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Traditional methods used in operational activities

Author(s): Aneta Deneva,Sebastian Narojczyk / Language(s): English Publication Year: 0

The purpose of this chapter is to present the traditional methods used in operational management. The methods described include benchmarking, outsourcing, Just-In-Time, kaizen, TotalQuality Management, MRP I, MRP II, and core competencies developed in various periods of the 20thcentury to improve the planning process and efficient management of the flow of resources, goodsand information. Benchmarking consists of comparing the processes and practices used by one’s own enterprise with those used in enterprises considered to be the best in the analysed field. Outsourcing means separating from the organizational structure of the enterprise some functions performed by them independently and transferring them to other entities for execution. Just-In-Time is used toreduce work in progress and inventory levels in production and warehouse processes. Kaizen and TQM are based on the continuous diagnosis and improvement of all elements of the company. MRP methods are based on computer systems and clearly defined, inter alia, the volume of demand, order fulfilment time and provide other data relevant to the company’s logistics system and its operations. Core competencies are company-specific skills that are difficult to copy or win over to competitors.The authors focused primarily on the presentation of the main goals, principles of operation, as wellas the advantages and disadvantages of the selected methods in operational management.

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Effects of the Covid-19 pandemic on sport, video game, and tourism industry. Sentiment analysis of press, internet articles, and Twitter data

Author(s): Łukasz Bryl,Justyna Majewska,Szymon Truskolaski / Language(s): English Publication Year: 0

Purpose: The chapter examines the extent and level of the pandemic impact on sport, video game, and tourism industry by analyzing the emotional narration of articles related to Covid-19 effects on these industries so as to assess and predict the situation of industries during the pandemic and in the following years, but also to explain sources of positive sentiment for a given industry. Design/methodology/approach: The study provides a sentiment analysis of the global disclosure of the Covid-19 pandemic in the press, online articles, and social media (Twitter) with the use of three independent R packages. The final sample consisted of 142 articles; the oldest was published on January 23, 2020, whereas the newest one on October 14, 2020. Findings: Sentiment analysis revealed that the emotional tinge of the articles is much more positive for video games and soccer than in the case of tourism. In the case of video games and soccer, positive emotions such as “trust” or “anticipation” prevailed over much more common emotions of “fear” and “sadness” used about tourism. The impact of the pandemic was similar for video games and soccer, which was a mixture of negative and positive events. Research limitations/implications: Further research should use other resources such as the mass media or other data sources in addition to social media information and include a long-term analysis divided into stages of the pandemic as reactions and moods have been changing over time. Moreover, the factors influencing the perception of situations in different sectors of the economy should be identified in future research. Practical implications: The use of sentiment analysis shows that such quantification may be performed for new social phenomena before any hard (e.g., financial) data are available. Social implications: An approximation was obtained for quantifying the societal “general feeling” with regards to specific sectors affected by the pandemic. Originality and value: The chapter compares the response to the pandemic crisis of different sectors that reveal the sentiment contributing to the growth or difficulties of a given industry. The use of sentiment analysis enabled us to assess and predict the situation of industries during the pandemic before the hard and comprehensive data will occur.

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The Polish logistics real estate market as a link in international supply chains during the Covid-19 crisis

Author(s): Waldemar W. Budner / Language(s): English Publication Year: 0

Purpose: The aim of the study is to determine the emerging trends of changes related to the situation of uncertainty and increased risk in supply chains, and at the same time limiting the negative effects of the epidemic on the logistics industry. Design/methodology/approach: The study focuses on the analysis of changes in the logistics real estate market in Poland. The analysis period covers the years 2004–2020. The data used here comes from reports from real estate advisory companies and Statistics Poland. Findings: The last dozen or so years has been aperiod of dynamic development in the Polish market of logistic space and facilities. The year 2019 turned out to be arecord year in the history of the market in terms of the increase in warehouse space and Poland has become the sixth biggest warehouse market in Europe. The year 2020 and SARS-CoV-2 has brought a lot of uncertainty about the future, and the recession has become afact. Practical implications: More than half a year after the outbreak of the pandemic, several emerging trends of changes related to the situation of uncertainty and increased risk in supply chains, as well as approaches to limit the negative effects of the epidemic on the logistics industry, can be observed. These include: an increase in e-commerce preferences in relation to traditional trade; increase in stock levels; relocation of production sites. Originality and value: The observed phenomena indicate moderate optimism and the resilience of the logistics industry in the medium term. In turn, in the long run, production can be expected to be relocated to closer areas (domestic or European) in order to shorten the supply chain.

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Disruption of European agri-food markets due to Covid-19. The case of Poland

Author(s): Magdalena Śliwińska,Rafał Śliwiński / Language(s): English Publication Year: 0

Purpose: The chapter describes the economic impact of Covid-19 on the agri-food market in Poland and its influence along food supply chains by discussing demand accommodation and alterations in supply channels. Design/methodology/approach: The study delivers a critical literature review, analyzes secondary data, and utilizes available statistics. Findings: The chapter shows the impact of Covid-19 on the various branches of agri-food sector like cattle meat, cereal, poultry, pork, milk, and horticulture. It shows quantitative information, time period, the level of sales decreases and increases, and price fluctuations caused by the coronavirus pandemic. Furthermore, the study scrutinizes consumer reactions to the first and latter period of economy lockdown in respect to the food products. Food demand adjustments were shown in respect to types of food product, shopping frequency, and the use of alternative delivery channels. Practical implications: The analysis of the agri-food market reaction to the Covid-19 pandemic allows us to find bottlenecks in the system and design support programs to help farmers, intermediaries, and delivery channels of food to build resistance to similarly extreme situations. Originality and value: The chapter presents in a short and complex manner the Polish agri-food market’s reaction to the coronavirus pandemic. The reactions of particular branches and the entire agri-food sector can be of interest to academics, governmental institutions, administration officials, and students.

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Consumer acceptance of AR Technology in e-commerce in the light of the Covid-19 pandemic. A conceptual perspective

Author(s): Małgorzata Bartosik‑Purgat,Tomasz Grzegorczyk,Wiktoria Rakowska / Language(s): English Publication Year: 0

Purpose: The main objective of the chapter is threefold: to conduct literature review, to develop a model of consumer acceptance of augmented reality (AR) in e-commerce, and research hypotheses. The model will emphasize the factors (motives and risks) affecting the acceptance of AR technologies by e-commerce consumers. Design/methodology/approach: The study used inductive research approach whose results will be the key basis for primary research. The main research method was literature review: the meta-synthesis method. Findings: We developed a model of factors influencing the acceptance of AR technology in e-commerce based on the Unified Theory of Acceptance and Use of Technology (UTAUT2). The following factors were included into the proposed model as predictors of acceptance: performance expectancy, effort expectancy, hedonic motivation, perceived AR risk, privacy risk. Research limitations/implications: The main limitation of this research is its conceptual character. Future research should aim to empirically verify the proposed model. Practical implications: By showing the possibilities and actual acceptance of AR’s use in selected countries, the research might contribute to the development of a set of guidelines for enterprises in the e-commerce branch and, eventually, improve their international competitiveness, e.g. by guiding product and promotion strategies. Originality and value: Based on the literature review, this chapter proposes anovel research model of consumer acceptance of AR in e-commerce, which can be verified in the future research.

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Women’s entrepreneurship in the Covid-19 pandemic

Author(s): Alicja Hadryś-Nowak / Language(s): English Publication Year: 0

Purpose: The main goal of the chapter was to shed light on the challenges that women entrepreneurs face during the Covid-19 pandemic and answer how women entrepreneurs reorient their businesses in this situation. Design/methodology/approach: The study used secondary data (literature and reports), along with direct interviews with women entrepreneurs located in Poland. Findings: The Covid-19 pandemic and the ensuing disruption have disproportionately impacted women. In the near future, women will experience increased unemployment and household responsibilities, along with the exacerbation of social injustice. At the same time, the Covid-19 pandemic catalyzed changes. The findings indicate that some women entrepreneurs aggressively adapted their businesses to resist the short-term impact of the Covid-19 pandemic. There appeared acceptance for remote work models, acceleration in the use of digital channels on both the demand and the supply side, and a shift toward digital over physical interactions, all of which have the potential to level the playing field, especially for women entrepreneurs. Research limitations/implications: Further research in this area should focus on the effects of protracted restrictions on doing business and the growing problems associated with managing a pandemic. Originality and value: The study adds anew dimension to entrepreneurship considerations by recognizing that gender issues are rarely considered in times of crises of economies.

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Sustainable development and corporate social responsibility - organisation level

Author(s): Magdalena Stefańska,Blaženka Knežević / Language(s): English Publication Year: 0

Sustainable development and CSR are included in the strategies of most companies. To learn more what companies do for the environment and society—usually, one can visit their websites and read about their SD or CSR activities in reports. However—the quality of such reports differs—from minimum information to very deep immersion into explaining to stakeholders how an organisation understands its role in society. The aim of this chapter is to explain how sustainable development (SD) and Corporate Social Responsibility (CSR) influence corporate strategy, both on a corporate level—mission, vision and its goals, and functional areas of organisation.

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Sustainable development in marketing strategy

Author(s): Atanaska Reshetkova / Language(s): English Publication Year: 0

Marketing strategy is an important part of every business strategy because it is crucial in attaining marketing goals and to grant the overall success of a company. Broadly speaking, marketing strategy allows to define the long-term marketing goals of a firm and what needs to be done in order to achieve these goals. This provides a set of planned steps to bring the marketing mix into the desired state to achieve the overall business goal. In this sense, the marketing strategy is never created independently based on the corporate level strategy. Marketing management has evolved over the past decade to become customer-cantered, and it continues to change along with consumers. It is not surprising that the concept of sustainable development (SD) has left its footprints on marketing strategy, as today it has strong impact on the consumer’s mind and behaviour. Managers face the challenge of incorporating the main dimensions of sustainability into the marketing strategy—environmental, social and economic aspects. The main goal of this chapter is to explain how SD is integrated with marketing.

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Sustainability in human resource management

Author(s): Magdalena Stefańska / Language(s): English Publication Year: 0

The concept of sustainability is referred to the basic functions of human resources (HR)—recruitment, motivation, assessment and control. They should embrace sustainability, not just for organisational effectiveness and long-term economic benefits, but also for ethical reasons. Owing to SHRM, the awareness and behaviour of the whole organisation may strongly express SD goals inplanning and implementing the whole corporate strategy. Frequently, the term ‘sustainable practices’ in SHRM is congruent with CSR. The main goal of the chapter is to explain how Sustainable Development Goals can be implemented in human resource management (HRM) and translated into sustainable human resource management (SHRM).

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Sustainable development in accounting

Author(s): Marzena Remlein / Language(s): English Publication Year: 0

The purpose of this chapter is to present and discuss the essence and importance of accounting in the concept of sustainable development. Considerations are particularly focused on reporting CSR issues. The growing importance of the idea of sustainable development and the concept of Corporate Social Responsibility that arose on its basis, gave rise to the need for accounting systems to develop solutions enabling the provision of information on the methods and results of implementing these concepts in entities operating on the market. The interest in accounting with regard to the area of sustainable development has contributed to the development of vocabulary related to measurement, calculation, disclosure, reporting and verification of information on the activities of units for sustainable development. Reporting on Corporate Social Responsibility (CSR) is still largely voluntary and non-standardised. However, there are various international organisations that develop frameworks and voluntary standards for non-financial reporting, the so-called Social Reporting Standards. The most important EU legislative initiative in the field of disclosure concerning environmental, social and corporate governance information is Directive 2014/95/EU of the European Parliament and Council from 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity in formation by certain large undertakings and groups. The combination of financial information (financial statements) with non-financial information relating to the environment, society and corporate governance is included in the integrated report. In Poland, the requirement to present non-financial information related to CSR was introduced by the Accounting Act. Polish companies should prepare a separate report—“Statement on nonfinancial information”. In 2017, the Polish Standard of Non-Financial Information (SIN, 2017) was published to help enterprises fulfil their obligations under the EU Directive.

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Corporate Responsibility towards employees – Raben Group

Author(s): Natalia Jankowska / Language(s): English Publication Year: 0

Human capital management in an organisation is one of the key areas of company success and its competitive advantage, particularly in a service company such as Raben (Zając, 2014). As an entity operating in the Transport Forwarding Logistics (TFL) sector, its decisions in the area of human resources management depend on industry factors. This is evidenced, among others, by the structure of employees. The aim of this case study is: first, to draw attention to the problems that companies operating in specific sectors may face. The second goal is to identify their ability to implement the concept of a company responsible to employees. The company strives to take the goals set by the United Nations (SDGs) into account. These include taking care of appropriate employment structure, ensuring employee development, ensuring diversity, caring for work-life balance as well as safety in the workplace, and building relations with external stakeholders. The specificity of the industry in which the presented company operates makes it pursue a number of Sustainable Development Goals—both with regard to employees and in terms of environmental protection. Some need to be adapted accordingly.

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Product life-cycle – problems of product planned obsolescence and fast fashion

Author(s): Magdalena Stefańska / Language(s): English Publication Year: 0

Corporate Social Responsibility (CSR) is an idea according to which enterprises take responsibility for the effects of their activities and undertake actions aimed at reducing negative effects and improving quality of life of a broadly understood group of stakeholders. In turn, marketing is a concept according to which all activities of enterprises are undertaken with the intention of satisfying consumer needs in the best possible way—by creating and modifying products and services. It would seem that they both—CSR and marketing, share the same goal—providing value to consumers in order to improve their quality of life. However, it can be seen that there is a whole scope of activities under the marketing instruments that primarily serve only to intensify sales. This would not raise any major objections if not for the fact that the occurrence of the demand for restitution is accelerated due to the planned shortening of the product life-cycle. This is in contradiction with the idea of CSR and sustainable development as well as sustainable consumption. So why is it a practice that does not cause widespread outrage and resistance from buyers? And how should it be dealt with? Two widely implemented strategies of manufacturers and retailers are described in that chapter: the 1st one is planned product obsolescence, the second—fast fashion. Retail chains follow the fast fashion trend—offering customers short, frequently changing product lines. However, seeing the effects of this type of strategies, it is possible to undertake a number of activities aimed at reducing the negative effects of these actions.

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Social responsibility and quality in practice

Author(s): Krisztián Kis / Language(s): English Publication Year: 0

In this chapter, two excellent examples from Hungary are presented as cases related to the issues discussed in Chapter 2.6, titled Social responsibility and quality: issues of competitiveness and sustainable development. One case is about a Sustainable restaurant initiative introduced by the Heroes of Responsible Dining Foundation, while the other concerns the Safe place certification developed by the CertUnion certification and consulting company. Both cases are examples for presenting responsibility, quality and innovation from different approaches while contributing to both competitiveness and sustainable development.

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Social supermarkets as a solution to food waste and issues of poverty

Author(s): Blaženka Knežević / Language(s): English Publication Year: 0

The main objective of this chapter is to present and discuss a possible solution to food waste as a problem occurring in traditional food supply chains, on the one hand, due to food overproduction, and on the other, poverty as a result of economic and pandemic crisis in Europe. The structure of the chapter covers two areas: 1. Food waste as a problem in food supply chains. 2. Reduction of poverty by implementing social supermarkets as new players in the food supply chain.

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Sustainability in renewable energy businesses

Author(s): Gabriel Grabowski / Language(s): English Publication Year: 0

The sustainable development goal 7 (affordable and clean energy) seeks to ensure that energy is clean, affordable, available and accessible to all (SD Goals, https://unstats.un.org/sdgs/indicators). Replacing fossil fuel-based energy sources with renewable ones, which include: bioenergy, direct solar energy, geothermal energy, hydropower, wind and ocean energy (tide and wave), would gradually help the world achieve the idea of sustainability. Renewable energy technologies provide an excellent opportunity for mitigation of greenhouse gas emission and reduce global warming through substituting conventional energy sources (Panwar, Kaushik, & Kothari, 2011; Owusu& Asumadu-Sarkodie, 2016). Nevertheless, investment costs, as well as political environment andmarket conditions, have become barriers preventing countries from full utilisation of the potential to improve the quality of air or water. The aim of the chapter is to initiate discussion on the importance of renewable energy as wellas its environmental and society-related health aspects. Two short case studies presented in the text allow to describe projects concerning solar installations. In the first case, it is educational institution investing in thermal solar panel systems to supply heat for domestic hot water. The results of research conducted by Filho et al. (2019) on a small sample of universities from around the world indicate that in more than half of them, only a small share of energy consumption comes from renewable sources, whilst the European Union policy has identified promotion of energy efficiency in buildings, including educational ones, as a key objective of its energy and climate policy (EPBD Recast, 2010). In the second case study, thoughts on photovoltaic systems installed to supply buildings with electricity are contained and the problem of public resource support forms for that purpose are discussed.

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ORGANIZIRANO UKLJUČIVANJE U PROIZVODNE I RAZVOJNE LANCE RAZVIJENIH − JEDINI NAČIN BRŽEG RAZVOJA MALIH EKONOMIJA U RAZVOJU

Author(s): Ljubo Jurčić / Language(s): Serbian Publication Year: 0

Global industrial organization and international trade have entered a new era and changed the relative economic position of countries participating in the global market. Global supply or value chains are a key new paradigm within theories of international trade that explains modern vertical specialization of countries within the global organization of production.They provide development opportunities for countries participating in the chain. For a comprehensive understanding of the organization and functioning of the modern global economy and international trade, as well as opportunities for development within it, it is necessary,above all, to understand the functioning and create conditions for effective inclusion of own economy in global value chains (GVCs) as a new paradigm. Systematic, organized and encouraged development of European global value chains, would raise the development and production potential of the countries of the Western Balkans , as well as the added value(GDP) created in them. One of the obstacles to such policy is that profit and wealth are created on the difference in development among countries.

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KAKO UBRZATI EKONOMSKI RAST I RAZVOJ ZEMALJA ZAPADNOG BALKANA?

Author(s): Radomir Božić / Language(s): Serbian Publication Year: 0

The paper points out the need, importance, determinants and policies of accelerating economic growth and development of the Western Balkan countries in the function of catching up and convergence with developed countries. The starting point is that to achieve this goal, adequate policies are needed at the macro and micro level, the implementation of which should ensure the strengthening of competitiveness of companies from these countries, appropriate integration into global value chains and catching up with market leaders from developed countries and at the same time convergence of the secountries with developed countries.The first part of the paper elaborates the experiences of Central and Eastern European countries, based on the application of information and communication technologies and the achievements of Industry 4.0 and their contribution to production and productivity growth, which for some of these countries was faster than in developed EU countries(EU15) and thus enabling them to catch up or reduce the development gap.The second part of the paper presents the experiences of developing countries, including Central and Eastern European countries, in the internationalization of their companies through foreign direct investment (OFDI), as determinants of acquiring and maintaining competitiveness and catching up with companies from developed countries as market leaders and contribute to the convergence of these countries with developed countries.The third part of the paper synthesizes the basic potentials, challenges and possible answers of the creators of economic and business policies of the Western Balkans as small open developing economies in the function of accelerating and sustainable economic growth and development at micro and macro level and their convergence with developed countries.

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NOVA RAZVOJNA PARADIGMA – POST-COVID RAZVOJ

Author(s): Tihomir Domazet / Language(s): Serbian Publication Year: 0

The relative development of Croatia in relation to the EU27 was 85.1% in 1986, and 59.5%in 2020, while the same ratio for Serbia is 66.0% (1986) and 37.5% (2020), and for allCEEC17 countries accounted for 62.0% (1986) and 70.4% (2020), respectively. So, simplified,it is a failure of convergence.Gross national income (GNI) is also unfavorable, so the GNI/GDP ratio CEEC17 was 85.0%in 2008 and 97.5% in 2019.Several CEEC17 countries essentially failed to resolve the crisis (2008), and then the whole world was hit by a pandemic, which can be classified as a natural disaster. Although almost all countries in the world are trying to solve the COVID-19 crisis by the common economic and financial measures, problems and doubts arise at the same time.There are some estimates of economic growth in the period 2021-2030, for example for Croatia2.0% on average per year, according to which individual development would still be significantly below the 1986 level. Thus, the question arises as to whether significantly higher growth and development can be achieved in the period 2021-2030, or what measures should be taken to achieve this.The new system is based on several postulates: (i) abandonment of existing economic models as well as economic theories that are no longer valid, (ii) creation of a development paradigm based on new social and economic relations brought by COVID-19, (iii) greater use of knowledge, technologies for the benefit of labor and society as a whole and (iv) a new relationship between economics and philosophy as the driving force of development.COVID-19 brings tremendous changes, and the existing Western civilization cannot provide answers to insoluble contradictions, which means that a new world and a new system is just emerging.A podcast to the new system is a possible contribution of regional connectivity to the new development paradigm.

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SKRIVENI POKRETAČI RAZVOJA MALIH EKONOMIJA

Author(s): Brano Markić,Marko Markić / Language(s): Serbian Publication Year: 0

The relative position of economies in the global distribution of income is changing. The logical question is how can small economies progress in their relative position in generating and distributing income, how can they improve their relative position? The paper the reforeemphasizes and highlights the hidden drivers of small economy development that they can identify, activate and follow in order to improve their relative position in income distribution.Mathematical descriptions of economies based on assumptions and selection of the most important variables from the aspect of economic growth are described by growth models. Entrepreneurship in our time is an activity, a process, an invisible assumption and a driver of economic development. In the research methodology, the paper hypothesizes that entrepreneurship,measured by the rate of emergence (birth rate) of new enterprises and the growth of gross domestic product are significantly related. Based on empirical data for EU countries,this link exists, and can be interpreted as moderate. Gross domestic product growth and entrepreneurship are related, and their causal relationship has not been empirically determined.In addition to entrepreneurship, the paper emphasizes economic policy as another invisible, hidden, but important driver of economic development. Therefore, encouraging entrepreneurship through economic policy measures is another important invisible driver of economic growth.

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BANKARSTVO U BIH KAO DIO MAKROEKONOMSKE I POLITIČKE REALNOSTI, STRATEGIJA RAZVOJA I IZAZOVI U BUDUĆNOSTI

Author(s): Berislav Kutle / Language(s): Serbian Publication Year: 0

In the post-war period of development, BiH adopted regulations that, in addition to the transfer of knowledge from foreign banking, influenced the development of this sector. The banking sector has continued its further development by accelerating harmonization with EU regulations, so that BiH in this area is at the European level. Recently, however, government regulations have increasingly lagged behind current banking development needs.Banking in the future will be significantly different from today. The process of planning interest income should not be too demanding, as opposed to non-interest, which will be a great challenge for all those who have the appropriate infrastructure to implement it. Taking into account all global trends and their impact on banking, it will be necessary to look for solutions based on customer needs and preferences and define products accordingly. In this context, it is necessary to develop key competencies for a new way of doing business, create an organizational structure adaptable to new circumstances, create new products and make decisions that will increase the level of connectivity.

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