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Open access

Reinis Lazda and Armands Kalnins

Abstract

The contents in the work of personnel specialist differ in organizations from one field to another. It continues to evolve with an emergence of new technologies and business methods, as well as with structural changes in the economy, both at a global and national level. However, the existing professional regulations of particular professions in Latvia has not been changed for almost 10 years, while the economy as well as the workforce appears to have changed. The aim of the paper is to illustrate what currently forms the contents of work of personnel specialist in Latvia. To achieve this, a study on trends in the work of personnel specialists has been conducted with an informative support of Latvian Association for People Management. The topics of daily activities and tasks, as well as individual features of personnel in various fields, including building, banking, manufacturing, IT, retail company, and public service companies have been included in the study. Overall, 18 personnel specialists from public and private sectors were interviewed. The results show that the classical model of human resource management is still popular, although some of the industries have adapted many or most of the cutting-edge approaches in the field, including flexible jobs and continuous employee support. Therefore, it is advised to update the existing documentation, including the professional regulation and university curricula, to meet the needs of the contemporary companies employing personnel specialists.

Open access

Margareta Nadanyiova, Jana Kliestikova and Juraj Kolencik

Abstract

A brand is one way to distinguish products from each other, while simplifying consumers’ decisions in choosing an appropriate product. Brand building is not just about design but also strategy, which is even more important in the process. The result of brand building is the potential to represent a certain value for the company. However, sustaining and improving a brand’s position in the market is not a simple process in the current competitive environment. Therefore, there is scope for application of new marketing strategies such as sensory marketing. Sensory marketing represents a way for companies to influence consumers’ senses (sight, hearing, smell, touch, taste) and evoke the emotions affecting their buying behaviour and perceptions of the product or brand. The aim of the article is to provide a literature review on the issue from several foreign and domestic authors. It discusses the essence of a brand, brand value, sensory marketing and also analyses its use as a support tool for building brand value in practice through secondary research data. Based on this, in conclusion, the authors highlight the benefits of using sensory marketing for building brand value, including ensuring loyalty of standing customers as well as gaining new ones, building a successful brand and positive perception of the brand and product by users.

Open access

Ivana Podhorska, Maria Kovacova and Katarina Valaskova

Abstract

The issue of enterprise in bankrupt or financial health as a whole is still very actual topic not only in Slovakia but also in abroad. Works dealing with the enterprise in bankruptcy have already appeared in the 1930s of the 20th century. Bankrupt of enterprise affect all subject in relationship with this enterprise. Financial experts were looking for the ways for enterprise bankrupt prediction. This article is based on the searching for key factors that could indicate the enterprise in bankrupt in Slovak conditions. This article tries to work with financial variables from the area of financial health assessment of enterprise and works with the sample of Slovak enterprises. This sample includes 8,522 financial statements of enterprises in 2016. According to several relevant decisions rules, for example, the value of equity or equity debt ratio, enterprises are divided into two categories – bankrupt enterprises and creditworthy enterprises. Subsequently, this article tries to find statistically significant financial variables that could indicate involving enterprises in these two categories and works with several statistical methods for searching significant relationship between variables and the tightness of relations between them. As a main statistical method, Pearson´s correlation coefficient is used, which is supported by correlation matrices. In addition, it is necessary to test an existence of outliers in the sample of enterprises. Existence of outliers is tested by the Grubbs test of outliers.

Open access

Eva Kicova, Pavol Kral and Katarína Janoskova

Abstract

Customers are key in the brand-building process. Many times, this term is applied very broadly, especially in segmentation and planning. Knowing the customer buying behaviour and customer decision-making process is important for brands, especially today, when customers are informed much better and get information over the Internet faster. In this paper, we present theory that deals with the purchasing behaviour of customers and emphasize the analysis of the sales cycle of the individual phases in the current conditions, when segmentation based on socio-demographic data is not enough. It is much better to define the psychological factors, which influence the customer and motivate him to buy in combination with the buyer’s decision-making speed. Thus, the article discusses the basic four types of customers according to the major research work carried out by Eisenberg brothers. Based on this analysis, we can determine the percentage of individual customers. The article offers a survey that was conducted to find the most important factors in the decision-making process when buying a car. In addition to the criteria, we also asked our respondents about the importance of these factors. We have used the multiple criteria decision analysis as it is one of the methods of complex evaluation and it minimizes the degree of subjectivity in choosing a suitable variant. Based on our survey, we have used analysis to estimate trends that brands operate in automotive sector could use to communicate in order to address the type of customer that belongs to their target audience. The primary aim of the paper is to prove that there is a growing trend of humanistic customers through study about their preferences and criteria during the decision-making process that leads them to buy a new car. Moreover, we determinate communication strategies for all four types of customers based on theory provided by Eisenbergs.

Open access

Anna Siekelova, Tomas Kliestik and Peter Adamko

Abstract

Bankruptcy models are used to assess credit risk and predict financial situation to indicate the probable bankruptcy of the company. Contribution deals with the application of chosen bankruptcy models in analysing and predicting the financial health of selected companies. Most of the models have been developed abroad. In case of Slovak Republic, its application and correctness of the results can be problematic; therefore, we have focused primarily on those that have emerged in countries with a similar economy. We have calculated the selected prediction models in a sample of 500 Slovak enterprises. Predictive ability lower than 64% is considered as unfavourable. As part of the contribution, based on expert literature and relevant legislation, we have defined the criteria that allow to divide businesses into two groups: prosperous and non-prosperous. In the end, we compared the results of the selected models with the inclusion of enterprises in a prosperous and non- prosperous group based on the criteria set by us. We also dealt with examining of error types I (when an enterprise in bad financial condition is included in a non-bankruptcy group) and II (when an enterprise in good financial condition is included in a bankruptcy group). The aim is to analyse the predictive ability of the selected bankruptcy models.

Open access

Lucia Svabova, Marek Durica and Ivana Podhorska

Abstract

From the time of Altman and the first bankruptcy prediction models, the prediction of default of companies is in the centre of interest of many economists and scientists all over the world. For companies, early detection of the possible threat of imminent financial difficulties or even bankruptcy is a very important part of financial analysis. Over the last few years, many predictive models have been created in the world. However, it has been shown that these models are not very well transferable to the conditions of the economy of another country and their prediction or rating power in another country is lower. Therefore, it is best to create a specific predictive model in the country that takes into account the situation of companies on the basis of real data on their financial situation. This paper is focused on creating a model of failure prediction of small companies in Slovakia using a well-known and widely used method of multivariate discriminant analysis. Discriminant analysis is one of the oldest multivariate statistical methods and sometimes it is difficult to fulfil certain assumptions for data. However, its results are easily interpretable and can be used to classify a company to the group of companies with risk of financial difficulties or, on the contrary, between well-prosperous companies. Prediction model is created based on real data on Slovak enterprises and has a strong classification ability in the specific conditions of the Slovak Republic.

Open access

Dominika Moravcikova, Anna Krizanova and Lucia Svabova

Abstract

Nowadays, when marketing and branding change, companies are trying to find new ways to evaluate the effectiveness of their marketing activities as they impact on current and future business results. The main objective of the contribution is to evaluate the effectiveness of decision making unit (DMU) production units in the form of selected Slovak brands through the non-parametric data envelopment analysis (DEA) method. The sample size consists of 10 Slovak brands (Slovenská sporiteľňa, VÚB banka, Tatra banka, ESET, Slovnaft, Matador, Rajec, Sygic, Sedita and Zlatý bažant). Through DEA, we have gained a portfolio of effective and portfolio of ineffective brands operating in Slovakia. Depending on the choice of the DEA model, effective brands included Slovenská sporiteľňa, Sygic, Zlatý Bažant, Rajec and Sedita. Other brands were classified as ineffective. The result for ineffective brands is the creation of archetypal characters that we propose in Results section. The part of Results section is the focus of the businesses of the brands in question on the use of social media, to a larger extent, create a social media voice so that the personality of the brand is reflected in contributions in social media communicating on Facebook, Instagram or Twitter. In contribution, deduction, induction, analysis and marketing research methods were used.

Open access

Vita Stige-Skuskovnika, Inga Milevica, Olga Civzele and Armiyash Nurmagambetova

Abstract

The performed scientific studies show that proper and skilful use of modern technologies can contribute to significant development of companies. Growth of technologies occurs rapidly, and the electronic environment continuously develops and improves along with it. The electronic environment now already offers companies practically all necessary marketing and communication tools for ensuring company development by creating competitive advantages; nevertheless, not all companies can employ the opportunities rendered by the e- environment, in order to increase company competitiveness and productivity. (Ščeulovs, Gaile-Sarkane 2014). The aim of the paper is to study and compare the enterprises communication in e-environment in two countries – Latvia and Kazakhstan. Study material – 130 enterprises of Latvia, 100 enterprises of Kazakhstan; method – survey. The study was conducted within the Erasmus+ project ‘Mobility between programme and partner countries (KA107)’. Using previous researches and scientific studies, as well as survey of enterprises representatives in Latvia and Kazakhstan, in this paper, the authors a) give an overview of the main trends of enterprise communication in e-environment and b) compare the experience of the two countries.

Open access

Klaudia Muca

Abstract

The term engagement was used in critical cultural studies as a term that name an attitude of scholars, and a feature of cultural and scientific texts, that are based on the experience of an individual or a group of people. In the recent two decades, many of Polish academic narrations on the field of cultural production focused on the issue of engagement. In the article, a phenomenon of engagement in the context of disability studies is considered. The main objective of the article is the analysis of disability studies as a new model of experience- oriented discipline. What is particularly interesting is a possibility to relabel experiences of the disabled as a significant report on the status of modern narrations, which should include different minority bodies. The main aim of disability studies is to present a project of engaged attitudes towards social sustainability that is not based on exclusions of any social groups of people. Studies on disability are also introduced as an experience-oriented discipline in the field of engaged humanities. This article aims at presenting critical narrations on the issue of engagement in other to connect disability studies to the engaged humanities. Promoting engagement in many areas of culture and social life seems to be a way of introducing more open politics towards difference, and social sphere of life that is equally accessible for everyone.

Open access

Simona Bieliune

Abstract

The concern for delinquent children’s social and emotional development in closed institutions is a significant topic in educational research. This shows the need to improve the existing re-socialisation practice. Despite the fact that school effectiveness and school improvement researches theoretically have different general purposes and value bases, educational effectiveness and improvement paradigm involves both trends, which are combined by the same aspects: scientific approach and empirical data based on educational settings; knowledge of how to improve the school practice; and use of this knowledge for social purposes. In this context, the concept of the school culture is one of the main variables that allow us to answer how to address the needs of all children and improve their academic or social outcomes. The aim of this article is to illustrate the cultural characteristics of children’s socialisation centres as specific schools and to identify the guidelines for improving their performance. The mission of children’s socialisation centres is to re-socialise delinquent behaviour of children and to help them to integrate into the society. Quantitative data for measuring the school culture is obtained from the survey that was conducted using the School Culture Inventory (Maslowski, 2001). This instrument is based on the Competing Values Framework (Cameron, Quinn, 2011) consisting of four dimensions, which are labelled by human relations, open systems, rational goal and internal process orientation. The theoretical value of the survey is the analysis of school culture in terms of successful re-socialisation. The cultural profiles of these schools showed the priorities that require practical changes.