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Risk Related to Investing in Encumbered Real Estate

Risk Related to Investing in Encumbered Real Estate

Author(s): Łukasz Makowski,Elżbieta Zagórska / Language(s): English Issue: 4/2017

The aim of the paper is to underline the risks associated with investing in the so called encumbered real properties, that is the risk involved in purchase of a real property with tenants, easement of passage or transmission, a latent legal defect, being a historical property, property at a bailiff’s auction, or divested by a debtor.

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DETERMINANTS OF ECO-INNOVATIONS FOR POLISH ENTERPRISES

DETERMINANTS OF ECO-INNOVATIONS FOR POLISH ENTERPRISES

Author(s): Hanna Kruk / Language(s): English Issue: 3/2017

Eco-innovations are defined as innovations that enable the reduction of consumption of raw materials and energy, emissions of pollution and waste, leading thereby to improvement of natural environment. The main group of such eco-innovations are environmental technologies, however such a conceptualisation does not only relate to the process or product innovations but also to organization, marketing and business models. The European Union, as well as individual countries, promote and support the development and implementation of eco-innovations, which are considered as practical implementation of sustainable development principles in business practices. This article aims to analyse the factors affecting the development of eco-innovation in Polish companies. The analysis is conducted on the basis of primary literature, statistical data and other data. With that, the article presents the basic principles of the concept of eco-innovation, chosen external conditions and internal influences on eco-innovative companies. Also, an attempt has been undertaken to identify important factors that determine the development of eco-innovation in Poland, which is presented in the form of a SWOT analysis.

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DMS AND RFID AS AN INNOVATION IN THE ARCHIVING AND DOCUMENT MANAGEMENT IN THE COMPANY

DMS AND RFID AS AN INNOVATION IN THE ARCHIVING AND DOCUMENT MANAGEMENT IN THE COMPANY

Author(s): Małgorzata Oleś / Language(s): English Issue: 3/2017

The aim of the article is to present created in the framework of research and development project management support system and the archiving of documents the organization. Archiving and document management are issues faced by all companies regardless of their size and specific action. Proper administration and control over the flow of documents within the organization affects its effectiveness. The article is aimed at presenting the results obtained during the active observation during the implementation of the production DMS system using RFID technology. There will also be presented to the positive aspects of implementation and discussed the advantages and disadvantages of systems DMS.

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KOOPERACJA MAŁYCH PRZEDSIĘBIORSTW W ZAKRESIE DZIAŁALNOŚCI INNOWACYJNEJ

KOOPERACJA MAŁYCH PRZEDSIĘBIORSTW W ZAKRESIE DZIAŁALNOŚCI INNOWACYJNEJ

Author(s): Agnieszka Drews / Language(s): Polish Issue: 3/2017

Funkcjonowanie przedsiębiorstw we współczesnej gospodarce, nacechowanej silną konkurencją oraz postępującymi procesami integracyjnymi, coraz częściej jest uzależnione od relacji i siły powiązań między podmiotami działającymi na rynku. Jednym z istotniejszych czynników determinujących rozwój firm jest ich zdolność do kreowania innowacji. Znaczący potencjał innowacyjny mniejszych podmiotów gospodarczych jest następstwem połączenia dostępnych możliwości kooperacji i konieczności wspierania ekspansji działalności innowacyjnej w dominującym w Polsce sektorze małych i średnich przedsiębiorstw. Głównym celem artykułu jest próba dokonania oceny wymiaru współpracy małych firm w zakresie działalności innowacyjnej w Polsce w latach 2012-2014. Osiągnięcie celu głównego zostało zrealizowanie przy pomocy kwerendy literatury przedmiotu, analizy danych z Głównego Urzędu Statystycznego, oraz przeprowadzonego w 2015 r. badania empirycznego na reprezentatywnej próbie małych firm z całej Polski.

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INTERORGANISATIONAL COLLABORATION AS A DIMENSIO  OF ENTREPRENEURIAL ORIENTATION  OF NON-PROFIT ORGANISATION

INTERORGANISATIONAL COLLABORATION AS A DIMENSIO OF ENTREPRENEURIAL ORIENTATION OF NON-PROFIT ORGANISATION

Author(s): Rafał Kusa / Language(s): English Issue: 3/2017

The aim of the article is to identify the links between interorganisational collaboration and social entrepreneurship and to propose the way in which interorganisational collaboration can be reflected in entrepreneurial orientation scales, especially in relevance to non- -profit organizations. A role of interorganisational collaboration in pursuing societal needs is examined in the view of the related theory. The dominant research method is the literature review that is focused on publications on interorganisational collaboration, entrepreneurial orientation, and social entrepreneurship. The results show that interorganisational collaboration may play an important role in meeting societal needs, however, more research addressed to that phenomenon are recommended. Propositions related to operationalization and measurement of collaborative behaviours in the context of social entrepreneurship are presented. It is recommended to include interorganisational collaboration into entrepreneurial orientation scale, and to adjust the items related to competitive aggressiveness. As measures of interorganisational collaboration related to organizational entrepreneurship, the qualitative and quantitative items are suggested in the article.

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BIG DATA RECOMMENDATION PROBLEMS IN E-COMMERCE SOLUTIONS FOR SMALL BUSINESS

BIG DATA RECOMMENDATION PROBLEMS IN E-COMMERCE SOLUTIONS FOR SMALL BUSINESS

Author(s): Michał Bernardelli / Language(s): English Issue: 3/2017

The dynamic development of e-commerce has increased the demand for efficient algorithms and systems based on statistical analysis. The simplest of them use the web traffic statistics, other use sales parameters. Because of the amazing simplicity, transparency and enhanced features, much popularity was gained by the Google Analytics tool. None of the methods, however, without the appropriate algorithms that automate operations, is suitable for use in real time. Intelligent recommendation systems, such as the mechanism of Collaborative Filtering, significantly contribute to an increase in sales but are generally characterized by poor scalability. Of course with proper computer infrastructure and specialist knowledge, it is possible to gather big volumes of data and analyze them. All sophisticated solutions, however, are rather reserved for large companies, whose activity is based on the Internet. In this article, Big Data recommendation problems are described. Advantages and disadvantages of several used in practice algorithms are considered in particular emphasis on the suitability for the small e-commerce business. The main point of the article is the proposition of the simple in implementation recommendation algorithm and thereby achievable for small business. What is more, the online test was performed and its results presented as a good performance proof. The actual data were used thanks to the courtesy of Run4Fun.pl. In the test, the aspects of a large amount of data but also their volatility and diversity was taken into consideration.

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Corporate Governance Theories in the New Institutional Economics Perspective. The Classification of Theoretical Concepts

Corporate Governance Theories in the New Institutional Economics Perspective. The Classification of Theoretical Concepts

Author(s): Emilia Klepczarek / Language(s): English Issue: 105/2017

The inter-disciplinarity and multi-paradigmatism of corporate governance issues results in a lack of clear categorization of the theories. This paper attempts to systematize theories of corporate governance with special emphasis on the new institutional economics (NIE) framework and suggests new concepts for systematization. It allows us to understand better the limitations of each theory, and thus to choose the best one in particular circumstances, as well as provide them with the best available methodology. Bringing all the theories into the paradigm of NIE makes them closer to real market conditions and enables us to use methods attributed to neo-institutional research.

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Kalkulator kosztów zaniechania w praktyce

Kalkulator kosztów zaniechania w praktyce

Author(s): Barbara Kryk / Language(s): Polish Issue: 105/2017

Young people in the labor market, including the risk of social exclusion, a group under special institutional activities. Among the active measures aimed at reducing unemployment of youth are projects from EU funds. The continued use of the solutions proposed in such projects should be confirmed, among others, by means of so-called. cost calculator omission. The aim of the article is to present the essence of such a calculator and an indication of its suitability to justify the use of new tools for pro-employment on the example of a project implemented in Western Pomerania.The study methods were used desk research and CCD, which made it possible to confirm the effectiveness and efficiency of an innovative model of support for young people on the labor market.

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Model optymalizacji planu finansowego dwuosobowych gospodarstw domowych

Model optymalizacji planu finansowego dwuosobowych gospodarstw domowych

Author(s): Radosław Pietrzyk,Paweł Rokita / Language(s): Polish Issue: 105/2017

This article presents an original proposal of a two-person household financial plan optimization model, with a special emphasis on the retirement goal. The concept allows for relatively easy augmenting of the model, by adding more goals to it, as well as introducing new types of risk. The model does not require any sophisticated estimation of parameters. Some of them are obtainable directly from publicly known data. Some other describe the financial situation of the household and are based on the data that each household has the access to (e.g., current income of the household members). There are also the parameters that reflect preferences of the household members(e.g., their risk aversion). The construction and interpretation of preferences in the model is intuitive, thanks to which, the preference parameters may be directly provided by the household members.No sophisticated estimation is needed. The concept refers to a two-person household, instead of treating household members as independent single individuals. To the advantages of a two-person model belongs the fact that it allows for such financial plans, in which the costs that are attributed to each particular person do not need to be covered in 100% during the retirement phase of the lifecycle. This is possible thanks to the risk sharing by the household members, or, to be more precise, thanks to the capital transfer between them. A two-person approach has, however, its disadvantages resulting from higher level of complexity. Some problems of the burdensomeness resulting from the bi‑dimensionality had to be overcome. An original way of risk aversion expressing, proposed as part of the concept, enables the necessary simplification. It allows to reduce the number of scenarios to be taken into consideration in the procedure of plan optimization.

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Wykorzystanie wielosektorowych modeli makroekonomicznych w modelowaniu krajowych systemów energetycznych

Wykorzystanie wielosektorowych modeli makroekonomicznych w modelowaniu krajowych systemów energetycznych

Author(s): Mariusz Plich,Jurand Skrzypek / Language(s): Polish Issue: 105/2017

Energy models are an important research tool for socio-economic development, especially in the context of the energy security, natural resources depletion and the climate policy. The purpose of this paper is to identify desirable features of these models and, on this background, to point the properties of multisectoral energy models, which determinate their suitability of energy models construction. In the article we are presenting the energy system as a separated part of economic processes, what is mirrored in the energy models, in the form of an energy and economic block separation. The analysis of the classifications, known from the literature, leads to a conclusion, that the role of the economic blocks is usually – but wrongly – marginalized. High degree of detail, which characterizes the energy models, should encourage to construct the economic block with an application of multisectoral approach, with the highest level of disaggregation – this has a positive effect on the quality of blocks integration. We emphasize the role of multisectoral macroeconomic models in that context by analyzing their basic properties and presenting the example form of energy demand equations, whose results can directly power the energy block.

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Modern Firm Theory and Its Print on Corporate Governance

Modern Firm Theory and Its Print on Corporate Governance

Author(s): Plamen Tchipev / Language(s): English Issue: 5/2017

A number of previous projects on corporate governance, accomplished with the participation of the author, pointed out the fact that the set of instruments, regulations and good practices of corporate governance are a product of a more or less predetermined choice; of the firm specific creation and functioning in a certain economic system. Even more, the very firm, (called in general corporation or, sometimes, company with the same meaning) - being itself a subject of analysis and influence by the corporate governance is also a “datum”. There are many hypotheses on the reasons and nature of these specificity, starting from the different legal system applied in the different countries, through the varieties of corporate finances systems, to the nature of the firm in general. The answers are not quite satisfactory. The current paper studies in a broader methodological frame the characteristics of the modern firm, which define the features, interact and determine the choice of a model or system of corporate governance.The analysis starts with the relation of the corporate governance to the institutional nature of the firm. The second section outlines the problems of defining the firm (the “paradox of the firm”) in the standard neoclassical economics. The third section draws special attention to the criticism of the transaction costs approach as defining the firm. The fourth section shows its contradiction with the other axioms of the classical and neoclassical economic paradigms and holds the thesis that the firm cannot be understood that way but only through its institutional nature. In the fifth section, with the help of the General Systems Theory, the firm is set in a wider frame of its relations with the market in general and the exchange of value (or utility, depending on the chosen explanatory model). The last section outlines the final conclusion that the firm (corporation) functions (through the value/utility mechanisms) as a base unit of distribution, which determines its contribution to the whole set of goods. Thus, the categories firm and corporate governance are in certain mutual order, and it creates the mentioned predetermination. The latter requires and suggests certain solutions for corporate governance adequacy. More concrete answers are also offered, for example to the question why the “stakeholders” cannot (and should not) be an object of the corporate governance.

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CHARACTERISTIC FEATURES OF THE CORPORATE STRATEGIES OF THE FOREIGN CAPITAL COMPANIES ON THE LIFE INSURANCE MARKET IN UKRAINE

CHARACTERISTIC FEATURES OF THE CORPORATE STRATEGIES OF THE FOREIGN CAPITAL COMPANIES ON THE LIFE INSURANCE MARKET IN UKRAINE

Author(s): Nina Bilous / Language(s): English Issue: 2/2017

In the article the presence of international insurance companies on Ukraine’s insurancemarket has been, in particular, in the area of life insurances. Influence of activity ofinternational companies on participants of insurance market of Ukraine is analysed. Thedirections of development of insurance companies activity are defined.

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APPROACH TO SYSTEMIC PROCESS OF THE ENTREPRENEURSHIP COMPETITIVENESS MANAGEMENT

APPROACH TO SYSTEMIC PROCESS OF THE ENTREPRENEURSHIP COMPETITIVENESS MANAGEMENT

Author(s): Liudmila Akimova,Maryna Korzh,Iryna Chub / Language(s): English Issue: 2/2017

In the article, the authors carried out a critical analysis of existing methods for assessing competitiveness, identified the advantages and disadvantages of these methods and proposed a functional approach for the process of assessing this market index. Competitiveness appears only under competitive conditions and as a result of competition. Competitiveness of the enterprise in countries with market economy is a result of plexus factors generated by the objective development of productive forces that reflect outcome of large monopolies policy in the struggle for quality, sales markets and getting profits. In the current conditions of the development of the Ukrainian economy, there is an urgentm need to improve the marketing system in domestic industrial enterprises and the existing tools for the formation of their competitive advantages in both domestic and foreign markets. Every year, Ukraine is increasingly integrated into world economic processes and becomes their direct participant. Transport plays a particularly significant role in these processes.

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COMPETITION IN THE SYSTEM OF ENSURING INVESTMENT SECURITY

COMPETITION IN THE SYSTEM OF ENSURING INVESTMENT SECURITY

Author(s): Zakhariy Varnaliy / Language(s): English Issue: 2/2017

The article investigates the problem of competitive environment formation in Ukraine, analyzes the dynamics of the level of competition in the economy as a whole and separately by industry. Also, a comparative analysis of the level of competition in commodity markets with the dynamics of investment expenditures of business entities was made. On the basis of this analysis it was concluded that the first is related to the changes in the second. It is proved that the nature of the problems that limit the development of the competitive environment lies in the plane of the institutional imperfection of the competition protection system, which is carried out by the Antimonopoly Committee of Ukraine.

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INFORMATION TECHNOLOGIES IN ENTERPRISE MANAGEMENT

INFORMATION TECHNOLOGIES IN ENTERPRISE MANAGEMENT

Author(s): Alla Sirotinska,Oleksandr Sirotinsky / Language(s): English Issue: 2/2017

The development tendencies of the information services market and electronic data interchange between enterprisesin Ukraine are studied. Functioning features of electronic data interchange systems and information systems of the enterprises are considered. The stages of work when choosing an information system for an enterprise and its introductionare proposed. The role of analytical accounting of economic activity in enterprise management is disclosed. The main prospects for the development of information technologies in enterprise managementare determined.

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APPLICATION OF VALUE ORIENTED APPROACH TO STRATEGIC MANAGEMENT OF PROJECT PORTFOLIO OF UNIFIED TERRITORIAL COMMUNITIES

APPLICATION OF VALUE ORIENTED APPROACH TO STRATEGIC MANAGEMENT OF PROJECT PORTFOLIO OF UNIFIED TERRITORIAL COMMUNITIES

Author(s): Ruslan Kostiukevych,Alina Kostiukevych / Language(s): English Issue: 2/2017

The unified territorial communities are new structural units in the administrative system of Ukraine. In addition to the problems of regulatory and financial nature, issues of scientific and methodological substantiation of the processes of strategic development of the unified territorial communities on the principles of applying modern methodologies and project management practices are also relevant. The article develops methodological approaches to the formation and management of project portfolios for the implementation of strategies for the sustainable development of unified territorial communities on the principles of applying a value-oriented model of project management. The organizational aspects of the introduction of project management in the united territorial communities have been developed based on the creation of a project management office (committee) for managing strategies. The proposed approaches to the formation of territorial strategies will help to ensure the community's economic development and the effectiveness of utilizing the resources available to the communities.

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CONCEPTUAL FOUNDATIONS OF ENTREPRENEURSHIP LIBERALIZATION IN THE HOTEL BUSINESS OF UKRAINE

CONCEPTUAL FOUNDATIONS OF ENTREPRENEURSHIP LIBERALIZATION IN THE HOTEL BUSINESS OF UKRAINE

Author(s): Igor Sazonets,Natalia Sipailo / Language(s): English Issue: 2/2017

The article defines the interpretation of the concepts of "hotel", "hotel industry". The characteristic features of activity of subjects of entrepreneurship of a hotel economy are determined. The principles of liberalization of business activity of hotel enterprises are offered. The work reveals the general issues of the classification of hotel business entities. The results of statistical observation of respondents of hotel enterprises in the Rivne region are described. The forms of liberalization of activity of business entities of hotel business are substantiated.

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FORMATION OF THE MARKET FOR ENVIRONMENTAL SERVICES IN THE CONTEXT OF RATIONAL WATER USE

FORMATION OF THE MARKET FOR ENVIRONMENTAL SERVICES IN THE CONTEXT OF RATIONAL WATER USE

Author(s): Alina Yuryevna Yakymchuk / Language(s): English Issue: 2/2017

This article comprises definitions of environmental services, environmental services market as well as the preconditions for creating a loyal environment for the development of environmental services market. We propose principles of improving the system of relationships environmental services subjects in the context of rational water resources use. The key moments of improving the system of rational water resources use while using market tools for environmental services have been described. We designate the principles of environmental services market forming in Europe. We analyze the issues of inheriting these principles in Ukraine and we propose the ways for their optimization.

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OFFSHORING DESTINATION CASE OF POLAND

OFFSHORING DESTINATION CASE OF POLAND

Author(s): Maria Halemba - Pawlik / Language(s): English Issue: 4/2017

The article shows that companies find difficulties to satisfy their customers with services quality and competitive price. Outsourcing and offshoring have been used by entrepreneurs in order to obtain significant cost advantages through the creation of economies of scale, access to the unique expertise of a third party, and the reduction or stabilization of additional costs. The study outlines the current position of Poland as an example of destination for entrepreneurs deciding to offshore their services and describes the benefits of offshore outsourcing to Poland for companies. This article examines the factors that influence effectiveness of offshoring for FDI. The author used the qualitative approach based on the single case study method followed by the quantitative research. The findings show that Polish market is acknowledged as one of the best destinations for the foreign companies for outsourcing and indicates what influences the choice. The paper concludes with implications and recommendations for future studies.

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RANKING THE CREATIVITY AND INNOVATION TECHNIQUES BASED ON THE IDENTIFIES INDICATORS IN IRAN’S AUTOMOTIVE INDUSTRY

RANKING THE CREATIVITY AND INNOVATION TECHNIQUES BASED ON THE IDENTIFIES INDICATORS IN IRAN’S AUTOMOTIVE INDUSTRY

Author(s): Mahtab Afsari,Hesam Javadi Vasigh / Language(s): English Issue: 4/2017

The current study aims at identifying and ranking the creativity and innovation techniques in automotive industry of Iran. Considering the purpose of the research, the current study is practical and in terms of method it is a descriptive-survey one. Data were collected using a questionnaire, and to confirm its validity and reliability, content analysis and Cronbach’s alpha coefficient were used, respectively. Fuzzy TOPSIS technique was used to analyze data. The results of the study show that fishbone diagram has been identified as the most important creativity technique in Iran’s automotive industry and creative mutation, nominal group, Delphi, creative visualization and returning to the customer techniques stand in the next ranks.

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