Innovation Management, Entrepreneurship and Sustainability (IMES 2018)

The Impact of Entrepreneurship Training Program on Russian Students’ Intention towards Entrepreneurship

The Impact of Entrepreneurship Training Program on Russian Students’ Intention towards Entrepreneurship
(The Impact of Entrepreneurship Training Program on Russian Students’ Intention towards Entrepreneurship)

Author(s):Abid Abidullah
Language:English
Subject(s):Social Sciences, Economy
Page Range:18-25
No. of Pages:8
Keywords:Entrepreneurship training programs; entrepreneurship education;university students;
Summary/Abstract:Purpose: The purpose of this research was to study the change in intention of Russian university students towards alternate career choice, to be an entrepreneur and start a business after attending the entrepreneurial training program. Design/methodology/approach: In methodology non-probability quantitative design convenience sampling were used for the study. The collected data were evaluated through Statistical package for the social sciences by running descriptive statistics and paired t-test to interpret the impact of entrepreneurship training program. Findings: The results show the positive impact of entrepreneurship training programs on university students’ intention towards entrepreneurship. The impact was also detected in the attitude of the students towards entrepreneurship. Practical implications: Providing only business managing skills and producing job seekers may create burden on economy of a country. To be entrepreneur youth may create not only job for themselves but for other as well. The study may bring the attention of educators, policy makers and authorities to give proper space to entrepreneurship concept in the education system. The students who will be entrepreneurs in the future will not only contribute in the development of the economy but will solve society's problems in entrepreneurial and innovative way. Quality/value: A small contribution to the literature of short entrepreneurship training program impact on students’ entrepreneurial intention. Further the study also contributes to present the outcomes of entrepreneurship training program testing Theory of planned behaviour.

E-Learning Support for New Product Development Students Teams

E-Learning Support for New Product Development Students Teams
(E-Learning Support for New Product Development Students Teams)

Author(s):Cătălin-George Alexe, Bogdan Țigănoaia, Alexandra Ioanid, Dana Corina Deselnicu, Valentin Mănescu
Language:English
Subject(s):Social Sciences, Economy
Page Range:26-37
No. of Pages:12
Keywords:Entrepreneurship; platforms; new product development - NPD
Summary/Abstract:Purpose: The purpose of the paper is to present a case study about the use of E-learning platforms to support entrepreneurship spirit and form initiatives among students for new products development. The secondary objective of this research is to present a comparative analysis based on some common criteria such as given functionalities, technical characteristics, quality of graphical interface, of the main platforms which promote the concept of new product development (NPD) by offering their users access to free information about the steps of the product development process. Design/methodology/approach: The paper used bibliographic research and comparative analysis of the NPD platforms. The methodology also included a quantitative research which examined the ways in which the main entrepreneurial preoccupations of the students at Politehnica University of Bucharest are being directed towards the development of industrial products and services. The target group for this analysis consisted in more than 139 students (the majority having less than 25 years old) from Politehnica University of Bucharest. Findings: This study compares the available chosen NPD platforms based on pre-defined criteria and concludes on their most important and helpful characteristics. Also, the findings of the field research detail the use of E-learning platforms to support the entrepreneurship spirit of the students of Politehnica University of Bucharest. Research/practical implications: This research provides a significant contribution to the future development of a didactic product development platform which will support the teaching/learning process of the students at one of the largest technical university in Romania - Politehnica University of Bucharest. The didactic NPD platform will support the self-learning process of students and will provide its users with access to quality information and advice regarding the product development process, also promoting innovation, research and development-oriented entrepreneurship. Originality/value: The added value of the present research is twofold: it provides an up-to-date comparison and analysis of some of the online platforms dedicated to the new products development and emphasizes the perceptions and challenges of students having entrepreneurial preoccupations regarding the use of online platforms on NPD.

Approved Model of Factors, Influencing the Management Process in Developing New Products

Approved Model of Factors, Influencing the Management Process in Developing New Products
(Approved Model of Factors, Influencing the Management Process in Developing New Products)

Author(s):Diana Antonova, Bozhana Stoycheva
Language:English
Subject(s):Social Sciences, Economy
Page Range:38-54
No. of Pages:17
Keywords:Innovation process; new products development; factor analysis; manufacturing industry; innovation models
Summary/Abstract:Purpose: The aim of this study is to identify the major groups of factors that influence the management process of new product development (NPD) for the purpose of its improvement in industrial enterprises. The main tasks are related to the development and approbation of a basic factor model, representing the dependent groups of variables with a significant influence on the process of developing new products in the manufacturing industry - a strategic sector in Bulgarian industry. Research/practical implications: The results of this research are applicable to medium and large industrial enterprises in order to improve the methodology of management process in all its stages of product innovation development. Design/methodology/approach: Empirical data are collected based on a survey, conducted through interview of respondents from medium and large industrial enterprises. Out of 559 organizations, operating in the Manufacturing sector until 2017 (according to data from the National Statistical Institute of Bulgaria), 234 enterprices have taken part in the servey, which makes for 63% activity level of the sample. Furthermore, in the final stage representatives of the surveyed organizations took part in approving the model through expert assessments. The data obtained have been processed by applying descriptive statistics, correlation and regression analysis to look for dependencies between the variables which have been studied. Findings: As a result of the analysis it has been established that the success of the NPD management process is influenced by main factors, such as implementation of target strategy for new product activities and formalising of the NPD process. Other such factors are resource, investment, and technology support provided by senior managers; using mixed working teams of different functional areas; and implementation of specific marketing, research, technological and management tools. Research/practical implications: This article presents the results from a study, related to identifying key factors influencing the management of the product innovation process. Based on the analysis and approval of the model, it can be concluded that solving the difficult tasks of differentiating, systematizing and ranking factors essential for the product innovation process provides valuable and specific grounds for assisting the successful management process of NPD. The results of the analysis could help industrial organizations not only in the manufacturing, but also in other sectors to improve the NPD management process. Originality/value: The aim of the article is to provide methods and adapted good practices, which would help industrial enterprises to improve the process of managing NPD by revealing the factors leading to the success of product innovations. The approval of the model justifies the need of a systematic approach and cross-functional participation of multifunctional teams throughout the life cycle of the innovations under consideration.

How Knowledge Intensive Business Services Foster Entrepreneurial Dynamics and Macroeconomic Perfomance in European Economies?

How Knowledge Intensive Business Services Foster Entrepreneurial Dynamics and Macroeconomic Perfomance in European Economies?
(How Knowledge Intensive Business Services Foster Entrepreneurial Dynamics and Macroeconomic Perfomance in European Economies?)

Author(s):Daniel Badulescu, Alina Badulescu, Sebastian Şipoş-Gug, Anamaria Diana Herte
Language:English
Subject(s):Social Sciences, Economy
Page Range:55-65
No. of Pages:11
Keywords:Knowledge-based services; entrepreneurial activity; macroeconomic indicators; European Union
Summary/Abstract:Purpose:The knowledge and innovation-basedeconomy is internationally accepted as a key factor for competitiveness, and the European Union, which is constantly searching for competitiveness, has recognized more than two decades ago the role and importance of Knowledge Intensive Business Services (KIBS) in transferring innovations and competences to all sectors of the economy, as sources of innovation and modernization, diversification and dynamism for entrepreneurial activities. In this context, we intent to investigate the complex relationship between KIBS and entrepreneurial dynamics, including terms of macroeconomic effects (GDP and labor productivity). Design/methodology/approach:As an indicator of KIBS density it was used the share of companies from the KIBS sector in the total number of active companies, every year, for each country in the study. The data was obtained from EUROSTAT and it covers the EU27 member countries over the 2008-2012 period using NACE Rev. 2 classification system. Findings:The analysis provided interesting, complex andsometimes surprising results. Thus, partly offsetting expectations, we did not find that the share of KIBS firms stimulated entrepreneurial activity (as new firms creation), but that they are, however, a factor preventing discontinuity of the companies and, under certain conditions, a factor driving to increasing labor productivity in the EU economy. Research/practical implications:We found out that the impact of KIBS on the entrepreneurial activity at the level of the 24 European Union’s member state is mostly indirect. Moreover, we consider that although no evidence was found that the share of KIBS companies in the total number of active companies is directly fostering the entrepreneurial activity, the density of KIBS has been proved to be a factor preventing the closure or discontinuing of the companies, as well as a factor leading to increased labor productivity. Originality/value:The paper brings evidence and bridges the existing gap regarding the role of a very innovative sector of the economy, namely the KIBS sector, and argues the necessity for public policies to foster the development of these activities.

Innovative Approach to a Specific Area of Career Management in the Czech Armed Forces

Innovative Approach to a Specific Area of Career Management in the Czech Armed Forces
(Innovative Approach to a Specific Area of Career Management in the Czech Armed Forces)

Author(s):Kristýna Binková
Language:English
Subject(s):Social Sciences, Economy
Page Range:66-76
No. of Pages:11
Keywords:Career; outplacement; soldiers; army
Summary/Abstract:Purpose: The aim of the paper is to briefly present the theoretical basis of career management issues and difficulties of placement of professional soldiers in the labour market, outline the current state of the specific area of career management in the Czech Armed Forces, describe the system of preparation of soldiers for a second career in Czech Republic and Poland and find preferences related to this topic ofa selected group of soldiers. Finally, propose measures for the innovation of the existing career management in the Czech Armed Forces.Design/methodology/approach: The theoretical basis was found based on the study of professional literature. An analysis oflegislative, conceptual and statistical documents was carried out to describe the current situation in the Czech Republicand two semi-structured interviews with a representative of the Warsaw Professional Activation Centreheld to describe the system used in Poland. The discovery of attitudes towards outplacement forms used by the Defence Department of Poland allowed a sociological survey of 86 professional soldiers in active service.Findings: In the Czech Republic, there is currently no elaborate system for the preparation of soldiers for the second career. Soldiers perceive integration to a civilian sector after the termination of military service as problematic. The outplacement system in the Polish armed forces is highly sophisticated, consists of several measures and can therefore serve as a good example. 86 respondents, professional soldiers, attendants of a course of senior officers evaluate the forms of support used in Poland positively. Soldiers would welcome coaching, group seminars job fairs, internships and vacancies at public sector organizations. Research/practicalimplications: From the results it is possible to deduce concrete measures for the managing and coordinating bodies of the Ministry of Defence,such as The Sections of the State Secretary of the Ministry of Defence and the Personnel Agency of the Army of the Czech Republic. Should some measures be approved, the next phase would be specifically carried out by personnel of military units and other external staff. Further research should be carried out withsoldiers in lower rank corps in order to provide a more comprehensive view of the issue.Originality/value: The main contribution and added value of the paper is the opening of under-researched and in debates at the level of Ministry of Defence often absent relationship between management of innovations in human resources management and management of second career of soldiers. The paper brings opinions and preferences of a representative sample of attendants of a course of senior officers related to thisoften-neglectedarea of career management. The preparation of soldiers for their post-military life is problematic and changes should be made. The good practice of the Polish defence may be followed.

Dimensions of Internationalisation. Entering Foreign Markets by Companies Located in Polish Technology Parks. Firm Level Studies

Dimensions of Internationalisation. Entering Foreign Markets by Companies Located in Polish Technology Parks. Firm Level Studies
(Dimensions of Internationalisation. Entering Foreign Markets by Companies Located in Polish Technology Parks. Firm Level Studies)

Author(s):Mateusz Błaszczyk, Leszek Kwieciński, Marek Wróblewski
Language:English
Subject(s):Social Sciences, Economy
Page Range:77-87
No. of Pages:11
Keywords:Companies internationalization; technology parks; small and medium enterprises
Summary/Abstract:Purpose:The presentation addresses the question of internationalizationof tenant firms of Polish technology parks. This issue is discussed in terms of scale, determinants, andforms of companies entering foreign markets. The analyses are aimed to identify the differentiationin the ways of internationalizationas well. Design/methodology/approach: The holistic appr to the phenomenon of internationalizationhas beeplied. It was considered as not only in terms of trade activitiesbut also international capital ties, cooperation in R&D and the exchange of human resources.The data comes from quantitative research carried out with the managers of the firms located in Polishtechnology parks. Due to the parks functions,one may treat the population of such companies as a kind of avant-garde of knowledge economy with a special potential for internationalizationtheirsbusiness activity. The random sample of 300 was surveyed. Findings: The research results showthat internationalizationconcerns about half of the surveyedfirms. The factors that stimulate the internationalizationof enterprises are the levels of innovation, market experience and the use of public support. The analysis of forms of internationalizationallowed to develop six relatively independent dimensions of business activity on foreign markets: traditional –directs, traditional –intermediated, within the paradigm of the knowledge-based economy, direct foreign investments and pre-internationalisation. The various forms of trade remain the dominant way of activity on foreign markets, however,participation in the international knowledge exchange and preparation for entering the external markets. Research/practical implication: The research outcomes may be useful both for companies that establish theirinternational activity and for the managers of business environment institutions that supportthe development and internationalizationof economic entitles. Results of this paper could be useful also for policy-makers who create and evaluate the efficiency and effectiveness of the role of the technology parks as a tool of the public pro-innovation policy. Originality/value: The presentation describes original research which is the first attempt of a comprehensive studyon internationalizationof tenant enterprises of technology parks.

Study on the Costs and Benefits of Implementing Wind Energy in the Western Region of Romania

Study on the Costs and Benefits of Implementing Wind Energy in the Western Region of Romania
(Study on the Costs and Benefits of Implementing Wind Energy in the Western Region of Romania)

Author(s):Oana Bogdan, Aura Emanuela Domil, Dorel Mateș, Moise Domil, Alin Emanuel Artene
Language:English
Subject(s):Social Sciences, Economy
Page Range:88-100
No. of Pages:13
Keywords:Cost of wind energy; wind farms; benefits of clean source; renewable source and zero emissions; Western Region of Romania
Summary/Abstract:Purpose:This paper presents an overview of the main costs and benefits of the implementation ofwind energy in the Western Region of Romania. Various studies are available in the literature on the costs and benefits of wind energy, but our paper isfocused on therelationship between the main costs and benefits of wind energy and the perceptions of professionals who activate in the energy field about the advantages and disadvantages of using this alternative source of energy in the WesternRegion of Romania. The aim of the research was to investigate whether the benefits of implementation exceed costs and if professionals who activate in this field are aware of the importance of green energy and especially wind energy. Design/methodology/approach:In order to accomplish this research, we carried out in a quantitative approach, assuming measurement of respondents' perception, so the research paradigm is positivist-functionalistic.The answers of thequestions are analyzed with the Likert scale with 5 levels of appreciation, from 1-5, as follows: 1 = in very littlemeasure, 2 = in little measure, 3 = in average measure, 4 = in large measure, and 5 = in very largemeasure, which will show us the perception of the respondents about the benefits and costs of implementing wind energy, being able to determine the cost -benefit ratio. Research/practical implications:Following the study, there is an awareness of the importance of usingregenerative sources and supporting the costs of developing wind farms. The reduction ofgreenhouse gases (GHG) emissions and the use of regenerative sources contributes to theachievement of the 20/20/20 European objective. Originality/value: Presented paper contributes to the knowledge of the costs and benefits of wind energy farms in the Western Region of Romania.

Challenges Related to the Digital Transformation of Business Companies

Challenges Related to the Digital Transformation of Business Companies
(Challenges Related to the Digital Transformation of Business Companies)

Author(s):Miroslava Boneva
Language:English
Subject(s):Social Sciences, Economy
Page Range:101-114
No. of Pages:14
Keywords:Digital transformation; types of challenges of digital transformation; algorithm for digital business transformation
Summary/Abstract:Purpose:This paper aims to discuss the challenges, which the companies clash with in relation with the digital transformation and topropound a model to overcome them. Design/methodology/approach:The literature review of scientific papers is used for researching the essence of the digital transformation, the reasons which engender it and the challenges related to its implementation in the business companies. Findings:As a result of the discussion: (1) the challenges which are related to the digital transformation have been systematized and (2)it has been adduced, that the digital transformation is implemented according to an algorithm, that starts with a digital audit, continues with developing of a strategy, setting of measurable aims, prioritization, assessment of the effect achieved by measuring the results and it “concludes” with proposals of improvements. Research/practical implications: The types of challenges of digital business transformation have been established and a grounded sequence of processes for accomplishment of digital transformation has been presented. When the managers know potential dangers, they could avoid or neutralize the unfavourable consequences. The algorithm for the implementation of digital business transformation could support the participants in this undertaking.Further research has been suggested, through which to validate the algorithm for digital business transformation in companies of different sectors. Originality/value: A systematization of challenges, faced by the business companies in the course of the digital business transformation has been made. A theoretical model of the algorithm for digital business transformation has been developed.

Smartainability and Mobility Strategy: The Case of Belgian Localgovernments

Smartainability and Mobility Strategy: The Case of Belgian Localgovernments
(Smartainability and Mobility Strategy: The Case of Belgian Localgovernments)

Author(s):Djida Bounazef Vanmarsenille, Nathalie Crutzen
Language:English
Subject(s):Social Sciences, Economy
Page Range:115-127
No. of Pages:13
Summary/Abstract:Purpose:In order to be smarter and more sustainable, local governments have to face urban mobility challenges. Even if they integrate sustainable and smart approaches, local governments meet obstacles to define the adapted combination between smart mobility and sustainable mobility. For this propose, this paper aims at understanding the impact of different combinations on the development of mobility strategies in Belgian local governments. The alternative Venn diagrams of urban mobility developed by Lyons (2016) are used as a theoretical lens to explore the link between smartainability and mobility strategy. Design/methodology/approach:An exploratory case study was used for the propose of this study. The case study utilised semi-structured interviews with mobility managers in ten Belgian local governments. To strengthen the analysis, documentary analysis with a focus on publicly-available reports on sustainability, smart city strategies and urban mobility were collected before and after the interviews. Further, different mobility projects initiated by start-ups and organisations of local governments have been collected during different mobility meetings in Belgium. Findings: Even if there aredifferent combinations between smart and sustainable mobility, the definition of sustainability as a part of smart mobility contributes to develop mobility strategy. This ““smartainable”” alternative encourages transitions to anticipate future challenges. Citizens are initiated to new solutions and are eager to contribute in the development of mobility strategy. All public, private and civil actors collaborate to face sustainability challenges like pollution and CO2 emission. Mobility strategy is then more oriented towards integrated smart mobility platforms. Research/practical implications:The outcomes for practice of this paper is to identify the best combination between smart and sustainable approaches to facilitate the development of strategies in local governments. Moreover, these exploratory case studies offer new insights for future research on the concept of smartainability in strategic axes of smart city such as mobility. Originality/value:Current researches on urban mobility follow either a sustainable paradigm or a smart paradigm. There arefew researches exploring the interdependencies between the two paradigms. In addition, there is no significant researches which explored the link between smartainability and mobility strategy in the context of public sector.

Coevolution of Market De-Globalization and Political Paradigm Shift

Coevolution of Market De-Globalization and Political Paradigm Shift
(Coevolution of Market De-Globalization and Political Paradigm Shift)

Author(s):Hong-Jen C. Chiu
Language:English
Subject(s):Social Sciences, Economy
Page Range:128-142
No. of Pages:15
Keywords:Social ties; organizational resilience; strategic risks; ambidextrous learning
Summary/Abstract:Purpose: Co-evolving market de-globalization and political paradigm shift affect strategic risks. How could wecharacterize the strategic risks faced by MNEs? To address these research issues motivates this paper. We aim atdeveloping a process model of managing strategic risks through the lens of social ties, organizational resilience,and institutional voids. Methodology: This paper employs a conceptual framework development approach for analyzing strategic risksfaced by commodity-based MNEs. The development of this model is line with the internal and externalperspectives of the crisis process (Bundy et al., 2017). Findings: First, there are threshold conditions for the diverse existing political ties, which could open newopportunities for new ties. Second, a firm’s capability for ambidextrous learning contributes to organizationalresilience as a whole. Third, there is an invert U-shape relationship between ambidexterity and cognitivelegitimacyperformance. Finally, we suggest a refinement of “transnational solutions” for MNEs. Research/practical implications: We extend the literature on risk management to take a resilience approach thatemphasizes the great likelihood of joint adverse events in the cyclical commodity economies. Then, our focus onambidexterity in managing strategic ties has implications for enhancing an MNE’s social legitimacy abroad.Finally, our work sheds light on comparable constructs and propositions – i.e., ambidexterity versus “transactionalconfidence-enhancing” mechanisms (Gao et al., 2017). Originality/value: This paper ought to be the first to advance van der Vegt et al.’s (2015) inquiry on howorganizational resilience helps mitigate political risks. Our findings should also add new value to our understandingof the new mission for MNEs – i.e., integrate locally and adapt globally (Santos & Williamson, 2015).

Multimodal Transport as a Sustainable Transport for the Chemical Industry: Primary Qualitative Research

Multimodal Transport as a Sustainable Transport for the Chemical Industry: Primary Qualitative Research
(Multimodal Transport as a Sustainable Transport for the Chemical Industry: Primary Qualitative Research)

Author(s):Jan Chocholáč, Jaroslava Hyršlová
Language:English
Subject(s):Social Sciences, Economy
Page Range:143-153
No. of Pages:11
Keywords:Multimodal transport; chemical industry; sustainable transport; sustainable development
Summary/Abstract:Purpose: Increasing transport performance, more traffic accidents and efforts to respect sustainable developmentmake companies look for optimal transport solutions. The paper deals with the utilization of multimodal transportin the framework of transport of chemical goods in selected Czech Republic chemical industry companies. Theprimary objective of the paper is to map the motivation of the selected chemical industry companies for shiftingthe transport to multimodal transport. Design/methodology/approach: The research was executed in the format of double round primary qualitativeresearch. The sample consisted of chemical industry companies from the Czech Republic that met the followingconditions as of the date of the start of this research: they were members of the Association of Chemical Industryof the Czech Republic, they were production companies that distributed large and significant portions of theirproduction abroad. In the case of the logistic services providers (LSPs) we addressed companies that providedlogistic services to chemical industry companies and had already cooperated with the Association of ChemicalIndustry of the Czech Republic. Findings: Companies participating in this research have significant motivation for higher utilization of multimodaltransport. The main reasons for this are increased volumes of sales and expansion to new markets. Customers‘demands on products transport also gradually change. Reasons for utilization of other transport modes arecontinuing problems in road transport. Participating companies see significant potential in increased utilizationof multimodal transport in the area of continental transports. Such increased utilization would contribute tosignificant improvement of transport situation in Europe and to mitigation of negative impacts of transport on theenvironment and on public health. Research/practical implications: In the framework of this research there have been identified criterions that aredecisive for implementation of chemical goods transportations. For further development of multimodal transport,it is essential to focus on reducing transport costs and transit times and on improving the availability of transportmeans. Originality/value: This paper illustrates, on the example of selected chemical industry companies, the existingstate of affairs in the area of utilization of multimodal transport and it maps the motivation of companies forshifting transport to multimodal transport.

Evaluation of the Current Position of CSR in the Logistics Sector

Evaluation of the Current Position of CSR in the Logistics Sector
(Evaluation of the Current Position of CSR in the Logistics Sector)

Author(s):Simona Činčalová
Language:English
Subject(s):Social Sciences, Economy
Page Range:154-165
No. of Pages:12
Keywords:Corporate social responsibility; logistics; Czech Republic
Summary/Abstract:Purpose:The paper focuses on the evaluation of the current position of corporate social responsibility (CSR) in the logistics sector. Logistics plays a huge role within today ́s economy (an important part of GDP). It reports author ́s findings from a questionnaire survey. The aim of the research is to evaluate the use and scope of CSR implementation in medium and large enterprises operating in the NUTS 2 region, to identify the reasons for non-using of CSR policy in enterprises. Design/methodology/approach:In order to gain the knowledge about using of the CSR concept in business practice, the primary quantitative research was chosen, in which a questionnaire survey was conducted and sent to 70 businesses in September and October 2017. There wasa total of 11questions, both closed, open and semi-open. The data of 29 respondents were supplemented by the theory in this field and documentary analysis, including internal documents, descriptions of internal processes, employee magazine articles. Based on the evaluation of the questionnaire, research questions were answered. Findings: It was found that the most important motive for implementation CSR in a company is according to the surveyed companies “improving the reputation and image”. On the other hand, the biggest obstacle to the introduction of CSR is “lack of time”. This may be related to the lack of qualified staff. The most enterprises ensure the coherence of the CSR concept and the corporate strategy, but do not certificate CSR and are not going to do it. There were also described some CSR activities in three-bottom-line and its measurement. Research/practical implications:Results are relevant for medium and big enterprises in the sector Transport, exactly for top management (as CSR makers). It suggests that concept CSR is one of the ways how to for example improve the reputation of the company. It is needed to link this concept to the business strategy. This topic deserves a future research and there is a great field for potential researchers. Originality/value:The paper complements and extends findings of Czech and foreign studies in this field. There are lots of studies about corporate social responsibility, but this empirical analysis was conducted based on the research gap in the studies related to theCzech Republics ́ enterprises in the logistics sector. This study has an originality value of using primary data collected by the author.

Valuation of a Saas Company: A Case Study of Salesforce.Com

Valuation of a Saas Company: A Case Study of Salesforce.Com
(Valuation of a Saas Company: A Case Study of Salesforce.Com)

Author(s):Benjamin Cohen, Michael Neubert
Language:English
Subject(s):Social Sciences, Economy
Page Range:166-178
No. of Pages:13
Keywords:SaaS; software as a service; corporate valuation; international finance; pay-per-use; price-setting models
Summary/Abstract:Purpose:This paper seeks to identify the critical factors determining the valuation of software as a service (SaaS)companies. This newly created business model, namely software access and licenses as opposed to complete products, renders many evaluation metrics inapplicable. This creates a unique sub-industry of such companies for corporate valuation purposes. Salesforce.com is used as the focal company of evaluation, allowing use of and reference to actual data and prices. This paper aims to evaluate the accuracy and relevancy of specific valuation techniques and identify those best suited for a SaaS company. Design methodology: Individual stock and market index data were collected from publicly available sources. The main stock in focus (CRM = Salesforce.com) was then analyzed using widely accepted evaluation equations, followed by advanced analysis techniques gathered from more recent academic literature and reputable online sources. The findings from these techniques are then discussed to compare valuation estimates as well as applicability towards the SaaS profit model. Findings: This paper provides empirical insights on the impact of SaaS price-setting models on the valuation of firms using a SaaS business model. In contrast to relative valuation methods, cash flow-basedvaluation methods better reflect the impact of pay-per-use price-setting models and growth strategies on corporate valuation. The cash flow being generated by the SaaS firm creates value. The bulk of the valuation comes from the free cash flow growth rate being experienced and the expectation for continued growth in future quarters. These findings confirm our proposed theoretical model describing the strong mutual interdependence of business model, price-setting model, and corporate valuation method of SaaS firms. Research/practical implications:The study results are relevant for researchers, investors, and financial managers of SaaS firms, who need to understand the impact of SaaS price-setting models on the valuation of firms using a SaaS business model and who need to choose the appropriate valuation method. Future scholarly work should include quantitative assessments of additional financial data of salesforce.com and other SaaS firms to provide greater clarification of the statistical significance of the variables of this study or to replicate it with other SaaS firms from different industries and countries. Originality/value:The paper fulfills an identified need and a call for research to study the impact of SaaS price-setting models on corporate valuation using a single case study firm with a SaaS business model and contributes to the research about the influence of SaaS price-setting models on corporate valuation.

Public E-Procurement System for the Small Business Development in Russian Regions

Public E-Procurement System for the Small Business Development in Russian Regions
(Public E-Procurement System for the Small Business Development in Russian Regions)

Author(s):Olga Demushina
Language:English
Subject(s):Social Sciences, Economy
Page Range:179-189
No. of Pages:11
Keywords:E-procurement; small business; governmentsupport; regional development
Summary/Abstract:Purpose:To investigate factors affecting development of public procurement practices with the participation of small businesses, and to analyse characteristics and accessibility of public e-procurement system in Russia for small business development. Design/methodology/approach:To identify main areas for improvement in public procurement our research employed the following methods: factor analysis, multiply regression modelling, expert judgement method. Findings: The most important factors affecting development of public e-procurement practices inregions of Russia: the total public procurement contract value, percentage of firms using the Internet, transparency of public purchases,and number of recorded economic crimes. The analysis of the e-procurement platforms allows to find out the following problems: lack of collaborative tools; mostof the e-platforms are not involved in public procurement; the language and services can be complicated for some participants. Research/practical implications:We can propose some areas of improvement in this field: adoption of measures helping to involve small businesses into public procurement process, creation of new tools for interaction between government agencies providing support to small businesses; enhancement of e-procurement platforms, namely reduction of their number, creation an aggregator Website, development of collaborative tools on the platforms, and simplification of services and tools providing by platforms. Originality/value:The use of a combination of the research tools including economicalstatistical methods and analysis of procurement Web sites allowed to estimate public e-procurement system for small business development in Russia.

Educational Institutions Development: Two Basic Types of Organizational Structure

Educational Institutions Development: Two Basic Types of Organizational Structure
(Educational Institutions Development: Two Basic Types of Organizational Structure)

Author(s):Igor V. Denisov, Alexander L. Bobkov, Oksana V. Kuchmaeva, Oksana V. Savchina
Language:English
Subject(s):Social Sciences, Economy
Page Range:190-200
No. of Pages:11
Keywords:Organizational development; organizational structures; educational organizations; statistical analysis
Summary/Abstract:Purpose:The objective of this study is to prove the hypothesis implies that two types of organizational structures (sequential and parallel) dialectically replace each other, qualitatively changing in the process of organizations’ growth, but at the same time at each new level of development organizations retain their defining properties. Design/methodology/approach: In this context, educational organizations of similar size, as well as having similar (sequential or parallel) organizational structures form homogeneous groups. A common method for determining such groups is cluster analysis for identifying clusters. The secondary data about Czech private educational organizations for the study has beenalsoused. Findings:Cluster analysis revealed 7 clusters and after analyzing the average values of the variables in these clusters weallocatedfive groups. The first group includes75 small private educational organizations with educational services being provided mostly in one place. The second group (37 organizations) consists ofsmall networked educational organizations. The third group (259 organizations)-various educational organizations, usually providing educational services again in one place. The fourth group (3 organizations) includeslarge networked educational organizations. And, finally, the fifth group (3 organizations) -the largest educational organizations, providing educational services in one place. Research/practical implications:The obtained results suggest that the general scheme of the evolution of private educational organizations can be presented as universal. Originality/value:The research results generally confirm the hypothesis. In particular, in the process of conducting the study, significant differences in the effectiveness of the activities of educational organizations of comparable sizes are revealed. This may be due to both the specifics of data records in organizations and the type of educational services provided. The latter hypothesis is confirmed by an additional two-stage cluster analysis for quantitative and qualitative indicators.

Cluster Analysis of PE/VC Market in Central and Eastern European Countries

Cluster Analysis of PE/VC Market in Central and Eastern European Countries
(Cluster Analysis of PE/VC Market in Central and Eastern European Countries)

Author(s):Zbigniew Drewniak
Language:English
Subject(s):Politics / Political Sciences, Economy
Page Range:201-212
No. of Pages:12
Keywords:Private equity; venture capital; cluster analysis; k-means method
Summary/Abstract:Purpose:The aim of the article is to present the PE/VC market in Central and Eastern Europe by country groups, which allows a more comprehensive analysis of it, the perception of investment potential and can help PE/VC funds to understand this diverse area. Design/methodology/approach:The article uses cluster analysis and the k-means method to specify group of countries within CEE region. A similar analysis based on the entire PE/VC market in Europe was presented in research of Grzegorczyk (2015) and Drewniak (2014). Findings:Grouping by the k-means method allowed to distinguish three groups of countries in CEE region characterized by different degree of development of the PE/VC market. The first cluster consists of one country -Poland, which can be considered a leader in terms of PE/VC investment in CEE region. Research/practical implications:Conclusion section presents recommendations for PE/VC funds operating in Europe and interested in investments also in the CEE region. Grouping of numerous countries in this region may create new opportunities for perceiving this market. Originality/value:The added value is the implication of the method that allows to analyse the PE/VC market from the point of view of groups of countries. Thus, it can contribute to increasing interest in investments in the Central Eastern Europe region and increasing its importance in investments compared to the entire European PE/VC market.

Internationalization of Companies Through Strategic Alliance: A Study of Polish Companies

Internationalization of Companies Through Strategic Alliance: A Study of Polish Companies
(Internationalization of Companies Through Strategic Alliance: A Study of Polish Companies)

Author(s):Rafał Drewniak
Language:English
Subject(s):Social Sciences, Economy
Page Range:213-224
No. of Pages:12
Keywords:Strategic alliance; internationalisation; resource-based approach; innovation
Summary/Abstract:Purpose:The purpose of this article is to present the scope and the essence of internationalization of companies through cooperation within the frame of strategic agreements. The presented paper studies the role and the notion of strategic cooperation forinternationalization of companies. The main aim of empirical research was to determine those resources and characteristics of potential partner company which are important from the perspective of internationalisation of companies declaring to cooperate.The discussion is based on an analysis of domestic and international literature references as well as own research. Design/methodology/approach:The study involved 89 companies, belonging to one of the industrial clusters in Poland. The selection of companies for research was deliberate. 70 complete questionnaires were obtained, on the basis of which the conclusions were made with reference to the studied group. The research method was survey with electronic questionnaire as a research tool. It included questions concerning the characteristics of companies and the alliance, as well as an assessment of selected aspects of the agreement. Reliability analysis was done by estimating internal consistency using Cronbach’s alpha coefficient.The scale used in the questionnaire is described in the methodology chapter. Findings: What the researched companies expected the most from the partner companies was to enrich the alliance with experience in operations on foreign markets, knowledge and know-how, especially in the scope of technological resources, as well as to utilise the competitive position of a partner and their well-known brand. The researched companies most frequently selected the following benefits as the ones they gained from entering a foreign market through a strategic alliance: improvement in their competitive position, improvement in their management processes, achieving the effect of the economics of operation, implementation of innovation. Research/practical implications:The existing papers study thetheories and the practical aspects of companies’ internationalization through strategic alliances. It allowed to get closer to the problems of building innovative and competitive potential of a company in the practical sense through the utilisation of resources of other entities within the scope of a strategic alliance. In particular, it includes the following: obtaining crucial resources (especially technological), distribution of operation costs among a larger number of partners and more elastic (faster)adaptation to the changing circumstances of international environment due to attributes, which are desired from potential allies in the context of entering foreign markets. Originality/value:The undertaken issues concern the analysis of the factors determining internationalization of companies through a strategic alliance in the context of attributes of cooperating companies. Other research tends to concentrate on factors, which support or hinder foreign expansion or characterise its effects. Therefore, it is possible to gain advantage on the domestic market, which in turn creates better conditions for improving effectiveness and implementation of innovations.

Evaluation of Modern Technologies so-Called Key Enabling Technologies in Relation to Corporate Sustainability

Evaluation of Modern Technologies so-Called Key Enabling Technologies in Relation to Corporate Sustainability
(Evaluation of Modern Technologies so-Called Key Enabling Technologies in Relation to Corporate Sustainability)

Author(s):Monika Dušková, Alena Kocmanová
Language:English
Subject(s):Social Sciences, Economy
Page Range:225-238
No. of Pages:14
Keywords:Key enabling technologies; corporate sustainability; company performance; technology; innovation
Summary/Abstract:Purpose: The aim of the paper is to present concept of Key Enabling Technologies(KETs), as the modern approach for solving environmental and societal challenges of current society, and to design the evaluation model with indicator structure for complex assessing the contribution of KETsimplementation to company performance. Design/methodology/approach: The objectives are achieved thanks to the concise literature review related to KETsand the current systems of assessment innovations, corporate sustainability and KETs. The descriptive statistics and exploratory factor analysis is applied on the results of preliminary survey within Czech companies dealing with KETs. Then the evaluation model including aspects of corporate sustainability is presented. Findings:The standard model of sustainable development for companies (environmental, social and economic aspects) is completed with technological aspects, crucial for KETs-performing companies. The factors are identified and confirmed by the exploratory factor analysis and the indicators structure is eliminated into the most important variables. Research/practical implications:The practical application of the presented study lies in the design of the evaluation model for companies –practical tool, which can enable the monitoring of their performance in different aspects (not only financial, but also environmental, social and technological) thanks to implementing of KETsinto their production processes. Originality/value:The practical implication of the presented study is to evaluate the benefit of deployment of KETsinto specific companies or industrial sectors, while up to now this evaluation has been regularly monitored only at level of countries (especially Member States of the European Union). The huge importance and related support are dedicated to these technologies, nevertheless their benefitto company performance, competitiveness respectively, has not been studied yet.

Effectsof Public Subsidies on Productivity of Firms in the Czech Food Industry

Effectsof Public Subsidies on Productivity of Firms in the Czech Food Industry
(Effectsof Public Subsidies on Productivity of Firms in the Czech Food Industry)

Author(s):Ondřej Dvouletý, Ivana Blažková
Language:English
Subject(s):Social Sciences, Economy, National Economy, Business Economy / Management, Micro-Economics, Agriculture, Methodology and research technology, Evaluation research, Policy, planning, forecast and speculation, Public Finances, Accounting - Business Administration, Socio-Economic Research
Page Range:239-247
No. of Pages:9
Keywords:Firmproductivity; public subsidies; entrepreneurship policy evaluation; food industry; the Czech Republic
Summary/Abstract:Purpose:The previous studies report ambiguous effects of public subsidies on firm productivity. The aim of the paper was to assess the effects of public subsidies on the productivityof firms that were supported by the Czech Operational Programme Enterprise and Innovation(OPEI) in the EU programming period 2007-2013. Design/methodology/approach:We used the data for 147 supported companies in the Czech food processing industry (72.4% of all beneficiaries within the industry) to calculate four indicators related to the firm productivity, i.e. value added, personnel costs, value added per personnelcosts and production efficiency. We analysed the level and development of selected productivity indicators and then we applied the paired t-test to compare the productivity in the period before the intervention (2005-2007) with the post-programme period (2014-2015). Findings: The obtained results suggest that participation of the Czech food processing companies in the OPEI did not lead to the higher productivity of the supported enterprises, both in terms of labour productivity and production efficiency two years after the end of the intervention. Research/practical implications:The presented findings, therefore, suggest that there is no significant impact of the public support from the OPEI on the productivity of supported enterprises in the Czech food industry. However, it is worth mentioning, that the results must be taken as a preliminarysince we have not accounted for the firm-level characteristics such as firm size. The changes in the productivity indicators might also take more time, and therefore it would be very relevant to investigate the effects also in the long run. Originality/value:The presented study empirically contributes to the knowledge on the relationship between the allocationof the public subsidies and firm productivity from the perspective of the Czech agribusiness sector.

Gender and Divergent Thinking - Implications for Management Executives

Gender and Divergent Thinking - Implications for Management Executives
(Gender and Divergent Thinking - Implications for Management Executives)

Author(s):Karolina Dyrla-Mularczyk, Arkadiusz Borowiec
Language:English
Subject(s):Social Sciences, Economy
Page Range:248-256
No. of Pages:9
Keywords:Creativity; divergent thinking; gender differences
Summary/Abstract:Purpose:The purpose of this paper is to analyze the reports from research on the relationship between divergent thinking and gender, as well as to present the results of own studies verifying the correlation between creativity and gender. Creativity is a highly desired personal competence on the modern labor market, especially due to its key role in the processes of creating innovative solutions. Simultaneously, it is believed that creativity as a trait constitutes basic economic capital. Methodology: The analysis of current reports from scientific research has been conducted on the basis of articles available in Ebsco and Google Scholar databases. The study has been based on the Test for Creative Thinking –Drawing Production -TCT-DP. 80 trainers of soft training participated in the study. The research was guided by the theory of creativity and divergent thinking. Findings:The own research has demonstrated that gender does not determine the level of creativity. However, reports from studies using neuroimaging techniques point to visible differences between levels of creativity in women and men. Practical implications: This article demonstrates that the issue of the relationship between divergent thinking and gender is a complex phenomenon and sensitive to many co-occurring variables. Depending on the research methods used, the results of exploration differ from each other. The results of the survey show that the management should carefully approach gender differences in level of creativity. Gender should not be an argument for the employment of a person for a creative role. Value:The article suggests that the problem of gender differences in terms of creativity is a multi-faceted problem. Gender should not, therefore, determine the scope or nature of tasks entrusted to employees by their supervisors or team leaders.

An Essay on the Entrepreneurial War Machine

An Essay on the Entrepreneurial War Machine
(An Essay on the Entrepreneurial War Machine)

Author(s):Daniel Ericsson
Language:English
Subject(s):Social Sciences, Economy
Page Range:257-265
No. of Pages:9
Keywords:Discourse on entrepreneurship; the war machine; State apparatus; nomadology; essay
Summary/Abstract:Purpose:The purpose is to present and explore Deleuze and Guattari’s (1988) concept of the “war machine” in relation to the academic discourse on entrepreneurship in order to contribute with a nuanced understanding of the discourse’s centrality in contemporary societies as well as its consequences. Design/methodology/approach: The paper is conceptual in character and written in the form of an essay in order to capitalize upon the essay’s tentative and reflective epistemology. Findings: The academic discourse on entrepreneurship conceptualized as a war machine is found to be set up against the State apparatus and resisting State appropriation by 1) deprecating bureaucracy, 2) criticizing normative societal institutions, and 3) self-consciously mobilizing actors into a scholarly movement. The consequences of these forms of resistance are on one hand a discursive colonialization of the natural, and on the other hand the formation of a seemingly strong alloy between the academic discourse on entrepreneurship and neoliberal ideology/political agendas. Research/practical implications:The academic discourse on entrepreneurship conceptualized as a war machine draws attention to the discourse’s taken-for-granted notions about entrepreneurship as well as their consequences. As such the conceptualisation opens up for critical research on otherwise neglected or silenced empirical topics within research on entrepreneurship such as the formation of the academic discourse on entrepreneurship, the enrolment, socialisation, subjection and subjectification of researchers on entrepreneurship, and the discursive tactics of entrepreneurship researchers’ visavi the State apparatus. Originality/value:In line with the essayistic epistemology, the essay hopefully gives the reader the opportunity to reflect upon on neglected or silenced issues within the academic discourse on entrepreneurship.

Entrepreneurial Parents and Networks: Perfect Substitutes or Fickle Friends?

Entrepreneurial Parents and Networks: Perfect Substitutes or Fickle Friends?
(Entrepreneurial Parents and Networks: Perfect Substitutes or Fickle Friends?)

Author(s):Manuel Feldmann
Language:English
Subject(s):Social Sciences, Economy
Page Range:266-276
No. of Pages:11
Keywords:Entrepreneurial networks; intergenerational transmission; self-employment; youth unemployment
Summary/Abstract:Purpose:Parental influence on self-employment rates among their offspring has been the subject of a multitude of studies. Despite many theories on how parental self-employment translates into youth self-employment, researchers rarely tested its interaction with other drivers of self-employment such as networks. The following study investigates these effects, suggests an interpretation of the interaction and tests how robust both are against macro influences. Approach:This study analyzes parental and network influences on self-employment with an original dataset for 11 European countries gathered in 2016 by the collaborative research project CUPESSE. In order to avoid confounding effects, this study builds on theory of planned behavior and supports the notion of entrepreneurial intention as the best proxy for future entrepreneurial engagement. Because of its cross-country structure, macro effects can be tested. According to the structure of the dependent variable, the study applies logistic regression techniques with Stata to identify relevant effects. In order to test cross-level interactions in a non-linear analysis, the model relies on multiplicative effects and country dummies accounting for all level-2 variance. Moreover, Eurostat macro figures were included. Findings:This study finds that (1), having access to entrepreneurial networks can boost entrepreneurial intention even more than parental self-employment (2) having access to entrepreneurial networks and peer groups can substitute the parental effects in equivalent direction and size, and (3) the impact of the national rate of youth unemployment decreases network effects while parent effects are more robust. Research/practical implications:The results suggest that entrepreneurial peer groups are an equivalent substitute for parental self-employment that policy makers could rely on when they want to foster entrepreneurship. However, current entrepreneurial networks are less stable and robust than family effects in countries with higher youth unemployment. Here, policy interventions might be a promising path to generate such stable networks with entrepreneurial role models also during economic crises. Originality/value:This study contributes to the theoretical analysis of entrepreneurship in two ways: It compares parental effects with network effects along an existing framework and adds for the first time an interaction of intergenerational transmission with youth unemployment.

Open Innovation and Internationalization: Case of Brazilian Companies

Open Innovation and Internationalization: Case of Brazilian Companies
(Open Innovation and Internationalization: Case of Brazilian Companies)

Author(s):Paulo Feldmann
Language:English
Subject(s):Social Sciences, Economy
Page Range:277-287
No. of Pages:11
Keywords:Open innovation; internationalization; emergent countries
Summary/Abstract:Purpose:The aim of this paper is to demonstrate that evenin countries with little innovation generation such as Brazil, there are still a few highly innovative companies. Due to the concept of open innovation and their internationalization level, these companies find good partners abroad with which they developinnovation projects. We selected five cases of Brazilian companies that have been successful in terms of innovation because they have used Open Innovation and they are international companies Design/methodology/approach:This is a multiple case study. Inorder to identify the Brazilian companies which we investigated we used international organs or specialized media and considered the companies that had received recognition/prizes for being innovative. We carried out interviews with these companies in order to see how their innovations had been developed and we found that all of them used Open Innovation Concept. Findings: It is possible to find highly innovative companies even in countries having hostile business environments as Brazil. Being strong internationally and favorable to open innovation are key factors for companies to achieve success. Research/practical implications:This paper studies five Brazilian Companies and found that open innovation brings benefits to the companies operating internationally, and that emerging countries such as Brazil should increasingly stimulate those companies to have a wider global presence. Originality/value:This article shows that there is a practical way to increase the production of innovation even in emerging countries where that production is often low, as in Brazil. This procedure is more appropriate to companies already operating abroad and that adopt the concept of open innovation. This concept makes it easier for those companies to find partners and to provide the expertise they lack.

Innovation Clustering and Firms’ Productivity in Italy

Innovation Clustering and Firms’ Productivity in Italy
(Innovation Clustering and Firms’ Productivity in Italy)

Author(s):Anna Maria Ferragina, Giulia Nunziante, Erol Taymaz
Language:English
Subject(s):Social Sciences, Economy
Page Range:288-306
No. of Pages:19
Keywords:Multifactor productivity; Size and Spatial Distributionsof Regional Economic Activity; innovation; multinational firms
Summary/Abstract:Purpose:In this paper we explore how firms’ productivity is affected by agglomeration of firms, clustering of innovation and localisation of FDI in Italy. The analysis aims to provide a measure of spillovers on productivity from geographical and sectorial clustering of firms and from their innovation. Firm’s absorptive capacity is also taken into account by interacting the variables of agglomeration and innovation at region-sector level with size and technology. Design/methodology/approach:Spatial unit of analysis are provinces. Our sample is stratified by size, sectors and region and representative of the Italian firm population. Panel estimates for output by GMM system methodology are used to address simultaneity and endogeneity on inputs and reverse causality between agglomeration and productivity. We build specific indexes of agglomeration and innovation activity at territorial level. Wealso use indicators of innovation performed by domestic and by foreign multinationals at the spatial level of analysis adopted. Findings: The estimation results support significant productivity enhancing agglomeration effects stemming from firms operating in the same sector and region, from innovation clustering at local level, and from higher output of foreign firms located in the same region. However, spatial spillovers are specific to technologically more sophisticated firms. Research/practical implications:In policy terms there is evidence on the outcome that firms in the same industry benefit more from each other as they are more technologically similar,and the sector closeness matters as this may facilitate the flow and absorption of knowledge among firms. However, technology play a critical role and policies should pay specific effort to enhance the absorptive capacity of less technology sophisticated firms. Originality/value: The specific additional insights are given by the adoption of a multidimensional approach, both at spatial and firm level, in the effort to catch at the same time regional characteristics of the economic systems and firm heterogeneity.

Predictive Factors in Student Evasion Control: An Analysis with Structural Equation

Predictive Factors in Student Evasion Control: An Analysis with Structural Equation
(Predictive Factors in Student Evasion Control: An Analysis with Structural Equation)

Author(s):Douglas Filenga, Fábio Machado-da-Silva, Bruno Luz
Language:English
Subject(s):Social Sciences, Economy
Page Range:307-316
No. of Pages:10
Keywords:Structural equation; resource management; performance
Summary/Abstract:Purpose:The aim of this study is to improve the performance of small schools through the strategic use of information. The proposal consists of a new management model that is innovative and makes it possible to properly manage the resources to diminish students' intention to evade. Design/methodology/approach:The data (N=214) were obtained through the application of a questionnaire sent electronically for 60 days in the second half of 2016. The instrument had four scales of five levelsof agreement concerning their respective latent variables: Difficulty of Disciplines, Preference for Institution, Financial Situation and Intention to Evade. The test of the model was by Structural Equation with Partial Least Square (PLS) and analyzed Reliability, Convergent Validity and Discriminant with bootstrapping of 500 replacements. Findings:The results indicate that the assumptions tested were supported. The Intention to Evade can be explained by the analyzed variables, and Difficulty of Disciplines is the variable that has the greatest predictive power. However, the variable Preference for the Institution presented Negative Correlation. Research/practical implications: The study indicates that the students who participated in the research are unsafe in facing the Difficulties of the Discipline. There are also indications that such students consider work to be more important if they have to choose between working or studying, but when they study at an institution of their own choice, this helps to diminish their intention to evade. These findings suggest that actions related to psychological support should be associated with academic actions, including developing partnerships with companies to help their employees to study. Future investigations could investigate which actions and partnerships are most appropriate. Originality/value:The value of this study is to provide a methodology to managers interested in using Structural Equation statistical models to generate information on how material, financial and symbolic resources should be used to reduce students' intention to evade and help the company achieve its goal.

Digital Tourism Promotion and E-Mail Marketing

Digital Tourism Promotion and E-Mail Marketing
(Digital Tourism Promotion and E-Mail Marketing)

Author(s):Tamara Floričić
Language:English
Subject(s):Social Sciences, Economy
Page Range:317-331
No. of Pages:15
Keywords:Digital promotion; newsletters; hotel companies; innovative communication
Summary/Abstract:Purpose:The paper represents the importance of the Internet market with a focus on email marketing promotional tools by means of which, through using databases, business entities, hotel companies and tour operators, with direct or indirect promotion, reach existing and new consumers. The determination of positions and trends, as well as the efficiency of the email promotion, so-called newsletter, is reflected as a goal of the research which explores the attitudes of the youth consumer segment as propulsive future consumers. Design/methodology/approach:The research includes a theoretical review combined with presentation of chosen international practices that support the theory of an innovative marketing approach. The research also includes quantitative as well as qualitative methods which explore the attitudes of tourist demand through 153 questionnaires conducted in December 2017 processed by statistical methodology including chi-squared test, average values, ranking technique combined with creative thinking techniques and other scientific methods (January 2018). The total number of questionnaires was 175, 22 forms were invalid which presents response rate of 87,4%. Youth consumers were randomly chosen,and the location of the research was the town of Pula, Croatia. Findings:Development of information technology and innovations has initiated new business processes in the tourism and hospitality business, as well as radical changes in business and communication with consumers, but also with other business entities. Special offers and promotions communicated through e-mail marketing boost demand and interest and result in customer purchases. The consumer group had to be analysed in respect of gender differences in order to conduct a successful e-mail promotion. Research/practical implications:E-Mail marketing gives hotels the opportunity to reach many potential customers and it is based on data collected from website viewers which is translated into personalised emails about information they were just viewing on the website. The paper provides a deeper insight and enables companies to improve the results of e-mail marketing campaigns. Further research in the field of gender focus areas should be conducted together with an analysis of sending frequency combined with efficiency, as this has been recognised as a challenging issue. Originality/value:This paper is a valuable contribution to existing research on how companies could reach new competitiveness by implementation of innovative E-marketing tools and strategies. The research also points to the importance of creative thinking focused on design of services in order to attract new demand and to communicate with different segments of potential consumers.

Social Innovation in Small Catholic Liberal Arts Institutions: Fostering Social Innovation at Saint Anselm College

Social Innovation in Small Catholic Liberal Arts Institutions: Fostering Social Innovation at Saint Anselm College
(Social Innovation in Small Catholic Liberal Arts Institutions: Fostering Social Innovation at Saint Anselm College)

Author(s):Dina Frutos-Bencze
Language:English
Subject(s):Social Sciences, Economy
Page Range:332-346
No. of Pages:15
Keywords:Social innovation; social entrepreneurship; higher education programming; Catholic liberal arts institutions; United States
Summary/Abstract:Purpose:The purpose of the paper is to provide and describe programming trends regarding social entrepreneurship and social innovation in small Catholic liberal arts higher education institutions in the United States (US). These institutions are considered peer institutions for Saint Anselm College. In addition, the findings are contrasted with previously reported national trends. The Saint Anselm College case illustrates the process, advantages and challenges smaller institutions, that primarily serve undergraduate students, currently face. Design/methodology/approach:National trends regarding social innovation and social entrepreneurship programming are contrasted with observed trends in a sample of 76 peer institutions (4-year, private not-for-profit, Roman Catholic institutions as classified in the Integrated Postsecondary Education Data System or IPEDS) for the 2015-16 academic year. Furthermore, only institutions with an undergraduate student enrollment between 1,500 and 3,000 were considered. Information from IPEDS , and web-based search of the selected institutions provided the basis of the analysis to ascertain the extent to which these institutions have developed social entrepreneurship and social innovation academic programs and centers (IPEDS, 2018). Findings:Small Catholic liberal arts institutions in the US are more vulnerable to changing demographics and tend to have more financial concerns than larger public and private institutions. However, gradually they are embracing entrepreneurship related programming. Nevertheless, social entrepreneurship and social innovation programming has not increased significantly. In addition, we find that there is no streamlined approach for creating and/or developing such programming at these institutions. In the case of Saint Anselm College, the institutional context, administrative leadership and faculty have played a crucial role in establishing social innovation programming. The alignment of the institutions’ mission can play a significant role in developing social innovation programming and initiatives. Research/practical implications:This study raises a series of questions, insights, and possiblehelpful directions for the creation and implementation of social innovation programming initiatives in other peer institutions or similar size institutions. In addition, the paper provides a lens and context for existing work. Originality/value:This study attempts to capture the emerging shift in embracing the concept of social innovation and social entrepreneurship primarily at small Catholic liberal arts institutions in the US. There is evidence that the slight shift is happening beyond these types of higher education institutions as it is increasingly becoming popular at larger research-orienteduniversities. The field of social innovation is still vulnerable and despite the proliferation of social innovation programming, it is difficult to discern whether this is a trend that will stay or whether it is a fad

Innovation and Optimization of the Occupational Health and Safety Management System in a Selected Industrial Enterprise –A Case Study

Innovation and Optimization of the Occupational Health and Safety Management System in a Selected Industrial Enterprise –A Case Study
(Innovation and Optimization of the Occupational Health and Safety Management System in a Selected Industrial Enterprise –A Case Study)

Author(s):Anna Gembalska-Kwiecień, Bożena Skotnicka-Zasadzień
Language:English
Subject(s):Social Sciences, Economy
Page Range:347-356
No. of Pages:10
Keywords:Innovation; optimization of the Occupational Health and Safetysystem; safety management systems; accident at work; human factor
Summary/Abstract:Purpose:The presented article attempts to optimize and innovate the Occupational Health and Safety (OHS) management system in the industrial enterprise in order to reduce the number of potentially accidental events, occupational diseases, accidents at work, and thus to improve work safety at each position. It also presents the developed activities, procedures and instructions thanks to which the OHS management system in the enterprise was introduced. Design/methodology/approach:The implementation process according to the standard consisted of several stages: beginning with the preparation and publication of Health and Safety Policy to the enterprise's employees by the enterprise's Management Board. Health and Safety Policy included the main objectives set by the highest management. The next step was to order the enterprise's Management to perform a preliminary review to assess and analyze the current status of health and safety at work. As a result of the analysis of the studied processes in the enterprise's occupational safety and health management system, those fragments of processes that could and should be improved have been identified. Findings:Documents of the internal OHS management system were created, professional risk management procedures were defined and methods for preventing and reacting to accidents and failures were developed. The enterprise developed methods formonitoring the occupational health and safety at work, investigating accidents at work and the method of conducting internal audits. The preventive correction procedures in the occupational health and safety management system were established. Research/practical implications:The development of specific procedures has made it possible to systematize the occupational health and safety system in force at the enterprise, which will consequently optimize the improvement of safety, and introduce a continuous monitoring and improvement process that should further improve the work safety of the enterprise. The most important elements of the implemented occupational health and safety system in industrial enterprise were the development and publication of a security policy by the enterprise's Management Board, in which the care for employees and their safety was clearly and unambiguously declared. Originality/value:The article uses an approach that focuses on innovation and optimization of OHS management in the industrial enterprise. Specific actions, procedures and instructions have been developed to allow a more creative and innovative approach to the difficult subject of occupational safety

Change Management Towards Digitalization and Innovation

Change Management Towards Digitalization and Innovation
(Change Management Towards Digitalization and Innovation)

Author(s):Patricia Girrbach
Language:English
Subject(s):Social Sciences, Economy
Page Range:357-368
No. of Pages:12
Keywords:Digitalization; innovation; change management
Summary/Abstract:Purpose:The issue of this paper is the conceptualization of a digital transformation concept which supports both, digitalization and innovation. This is caused in the reason that organizations need appropriate circumstances in order to cope with challenges concerning digital transformation. Thus,this paper provides practical starting points in order to support firms in terms of their change towards digitalization. Design/methodology/approach: The paper is based on practical experiences, literature research and expert interviews concerning digitalization in companies. First of all benefits as well as resulting challenges arising out of digitalization will be presented in order to show the importance of digital issues for companies. Grounded on these insights a transformation model for the digital turnaround will be created based on theoretical issues such as change management or sensemaking. Findings:The concept provides practical implication and measurements for a structured change. Hereby companies should first of all focus on the corporate culture due to the fact that culture is the most important enabler or hinderer for any kind of change. This includes the modification of the corporate ́s vision, values as well as the behaviour of executives and proper working condition as well. Moreover,digitalization will be linked to information management in order to underline the importance of the so called horizontal integration due to the fact that networking is the basis for cooperative change processes (Spath, 2013). Research/practical implications: The paper includes implications for the change management towards digitalization and innovation. The provided digital transformation concept serves as a guideline for managing the challenges in terms of digitalization and innovation processes. Originality/value:This paper fulfils an identified need in order to cope with the current issue digitalization that will change our whole life rapidly and extremely. In order to be prepared organizations,need to know how to deal with the challenges concerning digitalization. Only if they are prepared, e.g. by using a digital transformation concept companies are able to see not only the challenges but also the chances evolve out of digital issues.

Digitalization and its Contribution to Sustainability in Terms of the Social Dimension

Digitalization and its Contribution to Sustainability in Terms of the Social Dimension
(Digitalization and its Contribution to Sustainability in Terms of the Social Dimension)

Author(s):Patricia Girrbach
Language:English
Subject(s):Social Sciences, Economy
Page Range:369-379
No. of Pages:11
Keywords:Industry 4.0; digitalization; sustainability; change management
Summary/Abstract:Purpose:Sustainability and digitalization will determine economy in the future. But the crucialquestion is to what extent are both concepts related, are the CEOs of companies aware of this and where are obstacles concerning reaching sustainable social objectives by digitalization? In contrast to most approaches, digitalization will be rather understood as a social phenomenon than a technological issue in the first line. Thus,the study will investigate the social aspect of both topics. Design/methodology/approach:The paper is based on own qualitative depth interviews with managers of companies just as e.g. Lufthansa, Deloitte and Bosch. The empirical study deals with the specific question if top managers see digitalization as chance for sustainable aims and if so where they see problems for transformation on the operative level. Findings:This paper connects digitalization and sustainability on the social level. Interesting findings are that top managers are aware of the social dimension of digitalization. Moreover,they recognise the benefits arising out of digitalization especially for their employees and social objectives of sustainability. But they also mention that there is a gap between what they want and what stuff is willing to contribute due to several reasons. They assess that as the real big challenge concerning the digital organisational turn. Research/practical implications:By connecting sustainability and digitalization this paper provides important implications in order to understand digitalization as a social phenomenon as well as a chance for reaching social aims. Moreover,it decovers obstacles occurring in practice what is important for top managers. Only if they are aware of this they can implement measurements in order to minimize or to prevent those obstacles in their own company. Originality/value: The added value of this work is that in contrast to previous work, digitalization and sustainability are linked at the social level. Moreover obstacles concerning the digitalorganizational turn are approached

Endogenous Determinants of the Absorption of Process Innovations in Financial Services Companies

Endogenous Determinants of the Absorption of Process Innovations in Financial Services Companies
(Endogenous Determinants of the Absorption of Process Innovations in Financial Services Companies)

Author(s):Waldemar Glabiszewski, Dorota Grego-Planer, Katarzyna Liczmańska-Kopcewicz, Maciej Zastempowski
Language:English
Subject(s):Social Sciences, Economy
Page Range:380-391
No. of Pages:12
Keywords:Absorptive capacity; absorption; process innovations; financial companies
Summary/Abstract:Purpose:The need for raising the level of innovativeness and competitiveness caused by the increasingly stronger competition forces companies to seek new sources of getting and new ways of introducing and exploiting innovations. In the case of services providing companies, due to the domain of their activity, process innovations are of particular importance. Their transfer from the environment is a complex and difficult undertaking, and its success is conditioned by the absorptive capacities possessed by the company. Therefore, the main research objective of this article was to identifykey absorptive capacities that are endogenousdeterminants of the effectiveness of the process of the absorption of process innovations in the activityof Poland’s financial companies. Design/methodology/approach: The empirical part of the article was written on the basis of research findings obtained in 2015-2016 by means of an online survey using a CSAQ-a. It was sent to the heads of 155 commercial financial sector companies registered in Poland, namely all banks, property and life insurance companies, investment funds and universal fund management companies. In total, 111 entities filled in the online survey questionnaire. In the conducted study an attempt was made to assess the direction and strength of dependence between the level of development of specific absorptive capacities of financial companies and the scale of the effects achieved as a result of the absorption of process innovations. Findings: Personal and organizational absorptive capacities of financial companies in Poland analysed using Pearson's correlation coefficient, remain in a positive and strong linear relationship with their effectiveness achieved in the scope of the absorption of process innovations. Research/practical implications:The endogenousdeterminants of the effectiveness of financial companies in the field of the absorption of process innovations diagnosed in the course of ongoing research and analysis should constitute for them the basis for determining the priority directions of investments undertaken to supplement and improve their absorptive capacities. They can also become a starting point for undertaking an empirical search for further determinants of effective absorption of process innovations or verification of their impact in other sectors. Originality/value:The presented outcome of the performed research identifies the key absorptive capacities that determine the effects obtained in the process of absorbing technological innovations, taking into account the specific conditions prevailing in the service sector.

The Influence of the Knowledge Area on the Ranking of Determinants of Academic Entrepreneurship

The Influence of the Knowledge Area on the Ranking of Determinants of Academic Entrepreneurship
(The Influence of the Knowledge Area on the Ranking of Determinants of Academic Entrepreneurship)

Author(s):F. J. Miranda González, Francisco Isidoro Vega-Gómez, Antonio Chamorro Mera, Jesús Pérez Mayo
Language:English
Subject(s):Social Sciences, Economy
Page Range:392-403
No. of Pages:12
Keywords:Spin-off; academic entrepreneurship; knowledge transfer; research area; conjoint analysis
Summary/Abstract:Purpose: The study of academic entrepreneurship has become a prolific area of research in the last 20 years, coinciding with the interest shown by political and universityauthorities. This interest is the result of the contribution made by this entrepreneurship, particularly through spin-off creation, economic development, employment and the image and resources of the university. However, according to the literature, the founding of spin-offs varies with the subject area of the researcher, this being one of the main factors influencing the propensity to create companies. Design/methodology/approach: The main objective of this research is to identify the structure of preferences of academics and their ranking, to understand the influence of the determinant factors of the entrepreneurial intention of academics.To this end, a qualitative study has been carried out involving 42 academics from Spanish universities in order to identify the determinant factors of this segment, along with a quantitative study using the conjoint analysis method and involving 1,726 researchers, whose purpose was to identify the ranking of these determinant elements. Findings:The contributions of this study to the research area are important from both a theoretical and practical point of view. Firstly, the methodology used for the quantitative analysis has not been used before in this scientific field. Secondly, the results of the qualitative analysis show that the determining factors of entrepreneurial intention are the same regardless of the research area of the academic. Finally, this study concludes that these determining factors are valued and ranked very differently depending on the academic area, thus demonstrating the existence of differentiated segments within academic entrepreneurship. Research/practical implications:This study offers a series of important practical implications, particularly in the aspect referring to policies for the promotion of academic entrepreneurship. While the determinant factors of entrepreneurial intention are the same for all academics, a differentiation in valuations and rankings can be observed depending on the area in question. This aspect implies that several segments can be created, so those responsible for public and university policies must take into account these different valuations in order to promote entrepreneurship in those areas that they consider strategic or priority given their line of specialisation. Originality/value:Firstly, the conjoint analysis method, tested and widely used in other areas, has never been used for the study of academic entrepreneurship. This methodology is very useful given its ability to divide the decision into several important attributes and to classify the preferences, thus offering a new perspective for the analysis of the results in this area.Secondly,of all the factors cited by the literature as determinants of academic entrepreneurship, this study manages to identify six, therefore offering an interesting original contribution to the literature.

The Impact of Entrepreneurial Management on the Participation of Small and Medium Enterprises in the International Market

The Impact of Entrepreneurial Management on the Participation of Small and Medium Enterprises in the International Market
(The Impact of Entrepreneurial Management on the Participation of Small and Medium Enterprises in the International Market)

Author(s):Mehrdad Goudarzvand Chegini
Language:English
Subject(s):Social Sciences, Economy
Page Range:404-416
No. of Pages:13
Keywords:Entrepreneurialmanagement; internationalization; small and medium enterprises
Summary/Abstract:Purpose:The purpose of this research is to investigate the impact of entrepreneurial management ontheculturalaspects of entrepreneurship, growth orientation, and philosophyof reward, management structure, strategic orientation,and the tendency of resources for the participation of small and medium enterprises in the international market. Methodology:The data of the research have beenelicited using a standard questionnaire. The population of the study includes the board of directors and the managers of the small and medium companies in Rasht Industrial Park in Iran.The analysis of the data has beencarried out by software. The hypotheses have been investigated through chi-squaretest. Originality/value:One of the most significant public policiesof many of thecountries in the world is to internationalize small and medium enterprises. A fundamental logic in support of internationalizing small and medium enterprisesis that internationalization is suitable for small companies. Findings:The research findings revealed that amongthe components, entrepreneurshipculture and resource orientationhave the highest rank and importance. It means that senior managers in these companies possess adequate ideas to produce new products and services and have a tendencytoward using external resources. Result:The resultsshowthat entrepreneurial management has a positive significant impact onthe participation of small and medium enterprises in the international market.

Mining Firms and Sustainability Reporting in Ghana

Mining Firms and Sustainability Reporting in Ghana
(Mining Firms and Sustainability Reporting in Ghana)

Author(s):Robert Ebo Hinson, Anne Renner, John Paul Kosiba, Frederick Okyere Asiedu
Language:English
Subject(s):Social Sciences, Economy
Page Range:417-426
No. of Pages:10
Keywords:Sustainability-reporting; mining firms; Ghana; online sustainability communication
Summary/Abstract:Purpose:Despite the significant contribution of mining to Ghana’s development, little is known about sustainability-reporting disposition of players in the Ghanaian mining industry. The objective of this study is to assess the sustainability-reporting performance of selected mining firms operating in Ghana. This study therefore offers one of the rare works, from the Ghanaian context that documents how mining firms seek to turn the tides on the negative publicity regarding sustainability issues through disclosures. Design/methodology/approach: We employed a multiple case study approach, where more than one unit of analysis (case) was studied as the research design. The study involved two sets of cases: foreign and local. The foreign case consists of six firms: AngloGold Ashanti, Goldfields, Newmont, Perseus Mining Limited, Azumah Resources and Pelangio Exploration Incorporated. The second case has four local mining companies: Bloomfield Mineral Resources, West Line Mining, Western Precious Metals and Ghana Manganese Company (GMC). Archival data were gathered via the websites of the mining firms studied. We analysed the data using pattern matching. Findings: The findings indicate that in Ghana, foreign-owned mining firms tend to report more on their sustainability initiatives than their local counterparts. Furthermore, we noted that foreign-owned mining firms operating in Ghana disclose more environmental sustainability information irrespective of the size of firm. Research/practical implications:Our findings suggest that sustainability reporting practices among local mining firms are still at the embryonic stage and they need to adopt standardised guidelines for reporting their sustainability initiatives. The study’s major limitation was the emphasis on only the online reports of the firms. Further studies could be conducted where a combination of media reportage such as printed reports, newspaper articles, and magazines are examined in addition to the company websites. Again, for reasons of generalisation, future studies can be conducted on the sustainability reporting idiosyncrasies of all the mining firms operating in Ghana. Originality/value: This study through multiple case research design has documented how well mining firms in Ghana are faring on the sustainability reporting ladder because most studies on sustainability in the Ghanaian literature have focussed on reporting in tertiary institutions (e.g. Hinson et al., 2015) andthe environmental costs of mining activities (Boachie, 2012).

Non-Financial Indicators in the Valuation Process in Czech Republic

Non-Financial Indicators in the Valuation Process in Czech Republic
(Non-Financial Indicators in the Valuation Process in Czech Republic)

Author(s):Jaroslav Hradílek
Language:English
Subject(s):Social Sciences, Economy
Page Range:427-436
No. of Pages:10
Keywords:M&A; non-financial indicators; valuation; benchmarking
Summary/Abstract:Purpose:This paper deals with the increased significance of non-financial indicators in company valuation process. It researched if these indicators or, more generally,non-financial data are used in business praxis in M&A transactions in Czech Republic. Design/methodology/approach:The research was conducted on a sample consisting of three Due Diligence reports used in M&A transactions (two for buyer, one for seller). In addition, one certified expert data set for valuation has been examined. A methodology was created to set the most important areas for non-financial indicators and to evaluate these reports according to these criteria. Findings: None of the researched document dealt with non-financial indicators intensively to improve the accuracy of the company valuation. Some of them dealt with certain non-financial information but none has defined a standardized system to use non-financial indicators to decrease the risk of improper value setting and possible financial losses on either side of anM&A transaction. Research/practical implications: The buyer in M&A transaction focuses primarily on financial analysis. They should take in account also the non-financial indicators, as they have significant predictive power. This can improve the accuracy of M&A transactions and lead to higher success rate of M&A transactions. The increased usage on non-financial indicators by company controlling systems is also highly recommended. The results can reduce sunken costs of M&A transactions and improve performance of small and medium enterprises. As there is a gap in a literature,bettertheoretical background for the praxis shall be provided. Originality/value:Few researches havedealt with the non-financial indicators problematics. No research has been conducted on the real data from business transactions. Further research on larger data sample recommended.

Corporate Sustainability With Focus on HR, Reporting and Financial Performance

Corporate Sustainability With Focus on HR, Reporting and Financial Performance
(Corporate Sustainability With Focus on HR, Reporting and Financial Performance)

Author(s):Štěpánka Hronová, Jitka Srpová
Language:English
Subject(s):Social Sciences, Economy
Page Range:437-447
No. of Pages:11
Keywords:Corporate sustainability (reporting); CSR; financial performance; human resources; sustainable management
Summary/Abstract:Purpose:Reason for the paper is to build a theoretical background and to compile literature review on Sustainable Corporate Responsibility (SCR). Design/methodology/approach:The objectives are achieved through thorough exploration of the most current scientific research and academic papers. The literature review was conducted with the use of mixed research techniques where the authors were collecting and analysing both qualitative and quantitative data. The subject scope and the research problem are represented by corporate sustainability (focused on HR) and its nonfinancial disclosure. Firstly, the authors reviewed CSR/ sustainability and reporting research. Secondly, the review sought to find answer to the research question of whether responsible behaviour (towards HR) of reporting organizations is in correlation with their higher financial performance and appreciation. Findings:Positive correlation has been found between corporate (social) sustainability (oriented on HR) and increased financial performance as well as appreciation of shares of the sustainable reporting entities. Research/practical implications:Implications for practitioners and companies: sustainable behaviour, social liability (towards HR) and their reportingare recommended as the discussed studies bring proof of their positive impact on financial performance. For researchers: the evidence brought can inspire further research in order to collect more support for the findings. Originality/value:The original contribution of the paper is its focus on sustainability within human resources (HR) and their management. The main added value is the up-to-date sustainability literature overview.

Analysis of Entrepreneurial Eco-System for Refugee Entrepreneurial Activities in Germany

Analysis of Entrepreneurial Eco-System for Refugee Entrepreneurial Activities in Germany
(Analysis of Entrepreneurial Eco-System for Refugee Entrepreneurial Activities in Germany)

Author(s):Hartmut–Heinrich Meyer
Language:English
Subject(s):Social Sciences, Economy
Page Range:669-682
No. of Pages:14
Keywords:Entrepreneurship education; Germany; migrant; education; integration
Summary/Abstract:Purpose:The research is analysing the challenges refugee-entrepreneurs face while engaging in entrepreneurial activities. The research is analysing factorswhich influence entrepreneurial activities by refugees as well as determine the implications for the entrepreneurial eco-system to support entrepreneurship by refugees. Design/methodology/approach:The research builds upon the research framework of Wauters and Lambrecht 2009 and on earlier own research work. By using a framework of three entities as access to entrepreneurship, human capital and entrepreneurial environment different variables have been evaluated for qualitative analysis of the current situation of refugee migrants. The results of the paper are based on 17 in depth interviews in North Germany with refugee entrepreneurs while engaging in entrepreneurial activities. Findings: The paper gives first insights on the factors determining entrepreneurial activities of refugees. The results demonstrate quite clearly that refugees start their entrepreneurial career in the informal sector due to a lacking support by the entrepreneurial eco-system and formalize their activities after some time in operation. Education is one of the central variables which has a decisive role in two aspects. Low and untrained refugees are often pushed into entrepreneurship as they are not able to meet labour market standards. Higher education has a negative impact in taking up long term entrepreneurial activities. Research/practical implications:The paper suggests for policy makers and the various organisations of the economy a clear need to improve the communication between refugees and the entrepreneurial eco-system. In particular, financial assistance and accountancy services should be provided in order to offer the necessary information for a sustainable entrepreneurship by refugees. Originality/value:The paper provides a suggestion which factors are positively and negatively associated with the process of developing entrepreneurial activities by refugees. The proposed model suggeststhe value of education and language skills need to be seen in a new light. The result outlines the quality of assistance needed to guiderefugees’entrepreneurs during the attempt of developing entrepreneurial activities.

Cause Related Marketing from the Slovak Consumers’ Perspective

Cause Related Marketing from the Slovak Consumers’ Perspective
(Cause Related Marketing from the Slovak Consumers’ Perspective)

Author(s):Zuzana Huliaková, Zdenka Musová
Language:English
Subject(s):Social Sciences, Economy
Page Range:448-457
No. of Pages:10
Keywords:Cause related marketing; Slovak consumers; socio-demographic characteristics
Summary/Abstract:Purpose:The success of the cause related marketing is highly depending on the customers and their willingness to participate in the cause related marketing projects. The aim of the paper is to present the results of the analysis the willingness of the Slovak consumers to participate in the cause related marketing projects and also to examine the difference between their approaches based on their gender, age, education and disposable income. Design/methodology/approach:The data were obtained through the questionnaire research which was realized on research sample of 415 respondents from Slovakia. Respondents expressed their approach towards three statements through 7-point Likert scale. The data were processed with Mann Whitney Utest, Anova test and Spearman Correlation Coefficient. Findings:The results of the research indicate that Slovak consumers are willing to participate in the cause related marketing, but their willingness may decrease with the need to change the preferred brand of the product orpay higher price for the product. From the socio-demographic characteristics, only gender of the consumer has influence on cause related marketing perception while the women have more favourable attitude. Research/practical implications: When applying the cause related marketing the companies should take into consideration the sensitivity of the consumers towards price increase of the products related to the good thing. Products which are mostly purchased by women have higher probability to be successfully implemented in cause related marketing projects. Originality/value:The paper develops the current awareness about the perception of cause related marketing by Slovak consumers. The paper presents how socio-demographic characteristics determine the willingness of the Slovak consumers to participate in the cause related marketing.

Relation between CSR and Financial Performance in SMEs

Relation between CSR and Financial Performance in SMEs
(Relation between CSR and Financial Performance in SMEs)

Author(s):Jan Mísař, Adriana Válová, Jitka Srpová
Language:English
Subject(s):Social Sciences, Economy
Page Range:683-695
No. of Pages:13
Keywords:Corporate social responsibility; empiric research; SMEs; the Czech Republic
Summary/Abstract:Purpose:The aim of this paper is to explore and analyse an implementation of corporate social responsibility (CSR) by small and medium-sized enterprises (SMEs) in the Czech Republic and explore if there is a relation between CSR activities and financial performance. Even though CSR has been in the spotlight for quite some time, it has been mainly due to activities of corporation, whereas activities of SMEs still tend avoid any publicizing. There is also lack of studies on this topic and most of the existing ones were conducted prior to the Czech National Strategic Plan on CSR. Results of this study therefore show whether there has been any development in the wake of this programme. Design/methodology/approach:The research follows study from Torugsa, O'Donohue and Hecker (2012) published in the Journal of Business Ethics and further develops this study by adding new areas as suggested by Srpová, Kunz and Mísař (2012). The research was conducted among Czech SMEs, using contacts from the Albertina database. The pilot study was done on 10 respondents prior to the main research and in order to improve the overall quality. Data collection was conducted by a phone communication followed by sending a questionnaire to the selected e-mail addresses and (if necessary) follow up communication with respondents. The majority of questionnaires were filled in by business owners or top managers. After rejecting uncompleted questionnaires, the final research sample consisted of 463 SMEs. Authors are aware that there are research limitations connected to the representativeness due to the fact that the contact list came from a research database. However, the numberof respondents is still almost three times higher than in the original paper from the Journal of Business Ethics, where the authors clearly stated that they used mainly personal contacts to get respondents, which clearly led to biased selection. This also further supports our claim that there is simply a lack of good studies on this topic. The data was analysed using SPSS and Excel. The main method was Spearman's correlation coefficient which helped to determine validation of hypothesis: CSR is positively associated with SMEs financial performance. Findings:The findings show the progress in perception as well as implementation of CSR among Czech SMEs, the areas of their focus and how they perceive advantages of these activities. The leap between 2012 and 2016 is significant. The paper proved that there is a link between CSR and financial performance in SMEs through an empiric quantitative study. The positive monotonic correlation is weak which proves that there is still a lot of room for improvement during implementation and planning. Research/practical implications:The research clearly shows that CSR is no longer a playground for corporations only butthat there is a strong trend among small enterprises to behave responsibly. Proof ofpositive relation between CSR and financial performance will encourage yet reluctant entrepreneurs to implement CSR activities. Originality/value:The research brings a fresh look on CSR activities of SMEs just after nationwide promotion of this concept. It is one of very few papers aimed at financial efficiency of CSR in SMEs as many authors avoid this topic due to its difficult and lengthy process of both data collection and consequent analysis and interpretation.

Entrepreneurial Thinking: Towards Drivers of Innovation Processes in Public Sector

Entrepreneurial Thinking: Towards Drivers of Innovation Processes in Public Sector
(Entrepreneurial Thinking: Towards Drivers of Innovation Processes in Public Sector)

Author(s):Iuliia Iliashenko, Patrizia Gazzola
Language:English
Subject(s):Social Sciences, Economy
Page Range:458-468
No. of Pages:11
Keywords:Public sector innovations; public sector entrepreneurship; knowledge-based entrepreneurship; entrepreneurial thinking
Summary/Abstract:Purpose:The paper aims to provide contribution to the literature devoted to the public-sectorinnovations research providing new insights considering approach which discover entrepreneurial thinking as one of the intra-organizational antecedents in the innovations within public organizations. Moreover, the study seeks to provide new theoretical perspective on to the entrepreneurship in public context from the standpoint of the concept of knowledge-based entrepreneurship with regard to the innovation process. Design/methodology/approach:In order to provide systematic approach this study performs literature review via three-stage procedure of paper selection from Google Scholar and One Gale databases for the period of 1985 -2017. Being in consistency with the purpose of the paper, the main criteria of eligibility is consideration of the entrepreneurial orientation and behaviour within public sector from the standpoint of innovation and efficiency. In addition to develop empirically-based conceptual framework of mapping the entrepreneurial thinking withinthe processes of theformation of innovation enabling conditions we select only studies applied empirical methods. Findings:The findings suggest that the entrepreneurial thinking in public context perform function of drivers of the innovation process at both: individual and organisational level. Align with considering potential impact on two levels, it provides theoretical framework of cumulative effect, based on one of the core principals of knowledge–based entrepreneurship -optimal use of knowledge and human capital. Research/practical implications:The paper embraces implications for the innovation strategy development for public sector organisations, concerning how to foster innovation more effectively by supporting the motivation of entrepreneurial thinking among publicemployees. It opens new areas for future empirical research, for instance to identify the determinants of entrepreneurial thinking in public context. Originality/value:This paper fulfils the revealed gap at the conceptualisation of the entrepreneurial thinking and acting within public organisations with respect to the concept of innovations within organizations

Creating a Platform Based Business Model in Dental Industry

Creating a Platform Based Business Model in Dental Industry
(Creating a Platform Based Business Model in Dental Industry)

Author(s):Anatoly Molodchik, Dimitar Dimitrakiev, Galina Ostapenko
Language:English
Subject(s):Social Sciences, Economy
Page Range:696-707
No. of Pages:12
Keywords:Business model innovation; dentistry; blockchain; self-organization and self-development
Summary/Abstract:Purpose:The article considers one of the possible approaches to building a fundamentally new business model for dental industry with a concept of a self-organizing industry management system based on blockchain platform, crypto currency and reward for consumer target behavior. Design/methodology/approach:The theoretical design based on literature review, the content analysis and practical experience of business model transformation in digital platform economy and innovative blockchain technology, while the authors develop, describe and implement a new concept of a new business model in dentistry. The factual basis was the materials of an experiment conducted in the Netherlands to create a platform community Dentacoin based on blockchain platform. Findings:The developed concept of the business model in dentistry shows the main mechanisms that make the model attractive to the consumer services: obtaining objective information about services and producers; formation of a contract on the basis of independent diagnostics and its insurance; financial and logistical support of the service. Research/practical implications: The results of theoretical and practical research confirmed the possibility and expediency of the business model innovation of dental industry. The analysis of the current stage of Dentacoin Project implementation shows that business model works. Originality/value:The proposed concept of business model based on blockchain technology is fundamentally new for the dental industry. It is the first time describe and systemize a new management mechanism of value creation together with utilizing the blockchain advantages. The creation and implementation of the first blockchain-based platformin dentistry allows achieving transformative change of a whole industry and will greatly enrich both the theory and practice of transformational phenomena.

Regional Factors Determining Innovativeness of Enterprises in Poland –A Case Study of the Kuyavian-Pomeranianvoivodeship

Regional Factors Determining Innovativeness of Enterprises in Poland –A Case Study of the Kuyavian-Pomeranianvoivodeship
(Regional Factors Determining Innovativeness of Enterprises in Poland –A Case Study of the Kuyavian-Pomeranianvoivodeship)

Author(s):Alfreda Kamińska
Language:English
Subject(s):Social Sciences, Economy
Page Range:469-480
No. of Pages:12
Keywords:Innovativeness of enterprises; regional conditions of innovativeness
Summary/Abstract:Purpose:The aim of this paper is to verify the thesis that there are a number of factors on the regional level whichinfluence innovativeness of enterprises, and proper stimulation of these factors by voivodeship authorities may contribute to increasing the innovativeness of enterprises. Design/methodology/approach:The conclusions are drawn from a survey performed in Poland on a sample of 265 small, medium, and large enterprises from the Kuyavian-Pomeranian voivodeship. The research analysed the impact of 27 regional factors on innovativeness of enterprises. Spearman’s rank correlation coefficient was used to determine the relationship between the level of innovativeness of enterprises and the assessment of factors included in the study. Findings:The research presented here has identified the relatively most important factors influencing innovativeness in each of five groups of region-level conditions. Research/practical implications: The conclusions of the study are important information for voivodeship-level local government, which should focus its innovative policy more on the factors that the entrepreneurs judge most significant instimulating innovativeness. The conclusions of the study may also be useful for the companies which aim at increasing their level of innovativeness, as well as for the institutions of business environment which offer services supporting implementation of innovations. They may contribute to an increase in the innovative potential of companies. Originality/value:This paper seeks to systematise regional factors and present the size of their impact on innovativeness of enterprises.

Implementation of Agile Method in Russian University

Implementation of Agile Method in Russian University
(Implementation of Agile Method in Russian University)

Author(s):Natalia Molodchik, Natalia Nagibina
Language:English
Subject(s):Social Sciences, Economy
Page Range:708-721
No. of Pages:14
Keywords:Agile model; university; practice-oriented education
Summary/Abstract:Purpose:The purpose of the article is to elaborate agile based model „University-Student-Enterprise“ andexplore its applicability in the case of Russian university.Impactful global social, economic and political challenges call for corrections in the current labor market needs and raise the importance of university education improvement. In conditions of state educational institutions optimization, transformation isthe only viable option for most of the Russian universities. Design/methodology/approach:The theoretical design is based on literature review, concept analysis and practical experience of agile technologyin higher education, when the authors develop a new agile based model “University-Student-Enterprise”. The implementation design is based on the action research with regard to the Russian university bachelor programs. Findings:The study finds out that agile-based work can qualitatively change the interaction between participants and impact the organizational and motivational configuration of the educational process and product of the educational system. The designed agilemodel helps define the core principles and tools of the educational process management. Research/practicalimplications:Agile based model can be applied in other universities. Practical results of its implementation prove its effectiveness through the following metrics:quality improvement, acceleration of processes, cost reduction.The key difference between the Agile model and the conventional university education model concerns the format and nature of interaction between the education process participants (University-Student-Enterprise). Originality/value:The paper makes a valuable contribution in the field of research and implementation of management innovations in the educational environment. The suggested model contains description of specific organizational and motivational devices that ensure agile, flexible, transformation-inducing configuration of the university educational system.

Gaming as an Approach to Convey the Effectuation Message

Gaming as an Approach to Convey the Effectuation Message
(Gaming as an Approach to Convey the Effectuation Message)

Author(s):Duygu Keskin
Language:English
Subject(s):Social Sciences, Economy
Page Range:481-493
No. of Pages:13
Keywords:Serious games; effectuation; entrepreneurship education
Summary/Abstract:Purpose:Effectuation has been emerging as an alternative perspective to the traditional theories on entrepreneurial decision-making, also referred to as causal reasoning. Building on the dichotomy between causal and effectual reasoning, a simulation game was designed to explore the effectiveness of games in teaching effectuation. Design/methodology/approach:The game was designed to simulate the first year of a business development process based on an opportunity, and a number of causal and effectual actions that can be used to develop a sustainable product/service and accompanying business. The game was tested within the context of an European project, with the representatives of the project partners and students of Lund University. At the end of the game, the participants were asked to fill in an evaluation form to gather insights into the effectiveness of the game in introducing/teaching effectuation. Findings:Our findings suggestthat the game is a successful awareness tool in conveying the effectuation message; the players enjoyed it and found it educational. The game introduced the players in a fast and effective way to the theory of effectuation. Research/practical implications:Besides learning effectuation as an alternative approach, the participants could directly apply it and learned what the implications are in practice. Moreover, the game instantly provides teachers/facilitators insights into the profile of the students or participants and their causal/effectual behavior and consequent learning needs. As a result, it can also be used as an educative planning tool for course development. Originality/value:This study explores gaming as an alternative approach to teaching effectuation, and therefore contributes to the research on entrepreneurship education.

Parking as an Importantservice of Innovative Hotels: a Case of Croatia

Parking as an Importantservice of Innovative Hotels: a Case of Croatia
(Parking as an Importantservice of Innovative Hotels: a Case of Croatia)

Author(s):Edna Mrnjavac, Nadia Pavia, Robert Maršanić
Language:English
Subject(s):Social Sciences, Economy
Page Range:722-733
No. of Pages:12
Keywords:Innovation; innovative hotels; hotel product; parking service
Summary/Abstract:Purpose:Innovative hotels are a recent phenomenon. The innovation of their product is based on a personalized service with cultural and autochthonous content and experiences. The aim of the research was to obtain better understanding of the role of parking in the product of innovative hotels: whether parking is a component of a hotel product, whether parking problems exist, and what the importance is compared with other elements of a hotel product.The purpose of the study is to draw attention to the state of parking in innovative hotels and to shape guidelinesfor an optimal model of parking services. Design/methodology/approach:Primary and secondary data were used. Secondary data served to define the characteristics and functions of innovative hotels and the role of parking services. Primary data were collected directly from the managers, through their descriptive responses to a questionnaire. The responses were systemised according to similarities and differences and according to the special features of innovative hotels. The study involved 10 innovative hotels in the Republic of Croatia. Insight gained from the study should help managers to enhance the competitiveness and improve inovation of the hotel product. Findings: Most of the innovative hotels have parking-related problems, because they either lack asufficient number of parking spaces or have no parking space at all. Hotels’ managements and guests consider parking services a vital element of the hotel product. The resolution of parking-related problems depends upon location. Hotels located in town centres have no possibilities for building their own car parks. The only solution is to rent a number of parking spaces through the local government or from parking companies. If a hotel cannot provide parking services, it is important for the guests to be fully informed of this. Research/practical implications:The study has confirmed that the parking service is an essential element of the innovative hotel product. Hotels should have their own car parks and, if needed, rent additional parking spaces in thenearest public car parks or parking garages. The research has indicated that cooperation with local government is crucial because of its decisive role in shaping parking polices and mobility in the destination. In this way it indirectly effects on the competitive ability of the hotel product. Future research should focus on models of cooperation with local government in ensuring parking spaces and mobility within destination. Originality/value:Parking as a part of the product of innovative hotels has not been researched jet. The value consists in findings that parking is an essential element of the competitiveness of innovative-hotel products and that there is a correlation between guest satisfaction with their stay at the hotel and the availability of parking. A special contribution is the perception of importance of parking among other elements of product of innovative hotels as well as the role of local government in resolving parking problems. The results are applicable to other european destinations that are working on innovative hotels’ product.

Influence of Social Capital on Incubated MSMEs’ Access to Non-Formal Finance. A Case of Tanzanian Incubated MSMEs

Influence of Social Capital on Incubated MSMEs’ Access to Non-Formal Finance. A Case of Tanzanian Incubated MSMEs
(Influence of Social Capital on Incubated MSMEs’ Access to Non-Formal Finance. A Case of Tanzanian Incubated MSMEs)

Author(s):Deogratias Kibona, Utz Dornberger, Noor Un Nabi
Language:English
Subject(s):Social Sciences, Economy
Page Range:494-503
No. of Pages:10
Keywords:Financial accessibility; non-formal finance; incubatee’s social capital; incubator manager’s social capital
Summary/Abstract:Purpose:The purpose of this study was to investigate whether social capital of incubatees and incubator managers contribute to the incubatees’ access to non-formal finance in Tanzania. Also, to understand the types of social networks that have significant influence on incubatees’ access to non-formal finance. Design/methodology/approach:Quantitative research approach was adopted in this study where data collection was conducted through the self-administered questionnaire. A stratified sampling technique was used because of the diversity of the business incubation programs and a sample of 141 incubated MSMEs was selected out of 593 incubated MSMEs in Tanzania. PLS regressions analysis method was employed to test the impact of bonding, bridging and linking social capital of both incubatees and incubator managers on incubatees’ access to non-formal finance. Findings: The results indicate that incubatee’s bonding and bridging social capital and incubator manager’s linkingsocial capital have positive impact on incubatee’s access to non-formal finance. But incubatee’s linking social capital and incubator manager’s bonding and bridging social capital have insignificant impact on incubatee’s access to non-formal finance. These results suggest that incubatees’ family members, neighbours, close and distant friends and secondary groups play a significant role in helping incubatees access finance from non-formal financiers. Similarly, incubator managers’ connections to influential people in private sector, civil society organisations, and governmentand public representatives have significant influence on incubatees’ access to non-formal finance. Research/practical implications: This paper creates awareness to incubatees to utilize their bonding and bridging network links, to increase their non-formal financial accessibility. The incubatees are also motivated to utilize the incubator managers’ connections in the civil society organizations, private sector, government agenciesand public representatives. Based on these results, policy makers should adopt group guarantee strategy which is being applied among secondary groups to facilitate financial accessibility. Also, policy makers can focus on how to maximize utilization of incubator manager’s connections to key people in civil society organizations, private sector, government agencies and public representatives. Originality/value:The paper begins with an overview of previous researches in area of MSMEs’ access to finance and then moves on to show the role of social capital in incubated MSMEs’ access to non-formal finance. The paper then suggests the type of social capital/social networks that have a significant impact on incubated MSMEs’ access to non-formal finance

Strengths and Weaknesses of Family Business of the Czech Republic: Case of Family Wine Firms

Strengths and Weaknesses of Family Business of the Czech Republic: Case of Family Wine Firms
(Strengths and Weaknesses of Family Business of the Czech Republic: Case of Family Wine Firms)

Author(s):Anastasia Murínová, Vojtěch Koráb
Language:English
Subject(s):Social Sciences, Economy
Page Range:734-750
No. of Pages:17
Keywords:Family; wine business; family business; strengths; weaknesses
Summary/Abstract:Purpose:The purpose of the paper is to identify the characteristics of family business dividing them into strengths and weaknesses.The subject of this study is main characteristics of the family business, its complexity and difficulties faced thereby lying in the base of two main components: the family and business system. The objective of the paper is to expand the results of previous studies, to measure out the main characteristics of the selected family wine firms in the Czech Republic. Design/methodology/approach: A brief comprehensive literature review about the main features of family business was carried out followed by case study using a SWOT analysis to inquire the generic strengths and weaknesses of family wine business. Primary data were obtained from face-to-face structured interviews with 10 representatives of the family wine business in South Moravia Regionof the Czech Republic conducted in 2017. Each item of SWOT analysis was evaluated and acquired a rating and weight assumed. Then obtained data were examined and accounted for the overall picture for each category. Further, the final balance was calculated to determine the possibilities for enhancement and focus. Findings:As a result,we obtained brief review about family business definitions. Furthermore, the main strengths and weaknesses of selected family wine firms. Wine family business is a bright type of business that keeps and transfer traditions from one generation to another in the Czech Republic. Research/practical implications:The main contribution of this study is creation of a synoptic overview of the actual position of family business in the Czech Republic.There are summarizing results from previous empirical studies that help to create a sufficient basis for the future research. Originality/value:This research enhances the understanding of family business from the internal and external factors perspectivethat influence family wine firms.

Technology Adoption and Management Strategies: An Empirical Analysis of Women Enterprises in Food and Beverage Sector

Technology Adoption and Management Strategies: An Empirical Analysis of Women Enterprises in Food and Beverage Sector
(Technology Adoption and Management Strategies: An Empirical Analysis of Women Enterprises in Food and Beverage Sector)

Author(s):Ravi Kiran
Language:English
Subject(s):Social Sciences, Economy
Page Range:504-519
No. of Pages:16
Keywords:Technology adoption; technology management; business performance; food and beverage sector; women entrepreneurs
Summary/Abstract:Purpose:The present study has been undertaken to analyse the technology adoption and management strategies of women enterprises in food and beverage sector in India. Although women entrepreneurship has attracted many researchers, yet technology adoption and management strategies aspect has not been given enough attention. As Food and beverage sector is a growing sector of Indian economy, the present study is an effort to identify and analyse the technology adoption and management strategies of women entrepreneurs in this sector. Design/methodology/approach: The studywas conducted in 5 major districts of Punjab. Punjab is a growing economy of India. A sample of 60 women entrepreneurs was taken. The primary information was gathered with the help of a structured questionnaire.Factor analysis was used to identify technology adoption strategies. The study identified the technology management strategies used by women entrepreneurs in Food and Beverage sector. Finally, structural equation modeling has beenused, to identify which Technology adoption and management strategies influence business performance. Findings:The results indicate that there are five major factors that led to technology adoption in food and beverage sector, viz. organizational culture; external environment; policy factors; market competence and customer satisfaction. Further, there are three major technology management strategies that are followed by companies in food and beverage sector. These are: employee involvement; management initiative; and training and development. Resultsof structural equation modellinghighlight that both technology adoption and technology management strategies influence business performance. 76.3 percent variation in business performance is influenced by technology adoption and technology management strategies. However,technology adoption emerges as a better predictor. Research/practical implications:The results technology adoption emerges as a better predictor of business performance. These results indicate that most women entrepreneurs are investing more funds on technology adoption and adoption may increase the output and business performance. However real gains in business can be made through focusing on technology management which will result not only increase in output, butwill result in real productivity gains. This suggests that there is need to focus on technology management strategies in future. Originality/value: Women entrepreneurs are perceived to be slow adopters of technology, but there were not studies trying to empirically examine this. Thus, a research was needed to examine technology adoption of women entrepreneurs in food and beverage sector. This study is one of initial studies that is examining not only technology adoption, but also is analysing how technology adoption and technology management strategies are influencing business Performance.

Impact of the Board Meeting and Gender Diversity to Firm Performance: an Empirical Study in Vietnam

Impact of the Board Meeting and Gender Diversity to Firm Performance: an Empirical Study in Vietnam
(Impact of the Board Meeting and Gender Diversity to Firm Performance: an Empirical Study in Vietnam)

Author(s):Hanh Le Thi My, Hoanh Lam Thi Hoang
Language:English
Subject(s):Social Sciences, Economy
Page Range:751-764
No. of Pages:14
Keywords:Firm performance; frequency of board meetings; gender diversity
Summary/Abstract:Purpose: The purpose of this paper is to determine the influence of the board of director’s (BOD’s) characteristics, such as the board meeting frequency, the participants and the gender diversity of listed companies on the firm performance in Vietnam. Design/methodology/approach:Dependent variables represented the firm performance are measured by financial ratios, such as ROA. The research sample include 78 companies in the Top VN100 companies (ranked in 2014) listed on the Vietnamese stock exchange in the period from 2013 to 2015 with a total of 234 observations. The authors collected and analyzed data from the audited financial statements, management reports, and annual reports of companies. Findings: The research results show that the frequency of board meetings negatively affect the firm performance. The boards meet more often following poor financial performance. The proportion of members attending the meeting does not affect the firm performance. In addition, the female directors enhance BOD’s effectiveness. Research/practical implications: The findings of this study will help Vietnamese firms, investors and regulators to review the implications of the current board activities, especially improve the quality of board meetings and the board gender diversity to get more effectively in Vietnam to increase firm performance. Future studies may expand the sample size and study period in combination with other related variables such as ratio of board attendance or examining the effect of various kinds of meetings on firm performance to obtain more valuable research results. Originality/value:we suggest the policy debate by providing empirical evidence supporting the business case for board diversity.

An Overview of Business Models in the Czech Chemical Industry

An Overview of Business Models in the Czech Chemical Industry
(An Overview of Business Models in the Czech Chemical Industry)

Author(s):Peter Kita, Iveta Šimberová
Language:English
Subject(s):Social Sciences, Economy
Page Range:520-529
No. of Pages:10
Keywords:Novel business model; business model; multiple value creation; chemical industry
Summary/Abstract:Purpose:The paper’s objective is to provide an overview of the utilized business models in the Czech chemical industry, more specifically section 20.1 according to CZ NACE. The aims of the underlying research are to provide a methodology to study an industry through the scope of its business models and utilize it on a specific industry to identify novel business models. Specifically, the research was conducted to identify the specific elements (or features) of novel business models based on sustainable multiple customer value creation within the context of the chosen industry. Design/methodology/approach:The methodology is based on the work of different authors. Based on their methodologies and research a questionnaire was developed to fit the specific goal. The questionnaire’s relevance was tested during semi-structured interviews with 2 directors from 2 different companies belonging in the sample. The sample consists of all 38 companies belonging to section 20.1 CZ NACE. The questionnaire was primarily targeted to commercial directors or production directors. It consisted of 32 questions regarding selected elements of their company’s business model. These elements were later used to provide an overview of the business models for the selected industry. Findings:Within such a capital-intensive industry under the spotlight of many external audits and under heavy legislation, following the issued legislation becomes a competitive advantage. The majority and minority business model constructs state the business model elements utilized by most of companies and vice versa. In effect the legislation and constant audits pushes companies towards more industrial safety and meeting environmental customer expectation while social expectations are being met by a smaller number of companies. Research/practical implications: The majority and minority business model constructs provide an overview of the current trends in the selected industry. Due to the narrow orientation of the research the results are very specific for these companies. Future research involves the creation of specific concepts based on individual elements contained in the minority business model. Other efforts will be focused on gaining access to specific performance data to pair it with its specific business model, thus providing evidence on how different configurations of business models affect social, environmental and economic performance. Originality/value:Business model research is often constricted to case studies of one or a fewcompanies. Few works have focused on studying an industry through the lens of its business models. Also, few works have studied the connection of specific business model elements and sustainability multiple value creation.

Digitalization’S Impact on Lean Global, Start-Up Firms’ Internationalization Speed

Digitalization’S Impact on Lean Global, Start-Up Firms’ Internationalization Speed
(Digitalization’S Impact on Lean Global, Start-Up Firms’ Internationalization Speed)

Author(s):Michael Neubert
Language:English
Subject(s):Social Sciences, Economy
Page Range:765-775
No. of Pages:11
Keywords:International business; international management; big data analytics; market entry decisions; international entrepreneurship
Summary/Abstract:Purpose:This paper aims to understand the impact of digitalization on international, lean, global start-ups’ speeds (LGS). It closes a gap in the literature by defining better the benefits and the impact of digitalization on the speed of internationalization and models regarding the international market evaluation process. Furthermore, it outlines why and how digitalization is important throughout the internationalization process, and it expands the study of international management and business by including a broader and deeper range of digitalization aspects than is normally found in the international management and business literature. Design/Methodology/Approach:The paper opted for a qualitative multiple case-study research design using different sources of evidence, including 51 responses from senior managers of lean, global, start-up firms. The case-study firms were selected using a simple random sampling method. The data were collected in September and October 2017, and analyzed using grounded theory to develop categories and to understand consistencies and differences. The revised Uppsala internationalization process model was used as the theoretical framework to analyze the impact of digitalization on the speed of LGS internationalization. Findings:The paper provides empirical insights about the impact of digitalization on the speed of LGS internationalization. Digitalization allows LGS to increase decision-making efficiency and to optimize international market evaluation strategies and processes. It suggests that international managers act as “integrating forces” on several levels: by applying a disciplined and structured internationalization process with regular reviews, by mediating between local market realities and corporate goals, understanding the limits and benefits of digitalization, and optimizing decision-making. Research/Practical Implications:The findings are relevant for researchers, scholars, managers, and policy makers who support activities that promote digital engagement, to understand better the impact of digitalization on the speed of LGS internationalization, to increase the efficiency of decision-making processes, and to optimize international market evaluation strategies, processes, training, and (financial) support projects. Future scholarly work might also include quantitative assessments of subject-matter experts’ (SMEs’) perceptions, whose qualitative data can provide greater clarification of the study’s statistical significance or replicate it with other SME from different industries and markets. Originality/Value:This paper fulfills an identified need and a call for research to study the impact of digitalization on the speed of LGS internationalization.

The Survey of Entrepreneurs in the Comprehensive Assessment of Competitive Environment

The Survey of Entrepreneurs in the Comprehensive Assessment of Competitive Environment
(The Survey of Entrepreneurs in the Comprehensive Assessment of Competitive Environment)

Author(s):Alexandr Yuryevich Kokovikhin, Andrey Yevgenyevich Plakhin, Ekaterina Sergeevna Ogorodnikova
Language:English
Subject(s):Social Sciences, Economy
Page Range:530-540
No. of Pages:11
Keywords:Competitive environment; entrepreneurship; competition development standard
Summary/Abstract:Purpose:This article aims to test the working hypothesis on the greater reliability of an integrated assessment of competitive environment combining statistical and polling methods of obtaining information.The objective was formed during the implementation of the research project introducing the competition development standard in Sverdlovsk region. Design/methodology/approach: The assessment of objective indicators was carried out through thesystem of market analysis and with the assistance of "SPARK-Interfax"companies. The Herfindahl-Hirschman index was used to calculate revenues. The ratio of price growth to cost growth was calculated on the basis of the company’s financial reports.The quantitative studywas based on a broad survey which had beenconducted from December 2015 to February 2017. A total of 1187 questionnaires were sentto respondents, filled out and returned. The obtained results were further analyzed with the Chi-square test. Findings:Throughout the research, rankings werecarried out in conformity withthe level of competition development ofsocially significant markets in Sverdlovsk region.We haverevealedthe ambiguity of the competitive situation assessment with the use of statistical and survey methods of obtaining information. 2015 and 2016 were marked by theconsistency lack of the estimates of statistical and questionnaire methods for the social services market and certain segments of the educational services market. Weexplain this situation by a significant share of the grey sector that is not fullyaccountedin the statistics. Research/practical implications:According to the revealed discrepancies, we recommend the compulsory use of survey methods for competition analysis as they allow taking into account insider information and development tendencies of illegal segments of educational and social services markets. Originality/value:The presented study uses a unique set of regional-level data and facilitates a comprehensive method for assessing the competitive environment of regional markets. The above-mentioned method was tested on the materials obtained for the Ministry of Investments and Development of Sverdlovsk region from 2015 to 2017.

Impact of Business Intelligence on Export of Software Firms

Impact of Business Intelligence on Export of Software Firms
(Impact of Business Intelligence on Export of Software Firms)

Author(s):Michael Neubert, Augustinus (Stijn) van der Krogt
Language:English
Subject(s):Social Sciences, Economy
Page Range:776-786
No. of Pages:11
Keywords:International business; international management; international entrepreneurship; business intelligence; Paraguay
Summary/Abstract:Purpose:The paper aims to understand the use and expected impact of business intelligence on Paraguayan ICT firms’ export performance. This paper contributes to the literature to better understand the use, benefit, and impact of business intelligence on export performance. It proposes a modelling evaluation framework for the international market and outlines the importance of business intelligence in the whole process. The study includes broader aspects in addition to those found in the study of international management and business intelligence. Design/methodology/approach: This paper adopted a multiple case-study research design using different sources of evidence,including 15 responses from subject-matter experts (SMEs). The subject-matter experts (SME) were selected using a purposive sampling method. Data collected in November and October 2017 were analyzed using grounded theory to develop patterns and categories, and to understand differences and consistencies. The revised Uppsala internationalization process model is used as a theoretical framework to analyze the use and impact of business intelligence on export performance and internationalization. Findings: Thispaper provides empirical insights on the impact of business intelligence in the sense of big data and predictive analytics on the export performance of ICT firms. Although only a few SMEs currently use business intelligence solutions in terms of big data and predictive analytics to support international strategic decision-making processes, the majority indicate their intention to use business intelligence solutions in expectation of positive impact on export performance and international competitiveness.The main factors for selecting a business intelligence solution are transparency of cost and benefits, an excellent client service and an attractive pricing model. Research/practical implications: The study results are relevant for policy makers, researchers, and international managers, who support the development, training, and application of business intelligence systems and its impact on the export performance and internationalization of Paraguayan ICT firms. Future scholarly work should include quantitative assessments of SME perceptions and quantitative data to provide greater clarification of the statistical significance of the variables of this study or to replicate it with other SMEs from different industries and countries. Originality/value:The paper fulfils an identified need and a call for research to study the use and impact of business intelligence on export performance and the competence to globalize Paraguayan ICT firms.

The Use of Cryptocurrency in Enterprises in Czech Republic

The Use of Cryptocurrency in Enterprises in Czech Republic
(The Use of Cryptocurrency in Enterprises in Czech Republic)

Author(s):Andrea Kolková
Language:English
Subject(s):Social Sciences, Economy
Page Range:541-552
No. of Pages:12
Keywords:Cryptocurrencies; bitcoin; ethereum; litecoin
Summary/Abstract:Purpose:The aim of this paper is to show the potential useand possibilitiesof cryptocurrenciesfor enterprises.This includes the accounting and legal aspects of this new phenomenon. The application will focus on one of the ways to exploit cryptocurrencies, namely CFD contracts. Design/methodology/approach:The article describes the capabilities and tools for using cryptocurrency for entrepreners. Selected cryptocurrencies are subjected to statistical analyzes, and so analyze the daily values of the exchange rates from the time of the occurrence of the given cryptochange. Based on the data of selected cryptocurrencies, the possibilities of speculation with cryptocurrency for entrepreneurs are subsequently proposed in the article. Findings:Entrepreneurscan also use cryptocurrenciesto pay for ordinary businesses in a number of ways without the use of above-standard computing. At thepresent time, the greater spread of cryptocurrencies payments defends them high volatile and relatively large charges.Thecryptocurrenciescan be use entrepreneurs for trading. Research/practical implications: In the Czech Republic there is a relevant legal regulation that allows transactions to be carried out in cryptocurrenciesin accordance with Czech law, using appropriate electronic sales records. The issue contains many other topics for research. Originality/value:Cryptocurrencies are consideredthe biggest innovation in the financial markets over the last 20 years.The use of these entrepreneur’s tools has been smallfor now;however,they maystill be a tool to develop enreprenurin the financial markets.

Identification of Global Value Chains Impact on Czech Manufacturing Industry

Identification of Global Value Chains Impact on Czech Manufacturing Industry
(Identification of Global Value Chains Impact on Czech Manufacturing Industry)

Author(s):Inka Neumaierová, Ivan Neumaier
Language:English
Subject(s):Social Sciences, Economy
Page Range:787-797
No. of Pages:11
Keywords:Global Value Chains; imports content of exports; manufacturing; I-O tables
Summary/Abstract:Abstract Identifying the impact of Global Value Chains (GVCs) is rather challenging as their activities go beyond national states while statistical monitoring is closed within national statistics. In addition, willingness of GVCs to provide information is limited. In order to map the influence of GVC we used the indirect method, with the help of three Input-Output (I-O) indicators of manufacturing industry in Czech Statistical Office (CSO) tables for years between 1990 and 2013. Purpose:The reason for writing thisarticle is the fact that there is a lot of talk about the influence of global value chains (GVC) on the economy of the Czech Republic, but there are few data analyses to support this debate. The aim of the article is to analyse the influence of GVC on manufacturing industry in the Czech Republic. Design/methodology/approach:In order to map the influence of GVC we used the indirect method (Ordinary Least Squares), with the help of three Input-Output (I-O) indicators in CSO tables: the import demand of exports, the share of added value in production and the total share of exports in resources. The sample is represented by all businesses in manufacturing industry in the Czech Republic. Through trends in the values of the indicators researched we verified the assumption that GVC put businesses in the territory of the Czech Republic into the assembly or production sector. Findings:We have ascertained that in the time period in question the share of businesses under foreign control in manufacturing industry increased from zero to the majority of production. The results show the suitability of our assumption, primarily in the case of the import demand of exports. The total share of exports in resources indicator proved to be generally appropriate. Using the share of added value in production can be recommended for identifying GVC less. Research/practical implications:The results show the consequences of involvement in GVC for individual sectors of manufacturing industry in the Czech Republic. They are a challenge for considering how to get optimally involved in GVC. A proposal for future research is to perform the calculations for all sectors in the Czech Republic and also for similar economies, such as Slovakia, Hungary, etc. Originality/value:Identifying the influence of GVC is fairly demanding, as their activities exceed the limits of national states, whereas statistical monitoring is closed as a part of national statistics. In addition, their willingness to provide information is limited. It is original analytical and data material that provides evidence of the influence of GVC on manufacturing industry in the Czech Republic.

Forms of Employment in SME Sector – Example from Slovakia

Forms of Employment in SME Sector – Example from Slovakia
(Forms of Employment in SME Sector – Example from Slovakia)

Author(s):Enikő Korcsmáros
Language:English
Subject(s):Social Sciences, Economy
Page Range:553-563
No. of Pages:11
Keywords:SME; employment; atypical forms of employment; Slovakia
Summary/Abstract:Purpose: The rapidly changing market conditions of the 21st century caused the introduction of new forms of employment too. These forms of employment can be characterized by a distinct mark in terms of typical 8-hour employment, which is typical of the past. The basic aim of the research is to map the employment forms realized by small and medium-sized enterprises, especially the so-called atypical forms of employment. Design/methodology/approach:To achieve the aim of the research author have collected the data by completed questionnaire on sample of 320 SMEs. The primary data collection was implemented in the first half of 2017. Cross table, Chi-square test, standard deviations were used to verify the hypothesis based on two analysed assumptions. Findings:According of the results of this analysis there were no difference between the variables (the popular of the atypical patterns of the employment and the age of the company). Reflected in the value of standard deviation of the respondents’ opinion the most common reason the respondents mentioned were the administrative border and the management decision to insist on traditional patterns of employment. Research/practical implications:Based on our primary research we defined, that age of the company cannot predict how widespread the atypical employment patterns are within the company. Rejection of our assumption implies a further question regarding the age of the company and the presence of atypical employment patterns in the company. The most common reason why companies do not choose atypical patterns of employment were the administrative burden and the management decision. Originality/value: The original contribution and the main added value of the paper is mapping of the current situation in the SME sector in Slovakia regarding the applied forms of employment policy. Examining forms of employment within the SME sphere abstains in Slovakia. This is a complex problem of exploration,since neither the theoretical background is unclear about atypical forms of employment.

The Relationship Between Customer Leverage and Process Innovation: an Empirical Investigation in Global Manufacturing Industry

The Relationship Between Customer Leverage and Process Innovation: an Empirical Investigation in Global Manufacturing Industry
(The Relationship Between Customer Leverage and Process Innovation: an Empirical Investigation in Global Manufacturing Industry)

Author(s):Hung Nguyen, Norma Harrison
Language:English
Subject(s):Social Sciences, Economy
Page Range:798-810
No. of Pages:13
Keywords:Leverage; customer knowledge; knowledge management and innovation
Summary/Abstract:Purpose:With the current unpredictable and turbulent business environment, manufacturers are leveraging customer knowledge as the source of innovation and competitive advantage. Drawing upon the knowledge-based view, this studyargues that customer leverage is the source of firms’ process innovation and has a positive impact on manufacturing performance. Design/methodology/approach:The empirical study included results from 650 manufacturers in 10 countries, including more than twenty manufacturing industries. The conceptual framework and hypotheses are then derived from literature review, in particular, the theory of knowledge-basedview and transaction cost economics. A structural equation model was used to test the hypotheses. Findings:The empirical results showed a strong association between a manufacturing firm’s customer leverage and its process innovation and performance. Process innovation acts as mediating roles in absorbing and transforming customer knowledge in improving costs and financial measures. In a more dynamic market, customer leverage strengthens the positive impacts on process innovation. Research/practical implications:These results extend the limited existing research on global manufacturing context that the customer knowledge are effective sources for increasing innovative processes. The higher the market turbulence, the stronger the pressures for customer leverage demanded by process innovation. The findings also confirm that process innovation plays a mediating role in absorbing and transforming customer knowledge in improving costs and financial measures. This is an important result that highlights the mechanism by which customer knowledge can influence a firm’s bottom line. Originality/value: This studyexamined the linkages between a marketing concept and operations and supply chain management.

China’S Policy for Special Economic Zones and its Implications for the Development of Entrepreneurship in the Russian Far East

China’S Policy for Special Economic Zones and its Implications for the Development of Entrepreneurship in the Russian Far East
(China’S Policy for Special Economic Zones and its Implications for the Development of Entrepreneurship in the Russian Far East)

Author(s):Viktoriia Koretskaia-Garmash
Language:English
Subject(s):Social Sciences, Economy
Page Range:564-576
No. of Pages:13
Keywords:Special economic zones; entrepreneurship; workforce; Far East
Summary/Abstract:Purpose:This studyis aimed at exploring the experience accumulated by China in creation and operation of special economic zones (SEZs) and the potential application of this experience for the development of entrepreneurship in municipalities of the Russian Far East. One ofthe key goals in this process is to identify the type(s) of economic zones that would be optimal for this region. Design/methodology/approach: In our research, we used the historical method to study Chinese experience of creating different types of economic zones. After analysing a variety of sources, we identified the factors underlying the success of Chinese economic zones and thus selected the optimal SEZ types for the Russian Far East. We also conducted a correlation and regression analysis to determine the interconnection between the socio-economic development of municipalities in the Far East and the economic performance of small businesses in these areas. Findings: The Chinese approach to creating SEZs can be effectively applied to establish a customs cooperation area on the Russian-Chinese border in the Jewish Autonomous Region to stimulate the development of this economically depressed territory through international trade and entrepreneurship; to create jobs and, therefore, increase the income of the local population; and to attract highly qualified specialists to the region. Research/practical implications: The results of this research can be used by municipal governments participating in the SEZ experiment in the Jewish Autonomous Region. Originality/value: The author uses methodology to analyze the indicators that show the efficiency of small businesses and individual entrepreneurs in municipalities of the Russian Far East. The municipalities are assessed depending on their performance on each indicator, which reveals their strengths and weaknesses that should be addressed by the regional and federal authorities. The optimal types of economic zones are determined by analyzing the relevant Chinese experience and the Russian legislation.

Educational Antecedents of Entrepreneurs‘ Cognitive Styles in New Venture Financing Decisions

Educational Antecedents of Entrepreneurs‘ Cognitive Styles in New Venture Financing Decisions
(Educational Antecedents of Entrepreneurs‘ Cognitive Styles in New Venture Financing Decisions)

Author(s):Hanna Nowak
Language:English
Subject(s):Social Sciences, Economy
Page Range:811-820
No. of Pages:10
Keywords:Institutional context; educational factors; entrepreneurial cognitions; venture creation; financing decisions
Summary/Abstract:Purpose: The aim of the research was to verify the relationship between the educational patterns understood as antecedents of cognitive styles of entrepreneurs, and their decisions regarding type of venture creation and development’s sources of financing. Design/methodology/approach: 87micro and small firms from the Wielkopolska region in Poland were selected from the database of enterprises which received institutional support. The sample was divided into two groups of enterprises according to the received type of financing: non-repayable subventions or repayable aid (e.g. credits, loans), which are supposed to represent different ways of entrepreneurial thinking (cognitive styles). Non-parametric test (Chi square) was used to verify the relationship between educational antecedents (different patterns of the entrepreneurial knowledge and skills’ acquisition) and venture financing decisions. Findings:The results do not suggest the statistically important relationship between venture financing decisions and educational factors, such as: level of education and patterns of the entrepreneurial knowledge and skills acquisition (e.g. general formal education, self-education or family-transferred knowledge). The statistically important significance was found in cases of trainings or courses and additional forms of formal education (e.g. postgraduate studies and professional courses). Research/practical implications:The research suggests that educational factors which help in gathering specific (no general) entrepreneurial knowledge and skills can differentiate the styles of venture financing decisions. The difference may be related to the previous cognitive characteristics of individuals (e.g. ability scripts, self-confidence or risk-taking attitude). Originality/value: The paper contributes to the relatively limited research in the field of entrepreneurial cognitions in CEE economies, especially to the study of antecedents of entrepreneurial styles of thinking and financial decision-making.

Key Competencies in Sustainability: Assessment of Innovative Factors Influencing the Development of Human Resources in Health Care System

Key Competencies in Sustainability: Assessment of Innovative Factors Influencing the Development of Human Resources in Health Care System
(Key Competencies in Sustainability: Assessment of Innovative Factors Influencing the Development of Human Resources in Health Care System)

Author(s):Irina Kostadinova, Diana Antonova
Language:English
Subject(s):Social Sciences, Economy
Page Range:577-590
No. of Pages:14
Keywords:Sustainability; innovations; emotional & social intelligence; competencies
Summary/Abstract:Purpose:This study presents the review of the innovative solutions for sustainability in human resource management. It demonstrates a discussion issue -how the development ofemotional and social intelligence (E&SI) as a key competence for sustainability can reveal new opportunities for improving the achievements of human resources in health care. Answers are sought through the creation and implementation of a methodology for studying the impact of E&S intelligence as a factor for enhancing the professional competence of physicians. Design/methodology/approach:The paper research design is qualitative and quantitative analysys and characterization of medical work as well as theinfluence of E&SI on revealing the possibilities for individual and organizational change. The assesment is viewed as part of the sustainable development of human resources. A methodological tool (questionnaire) has been developed to identify and evaluatethe possibilities for enhancing the results of medical work through the development of a key competence -the emotional and social intelligence of the physicians in order to improve their individual economic, medical and social results, and hence the organization, in which they work. Findings: After conducting a social experiment in two treatment clinics in Bulgaria and carrying out 360-degreeinterviews with the managers (100% of the management staff of the two clinics), doctors (80% of doctors in both clinics) and patients (8% of the lying patients) presented evidence of the importance of key competences -E&SI, as an innovative factor for improving the human resources performance in the medical organizations. In order to prove the sustainability of thekey factor, indicators for comparative analysis of the results from applying a methodology assessing the impact of E&SI on improving the medical doctors’ integrated competence have been systematized and classified. Research/practical implications:The applicability of the proposed methodological approach and methodology was confirmed by the interviews with the target groups (in the last trimester of 2016) and the social experiment (October 2016 -September 2017). The place of the research is the Pnevmotipsi Clinic in Ruse and Pleven -Bulgaria. The results are summarized and the possibilities for increasing the individual professional competencies of the medics have been demonstrated by increasing the E&SC as a key factor for the sustainability of the investigated health institutions. The paper provides evidence that the proposed key competences could be used for further research on sustainability issues of the organizations. Originality/value: Firstly, empirical evidence is applied to measure E&SI impact on the integrated competence of doctors by a "360° questionnaire evaluation" through an own questionnaire based on Goleman's competency model in real hospital care organizations. A complex adapted model for E&SI as an innovative factor in the sustainability management has been appraised by comparing the results by elements of the integrated competence model and the indicators of their activity for establishing organizational change in the hospitals observed

Does Environmental Cost Affect Japanese Firms’ Performance

Does Environmental Cost Affect Japanese Firms’ Performance
(Does Environmental Cost Affect Japanese Firms’ Performance)

Author(s):Nila Nuzula
Language:English
Subject(s):Social Sciences, Economy
Page Range:821-830
No. of Pages:10
Keywords:Environmental cost; Japan; Environmental Accounting Guidelines; profitability; firm value
Summary/Abstract:Purpose:This article aims to examine the effect of environmental cost to financial performances, measured by profitability and firm value in Japanese chemical industry during 2012-2015. Examining about this matter in Japan case is suitable since the government has settled guidelines that assist the companies to record and report their activities in environmental preservation. This study focuses on chemical industry in Japan because the industry has been potential to create hazardous wastes along with its daily businesses. In Japan, the companies are involved in Japan Chemical Industry Association (JCIA) that initiates international environmental programs called Responsible Care. Design/methodology/approach:This study uses 27 chemical companies listing in Japan Exchange Group (JPX) first section during 2013-2015 periods or 81 company-year. Environmental data is taken from the websites of eachcompany. Independent variable of this study is environmental cost, measured by the amount of environmental costs spent by the companies as stated in their annual sustainability reports. There are five dependent variables, i.e. Return on Asset (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Price to Earnings Ratio (PER), and Tobin’s Q. The author then runs five times regression analysis to examine whether environmental costs affect five dependent variables. Findings: The results show that: 1) environmental cost is negatively affecting ROA; 2) environmental cost has no effect on ROE; 3) environmental cost is negatively affecting NPM; 4) environmental cost has no effect on PER; 5) environmental cost is influencing Tobin’s Q negatively. Research/practical implications:This study helps to determine whether the company could take benefit from financing environmental activities. Managers should acknowledge that if the companies spend greater costs on environmental programs, it might deteriorate the profitability measured by ROA and NPM. The costs could decline Tobin’s Q, the proxy for firm value, as well. Originality/value: Theresults allow readers to grasp that environmental financing affects profitability measured by ROA and NPM, instead of ROE. This study fills the gap of profitability and firm value indicators which are significantly affected by firms’ strategies on environmental programs.

Balanced Scorecard as a Tool for Research and Development Performance Management–A Case Study in an Agriculture Company

Balanced Scorecard as a Tool for Research and Development Performance Management–A Case Study in an Agriculture Company
(Balanced Scorecard as a Tool for Research and Development Performance Management–A Case Study in an Agriculture Company)

Author(s):Marie Kubáňková, Jaroslava Hyršlová, Jan Nedělník
Language:English
Subject(s):Social Sciences, Economy
Page Range:591-601
No. of Pages:11
Keywords:Research and development; Balanced Scorecard; strategic management accounting
Summary/Abstract:Purpose:The growing number of research oriented to research and development (R&D) performance reflects broad debates dedicated to R&D evaluation, measurement of its effectiveness related to competitiveness and also R&D added value and cost management. Therefore,many authors call for research focused on the implementation of strategic management accounting tools, primarily the Balanced Scorecard (BSC) used as a R&D management tool in small and medium-sized enterprises (SMEs). The aim of this paper is to contribute to the empirical knowledge of implementation of strategic management accounting tools in R&D performance management, with a primary focus on the BSC implementation in SMEs. Design/methodology/approach:The purpose of this paper is to propose a procedure for R&D performance management tailored for SMEs based on BSC. This paper also intends to be an inspiration for further research in this area. As a case study method is recommend by the literature when a particular management tool is a desired output, the case study was provided in a case company. The investigation lasted nine weeks, three key steps can be recognized: (1) reference framework development; (2) strategic goals of the case company and the status quo of R&D management identification (3) development a BSC for the case company. Findings:The case study concludes the BSC proposal as a system of interrelated indicators and a procedure for R&D performance management. The indicatorstransform the strategic goals of the company into a set of corresponding R&D goals. Hereby this paper responds to the challenges endorsed by the literature, specifically the call to investigate the implementation of BSC in R&D performance management. Research/practical implications:Empirical research of the practical implementation of strategic management accounting tools is of a crucial importance of the further development of this scientific discipline. Innovation management measurement as well as R&D performance management are subjects of interest for a number of expert studies. The ambition of this paper is to provide a procedure for SMEs how to manage R&D by BSC, and also to bring an inspiration for further research in this field. Originality/value: The added value of this paper is extension of the existing knowledge concerning the BSC used in the management of R&D performance.

Microfinance and Access to Finance of SMEs

Microfinance and Access to Finance of SMEs
(Microfinance and Access to Finance of SMEs)

Author(s):Györgyi Nyikos, Gábor Soós
Language:English
Subject(s):Social Sciences, Economy
Page Range:831-845
No. of Pages:15
Keywords:Microfinance; SMEs; financial instruments; EU Funds
Summary/Abstract:Purpose:The main objective of this study is to provide an overview of the situation of access to finance of SMEs in Europe and explore the regulatory and financial background of microfinance opportunities. Besides this general approach, the paper also aims to investigate the practical approach of EU Member States tothe issue of microfinance. As a result,it is expected that overall the efficiency of programmes financed from public funds will be increased through the adoption of best practices in European countries. Design/methodology/approach:Research is being carried out using information provided by ten INTERREG project partners from seven different EU Member States and Norway, including managing authorities, microfinance institutions and enterprise development organisations. Stakeholders were interviewed throughsurveys and stakeholder group meetings (twelve meetings per partner), while their experiences are shared in study trips (up to six per partner) and local workshops (up to five per partner). Publicly relevant data and the academic literature related to microfinance has been also reviewed. In-depth analysis in six EU Member States (Hungary, Italy, Germany, Spain, Croatia, Poland), representing regions at various levels of development, has also been carried out. Findings:It has been found that the lack of commercial sources of finance is still a problem for a number of European SMEs. The main problem is that many firms are deemed non-bankable by commercial banks. Nevertheless,governments have intervened to support these firms and promote microfinance initiatives. These are provided typically from national or EU sources, such as ESIF Funds, while various regional initiatives also exist in the countries investigated. Research/practical implications:The research addresses some important regulatory and practical issues with microfinance that can prove invaluable for researchers, policy-makers or even financial institutions. The comparative analysis of Member State solutions can also provide an inspiration for other countries considering the introduction of microfinance initiatives. It is expected that following the publication of the results of the research, policy instruments related to microfinance will be improved and there will also be new projects aiming at tackling at enterprise development or improving the access to local microfinance programs.Originality/value: The paper presents original research in the field of practical issues and solutions in microfinance, providing an invaluable insight into the approach of six different EU Member States.

Social (Ir)Responsibility of Professional Sports Clubs

Social (Ir)Responsibility of Professional Sports Clubs
(Social (Ir)Responsibility of Professional Sports Clubs)

Author(s):Vilém Kunz
Language:English
Subject(s):Social Sciences, Economy
Page Range:602-613
No. of Pages:12
Keywords:Sensitive industries; social responsibility; sports industry; sports sponsorship
Summary/Abstract:Purpose:The aim of the paper is to present the current situation in some issues of socially (ir)responsible behaviour, especially in the management of professional sports clubs from the highest domestic league competitions or the English Premier League, while also trying to focus on their approach to sponsorship issues, especially to sponsors from the so-called socially sensitive sectors. Design/methodology/approach:To analyse the application of CSR in sports clubs, football and hockey are chosen from collective sports, as the highest amount of sponsors is interested in this sector. Premier League was chosen not only because of the greatest interest of sponsors, but also because it has long been considered a leader in the application of CSR. In addition to the content analysis of the relevant information, which clubs present on websites, individual semi-structured interviews with managers of selected clubs were also carried out. Findings:Premier League football clubs carry out a number of CSR activities, focusing on community programs in particular.In the Czech Republic, CSR activities are being implemented mainly by the most economically strong clubs. Sponsors of football clubs in England, similarly to sports clubs in the Czech Republic, include, in particular, companies in intensive competition, sports goods producers and gambling operators. Research/practical implications: Achieved results can not only be a valuable reflection to think about the further direction of attitude towards sponsors not only for the selected clubs but also for managing executive sports authorities that are likely to be under greater pressure from stakeholders observing for the principles of responsible and ethical behaviour. Originality/value:The paper brings not only current data but also comprehensive findings on the situation in the field of sports sponsorship in the most popular collective sports in the Czech Republic andcomparing them to the findings from the British football environment.

Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms

Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms
(Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms)

Author(s):Samuel Amponsah Odei
Language:English
Subject(s):Social Sciences, Economy
Page Range:846-856
No. of Pages:11
Keywords:Innovation; knowledge; innovation performance; Slovakia; Hungary
Summary/Abstract:Purpose:This paper seeks to examine the various sources of knowledge and innovation that Slovakian and Hungarian manufacturing firms rely on to improve their innovative performance. Design/methodology/approach:The multiple regression technique was employed using data from the community innovation survey conducted between 2010 and 2012. A sample of 3,576 manufacturing firms was used in the analysis. Their innovation performance was measured using their turnover to the market as the dependent variable and the sources of innovation as the independent variables. Findings:The results of our empirical analysis demonstrated divergent results for both countries. Slovak firms derived their innovation from in-house activities and other sources such as from scientific journals and conferences whilst Hungarian firms relied on market sources such as cooperation with clients or customers from the private sector for their innovation as well as from scientific journals. However,there was a convergence in the results, manufacturing firms in both countries didn’t collaborate with research institutions such as universities and other public and private research organisation for their innovation. Research/practical implications:The result of the analysis has demonstrated that Slovak and Hungarian firms didn’t depend on knowledge and innovation hubs for their innovation. This study therefore proposes firms to foster closer collaboration with these institutions since they are the birthplaces of innovation that can increase their competitiveness and innovation performance. Originality/value:This study found out that there was a limited study on the sources of innovation that firms in both countries rely on. This study therefore contributes to the literature on innovation in these countries

The Ephemeral Corporate Social Responsibility Committment Pursuant to Annual Reports –A Czech Case Study

The Ephemeral Corporate Social Responsibility Committment Pursuant to Annual Reports –A Czech Case Study
(The Ephemeral Corporate Social Responsibility Committment Pursuant to Annual Reports –A Czech Case Study)

Author(s):Radka MacGregor Pelikánová
Language:English
Subject(s):Social Sciences, Economy
Page Range:614-623
No. of Pages:10
Keywords:Corporate social responsibility (CSR); annual report; sustainability
Summary/Abstract:Purpose:The objective of this paper is to determine the international, EU and Czech national legal framework and, based on that, to empirically and comparatively assess the corporate social responsibility (“CSR”) commitment of the ten largest Czech companies, by sales, as witnessed by their annual reports in the context. Design/methodology/approach:The authors have identified theoretic and practical perceptions of the CSR, have conducted a holistic and interdisciplinary research and teleological interpretation of legislative and academic, primary and secondary, sources. They identified the legal framework for the content, form and publication requirements for annual reports of companies, while paying attention to the CSR. They used Meta-Analysis to scrutinize annual reports, for 2016, of the 10 largest Czech companies to assess their CSR commitment. They have implied current trends in the perception and approach to the CRS. Findings:The evolving perception of the CSR is, despite global and regional harmonization efforts, as yet unsettled. The Czech law appears to demand the general and gratuitous e-publication of annual reports with basic CSR data, while the EU law and other EU member states’ law seems to impose a rather special and deeper CSR reporting, not necessarily fully and freely available online. The Czech Case study reveals both the observance of the law and significant differences in the CSR commitment across industries. These legislative and real reporting discrepancies suggest modifications of the current status quo to fit in Europe 2020. Research/practical implications: Our review of legislative frameworks and practical approaches to the CSR demonstrates a number of discrepancies and the lack of commonly acceptable denominators. Our case study confirms it, points to the industry differences and invites for the modification of the approach and legislation of the CSR reporting. Originality/value:The presented overview, assessment and case study exploit, in a unique manner, the CSR legislation and perception, and call for changes fitting in Europe 2020.

Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women

Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women
(Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women)

Author(s):Dominika Ochnik
Language:English
Subject(s):Social Sciences, Economy
Page Range:857-866
No. of Pages:10
Keywords:Leadership; vocational interests; gender differences; entrepreneurial attitude; vocational social clock
Summary/Abstract:Purpose:The aim of this study is exploringhow leadership interests are shaped across age and gender and to reveal individual factors (personality and entrepreneurial attitude orientation) of leadership vocational interests. Methodology: The research is based on Contextual Model of Vocational Interests and consists of 3 studies. In Study 1 leadership vocational interests were measured by Vocational Potential Inventory, across age and gender within 9359 participants. Study 2 shows personality dimensions as predictors of leadership vocational interests within 190 participants. Study 3 refers to relations between entrepreneurial attitude orientation and leadership vocational interests among 98 participants. Findings: Two-way Anova (gender x age) in Study 1 showed significant effect for gender, with men scoring higher in leadership vocational interests. The effect of age was significant in men only, the older they were the higher leadership vocational interests they presented. Regression analyses in Study 2 showed high conscientiousness, low neuroticism and high extraversion as predictors explaining leadership vocational interests in 31%. Regression analyses in Study 3 revealed that high entrepreneurial attitude orientation and being a man are predictors explaining leadership vocational interests in 13%. Implications: A series of surveys allowed to positively verify the Contextual Model of Vocational Preferences (Ochnik, 2017), in which leadership preferences are shaped by individual factors: personality and entrepreneurial attitude. The research allows to implicate that in the scope of leadership vocational interests, the social vocational clock -reflecting patterns of social roles related to gender and age as well as cultural factors, is more significant among men. Originality: The Contextual Model of Vocational Interests and the concept of vocational social clock have been introduced. The studies revealed that gender differences in leadership preferences are not stable. After introducing individual factors into the model, the gender dimension is reduced, in particular with regard to personality. Entrepreneurial attitude turned out to be relevant predictor but weaker than Inaddition, it can be concluded that in the future,leadership preferences will be less and less attractive to men, which may be reflected in reduced gender inequality in managerial positions.

Value Generators of Enterprises in the Processing Industry

Value Generators of Enterprises in the Processing Industry
(Value Generators of Enterprises in the Processing Industry)

Author(s):Veronika Machová, Zuzana Rowland
Language:English
Subject(s):Social Sciences, Economy
Page Range:624-634
No. of Pages:11
Keywords:Value generators; artificial neural networks; economic value added; processing industry
Summary/Abstract:Purpose:The purpose of this article is to find out value generators of industrial enterprises having operated on the Czech market in 2015. Design/methodology/approach:The analysed data come from Albertina database. The dataset (data of their complete financial statements) contains records of 500 enterprises altogether. We calculateEVA value for shareholders (owners) of each enterprise of its operation on the market. Data mining and automated neural networks (radial basic function and multilayer perceptron networks) will be used as major tools. Findings:A reliable method was developed,and value generators of industrial enterprises having operated in the Czech Republic in 2015 were identified. The most important variables were defined. They are long-term receivables, material and energy consumption, power consumption, equity and basic capital. Research/practical implications:Enterprises of the processing industry should mainly focus on suggested value generators, their management and optimization. Thus, they get a higher EVA Equity and reach their major goal –value growth for shareholders (owners). Originality/value: As a result, verifying the method for identifying value generators and appreciating their importance in the model should be considered as the most important part.At the same time, four central problems, which need to be dealt with within the further research, have been identified. They are wise choice of variables, dependence (or independence) of variables, size of the data file and stationarity of the data

Economic Potential of SMEs in the Regional Context of the Czech Republic

Economic Potential of SMEs in the Regional Context of the Czech Republic
(Economic Potential of SMEs in the Regional Context of the Czech Republic)

Author(s):Veronika Humlerová, Petra Pártlová
Language:English
Subject(s):Social Sciences, Economy
Page Range:867-877
No. of Pages:11
Keywords:SMEs; structural funds; regional development; self-employment
Summary/Abstract:Purpose:The aim of the paper is to discuss the current situation of small and middle-sized enterprises and their viability, possible trends and development in different regions. The paper deals with the financial subsidies of the European Union used by small and middle-sized enterprises and the absorption capacity –whether the enterprises used up the subsidies during the project. Design/methodology/approach: The paper applied the statistical analysis of sample indicators, their comparison regarding different territorial units and a follow-up synthesis. Data was purchased from Ekotoxa. Part of the data was from the 2007-2016 Structural Funds outlook survey report available from the Ministry of Regional Development survey. The adjustment of time series of sample indicators was carried out, using trend functions, such as the trend of progressivity of the economic structure. Cartographic outputs were created by ArcGISprogram. Findings:The cartogram for the Czech Republic revealed that regions with a high index ofprogressivity of economic structures are polarized areas around major cities (see the regions of Praha, Karlovy Vary, Central Bohemia, Moravian-Silesian region). Increasing progressivity, sophistication, knowledge and technological demands of economic activities increase their concentration is in the most advanced metropolitan regions. Examples of such trend include location of large companies, progressive tertiary sector, and company headquarters of high-tech manufacturing industries. These progressive regions were able to make the best use of subsidy policies in the 2007-13 programming period, their position and trend could be strengthened. Research/practical implications:As shown by the results of out research, different regions report great disparities, both regarding the development of SMEs and their ability to use the subsidy schemes of the European Union. The most important leaders, except Prague region are the enterprises in the regions of South Moravia, Central Bohemia, Oloumouc and Ústí nad Labem. The regions of South Bohemia, Plzeň and Pardubice were lagging behind (during the research period of ten years). These results should be used as a guideline for current and subsequent periods, allowing more precise regional policy instruments in the future. Originality/value:The results use data that was processed into higher territorial units and thus they show the overall image and trend of the business sector (SMEs) in different regions. In addition, the progress of SMEs in the whole Czech Republic was analysed and, finally, the absorption capacity of individual legal forms was defined. The procedure shows the suitability and applicability of the individual grant titles. Furthermore,it shows the need for the dynamics and non-consistency of the sample indicators in different regions.

Impact of Online Retail on Economic Development in Russian Regions

Impact of Online Retail on Economic Development in Russian Regions
(Impact of Online Retail on Economic Development in Russian Regions)

Author(s):Maria Markhaichuk
Language:English
Subject(s):Social Sciences, Economy
Page Range:635-644
No. of Pages:10
Keywords:Electronic commerce; GDP; online trade; offline trade; electronic sales
Summary/Abstract:Purpose:The aim of this study is to determine the influence degree of the online retail on the economic development of the Russian regions in comparison with the effect of offline retail. Design/methodology/approach:Data on 85 Russian regions from Unified Interdepartmental Information and Statistical System (EMISS) of Russian Federation were taken as a basis for the research. The sample includes data on online retail turnover, offline retail turnover, gross regional product (GRP), gross regional product per capita (GRP per capita) for the 2014-2015 years. Panel regressions with fixed effects were employed and econometric models with dependent variables such as GRP, GRP per capita were estimated to fulfil research aim. Findings: The regression analysis showed the positive impact of both online and offline retail development on GRP and GRP per capita in the Russian Federation. Online sales have a stronger impact on regional development of the Russian Federation than offline sales. Research/practical implications: The policy makers can use the research results in the process of e-commerce policy targets setting in terms of increasing volumes of online (cross-border) trade. Originality/value:The study empirically proved the positive impact of online retail on Russian regions development and showed stronger impact of online sales on regional development of the Russian Federation than impact of offline sales.

The Busines Concept Map Compared to other Canvas Models

The Busines Concept Map Compared to other Canvas Models
(The Busines Concept Map Compared to other Canvas Models)

Author(s):Attila Petheő, János Vecsenyi
Language:English
Subject(s):Social Sciences, Economy
Page Range:878-889
No. of Pages:12
Keywords:Business model canvas; lean canvas; business concept MAP; entrepreneurship education
Summary/Abstract:Purpose:During entrepreneurship studies educators challenge students to develop their own business idea. Without previous experiences students are facing difficulties in defining business models/concepts. To help students/entrepreneurs, new tools have been developed. In this article three different tools/methods will be compared to satisfy today’s entrepreneurial need. Design/methodology/approach:In the last 7 years more than 2000 students got the assignment to build business model using one of the tools. We wereevaluating the quality and the content of the student home works andtested our new concept. Findings: In this methodology, instead of using the Business Model Canvas, another model, the Business Concept with six major building blocks was used. The model was further developed as a standalone tool called Business Concept Map published in a ‘How to cook type guidebook’ (Vecsenyi, Petheő2017). Research/practical implications:Vecsenyi (2011) developed a website (www.startmybusiness123.com) to support students and other future entrepreneurs to develop their business concept, analyze risks and make an educated decision on stopping, postponing or starting the implementation of their business idea. Originality/value:In this paper we would like to define, compare and differentiate the three tools. We would like to share our experience of using the tools by giving practical examples.

Innovation in the Context of Corporate Social Responsibility

Innovation in the Context of Corporate Social Responsibility
(Innovation in the Context of Corporate Social Responsibility)

Author(s):Ewa Mazur-Wierzbicka
Language:English
Subject(s):Social Sciences, Economy
Page Range:645-655
No. of Pages:11
Keywords:Corporate social responsibility; innovations; enterprise
Summary/Abstract:Purpose:The purpose of the paper is to analyze the links between innovative activity and the concept of corporate social responsibility from the perspective of Polish enterprises. The implementation of the aim dictated the paper's arrangement. At the outset, the issues of innovativeness, innovation, corporate social responsibility were brought about, then the issues of innovativeness from the perspective of Polish socially responsible enterprises were presented, and good socially responsible practices in the field of innovation undertaken by Polish enterprises were presented. Design/methodology/approach:The subject matter of the considerations undertaken in the paper is innovativeness in the context of corporate social responsibility from the perspective of Polish enterprises. The paper was based on the subject literature, secondary data and case studies. Findings:The implementation of the CSR concept in enterprises is a motive for undertaking and implementing various types of innovations, especially sustainable innovations.It should also be noted that enterprises regarded as innovative start to see potential future opportunities in CSR and decide to implement it. Certainly -as confirmed by the results of research conducted among Polish socially responsible enterprises -innovativeness and CSR are interdependent categories. Research/practical implications:The considerations carried out in the paper allow concluding that in the corporate social responsibility the potential of the source of innovativeness for organizations atthe economic, social and environmental levels is not yet discovered.It would be recommended to conduct further research of innovativeness and corporate social responsibility on a nationwide scale and to expand the research sample. It is important to pay attention not only to large enterprises, but also to the SME sector. Originality/value:The content presented in the paper allows looking at the relationship existing between innovativeness and corporate social responsibility from the perspective of Polishsocially responsible enterprises. The analysis of many good practices of the analyzed entities showed (surprisingly) a small number of those related to innovations, compared to other activities undertaken by socially responsible enterprises. It can be expected that both business standards and the very concept of corporate social responsibility will change in the coming years, which should give basis and impulse for innovations

Home-Based Business in Visegrad Countries: GEM Perspective

Home-Based Business in Visegrad Countries: GEM Perspective
(Home-Based Business in Visegrad Countries: GEM Perspective)

Author(s):Anna Pilková, Marian Holienka
Language:English
Subject(s):Social Sciences, Economy
Page Range:890-901
No. of Pages:12
Keywords:Home-based entrepreneurship; Global Entrepreneurship Monitor (GEM); Visegrad countries
Summary/Abstract:Purpose:Home-based businesses (HBB) represent considerable proportion within entrepreneurial activity in V4 countries, where more than half of early-stage entrepreneurs and fourin ten established businesses trade or operate primarily from home. However, empirical inquiry into this phenomenon in V4 region is scarce. Therefore, the aim of our study is to analyse main characteristics of home-based entrepreneurs and their businesseswithin the Global Entrepreneurship Monitor (GEM) perspective, to discover similarities and differences between home-based and non-home-based entrepreneurs and their endeavours. Design/methodology/approach: Our empirical study is based on GEM 2014 individual-level data obtained through adult population surveys in Visegrad countries. The main sample comprises of 524 home-based and 547 non-home-based entrepreneurs. These two sub-populations are compared in main attributes of individual entrepreneurs and theirbusinesses. The studied attributes were used to create sub-categories in which the proportion of home-based businesses was analysed and assessed for statistical significance using chi-square tests. Findings:There are several distinctive attributes differentiating home-based and non-home-based entrepreneurs and business activities in Visegrad region, as well as certain similarities. HBB is more popular among female and youth entrepreneurs, and a preferred solution for combined opportunity-necessity business entries. Also, HBBs are using the advantage of on-line trading, and represent a preferred choice for businesses in extractive sectors. On contrary, inclination towards HBB is not based on individual entrepreneurial attributes, and there is no linkage with business aspirations. Research/practical implications:HBBs seem to be an appropriate means to support inclusive entrepreneurship of women and youth. Also, they appear as a proper direction to support business in extractive sectors and on-line sphere. However, there is no justification for creating support to increase business aspirations preferably for HBBs, as non-HBBs would considerably benefit from such increase as well. We encourage further empirical inquiry into this phenomenon in Visegrad region,both on country-or regional level, as well as in terms of more detailed deeper explorations. Originality/value:Our study is, to our knowledge, the first comprehensive overview on home-based entrepreneurs and their business endeavours in Visegrad region. It discovers the main characteristics of this phenomenon and compares it to the rest of entrepreneur population. Thus, it helps to validate characteristics attributed to home-based businesses in the Visegrad region contexts, providing valuable insights to both policy making and academia.

Use of Business Model Canvas for Business in University Premises: Implementation of Theory into Practice

Use of Business Model Canvas for Business in University Premises: Implementation of Theory into Practice
(Use of Business Model Canvas for Business in University Premises: Implementation of Theory into Practice)

Author(s):Simona Megová
Language:English
Subject(s):Social Sciences, Economy
Page Range:656-668
No. of Pages:13
Keywords:Business model canvas; cocoa; business opportunity
Summary/Abstract:Purpose:The purpose of this study is to define a business model for a product sold on university premises. The product was the subject of research, respondents deserve hot cooked cocoa. In this article, Business Model Canvas as a tool for the opportunity of practical use. Design/methodology/approach:The research uses quantitative research methodology in the form of a questionnaire, which was distributed to students, i.e. customers. The questionnaire was completed by 560 respondents. Further, a qualitative research method was used in the form of structured interview specifying the results obtained in the quantitative research. 410 structured interviews were conducted. Findings:Within the questionnaire, student preferences were found. The questionnaire was directedto a product that would immediately reach. Among snacks and beverages, up to 71% of students want hot cooked cocoa. Structured interviewing has confirmed this finding. Structured interview is focused on applying the product to the Canvas Business Model Canvas. Research/practical implications:This whole idea of connecting a business model with the product was meant to lead to practical use. The purpose of this article is basically a concept for the product usage in practice by means of the business model. Originality/value:The business focus on university students represents the bottomless resource in respect to future. For students, this product represents a source of energy and health, as well as its nostalgic connection with childhood memory. The uniqueness of this article is based on a product that is demanded by students and not available on the market. This product, combined with the Business Model Canvas application, has a huge start-up potential

Factors Affecting on the Wage of Employees in Small and Medium Enterprises in Russian Regions

Factors Affecting on the Wage of Employees in Small and Medium Enterprises in Russian Regions
(Factors Affecting on the Wage of Employees in Small and Medium Enterprises in Russian Regions)

Author(s):Iuliia Pinkovetskaia
Language:English
Subject(s):Social Sciences, Economy
Page Range:902-911
No. of Pages:10
Keywords:SMEs; wageof employees; regression model; regions; Russia
Summary/Abstract:Purpose:The aim of the study was to assess the impact on the wages of employees in small and medium enterprises(SMEs) of factors that characterize the socio-economic situation of the regions where are located these enterprises. We discussed influence such factorsas unemployment rate, gross regional product, incomes of residents of the region and budget expenditures of the region. In order, to ensure a comparison wage in SMEs located in different regions, the calculations are based on relative indicators. In addition, were studied the ratio between wage of SMEs employees and the subsistence minimum legally established in the regions. Design/methodology/approach: The study used official statistical data Federal service of state statistics Russia in 2015. We used information on the actual average monthly wage of SMEs employees and indicators, which characterize social-economic position in each of the 82 Russian regions. So,in total we used 574 empirical observation. The research methods of regression and correlation analysis were used to analyze the aforementioned data. The paper offers two models: multiple nonlinear regression on the spatial data, which describes the impact of factors on wages, and function, characterizing ratio between wage of employees in SMEs and the subsistence minimum, established in the regions. Findings:The paper proves the relationship between the average monthly wage of employees of SMEs and factors such as the share of unemployment persons in the economically active population, average monthly income per one inhabitant, average monthly gross regional product per one inhabitant, and averagemonthly budget expenditure of region per one inhabitant. The paper shows that wage increases with the decrease of the first factor and the growth each of the other three factors. Presented ratio of average wage of employees SMEs and subsistence minimum in regions. Identified regions with insufficient level of wages in SMEs. Research/practical implications:The obtained new information and tools to assess the level of average wages in SMEs can be used in research on entrepreneurship, also for justification of programs for the development of this sector of the economy at the Federal, regional and municipal levels. The study provide regions authorities with information on the directions of wage increases in accordance with the Federal strategy for SMEs development thatinvolves an increase of twice the employees’wages. Prospects for further research are related to more complex assessment analysis of the monthly wage of SMEs employees, engaged in various types of economic activity. Originality/value: New knowledge has been gained about the factors that influence the wages of SMEs in the regions, ratios wage and subsistence minimum and also wage differentiation in SMEs by region. Our study offers a unique view on the SMEs wage system and we contribute to the existing knowledge on economy of entrepreneurship.

Evaluation of Cluster Policy Efficiency in Slovakia from the View of Industrial Cluster

Evaluation of Cluster Policy Efficiency in Slovakia from the View of Industrial Cluster
(Evaluation of Cluster Policy Efficiency in Slovakia from the View of Industrial Cluster)

Author(s):Jana Plchová, Irina Bondareva
Language:English
Subject(s):Social Sciences, Economy
Page Range:912-923
No. of Pages:12
Keywords:Innovation activities; industrial cluster; support instruments
Summary/Abstract:Purpose:Clusters in Slovakia face both systemic and specific barriers of their development. The aim of the paper is to examine the effectiveness of cluster policy in Slovakia from the view of a particular industrial cluster (on the example of the Slovak plastic cluster− SPK) and to identify obstacles of its innovation activity growth. Design / methodology / approach:The results of the primary qualitative research were obtained by the method of individual in-depth interviews with the management of the Slovak plastic cluster. Secondary data were obtained by analysing the information of the European Cluster Observatory, the results of the Clustrat project,the information of the Ministry of Economy of the SR (MH SR), the SPK management reports for the years 2012-2016 and other relevant institutions. When processing the publication, we used documentary analysis and other general methods of scientific work. The authors also used the method of individual in-depth interviews, which allowed them to meet the research goal. Findings:Significant disproportionalities between the recommendations of the European Commission and the factual conditions for successful clusters development in Slovakia are identified. Government measures aimed at supporting cluster innovation activity are not sufficient. At the same time, the problems encountered by cluster can become fatal not only for its development but also for its existence. Research / practical implications:The paper critically evaluates the existing tools of cluster policy in Slovakia. On the basis of the above-mentionedfacts are proposed measures, the implementation of which would significantly support the innovative activity of clusters in Slovakia. Originality / value:The study contains feedback from industrial cluster that brings important information to government institutions to make cluster policy in Slovakia more efficient.

Identifying Hurdles for Innovators: the Case of Russian Rural Areas

Identifying Hurdles for Innovators: the Case of Russian Rural Areas
(Identifying Hurdles for Innovators: the Case of Russian Rural Areas)

Author(s):Sergei Polbitsyn
Language:English
Subject(s):Social Sciences, Economy
Page Range:924-932
No. of Pages:9
Keywords:Rural entrepreneurship; agriinovation system; rural development; Russia
Summary/Abstract:Purpose:The paper presents the research results that specify current institutional and economic hurdles toruralinnovative entrepreneurshipdevelopment in Russia. To surmount the obstacles to rural business development, mandatory would be to consider the existing legal, economic, political, social standards, requirements and policies. The aim of this paper is to identify the social, economic and legislative factors that decelerateruralentrepreneurship developmentin Russia. Design/methodology/approach:The research design is based on the survey that was conducted among business owners and top managers of entrepreneurial firms located in rural areas in Russia. The survey was designed as a combination of Likert Scale directing from “strongly disagree” -1, to “strongly agree” -5. A simple random sample of 30 respondents was generated each year of the survey. The survey was conducted for 10 years. The collected data was analyzed after employing special software Stata 11. Findings: Results suggest that the lack of qualified personal, the lack of information on potential markets and technologies and the high risk of innovative activities are named as the most significant hurdles to rural innovative entrepreneurs in Russia. Research/practical implications: The reported research relied on self-reports and on a sample from the one region of Russia. Future research should be multiregionaland multinational to test the assumptions of the present study.The paper reveals that local authorities could play more significant role in fastening the territorial economic development supporting innovative entrepreneurs with market and technology information. Originality/value: The present study provides evidence about the hurdles to innovative development of rural entrepreneurship inRussia. Results could be of value to policy makers focusing on the development of small businesses andentrepreneurshipand the promotion of entrepreneurial and innovative capabilities inruralcontexts.

Green Entrepreneurship in the Food Industry: Eating Consciously Andraising Awareness in Barranquilla, Colombia

Green Entrepreneurship in the Food Industry: Eating Consciously Andraising Awareness in Barranquilla, Colombia
(Green Entrepreneurship in the Food Industry: Eating Consciously Andraising Awareness in Barranquilla, Colombia)

Author(s):Christina Campo Santiago
Language:English
Subject(s):Social Sciences, Economy
Page Range:933-944
No. of Pages:12
Keywords:Green entrepreneurship; sustainable development; local community development; small and medium sized enterprises
Summary/Abstract:Purpose:Nutritional challenges and food waste are becoming a priority in the food industry around the world. Within the food industry, entrepreneurship opportunities exist due to changes in dietary patterns and a demand for a business model that takes environmental and social causes into consideration. Furthermore, Colombia is ranked at the forefront of entrepreneurial endeavors in South America. This presentation provides an exploration of entrepreneurial innovations in the food industry in Barranquilla, Colombia and examines the drivers of these entrepreneurs and their effect on the environmental and social impact of their business. Design/methodology/approach:Case studies, from a qualitative standpoint, were built for various entrepreneurs in different areas of the food industry and at different stages of the entrepreneurial life cycle in Barranquilla, Colombia. The entrepreneurs were selected by way of a snowball effect. Through semi-structured interviews and visits to their place of business, it is determined how they created a business from a personal and societal need for healthier and more sustainable food choices. Their motives, challenges and views of the future, as wellas their environmental and social awareness and impact are also analyzed. Findings: The food entrepreneurs showed how they focus on social and environmental impact. Their initial motives and drivers define how they incorporated environmental and social aspects into their business. Some of the common constructs that emerged were environmental responsibility, a desire to educate consumers on environmentally-friendly practices and to further engage the community. This new type of food entrepreneur appears to affect society in positive ways, mostly by offering healthier and more sustainable food choices to people that predominantly ate processed/fast foods, and by stimulating a local interdependent economy through previously untapped opportunities. Research/practical implications:This presentation helps to paint a clearer picture of the entrepreneurial ecosystem and the circumstances small and medium sized business owners deal with in a local community of Colombia. It shows similar patterns and themes as to that done in different regions in the world, which proves how certain trends in green entrepreneurship are becoming a worldwide phenomenon. It would be interesting to expand the analysis through a comparison with a local community in a different locale. Originality/value: The realities of green entrepreneurship in South America have seldomly been covered in literature. Green entrepreneurship could be a way to tackle the challenges currently found in the food industry. This research sheds some light on the trends and innovations at the level of small and medium sized business owners in a local community in Colombia. Furthermore, the research aims to contribute to understanding the drivers and motivators of small and medium business sized owners, what inspired them to start their own business.

Policy of Business Support on a Regional Level: a Unique Chance or Missed Opportunity Forentrepreneurs?

Policy of Business Support on a Regional Level: a Unique Chance or Missed Opportunity Forentrepreneurs?
(Policy of Business Support on a Regional Level: a Unique Chance or Missed Opportunity Forentrepreneurs?)

Author(s):Jarmila Šebestová, Petr Šiška
Language:English
Subject(s):Social Sciences, Economy
Page Range:945-953
No. of Pages:9
Keywords:Business policy; Moravian-Silesian region; regional business support; SME
Summary/Abstract:Purpose:Business policy on a national level reflects problematic entrepreneurial areas in a general way. Regional authorities implement these general aspects according to the current local requirements in their regional development strategy. Unfortunately, their effort to support entrepreneurial spirit and innovations is not as effective as it could be –their tools and institutions are not as well used as they intended. The question arises –where does the problem lie, is it in the means of communication or in the entrepreneurial requirements at the regional level? The main goal of this paper is to demonstrate some of the missing points or the weaknesses of institutional communication. These conclusions are based on a regional study in the Moravian-Silesian Region, Czechia. Design/methodology/approach: The paper is based on a quantitative study using a questionnaire-based survey, comprising 164 respondents –owners of small and medium-sized companies in the Moravian-Silesian Region. The survey consists of 24 questions in three main areas –motivation to start up, identification of entrepreneurial barriers and an evaluation of the current state of business support in the region. Secondary information such as the results of earlier studies and regional government websites were used for data results comparison. Findings:The paper provides empirical insights about the current state of the business environment in the Moravian-Silesian region and evaluates important areas of business support. It was ascertained that the most important tools for local entrepreneurs are subsidies for job creation and consultancy. A matrix of problems to be solved on the regional level was presented to open the discussion. Research/practical implications:The paper includes implications for regional policy development, which could be transferable as a basic model to other regions in Czechia. Originality/value:This paper supports an identified need to diversify the regional support policy according to regional differences. The main added value of the paper could be seen in practical recommendations.

Management Quality and Innovation in Emerging Countries

Management Quality and Innovation in Emerging Countries
(Management Quality and Innovation in Emerging Countries)

Author(s):Oleg Sidorkin
Language:English
Subject(s):Social Sciences, Economy
Page Range:954-966
No. of Pages:13
Keywords:Management quality; R&D; product innovation; emerging countries
Summary/Abstract:Purpose:I study the impact of management quality on R&D propensity (innovation input), R&D spending (innovation intensity) and new product introduction (innovation output) of firms in ten emerging countries. I analyze whether the measures of innovation are associated with the quality of four different management practices. Design/methodology/approach:I use data on about 1,400 firms from the Management, Organization and Innovation (MOI) Survey (2008 –2010) by the European Bank for Reconstruction and Development (EBRD) and the World Bank. The effects are estimated using a two-part model, which combines logistic and generalized linear models. Findings: I find that an improvement in management quality from the 25thto 50thpercentile is associated with a 3.3 percentage point increase in the propensity to invest in R&D. Furthermore, there are positive but weak effects of management quality on product innovation. The empirical results for individual management practices show that the quality of incentive management is connected with innovation performance. The quality of monitoring and incentives management is related to higher inputs into innovation, but not to innovation output. All results hold after controlling for differences in management quality by industries. Research/practical implications:In emerging countries, the quality of monitoring and incentive management practices is especially important for R&D propensity and R&D intensity. While the role of monitoring for new product introduction is weak, incentive management quality has sizable effects. As the study covers emerging countries, the findings may be of particular importance for emerging economies aiming to promote successful innovation. Originality/value: This paper explicitly focuses on connections between the quality of aggregate management and individual management practices and innovation (input and output) in emerging countries. The empirical analysis presented in the paper helps to explain whether management quality, associated with firms’ operations, affects R&D propensity, R&D intensity and introduction of new products.

Business-IT Alignment with Cash-Flow Based Price-Generating Model for IT Services

Business-IT Alignment with Cash-Flow Based Price-Generating Model for IT Services
(Business-IT Alignment with Cash-Flow Based Price-Generating Model for IT Services)

Author(s):František Simetinger
Language:English
Subject(s):Social Sciences, Economy
Page Range:967-977
No. of Pages:11
Keywords:Business-IT alignment via IT services; business model; IT strategy; pyramidal decomposition of EVA; cash-flow in IT
Summary/Abstract:Purpose:This paper is focused on the actual perception of strategic alignment of IT and business. The goal of this research is a summarizationof understanding the IT-related assets and identification of actual situation and gaps in the business-IT alignment. The main output of this paper is a proposalof the alternateconceptual method (model) which can change the understanding of business-IT alignment options. Design/methodology/approach:The literature research was conducted with the goal of identification actual situationand issues in the Business-IT alignment area from IT Governance, IT-related assets, and Strategic Management perspectives. Considering identified issues, new research results based on previously presented conceptual ideas and models are introduced. There are described developed metrics which address identified issues. Findings:Regardless of developments in the subject areas, the financial and economic perspectives of strategic IT management stay underdeveloped. This fact contributes to the disproportionof business and IT activities. For better alignment of business and IT is needed to find a moresuitable way how to synchronize goals on short, mid, and long-term basis and how to improve their interconnection. Research/practical implications:The proposed conceptual method is relevant for strategists from business and IT. It provides new perspective how to understand relationships between business and IT and it shows new direction how to design future business models. Originality/value:The proposed conceptual method is unique and provides an alternateviewpoint to business-IT alignment topic. It provides options for harmonization of activities of business and IT.

Regulation of Environmental Aspects in Special Economic Zones

Regulation of Environmental Aspects in Special Economic Zones
(Regulation of Environmental Aspects in Special Economic Zones)

Author(s):Olga Sinenko, Igor Anatolevich Mayburov
Language:English
Subject(s):Social Sciences, Economy
Page Range:978-988
No. of Pages:11
Keywords:environment compliance zone; pollution control zone; green zone; ecotown; eco-industrial zone; low-carbon zone; environmental tax
Summary/Abstract:Purpose:The aim of this study is to identify contemporary trends in environmental management in special economic zones. Transformations sustained by special economic zones in terms of the use of fiscal instruments in the past few years could become a real tool for combating environmental issues. Design/methodology/approach: The main source of research is the data of official sites of territories with special economic and ecological status. External secondary data research is based on publications of World Bank, UNIDO, GGGI, PEDL. Our own research is complementary and allows us to compare it with the secondary sources that underlie these considerations. Depending on the level of ecological development, a system of types of special territories is proposed. After summarizing the publications devoted to the practice of functioning of special territories with ecological orientation, the authors singled out the main components of the successful work of the "green" SEZs. Findings:A classification of "green" special economic zones has been created. The authors have analyzed and validated fiscal incentives encouraging the adoption of environmentally friendly practices in special economic zones. The key components of the successful operation of "green" SEZs have been distinguished and classified Research/practicalimplications:The proof of the efficiency of fiscal means of encouraging environmentally friendly practices in special economic zones and of the key components of green performance of special economic zones could beuseful for SEZ planners in Russia, enabling them to take appropriate preventive measures. The results of this study could serve as a starting point for hypotheses in further research aimed, for example, at the development of a universal approach to evaluating the efficiency of fiscal mechanisms of environmental regulation in special economic zones in Russia. Originality/value:The article presents a comprehensive overview of applicable environmental regulation mechanisms in special economic zones. The study validates the key components, including fiscal instruments that pertain to successful eco-friendly green performance of special economic zones.

Probability of Success of Crowdfunding Projects during Campaigns in the Czech Republic, Slovakia and in the USA

Probability of Success of Crowdfunding Projects during Campaigns in the Czech Republic, Slovakia and in the USA
(Probability of Success of Crowdfunding Projects during Campaigns in the Czech Republic, Slovakia and in the USA)

Author(s):Aleš Slúka, Ivana Svobodová
Language:English
Subject(s):Social Sciences, Economy
Page Range:989-998
No. of Pages:10
Keywords:Crowdfunding; reward-based; success factor; duration
Summary/Abstract:Purpose:The objective of this research was to discover how successful crowdfunding projects are likely to be to have reached the desired amount at the beginning, the middle and towards the end of the campaign, and compare regression results on regional level. Design/methodology/approach:The sample is 116 crowdfunding projects, 50 located in the USA region and 66 in the Czech Republic or Slovakia. Data were collected on a daily basis over a period of 84 days directly from chosen live crowdfunding projects published on Kickstarter, Indiegogo, HitHit and Startovac. The main outcomes of the research are determined by a logistic regression model of tracked crowdfunding markets and categories. The share of project ́s monetary goal was tracked for t0,25, t0,5, t0,75, where t represents time and number represents percentage of project ́s total duration. Findings: The average crowdfunding project established in Czechia or Slovakia has a higher probability of success with lower investment raised, higher log odds of success, odds ratio and average marginal effect at all investigated stagesthanan average US-located project. Research/practical implications:The logistic regression results for every established category and region are presented separately here. Readers can, therefore, determine the success probability of a project by substituting the necessary variables. Forthcoming research analysing more crowdfunding projects in more regions should ensure a more accurate and reliable outcome per category over the longer period. Originality/value: It has been found that the relationship between the crowdfunding projectsuccess and its raised investment/goal ratio in time has never been analysed at either the regional or the categorical level.

Organizational Innovation as a Driving Force of Corporate Prosperity

Organizational Innovation as a Driving Force of Corporate Prosperity
(Organizational Innovation as a Driving Force of Corporate Prosperity)

Author(s):Miroslav Špaček
Language:English
Subject(s):Social Sciences, Economy
Page Range:999-1013
No. of Pages:15
Keywords:Organizational innovation; service outsourcing; maintenance; normative model; multicriteria decision-making
Summary/Abstract:Purpose:The purpose of this paper was to examine the effects of organization innovation on company performance characteristic. In addition, the main benefits of service outsourcing as well as key obstacles to smooth adoption of service outsourcing were also identified. The reason for drafting this paper was to elucidate on main benefits and shortcomings of service outsourcing and to propose normative decision model which would facilitate decision-making process. Design/methodology/approach: The research was specifically based on questionnaire survey which was performed among company maintenance managers and shift masters in the Czech and Slovak Republic.Research sample was subject to random selection. Questionnaires were filled in and collected during regular professional trainings. In total 89 companies were subjected to survey. The survey took place within 2016-2017. This survey was complemented by contextual interviews with selected maintenance managers. Findings: The paper proved that service outsourcing maybe economically beneficial in cases if it brings higher shareholders value than service insourcing. This criterion can be expressed by Net Present Value (NPV) which is smoothly measurable by means of cardinal scale. Furthermore, non-financial criteria were added to measure entire utility of decision on outsourcing. Normative decision-making model which was then proposed was validated on the patter of mid-sized pharmaceutical company. Research/practical implications:The main outcome of the paper is a normative model of decision-making on outsourcing. This model combines both financial and non-financial criteria. The model was practically verified on the pattern of mid-sized company. The model also helps managers better understand the value engineering nature of outsourcing and offers clear and understandable normative decision-making model. Originality/value:The paper offers normative decision-making model which is based on several financial and non-financial criteria. This model was also tested in company practice. Literature search confirmed that such a model had not been presented before.

Determining Critical Issues in Social Entrepreneurship Education

Determining Critical Issues in Social Entrepreneurship Education
(Determining Critical Issues in Social Entrepreneurship Education)

Author(s):Marzena Starnawska
Language:English
Subject(s):Social Sciences, Economy
Page Range:1014-1024
No. of Pages:11
Keywords:Social entrepreneurship; entrepreneurship education; social enterprise; university education; social constructionism; social capital
Summary/Abstract:Purpose:The social entrepreneurship education (SEE) research has sofar, been not sufficiently studied in the literature. This is surprising, considering the dynamic interest of academia in social entrepreneurship (SE) phenomenon. The aim of this paper is to identify critical issues in designing and providing social entrepreneurship education. Design/methodology/approach:The paper is a conceptual work. As academic effort on SEE is rare the literature review analyses a limited number of key texts. Here, the author employs critical review of the literature on social entrepreneurship education. Papers in this area, from education, management and entrepreneurship literatures are identified and relevant issues for education discussed. Findings:The work brings several findings and suggestions for SEE. The curriculum needs efforts in merging “social” and “entrepreneurship” elements. Issues of scalability, sustainability for SE need to be carefully delivered and reflect the impact requirements and challenges social enterprises face. The discussion on SEE asks for stakeholder approach in the design and delivery thanks to the process of interaction between university and environment where the university is a member of a local ecosystem. The emergence of interactions, requires social constructionist approach in researching and teaching SE. Therefore,there is a key role, where it does not provide SEE but acts as socially responsible organization inside and within own value chain. Research/practical implications:The findings are related with complexity and contextuality of social entrepreneurship phenomenon. SEE curriculum cannot be designed in the same way as an EE curriculum. This brings implications for the teaching methods and content like textbooks, case studies, best practices. Also, educators and teaching programme design need toinclude interactive discussion with different actors and organizations from local community, to respond to their institutional context. Diverse group of stakeholders should be involved in the construction of SEE agenda. The future research could cover research among educators and programme designers and their own experiences, in particular educational settings or countries. Originality/value: The contribution of this work is that it comprehensively overviews important issues highlighted in the scarce literature in entrepreneurship and management area that need to be considered when designing and providing SEE. The paper addresses the key call for engagement of educational environment stakeholders in providing and designing SEE.

Tendencies in Online Communication of CSR – A Longitudinal Study

Tendencies in Online Communication of CSR – A Longitudinal Study
(Tendencies in Online Communication of CSR – A Longitudinal Study)

Author(s):Richard Szántó
Language:English
Subject(s):Social Sciences, Economy
Page Range:1025-1034
No. of Pages:10
Keywords:Corporate social responsibility; online communication; corporate web pages; content analysis
Summary/Abstract:Purpose:Although quite a few studiesdealt with online communication of CSR principles and practices of companies, longitudinal studies are rare, therefore knowledge on the tendencies in this field is very limited. This paper tries to fulfil this void by analyzing changes in online CSR communication over time on the same sample of companies. Design/methodology/approach:In this study, the 200 largest Hungarian companies’ online CSR communication was analyzed, and the findings were compared to the ones of the research carried out 8 years earlier.40% of the firms disappeared from the 2009 list, consequently the author ended up with a sample of 120 firms that were present on both lists (2009 and 2017). In this research, a content analysis methodology was used: pre-given categories and themes were sought on corporate websites looking for patterns and regularities. Findings:Large Hungarian companies use the web more actively for CSR communication than they did almost a decade earlier. More companies have their dedicated CSR sections on their corporate website than 8 years ago, and they generally talk more about their CSR principles and practices. Some key issues are major topics of CSR communication such as CSR principles, values, philanthropy initiatives, and environmental management systems,while others are in the bottom like green office programs, responsible governance or responsible marketing. Research/practical implications:Based on the findings of this paper, practitioners can develop their online communication, and can identify the weaknesses of their current practices. Future research should reveal what the motivations of the more active firms are, and why companies lagging do not perceive the value of this activity. It is also important to explore other ways of online communication like the use of online media, since for many organizations it can be (or it is already) the next step to develop their CSR communication, and enable a two-way-dialogue with their stakeholders. Originality/value:Longitudinal studies in this field are rare,therefore this research focusing on how online CSR communication has evolved over time is unique. By exploring the changes in CSR disclosure, the determinants of this type of communication can be identified.

The Multifaceted Entrepreneurial Overconfidence: Variations in its Extent, Form and Effect on Growth Expectations

The Multifaceted Entrepreneurial Overconfidence: Variations in its Extent, Form and Effect on Growth Expectations
(The Multifaceted Entrepreneurial Overconfidence: Variations in its Extent, Form and Effect on Growth Expectations)

Author(s):László Szerb, Zsófia Vörös
Language:English
Subject(s):Social Sciences, Economy
Page Range:1035-1046
No. of Pages:12
Keywords:Self-efficacy; overconfidence; growthexpectations; entrepreneurship; theory of planned behavior
Summary/Abstract:Purpose: In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM data, first, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changesas business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior as a modeling framework, we illustrate that overconfidence results in exaggerated firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectationshave failed. Design/methodology/approach:The pooled 2010-2014 GEM APS (Adult Population Survey) individual datasetof the innovation driven countries was usedto empirically test our hypotheses. Findings:Our results show that the variations in the form of overconfidence (relative or absolute), the subsequent changes in the mode its influence operates (direct or indirect) and the update of other business expectations alter the relationship between self-efficacy and growth expectations as business owners gets more experienced. Research/practical implications: Overconfidence and its effect on growth expectations vary as business owners are learning by doing. Merging nascent and baby businesses in a combined start-up “entrepreneurship” measure is problematic. Originality/value:Our research contributesto the “black box”of interactions between entrepreneurial attitudes, activity and aspirations. We theoretically and empirically corroborated the variations in in the relationship between self-efficacy andexpected firm growth across the business life-cycle stages.

The Impact of the Big Five Personality Traits on Enterprise Potential and Individual Entrepreneurial Orientation of Students in Serbia

The Impact of the Big Five Personality Traits on Enterprise Potential and Individual Entrepreneurial Orientation of Students in Serbia
(The Impact of the Big Five Personality Traits on Enterprise Potential and Individual Entrepreneurial Orientation of Students in Serbia)

Author(s):Edit Terek, Milan Nikolić, Dragan ĆoĆkalo, Sanja Božić, Jelena Rajković
Language:English
Subject(s):Social Sciences, Economy
Page Range:1047-1056
No. of Pages:10
Keywords:Big Five; enterprise potential; individual entrepreneurial orientation; students; Serbia
Summary/Abstract:Purpose:The paper presents the results of the study of the influence of the Big Five personality traits on enterprise potential and individual entrepreneurial orientation of students in Serbia. Design/methodology/approach: The data were obtained by using questionnaires completed by students from Serbia. The students are studying at seven faculties in Serbia (technical and economic professions). 488 valid questionnaires were collected. Findings: From the Big Five dimensions, the strongest positive impact on the dimensions of enterprise potential and individual entrepreneurial orientation have the dimensions E -extroversion and O -openness to experience. The impact of the C -conscientousness dimension is positive butis considerably weaker. The dimension N -neuroticism generally has a negative statistically significant impact on the observed dimensions of entrepreneurship. The impact of the dimension A -agreeableness varies: this dimension positively affects CRE -creativity and PR -proactiveness, and negatively LEA -leadership, while on other dimension it does not have a statistically significant impact. On the other hand, under the strongest influence of Big Five dimensions are the followingdimensions of enterprise potential and individual entrepreneurial orientation: ACH -achievement, CRE -creativity and PR -proactiveness. Research/practical implications:The results of the research can be applied in the education of future entrepreneurs, as well as in the early identification of persons with entrepreneurial predispositions. Originality/value: Determining the impact of the Big Five personality traits on enterprise potential and individual entrepreneurial orientation of students in Serbia.

Research of Bulgarian Consumers’ Reactions to Organic Foods as a New Product

Research of Bulgarian Consumers’ Reactions to Organic Foods as a New Product
(Research of Bulgarian Consumers’ Reactions to Organic Foods as a New Product)

Author(s):Milena Todorova, Svilena Ruskova, Svilen Kunev
Language:English
Subject(s):Social Sciences, Economy
Page Range:1057-1070
No. of Pages:14
Keywords:Consumer behavior; organic foods; new product; adoption of innovation; resistance to innovations
Summary/Abstract:Purpose:The present research aims to study factors influencing Bulgarians consumer behavior (by the example of Ruse region) towards organic foods and to describe their reactions to this innovative for the Bulgarian market product. In result, consumer profiles are derived in two directions –of adopters of organic foods and of non-adopters performing a reaction of resistance to this type of innovation. Design/methodology/approach: Empirical data have been collected through an inquiry conducted among final consumers who live on the area of Republic Bulgaria, in Ruse and Ruse region (level NUTS 2). The questionnaire consists of introducing, essential and closing questions. According to data from the Bulgarian National Statistical Institute the population size formed by consumers living in this area at 15 and above is 195 447. The sample size is 384. The method used for selection of the sample units is “complex random sample”. The received data have been processed by descriptive statistical methods in order to form consumer profiles. Findings: The following consumer profiles are described: 1.adopters of bio foods –well-informed buyers, willing to ensure healthy living of themselves and their families;2. non-adopters -resistant to bio foods at the time of the research. They are divided in three groups: the first one includes those who postpone the adoption of bio foods because of low incomes or/ and insufficient information; the second group –those who reject bio foods because of distrust in their quality; the third group –reject bio foods because they do not feel necessity of such type of products, not interested in learning more about them. Research/practical implications:The present paper studies the real and possible reactions of Bulgarian consumers to organic foods as a new product.In result of the data analysis it can be concluded that although there is a center of firm and regular consumers, who have already adopted bio foods, the bigger part of Bulgarians performsone of the forms of resistance –postponement, rejection or opposition. The research results would be useful to producers or distributors of bio foods as they reveal the expected barriers to the adoption of this new product and suggest some actions for overcoming them. Originality/value:The paper aims to be useful for producers and distributors of organic foods through applying certain actions for increasing the awareness and decreasing the level of perceived risk connected with them by real or potential buyers. At the same time stimulating adoption and diffusion of organic foods will have positive impact on societal health andenvironment as well.

Determining Factors Affecting the Effectiveness of Risk-Based Internal Control System in Import-Export Enterprises in Ho Chi Minh City, Vietnam

Determining Factors Affecting the Effectiveness of Risk-Based Internal Control System in Import-Export Enterprises in Ho Chi Minh City, Vietnam
(Determining Factors Affecting the Effectiveness of Risk-Based Internal Control System in Import-Export Enterprises in Ho Chi Minh City, Vietnam)

Author(s):Hung Tang Tri
Language:English
Subject(s):Social Sciences, Economy
Page Range:1071-1082
No. of Pages:1082
Keywords:COSO; effectiveness of internal controlsystem; ERM; internal control
Summary/Abstract:Purpose:Many enterprises in Viet Nam have been implementing COSO’s Enterprise Risk Management-Integrated Framework (ERM Framework) to improve operations and pursue their goals. Thus, this study examined what factors affecting on the effectiveness of risk-based internal control system of import-export enterprises in Ho Chi Minh City, Viet Nam. Design/methodology/approach:This is a quantitative and qualitative research conducted base on COSO 2004 ERM Framework. An administrated survey was sent to 330 import-export in Ho Chi Minh City to satisfy the sample formula of Tabachnick and Fidell (2007) and Hair et al. (1998). And the collected data were tested by Cronbachs’ Alpha, explore factor analysis (EFA), and multiple regression test to find out what factor (of eight factors) has the relationship to the effectiveness of risk-based internal control system of enterprises. Findings:The research revealed that there was a positive relationship between the effectiveness of risk-based internal control system and eight factorscomprising internal control; objective setting; event identification; risk assessment; risk response; control activities; information and communication; monitoring. In which, the monitoring had the strongest impact and the event identification had the least impact. Research/practical implications:The result contributed in internal control system of private sector in Viet Nam. Furthermore, it donated to convince what factor urgently necessitate to enhance in import-export enterprises. In addition, the research also granted recommendations to boost these enterprises’ operations. And, this study will be continued to conduct with full of population to achieve a highest solidity. Originality/value:The paper is a vital reference for other researchers in Viet Nam. Moreover, enterprises’ leaders are able to manage their organization more effectiveness, whereas policy makers in Ho Chi Minh can create a better environment for import-export enterprises.

An Innovative Socio-Technical Network Approach Supporting The Business Process Management

An Innovative Socio-Technical Network Approach Supporting The Business Process Management
(An Innovative Socio-Technical Network Approach Supporting The Business Process Management)

Author(s):Anna Ujwary-Gil, Natalia Potoczek
Language:English
Subject(s):Social Sciences, Economy
Page Range:1083-1095
No. of Pages:13
Keywords:Socio-technical networks; business process management; network approach; visualization
Summary/Abstract:Purpose:The aim of this article isto combine innovatively two research areas: the network approach and the business process management. Moreover, the article indicates the possibilities ofindicating business processes in an organization; identifying and analyzing socio-technical networks comprising information networks, knowledge networks, task networks and resource networks; determining the socio-technical potential for process managementfrom the network approach perspective. The paper proffers an innovative methodological application of including processes in a network analysis. The case is an illustration of this application. Design/methodology/approach:The study involved a total of 30employees of amedical organization operating in the health sector(N = 30) out of 30 provided for testing, which accounts fora total of 100% of respondents. According to the research network, the sample covered the entire population. We used an interview and a surveyresearch composed of four questions. Also,the Organizational Risk Analyzer (ORA LITE) software was used. Findings: The article presents business processes of a medical company divided into knowledge and skills, tasks and resources necessary to perform them. It identifies socio-technical networks, calculates the density of relations in business processes and the degree of their centrality. It allows us to look at business processes from the relation network point of view. Research/practical implications:Tying the network approach with the business process management is a promising direction in searching for new solutions, both for researchers and managers, which can be appliedtomanaging an organization. This interdisciplinary combination points at the possibilities of understanding the network of relations existing in an organization from the perspective of business processes.It allows indicatingthe degree of interactions occurring between particular nods within business processes. Originality/value:The article uses the visualizations from ORA LITE software to group nods within business processes. We used various indicators: density, centrality, E/Iindex or Cheeger value

Current Success Criteria of Socially-Oriented Start-Ups in Incubation Stage

Current Success Criteria of Socially-Oriented Start-Ups in Incubation Stage
(Current Success Criteria of Socially-Oriented Start-Ups in Incubation Stage)

Author(s):Lucie Vnoučková, Hana Urbancová
Language:English
Subject(s):Social Sciences, Economy
Page Range:1096-1104
No. of Pages:9
Keywords:Start-up; innovation; evaluation; social; incubation
Summary/Abstract:Purpose:The paper focus on important area of current entrepreneurship oriented on social impact and improvement of life with use of modern technologies. The aim of the paper is to identify current criteria of socially-oriented start-ups leadingtowards successful development of innovative entrepreneurship with use of new technologies based on qualitative research of start-up projects. Design/methodology/approach:The data were collected by means of a qualitative research of 17 start-up projectsby means of content analysis carried out among project applications of organisations applying for start-up incubator. The projects were focused on social innovations with planned impact in the Czech Republic. For the analysis key words and short phrases were selected based on aim of the study to find approaches of socially oriented start-ups and their main areas of planned impact. Findings:The results of study have shown that key success criteria of successful start-up projects and entrepreneurship are: use of education and training, development, partners, theoretical mapping, use of expert help, use of concrete technologies, knowledge of project management, project functionality, personal interest in project delivery, efficiency of solution and use of psychological approaches. Research/practical implications:The results may be used in practice to identify current main focus areas of social impact and approaches of their achievement. The limits of the article can be deemed to consist in a relatively small sample; however, with respect to the relatively low number of social start-ups in the Czech Republic the sample can be described as sufficient. The research will continue further in order to deepen the knowledge about this phenomenon, i.e. methodology of adoption of innovations by target group and efficient approaches to scaling of the solution. Originality/value:The contribution of the article lies in general identification and evaluation of the areas of the sustainable development of social start-ups. Furthermore, practical contribution of this article lies in presenting the concrete results from real start-up projects in incubation stage. The results are important for development of new start-up ideas and project while their main efficient approaches arepresented.

What Are the Experiences of the Ambidextrous Form of Strategic Change Management within the Life Insurance Industry?

What Are the Experiences of the Ambidextrous Form of Strategic Change Management within the Life Insurance Industry?
(What Are the Experiences of the Ambidextrous Form of Strategic Change Management within the Life Insurance Industry?)

Author(s):Martin Vogl
Language:English
Subject(s):Social Sciences, Economy
Page Range:1105-1118
No. of Pages:14
Keywords:Ambidexterity; ambidextrous path of change management; management of paradoxon; life insurance
Summary/Abstract:Purpose:Since January 2017 the writer is the chairman of a Swiss insurance group which faces strategic challenges which are economic driven (cost and margin pressure) and at the same time require organisational development (lack of innovation to adjust core client offer to changing client needs). For this kind of business challenges the ambidextrous form of strategic change management has been developed. The objective of the study is to empirically observe, whether companies in general and specifically in life insurance industry have applied this change management approach and what were the results. Design/methodology/approach:The methodology applied is a Systematic Literature Review (SLR). It is focused on the following Research Question (RQ): what the experiences of companies in areapplying ambidextrous strategic change a.) overall and b.) within the insurance industry. The search was restricted to peer-viewed, English language, scholary journal articles. All published and accessible journal publications, working papers and conference papers that matched the selection criteria were considered. Findings:Based on this researchit became clear that mostly technology intensive or manufacturing oriented companies have applied the ambidextrous path of strategic change with a positive financial performance. With respect to the life insurance industry the SLR showed that much evidence could be found that the challenges of the life insurance industry normally requirethe application of this concept, but however no specific empirical study could be found which describes the application of it. Research/practical implications:The SLR suggests (1) further academic work on application of the concept in service industries, e.g. banking to better understand if the life insurance industry can learn from them. On top the writer recommends to (2) specify more clearly how (steps, components, tools) the ambidextrous change management approach has been applied incl. results achieved. Furthermore,the writer suggests to (3) develop a more customized conceptual ambidextrous change management approach for the life insurance industry and (4) validates it by a scientific research on the application within a case study. Originality/value:The life insurance industry overall and not only the writer’s company face new, huge and complex challenges. For these challenges the ambidextrous change management has been developed by Tushman and O’Reilly. The research showed that this concept has been widely applied in technology intensive industries with positive results. Therefore, managers and researches in the life insurance can now learn from these experiences andhelp to solve toady’s challenges of their companies and the industry.

Formation of Complex Company Evaluation Method through Neural Networks Based on the Example of Construction Companies ́ Collection

Formation of Complex Company Evaluation Method through Neural Networks Based on the Example of Construction Companies ́ Collection
(Formation of Complex Company Evaluation Method through Neural Networks Based on the Example of Construction Companies ́ Collection)

Author(s):Marek Vochozka
Language:English
Subject(s):Social Sciences, Economy
Page Range:1119-1128
No. of Pages:10
Keywords:Complex company evaluation; artificial neural networks; construction company; company bankruptcy; predictive model
Summary/Abstract:Purpose:The main goal of this contribution is to create a model through the use of neural networks, which will be able to predict the company ́s ability to survive a prospective financial crisis. Design/methodology/approach: The contribution examines the basic data on companies coming from the Albertina database. The collection includes both financial and non-financial indicators of all construction companies in the Czech Republic within the period of 2008 to 2014. Theobject is to find an artificial neural network which can classify each company based on the input data into one of the following four groups: the company is not on the verge of bankruptcy, collapse in the given year, collapse in the following two years and collapse in future. Findings:Three neural networks are given and described, proving positive results. With regard to the usefulness ofthemodel and minimal deviations from the spare two models which were going to be taken into account, the MLP 15:15-54-66-4:1 model proves the best results. Through this network theCzech construction companies ́ ability to survive a possible distress is consequently evaluated. Research/practical implications:Theevaluation of financial and non-financial indicators is a necessary part of modern companies. Artificial neural networks are able to conduct non-linear statistical modelling and offer acompletely suitable alternative to individual financial indicators within complex methods ofthis evaluation. Originality/value:Using artificial intelligence, the contribution creates a bright new methodology for comprehensive business evaluation, which includes both financial and non-financial indicators. The result could be used for practical comprehensive evaluation of construction companies in the Czech Republic

The Creation of the New Media Ecosystem in New York City: an Entrepreneurial Approach

The Creation of the New Media Ecosystem in New York City: an Entrepreneurial Approach
(The Creation of the New Media Ecosystem in New York City: an Entrepreneurial Approach)

Author(s):Cliff Wymbs
Language:English
Subject(s):Social Sciences, Economy
Page Range:1129-1142
No. of Pages:14
Keywords:Entrepreneurs; ecosystems; process theory; case analysis; New York City
Summary/Abstract:Purpose: The objective of this study was to further the understanding of entrepreneurship by disaggregating entrepreneurial activity into three distinct actors (freelancing, anti-institutional and institutional). Each of these actors performs different functions in the creation and evolution of the new media ecosystem/cluster. Design/methodology/approach: This paper uses a qualitative historical analysis of the New York City New Media Ecosystem (Silicon Alley). The analysis identifies a key tipping point where institutional logic changes, a necessary condition for ecosystem creation, and furthers the study of ecosystems by fitting the study to a dialectic process model. Findings:Each of these entrepreneurial actors (freelancing, anti-institutional and institutional) performs a different, but complimentary, role in a different phase of the ecosystem evolution, so they warrant individual attention. The study of ecosystems is furthered by the identification of the dynamic relationships among these entrepreneur actors and how their roles, and the relative importance of their roles, change over time. Research/practical implications:We know very little about how individual entrepreneurs actually transform the institutions that foster or preclude the creation of ecosystems, which makes it relatively hard to put theoretical insight into practice. A dialectic process model is used to analyze a historical case and gain insight into the processes of contestation and entrepreneurship that explain the emergence of a new ecosystem. Originality/value:The study highlights the importance of using a narrative approach to identify continuous change factors rather than the traditional comparative static approach to study network changes.

Organisational Culture and Level of Motivation in Sme Sector Employees

Organisational Culture and Level of Motivation in Sme Sector Employees
(Organisational Culture and Level of Motivation in Sme Sector Employees)

Author(s):Anna Wziątek Staśko
Language:English
Subject(s):Social Sciences, Economy
Page Range:1143-1154
No. of Pages:12
Keywords:Motivation; model; organisational culture; SME sector
Summary/Abstract:Purpose:The objective of the article is to present the results of the author's own empirical research devoted to assessing the current and desired model of organisational culture according to Polish SME sector employees. The research was also promoted by the urge to assess the occurrence of some statistically significant dependencies existing between a declared model of the organisational culture and a perceived current level of respondents’ motivation. Design/methodology/approach: Two research tools were used in the research process, namely: the Organisational Culture Assessment Instrument (OCAI) by Cameron and Quinn and the author's own questionnaire, to assess occurrence and intensity of any dysfunctional phenomena at the workplace as well as the level of motivation. Statistical analysesof significant differences between variables were conducted based on Pearson’s chi square test of independence. Findings: The research results show that the model of organisational culture which, according to respondents, existed at their organisation atthe time of the research is different depending on the size of an enterprise (with the exception of microenterprises and small enterprises). Moreover, the model of the organisational culture only in medium-sized enterprises has a statistically significantimpact on the degree of employee motivation. Research/practical implications:First, it would be necessary to conduct a cyclical research of employee preferences in order to identify the current and desirable model of organisational culture in the effort to create the friendliestwork environment (the majority of employees’ shows a definitely higher preference for the clan culture features than for the market culture and hierarchy). Important is also, that the organisational culture model is not the key factor which determines the level of employees’motivation. Originality/value:The article presents the results of empirical research conducted by the author, which open new directions for scientific inquires focused on issues related to the organisational culture and its impact on the degree of motivation in employees working for enterprises from the SME sector as well as in large enterprises.

Reuse Centers in the Czech Republic

Reuse Centers in the Czech Republic
(Reuse Centers in the Czech Republic)

Author(s):Martin Zelený
Language:English
Subject(s):Social Sciences, Economy
Page Range:1155-1164
No. of Pages:10
Keywords:ReUse; zero waste; sustainability; charity; used goods
Summary/Abstract:Purpose:The purpose of the following study is to analyze institutional presence of the ReUse phenomenon in the Czech Republic using publicly available data. The aim of the research was to investigate regional distribution, diffusion in terms of time and ownershipcharacteristics of ReUse centers in the territory of the Czech Republic. Design/methodology/approach:The ReUse centers list is based on online research using search engines google.com and anopress.cz. We have searched for terms reuse centrum (reuse center), reuse shop and reuse, thrift store, dobročinný obchod, charitní obchod (charity shop), charitní bazar, dobročinný bazar, charitní šatník, dobročinný šatník, repair center, repair café, zero waste and cirkulární ekonomika with limitation on Czech websites. Each organization and center were individually checked and if they met the ReUse concept, the information about the date of establishment, type of ownership, number of operated centers and locations of organizations and centers were added. Then the organizations were categorized by their ownership, the date of establishment and location. Findings:Result of this study is a list of 47 organizations that operates 166 ReUse centers. 30 centers are located in Moravskoslezský region, followed by Jihomoravskýregion(20) and Prague (20). Only 2 organizations were established before 2006, the largest number of the organizations were founded in years 2014 (11) and 2016 (9). Only 1 organization is municipal, 2 are private, 3 are non-profit and 41 organizations are a charity. No charity presents its centers as ReUse, even though they meet the criteria of the ReUse concept. Research/practical implications: The paper provides implications for further research of the ReUse centers in the Czech Republic, among others concerning reasons for their regional distribution, awareness of ReUse, measuring ReUse centers activity and performance, benchmarking, impact on waste management etc. As for practical implications, the paper suggests new funding opportunities for charity organizations. Originality/value:This paper fulfils the need to study the ReUse phenomenon in the Czech Republic, which is expected to undergo a major development in the coming years and yet there has been no effort made to systematically analyze its institutional presence in the Czech Republic. The list of ReUse centers in the Czech Republic can be used to further research, future comparisons and to measure the impact of upcoming governmental and European Union programs.

Public and Private Investment in Innovation. The Differences between the Visegrad Group Countries

Public and Private Investment in Innovation. The Differences between the Visegrad Group Countries
(Public and Private Investment in Innovation. The Differences between the Visegrad Group Countries)

Author(s):Aleksandra Zygmunt
Language:English
Subject(s):Social Sciences, Economy
Page Range:1165-1174
No. of Pages:10
Keywords:Innovation; competitiveness; the Visegrad Group countries
Summary/Abstract:Purpose:Regarding the role of innovation in competitive advantage of firms, regions and country it is essential to check how public and private investment in innovation differ between the European Union countries. Here, special attention was put on the Visegrad Group countries (V4).Hence, the aim of this paper is to explore how public and private investment in innovation differ between V4 countries. Design/methodology/approach:In this study zero unitarization method and multivariate analysis wereapplied. These methods enable to explore the differences between V4 countries in regard to R&D expenditure in the public sector, venture capital expenditures, R&D expenditure in the business sector, non-R&D innovation expenditures and enterprises providing training to develop or upgrade information and communication (ICT) skills of their personnel. The time period was 2009–2015. The study used data from the European Innovation Scoreboard 2017 relating to public and private investment in innovation dimensions: finance and support and firm investments. Findings: The analysis indicates, among others, the high rank of the Czech Republic in terms of public and private investment in innovation indicators (in comparison to the other Visegrad Group countries). In regard to Hungary, Poland and Slovakia, the findings imply further enhancing the level of R&D expenditure in the public sector, venture capital expenditures, R&D expenditure in the business sector, non-R&D innovation expenditures and enterprises providing training to develop or upgrade ICT skills of their personnel. Research/practical implications:The practical and policy implication of this study is that there is a need to strengthen indicators of public and private investment in innovation (in particular in Hungary, Poland and Slovakia). Regarding future research, it is important to study potential causes of differences between V4 countries (in terms of public and private investment in innovation). Originality/value:This paper contributes to the existing literature by providing new insight on understanding the issues connected with public and private investment in innovation.

Start-Ups Survival in a Transition Economy

Start-Ups Survival in a Transition Economy
(Start-Ups Survival in a Transition Economy)

Author(s):Justyna Zygmunt
Language:English
Subject(s):Social Sciences, Economy
Page Range:1175-1184
No. of Pages:10
Keywords:Firm survival; start-ups; transition economy; Poland
Summary/Abstract:Purpose:With an existing literature widely focusing on market economies, still little is known what determines start-ups survival in a transition economy. Hence, the aim of the paper is to investigate what factors appeal to new ventures survival in Poland. Design/methodology/approach:Hypotheses development was based on the literature review. Survival rates of Polish three-and five-year old start-ups were considered for periods 2008-2015, and 2009-2015 respectively. The Ordinary Least Squared regressions with robust standard errors were used for hypotheses testing. F-test was employed to examine the statistical significance of the results. To control for the autocorrelation, Durbin-Watson test was used. Findings:The main finding is that survival rates of three-and five-year old start-ups in Poland are determined relevantly by R&D intensity. However, with regard to economic activity of these start-ups, this influence is divergent. Evidence has been provided that R&D enhances survival of new ventures in the servicesector, whereas in the industry sector, together with R&D intensity survival rates decline. Research/practical implications: By emphasising that R&D intensity does matter significantly for start-ups survival in a transition economy, the findings may attract attention of policymakers. R&D intensity, being beneficial to survival rates in the service sector, need to be taken into consideration while establishing policy supporting new ventures growth. Originality/value:While the link between firms age, size, industry entry rate, scale economies, R&D intensity, and survival rates has been increasingly studied for developed countries, the factors determining new ventures performance in transition economies are still not entirely recognised. This paper extends the previous research by focusing on survival dimensions of start-ups in an economy which faces transition to a market economy.

Lean Innovation Capability: the Concept and its Measurement

Lean Innovation Capability: the Concept and its Measurement
(Lean Innovation Capability: the Concept and its Measurement)

Author(s):Pelin Bicen, William H.A. Johnson, Zhen Zhu
Language:English
Subject(s):Social Sciences, Economy
Page Range:1185-1193
No. of Pages:9
Keywords:Resource Management; Slack Resources; Innovation; Construct Development
Summary/Abstract:Purpose: The current study explores how firms can achieve high innovation performance with limited resources. Our qualitative inquiry with ten startup companies and an extensive literature review on resource limitation led us to a concept called, Lean Innovation Capability (LIC). Drawing on the resources and capabilities literature, we conceptualize LIC as a higher order distinct firm capability. We aim to develop a new LIC scale and test its moderating role in a resource-limited innovation model in a multi-industry context. Research design:In the LIC scale development process, we completed the item generation and reduction stages and are currently at the scale validation stage. In resource limited innovation model testing, unit of analysis is firm and sampling frame is high growth technology intensive industries. We are using both survey data and secondary data (e.g., Compustat) in model testing. To capture the ephemeral nature of resources, we use George’s (2005) transient negative slack measure for resource limitation; and, for innovation outcomes we use growth related measures as performance measures. Findings: We conceptualize LIC as second order reflective construct with four first order dimensions. The dimensions are: (1) Focus on product-market fit; (2) experimentation culture; (3) mission-oriented leadership; and (4) network learning capability. Our research generated 73 items for a total of four dimensions but this was too lengthy to be usable in practice. We had to reduce the initial item pool to an acceptable number of items using expert judgments (Churchill 1979), and then the statistical purification process with a larger sample size. This reduced the item pool to 37 items. Research/practical implications: Our contribution from this research is the elucidation of the LIC construct. We propose that LIC acts like a catalyst that helps companies both overcome the seemingly negative and extenuate the positive aspects of having limited resources. The picture that emerges suggests a substantially positive role of resource constraints for innovation performance. Early findings show that though the penurious resource environment and context of innovation create certain tensions in terms of resource limitations, the development and enactment of LIC can overcome that tension and lead towards successful innovation outcomes.

Bulgaria's Progress on the Europe 2020 Strategy on Poverty

Bulgaria's Progress on the Europe 2020 Strategy on Poverty
(Bulgaria's Progress on the Europe 2020 Strategy on Poverty)

Author(s):Cornelia Philipova
Language:English
Subject(s):Social Sciences, Economy
Page Range:1194-1206
No. of Pages:13
Keywords:At risk of poverty; Bulgaria; Households; Poverty alleviation; Poverty reduction strategy; Social exclusion; Social transfers
Summary/Abstract:Purpose: One of the key policy components of the Europe 2020 strategy is poverty alleviation. The aim of the paper is to analyse and systematize the current state of the indicator "population at risk of poverty and social exclusion after social transfers (without retirement payments)" as well as the relative share of vulnerable persons in the Republic of Bulgaria by type of household with a view to the country’s progress on the Europe 2020 strategy. Design/methodology/approach: Objectives are achieved with yearly comparison of indicator “people at risk of poverty and social exclusion after social transfers” in Bulgaria with its average value at EU28 and EU27, and social groups. Considering the fact that the National Statistics Institute (NSI) has started to evaluate the macroeconomic poverty indicators since the membership of Bulgaria in the European Union the analysed period in this paper is 2006-2016. Findings: The results of the conducted analyses highlight a problem with the optimization of the social spending in Bulgaria. Research/practical implications: The paper represents an important social problem affecting the modern society. Despite the growing number of papers and literature related to social spending this publication provides an empirical evidence for the relationship between poverty alleviation and social spending. Originality/value:Social dimensions to Bulgaria's statistics indicate a high degree of income differentiation. Despite the priority targets set for the Europe 2020 strategy and the impact of social policy, public social transfers are failing to reduce poverty.

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Coevolution of Market De-Globalization and Political Paradigm Shift
(Coevolution of Market De-Globalization and Political Paradigm Shift)

Multimodal Transport as a Sustainable Transport for the Chemical Industry: Primary Qualitative Research
(Multimodal Transport as a Sustainable Transport for the Chemical Industry: Primary Qualitative Research)

Evaluation of the Current Position of CSR in the Logistics Sector
(Evaluation of the Current Position of CSR in the Logistics Sector)

Valuation of a Saas Company: A Case Study of Salesforce.Com
(Valuation of a Saas Company: A Case Study of Salesforce.Com)

Public E-Procurement System for the Small Business Development in Russian Regions
(Public E-Procurement System for the Small Business Development in Russian Regions)

Educational Institutions Development: Two Basic Types of Organizational Structure
(Educational Institutions Development: Two Basic Types of Organizational Structure)

Cluster Analysis of PE/VC Market in Central and Eastern European Countries
(Cluster Analysis of PE/VC Market in Central and Eastern European Countries)

Internationalization of Companies Through Strategic Alliance: A Study of Polish Companies
(Internationalization of Companies Through Strategic Alliance: A Study of Polish Companies)

Evaluation of Modern Technologies so-Called Key Enabling Technologies in Relation to Corporate Sustainability
(Evaluation of Modern Technologies so-Called Key Enabling Technologies in Relation to Corporate Sustainability)

Effectsof Public Subsidies on Productivity of Firms in the Czech Food Industry
(Effectsof Public Subsidies on Productivity of Firms in the Czech Food Industry)

Gender and Divergent Thinking - Implications for Management Executives
(Gender and Divergent Thinking - Implications for Management Executives)

An Essay on the Entrepreneurial War Machine
(An Essay on the Entrepreneurial War Machine)

Entrepreneurial Parents and Networks: Perfect Substitutes or Fickle Friends?
(Entrepreneurial Parents and Networks: Perfect Substitutes or Fickle Friends?)

Open Innovation and Internationalization: Case of Brazilian Companies
(Open Innovation and Internationalization: Case of Brazilian Companies)

Innovation Clustering and Firms’ Productivity in Italy
(Innovation Clustering and Firms’ Productivity in Italy)

Predictive Factors in Student Evasion Control: An Analysis with Structural Equation
(Predictive Factors in Student Evasion Control: An Analysis with Structural Equation)

Digital Tourism Promotion and E-Mail Marketing
(Digital Tourism Promotion and E-Mail Marketing)

Social Innovation in Small Catholic Liberal Arts Institutions: Fostering Social Innovation at Saint Anselm College
(Social Innovation in Small Catholic Liberal Arts Institutions: Fostering Social Innovation at Saint Anselm College)

Innovation and Optimization of the Occupational Health and Safety Management System in a Selected Industrial Enterprise –A Case Study
(Innovation and Optimization of the Occupational Health and Safety Management System in a Selected Industrial Enterprise –A Case Study)

Change Management Towards Digitalization and Innovation
(Change Management Towards Digitalization and Innovation)

Digitalization and its Contribution to Sustainability in Terms of the Social Dimension
(Digitalization and its Contribution to Sustainability in Terms of the Social Dimension)

Endogenous Determinants of the Absorption of Process Innovations in Financial Services Companies
(Endogenous Determinants of the Absorption of Process Innovations in Financial Services Companies)

The Influence of the Knowledge Area on the Ranking of Determinants of Academic Entrepreneurship
(The Influence of the Knowledge Area on the Ranking of Determinants of Academic Entrepreneurship)

The Impact of Entrepreneurial Management on the Participation of Small and Medium Enterprises in the International Market
(The Impact of Entrepreneurial Management on the Participation of Small and Medium Enterprises in the International Market)

Mining Firms and Sustainability Reporting in Ghana
(Mining Firms and Sustainability Reporting in Ghana)

Non-Financial Indicators in the Valuation Process in Czech Republic
(Non-Financial Indicators in the Valuation Process in Czech Republic)

Corporate Sustainability With Focus on HR, Reporting and Financial Performance
(Corporate Sustainability With Focus on HR, Reporting and Financial Performance)

Analysis of Entrepreneurial Eco-System for Refugee Entrepreneurial Activities in Germany
(Analysis of Entrepreneurial Eco-System for Refugee Entrepreneurial Activities in Germany)

Cause Related Marketing from the Slovak Consumers’ Perspective
(Cause Related Marketing from the Slovak Consumers’ Perspective)

Relation between CSR and Financial Performance in SMEs
(Relation between CSR and Financial Performance in SMEs)

Entrepreneurial Thinking: Towards Drivers of Innovation Processes in Public Sector
(Entrepreneurial Thinking: Towards Drivers of Innovation Processes in Public Sector)

Creating a Platform Based Business Model in Dental Industry
(Creating a Platform Based Business Model in Dental Industry)

Regional Factors Determining Innovativeness of Enterprises in Poland –A Case Study of the Kuyavian-Pomeranianvoivodeship
(Regional Factors Determining Innovativeness of Enterprises in Poland –A Case Study of the Kuyavian-Pomeranianvoivodeship)

Implementation of Agile Method in Russian University
(Implementation of Agile Method in Russian University)

Gaming as an Approach to Convey the Effectuation Message
(Gaming as an Approach to Convey the Effectuation Message)

Parking as an Importantservice of Innovative Hotels: a Case of Croatia
(Parking as an Importantservice of Innovative Hotels: a Case of Croatia)

Influence of Social Capital on Incubated MSMEs’ Access to Non-Formal Finance. A Case of Tanzanian Incubated MSMEs
(Influence of Social Capital on Incubated MSMEs’ Access to Non-Formal Finance. A Case of Tanzanian Incubated MSMEs)

Strengths and Weaknesses of Family Business of the Czech Republic: Case of Family Wine Firms
(Strengths and Weaknesses of Family Business of the Czech Republic: Case of Family Wine Firms)

Technology Adoption and Management Strategies: An Empirical Analysis of Women Enterprises in Food and Beverage Sector
(Technology Adoption and Management Strategies: An Empirical Analysis of Women Enterprises in Food and Beverage Sector)

Impact of the Board Meeting and Gender Diversity to Firm Performance: an Empirical Study in Vietnam
(Impact of the Board Meeting and Gender Diversity to Firm Performance: an Empirical Study in Vietnam)

An Overview of Business Models in the Czech Chemical Industry
(An Overview of Business Models in the Czech Chemical Industry)

Digitalization’S Impact on Lean Global, Start-Up Firms’ Internationalization Speed
(Digitalization’S Impact on Lean Global, Start-Up Firms’ Internationalization Speed)

The Survey of Entrepreneurs in the Comprehensive Assessment of Competitive Environment
(The Survey of Entrepreneurs in the Comprehensive Assessment of Competitive Environment)

Impact of Business Intelligence on Export of Software Firms
(Impact of Business Intelligence on Export of Software Firms)

The Use of Cryptocurrency in Enterprises in Czech Republic
(The Use of Cryptocurrency in Enterprises in Czech Republic)

Identification of Global Value Chains Impact on Czech Manufacturing Industry
(Identification of Global Value Chains Impact on Czech Manufacturing Industry)

Forms of Employment in SME Sector – Example from Slovakia
(Forms of Employment in SME Sector – Example from Slovakia)

The Relationship Between Customer Leverage and Process Innovation: an Empirical Investigation in Global Manufacturing Industry
(The Relationship Between Customer Leverage and Process Innovation: an Empirical Investigation in Global Manufacturing Industry)

China’S Policy for Special Economic Zones and its Implications for the Development of Entrepreneurship in the Russian Far East
(China’S Policy for Special Economic Zones and its Implications for the Development of Entrepreneurship in the Russian Far East)

Educational Antecedents of Entrepreneurs‘ Cognitive Styles in New Venture Financing Decisions
(Educational Antecedents of Entrepreneurs‘ Cognitive Styles in New Venture Financing Decisions)

Key Competencies in Sustainability: Assessment of Innovative Factors Influencing the Development of Human Resources in Health Care System
(Key Competencies in Sustainability: Assessment of Innovative Factors Influencing the Development of Human Resources in Health Care System)

Does Environmental Cost Affect Japanese Firms’ Performance
(Does Environmental Cost Affect Japanese Firms’ Performance)

Balanced Scorecard as a Tool for Research and Development Performance Management–A Case Study in an Agriculture Company
(Balanced Scorecard as a Tool for Research and Development Performance Management–A Case Study in an Agriculture Company)

Microfinance and Access to Finance of SMEs
(Microfinance and Access to Finance of SMEs)

Social (Ir)Responsibility of Professional Sports Clubs
(Social (Ir)Responsibility of Professional Sports Clubs)

Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms
(Firms Quest for Innovation: the Case of Slovak and Hungarian Manufacturing Firms)

The Ephemeral Corporate Social Responsibility Committment Pursuant to Annual Reports –A Czech Case Study
(The Ephemeral Corporate Social Responsibility Committment Pursuant to Annual Reports –A Czech Case Study)

Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women
(Entrepreneurial Attitude and Personality as Predictors of Leadership Vocational Interests in Men and Women)

Value Generators of Enterprises in the Processing Industry
(Value Generators of Enterprises in the Processing Industry)

Economic Potential of SMEs in the Regional Context of the Czech Republic
(Economic Potential of SMEs in the Regional Context of the Czech Republic)

Impact of Online Retail on Economic Development in Russian Regions
(Impact of Online Retail on Economic Development in Russian Regions)

The Busines Concept Map Compared to other Canvas Models
(The Busines Concept Map Compared to other Canvas Models)

Innovation in the Context of Corporate Social Responsibility
(Innovation in the Context of Corporate Social Responsibility)

Home-Based Business in Visegrad Countries: GEM Perspective
(Home-Based Business in Visegrad Countries: GEM Perspective)

Use of Business Model Canvas for Business in University Premises: Implementation of Theory into Practice
(Use of Business Model Canvas for Business in University Premises: Implementation of Theory into Practice)