Background: This paper introduces the use of the 5Ws & H technique, which is the creative problem solving technique based on who, what, when, where, why and how questions, for the establishing of the criteria weights in multi-criteria decision-making (MCDM). Objectives: The main goal of this paper is to adapt and complete the steps of the 5Ws & H technique, usually used in the problem definition phase, to establish the importance of criteria by the methods based on an interval scale. It also aims to verify the applicability of the proposed approach in the selection of the most appropriate blade. Methods/Approach: In terms of prescriptive approach, the creative 5Ws & H technique was used in the weighting step of the frame procedure for MCDM. During synthesis, the additive model was used, whereas interactions among criteria were considered by using the discrete Choquet integral. Results: The first result is a theoretical statement of the weighting scheme for a new decision mechanism. The second result is the application of this scheme in a real-world case-study. Considering interactions among criteria strengthened the decision-making basis in the selection of the most appropriate blade. Conclusion: The creative 5Ws & H technique proved useful in criteria weighting.
In an information society, the Information Technology (IT) infrastructure of enterprises is important for their performance. Since in the last few decades the Multiple Criteria Decision Making (MCDM) methods have already turned out to be very applicable in solving problems, this article explores the particularities of the frame procedure for MCDM by using the group of methods based on assigning weights in the selection of IT products and services in enterprises. Special attention is given to the methods for establishing the judgements on criteria‘s importance, based on the interval scale. The procedure is completed for considering interactions - synergies and redundancies - among criteria, which can strengthen the decision making basis in the selection of the most appropriate IT product or service. The applicability of the above mentioned frame procedure is illustrated via a reallife case - the selection of the most appropriate storage array
Future economic growth and competitiveness will increasingly depend on how effectively employers can utilise their ageing workforces. To manage the inevitable changes in demographics, employers need to start preparing for an ageing workforce and developing strategies to manage and retain older employees. The main objective of this paper is to determine the impact of leadership and employee relations on work satisfaction of older employees, as well as to determine the impact of work satisfaction on the work engagement of older employees in financial service companies in Slovenia. To test the hypotheses, the authors used structural equation modelling. The results show that the effects of leadership and employee relations on work satisfaction in the case of older employees in financial service companies in Slovenia are positive, and the effect of work satisfaction on the work engagement of older employees is positive, too.
Background and Purpose: In Slovenia, few management buyout (MBO) studies have been carried out. The focus was mostly on the motives for acquisition of companies and the success rate of the acquisitions. This paper aims to analyse the indicators which suggest an impending bankruptcy or financial restructuring of companies and explore how these indicators are different for successful and unsuccessful MBOs.
Methodology: In the survey, we included 23 selected MBOs in Slovenia between 2005 and 2008, using the following financial and non-financial indicators: profitability, performance, solvency and liquidity, using the analytic hierarchy process method. The key aim of the survey was to use financial and non-financial indicators to study if target companies where bankruptcy or financial restructuring has not yet been initiated prevalently have higher aggregate values compared to those in which bankruptcy or financial restructuring procedures have already begun. Thus, we used the selected indicators to demonstrate one of the possible methods to predict the success of a particular MBO.
Results: We found that in most examples of unsuccessful MBOs, target companies have poorer results in terms of performance, solvency and liquidity, when compared to successful MBOs. Based on the selected areas, we divided the results into four quarters. We found that most target companies where MBOs had been unsuccessful are ranked in a lower quarter than most of the target companies where the MBOs had been successful.
Conclusion: The papers main contribution is the finding that the selected financial and non-financial indicators differ in cases of successful and unsuccessful MBOs. This knowledge helps us to find ways of avoiding these situations in the future.
Background: Knowledge plays a crucial role in supporting the European Union model based on economic growth, social responsibility, and sustainable development. To improve companies’ performance, one must reflect on new forms of knowledge and develop new indicators to measure them.
Objectives: The goal of the paper is to investigate the impact of the selected factors of knowledge on companies’ performance in Slovenia.
Methods/Approach: A questionnaire was created and sent to small and medium-sized enterprises in Slovenia. The principle axis factoring method was used to identify the factors of knowledge and of companies’ performance, and a regression analysis was conducted to determine the influence of the selected knowledge factors on companies’ performance.
Results: The establishment of scientists’ collaboration with companies has a positive impact on companies’ performance, but the obstacles to the establishment of scientists’ collaboration with companies do not have any impact.
Conclusions: The results could be useful for governments and companies in the adoption of measures aimed at strengthening scientists’ collaboration with companies. Further research can be oriented toward the common synergy index (e.g., the knowledge triangle).
Background: The aging of the European population is a demographic trend reflected in the ever-growing number of older employees. This paper introduces the importance of motivation and satisfaction in the workplace among age diverse employees in Slovenian companies.
Objectives: The goal is to investigate the differences between the motivation and satisfaction of employees from different age groups in the workplace.
Methods/Approach: The paper is based on research including a survey of two age groups of employees in Slovenia. We employed the Mann-Whitney U test to verify differences in the motivation and satisfaction in the workplace between the two groups.
Results: Older employees are more motivated by flexibility in the workplace; autonomy at work; good interpersonal relationships in the workplace; the possibility of working at their own pace; respect among employees; equal treatment of employees regardless of their age. They are more satisfied with interpersonal relationships in the company; their work; working hours and the distribution of work obligations; and facilitation of the self-regulation of the speed of work performed.
Conclusions: Motivation and satisfaction change as individuals age. Using this information, managers and employers can apply appropriate measures to contribute to employees’ well-being and better workplace performance, better working relationships with colleagues, higher productivity, and greater creativity.
Background and Purpose: People spend a significant part of their lifespan working, but the role of age in job design and implementation of work have largely been ignored. The consequences can be evident in stress and burnout in different symptoms. Thus, age-diverse employees are faced with different symptoms of burnout and stress when carrying out their work. The main aim of this paper is to present burnout of older employees compared to younger employees in Slovenian companies.
Design/Methodology/Approach: The paper is based on research including a survey between two age groups of employees, namely the younger employees that were classified in the group of under 50 years of age and the older employees that were classified in the group of above 50 years of age. Since the Kolmogorov-Smirnov and Shapiro- Wilk test showed that the data was not normally distributed, the noan-parametric Mann-Whitney U test was used to verify differences in the physical symptoms of burnout, emotional symptoms of burnout, and behavioral symptoms of burnout in the workplace between two groups.
Results: The results show that there are significant differences in the great majority of the variables describing the physical symptoms of burnout, emotional symptoms of burnout, and behavioral symptoms of burnout in the workplace between younger and older employees.
Conclusion: Well-being in the workplace of age-diverse employees is a key for long-term effectiveness of organizations. Managers and employers should apply appropriate measures to reduce burnout as well as to contribute to employees well-being and better workplace performance.
Stress greatly affects not only people but also organizations. Therefore it is very important to prevent and manage stress and at the same time maintain well-being of employees. This paper presents two main groups of approaches: the organizational and the individual ones, with which individuals (managers/employees) can manage stress.
The paper also presents the results of the empirical research on stress, which was conducted among managers and employees in Slovenian organizations in 2011. The analysis shows which individual and organizational approaches to overcoming stress are most commonly used. The highest percentage of employees implement the following techniques of individual approaches: physical activity, followed by eating healthy food and getting a massage. However, the research results about organizational approaches show that the highest attention was devoted to organization of work and the lowest to physical activities, stimulated by the firm. Furthermore, intergenerational adaptation is not widely used to prevent and overcome stress.