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POLITICAL PARTIES AND SUPPORT OF BUSINESS IN SLOVAKIA IN 2016

Author(s): Alexander Čemez / Language(s): English Publication Year: 0

The given contribution deals with the relationship of politics and business. Concretely, it deals with programs of political parties, which entered into the National Council of Slovak republic in 2016. These political parties are: Smer-sociálna demokracia, Sloboda a Solidarita, Obyčajníľudia a nezávislé osobnosti, Sme rodina, Most-Híd, ĽS Naše Slovensko and Sieť. We analyze election programs of these political parties in the issue of support of business. Concretely, we focus on four areas: administrative load, restructuring, investment aid, taxes and levies. Among methods, which we will use in our contribution, belongs the study of sources, analysis and comparison. Among used materials are election programs of political parties.

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EVALUATION AND TREATMENT OF SELECTED RISKS IN THE SOLUTION MINING INDUSTRY

Author(s): Peter Davids / Language(s): English Publication Year: 0

Standard risk management systems are already researched on a pretty high level. Currently there is no special literature about those in the environment of solution mining of carnallite. These special risks (geological ones, risks arising in the processing plant due to its special design, financial risks) need to be addressed, evaluated and treated. DEUSA International GmbH is a potash mine situated in Thuringia / Germany, using the technology of hot selective solution mining of carnallite. Currently it is the only one in the world using this special process which is more and more going to be adopted in other projects around the world. One of the key issues is the energy intensiveness of the process. Purchase of natural gas currently ac-counts for approximately 60% of total costs. At first, this empirical case study will explore the existing risk management by documents study and by interviews, identify and evaluate selected risks and find approaches for treatment. It will be accompanied by a precursory literature review. Main goal is to contribute to improvement of the existing risk management system focusing on addressing the named special risks. The results should be useful for other carnallite solution mining projects as well.

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INNOVATIONS IN PUBLISHING IN THE PERIOD OF DIGITALIZATION

Author(s): Dana Dvořáková / Language(s): English Publication Year: 0

The present paper deals with contemporary changes in the world of entrepreneurship and economics. It explains the difference between the traditional and current cognizance of the innovation process and the related necessity of innovation of the entire business model. It is particularly focused on the field of publishing practice where the explicit phenomenon is at present digitalization. An analysis is presented of the facilities available in our country and on a global scale and summarizes and presents comments on contemporary trends in the sphere of media. The paper includes a case study of a publishing house which within the scope of the Innovation of its business model introduced on the market in addition to a well-established print journal also its tablet version. On the basis of a questionnaire distributed among readers the paper presents the results of the survey which identifies reserves and shows the specific character of digital publishing. The definition and addressing of the target group of readers and focusing of marketing activities is a very significant factor. Another significant factor of success is besides the high-Quality content also a guarantee of the optimum technical parameters of the journal related with the size of files and adaptation of the content to individual types of reading devices (tablet vs. smartphone). A frequent mistake is an excessive volume of data in a single edition which can discourage a lot of readers from downloading the file and subsequently reading it. Owing to the different display of the journal on a tablet, smartphone and desktop, the production of a tablet journal must count with and invest in three different output versions optimized for individual devices. In conclusion the paper summarizes the advantages and disadvantages of digital publishing.

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WHAT DID SAP CHANGE? A MARKET SHAPING ANALYSIS

Author(s): Burak Erkut / Language(s): English Publication Year: 0

The market for enterprise resource planning (ERP) software was analysed in the contexts of computer science, business models and history. However, the impact of SAP which has driven the ERP market was not analysed in the framework of economic theories. Especially a new direction within marketing which aims to re-connect it to markets, can be an interesting point of departure for the analysis. The analysis is based on the business history of the software firm SAP as well as a theoretical framework. The point of view of the study is evolutionary economics, which focuses on the role of innovation and knowledge generation in an open loop evolving, non-pre-determined economic system. Findings suggest that SAP's impact was mainly on agency costs, transaction costs and network effects. These three points suggest a similarity to the market shaping impact of internet economics, put forward by Dholakia and coauthors(2002).

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EXPERT SYSTEM FOR WAREHOUSE STOCK OPTIMIZATION

Author(s): Radim Farana,Ivo Formánek,Bogdan Walek / Language(s): English Publication Year: 0

Currently, many companies try to optimize their system of warehouse stock management to minimize their production costs. The optimization means mainly optimization of processes like resources adjustment, resources planning, purchasing, deliveries, sales etc. The goal is clear –not to spend too much money for stock. There are various information systems more or less successfully anticipating and predicting the quantity of resources that should be ordered. These systems usually apply prediction based on sales in the previous period. In most cases the managers can also adjust the prediction based on their knowledge and experience. But not every company has so experienced managers. Therefore, it is advantageous to have something like expert system for this. The paper will introduce an expert system which will use a knowledge-base based on managers’ knowledge and experience and other influences affecting the prediction in order to predict and propose the quantity of necessary resources that should be ordered. Individual steps and parts of the expert system are described in the paper. The proposed expert system is verified on a particular example, i.e. in practical application.

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INNOVATIONS IN THE INSURANCE MARKETING THROUGH SOCIAL MEDIA

Author(s): Claudia Hilker / Language(s): English Publication Year: 0

Social media have changed the requirements for the marketing seriously. Companies need to master new challenges that have arisen because of new media usage. This concerns the web 2.0 technologies, social media and the two-way communication between companies and customers. There are new opportunities for marketing, which require new approaches in handling, e.g. user-generated-content and risks like “shitstorm16”. Solutions may be reduction of risks and monitoring. It is a major challenge for such a conservative sector as insurance to integrate social media in their marketing in order to maintain existing customers and win new ones. They instigate changes in marketing strategy, marketing mix and processes and require a great deal of creativity in implementing them within the phenomenon of social media marketing. The paper deals with different views on social media marketing in the insurance sector using case studies on design of new processes within the innovation management, and indicating benefits in insurance business.

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DRIVERS OF SENIOR ENTREPRENEURSHIP IN VISEGRAD COUNTRIES

Author(s): Marian Holienka,Zuzana Jančovičová,Zuzana Kovacicova / Language(s): English Publication Year: 0

Senior entrepreneurship is an important topic in the context of current socio-economic challenges, such as unemployment, aging population, or low competitiveness of older generations on the labor market. Involvement in entrepreneurial efforts is a promising solution to these problems. However, Visegrad countries (Czech Republic, Hungary, Slovakia and Poland) traditionally exhibit low inclusion of senior (i.e. 55+) generation in early-stage entrepreneurial activity. Therefore, the aim of our study is to analyze the individual-level factors related to business start-up, considering the opportunity-necessity motive dichotomy. We base our analysis on Global Entrepreneurship Monitor Adult Population Survey data for V4countries for years 2011 to 2014. Our findings identify the main drivers of seniors’ involvement in early-stage entrepreneurial activity, with specific focus on common factors and differences between businesses driven by opportunity and necessity.

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INNOVATIVE MEASUREMENT OF SOCIAL VALUE BLENDING THE PUBLIC, PRIVATE AND THIRD SECTORS IN THE UK

Author(s): Jaroslava Hrabětová,John Daly,Marie Dohnalová,Steven McCabe / Language(s): English Publication Year: 0

In contemporary society there is an increasing importance attached to measuring social value and social impact organizations in the public, private and third sector create. In particular public and third sector organisations as a result of ongoing austerity measures face persistent uncertainties in regard to revenues which impact upon services and need to prove quality, efficiency, purpose and transparency for varied stakeholders including commissioners, funders grant stipulations, oversight agencies, and community. This paper presents results of three social value analyses: a) Willmott Dixon a private company in the construction and property sector (2014), b) Made in Corby third sector arts project, Northamptonshire (2015), c) West Midlands Fire Service (2015) public sector procurement pilot. The chosen quantitative methodology for social value analyses is the Social Earnings Ratio (S/E Ratio) the fastest growing metric currently being adopted in the field of social value measurement, a disruptive, social innovative metric based on international General Accounting Principles (GAP)converting sentiment into financial value. The approach has been developed by the UK based Centre for Citizenship, Enterprise and Governance (CCEG) providing a low cost, high volume measure of social impact intangibles or social value providing a single benchmark able metric of organisations across all sectors.

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MODELING AND MODERNIZATION OF DISTRIBUTION ENTERPRISE

Author(s): Natalia Izyumova,Anna Smirnova / Language(s): English Publication Year: 0

The use of the logistical approach to traditional marketing involves marketing enterprise modelling system and its permanent improvement with the advent of new counter parties (customers and suppliers), changes in competitive conditions, technological progress and other factors. The article deals with the optimization of the functioning of the intra logistics customer service system (like enterprise marketing element), which improves service quality and thereby increases customer loyalty to the enterprise at minimal cost.

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EVALUATION OF INNOVATIVE POTENTIAL OF SMES USING THE FUZZY LOGIC

Author(s): Hana Janáková / Language(s): English Publication Year: 0

In a changing business environment customer requirements are increasingly demanding supply and service growth, higher market competition and also technological developments and the globalization of business. The innovative capacity seems to be an ultimate condition for the competitiveness of all types of enterprises. The innovation potential of the company is essentially its internal characteristics. The measurement of innovation potential in SME and describe how to manage the companies’ innovation potential for reaching the business goals. To know how to measure innovation potential in SME by different approaches and methods using the artificial intelligence, for instance fuzzy logic can be applicable for innovation potential management. Fuzzy logic is a form of many-valued logic and it deals with reasoning approximate rather than fixed and exact. Because of human language response to questions fuzzy logic is useful for evaluating and transforming words or sentences to numbers for quantitative evaluation of certain human meanings. The paper focuses on a system for assessing the innovation potential of the manufacturing company using fuzzy logic. To meet the objective it is therefore necessary to identify criteria characterizing the sources of business, properly organize them and suggest ways of assessment so that it can be applied method.

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CREATION OF START CITY IN LVIV AS A MODEL FOR REGIONAL DEVELOPMENT

Author(s): Yuliia Kleban / Language(s): English Publication Year: 0

The phenomenon of a smart city is studied in the paper. Based on the experience of other countries, the smart city is considered an innovative approach to the traditional view on the urban life. The European model of smart cities is taken as the main methodology, e.g. smart economy, smart governance, smart living, smart people, smart environment, and smart mobility. There were studied the smart cities in the Visegrad countries: Czech Republic, Hungary, Poland and Slovakia. The point of view of the smart city is motivated by the regional policy that is becoming a dominative one in Ukraine. The paper discusses the structure of the smart city and its main elements. The smart city may help to spur an entrepreneurship activity in the cities of Ukraine. Thus, the smart city framework is considered in the paper as a future for the Ukrainian cities, for instance, Lviv.

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ON THE ISSUE OF THE MODERN PARADIGM OF THE MARKET STABILITY OF AN ENTERPRISE

Author(s): Tatyana Klimenko / Language(s): English Publication Year: 0

Under the modern crisis and intensification of global competition today, the main indicator of efficient activity of an economy subject is the company’s ability to meet the needs and requirements of consumers, i.e., its “marketing orientation”. The question is still open, how and to what extent the market dynamics can influence the financial stability of an enterprise and change it. Basing on the abstract-logic and comparative-analytical methods, the theoretical approaches to the content of the notion “market stability” were analyzed; the concept of “market sensitivity” of an enterprise was formulated; the dominating role of “marketing orientation” for determining enterprise’s performance results was revealed. The author proposes criteria of conceptual approach to estimating the market mobility of an enterprise. The existing approach to the content characteristics of the “market stability” notion is broadened; the company’s ability for transformation is viewed as one of the main conditions of the market stability of an enterprise; the necessity is proved to elaborate new approaches to combining and uniting the existing analytical models for estimating the enterprise’s market stability; categories of the market indicators of market stability are formulated and systematized into groups.

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INNOVATIONS AND REGIONAL ECONOMIC DEVELOPMENT IN RUSSIA

Author(s): Elizaveta Kolchinskaya / Language(s): English Publication Year: 0

To be competitive in the global economy Russia needs in production innovative products. According to the Government of the Russian Federation the innovative socially oriented model of development is the main method of long-term development of the country. The data for research were taken from Russians Federal State Statistics Service and portal of the State support of innovative development of business. The main method of this research is a production function which was constructed for the Russian manufacturing. Labour, capital, infrastructure indices (included innovations) were evaluated. I investigate 9 years (from 2005to 2014) and almost all Russian regions. The coefficients for the selected function were obtained using the correlation-regression analysis approach. The result is that the coefficient of innovation in logarithmic production function is 0,1 and it’s significant on the 1% level. One of the main factor except labor and capital is innovations that means that to increase manufacturing production in Russia the government should improve innovation infrastructure. And also two groups of regions were compared. The result is that regions with innovative clusters on their territory have a better economic indexes than regions without clusters.

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USING DIGITAL TECHNOLOGIES IN SOCIAL ENTREPRENEURSHIP

Author(s): Vojtech Kollár,Peter Polakovič,Jana Gasperová / Language(s): English Publication Year: 0

The aim of this paper is to highlight the importance of e-learning forms focusing on education in the field of social entrepreneurship. Gradually it deals with fundamental elements of digital learning - describes the methodology of e-learning, preparation of multimedia training materials and the possibility of publishing electronic content through management systems of education. Education of employees is now becoming an important instrument of employment Special emphasis on education of employees should be paid in the field of social business where employees have to eliminate their social disadvantage with knowledge and skills in order to compete in the competitive environment. Modern digital technologies bring significant changes to the education system of employees worldwide. Digital technologies help employees acquire knowledge by various senses which results in higher efficiency of education in comparison with traditional forms of learning. E-learning, blended learning, or Learning Management Systems are currently considered the effective ways of the staff training.

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THE TECHNOLOGY START-UP SCENE IN SLOVAKIA: NO WOMAN’S LAND?

Author(s): Janka Kottulová,Ľudmila Mitková / Language(s): English Publication Year: 0

Low representation of women on the technological start-up scene is broadly addressed by both academics and policy makers. While academics focus on analysing the different causes of this phenomenon (varying from gender differences in abilities and behaviour patterns, through the role of education to the gender biased funding and support mechanisms, etc.), policy makers call for the better use of talents of the ever-increasing pool of highly qualified women. This paper contributes to this discussion by providing evidence from Slovakia. To collect this evidence analysis of the web-sites of the main start-up initiatives was carried out to investigate the level and forms of women’s´ involvement in the Slovak start-up scene. Additionally, state funded programmes and tools promoting technologically oriented start-ups were evaluated to explore their potential to encourage or hinder higher participation of women in this type of entrepreneurial activities. The outcomes of the research confirmed assumption about low entrepreneurial activity of women in the technologically oriented start-ups and revealed mostly gender neutral (if not gender blind) character of existing funding and support measures. The last part of the paper therefore formulates a set of recommendations on how to make these measures more gender-inclusive.

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INNOVATIONS IN MANAGEMENT OF SOCIAL ENTERPRISES

Author(s): Kateřina Legnerová,Marie Dohnalová / Language(s): English Publication Year: 0

This paper analyses the implementation of personnel management methods and processes in social enterprises comparing to profit organizations. The main findings are based on qualitative research in the Czech Republic in years 2010 – 2015. Social businesses are economic entities, which combine market competitiveness, values, and procedures with the social goals and mission of the non-profit procedures. Among the advantages of social enterprises, we can include the ability to find innovative solutions to the social problems on the intersection of the profit and non-profit world, or the ability to combine own revenues with grants, subsidies, donations and volunteering. The mixed nature of the social enterprises puts demands on their management, on the harmonization of the care for employees and volunteers. Therefore, it is important from the perspective of long-term sustainability in social undertakings, properly implement proven personnel processes. The mixed nature of the social enterprises can create tensions between democratic, participatory management and the requirements of the effective management of the enterprise. The research confirmed that it is possible to adapt personnel management rules and processes from theories for profit organizations, with some innovations. The outputs can serve as guidelines for implementation of personnel processes in Czech social enterprises.

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INNOVATION IN SUPPLY CHAIN MANAGEMENT

Author(s): Xenie Lukoszová / Language(s): English Publication Year: 0

This paper aims to introduce the latest innovative approaches to inventory management, which can be successfully implemented in both domestic and international supply chains. The basics cientific methods used in the preparation of this article include analysis, comparison and problem synthesis as a key source of information. Secondary research was conducted on the basis of studying domestic and foreign publications on the subject. Among the factors that were also taken into consideration by the authors was practical experience drawn from business. The authors of the paper first briefly characterize the supply chain and the concept of supply chains within the context of their development. Subsequently, an insight is given into inventory management with a key focus on innovations. Nowadays, supplies constitute a major problem in managing supply chains. Making improvements to the way supplies are managed significantly improves the quality of the overall supply chain management. The innovations investigated for this purpose include the application of advanced inventory management and the technological implementation of Vendor Managed Inventory (VMI) and Collaborative Planning Forecasting and Replenishment (CPFR). The aforementioned models and logistical management technologies are within the author´s main fields of interest. An analysis of the proven advantages and disadvantages of each follows, and where relevant examples are given of companies in which these innovations have already been implemented.

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THE STRUCTURE OF VENTURE CAPITAL RAISING BY COMPANIES IN POLAND AND CENTRAL AND EASTERN EUROPE: SELECTED ASPECTS

Author(s): Joanna Małecka,Teresa Łuczka / Language(s): English Publication Year: 0

The ability to identify needs and accurately define ideas, willingness to take risks and the capability of taking up financing options available in the market are the features of every modern entrepreneur. Although capital market instruments are becoming increasingly popular, company owners still prefer classical money market instruments offered by the banking sector. Venture capital funds such as seed, start-up or later-stage venture funds are not a widespread source of development capital for most entrepreneurs in Poland and Central and Eastern Europe. This article outlines research results addressing the volume and number of funds raised in the countries of Central and Eastern Europe as well as their popularity among companies of different sizes. The results presented are based on source data from annual reports and publications that have been produced and made available by capital market institutions and from the authors’ own research on Polish entrepreneurs. The scope and volume of venture capital used by companies for development are characterised, building on a linear Regression analysis and comparisons. The article also attempts to determine the development trend of possible sources of financing through the capital market instruments (venture capital) and poses the research question about entrepreneurs’ current awareness of opportunities to diversify companies’ financial portfolios.

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COMPARATIVE ANALYSIS OF LEADERSHIP STYLES IN COMPANIES

Author(s): Milan Malý / Language(s): English Publication Year: 0

Main aim of our research was to do comparative analysis of leadership style of top managers indifferent countries, in this case in Austria and Czech Republic, because it creates the necessary preconditions for the implementation of the managerial, as well as technological innovation of the process of the real decision making. Almost 600 top managers of the companies in Austria and the Czech Republic were questioned in the framework of longitudinal data analysis and the data were computerized. According to Vroom-Yetton methodology we divide decision making styles into autocratic, consultative and participative ones and strive for identifying managers with the particular styles. Longitudinal data analysis starting in the beginning of 90ties of last century up to year 2014shows that there are very slow changes in decision-making style of top managers in the Czech Republic, as the representative of the group of post-communist countries. Comparative analysis confirmed the tendency that top managers of Czech companies tend mostly to autocratic, partly consultative decision-making style and managers of Austrian companies to consultative, partly participative styles. Faster changes and shifts for consultative or participative styles are recommended to Czech managers for improving their leadership style.

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THE INTEGRATED MANAGEMENT (IM): NEW APPROACH FOR THE ADAPTION OF THE EDUCATIONAL PROGRAMS TO MEET THE LABOR MARKET NEEDS – AN INNOVATIOVE MODEL

Author(s): Mohamed Meri Meri / Language(s): English Publication Year: 0

The integrated management, based on the balanced score cards, plays a key success role in the adaptation of the educational programs to meet the labor market needs because it combines the contribution of the partnerships between “stakeholders (managers of public and private sector, NGOs and civil society) of the labor market / educative management/teachers/ Scholars and practitioners “. This integrated management approach sets the priorities and objectives of each institution, prepares the strategies and plans, provides all means and resources required, implements all the activities and tasks, evaluates the results, and develops the operation or process for achieving the objectives and having the expected outcomes. The importance of this approach is very decisive to succeed the operations which will be integrated to be achieved in a perfect way in all of the activities. The outcomes evaluation and continuous improvement will be one of the most essential activities because it gives the legitimacy to the results and the official certificates to graduates and students according to the national or local development plans requirements. In order to succeed the activity, it should be practiced in common by (the educative management/ teachers with stakeholders of the labor market) because future graduates and students will benefit from it and they will know the real needs of Jobs profile (knowledge, skills and behaviors are required) and this will help in adapting the qualifications of graduates with the job profiles and real needs of the Labor Market. This paper presents several practical Models used by the educational management. The added value of the paper is to provide an innovative Model based on the integrated management using the Balanced Score Cards which includes the necessary components and techniques to engage all of the participants in the activities and to apply the proposed approach in practice. It combines (Innovative management /business Model / Social Entrepreneurships).

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