Search Results

1 - 10 of 82 items :

  • Management, Organization, Corporate Governance x
Clear All
Enabling Customer-Centricity and Relationship Management using Net Promoter Score

Abstract

We are in the fifth era of marketing development, that of relationship marketing, where the environment is influenced by globalization, informatization, market liberalization, and the overcapacity of production, and the focus will be not on increasing the volume of production, but on obtaining profit using relationship with profitable customers. Customer-centricity, customization, one-to-one relationship and measuring the value of each customer is an advantage in the fearless market. Organizations if they knew what customers wants would offering only those products or services they want, but to help them to know the customers’ needs better, they use models, new methods and calculation of performance indicators. One of the models which help organizations to determine the customer value and centricity is Net Promoter Score (NPS), its formula being developed by Reichheld F. in 2006. Our research is made on 10 organizations and on 150 respondents and is consisting in using NPS in order to observe customers’ perception of the analysed brands, to measure how well the brand is having satisfayed and loyal customers, and the desire for recommendation of the analysed brand. Our article is using simulation, modeling and IT programs to observe possible relationships and future trends.

Open access
Urban Farm-Nonfarm Diversification, Household Income and Food Expenditure in Ghana

-40. Barrett, C., Reardon, T., & Webb, P. (2001). Nonfarm income divesification and household livelihood strategies in rural Africa: Concepts, dynamics and policy implication. Food Policy, 26(4), 315-331. Becker, S. O., & Caliendo, M. (2007). Sensitivity analysis for average treatment effects. The Stata Journal, 7(1), 71-83. Becker, S., & Ichino, A. (2002). Estimation of average treatment effects based on propensity scores. Stata Journal, 2(4), 358-377. Bezu, S., Barrett, C., & Holden, S. (2012). Does nonfarm economy offer

Open access
The Effect of Government Subsidy on Non-Technological Innovation and Firm Performance in the Service Sector: Evidence from Germany

+ D de las empresas: un análisis empírico”, Herri ekonomiaz, No. 11, pp. 47-66. 13. Cainelli, G., Evangelista, R., Savona, M. (2004), „The impact of innovation on economic performance in services”, The Service Industries Journal, Vol. 24, No. 1, pp. 116-130. 14. Caliendo, M., Kopeinig, S. (2008), “Some Practical Guidance for the Implementation of Propensity Score Matching”, Journal of Economic Surveys, Vol. 22, No. 1, pp. 31-72. 15. Carboni, O. A. (2017), “The effect of public support on investment and R&D: An empirical evaluation on European

Open access
A Clustering Of Listed Companies Considering Corporate Governance And Financial Variables

References [1] Tobin, J: A General Equilibrium Approach To Monetary Theory. Journal of Money, Credit and Banking (1) pp.15–29 (1969) [2] Altman, E. I., Saunders, A.: Credit risk measurement: Developments over the last 20 years. Journal of banking & finance, 21(11), pp. 1721-1742 (1997). [3] Weimin Chen, Guocheng Xiang, Youjin Liu, Kexi Wang, Credit risk Evaluation by hybrid data mining technique, Systems Engineering Procedia, 3 (2012) [4] Kambal, E.; Osman, I.; Taha, M.; Mohammed, N.; Mohammed, S. Credit scoring using data mining

Open access
Financial Stability of Insurance Companies in Selected CEE Countries

Abstract

Background: Financial stability or soundness of insurance companies has gained importance over the years, especially after the financial crisis of 2008. Various stakeholders such as policy makers, regulators, the insured, etc. are interested in keeping the insurance sector stable since it contributes to overall financial stability.

Objectives: The authors explore the determinants of insurers’ soundness in selected countries in Central and Eastern Europe. The analysis covers life, non-life and composite insurers that operated in Croatia, Hungary, and Poland in the period 2013 – 2017.

Methods/Approach: A set of insurer – specific, industry – specific and macroeconomic variables are taken into consideration for having a potential influence on soundness measured by the Z-score. The variables include the size based on total assets, the share of premium ceded to reinsurance, claims growth, gross written premium growth, the premium to surplus ratio, market shares held by the five largest insurers, the share of gross written premium in the gross domestic product (GDP) and the GDP per capita growth.

Results: The findings reveal that soundness of Croatian insurers is positively influenced by the size of an insurer. Both in Hungary and Poland reinsurance plays an important factor positively affecting soundness.

Conclusions: Each of the insurance markets covered by the analysis reveals its characteristics and offers guidelines on factors influencing financial stability.

Open access
The Impact of Socially Responsible Reporting on Successful Corporate Operations

The aim of our research was to study the impact and purpose of the reporting on socially responsible conduct on the success of corporate operations. The data and information were gathered with the quantitative research method, whereas the instrument for gathering them was a questionnaire that was distributed among 759 large and medium sized organisations from the field of market services in the Republic of Slovenia. We have established that activities aimed at socially responsible conduct are directly connected with the success of corporate operations, especially the revenue (p = 0.001), the profit of a company (p = 0.000), operational growth (p = 0.007) and operational economy (p = 0.002), and are typical for organizations with a larger number of employees (p = 0.032). In this regard, the real estate and construction market activities received the lowest scores. Research results provide theoretical as well as practical benefits for everyone dealing with the planning, implementation and control of sustainable development, as well as socially responsible conduct within the organization.

Open access
Psychological Empowerment, Job Satisfaction and Organizational Commitment Among Lecturers in Higher Education: Comparison of Six CEE Countries

Abstract

Background and Purpose: Organizations should implement new findings from the field of human resource management. If an organization wants to have successful and effective employees, they should be satisfied with all aspects of work and at the same time they should be feel commitment towards an organization. To have a full insight in employees, organizations have to take care of psychological side of employees, which manifests in psychological empowerment.

Design/Methodology/Approach: The survey was conducted among 409 university lecturers in Austria, Croatia, Czech Republic, Germany, Serbia, and Slovenia. The investigated constructs of psychological empowerment, job satisfaction and organisational commitment were compared. Spreitzer’s PEQ was used for the assessment of the psychological empowerment, Spector’s JSS for job satisfaction, and Allen’s and Meyer’s OCQ for the assessment of organisational commitment.

Results: The research showed that the highest level of psychological empowerment can be found among university lecturers from Serbia and the lowest from Germany. Job satisfaction level is the highest in Austria and the lowest in Slovenia. Affective organisational commitment is the highest in Slovenia and the lowest in Germany. Continuance organisational commitment scored the highest in Croatia and the lowest in Czech Republic. Additionally, the outcomes show the highest level of normative organisational commitment in Czech Republic and the lowest in Austria. Only affective organisational commitment was not found as statistically significant.

Conclusion: Knowledge of psychological empowerment, job satisfaction and organizational commitment can be helpful for leaders, because with this knowledge they can manage, develop and motivate employees properly.

Open access
The Level of Disclosure in Annual Reports of Banks: The Case of Slovenia

Abstract

Background and Purpose: Many studies have explored the disclosures in annual reports of companies. Annual reports of banks differ significantly from annual reports of other business entities, particularly in terms of disclosed items. The aim of this article is to investigate the level of disclosures and which factors influence the level of disclosure in the annual reports of banks in Slovenia.

Design/Methodology/Approach: We have observed disclosures of all banks in Slovenia for year 2012 and 2015. The factors as used in the study are age, size, the government share, profitability and complexity of a bank. Our disclosure checklist consists of 144 voluntary and mandatory items. Statistical analysis is performed using linear regression analysis.

Results: The average score for banks in Slovenia is near 94 points or 63% of all possible disclosures. The results of analyses indicated positive associations and statistical correlations between the level of disclosure in annual reports and the size of a bank, the share of government ownership and negative statistical influence of the age of bank on the level of disclosure. Our results do not show statistically significant correlation between the level of disclosure and a bank’s profitability and complexity, which is against theory and findings from other similar research. Conclusion: In our opinion, results well reflect the Slovenian banking system and how banks reveal their information. Our finding is that banks in Slovenia provide less information to the public compared to the average companies in other branches or banks in similarly developed countries. The paper’s main contribution is to deepen our knowledge about disclosures in the bank’s annual reports and the answers what are the influential factors of disclosures for banks.

Open access
Efficiency Analysis of Restaurants in a Small Economy after the Implementation of Fiscal Cash Registers: The Case of Slovenia

Abstract

Background and purpose: The aim is to analyse the efficiency of small and medium-sized (SMEs) restaurant enterprises in Slovenia after the government’s implementation of fiscal cash registers in January 2016. Strict financial supervision and the introduction of fiscal cash registers resulted in increased officially registered sales revenues, higher taxes, and more available and reliable financial data. No previous study has analysed restaurants’ efficiency in the country, as, due to fiscal malpractice, accounting data have not provided a reliable source for accurate efficiency evaluation.

Design/Methodology/Approach: Efficiency was assessed using Data Envelopment Analysis (DEA), based on secondary-financial data provided by the national tax authorities. Data were gathered from 142 independently run restaurant SMEs in 2017.

Results: The average efficiency score of Slovene restaurant SMEs is 85%, which indicates that, on average, restaurants have to increase their efficiency level by 15% in order to improve their efficiency according to the most efficient (best-performing) units under comparison. Our research results indicate a relatively successful and comparable level of efficiency performance in comparison to those found in previous international studies. The results also reveal that the patterns of conducting business operations in terms of efficient management are relatively similar across the restaurant sector. Surprisingly, in terms of determining the influence of different groups of operational variables on restaurants’ efficiency performance, the research results indicate that only operational financial variables (costs of goods sold, labour costs, and depreciation) influence efficiency performance, while managers’ demographic characteristics (gender, age, education, years of experience) and restaurants’ physical characteristics (size, number of competitors, location) have no statistically significant influence on restaurants’ efficiency in achieving net sales revenues.

Conclusion: Secondary-financial data represent a valuable source of information for restaurant companies’ efficiency analysis. The use of selected variables enables an internationally comparable benchmarking process and facilitates the improvement of restaurants’ efficiency performance. It is suggested that future research include longitudinal data and focus on the systematic analysis of other variables (e.g., managers’ psychographic characteristics) that might influence restaurants’ efficiency performance.

Open access
Key success factors of social services organizations in the public sector

Abstract

Key success factors of social services organizations in the public sector The basic goal behind any action undertaken in an organization management is the will to achieve success. Key (or critical) success factors are the organization’s resources, competence and qualification that create its competitive advantage on a particular market at a given time, and are able to determine its possible future success. The aim of this article is to identify key success factors of the social service organizations in the public sector. The analysis of the overall evaluation of the distinct areas for an organization’s future success (calculated as the mean of each respondent’s rating of the items in the areas) demonstrated that, according to the respondents, staff competence is the most important (Table 14). This area’s mean rating amounted to 6.27 points in a seven-point scale. It should be stressed that the diversification of the items’ rating in the area was relatively low, with the standard deviation being 0.76 points. Such a value indicates that the respondents were rather unanimous in their evaluation of staff competence as of the utmost importance to an organization’s success. The items which weigh to an organization’s future success was rated very highly, at over 6 points, were service quality (mean: 6.07 points) and teamwork (mean: 6.07 points). Also the average score of funds accessibility amounted to 6 points. According to the respondents, the items of the least importance to an organization’s future success proved to be terms of employment (mean: 5.18 points) and interorganizational cooperation (mean: 5.66). However, it needs to be emphasis should be put on the fact that the respondents evaluated all the areas of the research as important, and the differences between the ratings of particular areas were relatively minor. Moreover, the diversification of these ratings might be described as little, as reflected in the values of standard variations that do not exceed 1 point, and in moderate values of range.

Open access