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Organizational Climate of State-Owned Enterprise and Efficiency of Managing and Organization

Author(s): Myron Y. VARII,Olena A. LESHCHYNSKA,Stefaniia S. MAKARENKO,Alla V. Oliinyk,Halyna M. ZAKALYK / Language(s): English Issue: 44/2019

The article presents the results of the research of mutual influence of the organizational climate of the Ukrainian state-owned enterprise and the processes of managing an organization. The sample was drawn of 72 respondents from all divisions of Ukrposhta Lviv State-Owned Enterprise. The questionnaire developed by A. Maier to evaluate the degree of optimality of the organizational climate, the test to evaluate the effectiveness of the head developed by S. Roshchin and indicators of organizational efficiency model developed by V. Sate were used for data collection. The linear correlation coefficient was used to check the hypothesis on the interrelation between climate indicators and its impact on management. The obtained results were presented using the correlation analysis and the method of correlation pleiades. The correlation pleiad obtained in the result of the research showed a conspicuous tendency to the connection of the indicators of satisfaction with work schedule, level of salary and stability of the workplace with relations with colleagues, attitude to work, opportunity and desire for professional development as well as the authority of the direct supervisor and the quality of his decisions.

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Economic Resources and their Rotation. Emergent Qualities of the Economy

Author(s): Evgeny Petrovich VASILYEV,Zoya Andreevna VASILYEVA,Irina Vladimirovna FILIMONENKO,Svetlana Kapitonovna Demchenko,Tatyana Petrovna LIKHACHEVA / Language(s): English Issue: 44/2019

The emergent nature of economic resources has been revealed, which determines the entire variety of processes of the initial resources consumption and restoration. An approach to determining the temporal potential of the existence of economic systems has been considered, based on their ability to self-renew their resources. The basic elements of converting some initial resource reserves to others have been determined, based on the system of preferences of individuals (their needs), which form a model for replacing the consumed initial resource reserves with restored resource reserves. It has been proved that the processes of self-renewal of the initial resource reserves are both consumption of these reserves and their restoration. As a result, all economic processes that occur in the society are presented in this article as ultimate target cycles of self-renewal of the initial reserves of all types of reproducible resources available in the economy.It has been noted that the emergent quality of the initial resource reserves (their ability to self-renew) arises only for the special matrix structure of these resource reserves. It has been established that the emergent reserve of marginal target cycles of self￾renewing the initial reserves of reproducible resources in the economic system is always limited due to the division of resources into reproducible and nonreproducible. From these positions, the economic system can control the potential time of its existence, depending on the choices made by participants in economic processes. The need for the formation of a special economic mechanism aimed at maintaining and expanding the potential existence of the economic system through the development of matrix technologies for self-renewal of the initial reserves of reproducible resources is substantiated in the article.The methodological basis of the study is presented by methods of analysis and synthesis, theory of sets, and economic and mathematical modeling.

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Security of Business Operations and Supervisory Functions of the State as Characteristics of the Business Environment

Author(s): Irina Vyakina / Language(s): English Issue: 44/2019

Assessment of business community’s subjective perception of state control and supervision impact on the safety of the business environment as part of the ongoing reform of state control and supervisory activities. The study analyzes the results of surveys of small, medium and large enterprises’ managers in 2016-2018, including business entities of various types of economic activity and organizational and legal forms. The vast majority of respondents are small and medium businesses. At the end of 2016, 502 respondents were surveyed, at the end of 2017 – 287 business representatives, and 319 entrepreneurs took part in the survey in 2018. The surveys were initiated by the regional business ombudsman and the business community.A content analysis of the regulatory framework and economic and statistical evaluation of survey results were carried out; tabular and graphical data visualization methods were applied. Business representatives do not feel safe in the current business environment. In the subjective perception of entrepreneurs, there is no reduction in the administrative burden on business. At the same time, inspectors remain oriented on the collection of fines and the inspections remain fiscally targeted. There is an interdependence of the subjective perception of control and supervisory measures by business representatives and objective characteristics of the safety of the business environment, which have a significant impact on motivation and the objective results of the activities of economic entities.

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Methodical Maintenance of Management of Logistic Activity of the Trade Enterprise: Economic and Legal Support

Author(s): Andriy A. PYLYPENKO,Nataliia L. SAVYTSKA,R. V. Vaksman,Olena I. Uhodnikova,Victoria Schevchenko / Language(s): English Issue: 44/2019

The dynamism of the development of trade relations in the international arena requires from the domestic trade enterprises the introduction of effective tools of activity management, among which logistics are defined. The article explores the methodological bases of the analysis of the internal environment of logistic activity by determining the main logistical flows of a trade enterprise and indicators for their evaluation. The basic methods of carrying out the analysis of the external environment of the logistic activity of a trade enterprise have been determined and compared. An algorithm for building a logistic strategy of a trade enterprise has been formed. The basic legal principles of regulation of logistic activity of a trade enterprise have been specified.

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The Range of Goods at a Retail Chain: The Formation Technology

Author(s): D.K. POPENKOVA,Alexander Fedorovich NIKISHIN / Language(s): English Issue: 44/2019

The category management is a relatively new science. Due to this, there is much for researchers to study. In this article the references on approaches to forming the range of goods have been reviewed, the authors’ approach has been shown by using the practical example, and the particular retailer has been given recommendations on changing the range of goods through the example of one of their categories. In this research, the approach to forming the range of goods, based on satisfying the customers’ needs, has been reviewed, and its practical use has been described. For these purposes, four retail chains functioning in the ‘neighborhood store’ format and one small category of goods – flour and baking mixes – have been selected. The market data, customer preferences, and sales data for the A retail chain have been analyzed. The range matrices of the chains under study have been analyzed. Shortcomings and strengths have been identified, and the recommendations for the A chain have been made.

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THE COUNTRY BRAND IMAGE, THE COUNTRY-OF-ORIGIN IMAGE AND THE ROMANIAN WINES IMAGE. AN EXPLORATORY APPROACH

Author(s): Anca Milovan-Ciuta,Vasilica-Marinela Ardelean,Sorin-Ioan Prada / Language(s): English Issue: 3/2021

This paper describes the results of an exploratory research on the Romanian country brand image, the country of-origin image and the Romanian wines image. It is part of a larger study that includes, in addition to the exploratory research, case studies (Chile and France) and a quantitative research on a sample of 325 wine consumers from various countries. Qualitative research involved conducting non-directive interviews based on an interview guide on a sample of 21 wine experts from various countries - Italy, France, UK, Austria, etc., managers of wine companies, oenologists, brand managers etc. Our results show that the country brand and the country-of-origin image impact the Romanian wines image, influencing the perception of wine quality and wine image as a result of the generalization or halo effect. Furthermore, as shown in the literature review, it is possible to build the image of the country brand starting from the image of wines and their promotion in various markets alongside their origin (the case of Chile, Argentina, South Africa, New Zealand, Australia etc.). This article is original because it considers, in addition to the country-of-origin image and the image of its products, the general image of the country brand as a generic construct.

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THE FINANCIAL IMPACT OF SAIS’ ACTIVITIES ON THE PUBLIC SECTOR’S RESOURCES. THE CASE OF ROMANIA

Author(s): Cristina-Petrina Trincu-Drăgușin,Mihai-Răzvan Sanda / Language(s): English Issue: 3/2021

Supreme audit institutions are key actors in ensuring, through their specific external public audit activities, the accountability for public resources’ management. Their goals are defined by each state’s constitution and generally entail examining and reporting on the lawful, efficient, effective and economical use of public finances and assets. Since SAIs must continuously strive to demonstrate their added value to stakeholders, while also providing an institutional model beyond reproach, quantifying their impact on public finances is of the utmost importance both for SAIs and the entire society. The research aims to analyze the regulatory and reporting framework of the Romanian Court of Accounts from the audit results indicators standpoint, providing a correlational analysis with certain intrinsic and extrinsic variables. The research results are useful for both the professional and the socio-economic environment concerned with assuring the optimal management of public resources, providing insights into a result-based approach.

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EVOLUTIONARY DOUBLE ENTRY ACCOUNTING: BEFORE AND AFTER LUCA PIACIOLO'S SUMMA

Author(s): Vlad Bulau / Language(s): English Issue: 3/2021

Both as researchers and as ordinary people, we often go too easily over the history of human knowledge. Science constrains us to carefully analyze the past, an act that guides our steps in the present and future. We often rush to decree ideas and opinions present in our universe since several centuries ago as discoveries of the modern world. The truth is that Luca Paciolo is one of the most commented authors in the history of mankind, some assessing the number of scientists and not only who debated and criticized in writing his famous work at over 1700. Luca Paciolo was born in 1445 in Borgo San Sepolcro (nowadays Sansepolcro) in the Arezzo region of the Florentine Republic, becoming a well-known mathematician who worked and taught, including at the court of Duke Ludovico Sforza in Milan. His most famous work is "Summa de l'arithmetica, geometria, proportioni e proportionalita" published in 1494, a work of mathematics and geometry that presents, in Chapter XI, for the first time for that era, the double entry accounting method. This was a turning point in the history of accounting, marking its undisputed rise to the modern form in which we know it these days. This paper aims to show the essential role that Luca Paciolo played in the development of this science, to place into a context the evolution of accounting and of the double entry but also to clarify the historical status that Paciolo had: inventor or popularizer of the double entry.

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SOME CONSIDERATIONS REGARDING LETTER OF CREDIT ACCOUNTING

Author(s): Veronica Grosu,Svetlana Mihaila,Violeta Codrean,Iulian Dascălu / Language(s): English Issue: 3/2021

Cash, as a means of money, is a mandatory component of the accounting system because accounting can only work with values, through which take place the generalization and expression of the reality of economic phenomena. From the point of view of cash classification, depending on the presentation, we identify the letter of credit, known as a financial instrument for securing payment, also illustrating its classification with the necessary example. The topicality of the article results from the consideration that researching the specialized literature for the last years, the authors noticed the absence of articles addressing this topic. The research methods used include such methods as the normative documentary method, induction and deduction, analytical study, etc. The purpose of this article is to highlight the main arguments of using the letter of credit in terms of literature, both national and international, in order to motivate economic agents in its use, because from the moment of issuance, the supplier is assured that all the provisions of the commercial contract will be observed by the buyer.

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CLIMATE IN ONE BUSINESS ENTERPRISE AND POSSIBILITIES OF ITS IMPROVEMENT

Author(s): Vitalija Karaciejūtė / Language(s): English Issue: 1/2022

The goal of this article is to evaluate climate in one business enterprise and to suggest possibilities for its improvement. The following objectives were set to attain the established goal: 1) to disclose a contemporary attitude towards organisational climate; 2) to carry out quantitative research on climate in a business enterprise; 3) to suggest possibilities for improving organisational climate. The methods of scientific literature analysis and anonymous questionnaire survey were applied in the research, which allowed evaluating current climate of business enterprise objectively and suggesting possibilities for its improvement. So far Lithuanian business enterprises have not been investigated following the four factors predetermining climate in an enterprise, i.e., motivation, leadership, communication and organisational structure. Thus, possibilities for improving climate in a business enterprise can be applied in other business companies, which aim at ensuring successful and productive activities of their employees. The research results showed that good climate in an enterprise is predetermined by 1) friendly, understanding, kind, collaborating colleagues, who get along with each other; 2) a democratic, understanding and collaborating leader; 3) motivating salary. Considering this, it is recommended for a leader: 1) to build a team, whose members experience positive emotions working and relaxing together; 2) to contact with employees as much as possible; 3) to create an innovative and unique system of staff motivation that is suitable namely for his / her company. These possibilities for improving climate could contribute to solving problems not only in the investigated enterprise but also to dealing with those in a big number of other enterprises.

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APPROACHING TELEWORK SYSTEM BY ROMANIAN EMPLOYEES IN THE PANDEMIC CRISIS

Author(s): Adina Letiția Negrușa,Elisabeta Butoi / Language(s): English Issue: 1/2022

Suddenly and unexpectedly, many workers had to change their work location to home during the COVID-19 pandemic that emerged at the end of 2019. Swiftly, the line between work and personal life got blurred and the home became a working and an educational place. These changes had a thumping impact on the employees’ way of living and working. The new way of working from home challenged Romanian employees’ capacity to sustain their job satisfaction, the efficiency of work, and work-life balance. The study presents and analyses official results of two surveys by the “European Foundation for the Improvement of Living and Working Conditions” regarding Romanian employees’ attitudes and perceptions about working conditions, performance and job satisfaction, subsequently experiencing telework activities during the pandemic crisis. The research findings reveal that even if the working hours increased a lot in the remote system, the respondents displayed their overall satisfaction and willingness to continue working from home.

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DIGITAL TRANSFORMATION IMPACT ON JOBS AFTER COVID-19 PANDEMIC

Author(s): Dragan Milosevic,Dejan Ilić,Jovana Popović / Language(s): English Issue: 1/2022

Digital transformation (DT) is a change in the business model of the company by applying new digital technologies. New digital technologies related to the application of automation, robotics, artificial intelligence and contemporary information and communication technology (ICT). The consequence of the application of DT will be the replacement of routine tasks with automation, which is controlled by artificial intelligence. Greater flexibility and efficiency of work will be achieved in terms of place of work, time of work and ways of engaging people. The changes will be felt by all companies, regardless of size or activity. Due to that, DT will also change the labour requirements. Automation of routine jobs will lead to large layoffs. Many professions will almost disappear as the technology they worked with becomes obsolete. It is envisaged to create new job profiles following the requirements of new technologies. Since the application of DT requires new skills and knowledge, it is necessary to educate workers and managers to successfully apply new technologies.

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INDICATORS OF GIVING INTEREST RATES TO CUSTOMERS AND DEBTORS AT PT. BANK X IN MEDAN, INDONESIA

Author(s): Mazli M. Wardhani,Novi Natalia Padang,Iskandar Muda,Alexandru-Mircea Nedelea / Language(s): English Issue: 1/2022

This paper aims to examine how efficient contracts in providing credit, especially in PT. Bank X. The issues that will be raised in this paper are, first, what is the basis for the credit extension of PT. Bank X to customers, the second analysis of which financial statements are used by PT. Bank X, and the third system of providing and credit supervision that should have been implemented by PT. Bank X. The approach used in this paper is a qualitative approach, namely the research method used to study scientific objects. The academic implication of this paper is that there is a theoretical understanding of efficient contact in providing credit to customers. Meanwhile, the practical implications for this journal are expected to be taken into consideration for business actors, particularly the banking service industry in terms of efficient contracts and providing credit.

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OPTIMIZING THE LINK BETWEEN MANAGEMENT ACCOUNTING AND BUSINESS MANAGEMENT

Author(s): Camelia Cătălina Mihalciuc / Language(s): English Issue: 1/2022

The use of the cost of managing the economic entities by managers is an action of primary interest. Given the current economy, marked by globalization and increasing competition through the use of modern technologies, knowledge of management techniques through the use of cost information is a necessity. In order to optimize the link between management accounting and business management, managers need to develop their conceptual and methodological costs. Management may influence the size of a cost only if it manages to have accurate and timely information on the cause, value and consequences of its recording. The control of economic operations, economic processes and business sectors and implicitly of costs is a management priority, the latter being a desiderate pursued by managers at all levels of the hierarchy pyramid. Based on these considerations, the objective of the paper starts from the link between accounting and management, management accounting progressively evolving from the role of recording information on costing to informational support in management decision-making. Thus, providing cost information in the shortest possible time to substantiate managerial decisions allows the establishment of medium and long-term strategies that have as their starting point management accounting reports. This information represents the resource for the production process database and forms the support of the decision-making system, providing managers with cost-based options for setting the objectives, resources and resources needed to conduct the business.

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A STUDY ON FACTORS INFLUENCING BUSINESS RESILIENCE IN THE CONTEXT OF DIGITAL TRANSFORMATION

Author(s): Teodora Elena Fogoroș,Marieta Olaru,Cristian Ilie,Roxana Maria Gavril / Language(s): English Issue: 2/2022

This research paper aims to highlight the factors influencing business resilience in the context of digital transformation, based on an empirical approach. In the existing literature, the focus is on the concept of digitization and its antecedents and outcomes, lacking its effects on organizational resilience. First, the paper presents an overview of the existing literature on resilience’s importance in business nowadays, followed by a concise outline of the impact of digital transformation in this process, as observed by recognized publishers in the latest years. As the business environment has a dynamic and unpredictable trace, due to accelerated digitization evolution, organizations are striving to turn any risk of resilience into an advantage. Secondly, after conducting an empirical research based on a quantitively analysis of 100 recent research papers, we identify the factors of influence on business resilience and the influence of digital transformation on business resilience. We strive that this research will help future organizations to better understand the importance of resilience and to easily adapt digitization in their processes.

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THE INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE ON BANK PROFITABILITY

Author(s): Iulia Cristina Iuga / Language(s): English Issue: 2/2022

Nowadays, the society expects economic performance from companies, but also a social commitment. Our observations will offer to the banks a perspective on the degree of their CSR Disclosure and will help the central bank to develop a corporate sustainability framework and guidelines for the improvement of the transparency and the reduction of the informational asymmetry. The objective of our work is to explore the amplitude of the information on CSR from the annual reports and the reports of the Administrative Councils of the banks, and also to examine the impact of the CSR Disclosure on the bank performance. The study uses an econometric model to analyse the effect of the CSR Disclosure on the profitability of the Romanian banks. Related to the banking field of activity, a specific feature in the behaviour of the customer was observed. The customers are more involved, analysing attentively the information and also have the tendency to establish a long-term relation with the financial institution.

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USE OF ASSURANCE SERVICES FOR INTEGRATED REPORTING IN DEVELOPING GEORGIA

Author(s): Manana Mchedlishvili,Naira Tabatadze / Language(s): English Issue: 2/2022

The economic crisis caused by the Covid-19 pandemic has had the most severe impact on the financial accounting and auditing of enterprises.Hindered the events of the reporting period and the possibility of continuous operation of the enterprise. Integrated reporting is the brief communication of how an organization's strategy, management, efficiency, and prospects create value in the short, medium, and long term. Many of the world's leading companies publish integrated reports outlining key reporting innovations. Further development of practical approaches is needed in this relatively new and underdeveloped field of integrated reporting and assurance services. Individuals involved in reporting and assurance service providers should be the initiators of the news and provide their views and comments to the standards development bodies. Consumers should actually evaluate their expectations for the assurance service. The belief in integrated accounts lays a solid foundation for gaining capital markets and public confidence so that enterprises can maintain stability and grow their business sustainably.

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How Many Innovations Need to Be Produced in the Process of Endogenous Growth with Fluid Intelligence

Author(s): Harashima Taiji / Language(s): English Issue: 76/2022

In innovation-based endogenous (Schumpeterian) growth theory, the production of innovations is constrained basically by the finite nature of the labor supply. In this paper, I show that innovations are constrained because (1) the amount of fluid intelligence of researchers in an economy is limited and (2) the returns on investments in technologies and in capital are kept equal through arbitrage in markets. With these constraints, equilibrium values of the number of researchers and their average productivity in an economy exist, and the equilibrium value of average productivity determines the amount of innovation production in each period. Distributions of fluid intelligence among researchers are most likely heterogeneous across economies, but if economies are open to each other, an economy with a smaller number of researchers with a high level of fluid intelligence can grow at the same rate as an economy with more of them.

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Linking the Concepts of Financial Stability: Crises, Competition, and Concentration

Author(s): Cristeta BAGSIC / Language(s): English Issue: 76/2022

Findings herein indicate that there is a chance that competition engenders systemic banking crisis for ASEAN emerging market economies, that is, there could be a competition-fragility nexus. On the other hand, at decreasing levels of competition, increasing concentration could harm financial stability. Meanwhile, when banking markets are already highly concentrated, increased competition would either not encourage fragility or be good for stability, i.e., a concentration-stability link is established. When controls for regulation and macroprudential tools are introduced, the opposite effects of competition and concentration on financial stability become more apparent.

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Testing Okun’s Law in South Africa

Author(s): Sanele Stungwa,Tozamile SIPHUXOLO / Language(s): English Issue: 76/2022

The purpose of this study is to see whether Okun's coefficient exists in South Africa. The study analysed yearly data from 1995 to 2020. The study used an error correction model (ECM) to assess the short-run relationship between the variables under investigation. The granger causality test is also used to examine the variables' short-run causality. According to the study's results, there is a negative and significant relationship between unemployment and GDP in the short run. As a result, Okun's Law applies in South Africa. The Granger causality test findings reveal that GDP Granger causes unemployment in South Africa. As a result, the study recommends that policymakers prioritize balancing labour-intensive and capital-intensive jobs, as well as encouraging entrepreneurship and sufficient education and training.

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