Making decisions is a process that involves taking into account n acceptable variants of undertaken actions in view of m adopted assessment criteria and selecting the optimal variant (optimal variants). Due to the number of alternatives being assessed and the number of considered criteria, more and more frequently mathematical methods are used in this process. Basing on the example involving the selection of a mechanized longwall complex, the article presents the application of selected multicriteria methods: in the case of quantitative features – Hellwig's development measure method, and in the case of qualitative features – Promethee II method. In the case of Hellwig's development measure method, equipment variants were interpreted as points w in the multidimensional space, and then the distances between them and the point Po (perfect solution) were determined. In the case of the Promethee II method (discrete multicriteria decision support method), the equipment variants were compared with each other in pairs, which made it possible to determine the so-called net flows Φ(i). The obtained synthetic values mi and Φ(i) allowed to build rankings of equipment variants (objects) and to indicate the optimal variant.
Production activities of companies significantly impact society and environment. It is high time to re-think many of industry’s practices and to change manufacturing processes in a way that allow the company to increase its competitiveness, while at the same time help to achieve sustainable growth. The sustainable production is a concept that is able to strengthen such transformation. The aim of this paper is to present empirical evidence of implementation of the sustainable production practices in the selected company from metal industry. The principles of the Lowell Center for Sustainable Production (LCSP) are used as a model to assess the main aspects of sustainable production in practices of the company. Empirical evidence shows that in each of the analysed issue some practices have been implemented, however there were identified some deficit areas. Therefore, at the end of the paper the improvements actions were proposed that could be implemented in the analysed company as part of the sustainable management programme.
Basic parameter characterizing the body's workload (in particular physical work) is the energy expenditure, which determines the amount of energy used to perform a specific job (in kcal or kJ). The purpose of this work was to determine the energy expenditure at the station of a water-cutting machine using the tabular-timing method according to G. Lehmann. As part of the author's own research, the position of the waterjet operator was described, taking into account the basic hazards present in the work environment and the requirements regarding occupational health and safety. The paper also presents the results of the energy expenditure assessment and their analysis, which allowed to propose corrective and preventive actions.
The implementation of a new product in serial production is a very important element in the company’s functioning. Manufacturers of cars and complex subassemblies have been working for years according to the established standards of designing and implementing new products for serial production. A great emphasis is placed here on the formal side. In addition, the supplier must prove that has sufficient resources to achieve these objectives. And this is what customers verify during system, product, process and potential audits. However, despite formal approval of parts from the supplier, as well as confirmation of design and production capabilities, defective parts or components are sometimes assembled in cars and distributed to the market. Why does this happen? The answer can often be found not in the forms, manuals or procedures, but in the way the project teams communicate and cooperate with each other and with other organizations. This is confirmed by the research results presented in this paper, which show that one of the key issues requiring improvement during production implementations is not the knowledge of specialists, problems with the machine park or plant equipment, but increasing the ability of specialists and managers to effectively communicate and cooperate. It shows how important is the problem of risk assessment related to the project team for the project within the quality planning. According to the authors, the new model of project plan should be enriched with the risk assessment related to communication in the project team, as a part of the feasibility assessment of the whole project.
The aim of this paper is to discuss new trends that have occurred in the policies of the EU and China towards foreign direct investment (FDI), to examine some implications of the EU-China Comprehensive Agreement on Investment (CAI) – which is currently being negotiated – for their bilateral relations, and to assess the role which China’s “One Belt One Road’ (OBOR) initiative might play in its relations with the new EU Member States. The EU established freedom of capital movement with third countries; however, the introduction of the common investment policy has encountered some obstacles. These are related to investor protection and ISDS issues. In turn, China is carrying out an independent state policy towards foreign investment with limited liberalization of FDI flows. The negotiated EU-China CAI is expected to create conditions conducive to bilateral foreign investment flows, and it might bring positive effects for their economies in the future. However, the progress made thus far in the negotiations is still limited. The relations between China and the new EU Member states (CEE countries) are characterized by common interests in the field of FDI flows. The new EU countries are interested in attracting Chinese FDI and seem not to show the fears that have arisen in the old EU countries.
Aleksandra Maksimovska Stojkova, Elena Nesovska Kjoseva and Irena Stojmenovska
The subject of this paper is four Balkan countries (Albania, Serbia, Macedonia, and Montenegro) that are determined to join the European Union. More particularly, it looks at their work towards accomplishing the political, legal and economic requirements for the EU. Thus, the legislation with the EU Fiscal Compact is the prime focus. Methodologically, the research is based on an assessment of fiscal and monetary legal documents, evaluating the stages of accomplishing the harmonization with the EU’s conditions. Further, cross-section analyses are made by in putting selected indicators; additionally, the authors compare the four countries’ achievements. The EU’s rigorous fiscal rules are being quietly bypassed, but more frequently by existing member states than the candidate states; this statement is founded on legal and economic arguments, with mathematical estimations. Consequently, the authors question the political courage and financial capacity of the examined countries to cope with the fiscal compact of the superior EU 28 members. The answers are supported with numerous analyses of EU Reports for each country, as well as tables and figures that compare the states’ results and economic achievements vs. EU fiscal consolidation rules. The EU 28 average is givenin addition as a comparison. The conclusion gives across analysis between the four countries and the EU 28 member states, with accompanying argumentation to the main statement about the legal and economic developments of the examined Balkan countries as well as a future prognosis.
Bank capital is a principal aspect of regulation and will determine how long a bank remains in business from a regulatory point of view. Prior research on the relationship between capital and profitability has largely focused on developed economies, especially the USA, and Europe and the results have been inconclusive. There is no evidence of such research done to date that focuses on an emerging economy such as South Africa. Using South Africa as a unit of analysis and using the Generalised Methods of Moments (GMM), and Panel Two Stage Least Squares (2SLS) or Pooled IV method as the estimation techniques, this study tested the hypothesis that there is a positive and statistically significant relationship between bank capital and profitability. The results provided evidence of a positive relationship between capital ratio (CAR), return on equity (ROE) and return on assets (ROA). From a bank specific strategic decision-making perspective, this would assist financial institutions and investors in tailoring investment decisions in response to policy decisions that relate to bank capital. From the public policy perspective, this would assist both governments and regulators in formulating better-informed policy decisions regarding the importance of bank capital.
A constant growth of interest in GSCM on the part of business practitioners creates a need to develop research within this field. One of the basic questions is why, despite numerous evidence of benefits resulting from the use of pro-environmental practices in supply chains, the level of GSCM implementations is low. Therefore, the aim of the paper is determining which barriers constitute the greatest obstacles on the way of GSCM implementation. The studies were conducted among Polish market entities. Therefore, they were prepared in the part of Europe in which there are not many studies regarding this topic. As a result of the conducted studies, it was determined that the greatest barriers for pro-environmental practices are included in the field which concerns knowledge and cost. What is more, the importance of particular barriers was specified in the paper.
The article presents the hazard identification process as a sequence of events that leads to accident and/or material loss at the workplace. The chain of events can be described as an orderly set of circumstances conducive to the emergence of a threat. The article presents an analysis of the application of elements of the events theory to the identification of hazards in an industrial plant on the example of a gas explosion. The circumstances supporting the emergence of a gas explosion hazard were identified by determining the direct and indirect causes of the event and the main conditions leading to the event (loss). Also indicated is the cause of gas explosion hazard, which is the initiating factor in the chain of events.
The circular economy (CE) concept is now gaining increasing attention and it is being widely explored as a promising path to sustainable development. CE implementation requires extensive activities needed for the transition from the linear to the circular model and suitable tools to support decision-makers in setting adequate goals and monitoring the effects of undertaken actions. Considering the need for research on effective CE performance evaluation, this article presents a comprehensive analysis and comparison of CE indicators available at the micro level. Based on a systematic literature review, 19 such CE indicators were identified. The indicators were assessed and compared using the Delphi methodology. The suitability of each metric for a comprehensive evaluation of CE performance was analyzed taking account of the criteria related to analytical opportunities and potential application of CE indicators, together with the criteria related to organizational and operational issues of practical application of CE indicators. The usefulness of CE indicators for practical implementation in companies was determined from a managerial perspective, with particular emphasis on supporting the decision-making process. The comparison of CE indicators presented in this article is intended to facilitate the choice of a specific metric depending on the company’s needs and on the possibilities of its application.