Due to ageing of the population in developed counties and increase of the demand for the healthcare worldwide, the industry of medical devices (MD) becomes one of the fast-growing businesses. The present paper analyses the current state of the MD sector in Europe and in Latvia on the basis of the data obtained from open sources. Review of the current situation in the MD sector has demonstrated that the MD field still is and will remain an attractive sector of economics. The growth of the EU MD market by 3.5 % per year is sustainable. The market is highly innovative and leaves enough room for small and mediumsize enterprises that provide up to 95 % of all MD sector turnover. This indicates that MD sector manufactures products with high added value that make the sector attractive for countries with limited resources, such as Latvia. Although key players on the market do not changes much, example from Ireland demonstrates that investment in human capital is an important pre-requisite for country’s success in the MD sector. Unfortunately, the development of the MD industry in Latvia is very slow, the growth is around 0.7 % per year that may be explained just by inflation. There is also a lack of information on the Latvian MD industry both for professionals and society.
The concept of family business in Nigeria has become significantly attractive; its root is in sole proprietorship form of business. Family businesses have the unique strength to separate culture, language and personality. The research analyses the effect of interpersonal relationship on internationalisation and determines the extent to which succession planning affects internationalisation. Research presents that a positive relationship exists between internationalisation and interpersonal relationship. It has also been discovered that no positive relationship exists between succession planning and internationalisation. This study therefore concludes that family businesses which proceed to internationalisation enjoy growth in productivity, adequate brand awareness in the world, diversification of political and financial risks, as well as experience an increase in the share of the market, capital base, asset and open up opportunities in regional markets for workers. The study also recommends that employees in family businesses should communicate with each other effectively for a healthy relationship and managers should not make secret preparations for successors.
The present paper aims at determining the impact of Food System Management ISO 22000 on Coca-Cola customer’s loyalty in Algeria through satisfaction as an intermediate variable. Based on a descriptive, analytical approach and a case study method, an electronic questionnaire was used as the main tool for data collection. It was distributed to a random sample of 385 customers at Coca Cola Company in Algeria. In addition, SPSS and AMOS programs were used to analyse the data and test the research hypotheses. The paper reached significant conclusions that the level evaluation of ISO 22000, in customers’ point of view, varied between a weak rate of green and safe products, while innovative and quality products were highly rated. The result also demonstrated a weak indirect effect between food safety management system and customer loyalty through satisfaction expressed by a correlation coefficient, which was estimated at 0.23. The direct effect was greater with a correlation coefficient of 0.56. In fact, the output of food safety management system leads directly to the saturation of customer satisfaction and also to loyalty.
Faced to a socio-economic environment that is marked by globalization of trade and competitiveness, Algeria is committed, like its neighbours, to do upgrade programmes which aim to support the dynamic of restructuring process, the industrial integration and growth. The strategic goal is to upgrade to the requirements of the free trade to take advantage of the positive effects of liberalization and strengthen the production capacity, sales and export. This general target will lead the Algerian companies to achieve two ambitions: to become competitive in price / quality, innovation, and to be able to survive and control the evolution of the technology and the markets. Achieving these ambitions requests from the Algerian companies a major effort, i.e., to adapt and change their organisational methods and practices, especially in technology, innovation, cost control and quality supervision, training, products and markets, sales policies, management, openness to technical and commercial partners. The present paper describes the impact of upgrade programmes on the competitiveness of Algerian companies. For this reason, a model has been developed that analyses the competitiveness of a company across several dimensions (commercial, financial, technical, human, as well as social & managerial). To process the data collected in the survey, an exploratory factor analysis, confirmatory analysis and structural equation methods have been used. The results of the research have confirmed the main hypothesis that upgrading has a positive impact on the overall competitiveness of companies that have initiated and finalised an upgrade programme.
This paper examines the influencing factors of becoming informal investors in two groups of Central European countries: the innovation-driven (Estonia, Latvia, Slovenia and Slovakia) and efficiency-driven economies (Croatia, Hungary, Lithuania, Poland and Romania), based on the GEM (Global Entrepreneurship Monitor) database from 2014. According to the results, in the studied innovation-driven economies of Central Europe the probability of becoming an informal investor is higher for those, who know other entrepreneurs, who are confident in their own entrepreneurial skills, who are in the higher percentile of the household income, who are older and male. The results also suggest that in the studied efficiency-driven economies of Central Europe the probability of becoming an informal investor is higher for those who are confident in the own entrepreneurial skills, who know other entrepreneurs, who are in the higher percentile of the household income, who are older and male. The probability is decreased, if somebody is employed full-time. The study emphasises similarities instead of differences regarding the analysed aspect between the two groups of countries.
This paper incorporates government immigration policy variables in a job search and match framework to examine its implication on labour market outcomes. The main assumption is that illegal workers can be penalized by receiving lower equilibrium wages or face possible deportation; and government can regulate illegal workers by introducing a “caught variable”, η, in the model. By a comparative statics analysis, the study has revealed that changes in the wages of illegal workers have both direct and indirect effect on wages of legal workers. Also, an important finding is that η has positive impact on most of the labour market parameters considered in the study.
Economic theory suggests that monetary policy can be used to stabilize an economy. However, the ability of monetary policy targets—interest rates and money supply—to stabilize an economy depends on their ability to achieve price stability. Using data from 1981 to 2018 and applying the vector error correction model, this paper seeks to determine how the changes in the inflation rate affect the ability of monetary policy tools to stabilize the Nigerian economy and stimulate investment. Empirical results suggest that the impact of the interest rates on investment depends on the level of the inflation rate. The size of the effect of interest rates on investment gets weaker as the inflation rate increases suggesting that monetary policy tools, such as the monetary policy rate (MPR), that directly change the interest rates are robust stabilization tools during periods of declining inflation rates but not relevant during periods of rising inflation rates. This is attributable to low bank lending rates. Additionally, the impact of the money supply target on investment does not depend on the level of the inflation rate. This suggests that monetary policy tools, such as open market operations, that directly change the money supply can be relevant stabilization tools during economic booms and recessions. As a result, the Central Bank of Nigeria should work to deepen the scale, capacity, and efficiency of its open market operations by ensuring that most of the people can participate with minimal transaction cost and by making different financial instruments available.
The main aim of this study is to analyse the trend of public spending dedicated to education in case of Kosovo over the years and to measure the impact of public spending in education on economic growth of Kosovo. In order to achieve the aim, the Pearson Correlation has been used and a multifactorial regression model (OLS) has been modified and adapted, where we have determined the Gross Domestic Product (GDP) as a dependent variable and as an independent variable in the model: (i) Public expenditure on secondary education and (ii) Public expenditure on higher education (university). The data used are secondary data from the Kosovo’s State Budget, Ministry of Finance and Transfers, and Kosovo Agency of Statistics. We have come to a conclusion that public spending dedicated to higher education (university) has a positive impact on Kosovo’s economic growth meanwhile public spending on secondary education does not show any effect. The paper suggests further recommendations on public spending policies dedicated to education in order to influence Kosovo’s economic growth.
The paper deals with the management of product information in a cosmetics retail and information interaction of a retailer with distributors and manufacturers. We developed a list of requirements for the types of information for a product catalogue. Using a survey and questionnaire of employees of the retailer, we determined what information the departments needed. We made sure that one standard to the structure of information did not exist and proposed our own scheme. Based on the survey results, we created a list of requirements for the information management system and proposed a scheme of system components. We conducted a comparative analysis of the costs of the company (about 2000 employees) for the salary of employees involved in entering information before and after the implementation of our system. For evaluation of the effectiveness of the integration of the developed system, we defined the cost indicators: PP, NPV and IRR.
This paper forecasts the world population using the Autoregressive Integration Moving Average (ARIMA) for estimation and projection for short-range and long-term population sizes of the world, regions and sub-regions. The study provides evidence that growth and population explosion will continue in Sub-Saharan Africa, tending the need to aggressively promote pragmatic programmes that will balance population growth and sustainable economic growth in the region. The study argued that early projections took for granted the positive and negative implications of population growth on the social structure and offset the natural process, which might have implication(s) on survival rate. Given the obvious imbalance in population growth across continents and regions of the world, a more purposeful inter-regional and economic co-operation that supports and enhances population balancing and economic expansion among nations is highly recommended. In this regard, the United Nations should compel member states to vigorously and effectively implement domestic and international support programmes with this objective in view.