<abstract><title style='display:none'>Abstract</title> The goal of the article is to present the scope of changes in the morphology of business models in contemporary organizations that took place in the recent decades, because of the massive technological development, framed under the concept of “digital transformation (DT).” An enhanced business model canvas concept is used as a base for presenting the changes, with a general time cutoff set in the year 2000. For the period before and after this measurement date, key elements of the business model and the drivers of their transformation are documented in a structured form and commented, together with practical conclusions and proposed further study areas</abstract>

Digital Transformation of Business Models

<abstract xml:lang="en"><title style='display:none'>Genetic Algorithms for Solving Scheduling Problems in Manufacturing Systems</title>Scheduling manufacturing operations is a complicated decision making process. From the computational point of view, the scheduling problem is one of the most notoriously intractable NP-hard optimization problems. When the manufacturing system is not too large, the traditional methods for solving scheduling problem proposed in the literature are able to obtain the optimal solution within reasonable time. But its implementation would not be easy with conventional information systems. Therefore, many researchers have proposed methods with genetic algorithms to support scheduling in the manufacturing system. The genetic algorithm belongs to the category of artificial intelligence. It is a very effective algorithm to search for optimal or near-optimal solutions for an optimization problem. This paper contains a survey of recent developments in building genetic algorithms for the advanced scheduling. In addition, the author proposes a new approach to the distributed scheduling in industrial clusters which uses a modified genetic algorithm.</abstract>

Genetic Algorithms for Solving Scheduling Problems in Manufacturing Systems

<abstract xml:lang="en"><title style='display:none'>How to Perform Discounted Cash Flow Valuation?</title>Within the last few decades the quickly accelerating globalization processes contributed to rapid increase in the value of the global capital markets, and mergers and acquisitions transactions. This implicated the rising importance of methodologies that enable investors to efficiently value the companies. The aim of this elaboration is to present practical approach towards the discounted cash flow company valuation method, considered one of the most effective but simultaneously one of the most sophisticated among all. The article comprises purely theoretical as well as practical knowledge, based on the author's broad professional experiences.</abstract>

How to Perform Discounted Cash Flow Valuation?

<abstract xml:lang="en"><title style='display:none'>Loyalty Programs Effectiveness</title>An increasing number of loyalty programs is one of the most common phenomena observed in the practice of marketing companies on the market today. Objectives and tasks of loyalty programs determine the type of use of marketing instruments affecting the attitudes and behaviours of customers, which is aimed at the program. The diversity of factors influencing the effectiveness of loyalty programs should set the scope and object of empirical research. As the results of studies to evaluate the effectiveness of loyalty programs mainly on the B2C market is diverse in terms of the criteria. This article presents the essence of loyalty programs and the factors influencing their effectiveness.</abstract>

Loyalty Programs Effectiveness

<abstract><title style='display:none'>Abstract</title> The article covers an analysis of metrics used to measure digitalization activities. Five main levels are analyzed - moving from the metrics of the digital economy to society, industry, enterprise, and clients. The study is based on leading public and commercial metrics used for the evaluation of the digital progress. The similarities and differences between key performance indicators on each level are discussed, forming a set of conclusions on the scope and maturity of various measurement systems and potential improvement options. </abstract>

Measuring Digitalization – Key Metrics

<abstract><title style='display:none'>Abstract</title>Growing levels of regulation force financial institutions to change their business models toward lower risk levels, higher capital adequacy, service quality, and more stable revenue pools. In parallel with the regulatory changes, the banks are subject to pressure from accelerated technology development and social changes. These two factors influence the behavior of customers and induce changes in the customer relationship management (CRM). Taking the example of retail banking, the factors and their impacts are explained. Additionally, a view on the FinTech industry is presented, highlighting areas where traditional financial institutions are losing market share to technology-savvy and socially oriented new ventures with exceptional CRM capabilities. The conclusion contains proposed strategic actions that need to be undertaken in order to prepare the financial services industry for managing customer relationships in the increasingly technosocial environment.</abstract>

New Factors Inducing Changes in the Retail Banking Customer Relationship Management (CRM) and Their Exploration by the Fintech Industry

<abstract>
<title style='display:none'>Abstract</title>
This article sets its sight to allot an intelligible picture of how to optimize accounting information system (AIS) in public sector organization (PSO) for sustainable risk management (SRM) under the big data analytics (BDA) and offers in-depth understandings concerning to the role of forensic accountants’ skill (FAS) on these aforementioned interconnections. The structural equation modeling (SEM) and multi-group SEM were wielded to testify the hypothesized model rested on cross-sectional data formulated by a closed-ended questionnaire survey distributed to convenience and snowball sample of 683 respondents in PSOs. All the proffered hypotheses in the theoretical model were authenticated by the soundly statistical evidences. The observations of the current study also generated the numerous practical implications for the practitioners in organizational management and policymakers in building up the strategies and promulgating rules in relation to digital initiatives adoption, accounting practices and risk management toward sustainable development within PSOs.
</abstract>

Optimization of Accounting information System in Public Sector for Sustainable Risk Management Under Big Data Analytics. Does forensic Accountants’ Skill Generate Differences?

<abstract>
<title style='display:none'>Abstract</title>
The primary aim of this research is to investigate the relationship between strategic sustainability and firm success within the real estate sector. Specifically, it aims to assess how strategic sustainability factors, notably business strategy and management, influence sustainability performance. By exploring this uncharted territory, the study seeks to provide insights into the role of strategic sustainability in enhancing an intangible value in terms of sustainability performance. Through quantitative data gathered from the Latvian real estate industry, the research study demonstrates that greater emphasis on business strategy efforts and activities is positively associated with improved sustainability performance. Moreover, it establishes a correlation between enhanced management practices and higher sustainability performance. Ultimately, this research contributes to our understanding of how strategic sustainability can drive the long-term sustainability and success of real estate businesses, benefitting regions, nations, and the global community.
</abstract>

Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance

<abstract>
<title style='display:none'>Abstract</title>
As societal challenges grow, so does the role of universities in finding social and technological solutions. Technical universities are prominent in educating future innovators and developing desired technological and social change. This paper seeks to identify commonalities and better understand differences to develop strategies for mutual support and exchange of best practices. The methodological approach focuses on three questions concerning 1) the common understanding of transdisciplinary, 2) the diversity of transdisciplinary approaches to sustainable development, and 3) the different institutional structures that enable and promote transdisciplinary approaches to sustainability. The qualitative exploratory research suggests that a higher level of societal engagement in scientific research positively impacts societal transformation towards sustainability. This research is also a first step towards making transdisciplinary research at technical universities more visible and transparent to provide better support and create a mutual learning environment for discussing and continuously developing strategies for organizational change.
</abstract>

Transdisciplinary Research for Sustainable Development: Diverse and Best-Practice at European Technical Universities

<abstract>
<title style='display:none'>Abstract</title>
The purpose of the current study is to examine the mediating role of organizational pride on the relationship between ethical leadership and employees’ creativity. Using a convenience sample of (130) managers, heads of the department, and their employees from private hospitals in Jordan, the data were gathered by questionnaire. The current study adopted a quantitative approach. Furthermore, structural equation modeling (SEM) was used to test the study hypotheses. The current study reveals that ethical leadership has a significant and positive impact on employees' creativity. On the other side, the results of the study showed that ethical leadership has a significant and positive impact on organizational pride. Additionally, the current study also showed that organizational pride has a significant and positive impact on employees' creativity. Finally, it has been found that there is a mediation impact on the relationship between ethical leadership and employees' creativity. These findings may help the leader to focus heavily on organizational pride to foster the relationship between ethical leadership and employees’ creativity.
</abstract>

Ethical Leadership and Employees’ Creativity: The Mediating Role of Organizational Pride

<abstract>
<title style='display:none'>Abstract</title>
Organizational change (OC) initiatives require effective human resource management practices (HRMPs). This review analyzes recent research on the role of HRMPs in OC, focusing on major trends and differences between Western and non-Western contexts. A Preferred Reporting Items for Systematic Review and Meta-Analysis (PRISMA)-guided search using Scopus and Google Scholar identified 26 relevant studies. The key findings showed the varied and crucial roles that HRMPs play in communicating change goals, engaging employees, and collaborating with stakeholders. In particular, hard OC involving actions such as downsizing warrants responsive HRMPs. Although some practices transfer well across settings, implementing HRMPs in non-Western environments requires adaptation to local cultural and religious norms. The predominant focus on Western contexts underscores the need for more research in understudied regions, such as the Middle East and North Africa. The limitations of this review include potential biases in the source studies and the exclusion of nonindexed literature. We conclude by calling for an expanded investigation into evidence-based HRMPs and the complex dynamics between HRMPs and diverse types of OC across different organizational and national settings.
</abstract>

Human Resource Management Practices for Effective Organizational Change: A Review of Research in Western and Non-Western Countries

<abstract>
<title style='display:none'>Abstract</title>
Studies presented the importance of conflict costs. Cultural diversity adds more complexity to working groups, fostering conflict. The aim of this research is to investigate how cultural diversity affects conflict costs, measured in terms of lost time &amp; cost amplifiers. Data was collected through an online survey with 490 respondents for national conflicts and 185 respondents for culturally diverse conflict situations. The differences between the two groups are explored by examining their impact on conflict cost amplifiers and the costs themselves. We found that intercultural diversity increases the number of conflicts per year. However, cultural heterogeneity did not affect conflict intensity, duration or the time spent on cost variables. This research is the first one to investigate the effects of cultural diversity on different facets of conflict costs. The results demonstrate the potential, as well as the need for further research.
</abstract>

Conflict Costs in National and International Business: A Comparative Analysis

<abstract><title style='display:none'>Abstract</title> An assessment of the degree of the development of the digital economy in Poland in comparison to chosen European countries is the main purpose of the paper. The methodology of the conducted research is based on the analysis of secondary sources and applying statistical methods. In order to make the comparison in methodically correct manner, synthetic measures of the development of the e-economy were used in the form of two indexes: NRI (Networked Readiness Index) and DESI (Digital Economy and Society Index). On the basis of available statistical data, four European countries were confronted with Poland. Results of the analysis indicate a relatively unfavorable situation of Poland.</abstract>

The Level of Development of the Digital Economy in Poland and Selected European Countries: A Comparative Analysis

<abstract><title style='display:none'>Abstract</title> The paper refers to relationships between the innovativeness of an organization and its selected determinants such as strategy, corporate culture, structure and operational processes. Research was conducted among 200 managers at the top, middle and operational levels of management (200 companies operating in Poland implementing innovations - innovative companies). Conditions leading to innovations are described as the combination of processes, which result from the internal and external dynamics of a given entity. The analysis assumed that the assessment of company innovativeness would be based on an assessment of whether the company is a leader in the industry in terms of new products (the higher the rating, the more innovative the company is considered to be). The relationship between the dimensions of the company's functioning and the degree of its innovativeness was rated on the basis of two measures: the Spearman's rank correlation coefficient and the chi-square coefficient. It was assumed that the most innovative companies have structures similar to organic ones, with a weak influence of the elements of mechanistic structures. This assumption was proven in relation to features of organizations considered important for innovativeness. </abstract>

Strategy, Corporate Culture, Structure and Operational Processes as the Context for the Innovativeness of an Organization

<abstract><title style='display:none'>Abstract</title>This article highlights the application of the Preference Ranking Organization Method for Enrichment of Evaluations (PROMETHEE) I and II in selecting the best laptop model among six different available models in the market. Seven important criteria, that is, processor, hard disk capacity, operating system, RAM, screen size, brand, and color, are selected, based on which the selection process have been made. Analytic hierarchy process (AHP) is adopted for calculating the weightages of the seven criteria and PROMETHEE is applied to select the best alternative. PROMETHEE I provides the partial ranking and preferences of one model over another, whereas PROMETHEE II provides the complete ranking of the alternatives. From this analysis, Model 4 is coming out to be the best laptop model occupying the first position and Model 1 occupies the last position, thus indicating it as the worst model among the group. The objectives of this article are to select the best laptop model among six available alternatives and to understood the steps of both multiple criteria decision-making (MCDM) methodologies, that is, PROMETHEE and AHP, in details.</abstract>

Outranking Methods: Promethee I and Promethee II

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Foundations of Management

The Journal of Warsaw University of Technology

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 The primary version of the journal is the online one.  Interdisciplinary perception and interpretation of economic...