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Open access

Jānis Zvirgzdiņš, Kaspars Plotka and Sanda Geipele

Abstract

Economic models are built primarily following the classical economic theories, but a challenge to build good models with classical theories is needed to define the exact value of the Earth, which is hardly definable. Quite often national gross product indicator calculation reuses the same performance indicators, where the resource and income distribution system is not linked to production factors. The resource and income distribution system is primarily associated with low productivity (execution of a sales plan, execution of a profit plan, profitability level, increase in market share, personnel turnover rate, hours worked per employee). Changes in the productive and economic structures of the markets result in new innovative growth patterns which, based on customer motivation, are linked to the concentration of capital in regional and national markets, the growth of transnational markets and the development of technology. At the same time, extensive economic development through natural resources leads to deforestation, landscape changes, desertification, swamping and soil fertility renewal. So far, it often has been assumed that economic growth depends on the use of natural resources, and natural resources are unlimited. The results are “resource crisis”: resources are running out and resource prices are rising, thus invalidating a particular model. On the other hand, the eco-economy approach is a sustainable future for the economic modelling. The principle of eco-economy is based on a production system, which relies on re-cyclicality (the basis is the production of zero waste production). For this to happen, a transition to a completely new mind-set is needed. The research results were previously approbated during the graduate meeting of the Baltic DBU scholarship holders from 4 to 6 May 2018 in Latvia.

Open access

Eric Tsui and Nikolina Dragicevic

Abstract

In much of the current discussions on business environments, a recurring theme both for academics and practitioners is that it is marked by inherent uncertainty (unknown unknowns). Hence, knowledge workers must have skills and understanding of the possible ways to navigate through and adapt to constant change. However, the tendency of prevailing approaches to curriculum development to focus on (static) learning outcomes, we argue, is not appropriate to train young people to adapt to the unpredictable working environment. Instead, more dynamic approaches to curriculum are required, which would instead focus on learning as a continuous relearning and emergent process of adaptation and stimulate students' inquiry and intellectual and creative skills. This paper approaches the issue by discussing the opportunities of using scenario thinking and development together with a personal learning environment and network (PLE&N) for co-creating a curriculum with students, teachers, and practitioners in higher education. In short, the methodology underpinning scenario development recognizes that uncertainty can be best dealt with and understood from the perspective of a range of possibilities and multiple futures through a facilitated, coherently structured process. PLE&N, on the other hand, serves as a learning space which stimulates self-regulated and network-based learning. The paper contends that curriculum informed by such a design methodology would lead to more frequent and appropriate updates as well as equip students with skills to work in a volatile, uncertain, complex, and ambiguous (VUCA) environment.

Open access

Stere Stamule

Abstract

This paper investigates Romanian consumer ethnocentrism and the Romanian consumers’ attitudes towards local products and towards campaigns promoting local products. The research was conducted through a questionnaire addressed to a sample containing two groups of respondents. The sample was organized also into two groups: Millennials (consumers aged between 15 and 34 years old) and Non-Millennials (35-over 65 years old). It was tested the hypothesis that Millennials are less ethnocentric compared to the Millennials. Another hypothesis of the research consists of the fact that the Millennials consumers’ attitudes towards local products and towards local campaigns promoting local products show lower scores in comparison with the consumers belonging to the other group. The obtained results of this research highlight the following: there are not significant differences between the two groups regarding the level of ethnocentrism and their attitudes towards consumption of local products and campaigns promoting local products, however Millennials show more interest to the products that offer the best value for money whether they are done or not in Romania in comparison with Non-Millennials. The Romanian consumers would also like that the state and the industry involve more in supporting the local products.

Open access

Augusty Tae Ferdinand and Wahyuningsih Wahyuningsih

Abstract

The purpose of this study is to develop a conceptual model for explaining the process of how salespeople’s innovativeness leverages sales performance by introducing the organizational learning-based factors such as sales team tacit knowledge exchange, value-based selling capability, and a positive selling ambiance initiative in the selling process to enhance sales performance. The novelty of this study is its construction of a conceptual model that adopts the organizational learning framework both in cultivating the organizational memory of salespeople working in a sales organization and in processing organizational memory for leveraging capabilities that lead to better sales performance. The acceptance of the proposed hypotheses demonstrated the importance of organizational learning-based factors in supporting the success of salespeople in the consumer product market.

Open access

Lekë Pula and Alban Elshani

Abstract

The aim of the study is to examine the impact of public expenditure on economic growth of Kosovo. Time series data span for the period of time 2002-2015. The structure of the econometric model is built on Keynesian theories and endogenous growth model. The model estimation is performed only after implementing the Augmented Dickey-Fuller (ADF) Unit Root test to estimate if time series are stationary. Several tests have been implemented to determine model validity. The model has met all the assumptions of statistical tests: error term residuals have a normal distribution (Jarque-Bera test), there is no auto-correlation between variables (Breusch-Godfrey Serial test), and error variances are constant, known as the principle of homoscedasticity (Breusch-Pagan-Godfrey test). Gross domestic product is used as a dependent variable in the model, while public expenditure (G), foreign direct investment (FDI), export (EXP) and total budget revenue (TrTax) are used as the endogenous variables. The study results have revealed that there is a positive and statistically significant effect of public expenditures and exports on economic growth. Total budget revenue has a positive impact on economic growth but this has not been proved to be statistically significant. The authors of the research have also found out that FDI is negative and statistically insignificant.

Open access
Open access

Anna Adamik, Michał Nowicki and Katarzyna Szymańska

Abstract

Openness is an expression of an enterprise’s ability to adapt to changing environment conditions and its ability to cooperate with different types of partners. A given company’s openness shows its readiness for the creation of dynamics of many business processes, including the creation of its competitive advantage. Due to the nature of today’s enterprises’ environment, mainly its “high velocity” & “complexity” attributes, openness of companies has to be multifaceted. Organization-customer relationships, called co-creation, are one of such facets. The capacity for effective co-creation gives a company the ability to gain a competitive advantage along with the chance for its permanent dynamization and sustainability. The main purpose of the paper is to present the framework and algorithm of co-creation as a method of reducing the complexity of the environment and dynamizing companies’ competitive advantages. A review of literature in the areas of open organization, open culture, partnership, co-creation, and competitive advantage provides a basis for understanding the process of co-creation. Collected data show that the activity of enterprises in this process is a key factor in the reduction of complexity of a company’s environment and an important stimulator of the dynamization of a company’s competitive advantage. The authors’ own CATI questionnaire survey research conducted in Poland showed the level of preparation Polish SMEs have to co-create.

Open access

Divya Shukla

Abstract

The college and university systems are more complex and required persistent approach towards adoption and transformation. Highly vulnerable environment portrays the need to visualize the regular and strategic issues with the larger perspectives as a whole and develop a model which is more focused towards sustainability and reformation. The current study has attempted to conceptualize systems thinking in action model which consists of four stages of action cycle; diagnosis and analysis, modeling, intervention and review and lessons learned. This is attempting to evaluate the systems thinking among the educational leaders in higher education in Thailand through the fuzzy multi-criteria decision-making method. The study has found that leaders are adopting systems thinking in the moderate level, however, the first three stages are found less in practice and more in perceived importance. The study found that there is higher need of calling for collaborative, cooperative and participation of stakeholders’ involvement. The study has further given managerial implications.

Open access

Constantin Bratianu

Abstract

The intellectual capital research and practice entered in the last years into a visible decline due to some barriers in understanding its intangible nature and designing Newtonian metrics for its measurement and reporting. Inertial thinking is very powerful in promoting new approaches for the need of a new perspective in working with intellectual capital. Unfortunately, even some top journals in the domain of intellectual capital remained trapped into this Newtonian logic and standard statistical analysis, as a result of the mind-set of their editorial staff and reviewers. The purpose of this paper is to present a critical analysis of the intellectual capital research and practice today and to reveal some of the most important barriers in understanding the complexity and nature of the intellectual capital. These barriers manifest like myths in approaching the research into intellectual capital, myths that create a false reality and false research questions, which enter into collision with the real life of companies and their business. The paper identifies seven myths which created a Newtonian version of the non-Newtonian reality, and a golden rule for further research into the intellectual capital of organizations. The conclusion of the present critical analysis is that we need a new approach to understand the complexity of the intellectual capital and new metrics to measure it.

Open access

Viera Kubičková, Monika Krošláková, Anna Michálková and Dana Benešová

Abstract

Young dynamic service enterprises – gazelles – represent the modern economy phenomenon, which stimulates the growth by its operation, in particular of local economy. This article identifies the position of gazelles in services and defines their characteristic features with regard to knowledge intensity of their production. Research results document the dominant representation of gazelles in services within the framework of their sectoral distribution and their growing economic effects in the Slovak Republic. Knowledge intensity of production is determinant of gazelle innovativeness in services, and the result is supported by knowledge of higher intensity perception of innovation effects in a knowledge-intensive production of services.