instalment of electrical recharging points for electrical vehicles. These additional obligations will have a direct impact upon the construction price and will certainly influence the real-estate market.

Parole chiave

  • real estate
  • green obligations
  • real estate market
  • energy
  • green certificate
Accesso libero

Patients’ attitudes toward the use of IoT medical devices: empirical evidence from Romania

Pubblicato online: 29 Nov 2019
Pagine: 567 - 577

Astratto

Abstract

The Internet of Things (IoT) in healthcare sector is the collection of medical devices and applications that connect through online computer networks. The purpose of this study is to analyse the acceptance of medical devices that are based on IoT technology and monitor the health of individuals/patients. Most IoT medical initiatives have been focused on remote monitoring, improving patient care through various sensors and data processing those measures, for example, patients’ vital signs. In medical services trust plays a key role in the patients’ decision to adopt IoT technologies in medical industry. For this analysis, the Technology Acceptance Model was adopted in order to explain the way users accept and utilize these new medical devices that are based on IoT technology. The model was also used in order to identify those factors that influence the patients’ decision of accepting this technology and also analyse the way they use it. Cross-sectional data were collected from 96 patients through a survey. Data were then analysed by means of multiple regression analysis. The findings verified the research hypotheses. Thus, different securities challenges could face the adoption of the IoT. In addition, privacy requirements are another major challenge in using these technologies. Risks arise where devices and applications are untested, resulting in issues with interoperability, stability, compatibility and data security. For the elderly and people with disabilities, these IoT provisions are very useful in providing autonomy, a personalized approach and permanent monitoring. The theoretical contributions and practical implications of the study are discusses.

Parole chiave

  • Internet of Things
  • adoption
  • information security
  • healthcare
  • medical devices
Accesso libero

Investors’ rationality. An analysis of the investment policy implications on shares valuation

Pubblicato online: 29 Nov 2019
Pagine: 578 - 588

Astratto

Abstract

The investment policy is an important vehicle of growth for a company. Therefore, it should be one of the most important signals for investors on the capital market. We use the statistical analysis of the investors’ reactions to different patterns of investment policy to highlight their preference for an active investment policy and the changes induced by the financial crisis. By a comparative analysis of investors’ preferences with the information on the accounting-based performance recorded simultaneously and in the future economic exercise, we focus on the extent and limits of the investors’ rationality around the financial crisis.

Parole chiave

  • Investors’ Rationality
  • Animal Spirits
  • Investment Policy
Accesso libero

The role of Supply Chain in improving competitiveness

Pubblicato online: 29 Nov 2019
Pagine: 589 - 600

Astratto

Abstract

The international economic environment is witnessing a series of radical transformations, particularly in the marketing field. The liberalization of markets and the international marketplace integration have led to qualitative developments of the economic entities at various levels especially from the technological point of view. These transformations have affected most of the modern world, and Algeria is no exception to that phenomenon. Its economy is witnessing several modifications in order to move towards a modern market economy compliant with the current definition of freedom of exchange. This is the goal that Algeria seeks to reach by adhering to the World Trade Organization, whose rules are based on concept of free market, lawful competition as well as the lifting of major customs barriers. Companies have to exploit all the possibilities and strategies to improve their productivity, management and overall workflow in order to rise above the challenge and succeed in establishing themselves strongly in such a market. In this instance, the supply chain becomes the main symbol of the link between production sites and consumption locations thus making supply chain management one of the most progressive forms of dynamic and integrated management and is considered a main driver of competitive. In this paper, we attempt to prove the importance of the aforementioned concept of supply chain management under the form of a case study that assess the competitiveness of the AURAS mills in Algeria to determine the various elements that are the main contributors to the improvement of the overall position of the company on the market as well as the drivers behind the continuous progress and innovation in management of the dynamic components of the company. We expect to prove that a shift in the structure of the company towards the creation of an autonomous supply chain department will improve the competitiveness of AURAS mills as well as provide a clear development and amelioration path for the overall functioning of the company.

Parole chiave

  • Supply Chain
  • Management
  • improving competitiveness
  • Economy
  • Global Market
  • Logistics
Accesso libero

Study on the fiscal behavior at an international level

Pubblicato online: 29 Nov 2019
Pagine: 601 - 612

Astratto

Abstract

Apparently, defining fiscal behavior is a relatively easy approach, but in essence, this concept requires the research of several elements, both economic and psychological. The taxpayer is the component of the tax system that reflects the fiscal policy and, implicitly, its changes. Thus, research in the field has shown that two types of behavior can be identified by combining several economic, psychological, religious or cultural factors: fiscal compliance or fiscal non-compliance. The research ideea may be motivated by the growing importance of tax behavior and compliance subject, especially in the current economic situation, when taxation has become a controversy at any time and in any society, regardless of the degree of democracy. Moreover, tax compliance does not refer only to the economic aspects, but also to the behavioral aspects that influence the process of raising public taxes. The econometric study analyzes the fiscal correlation between the public debt and tax variables such as tax revenues from direct and indirect taxes or social contributions, conected to the dynamics of the gross domestic product and the scale of payments balance. The study is conducted for two groups of countries: developed and emerging countries. The purpose of this research is to identify both the impact of tax revenues on direct, indirect taxes and social contributions, and that of the dynamics of gross domestic product and scale of payments balance on public debt, showing how fiscal behavior is influenced by the two groups of countries and what factors contribute to this.

Parole chiave

  • fiscal behavior
  • tax system
  • taxpayer
  • individual
  • taxpayer
  • tax revenue
  • fiscal policy
  • fiscal pressure
Accesso libero

Protection of personal data at the level of economic structures within companies in Romania

Pubblicato online: 29 Nov 2019
Pagine: 613 - 624

Astratto

Abstract

The accounting profession must comply with the provisions of the Regulation no. 679 of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46 (“GDPR”). GDPR requires companies to take mandatory technical and organizational measures to demonstrate that personal data has been secured. Accounting practitioners process personal data and are therefore required to comply with specific legislation in the field of personal data protection. Professionals accountants are directly affected by these provisions as they collect, store and process personal data relating to customers, employees and subcontractors. This article aims to identify the risks and implications that can appear from the application of the GDPR at the level of the economic departments of the companies operating in Romania

Parole chiave

  • GDPR
  • Economics
  • Accounting
  • Data Protection
  • Compliance with Regulation (EU) 679/2016
  • Privacy
Accesso libero

Change management within companies

Pubblicato online: 29 Nov 2019
Pagine: 625 - 634

Astratto

Abstract

The environment in which a company operates is diverse and demanding, as there are unnoticed variables. In order to ensure success in the transformation process of a company’s management, leaders need to take into account certain factors that will help the company gain competitive advantage. The ability of companies to adapt, start or implement a change will depend to a large extent on the human resources and skills, attitudes and knowledge they hold. So change is an essential component of the evolution process of companies that put effort, time and resources into implementing an advantageous strategy, but, on the other hand, transformation can be the decay of an organization. For such a strategy, managers need to balance all relevant aspects of the organization and the outside, so that they can position themselves to the current realities of the business environment. This article highlights the importance of change management for the companies, the challenges that they encounter in this process, as well as the main models and theories of change management.

Parole chiave

  • Change Management
  • Manager
  • Company
  • Technology
  • Challenges
Accesso libero

Digital transformation trends reshaping companies

Pubblicato online: 29 Nov 2019
Pagine: 635 - 646

Astratto

Abstract

Nowadays, the ubiquity of the digital technology and the transformation it brings both within the societies and economies around the globe has become a well-accepted fact. For business is no longer a matter of whether or not to incorporate technology in their daily activity, but a matter how to change their way of approaching, and doing when adapting to digital. The digital transformation has enabled the emergence of new business models, as well as many other changes when it comes to satisfying the customer’s needs and expectations, by creating opportunities for value and sustainability. The present paper highlights all these aspects, emphasizing on how businesses can think about the digital transformation to achieve the highest benefits and create competitive advantage.

Parole chiave

  • digital transformation
  • business optimization
  • digital imperative
  • digital business processes
Accesso libero

Sustainable Entrepreneurship in the Romanian Sports Industry

Pubblicato online: 29 Nov 2019
Pagine: 647 - 654

Astratto

Abstract

Sustainable entrepreneurship is a new business driven concept with the aim to increase both social and business value. The three pillars of sustainable entrepreneurship are people, profit and planet. The question that comes frequently in discussion is how businesses can mix these three and bring human beings in a balance with the nature by keeping the profit goal. Sports industry registered a huge increase in the last twenty years, including Romania, especially on the side of amateur sports people, usually employees who are seeing sports activity as a way of reaching the life-work balance and a way of destressing after a hard working day. Sports entrepreneurs observed very quickly the opportunity of this form of spending free time, especially through activities done outside in the nature and started to organize diverse events like mountain marathons, cross biking, duathlons etc. The novelty comes from the fact that many events, especially in Romania, have the component of “planet”. People are participating because e.g. part of the fee is financing ecological or social projects in different regions of the country. The aim of this paper is to analyze the concept of sustainable entrepreneurship in relation with different sports events and answer to some questions. How many organizers take into account the social part of the events? Are they more interested in ecological, social or other type of value? Participants decide where to go based on the social or ecological causes financed? Based on different research methods the author is outlining the typology of sports events at the amateur level in Romania and the interest of combining the profit with the social value goal. The results of the study might be of interest for several groups of stakeholders (public authorities, NGOs, companies, managers etc.) when developing public policies, proposing life-work balance programs and other measures aimed at stimulating sustainable entrepreneurship.

Parole chiave

  • sustainable entrepreneurship
  • sports industry
  • Romania
  • business value
  • social value
Accesso libero

On the court jurisdiction in case of litigation between entrepreneurs

Pubblicato online: 29 Nov 2019
Pagine: 655 - 662

Astratto

Abstract

According to the Romanian legislation, the parties may agree in writing that the disputes concerning goods and other rights deriving from the non-performance of the contract be judged by other courts that, according to the law, would have territorial jurisdiction to hear the case, unless the competence of the court is exclusive. By decision no. 18/2016 the Romanian High Court of Cassation and Justice, through the competent division to judge the appeal in the interest of the law, decided that in matters of procedural substantive (material) jurisdiction of the specialized courts, the competence of the specialized courts is determined depending on the object or the nature of disputes such as those considered examples by art. 226 paragraph 1 of Law no. 71/2011 on the application of Law no. 287/2009 on Civil Code. Considering also this decision, the article aims to analyze the practical implications of another recent decision of the Romanian supreme court, namely Decision no. 561/2018, on the competence of the specialized court in litigations between entrepreneurs and, without claiming to cover extensively the subject, to offer a view on the Romanian current legal framework, on the court jurisdiction and the notion of professional, underlining the freedom of entrepreneurs or professionals of choosing the relevant court.

Parole chiave

  • competence
  • jurisdiction
  • Romanian court
  • entrepreneurs
  • professional
Accesso libero

Biomonitoring climate change and air quality assessment using bioindicators as experimental model

Pubblicato online: 29 Nov 2019
Pagine: 663 - 672

Astratto

Abstract

Nowadays, the air pollution has become a major environmental problem due to rapid increase of industrialization and anthropogenic activities which led to climate change. Air pollution is considered as a harmful agent for human health. Different classes of gaseous pollutants (SOx, NOx) are continuously released in air and perceived/recognized as pollutants. Among the biological models, plants could give us information related with pollution range in a monitored area, analyzing injuries caused on the leaves surfaces. The aim of this study was to identify and select certain species of plants for using them in experimental biomonitoring studies. An experimental fumigation system with a closed fumigation glasshouses maintained under defined conditions with environmental control and pollutant delivery was used to study the effects of air pollution on plants species. The relative degrees of injury as a response of plants to pollutants fumigation were assessed. Considering the sensitiveness degree to pollutants, the indigenous tobacco Nicotiana rustica proved to be the most sensitive followed by cultivated tobacco Nicotiana tabacum and least sensitive Petunia hibrida. Future researches will focus on field biomonitoring.

Parole chiave

  • climate change
  • air quality
  • biomonitoring
  • bioindicators
  • experimental model
Accesso libero

The role of the emotional intelligence in the relationship between medical personnel and the patient

Pubblicato online: 29 Nov 2019
Pagine: 673 - 686

Astratto

Abstract

The way we recognize and manage emotions, empathy, stress management, and the ability to build harmonious relationships, or emotional intelligence, are little explored in the medical field, although they have been shown to play a very important role in recovering patients and increasing the degree of their satisfaction with the accessed medical services. The purpose of the research is to highlight, based on the results of an investigation, whether the emotional intelligence of medical staff influences the quality of the medical services offered and patients’ satisfaction. Towards this end, the authors performed a survey based on the emotional intelligence test developed by Daniel Goleman and presented in his book “Emotional Intelligence”, and modified and adapted by Mihaela Roco. The patients included in the sample answered to a questionnaire related to their satisfaction when they used medical services.

Parole chiave

  • Emotional Intelligence
  • Medical Services
  • Patient Satisfaction
Accesso libero

An analysis of the impact of the knowledge management technique of e-learning on developing the students’ learning process from ASE Bucharest

Pubblicato online: 29 Nov 2019
Pagine: 687 - 696

Astratto

Abstract

The paper focuses on providing an academic context that will help to understand better the concepts of knowledge management and e-learning on a university background. The study investigates the use of e-learning tools within the student learning process on 200 respondents (students) from the Bucharest University of Economic Studies. It was based on a survey analyzing in a comparative manner the features and benefits of e-learning versus traditional learning and the outcomes revealed that e-learning should be used in a more frequent and efficient manner as it presents much interest to the students and it can contribute to their research abilities, not only to their final grades for different disciplines.

Parole chiave

  • knowledge management
  • e-learning
  • student learning process
  • student learning outcomes
Accesso libero

Reframing business reporting in a Big Data world

Pubblicato online: 29 Nov 2019
Pagine: 696 - 706

Astratto

Abstract

This paper investigates the challenges raised by the “datafication” of the business environment in the area of performance management. Big Data and its powerful analytics are now essential elements of the business landscape, and the mindset of managers and decision-makers has a crucial impact on how the opportunities offered by these new technologies can be capitalised. Our focus is on how and to what extent business performance management models need to be reviewed and reframed in this era of Big Data. We propose a model, called Balanced ScoreCard System Thinking, that may insure an integrative, highly dynamic and agile construction. This “top-down-bottom-up” approach assess the way in which every segment of the Balance Score Card is affected by Big Data and Business Analytics. These findings may enable business leaders to develop a more agile and forward-looking approach to performance management, which is only made possible through these new technologies of data analytics.

Parole chiave

  • Business reporting
  • Big Data
  • Business Analytics
  • Balanced Scorecard
  • System Thinking
  • Drivers
Accesso libero

Qualitative and quantitative Analysis of consumers perception regarding anthropomorphic AI designs

Pubblicato online: 29 Nov 2019
Pagine: 707 - 716

Astratto

Abstract

Business intelligence and analytics are nowadays being integrated into diverse industries, from healthcare to customer relationship management and behavioral profiling, due to the competitive advantages that they offer. Nevertheless, most companies try to integrate as many forms of business intelligence systems as possible into different internal processes. This overall digitization applied to more and more business departments is being analyzed with both curiosity and reluctance. The decision regarding the implementation of innovative forms of automation is taken in an attempt to discover and solve business challenges. However, there are several issues involved, which need to be addressed. One of the risks that are being discussed in the research environment refers to the level of acceptance of artificial intelligence systems. The tolerance and overall readiness of the consumers towards innovation and technology is one of the critical factors which need to be determined before implementing disruptive business intelligence systems. Moreover, in an effort to make devices friendlier to consumers, some developers chose to assign anthropomorphic appearances and even create individual identities for each artificial intelligence system. In this context, it is important for most companies investing in intelligent automation systems to determine to which extend the use of anthropomorphic designs impacts the customer’s perception. The objective of this research paper is to analyze the unconscious reaction of consumers towards two opposite designs of artificial intelligence systems: a robotic-like form and a human-like design. Based on this difference, a photo collage was created figuring two pictures: one with a metallic robot having a conversation with a human being and one with a robot with a strong anthropomorphic figure found in the same situation. For the analysis, an eye tracking device was used, in order to measure the point of gaze, the unconscious motion of the eyes, along with the time spent on each fixation and the order in which different elements were fixated upon by the respondents. As the eye-tracking device can generate data in various forms, this research includes both qualitative and quantitative analyses of the results, which confirm the same hypothesis, regarding the consumer’s preference towards artificial intelligence systems with robotic designs.

Parole chiave

  • artificial intelligence
  • consumer’s perception
  • anthropomorphism
  • eye-tracking
  • unconscious reaction
Accesso libero

Key drivers and skills need for innovative companies focused on sustainability

Pubblicato online: 29 Nov 2019
Pagine: 717 - 727

Astratto

Abstract

Innovation is essential for European competitiveness and provides key inputs for developing business models that are conducive for a more sustainable economy. Recent evidences show that businesses have increased the management attention and investments they’re dedicating to sustainability. This paper aims to identify the most important drivers supporting companies to develop innovation activities oriented towards making the business models more sustainable. We explore microdata from the 2016 Innobarometer “EU Business Innovation Trends” (Flash Eurobarometer 433), covering 14,112 companies from 30 countries. Using statistical classification methods, we identify the most important factors that are related to innovation activities that have potential to shape the efficiency of raw materials usage and the environmental protection. Special focus is given to companies’ investments in training, software development, research and development, company branding, design of products and services, organization or business process improvements and acquisition of machines, equipment, software or licenses. Also, our analysis highlights the skills that are needed the most by companies in order to support their innovation activities targeting sustainability. Our results are useful for better understanding the attention that is given to sustainability by innovative companies and which are the main factors that boost innovation dedicated to sustainability.

Parole chiave

  • sustainable development
  • innovation
  • skills
  • resources efficiency
  • classification methods
Accesso libero

HR specialists’ perceptions of the desirability of psychopathic traits in job candidates

Pubblicato online: 29 Nov 2019
Pagine: 728 - 739

Astratto

Abstract

The study of psychopathy in organizational settings is still in its incipient stage, but scholars have already proven that the prevalence of psychopathic features in the corporate environment, especially in senior positions, is higher than in the general population (3% compared with 1% in general population) and that employees with psychopathic tendencies have a negative impact on the sustainability of organizations. It has been argued that human resources specialists have to become astute at identifying employees with psychopathic features in order to be able to manage their careers in a way that would not affect the organization’s wellbeing. However, research has also proved that there are several psychopathic traits which make job candidates likelier to obtain a job, due to the positive impression that they create during the job interview. The study tested the desirability of psychopathic traits in job candidates from the perspective of human resources specialists and, based on a survey of a sample of 68 Romanian human resources specialists, found that candidates displaying an ability to remain calm under pressure, self-confidence and persuasiveness are more likely to be hired. Moreover, the study concluded that Romanian human resources professionals are somewhat aware of the threat posed by psychopathic employees and that most of the employers they represent use selection methods able to filter out potential psychopaths. The findings open up new avenues of research on the ways in which selection strategies can be employed in order to enable human resources specialists to effectively identify candidates with psychopathic tendencies.

Parole chiave

  • psychopathy
  • organization
  • selection process
  • human resources
Accesso libero

New approaches to customer experience: where disruptive technological innovation meets luxury fashion

Pubblicato online: 29 Nov 2019
Pagine: 740 - 758

Astratto

Abstract

Consumer behavior is shifting radically with the rise of e-commerce and new technologies. As a result, luxury retailers are forced to embrace a variety of technologies to keep their customers engaged. How do brands captivate shoppers and provide the customer experience that will satisfy their desires? Through dissemination of literature and case studies on examples from the industry, this paper presents a detailed discussion on the new approaches to customer experience in the luxury fashion industry, in the context of a modern economy that is highly shaped by disruptive technological innovations. The discussion includes two detailed case studies, focusing on two key themes that define contemporary customer expectations: the story – discussing customer’s desire to be immersed in the narratives behind catwalk collections, and the experience – discussing the use of technology to create a unique retail space through the use of online and mobile specific technologies. The first case study focuses on how new technologies provide brands with new opportunities to present their products through narratives. Using famous luxury retailers Dior, Givenchy and Prada as examples, the case study provides a detailed discussion on the use of virtual reality and augmented reality as tools that enable customers to project themselves into the story behind a catwalk show and become active characters in the narrative, through the use of technological devices. The second case study focuses on the importance of merging the online and the traditional brick-and-mortar store. “The Store of the Future”, by luxury retailer Farfetch is used as an example of how retailers make use of high-tech equipment, virtual reality and augmented reality not only to create a tech-powered interactive experience that will intrigue customers, but also to improve retail productivity by capturing customer data. The study adopts a qualitative research method to evaluate the validity of the concepts discussed in the Literature Review, using a sample of three in-depth interviews with industry experts, focusing on the use of technology to improve customer experience in physical retail spaces. Based on previously published research, it is estimated that the primary research will indicate that it is not the use of technology that drives the customer experience, but customer expectations that determine the adoption and adaptation of disruptive technologies to satisfy the shoppers’ requirements.

Parole chiave

  • customer experience
  • luxury fashion
  • technological innovation
  • experiential shopping
  • virtual reality
  • augmented reality
Accesso libero

Costs a pretty penny: how household income impacts upon motorization in Europe and raises manufacturer branding challenges

Pubblicato online: 29 Nov 2019
Pagine: 759 - 771

Astratto

Abstract

This research starts from the findings of a previous study (Roșca, 2018) and intends to develop the preceding statistical model through testing new and more elaborated hypotheses based on the recommendations for future research made in the aforementioned work. The current paper tests demographic and transportation related variables for a multiple regression carried out at a confidence level of 95%. Regression results show a valid relationship between motorization and the selected regressors. Findings further reveal that motorization rates are most strongly influenced by the gross disposable income of households per capita (H4, β = 0.010, p = 0.000). Given that three of the demographic and transportation related research hypotheses have not been supported (age, overcrowding, fatalities), it might be argued that motorization should be looked upon more as a market(ing) feat rather than as a social or psychological fact. Car manufacturers should invest more in branding and in market segmentation in order to address the right target groups and properly position themselves with the customers. Branding, hence, becomes important as it creates an emotional connection between the corporate identity of the producers and the image that customers share about it. The closer the brand identity is to the brand image, the more of an impact the brand will have upon customers to spend part of their gross disposable income for car purchases. Starting from the main finding, this article also claims that future research needs to insist more upon the economic determinants of motorization (e.g. inflation, poverty rate, available resources, unemployment rate, interest rate etc.) and to determine their influence on brand preference and car ownership. At the same time, some other demographic variables such as age or generation could be double-checked, as researches provide shattered views upon their role: while some hold them as influential, others subjugate them to the economic determinants.

Parole chiave

  • motorization
  • vehicle ownership
  • household
  • public transportation
  • mobility
Accesso libero

Game mechanics and aesthetics differences for tangible and intangible goods provided via social media

Pubblicato online: 29 Nov 2019
Pagine: 772 - 783

Astratto

Abstract

Companies aspire to fulfil consumers’ needs, wants and desires by offering products and services. Due to globalization and digitization, the world became a small village by facilitating the obtainability of products/services across the globe. Furthermore, the online purchasing via social platforms mirrors the traditional purchasing process. Gamification, game techniques and elements have been employed in the different domain for engaging and motivating consumers, students, end-users in numerous countries and cultures. Gamification is considered the appliance of game techniques and game elements in the non-game environment. It’s been adjusted in different models founded as a need to explore and explain variables, phenomena and theories. Game mechanics as one of the game elements are applied in different disciplines to achieve better performance, fruitful collaboration, active and enthusiastic participation, creating enjoyable, pleasurable and entertaining environment. Aesthetics are described as the sensory part that game evoke within the player. To identify the differences within consumers who purchase via social media when game mechanics and aesthetics are applied, the chi-square test for independence has been employed. The results estimate that the association between products and services as variables is not statistically significant and the relationship between them is weak or moderated. The findings of this research are useful for private companies and other interested stakeholders.

Parole chiave

  • aesthetics
  • game mechanics
  • online buying behaviour
  • products
  • services
  • social media
  • user behaviour
Accesso libero

Organising Principles for the Internationalization of Higher Education

Pubblicato online: 29 Nov 2019
Pagine: 784 - 791

Astratto

Abstract

The importance of internationalization, as a part of an institutional higher-education strategy cannot be overstated. In this paper we provide a mechanism for organizing a Higher Education Institution’s internationalization strategy, recognizing that it is globalization that is forcing higher education institutions to internationalize. We briefly discuss and evaluate existing approaches and provide a new model and taxonomy for organizing strategic responses to higher education globalization in more detail. This model offers a classification scheme suitable for a variety of higher education institutions wherever located at different stages of their development.

Parole chiave

  • Higher Education
  • Internationalization
  • Globalization
  • Strategy
Accesso libero

Towards a smart, inclusive and sustainable development. Investment in human capital and innovation. An empirical analysis

Pubblicato online: 29 Nov 2019
Pagine: 792 - 803

Astratto

Abstract

The importance of a smart, inclusive and sustainable development as well as their main determinants had benefit in the last decades of an emergent attention both in the current evolution of the mix set of socio and economic policies as well as in the theoretical and empirical research development. The paper focuses on the role of investments in human capital and innovation, two closely interrelated variables, for a smart, inclusive and sustainable development, within the European Union countries. Our main research results show that, at the EU level, there are significant differences between less inclusive and sustainable developed countries and, correspondingly, between more inclusive and sustainable developed countries in terms of investments in human capital (expressed by the Global Human Capital Index and tertiary educational attainment), on one hand, and the national innovation systems performances (as illustrated by the Summary Innovation Index and R&D intensity), on the other hand. Moreover, the correlation and regression analysis results suggest that existing gaps between inclusive and sustainable development, manifested at the EU level, can be explained by the level of human capital optimization and innovation performances. Therefore, more attention have to be paid to take some specific actions, especially in the less inclusive and sustainable developed countries (such as Romania, Greece, Spain, and Portugal, called also emergent countries) in order to improve innovation performance and the leverage of the human capital for the benefit of both individuals’ themselves and of the whole economy for increasing the inclusiveness and sustainability of development.

Parole chiave

  • investments in human capital
  • innovation
  • inclusive and sustainable development
  • EU
Accesso libero

A balanced approach: Brexit from political and business perspectives

Pubblicato online: 29 Nov 2019
Pagine: 804 - 816

Astratto

Abstract

There is a considerable amount of publications written on rolling back the EU supra state, national sovereignty regain, and strategic (mis)conceptions for analysing Brexit scenarios for both the UK and the EU. Many articles present a unilateral point of view with a tendency to be normative. The presentation of only one-sided political, historical, and business perspectives can be very dangerous, limiting understanding and constructive approaches. This also happens with macro-economic analyses that are used fit for purpose. David Cameron’s political calculation to call for a referendum regarding the UK’s withdrawal from the European Union has had complex ramifications. With causes that have led to the British citizens’ decision that range from multiple crises in the European Union, member states’ inability for burden and risk sharing, to the lack of trust portrayed by European institutions and a confusing internal rhetoric. With a City of London remaining undecided and continuously evaluating the value at risk of Brexit, and in the absence of a new European financial center, it is important to make sense of the arguments of both in and out supporters. Thus, this article attempts to present a more integrated approach, spanning across politics, trade, private businesses and social attitudes. This paper looks beyond international relations between nations and takes into consideration the international relations between corporations and their business strategies.

Parole chiave

  • Brexit
  • Trade
  • European Union
  • Referendum
  • Euroscepticism
Accesso libero

Accounting for the future: How will corporate business models deliver sustainability?

Pubblicato online: 29 Nov 2019
Pagine: 817 - 828

Astratto

Abstract

This paper considers the information value of carbon-emissions disclosures for investors. Our argument is that Financial Institutions (FIs) do need to map the carbon-financial intensity of corporate activities so as to provide investors with higher returns on capital relative to the carbon emissions attached to this capital. Our analysis maps out carbon-financial risks in the S&P500 constituent companies that are domiciled in the US and capturing approximately 82% of the total U.S. equity market value. We examine the extent to which carbon-financial risk has already impacted on the allocation of capital (debt and equity) and market value exposure from carbon emissions in the S&P500. Our analysis of carbon generating and carbon dependent business models in the S&P 500 reveals a complex and interconnected physical-financial value chain. This new insight will force FIs to now become active investor’s rather than simply investing (or disinvesting) at a distance in order to secure a long-term decarbonisation of their portfolios. This papers also argues for new innovative disclosures such as company’s reporting their top 10 material carbon-stakeholder relations. This would help FIs understand a company’s business model in terms of carbon interdependency and inform regulatory and technical interventions thereby avoiding the possibility of a disruptive evacuation of capital from carbon-intensive business models.

Parole chiave

  • Carbon emissions
  • carbon generating and carbon dependent business models
  • carbon-financial value chains
Accesso libero

IAS 41 and beyond for a sustainable EU agriculture

Pubblicato online: 29 Nov 2019
Pagine: 829 - 839

Astratto

Abstract

Titles on IAS 41 are not very common in the literature and in this sense there is a limited understanding of the standard and the agri-business, especially when connected with accounting and sustainability. Far too many scholars when taking into consideration natural capital, place too much emphasis on abiotic products (wind, solar, etc) which have a different economic behaviour than the biotic ones (biological assets). The topic of IAS 41 is important, as agriculture is one of the strategic sectors for human living and it needs to be accounted for in careful manner. Our article connects accounting with agriculture, sustainability and non-financial reporting for an integrated perspective. There are certain intrinsic challenges that IAS 41 presents, especially when dealing with FVA, but there are also greater needs for materiality in the sustainable agricultural development in the EU legislation. Authors think that there is place for improvement whiten the standards and the future of EU farming should not leave accounting behind, making a call for a more integrated approach and understanding.

Parole chiave

  • IAS 41
  • agri-business
  • sustainability
  • non-financial reporting
  • financial reporting
Accesso libero

Was Euro the magic wand for economic growth? An analysis of the real benefits of Euro adoption for the New Member States

Pubblicato online: 29 Nov 2019
Pagine: 840 - 853

Astratto

Abstract

At the beginning of the 21st century, the European single currency has been considered a guarantor of prosperity and welfare for the countries that were able to meet the nominal convergence criteria. Starting with Slovenia, a number of five Center and Eastern European Countries joined the Economic and Monetary Union, aiming to achieve the economic prosperity of the Western countries. The concept of economic convergence has been popularized through the economic growth literature during the last century and has become more and more debated with the deepening and expansion of the European Union. The main purpose of this paper has been to evaluate whether there is any hard evidence attesting that Euro adoption accelerated the economic development and created a significant advantage for the New Member States that opted for the single currency, as compared with their peer countries. In this respect, we have studied a panel of New Member States that joined the European Union in 2004 and 2007, comprising both Euro and Non-Euro countries, and we concluded that the single currency do not necessarily guarantee higher growth rates. Moreover, we revealed that the Euro New Member States were more affected by the economic and financial crisis than their Non-Euro peers. We have also shown that there are significant discrepancies between the early adopters of the Euro and the countries that joined the Eurozone after 2004 in terms of convergence and that the differences between the two groups have expanded in the last years. Last and not the least, in order to test our hypotheses, we have compared two sister-countries: Slovakia that joined the Eurozone in 2009 and Czech Republic that has not taken until now the decision to adopt the Euro. In this respect, our results suggest that both countries had good economic performances, and for some periods Czech Republic outperformed Slovakia, mainly in terms of GDP per capita and Foreign Direct Investment. Therefore, we concluded that the single currency has not significantly enhanced the economic performances in the case of the New Member States.

Parole chiave

  • European Union
  • New Member States
  • Real Convergence
  • Slovakia
  • Czech Republic
Accesso libero

Value creation and the development of knowledge-intensive service activities in Romania’s travel agencies

Pubblicato online: 29 Nov 2019
Pagine: 854 - 869

Astratto

Abstract

This paper aims at analyzing key information regarding the value creation resulted from providing tourism services by Romanian traditional and online travel agencies in relation to the development of knowledge-intensive service activities as part of their internal operations and the usage of outsourced services. Knowledge-intensive service activities and the field of knowledge-intensive business services have gained great importance in the economy of emerging countries such as Romania. Moreover, the impact of these specialised services and activities in tourism have not been subject to many thorough domestic or worldwide researches. As a result, the study will bring a new perspective regarding the implications of innovation and investments in technology, human resources and specialized knowledge in order to develop a new form of value creation, increased customer’s confidence and high profitability for the company. In order to achieve the indicated objectives, both the theoretical and empirical studies are used. The empirical study consists in collecting secondary data such as professional reviews and dedicated studies and reports from conferences and demonstrations on the subject. Also, the conducted analysis gathers mainly quantitative but also qualitative data, by applying a particularized survey and a brief interview. The results illustrate an integrative framework of the importance gained by knowledge intensive services in the process of value-creation in a tourism agency and also the key aspects regarding the new adapted form of tourism products through dynamic packaging. This study does not only capture and details the main aspects regarding the importance of knowledge-intensive service activities in the development of tourism companies, but also highlights the main features regarding customer’s satisfaction through the concept of perceived value-in-use (PVI) and the new successful products created and provided to a complete new generation of clientele.

Parole chiave

  • Knowledge-intensive service activities (KISA)
  • Knowledge-intensive business services (KIBS)
  • Value creation
  • Travel Agency
  • Online Travel Agency (OTA)
Accesso libero

Assessment of the intellectual capital evaluation practices in Romanian IT companies

Pubblicato online: 29 Nov 2019
Pagine: 870 - 882

Astratto

Abstract

Intellectual capital started to raise and become a focal point of many businesses as they started invest in their own knowledge based activities and recognize its importance. In today’s world can be observed a more dynamic, flexible and growth oriented business environment than ever. Thus, the need for an increased amount of intangible assets in businesses lead to the recognition of the intellectual capital as a competitive advantage and strategic asset. Due to its expanding importance and relevance a significant number of measurement, valuation and evaluation methods were developed. Consensus regarding different methods was not yet reached, but all these methods are designed to help to get an approximation of the reality, thus contributing in short-term and long-term decision making. The aim of the paper is to assess the level of intellectual capital evaluation practices in multinational IT companies and IT SMEs in Romania. The study is questionnaire based and represents a mix of quantitative and qualitative research. Overall, although the challenge of intellectual capital evaluation remains significant, this study leads to the opportunity to identify evaluation patterns, best practices and a short list of useful evaluation indicators for businesses which already are or could be implemented in the near future.

Parole chiave

  • Intellectual capital
  • SME
  • multinational company
  • evaluation methods
Accesso libero

Land taxation

Pubblicato online: 29 Nov 2019
Pagine: 883 - 888

Astratto

Abstract

The process of producing agricultural goods involves natural resources, cataloged as inputs. Neutral, the most important is the land, as the primary resource among seeds, land, agricultural machinery, fuel. The present paper will analyze how the land resource is taxed, the needs and opportunities of taxation, and what are the shortcomings of this niche. The study does not aim to deal exhaustively with the legislation related issues in this sector, but has in particular sought to identify future directions of development in terms of the ability of agricultural actors to cope with the commitments they have since they are owner of agricultural land. At the same time, the information resources landowners would need to help understand and overcome the tax obstacles that they live when they want to grow through acquisitions or expansions, will be considered. Taxes, as part of fiscal policy, part of the economic policy, are established instruments, considering the level of development and the state national economy. That’s why they differ from one country to another, relative to their level of development. In low-developed countries, a smaller redistribution of the Gross Domestic Product of Taxes is observed, through the state budget, to the situation of the developed countries.

Parole chiave

  • land
  • taxation
  • agriculture
  • farms
  • Romania
Accesso libero

Voting with Your Brain or Heart, Hands or Feet? An Enquiry in the Microeconomics of Intra- and Inter- National Political Competition

Pubblicato online: 29 Nov 2019
Pagine: 889 - 899

Astratto

Abstract

This paper is an interdisciplinary analysis of the benefits and limits of political competition. We start from the economic theory of monopoly and extend its implications on matters concerning political action. If the state is defined as the institution that holds the monopoly on coercion over a given territory, are the democratic selection process (internal political competition) and the possibility open to an economic agent to leave for more economically free jurisdictions (international political competition) enough to temper its reach? By referring to the inherent limits that plague collective action, voter rational ignorance, and the possibility of redistributing benefits and incumbent decision-maker collaboration when it comes to trading votes, we argue that democratic competition cannot be considered an effective restraint against political discretion. Because of this, we consider that international political competition can offer better protection against political action. However, even the possibility of voting with one’s feet or observing the political milieu in another territory become manageable if political decision-makers decide to collude at the international level. Also, emigration is an economically costly and psychologically exacting decision that ultimately implies choosing between two state-controlled jurisdictions. Therefore, even the choice of voting with one’s feet is a second-best solution that, in practice, might not prove to be an effective restraint on the state’s monopoly discretion.

Parole chiave

  • state
  • political competition
  • monopoly
  • institutional competition
  • praxeology
Accesso libero

A trip project for more demanding clientele involving the climb on Matterhorn

Pubblicato online: 29 Nov 2019
Pagine: 900 - 910

Astratto

Abstract

Tourism is one of the areas which is constantly making progress. While 10 years ago tourists enjoyed a holiday by the sea in a beautiful resort with even more beautiful weather and clean beach, eventually winter holiday in the ski resort with regularly adjusted slope, enough snow and comfortable accommodation, today it is different. Based on a survey among the clients of the Slovak travel agency it was found out that the clients are interested in the trip involving the climb on the Matterhorn mountain which has not been offered in the proposition yet. Travel agency together with the specialized academic workplace processed the trip project for more demanding clientele to this less common destination, this means on Matterhorn mountain, accompanied by the mountain guides. This way the travel agency gained a competitive advantage because no other Slovak travel agency organizes a tour of this type. It has to be considered the safety of the participants of the trip and wind conditions in the final destination. The profit margin was established at 45%. Under the term „ demanding clientele” we mean the clients who do not long for a stay at the seaside but on the contrary they love to increase adrenaline and are not afraid to test their abilities in extreme situations. There is a competition not only among the individual travel agencies but due to access to information via the Internet there are more and more tourists who are able to arrange a demanding sightseeing trip to various countries themselves. The special exception is mountain tourism and climbing which is demanding for the accompanying services – providing mounting guides, transport of the backpacks in hilly terrain. Climbing is the risky sport, it is necessary to have a secure professional accompaniment.

Parole chiave

  • travel agency
  • trip project for more demanding clientele
  • climbing
  • Matterhorn mountain
Accesso libero

The NIMBY effect towards wind energy instalments in Romania-myth or reality?

Pubblicato online: 29 Nov 2019
Pagine: 911 - 919

Astratto

Abstract

In the past two decades wind energy has become one of the main sources of renewable energy used globally. With the expanding installments of wind turbines and wind parks, several issues have become apparent, especially in terms of closing in to human habitats, but also in terms of damages to the landscape, flora, fauna and other such issues. As more wind turbines are placed in order to achieve the global standards of renewable energy until 2020 and 2030 deadlines, a main issue of the NIMBY effect has also emerged, causing additional pressure on wind energy producers regarding placement, design, height and other elements of the wind turbines. The present study presents current public perceptions of Romanian residents on different placements of wind turbines, as the public becomes more aware of the new type of installments taking place today. Through the Delphi method based on interviews and questionnaires the study reveals current public perceptions and potential perspectives of the NIMBY effect in Romania. A main finding is that most respondents opposed placements of wind turbines in locations, such as residential areas, although wind turbines in Romania are generally placed in remote areas. This result reveals a public perception and consciousness regarding the protection of the human habitats against potential technological sources of discomfort, although renewable energy was perceived as a matter of interest for most participants. The relevance of the study lies in the novelty of the matter, as few studies have referred to NIMBY effects in Romania previously.

Parole chiave

  • NIMBY
  • wind energy
  • perceptions
  • wind turbine
  • renewable energy
Accesso libero

Terrorist Threats on the Economic System and Combating Financing Terrorist Organizations

Pubblicato online: 29 Nov 2019
Pagine: 920 - 932

Astratto

Abstract

The complexity of the current economic development environment in Europe, as a result of the extremist-terrorist phenomenon, coupled with the accentuation of the economic and technological differences among the world’s states, has generated and continues to generate new risks and threats to the communities of people. The attack on civilian targets in Europe, by members of criminal groups has resulted in casualties within human communities. Because some terrorist-extremist organizations are criminal groups that have a specific organization, logistics, specific training and education systems that cannot work without having material and financial resources. As a result, one of the most effective ways to fight the threat of terrorist organizations is to combat terrorism financing.

Parole chiave

  • terrorist organizations
  • economic development
  • financial fraud
  • financing of terrorism
  • Europe
  • international Organizations
Accesso libero

NGOs perspective over CSR actions in an emerging economy

Pubblicato online: 29 Nov 2019
Pagine: 933 - 944

Astratto

Abstract

In this paper we investigate the perceptions of non-profit organizations over the CSR activities and their effects in the Romanian society. By conducting a survey for a sample of 105 NGOs from the most important cities in Romania, we aim to highlight the differences between corporate reports and real effects in our society as it pertains to CSR actions conducted by companies. Over the years, in order to attain legitimacy, corporations have become more transparent and involved in social and environmental issues. In the case of Romania, many actions like this are implemented in a partnership consisting of corporations and NGOs, thus the latter becomes a very important actor in achieving sustainability for our society. The responses highlight the disparity between the reported actions and results and real effects in the community.

Parole chiave

  • CSR
  • NGO
  • sustainability
  • globalisation
  • private sector
Accesso libero

How Do High School Students Perceive the Entrepreneurial Education

Pubblicato online: 29 Nov 2019
Pagine: 945 - 961

Astratto

Abstract

Entrepreneurial education is the new must of today’s young generations. Either the teenagers or the young adults envision a career in IT&C, medicine, law or architecture, nowadays society requires from them to possess knowledge about how a business works or how it can be successfully developed. This brings up the question for curricula developers when should be introduced business education to children. For the time being, in Romania as well as in most of the European countries, they make acquaintance with the entrepreneurial education during high school. The present study wants to throw a glimpse at how pupils themselves perceive the study of entrepreneurial education and how effective is for their future to start learning about entrepreneurship concepts around the age of 16. Consequently, with the help of a quantitative research materialized in a questionnaire, the study has the objective to determine the perception of high school students in Romania about the entrepreneurial education and to evaluate its impact in a number of different matters. They have been focused primarily on the decision of their future careers and the role the teacher plays in this process. The contributions of this study could be of high importance for both curricula developers that must take into account students and market’s needs, as well as for the universities which offer business administration study programs. For the case of the universities, in order to develop coherent study programs, they need to be aware of the students’ basic level of knowledge regarding entrepreneurship and their understanding gained through the mandatory subject of Entrepreneurial Education during the high school time.

Parole chiave

  • entrepreneurship education
  • high school students
  • career orientation
  • teacher support
  • formal education
  • non-formal education
  • leadership
Accesso libero

Exploring the Concept of Crisis in Businesses: a Critical Step in the Formulation and Implementation of Crisis Management

Pubblicato online: 29 Nov 2019
Pagine: 962 - 968

Astratto

Abstract

After an initial period of ignorance of the phenomenon of crises that are experienced by businesses, a fast expanding literature is approaching this issue. However, the present authors perceive a lack of commonly agreed conceptualization and taxonomy in debating the situations when companies are facing difficulties. We explore in this paper how economic theory and management knowledge could assist escaping such challenging contexts. We argue that a narrow focus on financial indicators of the company is critical for any business decision targeting the restructuring and reorganization but the deep causes of the challenging context should be identified. We argue that crisis management has in common principles and approaches with risk management but the delimitation should be made clear. There may be organizational crisis when risk management approaches could be employed in order to deal with them but there are many instances when the approach of risk management is insufficient or even not operational. Such circumstances require a real entrepreneurial approach. We advance a coherent system of conceptualizing the crisis and differentiating crisis management from risk management.

Parole chiave

  • crisis
  • risk
  • uncertainty
  • entrepreneurship
  • business failure
Accesso libero

Assessment of Entrepreneurship and Innovation in Newcoming Romanian Entrepreurial Universities

Pubblicato online: 29 Nov 2019
Pagine: 969 - 982

Astratto

Abstract

In the dynamic changing environment, entrepreneurial universities have been playing an increasingly important role for socio-economic innovation and development. The aim of this study is to perform an analysis, involving the observation of the dimensions of entrepreneurial universities. We consider that nowadays the evaluation of universities should take into consideration the tools that school leaders, professors and students may use to evaluate teaching programs in innovation and entrepreneurship. As a result of the fact that the tertiary education institutions are appreciated by the way they relate to the social and economic needs and characteristics of the individuals, the Romanian universities are currently pursuing and trying to undergo a development process making the shift from a classical university to an entrepreneurial university. Specific literature has argued that the dynamic culture of the entrepreneurial university encourage students and graduates to new innovative and entrepreneurial initiatives and increase their employability. The purpose of the current paper is to inspire debates and actual steps to be taken so as higher education institutions in Romania to become even more competitive and support economic growth by fully embracing the role of entrepreneurial universities. Research methodology includes the application of the questionnaire conceived by the HEInnovate team in two universities from Romania, authors comparing the results through a qualitative analysis and interpretation within the European framework. Results underline a similarity between the responses among the seven pillars of HEInnovate tool, but given the area of influence we identify the gaps and propose specific recommendations for short and long-term future. The conclusions of paper area meant to enhance performance in development of innovation and entrepreneurial skills in students in North-East region of Romania, with the aim to raise the region’s competitive edge.

Parole chiave

  • innovation
  • entrepreneurship
  • entrepreneurial university
  • knowledge society
  • tertiary education
  • educational strategy
Accesso libero

The costs of cyberterrorism for the national economy: United States of America vs Egypt

Pubblicato online: 29 Nov 2019
Pagine: 983 - 993

Astratto

Abstract

In recent years cyber terrorism has become increasingly used with the globalization of technology and people’s access to high-speed internet. It takes place exclusively in the online environment, the advantage being that it offers an increased level of anonymity to users. Terrorist groups are targeting the misappropriation of social media accounts, focused on Distributed Denial of Service activities, exploiting communications services and banking services for fraudulent misappropriation of financial accounts. Cyberterrorism generates very high costs for the national economy, such as the involvement of specialists for detecting and correcting intrusion, declining productivity and income, costs of information theft, regaining the reputation of an institution or company, the costs relating to the resumption of production and the provision of services, the loss of information concerning intellectual property, financial manipulation using stolen information, the cost of securing computer networks and assuring them in the event of intrusion, costs generated by the time spent on recovering stolen data. In 2018 both the US and Egypt took action on these activities, the US modified its national cyber strategy and Egypt adopted the new law project to combat cybercrime. The main cyber threats they face are: threats of intrusion and sabotage of IT infrastructures, cyberterrorism and cyberwar, threats to digital identity and theft of private data, malware programs. The targets of the attacks were public sector entities, financial organizations, health care organizations, retail and accommodation. The reasons for why hackers attack these organizations are money-related, malware infected by emails, commercial and industrial espionage.

Parole chiave

  • communication
  • cyber terrorism
  • money laundering
  • underground economy
Accesso libero

Personal versus professional use of mobile phones in information processes at work

Pubblicato online: 29 Nov 2019
Pagine: 994 - 1008

Astratto

Abstract

Mobile phone has become today a multi tasking tool, used in the work environment for both, personal and professional purposes. On the one hand, used for personal purposes, mobile phone can bring many benefits: it reduces stress, helps to schedule time after work, helps the employee to find useful information on the Internet, etc. On the other hand, mobile phone can also have negative effects when it is used at work for personal purposes: decreases productivity at work, distracts the attention, exposes to risks employees that are working in production, etc. In what concerns the professional purposes, the benefits depend of the nature of work: keeps constant connections with supervisors and clients, employees find quick information related to working tasks, and information can be shared at any time with colleagues, etc. Of course there are also negative effects of the mobile phone used at the workplace: disturbing the activity of colleagues, non-dissipation of information to others in a timely manner, etc. In this paper we present some preliminary results from a study that highlights both, professional and personal use of mobile phones in information processes at work. The research sample has 368 respondents from different fields of activity. Based on the frequency of their use, the results indicate that, for personal purposes, text messaging applications comes on the first place, search for useful information on the Internet comes on the second place and finally, the phone calls (voice only) are on the third position. For professional purposes, at work, most employees use phone calls (voice only), then they search for useful information on the Internet, and finally, they use messaging applications.

Parole chiave

  • mobile phone
  • information processes
  • personal information
  • professional information
  • employees
Accesso libero

Alleviating energy poverty experienced by students living in private rented accommodation: The role of the housing provider

Pubblicato online: 29 Nov 2019
Pagine: 1009 - 1020

Astratto

Abstract

Students are often described as an under-reported and under-supported group of the population falling into energy poverty. Although the main drivers of energy poverty are well documented, up to this date little attention is given to housing tenure as a cause of energy poverty. This study aims to support the understanding of the motivations and barriers faced by property owners that rent accommodation to students for making energy efficiency improvements to their rented properties. With this understanding recommendations for alleviating energy poverty experienced by students living in the private rented sector can be formulated. The research conducted is based on qualitative methods; focus group discussions and interviews. Data were collected from almost 30 student landlords in seven EU countries between October 2017 and January 2018. Findings show that grants and financial incentives are key for the questioned proprietors to move to energy efficiency improvements of their property but bureaucracy burdens are a major barrier for moving forward with them. In addition, the need for stronger information campaigns on energy efficiency issues is revealed. Eventually, a number of financial, consumer protection, energy efficiency and informational measures for alleviating energy poverty experienced by students living in private rented accommodation are proposed.

Parole chiave

  • energy poverty
  • fuel poverty
  • energy efficiency
  • residential buildings
  • university students
  • housing market
Accesso libero

The scientific event – a visibility factor for the university brand

Pubblicato online: 29 Nov 2019
Pagine: 1021 - 1032

Astratto

Abstract

Events are considered to be the most personalised form of marketing, as they generate direct contact with customers and partners. Academic events aim at promoting socio-economic values by facilitating collaborative partnerships with the involvement of academics, researchers, graduates, students and representatives of the economic environment. They also aim to set up participatory networks between socio-economic actors, academic centers and research institutes, as well as between different communities at national and international level in different fields of activity. The experience offered to the participants creates a close relationship with the academic brand, which gains a human face, which positively influences the way it is perceived by the public. Through academic events, it is favored to combine ideas, generate new concepts and phenomena that are useful to society’s progress. Moreover, by debating and analysing current trends on how both the economy and the university are affected, new theoretical and practical opportunities can be identified. The main purpose of experiential marketing in academic events is to create memorable and long-lasting ties between the participants and the academic environment, as well as to generate real opportunities for socialisation and interpersonal interactions. The article will treat the results of a qualitative exploratory marketing research. It aims at clarifying and understanding the paradigm of the scientific event as a factor of university visibility. In this sense, we aimed to identify the relationship of interdependence between the scientific event and the brand of an university.

Parole chiave

  • academic events
  • experiential marketing
  • exploratory marketing research
  • marketing programme
  • academic brand
Accesso libero

Investigation into Millennials’ and Z generation’s perception over dual education systems in Romania in a tourism oriented institution

Pubblicato online: 29 Nov 2019
Pagine: 1033 - 1044

Astratto

Abstract

The importance of the development of vocational education has been highlighted by the European Commission through the communication “Rethinking education” and the one regarding the fight against unemployment among young people. Based on the study of the specialized literature, a number of relevant aspects were identified, regarding the importance of the education and training of the people in relation to the creation of new successful business models but also the importance of studying the profile, attitude and perception of future employees (Generation Z). In Brașov county, Romania, the dual education system was implemented in 2012 and since that moment, the number of both students enrolled and schools grew. This article will show the results of a study case made on the dual system school on tourism, obtained through a questionnaire addressed to students that are participating in dual training, to reveal their perception on this education system. This scientific approach aims to highlight the pros and cons according to the perception of the next employees. Most young people have problems finding their first job, and the practice in business units, specific to the dual education system, can prove to be very attractive to both them and the employers. The importance of the subject in this article derives from both the actuality and the importance of this problem, as well as the fact that in many countries, the system of dual education is relatively “young”.

Parole chiave

  • vocational
  • dual education
  • tourism
  • workforce
  • generation Z
Accesso libero

Health Determinants and Unmet Needs for Health Care- towards e-Health Systems

Pubblicato online: 29 Nov 2019
Pagine: 1045 - 1057

Astratto

Abstract

The traditional public health care system should move forward towards prevention by building a strong brand strategy. Taking into consideration the health care expenditure, the paper focuses on the analysis of heath determinants: body mass index, physical activity, consumption of fruits and vegetables, tobacco consumption, alcohol consumption, social environment in connection to the unmet needs for health care: financial reasons, distance or transportation, waiting list. In the context of the competition coming from private health care institutions, the branding strategy of the public health care system should increase customer satisfaction and trust in order to obtain customer affective commitment and awareness. The approach focuses on factor analysis used to validate the following hypothesis: H1. The main heath determinants are: body mass index, physical activity, consumption of fruits and vegetables, tobacco consumption, alcohol consumption, social environment; H2. The main reasons for self-reported unmet needs for health care are: financial reasons, distance or transportation, waiting list. Due to the rapid development of information technology, public health care systems should integrate these technological advances in their structure, with emphasize on brand strategy. The paper has the following structure: after the Introduction, the Literature review part covers issues connected to brand experience, health determinants, health care needs within the EU-28 member states. Section 3 underlines the research methodology, using factor analysis as main method of macroeconomic data interpretation. The next section includes the results of the research, while the Conclusions part focuses on the main ideas of this research, together with the limits of the current approach. However, the research has some limits caused by the availability of up to date statistics and longer time series for the analyzed variables. We intend to further develop our research by introducing in the analysis other health care related variables within the European Union member states and other countries.

Parole chiave

  • branding
  • public health care system
  • health determinants
  • health care expenditure
  • strategy
Accesso libero

An overview on the correlation between the economic status of a country and the population’s health indicators

Pubblicato online: 29 Nov 2019
Pagine: 1058 - 1069

Astratto

Abstract

In this paper, the authors aim to measure the influence of the macroeconomic indicators that characterize a national economy on some key national health indicators. The purpose is to obtain an updated evaluation of the population medical status, under the impact of either growth or economic decline. The analysis focuses especially on Romania but also on other countries, to be able to investigate comparatively national indicators and trends. Multiple data sources have been used for an in-depth analysis, to fit in an appropriate manner the purpose of the study. Static and econometric data analysis software was applied on primary data, as analysis instruments. The correlation coefficient and the regression were the tools used to obtain the study conclusions. We start from the premise that the potential of statistic data sources, combined with the processing power of the data analysis tools would be able to lead to the best result. We have also reviewed the previous studies performed on the same topic and, along with our data, the obtained conclusions should have a certain value and interest not only for current needs and utilization, but also for future researches. The authors are aware of the direct influence between the macroeconomic status (or performance) indicators and the indicators that characterize the health of the population, and will attempt to measure the intensity of this impact on several key selected domains.

Parole chiave

  • life expectancy
  • influence
  • economic
  • correlation
  • regression
Accesso libero

Big-Data and Consumer Profiles – The hidden traps of data collection on social media networks

Pubblicato online: 29 Nov 2019
Pagine: 1070 - 1078

Astratto

Abstract

The development and increased popularity of the social media networks has changed the way consumers communicate and interact with each other. But besides the positive aspects regarding socializing, real-time communication and information sharing, the social media networks have also several disadvantages. Private data security, invasion of privacy, misuse of information are just some of the negative aspects associated to social media networks, of which many of the consumers are not aware. This paper gives an overview of the different methods in which private consumer data and consumer profiles are created with the help of social media networks. The paper focuses on three main components, namely the data provided by the consumers, the technologies that have the ability to collect data in an aware or unaware manner and the contribution and advantages of business in this process. The results show that some of the data are given by the consumer, while other are just gathered with the help of automated and intelligent systems or applications.

Parole chiave

  • data protection
  • big data
  • consumers
  • social media networks
  • cookies
  • social sharing
Accesso libero

Product versus Celebrity – An eye-tracking experiment for the determination of the attention-catcher in advertising

Pubblicato online: 29 Nov 2019
Pagine: 1079 - 1086

Astratto

Abstract

Celebrity endorsement has been frequently used in advertising as consumers are attracted and tend to imitate the behavior of the star. In the past years, celebrities have been a frequent mean of attracting the attention of the consumer towards an advertising. In an era with an over-load of information and ads, the glamour of the celebrities has had the power to increase the visibility of the advertised product. Besides the positive effects which celebrities bring to an increase of attention of the consumers, their endorsement can also have negative consequences. One of these undesired effects is the overshadowing of the advertised product by the celebrity. Consumers will have the tendency to watch the celebrity for a longer time and their attention is distracted from the advertised product. In an eye-tracking experiment we analyze the fact that the celebrity might distract the attention of the consumer from the advertised product and its logo. The results have shown that the participants have the tendency to watch the logo of a product for a longer time in advertising without celebrities. In opposition to this, in advertising endorsing celebrities, the attention is caught by the celebrity.

Parole chiave

  • celebrity endorsement
  • consumer
  • advertising
  • attention
  • eye-tracking
  • neuroscience
Accesso libero

Wellbeing in universities and Romanian quality assurance requirements; possible university strategy

Pubblicato online: 29 Nov 2019
Pagine: 1087 - 1097

Astratto

Abstract

The contemporary context of Romanian universities is neither a clear nor a stable one: a lot of pressure is put from different external entities, such as ministries, quality assurance institutions, rankings, employers, students and staff. Wellbeing is not a new concept, but it is not yet considered useful and manageable for higher education institutions struggling with scarcity of resources when priority always means research visibility. Scientific literature include more studies dedicated to wellbeing in schools, mainly kindergarten and primary school. This paper will prove that even Romanian universities can develop and implement a wellbeing services strategy. The research methodology is based on the literature review as well as a comparative study on the status of different high ranked universities, according to some wellbeing dimensions; it is also based on the results of a questionnaire-based research on students’ perception about the current institutional situation and the possibility of improving the existing state. The research questions are: What do we understand by wellbeing service? Do Romanian universities need a wellbeing strategy to improve the students’ services? What are the main elements to build such a strategy? The research is based on the following objectives: understanding the wellbeing concept in general and in Romanian university context, describing the gap between students’ services already provided and needed students’ services, identifying the main elements for building a wellbeing strategy. Main results of the paper refer to a draft of strategy model and practical solutions/measures to implement it.

Parole chiave

  • wellbeing
  • strategy
  • student experience
  • student service
  • quality assurance
Accesso libero

Marketing communication in Tourism Connection challenges in new service sectors

Pubblicato online: 29 Nov 2019
Pagine: 1098 - 1107

Astratto

Abstract

The drive for sensational, adventurous and unique experience is a growing tendency in contemporary society. Services adapt to this demand and communication is a main tool of support for these redefined services. Communication can redefine every known type of service by shaping expectations regarding interaction among parties, place of action, time of use, management methods, results and purpose of the information. The mass tourism is evolving into a variety of forms and one of the segments growing in importance is the Adventure tourism which requires, along with the complex and demanding activity, a more specific and canalized interaction on all levels and in all stages. The perception of an activity or a place, the gained support, the safety measures, emergency situations and general opinion are results of the marketing communication. This study observes the Adventure market in terms of reasons, types and trust, by leading a qualitative exploratory research and in-depth interviews with 18 actors and participants and expressing ways of adequate addressing. Romania is a newcomer on the Adventure tourism market and provides opportunities to test approaches.

Parole chiave

  • Marketing
  • Communication
  • Adventure Tourism
Accesso libero

Influence of the educational level on the spreading of Fake News regarding the energy field in the online environment

Pubblicato online: 29 Nov 2019
Pagine: 1108 - 1117

Astratto

Abstract

For the last couple of decades, the social and economic dynamics of our society have evolved in an exponential rhythm creating innovation and new opportunities which contribute to social welfare and comfort. Unfortunately, this continued progress, especially in the field of digitalisation, is also accompanied by challenges. One of these refers to cybersecurity and the uncontrolled spreading of fake content. The emergence of the Internet, alongside the development of new communication instruments and platforms, has determined major changes in the way people interact with each other. Moreover, the structure of the online environment facilitates the spreading of unverified or false content. Even specialized fields like the wood industry, the banking sector, the pharmaceutical industry or the energy field can become targets of misinformation campaigns, implemented in the online environment. Furthermore, in a context in which, in recent years, major political, economic and social events have been negatively influenced by the dissemination of fake news, the combat of this phenomenon has become a priority on the European Agenda. This fact is being reinforced by the growing number of scientific articles and researches that address this issue, but also by the budget of almost 5 million euro allocated in 2018 by the European Union for the combat of misinformation and false news. In this regard, it is important to better understand the factors that determine the appearance and spreading of fake news. By analysing the roots, the main sources and the patterns of fake news, we will be able to elaborate efficient tools in order to fight against the spreading of this phenomenon. The objective of this study is to analyse if the educational level of online users is one of the factors which directly influences the acceptance and the spreading of fake news, especially when dealing with specialized content such as information regarding the Romanian energy field.

Parole chiave

  • Fake news
  • misinformation
  • social media
  • educational level
  • energy
Accesso libero

Improving the lean logistic operations management in transportation by introducing the RFID system

Pubblicato online: 29 Nov 2019
Pagine: 1118 - 1129

Astratto

Abstract

Radio Frequency Identification Device (RFID) gained a lot of attention lately, due to the technology revolution, namely the IoT of things, which allowed a wide range of applications in the manufacturing and service sectors. The research reflects the importance of using the RFID tracking system in the supplier’s distributions operations, by reducing the level of inventories’ movement, increasing accuracy in depicting in a timely manner the shipping freight, with no paperwork inaccuracies. In this regard, the methodology is based on a semi-structured interview with managers of transportation companies who have provided information of the transportation performance in both cases of use or not use of the RFID technology. The paperwork mistakes and shipping delay were the indicators registered. In this matter, SPSS quantitative methods, Pearson correlation and linear regressions have been applied. The tables reveal the strong bivariate correlation between the RFID systems, paperwork mistakes and shipment delays. The regression analysis underlines the positive strong correlation between paperwork inaccuracies and shipment delays which means that an increase in document mistakes will lead to a certain amount of time increase in shipping processes.

Parole chiave

  • RFID system
  • shipment delays
  • paperwork inaccuracies
  • tracking system
  • transport efficiency
  • improvement inventory operations
  • warehouse management
Accesso libero

Conceptual framework for rural business models

Pubblicato online: 29 Nov 2019
Pagine: 1130 - 1139

Astratto

Abstract

Business models have been developed to contribute to rural economic development, being used to create, deliver and capture economic and social value. The aim of this paper is to conceptualize the context of developing business models in rural areas, how these have evolved over time and what is the impact on future strategies in community development based on rural entrepreneurship. The increasing focus and attention on business model innovation has been seen among researchers in the last two decades, and several studies have been conducted to define the concept of business modeling. However, variations in business model definitions are noticeable and opinions regarding its components, structure and relationships inside a business vary as well. The literature review provided significant definitions on the key concepts on business models in rural entrepreneurship. The results of the research are to contribute in developing a framework on the understanding of various terms, such as business model, rural entrepreneurship, community development, and innovative entrepreneurship, with reference to shedding some light on conceptual meaning, purpose, methodology and scope of application. Capturing the existing trends in economic development in rural areas could be performed, based on the literature reviewed in this paper, in order to analyze the potential for diversification of economic activities, by finding the business models already implemented in the rural communities and measuring the impact they had on community development. In this way, a structure for a business model and an emphasis on business opportunities for the rural areas of interest could be developed.

Parole chiave

  • rural entrepreneurship
  • community development
  • rural area
  • business models
  • social entrepreneurship
  • social economy
Accesso libero

New Energy Policies for Smart Cities - a Comparison among Smart Cities in the European Union

Pubblicato online: 29 Nov 2019
Pagine: 1140 - 1149

Astratto

Abstract

Given the current challenges of climate change our society is dealing with at a global level, the European Union develops a new energy policy based on clean energy. The package “Clean Energy for All Europeans”, which has been adopted by the European Commission in 2016, contains measures for a new energy policy at the level of the European Union, based on promoting an Energy Union by following a harmonized framework and common objectives. Considering this European policy debate an interesting topic, the present paper deals with the research question what will be the reaction of the business environment to the energy policy measures proposed by the European Commission in terms of innovation. Indeed, it focuses on innovative solutions based on clean energy, that will arise for achieving the three dimensions of social, economic and environmental sustainability, such as smart cities. The initiative of helping the development of smart cities is currently supported by the European Commission in the project “European Innovation Partnership on Smart Cities and Communities”. Innovative measures are related to new financing schemes for the new projects, as new investments are needed for implementing innovative solutions. Case studies from different Member States of the European Union, e.g. Italy, Austria and Romania, will illustrate the concept of smart cities and their development in the European Union allowing for an in depth analysis and comparison among the different business models implemented. The present work presents a mixed method approach based on the combination of both qualitative research methods, such as multiple-case studies and quantitative methods, represented by the analysis and triangulation of data and indicators provided by European institutions. Furthermore, this study presents a multidisciplinary perspective, considering aspects of European policy, European law, business and economics.

Parole chiave

  • energy policies
  • smart cities
  • Clean Energy
  • Energy Union
  • innovative solutions in energy
  • business model
  • mixed methods
Accesso libero

Framework for developing a new model of risk classification according to the energy usage of companies

Pubblicato online: 29 Nov 2019
Pagine: 1150 - 1161

Astratto

Abstract

In the last 50 years, both the authorities and the majority of the citizens have understood the need to enforce measures to both preserve energy and reduce the costs of producing it. Nowadays, every developed country has correlated the profitability and the competitiveness of its industry with the efficient and sustainable use of energy and is therefore making conscious efforts to improve these areas. Any action program deemed to enhance energy efficiency has as main component the critical analysis of the energetic resources allocated to an activity in a given perimeter, also known as energy audit. This paper aims to develop a model of risk classification to be applied in planning and performing procedures during energy audit, which can allow a common framework to be developed in this area of audit. The stakeholders of the entity will also be offered a unitary perspective regarding the risks of the respective business, which can be helpful in their decision-making process. The research methodology of this paper consists of quantitative instruments, namely the statistical analysis of a database containing energy audit conclusions of companies in Europe. The indicators used will relate to energy savings, the number of measures implemented as a result of the audit, the percentage of energy saved from total consumption (energy efficiency) and the business line of the company. The novelty this framework will bring consists of the congruence created in the energy audit procedures of different practices and of the standardization and quality improvement in energy audit opinions. The approach of energy audits will therefore evolve towards a risk based one, rather than an analytical one. Also, we will explain the importance of energy savings for the profitability and the competitiveness of companies in the economy today, while facilitating a transparent communication with the stakeholders. This analysis is relevant especially given the fact that the cycle of 4 years after the directive of mandatory energy audit has been enforced ends with 2018 and a conclusion can be drawn before the new audit period starts in 2019.

Parole chiave

  • energy
  • audit
  • risk
  • classification
  • assessment
  • framework
  • stakeholders
Accesso libero

Time to act: discourse on time in crowdfunding for social entrepreneurship project

Pubblicato online: 29 Nov 2019
Pagine: 1162 - 1172

Astratto

Abstract

The context of public governance outsourcing social services and constantly downshifting its role creates the premises for increasing impact of crowdsourced social entrepreneurship and grassroots mobilization. The study envisions the innovative concept of social entrepreneurship by crowdfunding through a sports event, with Swimathon as study case, where most of Romanian NGOs are active to promote their calls for fundraising. Swimmer-participants are fundraisers who take on a challenge (e.g. swimming a target distance) with the aim to raise funds, in teams, for the causes they support. This fundraising event involves donors in a participative setting that combines short-term volunteering and crowdfunding. The research aims to understand practices by which crowdfunding projects grouped into categories navigate constructs on time. The ensuing research questions are as follows: What typology of time orientation do crowdfunding projects in the Romanian landscape of sports-oriented social entrepreneurship display? What do they shift, reshape, and build on in terms of time agency, time management and time empowerment? The current study seeks to uncover and chart patterns of time-bound discursive strategies that aim to attract donors for crowdfunding projects in Romania. It brings forth questions of power and influence, by explaining and synthesizing the variety of manners in which trade-offs and synergies and modelled and mapped. The thematic analysis of fundraising calls for action is structured two-fold, namely: the denotative and the connotative dimension of time. The first component reveals time agency, time use and time management as keynote discursive trends, whereas the second reveals the following categories: time and emotion, quality time and time pressure. Metaphors of time used in the discourse over sustainability appeared coupled with pressure to intervene fast. Findings gathered by connotative discourse analysis induce the idea of grassroots mobilization and individual agency to the forefront, whereas social structures of institutional support are afforded background importance. The study ends with a discussion on implications of using time cues for emerging trends in the build-up process of Romanian crowdfunding projects.

Parole chiave

  • crowdfunding
  • time capital
  • time agency
  • fundraising
  • critical discourse analysis
  • quality time
  • grassroots mobilization
Accesso libero

The possible conflict of interests existing during the exercise of the mandate of administrator or for the position of shareholder of a company by shares regulated according to law no. 31/1990

Pubblicato online: 29 Nov 2019
Pagine: 1172 - 1179

Astratto

Abstract

In order to prevent putting personal interests above the interest of the companies they manage, the legislator provided a set of legal rules of limitations of the management bodies’ and shareholders’ behavior. As such, the conflict of interests can occur either at the exact moment of their nomination in the position of management, either during the exercise of their mandate. Therefore, for such decisions that take into account personal matters, to be avoided, the legal rules contain very particular provisions in order to avoid such circumstances of acting in the detriment of the company, either through limitations of the mandate, either through very strict sanctions, including the incrimination of such deeds.

Parole chiave

  • administrator
  • mandate
  • shareholder
  • conflict of interests
  • incrimination
Accesso libero

The Long-Term Effectiveness of Advertising Driven Sales for E-Commerce SMEs

Pubblicato online: 29 Nov 2019
Pagine: 1180 - 1191

Astratto

Abstract

The digital transformation allowed for new business models to emerge. As e-commerce seems to be the future of retail, an increased number of entrepreneurs are trying to better leverage advertising in a way that leads to a sustainable business model on medium to long-term. Retail enterprises are spending huge amounts of money on search engine and social media paid advertising in order to make their products visible and thus, become more profitable. However, the academic literature suggests contradictory findings on the effectiveness of paid advertising. While it seems that for already established companies like e-Bay, shutting off paid campaigns doesn’t proportionally decrease the website’s traffic, for other large companies with more competitors the findings show the opposite, meaning that most of the traffic goes down when paid-campaigns are shut off. The aim of our paper is to assess the impact of paid campaigns on the long-term revenues of small and medium enterprises activating in e-commerce. Is investing in paid advertising at the beginning enough to build a business model that can sustain itself or does less advertising translate directly in less sales? We conduct a study for a number of Romanian e-commerce businesses in order to determine the effectiveness of paid advertising and its impact on the long-term revenue stream. Our findings contribute to the existing research through valuable data on small and medium size enterprises and can help business managers make more informed decisions when it comes to their paid advertising budget and strategy.

Parole chiave

  • online advertising
  • e-commerce
  • marketing
  • online sales
Accesso libero

Business Models and Internet of Things

Pubblicato online: 29 Nov 2019
Pagine: 1192 - 1203

Astratto

Abstract

Information technology has massively transformed the world of business over the past fifty years - first individual functional areas within companies (“first wave”), later increasingly also cross-divisional value-added processes and trade (“second wave”). Those companies that recognized the tremendous economic potential of these upheavals and consistently adapted, profited enormously - many others, however, fell dramatically. At the same time, innovative startups emerged that successfully created and occupied new markets. With the Internet of Things (IoT), the third digital wave is currently rolling up. Their impact will be enormous - both for our everyday lives and for many industries that have so far been largely spared the disruptive power of digital transformation. Accordingly, the challenges facing most companies today are: understanding more complex competition, acquiring new digital technologies, making existing offerings smart, developing new services, networking production, efficiently analyzing vast amounts of data, and building viable organizations to push all this forward. The IoT is a driver for digitization. By analyzing machine data, the use of sensors and the intelligent real-time processing of huge amounts of data in the cloud, new business models are created. With the information gained, companies are able to improve their value chain. However, one of the most difficult issues in this context for many companies is how they can further develop their existing business model or establish successful new business models that will be based on new technologies and IoT. To investigate resulting impacts, we draw on the existing business models and deduct specifics for the Internet of Things. Building on this, in order to reach the aims of the paper the authors will use a descriptive research method and a case study in order to present how new business models work with the IoT.

Parole chiave

  • Internet of Things
  • Business Models
  • DriveNow
Accesso libero

Assessing operational risk while using the logic of the included middle

Pubblicato online: 29 Nov 2019
Pagine: 1204 - 1215

Astratto

Abstract

From the Solvency II perspective, the capital requirement for operational risk is based on the application of a standard formula. The limitation imposed by this approach as well as the definition of operational risk by establishing certain types of activities (i.e. internal processes, people, systems, etc.) as generating causes does not allow, at least for the time being, the establishment of an effective way of managing the operational risk regardless of the type of strategy chosen. Any human operator involved in the risk identification and evaluation processes, within most of the organizations, would use the logic of the included middle based on Boolean binary values (i.e. true/false, 1/0, etc.). This article attempts to logically analyze the methodological impact that would result from using a logic of the included middle which accepts that an identified operational risk and an unidentified operational risk may coexist at the same time, in a risk profile, provided that the identified one is actual and the unidentified one is potential, reciprocal and alternative but never up to the 100% limit. The included middle in this approach is the transition state, which is perfectly possible in terms of defining the topological properties of the time in which the identified operational risks analyzed are assessed. The novelty of this approach is based on the fact that the logic of the included middle, which we include in research as a concept and as a tool, was one of the nudging factors that underpinned the development of the wave mechanics (e.g. Schrodinger’s Cat Paradox) and some of the quantum physics theories later, and its use has never been tested in risk management.

Parole chiave

  • Operational risk assessment
  • insurance
  • Solvency II
  • logic of the included middle
  • quantum logic
Accesso libero

The new economic good: Your own personal data. An integrative analysis of the Dark Web

Pubblicato online: 29 Nov 2019
Pagine: 1216 - 1226

Astratto

Abstract

Do you remember the times when the copyright or a patent had no economic value? Neither do I, because this happened more than 300 years ago when the printing activity took place completely free. It was the eighteenth century, when France, England, Germany and the United Kingdom realized that the author was pretty important for the state and the first regulations appeared. Exactly like the intellectual property, in the new era of technology, dynamic change and growing e-commerce, the data with personal character is the newest economic good. More and more studies and journals show that in the near future the personal information will also have an economic value since databases are so important for businesses, but also for other institutions like the police or even intelligence agencies. The current article is the first in a row of a complex research regarding the importance of the personal data in the current economy and its actual value in an organization. Further studies will be needed in order to conclude and create a model for measuring the value of personal data. This first step is a research and a detailed analysis of the current status-quo. The changes that appeared after the entry of the European directives regarding General Data Protection Regulation will be analyzed. Another significant section of the article is a close review of the personal data black market. In order to submit this aspect as clear and objective as possible, further research on the dark internet (Onion) was conducted and prices for clones of credit cards, Amazon or PayPal accounts and cloned personal documents were examined and charted.

Parole chiave

  • Personal data
  • Privacy
  • Data pricing
  • Information sharing
  • Self-disclosure
  • Personal data monetization
Accesso libero

Model of nuclear energy valuation in the context of e-mobility

Pubblicato online: 29 Nov 2019
Pagine: 1227 - 1236

Astratto

Abstract

Due to the depletion of fossil fuels and the degradation of the ecological balance, the transition of mobility to new ways of propelling means of transportation is one of the toughest themes of sustainability, debated as such and by scientific research. At the same time technological research has already proposed several forms of vehicle powering and the manufacturers have even offered the market a significant number of electrically propelled vehicles - the option with the greatest technical and economic potential for everything that will mean future transportation of people and freight. Unfortunately, the development of electrical mobility to its quasi-state is dependent on increasing the capacity of supplying enough electricity from the power industry. The objective of our study is to develop a model for the utilization of nuclear energy in view of the global expansion of e-mobility applications. In the context of increased demand for electricity - due to new e-mobility technologies and applications, nuclear power can become the most efficient and constant form of electricity generation. The research methodology is based on qualitative analyzes of new e-mobility applications and their diversification tendencies, but also on quantitative analysis based on a specialized questionnaire. The novelty of the research finds its exemplification in attempts to explain the importance of nuclear energy in the new context of climate change and at the same time proposing a hypothesis regarding the possible maintenance and / or refurbishment of nuclear power plants.

Parole chiave

  • nuclear energy
  • e-mobility applications
  • electric vehicles
  • electricity generation
  • climate change
Accesso libero

Comparative Study of Employees´ Key Competencies in Selected Health Care and Non-Health Care Organizations

Pubblicato online: 29 Nov 2019
Pagine: 1237 - 1247

Astratto

Abstract

The key competences of the employees are currently discussed and the open labor market. Competencies can be divided into three basic categories: knowledge competencies, application competencies and social competencies. Each work environment brings its specifics and the aim of the article is to find similarities and differences in the key competencies of employees of healthcare organizations and non-healthcare organizations. In order to achieve the objective of the article, a questionnaire survey was used, involving 791 respondents from healthcare organizations and 647 nonhealthcare organizations. In total 1438 questionnaires were evaluated. The research was conducted from May 2017 to September 2018. The first phase of the research was conducted through semi-standardized interviews with 73 representatives of healthcare organizations and 69 representatives of non-healthcare organizations. Qualitative research was attended by representatives of the personnel department, respectively human resource management department. The second stage of the research was followed by quantitative research. Quantitative research was conducted from January 2018 to September 2018. Key competencies were selected on the basis of importance, and the author of the article deals with those that respondents have identified as most important for their work. Here we can find the first differences in the identification of key competencies in healthcare organizations and nonhealthcare organizations. Respondents of healthcare organizations have identified as the most important the ability to communicate, the ability to learn, teamwork, reliability, dedication to work, empathy, emotional maturity and work under stress, while non-healthcare organizations respond as key communication skills, IT skills, creativity, team work, reliability, emotional maturity, and work under stress. Three research hypotheses have been identified. The research hypotheses were verified using the Two-sample t-Test statistic for equal means.

Parole chiave

  • competence
  • healthcare organizations
  • non-healthcare organizations
  • knowledge competencies
  • application competencies
  • social competencies
  • Czech Republic
Accesso libero

Setting up a new business – evidence from a business administration faculty

Pubblicato online: 29 Nov 2019
Pagine: 1248 - 1260

Astratto

Abstract

In the last decades, entrepreneurship in all of its complexity, as a basis for sustainable development, has become a major concern for a variety of socio-economic agents: legislative systems, production systems represented by entrepreneurs from all economic sectors, and education and research systems. As a result, numerous fields of studies which aim to develop an entrepreneurial spirit among youth and to prepare students for entrepreneurship have been introduced in the educational curricula starting with high school. One of the missions of the Faculty of Business Administration in foreign languages (FABIZ) from the Bucharest University of Economic Studies is to ensure that students gain the competencies and abilities necessary for being able to open a business and become interested in a career as entrepreneurs. However, discussions with the students from FABIZ showed that only a small percentage of students are planning or have already become entrepreneurs (approximately 5% which, for some researchers such as Fayolle and Filion (2016) is considered an optimal figure). This study aims to explore the degree to which FABIZ students, with a focus on the French section, are entrepreneurs or, at least, are interested to become entrepreneurs in the near future and to analyse their fields of interests, hopes and fears, i.e. their perception of their own career.

Parole chiave

  • business
  • entrepreneurship
  • entrepreneur
  • market
  • job
  • profession
Accesso libero

The analysis of the response from tertiary education programs to the challenges of the Fourth Industrial Revolution

Pubblicato online: 29 Nov 2019
Pagine: 1261 - 1266

Astratto

Abstract

One can find at the level of the specialized literature a heated debate on the metaphor that defines the status of the international economy and human society. Some analysts argue that the Third Industrial Revolution is currently undergoing an advanced stage, while others claim that due to the speed, scale and impact of the transformations that have taken place, the fourth industrial revolution has already begun. This paper analyzes how the artificial intelligence, personalized medicine, virtual reality or the internet of things are a few motors that fueled the advance to the Fourth Industrial Revolution and their impact on cognitive competencies, skills and abilities to guarantee tertiary education programs. The main analytical hypothesis is that technology is the one that encourages humanity to accelerate and focus on changes in other areas, especially that the risk of increasing gap between technological advance and in areas such education appears. The paper examines the concrete way in which transformations that follow a symbiosis of man with technology contribute to the configuration of a new paradigm to which the educational environment has to face with. The paper aims also to highlight the main challenges of the educational environment in relation to the fourth industrial revolution, and what are the necessary transformation for a good correlation of the human capital with technological progress. Emphasis is on new sets of skills, creativity, innovation, so that new business models can be developed and applied in a changing environment.

Parole chiave

  • the fourth industrial revolution
  • educational processes
  • artificial intelligence
  • new business model
Accesso libero

How important is the lesson of the correlation between advancing the globalization process and intensifying the money laundering phenomenon?

Pubblicato online: 29 Nov 2019
Pagine: 1267 - 1276

Astratto

Abstract

It is true that advancing the globalization process generates a numerous negative externality. Such a negative effect is the proliferation of financial transactions carried out at or even beyond the limits of legality and fairness. The author of this study assumes that “the greater the cross-border financial flows, the greater the money-laundering operations and negative impact on the behavior of the economic actors”. The truism related to this correlation must be deeply understood and the lessons to be delivered must be learned in time. Hidden economy is perceived as all incomes generated in legitimate way but not disclosed to tax administrations, as well as activities such as drug trafficking, gambling, smuggling and others. What distinguishes our study is Quantitative and analytical analysis and to draw conclusions based on those results, through the adoption of a digital index on economic globalization, and the adoption of another numerical indicator of money laundering with its components and weights as well. Additionally, a statistical analysis of the relationship between economic globalization and money laundering will be based on “Pearson correlation coefficient” as we are going to adopt one variable (Economic Globalization) as an independent variable and other variable (Money Laundering) as a dependent variable. The KOF index of globalization will be adopted here, and the selected countries as a study samples will be given a ranking from 1 to 15 according to their degree of economic globalization. Results of my research shows that a negative weak relationship correlation between the degree of the economic globalization of the state and the phenomenon of money laundering which is represented by the size of the hidden economy, which means that the increase of the value for the independent variable (economic globalization) leads to the decline of the value for the dependent variable (money laundering).

Parole chiave

  • Globalization
  • externality
  • money laundering
  • hidden economy
  • correlation coefficient
112 Articoli
Accesso libero

Preface

Pubblicato online: 29 Nov 2019
Pagine: i - ii

Astratto

Accesso libero

Enabling factors for the competitiveness of the Portuguese automotive industry

Pubblicato online: 29 Nov 2019
Pagine: 1 - 12

Astratto

Abstract

The Portuguese automotive industry is a relevant activity sector for the Portuguese society and economy, both in job creation and value-added generation, contributing to the country’s economic development. The automotive is a high challenge industry, with intense competition, a high number of brands, increased number of models and vehicles, tighter regulatory requirements (e.g., emissions), and the need to manage global supplier networks. To succeed in such a highly complex and interconnected industry requires firms to be globally competitive since most of the production of this industry is destined for the rest of the world through export. This research aims to investigate the factors that contribute to value creation and competitiveness of the Portuguese automotive industry. Following the literature review of competitive advantage theories, quantitative research was done through an online questionnaire with Portuguese auto industry firms, to validate the proposed research hypotheses. The statistical analysis of the results, based on the application of descriptive statistics methodologies, principal components analysis, and correlation analysis, allowed to conclude that in this industry sector, the adoption of a strategy of differentiation/focalization and the external context influence value creation. However, it was not possible to conclude if the specific characteristics of the organization influences, or not, the creation of value. From the theoretical point of view, the conclusions demonstrate the relevance of the adoption of a strategy of differentiation and focalization and the external context for the competitiveness of these firms, supporting the assumptions of Porter’s Industry Based Theory and Generic strategies. From the practical point of view, the results highlight the importance of monitoring the external context and investing in research and development, brand image and market expertise, with the aim of enhancing the value creation and competitiveness of the components, tools, and services providers firms of the Portuguese automotive sector.

Parole chiave

  • automotive industry
  • competitive strategy
  • competitiveness
  • value creation
  • Portugal
Accesso libero

The Excellence as a Habit - The Thyroid Repair

Pubblicato online: 29 Nov 2019
Pagine: 13 - 27

Astratto

Abstract

The research shows in the first part that it is possible to maintain a very good state of the human being for a long time, almost continuously. This thing is highlighted using the values of the human being general balance, while the other values are in the optimal range. The measurements were performed by means of a Bio Well device. The tested subject was the first author of this article. Different techniques were used continuously to reach this important goal. Of course, this attitude can only lead to excellence in everyone’s activity domain and also, in general, in everybody’s life. The second part of the research refers to the human being’s possibilities to send energy to the energy cover of the body to improve the human being functioning. This thing is proved by the measurements made with the help of a thermo-vision camera. A short film was made to show the temperature increase at the level of the head skin during five minutes due to the energy arrived at that zone. The third part refers of the possibility of the human beings to repair themselves. The analysis of the thyroid energy level of the measured subject by means of the Bio Well device is presented. Because the thyroid was used a little too much to improve the optimization of the human being functioning, as presented in the first part of this article, the device shows a possible future danger. Immediate measures had to be taken. Due to successive measures, the subject succeeds in bringing his thyroid energy level to a normal one, without the help of medicines. All the three types of the measurements are very original, presented maybe for the first time in the world. The general purpose of the article is to show that we can do more than we believe about our health and our level of performance.

Parole chiave

  • Excellence
  • General body balance
  • Thermo Vision Camera
  • Bio Well Device
  • Thyroid
Accesso libero

National innovative performance and sustainable development – the case of Slovakia

Pubblicato online: 29 Nov 2019
Pagine: 28 - 37

Astratto

Abstract

Innovation are considered as the engine of sustainability and economic growth. Innovations are an integral part of the business that is expressed in scientific and research activities. If a company want to gain competitive advantage, it must do the business activities in accordance with economic, environmental, social and institutional factors. Business activities in this area are reflected in macroeconomic indicators of the country. This article deals with innovations and sustainable development issues. The main goal of research is testing interaction between innovations and sustainable development through the selected indicators. Summary Innovation Index (SII) represents innovations and sustainable development is represented by the set of indicators from four areas: economic, environmental, social and institutional. The analysis is based on values of the Summary Innovation Index proposed by the European Commission to measure the competitiveness of European countries in terms of innovation activity and values of sustainable development indicators such as GDP per capita, energy intensity of the economy, migration, transport performance, greenhouse gas emissions, application of environmental management system, mining and consumption of mineral resources, etc. The research is carried out on the case of Slovakia with application of mathematical-statistical apparatus (correlation analysis). The main benefit of research lies in the identification of strengths and weaknesses of Slovakia in analysed areas and determining the expected development.

Parole chiave

  • innovation
  • sustainable development
  • Summary Innovation Index
Accesso libero

Business excellence models in higher education – innovative solutions for management performance

Pubblicato online: 29 Nov 2019
Pagine: 38 - 46

Astratto

Abstract

The present challenging environment determines organizations to differentiate themselves from their competitors finding creative solutions. Business Excellence Models (BEMs) is the appropriate instrument for organizations to create authentic competitive advantages. In dynamic and changing environments characterized by technological changes, a sustainable advantage requires strong dynamic capabilities and integrated elements of BEMs. A comparative analysis of BEMS evolution presented in the paper reflects the challenges and opportunities for further improvement in organizations. Excellence models have been used successfully also in business education. Business education reflects the added value to sound economic development, balancing social and economic interest (Emiliani, 2004). In general, it refers to competitive and motivated academic staff, quality of teaching and learning activities, leadership and management commitment, sustainability of university-business relationship, internationalization strategy and comprehensive curriculum adapted to business environment. There are a lot of environmental forces in different national environments that are placing the excellence dimension on higher education agenda. At the same time, limitations of BEMs models and the nature of higher education institutions put a lot of challenges on leadership and management of these organizations. The objective of the paper is to present and analyse the application of excellence models in higher education institutions and identify creative solutions for management performance.

Parole chiave

  • business excellence
  • higher education
  • business excellence model
  • creativity
Accesso libero

Ways to create an effective positioning of Romanian universities through identity, image and promotion elements

Pubblicato online: 29 Nov 2019
Pagine: 47 - 55

Astratto

Abstract

The process of universities positioning, as a component of educational and university marketing consists of a synergetic system composed of all the marketing and management efforts of a university as an entity inside the educational market, materialized in identity, image and promotion elements that lead to the creation of a strong brand of the university and to contribute to the consolidation of a solid reputation. The present paper aims to address the topic of effective positioning of universities, as a tool of university marketing, in a Romanian and European higher education market with increasingly complex evolutions. Taking into account the tendencies in the field of education and university marketing (eg: competition between universities in Romania, but also at European and worldwide level), the authors consider that higher education institutions have to emphasize the various elements of identity, image and institutional promotion, because current or future bachelor students, master students and PhD students want to belong to some entities with prestige and reputation, in other words, with a strong image and identity to provide them with confidence and security. The paper considers an approach on three main components: the analysis of the stage of knowledge of the higher education field, an original marketing research research and the conclusions and solutions. The research consists of a quantitative marketing research applied among the Romanian high school graduating students, regarding their perception about different elements of identity, image and promotion of some important universities in Romania. The paper aims, as a fundamental objective, to provide results that can be integrated into the marketing strategies of the universities from Romania and Europe.

Parole chiave

  • educational marketing
  • university marketing
  • brand of the university
  • institutional identity
  • institutional image
  • higher education
Accesso libero

Towards Social Entrepreneurship and Sustainable Development in Lebanon

Pubblicato online: 29 Nov 2019
Pagine: 56 - 70

Astratto

Abstract

Faced with provocation emerged from sustainable development, several states, and in specific organizations and other related social performers, are asking their tasks and desire to take dynamic perspective to social accountability. In doing this, they are faced with sustainable development challenges. Entrepreneurship constitutes the business efforts of an individual or group for earning profit and ensuring economic empowerment, while social entrepreneurship involves the business activities with an embedded social purpose focused on sustainability rather than immediate outcomes. Entrepreneurship is an important factor of economy. The development of social entrepreneurship needs a structural adjustment in the society. The principal paper aim is to investigate the social entrepreneurship role in improving sustainable development. Also, the paper will examine social entrepreneurship as an effective tool in resolving social problems, noting that social entrepreneurship analysis can provide a response to sustainable development challenges. The research focuses on addressing the current state of social entrepreneurship, entrepreneurship indicators, pillars of entrepreneurship development, business environment and entrepreneurial opportunity and signifying the practicality of dissimilar business models developed in social entrepreneurship. Surveys were conducted on fifty different organizations (banks and audit companies) to collect data. Also, SPSS system was used to analyze the data gathered, to study the relationship between sustainable development and social entrepreneurship. Evidence suggests that social entrepreneurship can play a significant role for poverty reduction, ensuring employment, economic prosperity, environmental justice, pollution free ecology, good governance, reduction of terrorism, guarantee of peace, corruption control etc., thus offering opportunities to fulfill sustainable development goals in Lebanon. We can conclude that social business models develop a basic spread that grant social entrepreneurs to participate actively to sustainable development.

Parole chiave

  • Entrepreneurship
  • Sustainability
  • Development
  • Social
  • Ecology
  • Green Society
Accesso libero

Performance, Trends and Innovations in the Current Trade Sector Context

Pubblicato online: 29 Nov 2019
Pagine: 71 - 83

Astratto

Abstract

The commercial sector and especially the food trade in Romania have expanded more and more through the medium of hypermarkets-supermarkets, online commerce, etc. thus dominating the market. The turnover and profit they make are significantly increasing, while small and medium-sized businesses in stores and traditional stores lose customers, their market share is diminishing, profitability is low, and they are confronted with big financial problems. Modern trade tends represent almost 60% of Romania’s total market, which means that small shops are losing ground in detriment of others, despite their currently large number at national level. The study, extended over a period of more than 5 years, includes a comparative analysis of the small and medium-sized enterprises in the food commerce sector of Cluj County and the supermarkets-hypermarkets in Romania. Advantages of hypermarkets - supermarkets, online commerce, etc. in relation to small and medium-sized stores are ultimately reflected in the financial performance. Following the selection of 5 financial indicators, considered by the authors to be representative of the trade sector, and their comparative analysis, one can see the economic and financial situation these small and medium retail companies are facing, if they do not change their strategy. Their disappearance from the Romanian market would result in social and economic consequences and the discontent of a segment of the population.

Parole chiave

  • financial performance
  • food trade sector
  • hypermarkets
  • traditional smaller shops
Accesso libero

Contributions of social entrepreneurship to textile waste prevention in Romania

Pubblicato online: 29 Nov 2019
Pagine: 84 - 99

Astratto

Abstract

The current system for producing, distributing, and using clothing is putting pressure on resources, pollutes and degrades ecosystems. Nowadays, when disposed of, clothing still has at least 70% of its useful life left. A different approach to the way clothes are made, distributed and disposed of is needed. Prevention of textile waste is one angle to address these challenges and is being taken into consideration by the European public bodies. Reuse is increasingly recognized as a waste prevention measure, specifically addressed in 25 of the 33 waste prevention programs of European countries but national approaches to encourage reuse are, so far weak. Though in Romania it is estimated that textile waste will be produced mainly by households by 2025, knowledge about clothing reuse stakeholders and the mechanisms of exchange is scarce. Some activity is however developed by charities, acting as social enterprises. The primary goal of this research was to understand the role of social entrepreneurship in textile waste prevention by identifying clothing reuse practices and stakeholders in Bucharest, the Romanian city with the largest number of households in Romania (10% of the total of households). By gaining concrete knowledge related to the clothing reuse initiatives, in terms of number and characteristics, moving from identifying current clothing reuse practices and mechanisms of exchange to the type of stakeholders involved, either public or private, the research contributed to modeling the circular business ecosystem in Romania. The main research question concerned the degree of involvement of social enterprises in the development of clothing reuse activities, and therefore textile waste prevention. The findings revealed a high disproportion between the number of private and public clothing reuse initiatives, most of the activities being developed by charities which to some extent act as social enterprises. The results were intended to provide information to support decision-making bodies and communities in building up a functional clothing waste prevention plan through benefiting of existing knowledge from stakeholders in the field. These results also open the pathway to public-private dialogue for highlighting and scaling up existing textile waste prevention activities.

Parole chiave

  • textile waste prevention
  • clothing reuse
  • social entrepreneurship
  • textile waste
  • waste management
Accesso libero

Entrepreneurship Business Research Skills

Pubblicato online: 29 Nov 2019
Pagine: 100 - 111

Astratto

Abstract

In recent years area of entrepreneurship has gained significant attention nationally and internationally. It is one of the main skills priorities of national governments and EU council. Traditionally associated with commercial activity, entrepreneurship has gained traction as a key competence necessary to allow society as a whole to adapt to the changing economic climate. Small and medium sized companies (SMEs) greatly contribute to employment and wealth in Europe but there are limited studies into the specific skills needs required for SMEs into the future. Skills such as problem solving, critical thinking and entrepreneurship allow learners to adapt to changes, communication, digital skills and teamwork allow learners to collaborate and exploit technology in the changing workplace. Research is a key element of entrepreneurial success, but how these skills particularly workplace-oriented ones improve entrepreneurial culture has not been widely explored in the literature. This paper explores the importance of entrepreneurship today, the skills required to allow our society to become more entrepreneurial and identifies the potential of workplace research skills to develop entrepreneurial capacity in all facets of work, particularly within SMEs. The authors collaborated on many European projects aimed at improving work and education/training of entrepreneurs. The work presented int this paper resulted from surveys conducted within these projects regarding the problems SME staff have in connection with workplace transformation and entrepreneurship education and training. From this the paper proposes a conceptual model to facilitate the development of workplace research skills which will enhance entrepreneurial capacity in SMEs. The problems discussed in this chapter will also be used within the German initiative Mittelstand 4.0-Kompetenzzentrum with the participation of one author. Companies within this program are eager to improve their workplace research skills and change the learning culture and staff behavior in connection with digital workplaces.

Parole chiave

  • Entrepreneurship
  • Business Research Skills
  • Eentrepreneurial capacity
  • Growth oriented SME business
Accesso libero

The influence of consumer protection on the satisfaction of airline passengers

Pubblicato online: 29 Nov 2019
Pagine: 112 - 124

Astratto

Abstract

In a society in continuous development, air transport is no longer a luxury, but a means of transportation for everyone. As a result of rising living standards, reducing the cost of air travel compared to other means of transport, more and more people prefer to travel by air even at short distances. The steady increase in popularity and accessibility of air transport has led, in some cases to a decrease in the quality of services provided by air transport companies and in violation of consumer rights. The evolution of consumer protection has influenced positively the quality of air transport services by imposing certain obligations and offering a very high level of security, which increases passenger satisfaction. This article aims to quantify the passanger satisfaction and how the rights and interests of travelers in Romania are protected. In this respect, the authors carried out a quantitative research done among consumers of air transport services. Through a quantitative exploratory empirical research, 110 people were interviewed. The results obtained have made it possible to determine the extent to which the airline they have called upon, succeeds in meeting their expectations and satisfying them, and their rights have been respected. At the same time, passengers’ perception of the quality of air services were also quantified. Based on the results, the authors make some recommendations to airline companies’ management: to develop effective strategies to protect the rights and interests of travelers, to permanently identify the needs of the actual customers.

Parole chiave

  • consumer protection
  • air transport services
  • air quality
  • passenger rights
  • quantitative research
Accesso libero

The Role of InteractiveTeaching Strategies in Business Education: Challenges for the 21st Century

Pubblicato online: 29 Nov 2019
Pagine: 125 - 133

Astratto

Abstract

In contemporary context, broad innovation in the education domain through the use and capitalization of interactive teaching strategies in the educational-training process can only help improve the teaching and training of younger generations in order for them to adapt and achieve performance in line with labour market challenges. The role of teachers as tutors that shape destinies towards performance and success is essential in a modern and complex society. Worldwide, training intelligent and fascinating young people is a challenge today. Success arises from the ability of teachers who have to form younger generations not to memorize and repeat information, but to build a space that is adequate for a harmonious development of excellent people who guide themselves in life according to moral values and principles. The study rely on a qualitative research, conducted on a sample of convenience, consisting of 56 respondents (students at a Business School from Bucharest, Romania). The research question raised at this point is: What is the role of interactive teaching in the educational-training process? The purposes of this study are: 1). to highlight the importance of using interactive teaching methods in business education; 2). to present the main aspects for achieving an effective didactic communication; 3). to highlight the importance of education as a means of investing in human capital; 4). to emphasize the way in which New Information and Communication Technologies influence the educational-training process; 5). to present the qualitative research findings.It was found that interactive teaching has a great importance for the whole interactive -teaching process. The ideas mentioned by the young respondents surprisingly render the issue of digitization and its effects on the educational-training process.The topic of this paper is interesting and its original content provides information for further researches in this area.

Parole chiave

  • business education
  • teaching methods
  • intellectual capital
  • interactive teaching
  • higher education
Accesso libero

The role of strategic agility in the IT sector

Pubblicato online: 29 Nov 2019
Pagine: 134 - 148

Astratto

Abstract

As we are living in a world governed by technology, the society becomes step by step more digitalized. The IT sector is now rooted both in our personal and professional lives, removing physical boundaries. Given these facts, the aim of this paper is to present an analysis of how strategic agility works hand in hand within the IT industry. Strategic agility represents a trigger for growth in this industry, contributing to its expansion and strategic business direction as part of the business environment. Thus, the objectives of the current paper are three-folded, namely: (1) what does strategic agility stands for in the IT industry; (2) how strategic agility is achieved within IT sector (3) which business areas of IT companies are impacted by strategic agility. In the journey of covering all these points, we will use mixed research methodology. The qualitative research contributes to a deeper understanding of the role strategic agility plays in the IT business. This section of the paper screens the targeted concepts of the research, acknowledging the challenges and opportunities triggered by strategic agility. The quantitative research method represented by a survey highlights through primary collected data a real case analysis of the IT industry. Various stakeholders operating in this industry bring their input to the development of this scientific paper, their opinion being sketched with the support of structured set of opened and closed questions. The findings of this research are collected and analyzed to mirror the significance of strategic agility as part of the IT industry. The paper aims to cover all the listed objectives, raising awareness of how technology is a vital strategic pillar of the business environment. Such results enhance our capacity of future value creation, enabling new opportunities for growth and innovation.

Parole chiave

  • strategic agility
  • IT
  • performance
  • strategy
  • change
Accesso libero

Stress and scenario tests in the context of a Romanian non-life insurance company

Pubblicato online: 29 Nov 2019
Pagine: 149 - 161

Astratto

Abstract

The main aim of the article is to assess the vulnerabilities and resilience of a Romanian non-life insurance company in the context of different predefined insurance stress scenarios: natural catastrophe scenario and business scenario. The natural catastrophe scenario consists in two distinct scenarios: earthquake and flood, which were carried out separately and aggregated based on three stress factors: increasing by 15% of PML, increasing by 5% of the gross best estimate claim provisions and reinsurer’s incapacity to pay. The business stress scenario was based on four stress parameters: increasing by 3 % of the claims provisions due to the inflation impact, increasing by 10% of the gross earned premium for MTPL due to the legislative changes, increasing by 15% of the claims provisions for MTPL due to the increase of frequency and severity of the losses induced by the exposure growth as a result of the lower premiums and decreasing by 10% of the ceded best estimate. The results of the stress testing shown that the insurer is more sensitive to business scenario compared to natural catastrophe scenario due to the significant exposure on the MTPL line of business. High exposure to earthquake risk is a characteristic for Romania and the stress testing results confirm the vulnerability of the insurer to the earthquake scenario (non-compliance of the solvency capital requirements), due to the biggest impact of the factor: reinsurer’s incapacity to pay. Therefore, the quality of reinsurance is very important for Romanian insurance companies to be able to manage the risks arising from the seismic events and to be compliant with the regulatory solvency capital requirements.

Parole chiave

  • Solvency II
  • non-life insurance
  • stress and scenario tests
  • SCR
  • MCR
  • own founds
Accesso libero

Operational risk assessment at investment funds level

Pubblicato online: 29 Nov 2019
Pagine: 162 - 170

Astratto

Abstract

The operational risk has been analysed quite recently, both by the academic environment and by financial entities in their practical activity. This new risk has recently been introduced into the “solvency models” provided by the Capital Requirement and Solvency legislation. The “solvency models” are absolute assessment models and are based on the idea of determining an optimal solvency ratio between the level of potential losses associated with the risks a financial entity is exposed to and the level of own funds it holds. Below this optimal ratio it is considered that, in the event of a materialization of the risk, the entity will go bankrupt. In the financial industry there is also a category of financial entities that legally cannot go bankrupt, at worst they may be affected by a galloping decapitalization. This category includes investment and pension funds. Due to the fact that investment and pension funds are managed externally, the operational risk originates at the level of the manager and produces its effects on the assets held by the fund, namely on the unit value of the net asset or on the value of the net asset in case of decapitalization. In order to assess the operational risk of the funds, different approaches to Capital Requirement and Solvency should be applied. In this respect, the classification of funds according to the level of risk to which they are exposed can be done through relative assessment models, and the determination of the loss amount caused by the operational risk can be done by indirect methods. Such relative risk assessment models can also be used by financial/non-financial entities that have legal personality, as a mechanism for controlling absolute assessment models, or as a stand-alone assessment methodology if there is no regulated methodology.

Parole chiave

  • operational risk
  • investment fund
  • pension fund
  • investment funds manager
  • solvency models
Accesso libero

The impact of lending on bancassurance activity

Pubblicato online: 29 Nov 2019
Pagine: 171 - 181

Astratto

Abstract

Due to financial crisis, and especially because of prudence in lending (retail, micro, and corporate), banks are looking for new sources of income, and bancasurance is clearly a potential source of revenue. Thus, in the financial market, the interests of two major components of it are met: banks maximize commission income, and insurers make access to the large customer base of banks. Bancassurance is a distribution channel of insurance products through bank branches, bringing important advantages for banks, insurance companies and customers. The main advantage for the bank is that earns fee amount from the insurance company, the insurance company increases customers data base and market share, the client satisfy his financial needs and requests in the same institution. Considering that in Romania, banks and insurers do not provide information on the number of insurances sold via the bancassurance distribution channel, as well as commissions obtained by banks for the insurance sale, to determine the development of bancassurance in Romania, we used the statistical data provided by the National Bank of Romania, on credit growth and data provided by The Financial Supervision Association, on the evolution of gross written premiums. Bancassurance is one of the most important insurance distribution channels, accounting for approximately 36% of the global insurance market, in 2016, Europe’s insurers generated total premium income of €1 189bn and had €10 112bn invested in the economy. Regarding to the risks of bancassurance business for banks and insurers, they mainly concern distinct capital requirements for the banking and insurance systems, which will be covered by the Basel III and Solvency II directives. This paper aims to analyze the influence of credit on the bancassurance activity in the last 5 years in Romania, the economic, political and legal factors that have a negative impact on the development of bancassurance, and also the calculating the correlation coefficient r (Pearson’s coefficient) and his result.

Parole chiave

  • bancassurance
  • loans
  • insurance
  • gross written premiums
  • credit risk
  • Pearson coefficient
Accesso libero

A Comparative Analysis of Crowdfunding in Poland and Romania

Pubblicato online: 29 Nov 2019
Pagine: 182 - 193

Astratto

Abstract

Given the difficulty to access traditional bank funding by creative businesses and start-ups, crowdfunding as an alternative way to finance innovative and creative projects has been adopted, enacted and successfully used by several Western countries, which can serve as best practice examples. However, in many countries crowdfunding is still an emerging phenomenon due to its novelty and variety, the general awareness regarding this alternative funding method being relatively low. The aim of this paper is to investigate the extent to which Poland and Romania, the two largest Central and Eastern European member states, have adopted and used crowdfunding to support innovative and creative projects and to assess the sustainability of such a novel funding method in the respective countries. The objective of the comparative analysis is to determine how the existing legal framework supports the implementation of crowdfunding activities and what crowdfunding types are being used in each country based on the existing local crowdfunding platforms, to identify and explain the main strengths and weaknesses of each of the two markets, as well as to provide a set of measures and proposals that can be adopted by the two countries in order to promote and enhance the crowdfunding phenomenon, which we argue is a factor that ensures business sustainability in creative and innovative activities carried out especially by start-up companies. Apart from the empirical analysis of legislation and platforms, the research methodology includes a survey among business students and fresh graduates of business schools, the purpose of which being to assess the level of awareness of young entrepreneurs-to-be regarding this funding method.

Parole chiave

  • crowdfunding
  • start-ups
  • creative industries
  • Poland
  • Romania
  • crowdfunding platforms
Accesso libero

Value management in Blockchain technology related projects

Pubblicato online: 29 Nov 2019
Pagine: 194 - 205

Astratto

Abstract

Because of the development of Bitcoin in recent years, the foundational technology behind it, the Blockchain technology, also begins to attract attention from international banks and companies, and entrepreneurs have developed Blockchain technology related projects not only in financial industries but also other industries. In this dynamic information economic environment nowadays, high-tech economic projects based on Blockchain are very important, and when it comes to the value management more factors have to consider. The research of value management is a long-term subject that brings benefits to projects and the analysis with Blockchain projects is very helpful for start-ups, entrepreneurs as well as stakeholders. The purpose of this study is to analyze the relationship between Blockchain technology projects and value management, and find better ways of value management in Blockchain projects.

Parole chiave

  • value management
  • Blockchain projects
  • decentralized autonomous organizations
  • value added
Accesso libero

Seeking freelancers’ motivations to adopt an entrepreneurial career – a storytelling approach

Pubblicato online: 29 Nov 2019
Pagine: 206 - 215

Astratto

Abstract

The article focuses on worldwide freelancers’ stories as explanatory resources in understanding their reasons to embrace or not an entrepreneurial career in the future. It draws upon a qualitative study related on the motivations, benefits and risks of moving from freelancing to an entrepreneurial career, where participants to the survey freely expressed their perceptions, based on their genuine experiences. Data collected during the online survey have been analyzed with NVivo12 software. This qualitative analysis software allowed us to cluster the narratives of freelancers, based on the similarity of words contained in content, on the one hand, and provided a deeper understanding of sentiments related to freelancers’ intention to turn entrepreneurs, on the other hand. Following two principles: „No need to invent or reinvent yourself” and „Real life truths have the most impact”, freelancers who accepted our invitation to the survey highlighted their visions regarding the future career paths, providing an approach to understand their choice to become or not entrepreneurs. Freelancers’ career path can be more comprehensively described, understood and communicated using their stories, so storytelling has been considered the single methodology appropriate to this study objectives. Practical implications of this qualitative research, its limitations and further research avenues are also highlighted.

Parole chiave

  • freelancing
  • entrepreneurship
  • career development
  • storytelling
Accesso libero

Creative and cultural industries in Europe – case study of the performing arts in Romania

Pubblicato online: 29 Nov 2019
Pagine: 216 - 226

Astratto

Abstract

Culture is one of the most important aspects of being human alongside education. A very interesting way of approaching the issue of culture is understanding the importance of the art in everyday life. Alan Peacock, one the first pioneers of the term cultural economy, was a man of the arts who understood the importance of culture, not only in life, but in economy. Many writers in the 1960s identified some opportunities in engaging in the cultural and arts industries. As we know, cultural goods have an economic value and an artistic value. The evaluation of artistic goods or products is made only after it is consumed by clients or customers. The world of cultural services is large and forgiving with non-professionals. The use of cultural policies in today’s European Union, United States of America and Asia is very important because of the positive spillover it causes. Creating cultural policies and dedicating funds specifically for this started in the 1980s with the implication of UNESCO. Cultural policies not only help preserve cultural site