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Managing intellectual capital and innovation of enterprise

Zarządzanie kapitałem intelektualnym a innowacyjność przedsiębiorstwa

Author(s): Agnieszka Różycka / Language(s): / Issue: 64 (1)/2013

Keywords: intellectual capital; innovation; enterprise

This article aims to analyze the importance of the intellectual capital management for the development of innovation in enterprises. Efficient management of intellectual capital can bring the company a number of benefits, it can be the basis for the construction of the company's strategy of achieving a source of competitive advantage, it should also lead to increased innovation. The paper presents the results of a study performed on a group of 2117 higher educated employees enrolled in post-graduate studies, supplementary graduate studies or participated in training programmes. Studies have been done in terms of analysis the impact of intellectual capital on innovation companies in which they are employed.

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Credit policy of the enterprise and insurance of credit risk

Polityka kredytowa przedsiębiorstwa a ubezpieczenie ryzyka kredytu

Author(s): Sylwia Bożek,Izabela Emerling / Language(s): / Issue: 64 (1)/2013

Keywords: credit policy; trade receivables; buyer credit; credit insurance

The credit policy is to manage the receivables of supply and services. Used of postponed payments causes increase of financial costs and makes difficult to hold financial liquidity. Enterprise should takes into consideration special instruments as well, in order to improve collection of money for trade receivables and financial safety. Implementing of insurance of credit risk in buyer credit in enterprises is good way improve financial safety. Buyer credit is the most frequent instrument used in sales policy enterprises.

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Valuation of intellectual capital with VAIC™

Pomiar kapitału intelektualnego wskaźnikiem VAIC™

Author(s): Karolina Beyer / Language(s): / Issue: 64 (1)/2013

Keywords: intellectual capital; intellectual capital measurement; VAIC

Management of modern enterprises requires measurement of its most valuable resource, which is intellectual capital. This task does not seem to be easy, especially because of the intangible nature of intellectual capital components. The purpose of this article is to present value added intellectual coefficient VAIC™, as one of the methods of intellectual capital measurement. The paper also presents results of studies conducted on companies listed on the Warsaw Stock Exchange on the W1G20 index. The study covers period 2009-2012 and is part of the project funded by the National Science Centre allocated on the basis of the decision DEC- -2011/01/N/HS4/06036.

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Vendor rating and selection of suppliers in industrial enterprises

Determinanty doboru i selekcji dostawców w przedsiębiorstwach przemysłowych

Author(s): Dariusz Nowak / Language(s): / Issue: 64 (1)/2013

Keywords: vendor rating; cooperation; industrial cooperation strategy; competitive position

This paper analyzes the determinants of the choice and selection of suppliers of industrial enterprises. The procedure of factor analysis allowed to reduce the number of variables affecting the choice of suppliers to the five, three of which are essential, i.e. the position and image of the company in the industry, the terms of cooperation with the level of prices and quality aspects characterized by the possession of different types of certificates and capabilities of certification of their own products and services. Extraction of these factors should both contribute to liaise with the appropriate suppliers and cost reduction connected with the selection procedures for suppliers.

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Financial and market prices of shares under the companies electrical crisis.

Sytuacja finansowa i ceny rynkowe akcji spółek elektroenergetycznych w warunkach kryzysu

Author(s): Wiesław Janik,Karolina Gałązka / Language(s): / Issue: 64 (1)/2013

Keywords: financial crisis; profitability; liquidity; debt; equity prices; electricity companies

The economic crisis, whose impact is felt on the Polish economy did not escape the sector, power. The financial situation of the largest companies involved in the production, distribution and trading of electricity traded on the Warsaw Stock Exchange has not yet significantly deteriorated. However, many symptoms indicative of increased uncertainty, ie: the demand for electricity, the price drop, drop in profitability of sales, the market price of shares of listed companies in the sector. This uncertainty adds to the risks arising from the EU's climate policy and the lack of a clear energy policy of the Polish government. The result of this situation include falling market prices of shares of companies in the sector listed on the Warsaw Stock Exchange.

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Global value chains and networks - who creates and who captures value from innovations

Author(s): Włodzimierz Rudny / Language(s): / Issue: 64 (1)/2013

Keywords: value; global value chains; innovations

Global value chains undergo the process of continuous decomposition. Vertically integrated companies are gradually converted into network structures. Processes of value creation and value appriopriation within networks may be explained using the PF1 or IO frameworks. Thus, the value capture position of a firm depends, on one hand, upon existence of dominant design, appropriablity regime and the need for complementary assets and on the other hand, upon the bargaining power of the firm

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Evaluation of intellectual capital and the impact of its structure on the strategy of small enterprises in the aviation industry

Ocena kapitału intelektualnego i wpływu jego struktury na strategię małego przedsiębiorstwa z branży lotniczej

Author(s): Katarzyna Korzyńska / Language(s): / Issue: 64 (1)/2013

Keywords: kapitał intelektualny; wskaźnik intelektualnej wartości dodanej

The article deals the intellectual capital, its components and methods of measurement. It includes a short overview of methods for assessing the intelectual capital of the organization and presents the results of the study on the measurement of intellectual capital and its impact on the strategy of the small enterprise in the aviation industry. Keywords: intellectual capital, value added intellectual coefficient.

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Barriers to the development of the SME sector with particular emphasis on the possibility of obtaning external capital

Bariery rozwoju podmiotów z sektora MSP- ze szczególnym uwzględnieniem możliwości pozyskania kapitału obcego

Author(s): Marika Ziemba,Krzysztof Świeszczak / Language(s): / Issue: 64 (1)/2013

Keywords: SME; SMEs development's barriers; external capital

Small and medium-sized enterprises encounter many barriers preventing them from functioning and development because of their specific. Capital constraints are one of the most significant barriers, especially since their activities are mainly based on SME's equity. Purpose of this publication is to identify the main barriers for small and medium-sized enterprises in terms of their development and to analyze their use of financial services as an alternative means of raising capital.

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Commercialization of innovative solutions developed under the r&d researches at the example of chemical industry.

Komercjalizacja innowacyjnych rozwiązań opracowanych w ramach prac badawczo-rozwojowych na przykładzie branży chemicznej

Author(s): Joanna Ortyl,Marek Makowiec / Language(s): / Issue: 64 (1)/2013

Keywords: commercialization of research; intellectual property protection; commercialization models; spin—off; spin-out; University of Third Generation

This paper presents a path for commercialization of research, with an emphasis on technological and technical research carried out in the chemical industry. The specificity of the chemical industry requires researchers closely linked cooperation with units of the business environment, as well as with teams specialized in legal activities, marketing and economics. Only the creation of the appropriate commercialization team provides the basis of success in the difficult path of implementation research to business practice. The paper presents the main aspects related to the protection of intellectual property and the methods of commercialization of research results carried out in collaboration with universities, which include, among others, setting up of spin-offs and spin-outs.

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Areas of the credit policy shaping the cash balance of the bank - selected problems.

Obszary polityki kredytowej kształtujące równowagę finansową banku -wybrane problemy

Author(s): Aneta Wszelaki / Language(s): / Issue: 64 (1)/2013

Keywords: credit policy; areas of the credit policy; bank; credit

At every bank creating the document concerning the credit policy carried out is principal setting every management board of the bank. The credit policy is usually understood as the set of guidelines of the functioning of the bank and should above all: to assign a task and to describe manners of their realization, to formulate hints and recommendations concerning credit activity of the bank, as well as to appoint entities which should carry her out, to determine the monitoring of events as well as results of conducted activity. Indicating areas of the credit policy of the bank, shaping the cash balance of the bank is a purpose of the article. In the article they used domestic literature was used from this scope, including scientific papers and legal documents. An analysis method was used. The article is an attempt of the answer to a question, what areas of the credit policy are transferring themselves into financial results achieved by the bank. The credit policy is always shaped in the individual way by every bank and is adapted for operating possibilities of the bank, so indicating in the article areas to which one should pay special attention at her forming/realization, is valuable.

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Create a smart organization, as the new value of the firm

Tworzenie organizacji inteligentnej jako nowej wartości firmy

Author(s): Bogusław Kaczmarek / Language(s): / Issue: 64 (1)/2013

Keywords: organization; an intelligent organization

The study contains an attempt to clarify the nature of the intelligent organization, its characteristics and the areas to which we refer intelligent organization. An additional objective of the study is to show the importance of an intelligent organization, as a theoretical model for improving the efficiency of the company, achieving success in the marketplace - and thereby increasing the value of the company, as a business entity.

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The influence of the used model of assets and liabilities valuation on the balance-sheet value of enterprise

Wpływ przyjętego modelu wyceny aktywów i zobowiązań na wartość bilansową przedsiębiorstwa

Author(s): Lucyna Poniatowska / Language(s): / Issue: 64 (1)/2013

Keywords: balance-sheetvalue of enterprise; equity; historical cost model; fair value model

The article deals with the issue of measurement of balance-sheervalueof company in terms of balance-sheetvaluation of assets and liabilities. The objective of this paper is to present the influence of the used model of assets and liabilities valuation on the balance-sheet value of enterprise. Changes in accounting especially in the area of balance-sheet valuation associated with the use of fair value to measure assets and liabilities cause that changes the information content of balance-sheet value of company. The method of critical analysis of literature and accounting standards were used to prepare this article.

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Cascading of balanced scorecards in the effective implementation of the common strategy in networking companies

Kaskadowanie strategicznej karty wyników w skutecznej realizacji przez przedsiębiorstwa sieciowe strategii wspólnej wartości

Author(s): Wanda Skoczylas / Language(s): / Issue: 64 (1)/2013

Keywords: networking business; shared values; cascading the strategy

Increase of the business complexity and value chain relationship in the effective implementation of the company creation value strategy requires presentation of cause-and-effect relationships and selection of the strategies on different business levels, not only in a general strategy perspectives. Depending on the cause and effect diagrams, centers of responsibility are distinguished, and are formulating their own strategies. A contractual networking companies requires to build such an information system, which should include communication with partners in the formulation and implementation of such strategies and control its implementation from the point of view adopted. The purpose of the article is to present assumptions of strategic scorecards of two types of corporations operating under franchise and dealer ship contract.

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Tour operators in Poland and value of tourist enterprises

Touroperatorzy w Polsce a wartość przedsiębiorstw turystycznych

Author(s): Piotr Bober,Henryk Sobolewski / Language(s): / Issue: 64 (1)/2013

Keywords: tourism industry; tour operator; market research

Trade exchange has been and always will be a factor of growth and therefore the development of many sectors business, or as a consequence of the development of the whole economy of each country. As a stimulus for economic development is the direct travel of people, mainly tourists. Tourism needs a variety of investments, which favors the development of other sectors of the economy. The aim of this paper is to present the essence and principles of functioning Polish tour operators and its place in the tourism industry. First this article describes the basic issue for the tourism industry and then made synthetic analysis of the market structure and the financial results of selected tour operators.

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The use of benchmarking in cost management to create value in the water companies in Poland

Benchmarking kosztów w zarządzaniu wartością w przedsiębiorstwie wodociągowym w Polsce

Author(s): Paweł Chudziński,Cezary Kochalski / Language(s): / Issue: 64 (1)/2013

Keywords: benchmarking; cost management

This paper addresses the question of the use of benchmarking in the water companies in Poland in terms of cost management There have been performance benchmarking projects in the world and the benchmarking project conducted in Poland. Attention is paid to the effects of cost management in companies involved in water projects benchmarking in Germany. Against the background of the projects such as benchmarking shown waterworks company in Poland applying benchmarking in cost management.

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Effectiveness of venture capital backed IPOs based on polish market

Efektywność dezinwestycji funduszy venture capital na przykładzie rynku polskiego

Author(s): Piotr Zasępa / Language(s): / Issue: 64 (1)/2013

Keywords: venture capital; IPO

The article discusses the topic of the effectiveness of the divestment process carried out by venture capital funds operating in Poland. This process is analyzed with an IPO on the Warsaw Stock Exchangein the period 1993-201 land its detailed analysis and comparing the achieved efficiency of the process to the alternative ways of exits managed by venture capital funds. The article discusses the problem of underpricing and overpricing of venture capital backed IPOs on the Warsaw Stock Exchange compared to non-venture capital backed IPOs in the period of 2003-2011.

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Professional league management in a professional sport system

Zarządzanie ligą zawodową w systemie sportu profesjonalnego

Author(s): Marcin Szwaja,Michał Klisiński / Language(s): / Issue: 64 (1)/2013

Keywords: professional leagues; professional sport; sport marketing; sports club

The article presents the problem of the organization professional sport competitions in Poland. The framework has been in the law and economic activity the professional leagues in different sport discipline. The article presents the problem of competitive dominance in the open sports system. The authors of article describe strategy of develop professional leagues in Poland.

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The role of ethics in quality management

Znaczenie etyki biznesu w zarządzaniu jakością

Author(s): Agnieszka Misztal / Language(s): / Issue: 64 (1)/2013

Keywords: quality; quality management; ethics

The article is dealing with the ethics of entrepreneurs who maintain a quality management system. It has been shown the importance of the ethics and the impact of its absence in the management on the auspiciousness of maintained quality management system. In the second part of the article are listed aspects of quality which necessitate the ethical behavior and the consequences of such an approach.

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Transformation of financial statement in valuation of enterprise processing

Przekształcenie sprawozdania finansowego w procesie ustalania wartości jednostki gospodarczej

Author(s): Iwona Kumor,Marzena Strojek-Filus / Language(s): / Issue: 64 (1)/2013

Keywords: financial statement; accounting policy; the value of enterprise; internally goodwill

The traditional financial statement is the retrospective report preper according to prudence principle where the shareholders'equity not represents shareholder value. The retrospective financial statement can be convert into report which presents shareholder value. One of the elements of such financial statement trans- formation is measurement of assets and liabilities at fair value and applying the internally generated goodwill. The paper covers the analysis of obligatory model of financial statement according to proposed by IASB and FASB changes.

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Barriers of innovative activity in malopolskie voivodeship in 2008-2010

Wpływ barier na działalność innowacyjną przedsiębiorstw przemysłowych w Małopolsce w latach 2008-2010

Author(s): Katarzyna Szopik-Depczyńska,Arkadiusz Świadek / Language(s): / Issue: 64 (1)/2013

Keywords: innovativeness; industry; region

The main objective of this paper is to identify the main factors, which are can be perceived as barriers to the implementation of new or improved products/technologies. This might affect on the regional industrial system and determine the boundary conditions to create a model structure of regional innovation network with the specificity of malopolskie voivodeship. The research was conducted in 2008-2010 on a group of 500 industrial companies in Malopolskie region.

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