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The following was presented in this article: a substance of bimodal transport, used technical means, technologies for putting together a bimodal train and systems of the bimodal transport. The recapitulation of this article composes an analysis of advantages and disadvantages for road-railways transportation of loads in the bimodal technology.
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This article is based on empirical data gathered during the research on Polish recording industry conducted in 2013. The paper concentrates on a part of the recording industry which specializes in classical and electronic music. The authors analyze the mission and organizational structures of labels which specialize in the aforementioned music genres. The empirical data suggest that these labels, despite operating on competitive markets, are not driven by purely market orientation. The discussion conducted in the paper suggests that these labels unwittingly contribute to the cultural policy of the state, even though most of them are not supported by the government. Consequently, the results of this study can be used to improve this policy.
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This paper provides an overview of the Bulgarian legal framework in the field of migration, asylum and citizenship policies. It summarizes and updates the information, presented at the Workshop on citizenship, kin-state policy and migration, organized by the Balassi Institute of Bucharest and the Romanian Institute of Research on National Minorities, which took place in Bucharest on 20 and 21 May 2015.
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In this study, in terms of business management becomes increasingly important in ensuring its effectiveness in achieving the purpose of the concept of errors and problems, the impact on food and beverage enterprises were examined. Food and beverage operations for the duration of the activities, there are many problems that they encounter. However, these problems are detected and resolved, businesses and working every day, as well as all the units will be able to face major challenges in terms. Intense competition in the food and beverage sector that is experiencing the error and resolve problems while taking into account the problems and errors that an effective management policy provides the following businesses will rule against competitors. In this study of food & beverage companies often faced administrative errors and solutions to problems have been submitted in the framework of a model.
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The financing decision is taken based on the expectations concerning the future cash flows generated in the operating activity, which should provide coverage for the debt service and allow for an increase of the shareholders’ wealth. Still, the future cash-flows are affected by risk, which makes the sensitivity analysis a very important part of the decision process. The current research sets to evaluate the sensitivity of the payment capacity to variations of the payments for raw materials and consumables. The study employs 391 forecasted yearly cash-flow statements collected from 50 companies together with detailed information concerning the hypotheses of the forecasts. The results of the study allow for the establishment of benchmarks for the payment capacity’s sensitivity, the determination of the mechanisms through which the variation of payments for raw materials and consumables impacts the payment capacity, as well as the identification of the possible causes of such a variation.
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In this article we would like to search the similarity respectively the diversity of selected economic aspects in the forest sector of Slovakia and the Czech Republic. We have analyzed the structure of ownership in forestry, species composition of forests, timber trade, employment in forestry sectors and other significant indicators. Than we have focused on the situation in forestry within the whole Europe and compared it with the largest roundwood, sawnwood and woodpulp producers in the world. In the analysis we have observed some similarity between countries that we have examined. We have used the cluster analysis to verify this assumption of similarity. Main objective of the article is to explore several indicators of Slovak and Czech forestry and compare them with selected European and world countries, and obtain development trends in forestry sector for the future.
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While analyzing nonfiction in aspect of management of organization, it is noticed that a great many of management innovations exist. Organization’s choice of a certain innovation leads to additional aspects of risk. As it is difficult for organizations to make a decision which of management innovations should be implemented, problems arise: What mains factors determine risk while implementing management innovations? These problems were analyzed in various aspects by many academics, but factors of risk that are analyzed by separate authors are not generalized, the effect of theses factors as of complex unit for organizations which seek to implement management innovation is not grounded. The purpose of this article: to add factors of risk to classification criteria, that can be actual to organizations witch are implementing management innovations. After given conceptions of innovation are generalized several features can be extracted, therefore in order to define elements of risk while planning choice and implementation of management innovation it is referred to integration of certain features that are noticed in nonfiction. Main features of innovations (in this article – management innovations) are these: oriented towards changing old into new; appropriate usage of changes in order to seek business success; commercial application; role of changes catalyst for organization that inculcates it; new for people, groups of them or organization that is realizing or using. Generalizing presented definitions it can be proposed that risk to extent as of organization is raised purposes of organization that are not implemented. Foreseen consequences of not implemented purposes are both financial loss and loss of organization image. There are more then 40 different business risk classification criteria witch unite more then 220 risks in world wide practise. Each of mentioned classification criteria include all potential risks, but it can be maintained, that by implementing management innovations each management risk can be classified in to three risk groups: risk factors dependent on choice of management innovation; risk factors determined by conditions of environment; risk factors determined by inside factors of organization. After logical analysis of scientific literature is accomplished, it is stated that implementing management innovations evaluation of risk is condition that gives opportunity to assure competitive ability of organizations. Process of evaluation of risk becomes typical, periodically executed activity in organizations and organization opportunities to reach raised purposes depend on that activity, therefore it is particularly important to evaluate factors of all identified risk groups that could determine failure of management innovation implementation. These risk factors could be treated as a complex unit that could determine failure of management innovation implementation. Mentioned risk factors allow continuing scientific researches about topics of creation/adaptation of risk evaluation methodology. Identified risk factors are relevant for organizations representing various market segments and gives opportunity to form individual set of assessment criteria.
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In today‘s business world one of the main requirements for the professional competence of the specialist is the rational and productive use of work time, the ability to manage both your personal and work time properly. The individual time management technology is based on the rational life organization and life time regulation methods, combined with the social environment requirements. The time and work time concept, time management and planning methods/means, time management techniques are reviewed in the article. The research of the supreme and higher level heads‘ attitudes towards time management and time management techniques use in work, done in March – April, 2010, is presented in budgetary and business organizations of Siauliai. The data was compiled using anonymous questionnaire (structured interview). Questionnaire content was consisted of questions about work time management, time management techniques, their notoriety, frequency of use and conditions how to use. The heads of the supreme and middle levels of 213 Šiauliai budgetary and business organizations is the sample of the research. About two-thirds subjects of the sample represented state and local institutions and about one-third - business companies. Two-thirds men and one-third women participated in the research. Almost half of respondents never participated in time management training. Once almost one-third respondents participated in time management training. Nearly three quarters of these represent Siauliai budgetary organizations. The heads who participated in training twice one-third of these represent budgetary organizations. The vast majority of respondents value well their skills of the work time management, slightly less than one-third – satisfactory. None of the respondents their work time management skills do not value badly. The vast majority of respondents know and actively use their self – made method. It can be stated that the most famous, but not used of the respondents in their work activity, are “Eisenhower“ matrix and “Buffer“ principle. The Alps method and ABC analysis are known least. The provision not to use and not to plan how to use, even he knows the technique or method, most it reveals assessing Pareto 80/20 time planning principle, ABC analysis, Workday photography, Personal work curve method. The vast majority of respondents refer their time planning habits and personal experience constantly. According to these data, it can be stated that the heads of supreme and middle levels budgetary and business organizations generally follow the already well-established work time skills and their provision to use science and training material is not strong, even they participate in time management trainings willingly. It is possible to make conclusions that rational work time planning and organization is one of the managerial functions delegated by the head of the state (in budgetary organization), the owner (in business company) or a higher hierarchical level of management. Time management is very closely related with human activity in time management process. Various time management strategies are used successfully and actively, time management techniques and methods permit to use work time effectively, to improve activity results in general, not to waste a work time, to feel moral satisfaction and psychological comfort.
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In this study, we investigate the implications of earnings synchronicity on investor opinion divergence. We document a positive relationship between earnings synchronicity and unexplained volume on announcement days, a proxy for investors’ opinion divergence, suggesting that investors have more divergent beliefs for high synchronous earnings which convey little firm- specific information. Increase in the investor opinion divergence for high synchronous earnings could be interpreted as decrease in the quality of information environment. To corroborate this interpretation, we condition the association of earnings synchronicity with unexplained volume on the occurrence of management earnings forecasts, a proxy for complementary firm- specific information source. We find that the effect of earnings synchronicity on the unexplained volume is attenuated for firms issuing management earnings forecasts. This implies that a complementary information source could mitigate differential beliefs or interpretation on earnings among investors.
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Integration of the economies of individual countries encourages the development of international exchanges and settlements in different currencies and results in annually increasing volumes of international currency market transactions. In 1971, when the Bretton-Woods system of monetary management was brought to an end and transition was made towards floating rates, the possibility of speculation has emerged, i.e. making a profit on continually changing currency rates. FOREX became the world’s most dynamic and liquid market – the only market active round the clock. Scientists propose a wide variety of solutions to the problem of forecasting exchange rates which is relevant to many actors of the global currency market. One of the instruments used to forecast the Forex market is a technical analysis. However, none of the models developed so far have proved to be suitable for all cases in the currency market as once a model earns popularity and worldwide recognition it loses its profitability due to universal use. Therefore, theoreticians and practitioners of the theoretical analysis try to regularly improve theoretical analysis instruments in order they could better reflect the tendencies of the modern currency market. Based on actual data about variations in the rate of EUR to USD, the article presents an evaluation on which of the widely known methods of technical analysis used for currency rate forecasting could bring the highest profit. The study tested four most popular strategies on investments in Forex markets: the strategies of moving average intersection, moving average convergence/divergence, RSI oscillator and stochastic indicator. The testing has shown that the best strategy of those at issue is the strategy of RSI oscillator, as the appropriate selection of parameters can lead to as high profitability as 18.46 % during six months. However, it is necessary to mention another distinguishing feature of the RSI oscillator strategy – few transactions were effected when trading under this strategy. In the event of the optimum strategy (the most profitable version) a mere 139 deals were closed during six months. When using the RSI strategy a mid-term period (RSI 14, RSI 18, etc) is the best selection. Upon choosing RSI oscillators of particularly short periods marginal values are often obtained, which results in a big number of false purchase and sale signals. Classical levels of resold and repurchased markets representing respectively 30 % and 70 % serve the purpose best in the case of 14-days’ RSI. The use RSI’s combination 14 during the test period produced the highest profit.
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Management experts have argued repeatedly that firms or companies should respond to environmental changes, by engaging in more systematic planning to anticipate and respond to changing and unforeseen events. The main aim of this paper is to investigate the situation of implementation of strategic management thought in two Balkan Countries in order to give valuable recommendations for improvement of these processes. Through an empirical study of both countries are given answers to the following questions: How do private businesses formulate, implement and evaluate strategies in Albania and Macedonia context? How and to what extent do contextual factors influence the action and performance of businesses? The empirical research upon which this paper is based has highlighted a number of valuable results in terms of new descriptive evidence of the levels of tool support and the top tools which are used by strategic management practitioners in Albania and Macedonia for a series of core strategic tasks.
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Signatures of the highest representatives of the three constituent peoples on the Dayton Treaty were challenged internally and externally, and they are the main source of permanent instability even today. The instability generates uncertainty, which inspires speculation of so called ordinary people and scientific analyzes and prognoses of what would Bosnia and Herzegovina looks like in recent future or whether it will exist at all. The author in his paper analyzes fifteen alternative scenarios about the future of Bosnia and Herzegovina in the end of next decade.
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While political scientists are primarily interested in the outcome, psychologists more often put stress on understanding of the process, how individuals come to opting for a particular option. Predictors, i.e. factors that contribute to the relationship with political parties are important for both of them. The main objective of this study is to determine how the goals and expectations may be predictors of attitudes and intentions to vote for the two main political parties in Serbia. The main task was to determine which of the 18 personal and 18 social goals, or combination of them, is the best predictor of attitudes toward the two parties, or of intention to vote for one of them. In the second part of the analysis, instead of goals, expectations of the parties to achieve each of the goals has been predictors of the same elements of political participation. The sample consisted of 481 students, from six faculties of Belgrade University. The results show that the goal “entering the EU” is the best predictor – either of the attitudes, voting intentions, or preference for the first or the second party in a situation of forced choice. However, it has also been shown that there are many subtle mechanisms, by which certain other goals come to the fore in the evaluation of the party, but not necessarily in the decision to vote. Expectations that the parties will successfully accomplish goals, are better predictors than the importance of the goals themselves.
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The GDP forecasting presents a particularity resulted from the fact that this macroeconomic indicator can be analyzed in its quality of aggregate. Therefore, the GDP can be predicted directly using an econometric model with lagged variables represented by the aggregate component. On the other hand, the same GDP can be predicted by aggregating the forecasts of its components. The aim of this study is to find out which strategy generates the most accurate one-step-ahead prediction and if combined forecasts can be a solution of improving the forecasts accuracy. Starting from the GDP oneyear-ahead predictions made for 2009-2011 using the two strategies, measures of accuracy were calculated and the directly predicted GDP are better than those based on aggregating the components using constant and variable weights. Combined forecasts did not improve the accuracy of the predictions based on the mentioned strategies. This research is a good proof for putting the basis of considering the variables aggregation as an important source of uncertainty in forecasting.
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The protection of a human embryo and fetus is one of the most critical issues of the contemporary legal policy. On one hand, legal systems, including systems for the protection of human rights, are traditionally focused on the protection of rights and freedoms of a human, who is understood as an already born human being. On the other hand, the development of bio-medicine shows that this human being is going to be a direct victim of actions taken on a human embryo or fetus. Thus, the legal protection of human rights and freedoms should be expanded for a human fetus, embryo or even gametes used for the procreation purposes.There is no need to add at this point how difficult it is to develop adequate legal instruments in order to achieve this aim. Achieving a consensus, even on such basic issues as the legal status of a human embryo, often becomes impossible mainly because of the multiplicity of interests. Under the human rights protection system of the Council of Europe, where the process of creating standards for the protection of human beings against the risks associated with the development of biology and medicine seems to be the most advanced,not even the draft of the Treaty on the protection of a human embryo has been prepared sofar, even that it was announced in the early years of the 1990-ties. The absence of a “hard”legal instruments governing difficult issues associated with the onset of human life does not mean, however, that no attempt is made to develop a common policy in this regard.The article is devoted to these particular attempts undertaken within the framework of human rights protection system of the Council of Europe, as well as their effects.
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The paper deals with risk response planning and risk response as separate stages of a risk management process in investment projects carried out in the construction industry. Response planning and risk responses are integral parts of the entire process. In particular, the author focuses on the methods and techniques, which may be employed by construction and assembly companies in their operations. The empirical illustrations in the paper are the results of the research done among twentysix, out of one hundred, biggest construction and assembly companies in Poland. The paper also presents some pieces of the empirical research conducted in the USA among big and mediumsized construction companies.
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Sudden startling shifts, despite the efforts undertaken to curb recognized global crisis and locate the paths for getting out of its grips, is playing an additional incentive to make forecasts of future major trends in international relations. It turns out that entire predictive industry is not driven anymore by mere curiosity what future holds in stock for human race or by deeply seated conviction in knowledge society. The very trade of forecasting is now stirred more by yearning to detect strategies better suited for sailing safe and sound over the troubled waters of ongoing crisis. But the foundational bases of predicting who will be decisive actors, which structures are to be in place and which likely processes is going to shape foreseen outcomes in coming years are not unfailingly safe. Competitively disparate values, in particular, are spoiling the solidity of prognostic underpinnings. Future trends in international relations are already set forth for 2025. At the same time, inability to grasp, whether international relations are just slipping temporarily out of the track or parting permanently from the pattern laid down after the Second World War, is admitted. Incompatible assessments of globalisation lead forecasts into opposing camps. The following examination of trends in international relations and accompanying strategies of action offered by three selected sorts of prediction has been premised on assumption that global crisis props up both thinking the unthinkable, that guides to new insights into existing state of affairs, as well as to holding fast to solutions taken out from the past, either because of contemporary discontent or fright of future. In conclusion we state next findings. All forecasts placed under meticulous enquiry, by following maps inherited from the old ways of thinking, are hardly apt to discern how to pull out from the ongoing global crisis. Consequently, they barely operate better in accessing the future trends in international relations. The old ways of thinking are getting in the way of orienting ourselves in our time and space by narrowing cognition. The real landscape of existing international relations is, still, not mapped. Instead of drawing reliable maps we are relying on maps done at the workshops of the old ways of thinking. That is why actions that we take increasingly are ending up in all to deeper ruin. By giving up obsolete maps of the outdated ways of thinking, we would be able to get hold of the best suited compass reading for both governing better our global present and getting more perceptive insights into the trends in international relations that future holds at stake.
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According to the human resource development literature, career program has two salient characteristics: career planning and career management. Recent studies in this area reveal that the ability of management to properly implement such career program characteristics may have a significant impact on job satisfaction. Although the nature of this relationship is interesting, little is known about the role of career program characteristics as an important antecedent of job satisfaction in the workplace career models. Therefore, this study was conducted to examine the relationship between career program and job satisfaction in a city based local authority in Sabah, Malaysia. A survey research method was used as the main instrument to gather data from employees in the organization. The outcomes of testing hypothesis using a stepwise regression analysis showed two important findings: first, career planning insignificantly correlated with job satisfaction. Secondly, career management significantly correlated with job satisfaction. Statistically, this result demonstrates that the career planning does not act as an important determinant of job satisfaction, career management act as an important determinant of job satisfaction in the career model of the organizational sample. In addition, discussion, implications and conclusion are elaborated.
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A country’s economy involves complex input-output (IO) structures of goods and services. The IO models, important instrument for economic and forecasting analysis, provide a reliable background for scientists of structural economic changes acting under the influence of various factors. In this paper, the IO method was used to test the time-stability of technical coefficients using the IO statistical tables for 2000 and 2006 years. The main conclusion is that the IO method can be used as a quantitative and qualitative instrument for analysis on short and medium term (not more than five years).
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The aim of the Pillar 2 processes is to enhance the link between a credit institution’s risk profile, its risk management and risk mitigation systems and its capital. ICAAP is part of the risk management process, closing “the ring” of the whole process. Credit institutions should develop sound risk management processes that adequately identify, measure, aggregate and monitor their risks. The direct effect of the risk management process is now reflected in the level of capital needed. The credit institutions are expected to have an adequate assessment process that encompasses all the key elements of capital planning and management and also generate an adequate amount of capital to set against those risks. The fact that the capital adequation has to be monitored following the main risks directs the ICAAP process towards the business lines. The “calibration” of the needed capital level is now done taking into consideration and correlating the following issues: • the bank business strategies on its business lines; • the bank risk appetite reflected in its defined risk profile; • the real exposure at risks as a result of its operational activity; • related risks implemented controls. The present paper focuses on Basel requirements and the means of their implementation. The Romanian regulatory framework has already implemented these requirements. The Romanian banks started to design and implement their ICAAP. Their options related to the risk approach conducts to different ICAAP solutions containing more or less deep defined analysis and scenarios. The authors emphasize the management responsibilities on ICAAP process, and generally on risk management process and presents the decision process based on ICAAP information. The study is based on an analysis and documentation realized by the author in different Romanian banks in her missions on ICAAP assessment aiming to focus on the main components and issues of ICAAP. Based of the analysis developed the authors formulate their opinion regarding the necessary steps to be followed in the next years. The paper presents also the supervisor’s role and challenges related to Pillar 2 requirements.
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