<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The article presents the tools that enable organizations to assess the effects of improvement of the quality management system, such as internal and external audits; risk management, measures of effectiveness and efficiency of processes, evaluation of customer satisfaction, quality cost analysis; analysis of best practices and self-assessment. The effectiveness use of these tools depends on the progress of the efforts of organizations in activities related to its improvement, knowledge and skills of employees and managers, who should show the positive attitude of leadership and involvement.</abstract>

Faculty of Management, Warsaw University of Technology, Warsaw, Poland

Faculty of Management, University of Lodz, Lodz, Poland

Evaluation of the Effects of Quality Management System Improvement

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">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" xmlns="http://www.w3.org/1999/xhtml">A growing number of economic phenomena are nowadays described with methods known in physics. The most frequently applied physical theories by economists are: (1) the universal gravitation law and (2) the first and second law of thermodynamics. Physical principles can also be applied to the theory of financial markets. Financial markets are composed of individual participants who may be seen to interact as particles in a physical system. This approach proposes a financial market model known as a minority game model in which securities and money are allocated on the basis of price fluctuations, and where selling is best option when the vast majority of investors tend to purchase goods or services, and vice versa. The players who end up being on the minority side win.The above applications of physical methods in economics are deeply rooted in classical physics. However, this paper aims to introduce the basic concepts of quantum mechanics to the process of economic phenomena modelling. Quantum mechanics is a theory describing the behaviour of microscopic objects and is grounded on the principle of wave-particle duality. It is assumed that quantum-scale objects at the same time exhibit both wave-like and particle-like properties. The key role in quantum mechanics is played by: (1) the Schrödinger equation describing the probability amplitude for the particle to be found in a given position and at a given time, and as (2) the Heisenberg uncertainty principle stating that certain pairs of physical properties cannot be economic applications of the Schrödinger equation as well as the Heisenberg uncertainty principle. We also try to describe the English auction by means the quantum mechanics methods.</abstract>

Classical and Quantum Physics in Selected Economic Models

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The article points out the limited availability of practical implementation guidelines, methods and tools as one of the core issues in the widespread usage of knowledge management (KM) in organizations. The process approach is proposed as an efficient way to understand the scope of knowledge management and to plan its development or improvement, in line with organizational strategy. The role of information technology (IT) in supporting knowledge management is emphasized and key functional groups of IT systems are listed. A sample section of the detailed process model is presented for the KM resource identification master process, with a BPMN graphical visualization. Both the process model and the detailed specification of IT systems supporting knowledge management are considered by the author as complex structures that require to be hosted in a dedicated support environment. Key assumptions of a tool, named KMBoost, are outlined to show how a simple, but interactive toolset can foster the understanding and usage of the KM process model. In the concluding remarks a high level SWOT analysis of the KM process model and the KMBoost tool is conducted.</abstract>

Process Approach to Knowledge Management

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">Advancing global economic integration through the oceans, an interplay of economic, social, climatologic and technical forces are bringing the oceans to the forefront of resource development and business activity. With oceans covering over 70 percent of the Earth's surface, the future of the ocean space is increasingly being shaped by the interaction of numerous and powerful forces, most important of them being human activities. Over next 20 years, increasing uncertainty will be generated by the confluence of rapid social, cultural, technological and geopolitical changes. The rapid global increase in the production outputs of industry, agriculture and fisheries, as well as rising levels of consumption of marine products and the demand for coastal space worldwide is exerting increasing environmental pressure on the ocean. There is a need to identify more effective means to reduce the environmental impacts generated by the economic growth and its by-products. Sustainable approaches meet the needs of present without compromising the ability of future generations to satisfy their own needs. The Blue Economy concept is about the commercial development of oceans in a sustainable way. Poland's future economic security is linked with country's presence in the world ocean and successful membership in international bodies such as European Union, NATO and various United Nations maritime organizations. These factors will also determine Poland's place and its role in the global ocean economy.</abstract>

The Future of Blue Economy: Lessons for European Union

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">Presented research work relates to information systems of projects management support. The aim of the work is to propose solutions, that will help achieve improved efficiency of information systems class PMIS implementations (Project Management Information System) especially given the scope of functionalities and implementation process realization. Presented in this article research results were obtained in the analysis of projects implemented in enterprises of the sector: construction and building, service with particular emphasis on the IT industry, and investment. Summary of the article includes both the results of the research analysis and proposed directions for their further development.</abstract>

GE Company Polska Engineering Design Center, Warsaw, Poland

Functional Enhancements to Project Management Information Systems

<abstract xml:lang="en" xmlns="http://www.w3.org/1999/xhtml">The paper presents the idea of reference model of project prototyping problem for the projects that are at risk of failure. The hierarchical structure of declarative model connects two fields: functionalities of a typical service enterprise and management system of project execution in the enterprise. The functionalities as separate Constraints Satisfaction Problems (CSP) are described. CSP contains the sets of decision variables, their domains and constraints, which link these variables. The separated problems described as CSP, then in single main CSP are integrated. On the other hand, these problems can decompose into the subproblems concerning the functionalities of different fields. The open structure of model enables to solve the decision problems with different level of specificity. The decision problem can regard a query about the results of proposed decisions as well as the decisions guaranteeing the expected results. A declarative kind of proposed reference model in a natural way allows to implement its in constraint programming languages. The possibility of this approach illustrates an example.</abstract>

Faculty of Economics and Management, University of Zielona Góra, Zielona Góra, Poland

Reference Model of Project Prototyping Problem

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Foundations of Management

 The primary version of the journal is the online one.  Interdisciplinary perception and interpretation of economic phenomena that accompany the managers and enterprises in their daily work, in order to make them more efficient, safe and economic for suppliers and receivers of the products and services in the global world of technological innovation, domination of knowledge, changes of the value of money and constant market game between demand and supply, future and past.   Rejection Rate   &lt; 30%   Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 