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Aligning the Core Business Area Behavior with Non-Core Business Area Behavior by Synchronizing Business Operations with Accounting Records, using a Business Process Management System

Author(s): Cornel Vintilă,Adela Cornescu,Sorina Costin / Language(s): English Issue: 2/2011

This article aims at establishing the context in which a finite repository of business processes executed within an enterprise can automatically generate manageable transactions, and after that registered and preserved in accounting records. Typically, the actual enterprise software architecture starting from a sum of functionalities, can be perceived as an accumulation of graphical user interfaces, driven by business logic and storing relevant information in a database. The To Be enterprise architecture, proposed by the authors of this paper, consists of a standardized sum of business processes ran through a BPM platform, having an enterprise data model as an operational data base and also a data warehouse. Using this new enterprise architecture case, human action will be linked to the enterprise system through graphical user interfaces, scheduling very accurate human tasks execution and stabilizing the human behavior component for increasing overall enterprise performance. This transformation of the enterprise is provided by synchronizing business operations with the accounting principles applied for recording financial transactions. Consequently, this drives the enterprise towards the standardization of operations according to the best reference model at the moment, real time accounting, and eliminating the traditional gaps between operations and accounting. This method enhances enterprise improvement, by continuously controlling and monitoring business processes and implementing change at all levels.

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$Cost-Benefit Analysis Methodology for Investments in Refractive Surgery$

Cost-Benefit Analysis Methodology for Investments in Refractive Surgery

Author(s): Oana-Ramona Lobont,Roxana Bucurean / Language(s): English Issue: 18/2018

The current paper proposes a methodology of cost – benefit analysis for investments in the field of refractive surgery over the Romanian-Serbian cross-border region. While refractive surgery services have the potential of generating financial gains for the investor, they can also generate significant social impact. When the investments are made from public funds, the net social benefits are usually targeted. Although the potential impact of such an investment over the quality of life of the local population is important, a feasibility study is mandatory as a basis for the decision to allocate the necessary funds. Through a previous research, we established a benchmark for the conversion of the net social benefits of refractive surgery into monetary form. Through the current article, we propose a way of integrating the converted net social benefits into a cost – benefit analysis. The proposed methodology can be used in feasibility studies over the Romanian-Serbian cross-border region and can easily be adapted to other regions.

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Identification of the basic elements of the innovation-analytical platform for energy efficiency in project financing

Author(s): Tetyana Marchuk,Dmytro Ryzhakov,Galyna Ryzhakova,Sergiy Stetsenko / Language(s): English Issue: 4/2017

This analytical study focuses on the financing of energy efficiency projects in Ukraine. In this article, the authors analyze the state and dynamics of the modern market of energy resources both on a global scale and within Ukraine, and it was discovered that the potential of the energy efficiency market is extremely large and interesting for different groups of bank investors. In the course of the study, it was revealed that private households and industrial enterprises are the largest energy consumers in Ukraine, which confirms the necessity of implementing a public program for financing energy efficiency projects. The study of Ukraine’s legislative framework has made it possible to clearly define the concept of energy efficiency and to highlight which projects can be considered energy-efficient. It is noted that the state actively develops and implements a policy to increase energy consumption savings both among private individuals and among producing enterprises, which is implemented at the state level by a specially created Energy Efficiency Fund. As a specific tool for analyzing energy efficiency projects, the authors suggest using benchmarking technology, which provides the opportunity to highlight the strengths and weaknesses of a specific energy saving project, as compared to the top project in the industry. As a result, in the course of the conducted analytical studies, the authors proposed a specific tool for the analysis of energy efficiency financing projects in Ukraine, which includes five priority areas for which it is necessary to build a methodology for assessing the borrower’s creditworthiness, which seeks to implement a project in the field of energy saving.

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KÜRESELLEŞMENİN İŞLETMELERİN MALİ YAPILARINA ETKİSİ

Author(s): Tünay Aslan / Language(s): Turkish Issue: 41/2019

This study was conducted to determine the effect of globalization on financial structures of enterprises by taking the globalization process into consideration in detail. The study was carried out by the Screening Model; and a case evaluation was made by describing the findings. In the present study, it was concluded that globalization process caused many important and strategic changes and transformations in socio-economic, economic and technological fields, particularly in the cultural sector. The globalization process affected the financial structures of enterprises directly. The enterprises, which adapted to the globalization process and carried out necessary reforms on time, came out of this process by strengthening their financial structures. The study is important in that it creates awareness on globalization for enterprises.

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Osmanlılarda Muzaaf Usul’e Erken Geçilmemesinin Sosyo-Ekonomik Nedenleri

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Osmanlılarda Muzaaf Usul’e Erken Geçilmemesinin Sosyo-Ekonomik Nedenleri

Author(s): Ahmet Vecdi Can,Hakan Aliusta,Aydın Bağdat / Language(s): Turkish Issue: 25/2019

It is not clear when the first use of the Muzaaf Usul (Double Entry Bookkeeping method), which is considered to be a turning point in the historical process of accounting. However, this method is described in a chapter of the book titled “Summa Arithmetica” written by the Italian Luca Pacioli at the end of the 15th century. Later, this method spread rapidly to Europe, other continents and all over the world due to the widespread use of the printing press and is still used today. However, contrary to these developments, the Ottoman Empire did not use this method in its accounting system until the 19th century.The aim of this study is to examine the socio-economic reasons of why double-entry bookkeping method was started to be used by Ottoman Empire and other Turkish countries about four centuries later. During the examination, literature reviewwas done regarding the economical and social situation of Ottoman Empire including the period between 16th and 20th centuries, and the findings were be classified and analyzed. As a result, the possible socio-economic reasons why double-entry bookkeeping method wasn’t used earlier are explained.

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УСЛОВИЯ И ВЪЗМОЖНОСТИ ЗА СЪХРАНЯВАНЕ НА СЧЕТОВОДНАТА ИНФОРМАЦИЯ В СЪВРЕМЕННАТА ДИГИТАЛНА СРЕДА

Author(s): Borislav Boyanov / Language(s): Bulgarian Issue: X/2019

This report is objectively oriented to accounting information treated on one hand as inputs, and from the other hands - as a product of the accounting system of the enterprise. The purpose of the author is to explore the regulatory, management and technological aspects of the storage of accounting information at every stage of the reporting process, to outline its place, role and importance in the Bulgarian economic and legal peace. In order to achieve the main research objective, the author supports the thesis that regulatory requirements for storing information and management attitudes and solutions for organizing and storing accounting data are lagging behind in their development to technological advances in terms of data archiving and protection against malicious impairment or destruction.

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Zarządzanie przestrzenią miasta – wybrane aspekty

Author(s): Małgorzata Kmak / Language(s): Polish Issue: 4.2/2018

The factors of functioning and the instruments for managing the urban space have been the object of interest of researchers in various areas: management, spatial economy, urban planning, environmental protection, sociology, political studies etc. In spite of the current scientific discourse, there is a justified need for on going knowledge updates on account of dynamic and constant changes occurring in the structure of urban space. The aim of the article is to determine the specific problems and issues related to the management of urban space and realisation that uncontrolled urbanisation processes pose grave social, economic and ecological threats. The author’s intention is to draw attention to the specific nature of organisation of space in metropolises and in small towns, showing the potential, but also the threats to the representatives of local governments and users of urban space. The triangulation method was applied, which guarantees the highest quality of study, limits errors and enables references to several specific methods of classic studies (comparative studies, analysis of content and observation). The analysis of selected planning and design documents, combined with their comparison and confrontation with a potential source base and scientific require ments will allow for formulation of conclusions about the efficiency of activities initiated in the urban space. The impact of studies of this type on opinion-forming milieus in specific local communities is also important. The constructed city development models and strategies are not sufficiently effective to cope with the problems of cities in the 21st century, whereas modern city exploitation instruments are inefficient with respect to the servicingof cities inhabited by millions of people.

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Warunki tworzenia efektywnych modeli akceleracji startupów dla wspierania innowacyjnej przedsiębiorczości w Polsce

Author(s): Marta Czyżewska / Language(s): Polish Issue: 10.2/2018

Business accelerators are important institutions supporting entrepreneurship by leading innovative business solutions to the so-called investment readiness or market read inessphase. Institutions running accelerators, thanks to the involvement of specialists in many fields, cooperation with investors and corporations allow to significantly reduce the risk of failure of the projects enabling their rapid commercialization. Running an accelerator is a challenge in the organization of acceleration processes, i.e. the implementation of necessary activities in an effective manner, by providing high quality support to startups in order to develop and implement highly innovative projects in the most optimal way regarding costs, time and solutions quality. Therefore, the entities implementing start up acceleration programs are constantly looking for improvement opportunities, observing the global dynamic development of accelerators in the world.

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Porównanie współczesnych koncepcji zarządzania przedsiębiorstwem

Author(s): Hanna Soroka-Potrzebna / Language(s): Polish Issue: 10.2/2018

Very strong competition, as well as frequent and unpredictable changes in the environment, force enterprises to apply appropriate management concepts. However, the problem is choosing the right concept, efficient implementation and use. The difficulty that managers encounter at the beginning, and therefore the choice of a suitable concept, leads to a comparison of contemporary management concepts. The article focuses on a comparison of selected, most often used by enterprises concepts.

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Integracja działań w przedsiębiorstwie jako narzędzie efektywnego modelowania zachowań biznesowych

Author(s): Bogdan Nogalski,Roman Czapiewski / Language(s): Polish Issue: 10.2/2018

The integration of activities in the company is related to the effective transformation of the strategy into tactical and operational activities and the establishment of a system of repeatable and legible actions for both employees and clients. In this fact, formation will become a network of dynamic activities in the area of shaping processes that cross traditional functional areas of an enterprise. The Integrated Management System will become an element facilitating the formation process, which is usually confirmed by accepted standards of quality, environment and safety management (including the current flow of information and risk) and hygiene of job as well as appropriate and confirmed relations with a selected group of clients. The combination of such requirements results in arrangement and systematic operation in the organization of the company.This article is an attempt to show the integration of activities in an enterprise as a tool for effective formation of the business activities, on the basis of possessed knowledge and an empirical casa-study performed in the company that is a leader in this industry and located on the stock exchange. The article also takes into account the principles and techniques appearing in the wide application of the project management with underlining its dynamic character.

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Myths on Internal Auditing

Author(s): Lena Grzesiak / Language(s): English Issue: 6.1/2019

The myths on internal auditing feed on a combination of facts, beliefs, and rumours, like it usually happens when people seek to comprehend things that are somewhat puzzling to the eye of a layman. The author of the article investigates the sourcesand content of internal auditing myths to explain why these cognitive constructs should be identified and counteracted. The aim of the article is to present the myths oninternal audit. The analysis is based on research involving a critical review of the literature and unstructured interviews with 6 internal auditors, 7 auditees and 4 working students. The author decided to explore internal audit myths after analysing the results of a survey conducted in preparation of her doctoral dissertation. The analysis revealed ungrounded beliefs about this function, as well as showing that internal audit myths are circulated by auditees, working students and internal auditors themselves. A failure to find studies on internal audit myths was also an argument for undertaking the following research. This research is part of a larger project on internal audit education, which has been kindly supported financially by the Polish Ministry of Science and Higher Education through Young Researchers funding, contract no. B 1812100001865.02.

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Negativity of Neutrality – Study of Brokerage Recommendations in Poland

Author(s): Jakub Keller / Language(s): English Issue: 10.2/2018

Stock market recommendations are an important tool to support decision making in a group of investors who do not have specialist knowledge and who are not able to make detailed analyzes and valuations of individual companies on their own. The effectiveness of the recommendations has been the research subject of many researchers around the world for several decades. Most of the research performed indicates that the recommendations bring added value to the investment process. However, it should be noted that most of the works do not refer to neutral recommendations, which do not indicate clearly which decision should the investor take. In this work, analysis of neutral recommendations was made interms of generating above-average rates of return in a short time horizon. The results of the study indicated that neutral recommendations are received in a negative way by investors and cause additional negative rates of return in the perspective of up to 10 sessions from the date of publication of the recommendation.

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Variety of Knowledge Exchange Mechanisms: Knowledge Sharing in Quality Function

Author(s): Aleksandra Rudawska / Language(s): English Issue: 6.1/2019

The sharing of knowledge is a very complex issue and the results on the knowledge sharing antecedences are not always consistent. Therefore, knowledge sharing behaviour should be studied as a diversified activity, trying first to classify types of individual knowledge sharing. The article aim is to identify the knowledge sharing mechanisms within the exploitative organizational setting, and to identify differences in sharing between workgroups of one department. A case study was undertaken in the quality assurance department of Polish subsidiary of multinational corporation using semi-structured interviews and direct observations of the work settings. The results suggest thatin the studied department there is a wide portfolio of knowledge sharing mechanisms with the advantage of knowledge retrieval and that different mechanisms can be found informal and informal interactions. The study shows the great range of knowledge sharing mechanisms within exploitative environment and the role of formal knowledge sharing opportunities in the situation when efficiency and productivity is important.

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Organizacja audytu logistyki w przedsiębiorstwie handlu detalicznego wielkopowierzchniowego

Author(s): Zdzisław Jedynak / Language(s): Polish Issue: 7/2019

The aim of the paper is to organize and disseminate knowledge regarding the implementation of the logistics audit process in a large format retail trade enterprises. Thisis to ensure a tangible effect for all interested parties in the form of rationalization and increased efficiency of measures taken in the field of logistics processes control. Its implementationtakes place through: determining the current state of knowledge in the scope ofconducting an operational audit; identification and characteristics of the logistics system inlarge format retail trade enterprises; characteristics of the logistics audit procedure in the surveyed enterprises. The applied research method is a critical review of the subject literatureand direct observation.

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Unpredictability as a Generator of Decision-Making Dilemmas

Author(s): Ryszard Janikowski / Language(s): English Issue: 12.1/2019

Choosing the methodology of interactive planning of the decision-making process in the unpredictable future is in its essence a dilemma. It is divided between the tough approach that appears as the currently identified goals of the organization, and the method of soft systemic thinking used to study new relations and structures that are revealed in the future. An important element of epistemology is the emergence that manifests itself as the appearance of new things and new systems in the process of merging. In this process certain properties not found in their predecessors appear in the new systems. The essence of resolving a dilemma is continual learning based on the path of cognition of successive states of perceptual reality, in accordance with soft systemic thinking. Thus, the interactive planning methodology of ways of decision-making in the unpredictable future will not only allow for perceiving changes but will also serve to explore new relationships and structures that will be revealed in the future.

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THE RELATIONSHIP BETWEEN ORGANIZATIONAL CULTURE, RISK MANAGEMENT AND ORGANIZATIONAL PERFORMANCE

Author(s): Rawan ABUZARQA / Language(s): English Issue: 1/2019

This article critically aims to demonstrate the relationship between three variables: organizational culture, risk management and oragizational performance. The main factor is organizational culture and how it impacts on the risk management and performance of the organization. The research also focuses on the influence of organizational culture on performance and risk management in the bank sector. This paper ins based on secondary literature which reviews analytical research of multifaceted data, such as peer-reviewed journal articles, university textbooks, internet resources, etc. Organizational culture represents one of the key variables impacting organizational performanc. Organizational culture develops when the culture and principles of the employees are compatible with the culture and principles of the institution and it reflects high performance and efficiency. Moreover, the perception of risk and risk management influence the organizational culture. This is then reflected in the strategic management and performance as the combination of efficiency and effectiveness. This study also emphasizes the importance for banks and other organizations to create or apply an efficient framework, for the risk events identification, analysis and monitoring.

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TECHNIQUES OF DATA ANALYSIS. AN APPROACH TO BUSINESS STATISTICS AND ECONOMETRICS

Author(s): Andreea DUMITRACHE,Alexandra NASTU / Language(s): English Issue: 13/2019

Data can be analysed by using a wide range of techniques. The present article focuses on the use of the basic approaches to statistics and econometrics (descriptive analysis, distribution analysis, logistic regression and tests for model validation) in order to establish a correlation between the individual returns of the securities and a macroeconomic factor. The novelty of the paper consists in designing well-defined steps according to objective criteria of the financial market when evaluating financial assets. Thus, a unifactorial model consisting of several data science techniques is used, which assumes that the profitability of any financial title is in a linear relationship with a macroeconomic variable.The study is based on Apple and market portfolio data series and the results show that there is a strong positive dependence between them.

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CSR Appropriation Process in Six Member Companies of the Global Compact Network Tunisia

Author(s): Amel Bouderbala,Ferid Zaddem / Language(s): English Issue: 1/2019

There is currently no work dealing with CSR appropriation through a sensemaking perspective. The purpose of this research is to understand the CSR appropriation process of companies registered in a network through a sensemaking perspective. Anchored in pragmatic constructivism, this research mobilizes an intervention research method in the study of six cases of companies belonging to the Global Compact network for which we have been the coordinator. The data collection method consists of semi-structured and collective interviews as well as observation. The content analysis allowed for an interpretation of the results by applying a "case-oriented strategy", a "replication strategy" and "inter-case" analysis. The results show three stages of sensemaking in which the network intervenes (enactement) according to the stage of practice of CSR in the firm: (1) an intersubjective construction corresponding to pragmatic sensemaking (2) the passage from an intersubjective construction to generic construction characterised by an "organised anarchy" (3) generic construction where the sensemaking is political and procedural as influenced by strategy and corporate culture. The network interferes favourably in the process of sensemaking (enactment) by acting on the strategic technical and the cognitive levels.

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Air Transport Service Efficiency and Airport Connectivity of ASEAN Countries

Author(s): Varattaya Jangkrajarng,Yanin Patsopa,Teevara Waidee,Charukit Chaiwan,Sakgasem Ramingwong / Language(s): English Issue: 67/2020

Southeast Asia countries have integrated their socio-economic development together as the ASEAN Community. The paper focuses on air transportation as one of the key drivers of the connectivity. The indicators, i.e., air transport service efficiency and airport connectivity, reported by World Bank, are investigated. Each country’s GDP per capita was mapped these indicators to reduce economic advantage gap. The results are suggestive that Malaysia, Indonesia, Thailand, and Singapore possess outstanding potential. The Philippines and VietNam are satisfiable in airport connectivity yet need improvement in air transport service. Cambodia, Lao PDR, and Brunei are lack behind in both areas.

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Profitability – Financial Liquidity Relation under Bank Dependence During the Financial Crisis. Case of Polish Companies

Author(s): Elżbieta Bukalska,Marcin Król / Language(s): English Issue: 67/2020

The aim of the paper is to find the impact of financial crisis on profitability, financial liquidity, and on the relation between profitability and financial liquidity. We did it by including additional dimension: companies’ dependence on bank financing (companies that rely and do not rely on the bank financing). Our analysis covers the country that was perceived as resistant one to financial crisis – Poland. The analysis was conducted for panel sample of 183 companies listed on Warsaw Stock Exchange for the period of 2005-2016 (8,784 quarter-company observations). We found that Polish companies seem to be quite robust to the financial crisis impact in general. The strongest impact of financial crisis was on turnover ratios – DIO and DPO increased during and after financial crisis. As for companies with low and high bank dependence we found that high bank dependent companies underwent the financial crisis more heavily – their profitability and financial liquidity decreased radically during financial crisis time but also after financial crisis (in the short and long-term).

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