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Measurement and Assessment of Effectiveness of Auxiliary Processes of Production in Management of the Cement Industry Companies

Abstract

In the paper, there has been discussed the problem of measurement and assessment of effectiveness of auxiliary processes [Kaplan: 2001, Porter: 1985] of production in the enterprise of the cement industry operating in international markets. The applied research method is literature studies and the case study, which will allow for the accomplishment of the objective of the paper which is the parameterization and assessment of costs of ancillary activities of production in the area of maintenance.

The paper is important and up-to-date since auxiliary processes of production generate high costs, therefore, they should be within the area of interest of managerial staff of these companies.

Open access
Optimal Employment Formula – Accounting and Tax Approach

Abstract

Human resource is the most important investment level economic entity and it is the only able to increase its value over time. The burden of managing human factors is quite high. Both employers and employees are seeking optimal solutions on the type of employment that will bring the greatest benefits.

Open access
The Promotion of Young Entrepreneurs for Development Small and Medium Business

Abstract

Promoting entrepreneurship is an essential component to ensure economic development at the national and the regional level. Entrepreneurship in young people may directly stimulate them and positively influence the generations and communities in which it operates.

Successful young entrepreneurs in identifying those aspects hold ideas that will contribute to the success of the business and have availability to conquer niches of business that other entrepreneurs have ignored them or have them watched in disbelief.

Over the past few years, employment of young remains one of the main problems that persist, problem on the development of market economy has boosted it and deepened it, emphasizing the correlation between the supply and demand of labour force as a whole.

Open access
Study Regarding the Process of Identifying and Evaluating Risks in a Public Entity

Abstract

In any field of economic, political or social activities, the issue of risk emerges, which implies consequences that cannot be always anticipated or predicted. Lack of knowledge of the risks that may affect the achievement of public entity objectives, of causality factors, and of action measures to materialize them may lead to negative consequences for the entire economic activity.

In this context, identifying and assessing risks (probability of occurrence and impact on activity) are mandatory and determinant actions in the process of knowing the mechanism of action of each risk and implementing appropriate protection strategies. Based on the documentary research, fieldwork and applicable legislation, and empirical research conducted within a public entity, we have concluded that risk management within the public entity is a process that leads to improved performance and governance, even if it is an additional process to existing ones.

Open access
The Upshot of Money Supply and Inflation in Nigeria

Abstract

This study empirically investigates the upshot of money supply on inflation in Nigeria using annual time series data spanning from 1970 to 2016. Co-integration and Autoregressive Dynamic Error Correction Model (ADLECM) approach was utilized. The results showed that money supply does not considerably influence inflation both in the long and short run possibly because the country is in recession. The ECM has the correct sign of negative and it is significant meaning that about 21% of the errors are corrected yearly. The Granger causality outcome demonstrates that, there is no causality between money supply and inflation in Nigeria within the study period and vice-versa. The implication of this is often that there are different economic conditions which are key determinant of inflation in Nigeria. The study recommends that the government should diversify the economy, minimize importation by encouraging local production of products and services. The CBN should guarantee an exchange rate policy that is essentially determined by the state of the economy and not by speculators being a net importation economy. Also, the CBN should look inwards into the current interest rate and see how it can be regulated in such a way that will encourage private and foreign investors to be able to invest in the country. This in turn, successively increases income, infrastructure development and economic growth at large.

Open access
Business History in Poland: Current State and Future Potential

Abstract

Purpose: This article explores the gap in the business history literature devoted to Central and Eastern Europe and discusses the potential of conducting business history research in Poland. Methodology: This is an explorative and tentative study based on a recently developed database of 387 Polish companies which are more than 100 years old. Findings: The article explores the reasons behind the lack of business history debate in the Polish academia and discusses its future potential. We argue that given the size of population and a unique historical context, the Polish sample is worth studying as it can provide valuable contributions to well established debates in the field of business history debates covering issues such as continuity, longevity, and survival strategies. Research limitations and implications: This is an explorative and tentative study and therefore has several limitations, including a limited scope of companies included in the database, sources of data, and poor quality of corporate archives. Originality and value: This is the first article explicitly discussing the potential of conducting business history studies in the context of empirical data concerning Polish long-lived companies.

Open access
Cross-country Differences in Reporting Practices – the Case of Provisions for Liabilities

Abstract

Purpose: The aim of the study was to explore and compare reporting practices on provisions for liabilities in different countries. Methodology: The research was limited to the types of provisions that are addressed in the International Accounting Standard 37 - Provisions, Contingent Liabilities and Contingent Assets. For the purpose of the study, financial statements of the biggest public companies in Great Britain, Germany and Poland have been chosen to be taken into consideration. The following detailed issues have been explored: - Presentation of the types of provisions in a statement of financial position and additional notes to a financial statement, - Presentation of the amounts of provisions made, used, and reversed during a given period and the effects of changes in the discount rate, - Scope and quality of descriptions of the nature of obligations presented by entities. The results of the analysis have been viewed from two perspectives - the areas of compliance and non-compliance of reporting on provisions with IFRS have been identified and a comparison of the extent of compliance with particular requirements between companies from different countries has been developed. Findings: The results of the analysis have revealed that companies from selected countries demonstrate different levels of compliance with International Financial Reporting Standards (IFRS). Substantial differences in the scope and the quality of descriptive disclosures on provisions have been also identified. Originality/value: The study contributes to the research on cross-country differences in reporting practices and indicates the need for a further analysis of the underlying determinants.

Open access
Entrepreneurship in Virtual Economy: the Case of Currency One SA

Abstract

Purpose: The scientific purpose of the study is an attempted synthesis of interpretation of “the virtual economy” and “the virtual environment” in the Polish and foreign literature on the subject. The cognitive purpose thereof is to offer an identification and a qualitative analysis of the factors that determine the development of e-entrepreneurship using an example of business practice. Methodology: The theoretical basis of the study is a scientific research of leading scholars on the theory of entrepreneurship in the context of virtual economy. An exploratory, qualitative case study methodology has been applied for the purpose thereof. The research has been conducted using the example of Currency One SA, operating on the currency exchange market in virtual economy. The application of the empirical method of a case study has made it possible to characterize the essence of e-entrepreneurship and present the studied phenomenon in business practice. Findings: Research results reveal an existence of interdependencies between the intellectual potential of staff members and the market success of a company. Explanation of the critical success factors, showing the implementation of innovative ICT solutions and stages of company development, illustrates how the existing theory is experienced by practitioners in virtual economy. Furthermore, the paper confirms the positive impact of e-entrepreneurship on the effectiveness of the company subject to analysis, and presents virtual economy as a completely new sphere through which it is possible to offer new products and services. Research implications: The rationale for conducting research on case studies is the need to orient the practice towards a better understanding of modern economic reality. The study may provide a starting point for empirical quantitative research, as well as act as a contribution to the discussion on entrepreneurship in the rapidly changing virtual economy. Originality: This paper comprises not only a set of notions related to and the concept of e-business models, but also offers new arguments in the discussion on the framework for entrepreneurship in virtual economy. The conducted research is an original attempt to explain the essence of the studied phenomenon and to illustrate its progress in a changing business environment.

Open access
Knowledge Safety – Insights from the SME Sector

Abstract

Purpose: This paper aims to explore the topic of knowledge safety, defined as the state of knowledge being safe from loss, leakage, attrition, oblivion, waste or theft. The paper first presents a theoretical background and review of previous studies on knowledge loss and ways of overcoming it, and then illustrates the topic of knowledge safety with ten case studies from the small and medium-sized enterprises (SMEs) sector. Methodology: The paper is based on an analysis of Knowledge Management (KM) literature devoted to knowledge loss and its potential types in companies, and on the results of case study research. Knowledge safety was first defined and contrasted with other terms, and then examined in 10 selected SMEs. The research resulted in a clarification of what SMEs understand by the term of “knowledge safety” and what kind of measures they take to ensure it. Findings: As the analysis shows, the examined SMEs attribute diversified significance to the issue of knowledge safety. For some of them, such problem does not exist at all and they state that they can ensure knowledge safety in all aspects of their operations. Some companies perceive it mainly through the safety of the knowledge stored in electronic databases, while others link it with the human factor only. Research limitations: Research results are limited to ten companies operating in Poland. As such, they cannot illustrate the whole picture of the existing small or medium-sized companies. Research implications: The findings of both literature review and case study analysis indicate that there is a need to further examine the issue of knowledge safety by analysing the potential factors which may endanger knowledge safety and the methods to eliminate such risks. Practical implications: The paper examines important aspects of knowledge safety and provides guidelines on how it can be ensured by managers or owners of SMEs. Originality/value: The term of knowledge safety has been absent from the related literature so far. The paper defines it and explores both the theoretical and the practical aspects thereof. The paper also suggests further research possibilities in this area.

Open access
The Quality of Explanations for Deviation from Principles of Corporate Governance. An Introduction

Abstract

Purpose: The purpose of this paper is to summarize studies aiming to define matters related to the quality of explanations found in corporate governance statements published by listed companies. Another important aspect of the conducted analysis is the identification of various dimensions of explanation quality. Methodology: The character of the conducted research is that of an overview of literature devoted to the subject. Apart from scientific articles, it covers European Union regulations, regulations characteristic of countries selected for the analysis (member states of the European Union), and applied solutions aimed at guaranteeing the desired quality of explanations for deviation included in corporate governance statements that are in the centre of attention. Findings: The conducted analysis organizes the current knowledge concerning actions aimed at improving the quality of explanations for deviation from principles of corporate governance. Without a doubt, the primary pillar consists of the level of information and its quality, as found in explanations for shareholders. It is this quality that determines if the shareholder understands the processes occurring in the realm of corporate governance in the company. Research limitations: The conducted analysis should be treated as an introduction to related research issues. It should be stressed that research into explanations provided by companies is still in the process of development, and the number of publications devoted to this topic is still modest. Practical implications: The study fits in the research into the phenomena of the “comply or explain” mechanism as applied in practice, which according of many researchers, continues to be poorly investigated. In terms of the directions for further research, there are promising topics including e.g. identification of factors that may translate into the quality of such statements (e.g. ownership structure, identity of shareholders), the role that should be played by institutions involved in developing CG codes (i.e. their successive versions), and the involvement of the board of directors/ supervisory board in the evaluation process. Originality: The present paper identifies the key factors perceived as determining the quality of corporate governance statements. In addition to that, it outlines new avenues for further investigation.

Open access