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Proceedings of the International Scientific Conference of Business Economics, Management and Marketing (ISCOBEMM 2017) Cover Image

Proceedings of the International Scientific Conference of Business Economics, Management and Marketing (ISCOBEMM 2017)
Proceedings of the International Scientific Conference of Business Economics, Management and Marketing (ISCOBEMM 2017)

Contributor(s): Lenka Janošová (Editor), Ladislava Kuchynková (Editor), Martin Cenek (Editor)
Subject(s): Gender Studies, Business Economy / Management, Micro-Economics, Agriculture, Labor relations, Management and complex organizations, Economic development, Accounting - Business Administration, Marketing / Advertising, Human Resources in Economy, ICT Information and Communications Technologies, Socio-Economic Research, Transport / Logistics
Published by: Masarykova univerzita nakladatelství
Keywords: Building a brand on the internet; unemployment development; agriculture; Foreign direct investment; Open innovation mode; Marketing; Human Resource Management: Family firms; Employees´ Competencies; Social Housing Costs;
Summary/Abstract: Second annual International Scientific Conference of Business Economics, Management and Marketing ISCOBEMM 2017 was organized by the Department of Corporate Economy of the Faculty of Economics and Administration of Masaryk University in Zaječí, Czech Republic. The topic of this year's conference was “Corporate Management vs. Upcoming Challenges”. Specifically, the participants covered tracks of Finance and Economic Analysis, Human Resource Management, Marketing, Innovation, Business and Management and Social Issues of Today's Business. Participants from numerous universities from the Czech Republic, Poland, Slovak Republic and Austria were accompanied by researchers from more distant countries like Algeria and China.

  • E-ISBN-13: 978-80-210-8714-9
  • Page Count: 368
  • Publication Year: 2017
  • Language: English
HOW TO EFFECTIVELY BUILD EMPLOYER'S BRAND ON THE INTERNET? ACTIVITIES OF EMPLOYERS VERSUS OPINIONS OF REPRESENTATIVES OF Y GENERATION

HOW TO EFFECTIVELY BUILD EMPLOYER'S BRAND ON THE INTERNET? ACTIVITIES OF EMPLOYERS VERSUS OPINIONS OF REPRESENTATIVES OF Y GENERATION
(HOW TO EFFECTIVELY BUILD EMPLOYER'S BRAND ON THE INTERNET? ACTIVITIES OF EMPLOYERS VERSUS OPINIONS OF REPRESENTATIVES OF Y GENERATION)

  • Author(s):Dorota Bednarska-Olejniczak
  • Language:English
  • Subject(s):Business Economy / Management, Marketing / Advertising, ICT Information and Communications Technologies
  • Page Range:1-8
  • No. of Pages:8
  • Keywords:employer branding; employer image; generation Y; internet;
  • Summary/Abstract:The article broaches the subject of employer brand creation on the Internet. The goal of this work is to describe these actions within external employer branding which are performed on the Internet, and to show their possibilities and limitations, especially among the audience most active in the medium (Millennials, Generation Y). The basis for employer brand creation is the Employer Value Proposition, which describes functional, emotional and self-expression advantages. For Millennials, the biggest factors in positive image of an employer brand are: aiding in personal development, integrity, honesty, and credibility of the employer, attractive and reliable salary, and good workplace atmosphere. The most important self-expression factor is the employer brand prestige.
THE UNEMPLOYMENT DEVELOPMENT IN RELATION TO THE PERFORMANCE OF AGRICULTURAL ENTERPRISES IN SELECTED REGIONS OF THE CZECH REPUBLIC

THE UNEMPLOYMENT DEVELOPMENT IN RELATION TO THE PERFORMANCE OF AGRICULTURAL ENTERPRISES IN SELECTED REGIONS OF THE CZECH REPUBLIC
(THE UNEMPLOYMENT DEVELOPMENT IN RELATION TO THE PERFORMANCE OF AGRICULTURAL ENTERPRISES IN SELECTED REGIONS OF THE CZECH REPUBLIC)

  • Author(s):Markéta Beranová, Hana Vostrovská, Miroslava Navrátilová, Helena Čermáková, Hana Urbancová
  • Language:English
  • Subject(s):Agriculture, Transformation Period (1990 - 2010), Present Times (2010 - today), Human Resources in Economy, Socio-Economic Research
  • Page Range:9-19
  • No. of Pages:11
  • Keywords:agriculture; general unemployment rate; region; profit or loss; personnel costs;
  • Summary/Abstract:Since 1989, not only has the economy of the agricultural sector been fundamentally transformed, but also those of other sectors. The consequences of changes in agricultural enterprises have primarily become evident in the employment rate and their performance. This article aims to evaluate the financial performance of agricultural enterprises in selected regions in relation to the general unemployment rate in these regions. The results obtained are based on the collection and processing of secondary data from the database of economic and financial records called Amadeus (na = 117, nb = 81) and from publicly available financial statements of enterprises. The evaluated results have shown that the general unemployment rate does not affect the financial results and personnel costs, and thus neither the performance of agricultural enterprises.
THE CONSEQUENCES OF CONSUMER DISSATISFACTION

THE CONSEQUENCES OF CONSUMER DISSATISFACTION
(THE CONSEQUENCES OF CONSUMER DISSATISFACTION)

  • Author(s):Portia Opoku Boadi, Li Guoxin, Philip Antwi
  • Language:English
  • Subject(s):Behaviorism, Socio-Economic Research
  • Page Range:20-28
  • No. of Pages:9
  • Keywords:consumer dissatisfaction; complaints; negative WOM; inertia; co-creation; intention;
  • Summary/Abstract:Research into consumer satisfaction levels has gone far enough for several years now, however, much has not been done to reiterate how consumers will react and deal with their dissatisfaction and the effect it has on the companies. The focus of this study is mainly to know how far a consumer is willing to go when dissatisfied with a product or service, in effect, weighing all the pros and cons of consumer dissatisfaction. The major consequences of consumer dissatisfaction discussed in this paper include negative Word-of-mouth, switch, complaints and no co-creation intentions. One major finding of this study is that all literature on consumer satisfaction relates it with consumer dissatisfaction by using several theories to explain a consumer’s judgement after consuming a product or service.
FOREIGN DIRECT INVESTMENTS AND FORMS OF INVESTMENT AID

FOREIGN DIRECT INVESTMENTS AND FORMS OF INVESTMENT AID
(FOREIGN DIRECT INVESTMENTS AND FORMS OF INVESTMENT AID)

  • Author(s):Aneta Bobenič Hintošová, Rastislav Ručinský
  • Language:English
  • Subject(s):Business Economy / Management, Economic policy, International relations/trade, Transformation Period (1990 - 2010), Present Times (2010 - today), Fiscal Politics / Budgeting
  • Page Range:29-35
  • No. of Pages:7
  • Keywords:foreign direct investment; investment aid; fiscal aid; financial aid;
  • Summary/Abstract:The paper deals with a problem of the association between foreign direct investment inflows and special forms of investment aid. Based on theoretical background as well as previous empirical findings the role of investment aid in attracting foreign direct investment is rather disputable. In our interest is to study the relationship between particular forms of investment aid (fiscal and financial aid) and foreign direct investment inflows in conditions of Slovak republic. Our research conducted in the period of 2003 – 2015 using correlation and regression analyses confirms positive and statistically significant relationship between given fiscal investment aid and foreign direct investment inflows in conditions of Slovak republic.
IMPORTANCE OF OPEN INNOVATION MODE FOR START-UP PROJECTS

IMPORTANCE OF OPEN INNOVATION MODE FOR START-UP PROJECTS
(IMPORTANCE OF OPEN INNOVATION MODE FOR START-UP PROJECTS)

  • Author(s):Jan Boubín
  • Language:English
  • Subject(s):Business Economy / Management, Economic development
  • Page Range:36-43
  • No. of Pages:8
  • Keywords:closed innovation; implementation; open innovation; open data; start-up;
  • Summary/Abstract:Innovation represents a potential for economic development and its acceleration. Start-up projects constitute another significant potential for this development. Valuable ideas of young ambitious people may help to open up a new business ways and can be a motivation for development even in various companies and in a large spectrum of business sectors. On the other side, there is a lack of experience and information base of young people this way. This make risks that may limit the possibility of realization of the project or reduce the economic return on investment of the project. Elimination of these risks may pose a Open Innovation mode and application of Open Data for the purpose of establishing and managing a Start-up project. The aim of the paper is to evaluate alternatives to the use of Open Innovation mode for Start-up projects, with emphasis on the application of Open Data for the implementation and management of projects. The outcome of this paper is a comprehensive overview of the practical use of Open Data and Open Innovation mode for Start-up projects.
ON ABDUCTIVE REASONING FOR STRATEGIC CASES SOLUTION

ON ABDUCTIVE REASONING FOR STRATEGIC CASES SOLUTION
(ON ABDUCTIVE REASONING FOR STRATEGIC CASES SOLUTION)

  • Author(s):Martin Cenek
  • Language:English
  • Subject(s):Business Economy / Management, Logic, Pragmatism
  • Page Range:44-55
  • No. of Pages:12
  • Keywords:strategic management; abductive reasoning; inference; logic; pragmatism;
  • Summary/Abstract:The most important task for every company is to set an optimum strategy – a strategy that determines future success and the very survival of the company on the market. This involves an intricate decision-making in the context of increasingly complex conditions of the entrepreneurial environment and hypercompetition. These conditions, however, do not eliminate the need for rational decisions; quite the contrary, they offer a suitable stimulus for creating new approaches which accommodate current conditions. The subject of this paper is an introduction of a new methodology for solving strategic cases with a focus on conducting a strategic analysis from the point of view of the solver. The paper presents the basis of the methodology and the solution process based on the methodology itself. For better illustration, a case study demonstrating the solution of a real-life strategic case is included.
MARKETING PERFORMANCE ASSESSMENT IN BUSINESSES IN SLOVAKIA

MARKETING PERFORMANCE ASSESSMENT IN BUSINESSES IN SLOVAKIA
(MARKETING PERFORMANCE ASSESSMENT IN BUSINESSES IN SLOVAKIA)

  • Author(s):Katarína Grančičová, Gabriela Dubcová, Dana Hrušovská
  • Language:English
  • Subject(s):Business Economy / Management, Marketing / Advertising
  • Page Range:56-64
  • No. of Pages:9
  • Keywords:marketing; marketing performance; indicators of marketing performance; marketing metrics;
  • Summary/Abstract:This article aims to emphasize the need for assessment of marketing performance in relation to business performance, it suggests a number of approaches in this area and defines the most commonly used indicators and measures of marketing performance in business practice basedon published statistics from already conducted surveys. Managers can use various methods of analysis to understand the own firm's capabilities, customers, and business environment. We focused on companies in the Slovak Republic based on the trends suggested in the area of marketing performance assessment and data from the surveys. We analyze the level of marketing performance assessment of businesses in Slovakia as well as the problems of measuring marketing performance.
CORPORATE AND RECRUITMENT WEBSITES AS TOOLS FOR RECRUITING

CORPORATE AND RECRUITMENT WEBSITES AS TOOLS FOR RECRUITING
(CORPORATE AND RECRUITMENT WEBSITES AS TOOLS FOR RECRUITING)

  • Author(s):Ludvik Eger, Dana Egerová, Michal Mičík, David Prantl
  • Language:English
  • Subject(s):Business Economy / Management, ICT Information and Communications Technologies, Socio-Economic Research
  • Page Range:65-75
  • No. of Pages:11
  • Keywords:recruiting; corporate websites; recruitment websites; social media; job seekers;
  • Summary/Abstract:In recent years, the use of corporate websites to recruit potential job applicants has played an important role in HR practises. It is also evident that corporate websites are considered as one of the major tools for attracting and selecting new employees. Despite this trend, the empirical research on the use of corporate websites for recruitment processes is still limited. The paper reports the findings from the survey focused on evaluation of 107 corporate websites of the association AutoSAP in the Czech Republic with the aim to better understand how these companies use their own websites for recruiting and selection of potential job applicants., In this study, 16 items were divided into three sections and were used for evaluation of corporate websites and social media sites. Our findings show that most companies provide explicit organisation-related information and available information regarding job characteristics. On the other hand, the findings highlight that most companies do not communicate elements regarding their culture and do not provide content particularly targeting college or university candidates. Moreover, only a half of companies from our sample (AutoSAP) uses social media as a part of their recruitment efforts. Findings of this study are useful for an improvement of company’s communication and their recruitment process on the Internet. Outcomes can also improve attractiveness of a company for talented young people who are looking for their future employer.
ONLINE REPUTATION MANAGEMENT AS AN INTEGRAL PART OF COMPANY BUSINESS MANAGEMENT

ONLINE REPUTATION MANAGEMENT AS AN INTEGRAL PART OF COMPANY BUSINESS MANAGEMENT
(ONLINE REPUTATION MANAGEMENT AS AN INTEGRAL PART OF COMPANY BUSINESS MANAGEMENT)

  • Author(s):Vladimír Hojdik, Štefan Majtán
  • Language:English
  • Subject(s):Business Economy / Management, ICT Information and Communications Technologies
  • Page Range:76-83
  • No. of Pages:8
  • Keywords:online reputation; online reputation management; ORM; sentiment analysis; business management;
  • Summary/Abstract:Corporate reputation is one of the most important factors which influence the image of company in public. A positive reputation can result in many benefits for company and thus improve a corporate performance. Nowadays, companies need to deal with big challenges. Growing potential of Internet and digital technologies cause that companies have to manage their reputation in the online environment, too. Online marketing and online business activities of firms are forcing managers to pay attention to online reputation management (ORM). The aim of this paper is to bring the issue of online reputation management and underline its growing importance in business management. It also explains one of mostly used concepts for measuring the online reputation management – sentiment analysis and real examples of its usage. This work should also inspire managers to focus on building positive online reputation and manage it in a way it will be favourable for the company.
CAN SOME PERFORMANCE MODEL BE USED TO EVALUATE THE LEVEL OF STRATEGICAL LEADERSHIP?

CAN SOME PERFORMANCE MODEL BE USED TO EVALUATE THE LEVEL OF STRATEGICAL LEADERSHIP?
(CAN SOME PERFORMANCE MODEL BE USED TO EVALUATE THE LEVEL OF STRATEGICAL LEADERSHIP?)

  • Author(s):Jaroslav Hradílek
  • Language:English
  • Subject(s):Business Economy / Management, Management and complex organizations
  • Page Range:84-99
  • No. of Pages:16
  • Keywords:leadership quality; non-financial factors; performance model; benchmarking; comparison;
  • Summary/Abstract:The value of a company for all stakeholders and a future success can hardly be predicted withmeans of financial analysis only, for non-profit entities not at all. Can we evaluate and measure the quality of leadership? What are the factors which a successful organization must have? The aim of the article is to identify the performance model, which can be used as a tool to measure the quality of the leadership and predict the success of the company/non-profit organization. It compares various methods/models used for financial analysis and performance models leading to a best suitable model, though no model can be used without constraints. Own performance benchmarking model has been therefore developed to enable such evaluation in a time and effort effective way, yet robust enough to get a fair overview over an evaluated entity.
SIMULATION-BASED INFLUENCE OF ASPIRATION MODELS ON FIRMS’ BEHAVIOR

SIMULATION-BASED INFLUENCE OF ASPIRATION MODELS ON FIRMS’ BEHAVIOR
(SIMULATION-BASED INFLUENCE OF ASPIRATION MODELS ON FIRMS’ BEHAVIOR)

  • Author(s):Michal Jirásek
  • Language:English
  • Subject(s):Business Economy / Management
  • Page Range:101-109
  • No. of Pages:9
  • Keywords:aspiration models; firm behavior; simulation-based testing;
  • Summary/Abstract:The performance feedback process is according to the behavioral theory of the firm one of key factors influencing firms’ decisions on strategies and their changes. The research contained in this paper compares influences of four classical aspiration models (historical, social, mixed and switching) on firms’ strategy choices. Using NetLogo simulation software, a simplemodel of firms’ behavior is constructed and used for analysis of these effects. The role of the social aspiration model is highlighted as it partially differs from the other aspiration models analyzed. This points out to the need to put an attention to a firm’s reference group of competitors. The paper itself in general advocates the use of simulation for behavioral research as a useful, yet supplemental, tool of researchers.
HUMAN RESOURCE MANAGEMENT THEMES AND THEIR COVERAGE BY ARABIC WRITTEN DISSERTATION THESES

HUMAN RESOURCE MANAGEMENT THEMES AND THEIR COVERAGE BY ARABIC WRITTEN DISSERTATION THESES
(HUMAN RESOURCE MANAGEMENT THEMES AND THEIR COVERAGE BY ARABIC WRITTEN DISSERTATION THESES)

  • Author(s):Michal Jirásek, Bachir Ouddane
  • Language:English
  • Subject(s):Higher Education , Human Resources in Economy
  • Page Range:110-118
  • No. of Pages:9
  • Keywords:human resource management; dissertation thesis; arabic language;
  • Summary/Abstract:Human Resource Management is gaining increased attention reflecting the growing importance of this field for organizations trying to successfully exist in the global competitiveenvironment. The research presented in the paper is a scoping review focused on Arabic language written dissertation literature on classical Human Resource Management themes. Although English is clearly becoming universal academic language, this paper argues for a need of research written in practitioners’ native languages in order to spread the theoretical ideas among both managers and employees. First, the systematic review of Human Resource Management themes is done on recent course books from major educational publishers. Second, the search for dissertation theses written in Arabic language, using case study approach and focusing on these themes is conducted. These theses are generally not accessible through worldwide databases. All the identified studies are at least partially focused on Training and Development field and after summing up the most important findings from them, suggestions for further research are formulated.
FAMILY FIRMS AND THEIR SOCIAL RESPONSIBILITY DISCLOSURE

FAMILY FIRMS AND THEIR SOCIAL RESPONSIBILITY DISCLOSURE
(FAMILY FIRMS AND THEIR SOCIAL RESPONSIBILITY DISCLOSURE)

  • Author(s):Klára Kašparová
  • Language:English
  • Subject(s):National Economy, Business Economy / Management, Socio-Economic Research
  • Page Range:119-127
  • No. of Pages:9
  • Keywords:family firms; CSR reporting; website; community; standards;
  • Summary/Abstract:Family firms play an important role in the economy. Even they are more conservative than non-family firms, they monitor new trends like corporate social responsibility reporting as well. Studies on family business CSR reporting are not widespread. Because of this, the aim of paper was to find out whether and about what topics family firms disclose information, in what detail and where. Author analysed websites of the 30 Czech largest family firms using content analysis. Results show that family firms disclose more often information about their activities in the community and about their certification standards or more precisely about fulfilment of their commitments resulting from voluntarily accepted norms. If they decide to disclose CSR information, they often provide information in more detail. Information about their social responsibility behaviour is placed usually in the section called “About Us” most frequently in subsections and partly directly in the main body of the section.
THE ANALYSIS OF THE ECONOMIC SITUATION OF FAMILY BUSINESSES IN POLAND AND IN EUROPE

THE ANALYSIS OF THE ECONOMIC SITUATION OF FAMILY BUSINESSES IN POLAND AND IN EUROPE
(THE ANALYSIS OF THE ECONOMIC SITUATION OF FAMILY BUSINESSES IN POLAND AND IN EUROPE)

  • Author(s):Justyna Kogut
  • Language:English
  • Subject(s):Business Economy / Management, Economic development, Socio-Economic Research
  • Page Range:128-137
  • No. of Pages:10
  • Keywords:Polish family businesses; European family businesses; the economic situation of enterprises;
  • Summary/Abstract:In Poland, as well as in Europe, there are many family businesses, in which the management is passed down from one generation to another. These companies aim to achieve the highest possible profit, continuous improvement and development and Struve to remain on the market. Running well developer, inherited family business seems to be much easier than building a business from scratch. However it can be observed that family businesses also encounter many obstacles and challenges. The purpose of this article is a comparative analysis of the economic situation of family businesses in Poland and in Europe. In the theoretical part of paper, the concept of “family businesses” was defined and elaborated. The empirical part contains the analysis of the research results presented in the fifth edition of the report “Barometr firm rodzinnych. Konsekwentnie do sukcesu” (“Barometer of family firms. Consequently to success”). The study was conducted by KPMG in 2016 among family businesses in Poland and family businesses operating in selected European countries. The theoretical and empirical parts of the article allows for in-depth understanding the economic situation of family businesses in Poland and Europe. The paper draws attention to these entities which are necessary and beneficial for various social groups, the government, local authorities and non-governmental organizations. It also brings closer the most important challenges facing family businesses, builds awareness of their importance and discusses specific strategic behavior.
HOW KNOWLEDGE FROM CUSTOMERS AFFECTS PRODUCT DESIGN AND PROCESS MANAGEMENT: INITIAL EVIDENCE FROM SYSTEMATIC LITERATURE REVIEW

HOW KNOWLEDGE FROM CUSTOMERS AFFECTS PRODUCT DESIGN AND PROCESS MANAGEMENT: INITIAL EVIDENCE FROM SYSTEMATIC LITERATURE REVIEW
(HOW KNOWLEDGE FROM CUSTOMERS AFFECTS PRODUCT DESIGN AND PROCESS MANAGEMENT: INITIAL EVIDENCE FROM SYSTEMATIC LITERATURE REVIEW)

  • Author(s):Michal Krčál, Radoslav Škapa
  • Language:English
  • Subject(s):Business Economy / Management, Socio-Economic Research
  • Page Range:138-148
  • No. of Pages:11
  • Keywords:customer satisfaction; reverse flows; continuous improvement; literature review;
  • Summary/Abstract:The goal of this paper is to report the initial evidence from an ongoing systematic literature review that focuses on the use of knowledge from customers. This article shows how the knowledge from customers affects the intersections of two disciplines: product (re)design and business process management (process optimization). We are using part of the data from a vast ongoing literature review that analyses the content of research articles that investigated how is any form of information or knowledge used for or within product design or business process management. The results of the content analysis show that not much research is focusing on the concept of using knowledge from customers in the two disciplines. Therefore, we are concluding with suggestions and directions for further research.
ASSESSMENT OF THE SMALL BUSINESS ACT´S IMPLEMENTATION IN SMALL AND MEDIUM ENTERPRISES IN SLOVAKIA

ASSESSMENT OF THE SMALL BUSINESS ACT´S IMPLEMENTATION IN SMALL AND MEDIUM ENTERPRISES IN SLOVAKIA
(ASSESSMENT OF THE SMALL BUSINESS ACT´S IMPLEMENTATION IN SMALL AND MEDIUM ENTERPRISES IN SLOVAKIA)

  • Author(s):Ľubica Lesáková
  • Language:English
  • Subject(s):Business Economy / Management, Micro-Economics, Commercial Law
  • Page Range:149-159
  • No. of Pages:11
  • Keywords:Small Business Act; small and medium enterprises; principles; Slovak Republic;
  • Summary/Abstract:Implementing Small Business Act for Europe (SBA) represents the key appeal for the European Union and its member countries within the support of small and medium entrepreneurial activity. Small Business Act for Europe consists of a set of ten principles that lay down the measures for the support of small and medium (SME) in varied fields. These principles have to be respected when suggesting the measures of complex character aimed atthe support of small and medium enterprises development in the EU member countries. The aim of the paper is to assess the state in implementing the SBA´s initiative in small and medium enterprises in Slovakia, to identify the policy areas (principles) in which main strengths and weaknesses in implementing the SBA´s initiative is evident and to list specific factors (programmes, measures, initiatives, acts) which affected the state in concrete principles. Following the aim of the paper a set of research questions will be formulated. To fulfil the settled aim several scientific methods of examination, namely the method of analysis, synthesis, induction and deduction will be used.
SYSTEMATIC RISK DETERMINANTS

SYSTEMATIC RISK DETERMINANTS
(SYSTEMATIC RISK DETERMINANTS)

  • Author(s):Helena Majdúchová, Bernadeta Siváková, Jakub Kintler
  • Language:English
  • Subject(s):Business Economy / Management, Accounting - Business Administration
  • Page Range:160-170
  • No. of Pages:11
  • Keywords:return risk; beta coefficient; alternative approaches; panel data; simple linear regression;
  • Summary/Abstract:In case of the non-tradable companies, the systematic risk cannot be received through the movements of the prices traded on the stock market. Therefore, in practise there are also different approaches for determining the beta coefficient. Based on the relevant researches, the systematic risk reflects both external and internal factors and their identification offers new alternative approaches for its quantification. For example, the accounting information reflects all events and decisions. However, they include not only the systematic risk, but also the specific one. Therefore, it is likely that the accounting information will not be in a perfect correlation with the beta coefficient. Despite of this, the accounting information are considered as the most appropriate approach of defining the overall risk of the company. The aim of the paper is to define the determinants that affect the determination of systematic risk by testing the selected accounting variables.
IMPLEMENTATION OF ELECTRONIC RECORDS OF SALES IN THE CZECH REPUBLIC AND IT’S ECONOMIC BENEFITS

IMPLEMENTATION OF ELECTRONIC RECORDS OF SALES IN THE CZECH REPUBLIC AND IT’S ECONOMIC BENEFITS
(IMPLEMENTATION OF ELECTRONIC RECORDS OF SALES IN THE CZECH REPUBLIC AND IT’S ECONOMIC BENEFITS)

  • Author(s):Marta Martinová, Martina Hedvičáková, Libuše Svobodová
  • Language:English
  • Subject(s):National Economy, Business Economy / Management, Economic policy, Fiscal Politics / Budgeting
  • Page Range:171-179
  • No. of Pages:9
  • Keywords:electronic records of sales, tax; Croatia; costs;
  • Summary/Abstract:This article aims to evaluate the main benefits and effects of the Electronic records of sales (hereinafter referred to as EET). EET obligation was compulsory established for all legal entities doing business in the country. EET system is starting in several stages. The first stage covered the restaurants and hotels. The second stage covered approximately 250 thousand of traders. Final third and fourth stage will cover the rest of legal entities in the Czech Republic. The objective of implementing the EET system is straightening business environment for all legal entities in the Czech Republic, because part of the economic activity takes place in the so-called shadow zone that is not under the control of financial administration of the state. State administration expects the increase of tax collection. In the article there will be examined recent experience with tax collection and the impact of implementing EET on the state budget. There will also be evaluated the benefits to businesses and government entities. Based on the review of existing models of Electronic records of sales there will be compared amount of collect taxes and economic situation with other countries that have implemented EET with an emphasis on the Republic of Croatia.
IMPROVING SUSTAINABILITY OF HUMAN RESOURCES THROUGH PENSION SYSTEM EXTENSION

IMPROVING SUSTAINABILITY OF HUMAN RESOURCES THROUGH PENSION SYSTEM EXTENSION
(IMPROVING SUSTAINABILITY OF HUMAN RESOURCES THROUGH PENSION SYSTEM EXTENSION)

  • Author(s):Jan Mertl, Radim Valenčík
  • Language:English
  • Subject(s):Labor relations, Human Resources in Economy, Socio-Economic Research
  • Page Range:180-191
  • No. of Pages:12
  • Keywords:pension systems; statutory retirement age; merit-based pension system; productive employment;
  • Summary/Abstract:Recent development has been characterized by low fertility, prolonging human life and possibly flexible working career. In addition, intergenerational issues and teamwork are crucial for business performance. This creates new issues for human resource management, since the people should work longer and social systems including pension one have to be set in such a way that they support this behaviour. Because recent efforts to innovate pension systems empirically failed, we suggest new motivation strategies to cope with the described development within social systems. Therefore, we present in this paper the postgraduate pension system extension as a new component of pension system. We construct a model of this extension and then discuss its impact for current socioeconomic environment and sustainability of human resources throughout lifelong career.
BUSINESS INTELLIGENCE SYSTEM IMPLEMENTATION AND ITS APPLICATION IN MANAGEMENT OF MEDIUM-SIZED ENTERPRISE

BUSINESS INTELLIGENCE SYSTEM IMPLEMENTATION AND ITS APPLICATION IN MANAGEMENT OF MEDIUM-SIZED ENTERPRISE
(BUSINESS INTELLIGENCE SYSTEM IMPLEMENTATION AND ITS APPLICATION IN MANAGEMENT OF MEDIUM-SIZED ENTERPRISE)

  • Author(s):Marta Nosková
  • Language:English
  • Subject(s):Business Economy / Management
  • Page Range:192-199
  • No. of Pages:8
  • Keywords:business intelligence; BI; small and medium-sized enterprises (SME);
  • Summary/Abstract:Information technology helps enterprises to exchange loads of information, although often without the distinguishing their importance for decision-making. Business Intelligence (BI) systems are usually implemented in order to support decision-making process in enterprises. BI provides tools and techniques that are able to transform business data into useful information and knowledge. Nowadays BI is not only domain of large companies, but also domain of many small and medium-sized enterprises. This article summarizes theoretical background of BI, its relation to knowledge management, its tools; and discusses the possibilities of its use. In addition, the example of BI implementation in particular mediumsized enterprise is presented. The implementation is described by objectives of BI, monitored areas of organisational performance and future possible development. Overall, it shows how individual managerial processes in the enterprise can be supported by BI system.
TECHNOLOGY TRANSFER INDUSTRY UNIVERSITY COOPERATION - EVIDENCE IN PRACTICE

TECHNOLOGY TRANSFER INDUSTRY UNIVERSITY COOPERATION - EVIDENCE IN PRACTICE
(TECHNOLOGY TRANSFER INDUSTRY UNIVERSITY COOPERATION - EVIDENCE IN PRACTICE)

  • Author(s):Pavla Odehnalová
  • Language:English
  • Subject(s):Business Economy / Management, Higher Education , Health and medicine and law
  • Page Range:200-207
  • No. of Pages:8
  • Keywords:technology transfer; interdisciplinary cooperation; opportunities; SME;
  • Summary/Abstract:Successful technology transfer requires very good cooperation between firm practice and researchers. Presented paper is dedicated to the transfer of technology and interdisciplinarycooperation between industry and university. Mentioned example of small firm that have successfully been financed from the SME Instrument Horizon 2020 displays the main opportunities which can interdisciplinary cooperation offer to the involved parties. These are the using of electronic information resources and databases that leads to increasing quality of delivered handouts. The main problem of the technology transfer such as high price of processed plans and low quality of information generated by the private companies are mentioned.
GENDER AND PERSONALITY TRAITS' (BFI-10) EFFECT ON TRUST

GENDER AND PERSONALITY TRAITS' (BFI-10) EFFECT ON TRUST
(GENDER AND PERSONALITY TRAITS' (BFI-10) EFFECT ON TRUST)

  • Author(s):Cecília Olexová, František Sudzina
  • Language:English
  • Subject(s):Gender Studies, Business Economy / Management, Personality Psychology, Socio-Economic Research
  • Page Range:208-219
  • No. of Pages:12
  • Keywords:trust; personality traits; gender; empirical research; quantitative methods;
  • Summary/Abstract:The concept of trust found its way from sociological and psychological research to business and economic research. Societal trust was measured using a dichotomous question. Later research used the two statements as separate items because answers to them are not truly opposite. The aim of this paper is to investigate if gender and personality traits influence rating of these two statements. Big Five Inventory-10 is used to measure personality traits. The research was conducted in Slovakia using a paper-based questionnaire. This paper is a replication of two previous studies conducted in Denmark. The research aims to contribute to the replication efforts initiated because of the co-called replication crisis. With regards to the results, agreeableness significantly and positively influenced the first measure of trust; extraversion and openness to experience significantly and negatively influenced the second measure of trust - mistrust. The latter differs from previous findings, so conducting of the replication was justified.
IMPACT OF GENDER AND PERSONALITY TRAITS ON PREFERRED PRICING OF PUBLIC TRANSPORT IN RUSH HOURS

IMPACT OF GENDER AND PERSONALITY TRAITS ON PREFERRED PRICING OF PUBLIC TRANSPORT IN RUSH HOURS
(IMPACT OF GENDER AND PERSONALITY TRAITS ON PREFERRED PRICING OF PUBLIC TRANSPORT IN RUSH HOURS)

  • Author(s):Antonín Pavlíček, František Sudzina
  • Language:English
  • Subject(s):Gender Studies, Personality Psychology, Transport / Logistics
  • Page Range:220-230
  • No. of Pages:11
  • Keywords:personality traits; public transport; pricing;
  • Summary/Abstract:Price is an inherent part of marketing mix. It is used for multiple reasons, from skimming consumer's surplus to antimarketing. In public transport, higher prices are often used in rush hours. The logic is to give an incentive to customers to travel outside rush hours, thus more evenly distribute the load. But it is possible to argue that prices should be lower in rush hours because means of public transportation tend to be full, i.e. there is a lower comfort of travelling, possibly even taking longer to travel the same distance. It is also possible to argue that the prices should be the same all the time because the distance of travel stays the same. The paper analyzes if gender and personality traits influence for which pricing a person would decide. The logic for the three ways of pricing were not provided in the questionnaire. Big Five Inventory-10 was used to measure personality traits. Moreover, narcissism, and trust were included. The research was conducted in the Czech Republic using an on-line questionnaire.
THE EFFECT OF CZECH CONSUMERS’ SOCIODEMOGRAPHIC CHARACTERISTICS ON FAIRTRADE GOODS BUYING

THE EFFECT OF CZECH CONSUMERS’ SOCIODEMOGRAPHIC CHARACTERISTICS ON FAIRTRADE GOODS BUYING
(THE EFFECT OF CZECH CONSUMERS’ SOCIODEMOGRAPHIC CHARACTERISTICS ON FAIRTRADE GOODS BUYING)

  • Author(s):Linda Plaváková, Ondřej Částek
  • Language:English
  • Subject(s):Behaviorism, Demography and human biology, Socio-Economic Research
  • Page Range:231-248
  • No. of Pages:18
  • Keywords:fair trade; sociodemographic characteristics; buying behavior; empirical research; Czech Republic;
  • Summary/Abstract:Ethical consumerism is a growing field. It attracts increasingly more attention not only from the supply and demand sides, but also from researchers. Numerous surveys are trying to describe consumers’ behavior, many studies are trying to identify and analyze what contributes to the higher ethical consumption. Yet, we can claim that in the case of the Czech Republic, though ethical consumerism is not really a terra incognita here, the evidence is still not comprehensive. This paper therefore aims to fill a gap in the understanding of Czech Fairtrade goods consumers. Namely, the sociodemographic characteristics and their effect on Fairtrade goods consumption will be examined. The results show that women tend to buy Fairtrade goods more often. University educated and younger consumers more often decide to buy Fairtrade goods, but once they decide so, the effect on the frequency of their purchases is not very clear. It is also possible that the effect of age is only spurious.
IMPORTANCE OF INCORPORATING PROFESSIONAL EDUCATION INTO ORGANISATIONS’ LONG-TERM STRATEGIES

IMPORTANCE OF INCORPORATING PROFESSIONAL EDUCATION INTO ORGANISATIONS’ LONG-TERM STRATEGIES
(IMPORTANCE OF INCORPORATING PROFESSIONAL EDUCATION INTO ORGANISATIONS’ LONG-TERM STRATEGIES)

  • Author(s):Pavel Pudil, Lenka Komárková, Irena Mikova
  • Language:English
  • Subject(s):Business Economy / Management, Human Resources in Economy, Sociology of Education
  • Page Range:249-255
  • No. of Pages:7
  • Keywords:human resource management; professional education; long-term strategy plans; evaluating impact of education;
  • Summary/Abstract:The paper concerns the investigation how important is for organisations to have further professional education incorporated into the organisation’s long-time strategy plan. A questionnaire containing questions related to the subject of research was distributed to a number of organizations. The analysed sample consisted of 115 organizations, both profit and non-profit ones. Statistical methods for categorical data, particularly Pearson’s chisquaredtest of independence and two-sample proportion test, were used to fulfil the objective of research. The results of this paper show that incorporating education into the long-term strategy is clearly connected with a higher rate of measuring and evaluating impacts of education. As shown in our previous research, this leads to using more effective methods of further education and thus to more effective use of financial means that organisations devote to education and training of their employees. The recommendation following from the results is that organisations should incorporate further education into their long-term strategies and HRM plans as this is clearly connected with higher investments of organisations into further education, thus also with the increased organisations’ performance.
EMPLOYEES’ COMPETENCIES DEVELOPMENT DEPENDING ON THE IMPLEMENTATION OF NEW FORMS OF MARKETING COMMUNICATION

EMPLOYEES’ COMPETENCIES DEVELOPMENT DEPENDING ON THE IMPLEMENTATION OF NEW FORMS OF MARKETING COMMUNICATION
(EMPLOYEES’ COMPETENCIES DEVELOPMENT DEPENDING ON THE IMPLEMENTATION OF NEW FORMS OF MARKETING COMMUNICATION)

  • Author(s):Lukáš Smerek
  • Language:English
  • Subject(s):Business Economy / Management, Marketing / Advertising, Human Resources in Economy
  • Page Range:256-263
  • No. of Pages:8
  • Keywords:marketing communication; human resources; competencies; development; Slovak enterprises;
  • Summary/Abstract:Marketing, just like other enterprise processes, evolve over time. We have witnessed the establishment of new marketing tools and approaches in all aspects of the marketing mix in recent years, including marketing communication. The article examines the need for the employees’ competencies development in case the enterprise decides to implement new forms of marketing communication. The employees’ competencies development is the subject of research, while selected Slovak enterprises are the object of research. The research is based on a questionnaire survey divided into two sections. The first one identifies enterprises that use some of the new forms of marketing communication. Only those enterprises then answer the questions about the needs for employees’ competencies development. The main contribution of this paper is to highlight the need for human resources development in the implementation of new marketing approaches and identification of specific areas where human resources need to keep up with modern trends.
ORGANIZATIONAL ROUTINES, LEVELS, TYPES AND ASPECTS

ORGANIZATIONAL ROUTINES, LEVELS, TYPES AND ASPECTS
(ORGANIZATIONAL ROUTINES, LEVELS, TYPES AND ASPECTS)

  • Author(s):Sylwia Stańczyk
  • Language:English
  • Subject(s):Management and complex organizations
  • Page Range:264-272
  • No. of Pages:9
  • Keywords:routines levels; routine types; routine aspects;
  • Summary/Abstract:A lot of researchers have done a lot of research concerning on definition of routines. They also have been proposed quite dissimilar approaches representing the levels, types, and aspects of organizational routines. This review paper concerns on salient area of research exposing the importance of organizational routines. The main aim of the presented review is to collect and synthetize research results uncovering specific levels, types, and aspects in the routines’ domain. On the basis of extensive studies concerning routines research in this paper it has been proposed a systematization of routines. The stream of research regarding routines is rich in different groupings of the construct. Hence the main concern of the paper is to systematize diverse approaches in this context as to provide epistemological and methodological outcomes differentiating routines’ levels, types, and aspects. The paper is a review one. The results presented here are of value for future research in this stream of studies and can be treated as a starting point in researching routines in any field.
THE EFFICIENCY OF THE VALUE CREATION MODEL IN THE MANUFACTURING INDUSTRY IN THE CZECH REPUBLIC

THE EFFICIENCY OF THE VALUE CREATION MODEL IN THE MANUFACTURING INDUSTRY IN THE CZECH REPUBLIC
(THE EFFICIENCY OF THE VALUE CREATION MODEL IN THE MANUFACTURING INDUSTRY IN THE CZECH REPUBLIC)

  • Author(s):Petr Suchánek, Martin Štěrba
  • Language:English
  • Subject(s):Business Economy / Management
  • Page Range:273-283
  • No. of Pages:11
  • Keywords:value creation model; EVA ratio; financial analysis; performance; manufacturing industry;
  • Summary/Abstract:The subject of this article is determining the efficiency of the Value Creation Model (VCM) in the manufacturing industry in the Czech Republic. The aim of the article is to identify and compare the ability of VCM to distinguish companies creating value or destroying value in the manufacturing and food industries. VCM has been designed on the research basis of food enterprises, where its explanatory power is very good. The question then becomes: what explanatory power does it have in other sectors? To determine and compare predictive ability, VCM values will be calculated for selected companies from the manufacturing industry and on that basis enterprises will be classified as enterprises creating or destroying value or enterprises in the so-called grey zone. The EVA ratio will be also calculated for the same enterprises and used to divide them into enterprises creating and destroying value. Finally, the consensus of classification by the VCM index and EVA will be determined for enterpriseswithin the sector and this will be compared with the level of agreement in food enterprises, which will serve as a control sample. So the efficiency of VCM within selected sectors will be determined and at the same time it will be possible to compare this efficiency between these sectors.
ELECTRONIC RECORDS OF SALES AND IT’S COSTS FOR THE COMPANIES IN THE CZECH REPUBLIC

ELECTRONIC RECORDS OF SALES AND IT’S COSTS FOR THE COMPANIES IN THE CZECH REPUBLIC
(ELECTRONIC RECORDS OF SALES AND IT’S COSTS FOR THE COMPANIES IN THE CZECH REPUBLIC)

  • Author(s):Libuše Svobodová, Martina Hedvičáková, Marta Martinová
  • Language:English
  • Subject(s):Business Economy / Management, Accounting - Business Administration
  • Page Range:284-292
  • No. of Pages:9
  • Keywords:electronic records of sales; costs; implementation; traders;
  • Summary/Abstract:This article aims to evaluate the main costs that are connected with implementation and use of the Electronic records of sales (hereinafter referred to as EET) in the Czech Republic. We will focus on the business environment of the small enterprises. The costs will be calculated for small traders. EET obligation was compulsory established for all legal entities doing business in the country. EET system is starting in four stages. The first stage (started 1.12.2016) covered the restaurants and hotels. The second stage (started 1.3.2017) covered approximately 250 thousand of traders. Especially for these companies will be an analysis done. Technical solutions can also be used for other business activities. Final third and fourth stage of the introduction of EET will cover the rest of legal entities in the Czech Republic (will start 1.3.2018 and 1.6.2018). During processing this paper were used professional resources but also the information from various providers of technical solutions EET. Even though the fact that the state contributes in the first year a one-off tax relief for EET in the amount of CZK 5,000, the cost of acquisition and use of technology are usually already in the first year higher than the one-off tax relief. In subsequent years of use, the operation of technologies the entrepreneurs already finance by themselves.
IT CHALLENGES OF HUMAN RESOURCE MANAGEMENT FOR GENERATION Y

IT CHALLENGES OF HUMAN RESOURCE MANAGEMENT FOR GENERATION Y
(IT CHALLENGES OF HUMAN RESOURCE MANAGEMENT FOR GENERATION Y)

  • Author(s):Jana Školudová
  • Language:English
  • Subject(s):Business Economy / Management, Human Resources in Economy, ICT Information and Communications Technologies
  • Page Range:293-299
  • No. of Pages:7
  • Keywords:human resource management; information technology; enterprise social network;
  • Summary/Abstract:In today's business world, the biggest trend in HR is the digitization work. This has a positive impact on efficiency and economic results of the company, as well as the entire HR and employee satisfaction. This trend is also related to use of internal social networks. IT solution enables connectivity and replacing time-consuming manual or administrative tasks efficient, automated processes, allowing workers to focus on key areas such as strategy, new ideas, and mutual cooperation. The aim of this paper is to determine whether Enterprise Social Network positively affects Human Resource Management for generation Y. The primary research was focused on finding the requirements of Generation Y on the workplace. Secondary research was focused on the influence of Enterprise Social Network for HRM in the company, predominantly in the area of cooperation between employees and employee satisfaction. The methodology of this paper is based on a comparative qualitative research, based on the questionnaire survey. The results of the research point to the trend of using modern information technologies in HRM.
BENEFITS AND RISKS OF THE IMPLEMENTATION OF THE CONCEPT OF FREEDOM AT WORK

BENEFITS AND RISKS OF THE IMPLEMENTATION OF THE CONCEPT OF FREEDOM AT WORK
(BENEFITS AND RISKS OF THE IMPLEMENTATION OF THE CONCEPT OF FREEDOM AT WORK)

  • Author(s):Dáša Václavíková
  • Language:English
  • Subject(s):Business Economy / Management, Management and complex organizations, Human Resources in Economy
  • Page Range:300-307
  • No. of Pages:8
  • Keywords:freedom; freedom at work; human resources; questionnaire;
  • Summary/Abstract:The essence of the concept of freedom at the work derives from the possibility for employees to work in an environment in which they can fulfill their potential and creativity, participate on the progress of the organization and through the achievement of their objectives to meet the organization's objectives. Freedom at work is an opportunity for employees to organize their working time and work tasks in their own discretion, while respecting the business rules and other employees. If employees understand the meaning of their work, they work responsibly, quickly and efficiently. The aim of this paper is to present the results of the analysis of the benefits and risks of the concept of freedom at work based on secondary and primary research. Paper focuses on the positive benefits of the application of the concept of freedom at work, such as employee satisfaction and employee engagement, but also on the risks of applying this concept, such as the possibility for abuse of the conferred powers and freedom and a reduction of employee productivity. The paper presents the results of a questionnaire survey in Slovak companies conducted on a representative sample of businesses..
PREFERRED METHOD OF ACQUIRING INFORMATION BY MASS EVENT PARTICIPANTS

PREFERRED METHOD OF ACQUIRING INFORMATION BY MASS EVENT PARTICIPANTS
(PREFERRED METHOD OF ACQUIRING INFORMATION BY MASS EVENT PARTICIPANTS)

  • Author(s):Joanna Woźniak
  • Language:English
  • Subject(s):Media studies, ICT Information and Communications Technologies
  • Page Range:308-315
  • No. of Pages:8
  • Keywords:mass events; promotional activities; survey;
  • Summary/Abstract:The principal objective of this publication is to determine the preferred method of acquiring information by mass events participants. The survey was conducted on the group of 1,520 individuals that participated in XXII Rzeszow Juwenalia, the largest student project implemented in the South-East of Poland. Rzeszow Juwenalia is the perfect example of a mass event, which, on average, is participated by 25,000 individuals present on the campus. For the analysis of data, the STATISTICA 12 program was applied. Conducting the survey made it possible to determine the marketing activities which will reach the target group most effectively. The following ones were included: social media, a web page of the event, acquiring information from acquaintances, and also visiting a web page of the event. In accordance with the opinion of the authoress, the results of the research may be applied in practice, and constitute a valuable guideline for the future organizers of mass events.
SOCIAL HOUSING COSTS

SOCIAL HOUSING COSTS
(SOCIAL HOUSING COSTS)

  • Author(s):Viliam Záthurecký
  • Language:English
  • Subject(s):Financial Markets, Socio-Economic Research
  • Page Range:316-327
  • No. of Pages:12
  • Keywords:residential housing; property prices; building activity; price regulation and deregulation;
  • Summary/Abstract:The paper discusses the growth of building activity of the residential housing and property prices on the example of City Brno following the abolition of regulated rents for rental housing in the Czech Republic. Thanks to the abolition of rent control by the state, real estate prices have increased several times over the past 25 years. The demand for high quality housing and its increase could be explained by several factors such as changing of socioeconomic behaviour, rising incomes, competition, the banking sector, and low interest rates. Methodologically attention has been stressed to analysed results from secondary data from our own research in the environment of housing with an emphasis on the City Brno. Results of the survey will be used also for municipal and government authorities to limit unnecessary regulation in the surveyed sector.
GROWTH OF A NEW MARKET: INNOVATION IN SPACE INDUSTRY

GROWTH OF A NEW MARKET: INNOVATION IN SPACE INDUSTRY
(GROWTH OF A NEW MARKET: INNOVATION IN SPACE INDUSTRY)

  • Author(s):Petr Zimčík
  • Language:English
  • Subject(s):Business Economy / Management, Economic development
  • Page Range:328-338
  • No. of Pages:11
  • Keywords:space industry; spaceX; innovation; reusability;
  • Summary/Abstract:Most of the economists consider transportation services to be linked to trains, trucks, planes or freighters. They neglect an important mean of transportation, without which we cannot imagine present world, space industry. Aim of this paper is therefore to characterize a specific market, which is heavily regulated. Focus is set on Space Launch Industry, which use heavy rocketry to send satellites and other cargo to space. This paper contains a case study of a relatively new company in this industry, Space Exploration Technologies Corporation, better known as SpaceX, which substantially invested in reusability of their rockets. This innovation, when fully implemented, should drastically cut launch costs for their customers and be a game-changer of this market full of monopolistic government contractors.
IMPACT OF IMPLEMENTATION OF ISO 9001 REQUIREMENTS ON STREAMLINING OF PROCESSES INTEGRATION IN THE SUPPLY CHAIN FROM A PERSPECTIVE SMALL AND MEDIUM-SIZED ORGANIZATIONS

IMPACT OF IMPLEMENTATION OF ISO 9001 REQUIREMENTS ON STREAMLINING OF PROCESSES INTEGRATION IN THE SUPPLY CHAIN FROM A PERSPECTIVE SMALL AND MEDIUM-SIZED ORGANIZATIONS
(IMPACT OF IMPLEMENTATION OF ISO 9001 REQUIREMENTS ON STREAMLINING OF PROCESSES INTEGRATION IN THE SUPPLY CHAIN FROM A PERSPECTIVE SMALL AND MEDIUM-SIZED ORGANIZATIONS)

  • Author(s):Dominik Zimon
  • Language:English
  • Subject(s):Business Economy / Management, Micro-Economics
  • Page Range:339-349
  • No. of Pages:11
  • Keywords:SMEs; supply chain; cooperation; quality management;
  • Summary/Abstract:The main objective of this publication was to investigate the influence of standardized quality management system according to ISO 9001 on the improvement of cooperation in the supply chain from the point of view of small and medium-sized organizations. The study was conducted in April 2016 using a technique online survey. Surveys were sent to a group of 80 small and medium-sized organizations carrying out their activities in the southern Polish. For the analysis classified 18 correctly completed questionnaires survey. In the study group there were 7 small and 11 medium-sized organizations. Analysis of the results showed for positive relationships between the implementation of ISO 9001 and integration with suppliers.
STRATEGIES FOR ASSETS FINANCING IN COMPANIES OPERATING IN BRANCH GROUP PURCHASING ORGANIZATIONS

STRATEGIES FOR ASSETS FINANCING IN COMPANIES OPERATING IN BRANCH GROUP PURCHASING ORGANIZATIONS
(STRATEGIES FOR ASSETS FINANCING IN COMPANIES OPERATING IN BRANCH GROUP PURCHASING ORGANIZATIONS)

  • Author(s):Grzegorz Zimon
  • Language:English
  • Subject(s):Business Economy / Management, Economic policy, Accounting - Business Administration
  • Page Range:350-358
  • No. of Pages:9
  • Keywords:strategy; sources of financing; a group purchasing organization;
  • Summary/Abstract:Companies that operate in the market and want to develop need to run an effective policy of assets financing. Managers can choose their own or foreign financial sources. A properly developed financial strategy has a big impact on liquidity and profitability. A big problem for managers is to create a strategy that is not expensive and guarantees the financial security. Operation in a group purchasing organization gives a possibility of creating such a strategy as the specificity of operations in the framework of branch purchasing groups modifies the classic strategies. The aim of this article is to present a strategy for the financing of assets in companies operating in the branch purchasing groups. Thirty-two commercial companies operating in two Polish purchasing groups were analyzed. The research was carried out on the basis of the financial statements for 2013-2015. The selected financial ratios were used for the analysis. The analysis showed that the strategies of financing the assets were used in companies forming branch group purchasing organizations.
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