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IMPLICATIONS OF GLOBALIZATION ON CROSS CULTURAL MANAGEMENT THE CASE OF BOSNIA AND HERZEGOVINA

Author(s): Azra Branković,Velid Draganović / Language(s): English Issue: 1/2012

We live in the era of globalization. Economies of the world are connected and without borders. The whole world is a source of business opportunities. Trade barriers are falling, money flows freely across the national borders. In globalized economy, you can buy and sell everything almost everywhere in the world with the click of mouse. Everything is global, products, standards, customers, competitions, workforce, and managers. Global managers are looking for the best source of raw materials and the best markets all around the world. However, the most important task of a global manager is to find the best people worldwide. Companies are located across the world and hire people and managers from all parts of the world. The most important characteristics of a modern global manager are to understand other cultures and the ability to work with people from different cultures. Many business deals around the globe failed simply because managers did not understand other cultures. Primary research has been done on the sample of 50 managers from all parts of Bosnia and Herzegovina. The purpose of this research is to determine the cultural characteristics of managers in Bosnia and Herzegovina and their ability to respond to the challenges of globalized world.

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THE GLOBALIZATION INFLUENCE ON THE WORKING FORCE MIGRATION

Author(s): Ljupco Vckov / Language(s): English Issue: 1/2012

The subject of the scientific study of this paper is the influence of globalization on the movement of labor relations and labor market. Labor mobility and flexibility of the labor market have a significant impact on overall economic developments and especially the change of environment, migrations, educational structure and other important indicators for determining the degree of correlation between the¸phenomena. History teaches us that when we analyze the early development of the globalization along with this phenomenon there are emerging trends of migration, which are necessary to take into account when analyzing the trends of movement of the labor market. The international movement of labor migration means that it can be analyzed in terms of outward movement or so-called external migration, which is under the direct influence of globalization processes, but not less important is the internal migration that which occurs within the state and represents an important factor in the balanced development and regionalization of a country. Assuming that these processes (globalization and migration) in the future will show even greater growth, it is necessary to study the positive and negative effects that occur in each national economy. At no time we should not forget that migration has an impact on the country where labor is moving as well as in addressed countries. Any neglecting or underestimation of the effects of these processes can have extremely negative impact on the countries participating in this process. The aim of this paper is to try to locate the benefits of the developments of these economic trends and to affirm, and also locate the negative effects of afore mentioned processes, and as well as focusing on them and trying to propose solutions to mitigate and overcome these negative effects.

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THE INFLUENCE OF REGIONAL ECONOMIC INTEGRATION IN THE DEVOLOPMENT OF GLOBALIZATION

Author(s): Nasir Selimi / Language(s): English Issue: 1/2012

Regional economic integration is an agreement on cooperation in the economic sphere between two or more states. When we say economic cooperation activities, we mean all forms of economic activities and ways that the member countries can achieve. Lately in the framework of this cooperation there is an expansion and deepening of a large number of shapes and economic activities. Within these economic activities we distinguish the following: the trade of member countries, the flow of foreign direct investments, services in various fields, the system of standards and intellectual property standards, giving and receiving credit, franshizm, licensing, harmonization of trade policies, tax harmonization, strategic alliances and joint ventures, the harmonization of legislative policy, international rules, etc. The Regional economic integration is organized at different levels. Each level is distinguished from each other, the level of the highest ranking includes something more than the previous one. In general term, these regional economic integration levels are known as: free trade area, customs union, the common market, economic union and political union. The main reasons why countries are grouped in the REI are two: economic nature and political nature. Liberalization of international trade and development is one of the main determinants of globalization. Almost all economists agree that the economic growth of countries depends on opening oftheir national economy to the global economy.

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DIRECT TAXATION IMPACT ON LEGAL STRUCTURES OF ACTIVE FIRMS IN ROMANIA

Author(s): Vasile Nicolae Popeangă,Alina Georgiana Holt,Gabriela Dobrotă,Maria Felicia Chirculescu / Language(s): English Issue: 16/2010

Traders are sensitive to the tax obligations incumbent upon them as affecting the remaining resources after taxation and income use decisions. In general, the impact of taxation on economic activity is currently carried out under the following two aspects: the income taxes resizes economic and population incomes, influencing consumer demand and levying and collecting taxes provide the financial resources used to support state policies to increase economic. In Romania, the national economy amid the entry path of market economy, policymakers have taken a number of measures affecting, on the one hand, replacing the system of taxes, on the other hand, its subsequent adjustment. These approaches, most often have not achieved their intended purpose or, in some cases had the expected adverse effects. The objectives of this study concerns the implications of direct taxation on active companies in Romania the following lines: number and pattern of economic agents, legal structure, territorial dispersion and their size, but also economic- financial performance (turnover, gross investment, value added).

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TAX TREATMENT OF NON-TAXABLE INTRA-COMMUNITY COMMERCIAL TRANSACTIONS AND OF DISTANCE SELLING

Author(s): Lucia Paliu-Popa / Language(s): English Issue: 16/2010

Taxation represents the field that underwent the most changes after Romania's accession to the European Union, the Fiscal Code being entirely harmonized with the European legislation after 01 January 2007. Given the legislative changes occurred in the tax field and their complexity, in this article I intend to approach the tax treatments specific to non-taxable intra-Community commercial transactions and those relating to distance selling. I started from the fact that that the proper determination of tax treatments specific to intra-Community commercial transactions is of particular importance in establishing the reporting and payment obligations concerning the value added tax for entities from different EU Member States, significantly affecting the registration procedure in accounting of such transactions

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THE DOUBLE ASPECTS OF FINANCES, AND THEIR HISTORICAL CHARACTER

Author(s): Anton-Florin Boţa Moisin,Cerasela Măgură / Language(s): English Issue: 16/2010

In the present article the authors debate the theoretical aspects of finances, meaning the double aspect of finance: as a social practice and as a scientific discipline. The historical character of finances are treated under the aspects of the historical periode of Romania: the tribal/ primitive village periode, the feudalism periode, capitalism and socialism periode

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DIAGNOSTIC ANALYSIS OF ALCATEL-LUCENT LTD PERFORMANCES

Author(s): Ramona Răducan,Radu Răducan / Language(s): English Issue: 16/2010

This paper presents the conclusions of the diagnostic analysis regarding the performances of the Alcatel- Lucent Ltd., between 2006 and 2008. We tried to identify the main factors that determined distinct financial results for identifying feasible solutions for getting out from the economical crisis that has also affected this organization during last year. In our opinion, the managerial and the communicative style adopted, the motivation of the employees, the immediate adaptability to the economical, political, and social changes, and not least the flexibility of the decisional act are of major importance

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THE IMPACT OF THE FISCAL POLICY (CONCERNING THE DIMENSIONS OF TAXATION) ON THE ROMANIAN ECONOMY AND SOCIETY AFTER 1989

Author(s): Doina Iacob,Angela-Eliza Micu,Mirela Ionela Aceleanu / Language(s): English Issue: 16/2010

We tried to value two methodological principles underlined by the great specialists in economy, sociology and politology in the conception and development of this paper. The first of these principles refers to the unit (interdependence) between the history of the fiscal policies and the types of political power, these ones reflecting in their turn, different genres of human communities (of society). The second principle, in the spirit of which I intended to approach and analyze the fiscal pressure in contemporary Romania, consists in the connection between the general theory of taxation, the essential coordinates of the fiscal policies and the concrete- historical aspects of them according to time and space. The fund drive, the interdependence between the state types, the types of human community and the fiscal policies was thus, expressed synthetically by the economist and sociologist Joseph Schumpeter: ‘The spirit of a nation, the cultural level, the social structure, the political facts, all these and many others can be found in its fiscal history. The one who knows how to listen this message will understand much better the torments of the human history.’ The second methodological principle was exposed, in a much larger concept, by the American economist of Romanian origin Nicolas Georgescu Roegen in the following way: ‘The statement that the fundamental principles of economy are universally available can be true only in what concerns their shape. Their content is determined by the institutional frame. In the absence of this institutional content, the principles are nothing but some ‘empty boxes’ from which we can get only ‘empty generalities’. This doesn’t mean that ‘the standard theory’ operates with empty boxes

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PERSPECTIVES FOR DEVELOPMENT AND INNOVATION IN AUTOMOTIVE INDUSTRY

Author(s): Nicoleta Isac / Language(s): English Issue: 16/2010

Innovation and R&D activities are central to competitiveness. The ability of firms to compete in foreign and home markets depends crucially on innovative products that can be produced and sold at attractive prices. In the short run, productivity and labour costs are important competitiveness factors. In the long run, the ability of firms to innovate and invest in R&D take over as crucial determinants of competitiveness

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ROMANIAN BANKING SYSTEM FACING THE INTERNATIONAL BANKING CRISES OF 2007

Author(s): Bogdan Căpraru / Language(s): English Issue: 16/2010

In this study we try to underline the main implications of international financial crises of 2007 on the Romanian banking system. In this context, we have done a SWOT analysis of the Romanian banking system in October 2008. Also, we have assessed the consequences of Romania’s adhesion to European Union in the perspective of banking system structure

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THE IMPLICATIONS OF CRISIS ON THE GLOBAL RETAIL

Author(s): Violeta Gianina Dragotă,Nicoleta Buzilă / Language(s): English Issue: 16/2010

2009 marked one of the weakest economic performances in recent years and some economists had already mentioned a possible reenactment of the Great Depression scenario (1929 – 1930). Fortunately, the year ended on a positive note, with clear signs of recovery of the great economic powers, such as Japan and certain countries belonging to the Eurozone, which resumed their growth much faster than the analysts had predicted

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INTEGRATED RURAL DEVELOPMENT – THE CONCEPT, CURRENT FEATURES AND METHODS OF IMPLEMENTATION

Author(s): Ilinca-Valentina Stoica / Language(s): English Issue: 16/2010

The article revolves around inquiries concerning identification of solutions to help rural communities recover, especially deep rural communities, suffering from several dysfunctions, which most frequently have a defining impact on low living standards. One can nowadays notice a switch in European Union policy from sectoral, non-integrated policy, to territorial policy, which allows for the implementation of strategies promoting integrated rural development. This approach has the added benefit of a complex, many-sided approach to rural areas, involving the inventorying of all of its parts, in order to identify those that can support development of viable activities that at the same time comply with sustainable development guidelines

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MANAGERIAL ACCOUNTING VS FINANCIAL ACCOUNTING IN THE KNOWLEDGE SOCIETY

Author(s): Petre Ştefan,Tasica-Daniela Enache,Corina Maria Ducu / Language(s): English Issue: 16/2010

The knowledge society requires companies to take decisions based on rigorous information. The data which, in fact, lead to the adoption of certain decisions are provided by accounting. The determination and delineation of the importance and of the role of both managerial accounting and financial accounting is the approach of this paper work. The knowledge society gives a different conception on how information is structured so that to enable managers to quickly visualize the situation in the organization, to understand and to decide on an informed basis.

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NATIONAL RECENT DEVELOPMENTS CONCERNING ALTERNATIVE EVALUATION RULES

Author(s): Cristina Bontaş Bunea ,Mihaela Cosmina Petre / Language(s): English Issue: 16/2010

Under the current circumstances wherein the economic environment is influenced by increasingly fast and complex changes, having in view a required and expected development of Romanian market, the domestic firms will increasingly require financial tools. Consequently, their accounting, presentation and description of information related to individual or consolidated accounts and analysis of impact concerning their use over financial performances and position of entities are extremely hot topics for professional Romanian accountants, for which the issues approached in this paper are increasingly useful.

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CONTROL OF BANK CUSTOMERS CREDITWORTHINESS ANALYSIS PHASE

Author(s): Loredana Ciurlău / Language(s): English Issue: 16/2010

Customer's creditworthiness is determined by using indicators as a defining and expressing its ability to pay its obligations to assume, by signing the credit agreement. Analysis is the process by which the bank loan, based on information provided by documents provided by the client and any relevant information from other sources, determines whether the client has the necessary creditworthiness (ability to pay its obligations to assume the credit signing) and seeks to limit the maximum bank exposure to credit risk. The process of credit analysis will include an analysis of formal and substantive analysis, which will have both a quantitative dimension and a qualitative

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PARTICULARITIES IN FINANCING THE ENTERPRISES FROM THE EUROPEAN UNION

Author(s): Valentina Diana Ignătescu / Language(s): English Issue: 16/2010

Through this paper we will identify the main sources of financing preferred by enterprises in the European Union, making separate analysis for each country. Thus, we will identify what proportion of firms from the EU countries use their own resources to finance their activity and what proportion use the external financing. After this analysis we will present the sources of financing preferred by groups of countries: developed and emerging, and we will identify if there are major differences between them

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CORPORATE SOCIAL RESPONSIBILITY – A CONCEPTUAL APPROACH

Author(s): Sorin Suciu,Vasile Gherheş,Dalia Petcu / Language(s): English Issue: 16/2010

Rapidly evolving and having a variety of definitions, the concept of Corporate Social Responsibility is under the sign of a paradox: it seems to be one of the most comprehensive and, at the same time, one of the vaguest concepts. In the literature has often been argued that the ambiguity (vagueness) of the concept is inevitable, given that it „means something” but „not always the same things for everybody”. This article proposes an overview of the main definitions of CSR and its conceptual dimensions

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COMPANY FINANCIAL STATEMENTS AND COMPARMENT BETWEEN U.S.GAAP AND IFRS

Author(s): Alin Emanuel Artene,Crăciun Sabău,Lucian Ioan Sabău / Language(s): English Issue: 16/2010

The paper is a overview if you prepare financial statements in accordance with U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). International Financial Reporting Standards (IFRS) are now required for consolidated financial reports for all European Union exchange-listed companies. Other countries have also adopted IFRS or IFRS-equivalent financial reporting standards. IFRS differ from U.S. Generally Accepted Accounting Principles (GAAP) in many key areas. The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are working on various convergence projects designed to reduce or eliminate differences between the two sets of reporting standards

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THE IMPACT OF FUNDING RESOURCES ON AGRICULTURAL COMPETITIVENESS

Author(s): Andrea Fehér,Păun Ion Otiman,Vasile Goşa / Language(s): English Issue: 16/2010

Financial support granted to agriculture from both community and national public funds, but also by means of credit from specialized banks (Agricultural Credit – France, Robobank – Netherlands, Raiffeisen Bank – Austria and Germany), has prompted the development of the process of sustainable capitalization of agricultural activities and the financing of intermediate consumption for the appropriate high-performance technologies manifested in a higher efficiency which, in turn, has led to lower unit costs, competitiveness and profitability.

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INTERNATIONAL FUNDING AND LENDING

Author(s): Mihaela Pătraşc / Language(s): English Issue: 16/2010

The practice of recent years has developed a series of specific foreign lending mechanisms involving a large number of banking consortia and other financial intermediaries. The international credit and debenture market analysis highlights the major problems faced by developing countries in financing their internal deficits. External debt accumulated over time by developing countries to accelerate structural reforms has now become a global problem that concerns both debtor countries and especially international creditors

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