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Determinants and prospects for the development of the Polish yacht industry

Author(s): Paweł Czapliński / Language(s): English Issue: 4/2020

The growing position of the Polish yacht industry in international markets is the result of many years of innovative activity by enterprises in terms of product, process, organisation and marketing. The competitive advantage achieved has led to a gradual increase in domestic production, in the number of entities involved in construction, as well as in the production and sales of yachting equipment. The following study aims to define the determinants and prospects for the development of the Polish yacht industry against a background of market processes and socio-cultural phenomena. With further exploitation of the market niche, Polish producers can be competitive in international markets thanks to material, technology, design, project, organisation and marketing innovativeness. Having good brands, no need for relocation of production, a favourable price-quality ratio, but above all, the quality and quantity of the products allow for optimism concerning the production and sales of yachts in the future. It is also indicated by demand, including an increasing domestic component which significantly exceeds supply. Its fundamental determinant is the growing wealth level and the fashion for spending free time on the water, and this includes the fashion for water houses.

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Методичні аспекти діагностування обліково-аналітичного забезпечення економічної безпеки підприємства

Author(s): Tetyana Hrinka / Language(s): Ukrainian Issue: 7 (40)/2021

The article proves the need for development of an optimal methodological set for diagnosing the state of accounting and analytical support of economic enterprise security. The conducted analysis allowed us to identify a variety of methods, which covered a review of traditional approaches to methodological aspects of diagnosing the work of this system. Based on the generalization of various means and techniques, methods, approaches, a flexible methodological procedure for assessing the state of accounting and analytical support in the field of effective management decisions and strengthening the economic enterprise security was suggested. It is stated that the rational methodological set for diagnosing the state of accounting and analytical support of economic enterprise security should be built in accordance with a clear algorithm, namely: determining areas for diagnosing the accounting and analytical system of economic enterprise security, forming a system of analytical indicators, determining main sources of accounting and analytical information in the enterprise security system, determining the forms and methods of accounting and analysis at the enterprise, determining the methods of diagnosis. For all types of research multilateral diagnostics of the studied object is envisaged, taking into account the dynamics of its development, the results of similar previous studies, as well as the use of scientific and methodological tools and technical capabilities. Proposed and unified theoretical and methodological bases for diagnosing accounting and analytical support of economic enterprise security will contribute to the skills development resulting in practical recommendations for identifying threats, reducing risks, optimizing the use of material, labor and financial resources, developing anti-crisis measures at macro, meso and micro levels.

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Інформаційне забезпечення управління інноваційною діяльністю

Author(s): Vera Savchenko,Iryna Smirnova,Nadiya Smirnova / Language(s): Ukrainian Issue: 8 (41)/2022

The effectiveness of innovation is due to the quality of information management. Therefore, adequate accounting support of innovation activities and information support for the evaluation of its results is an important factor in the development of innovation activities. The purpose of writing the article is to study the essence of the terms "innovation", "innovation activity", "innovation costs" for the purpose of information support of management of innovative activity and their reflection in the system of accounting. Approaches to understanding the term "innovation" as an economic category and as a category of accounting are generalized. It is determined that there is ambiguity in the interpretation of innovation activity in legislation and professional literature. It is substantiated that the normative definition allows the separation of accounting objects both in terms of innovation processes and their results, and should be the basis for building a system of accounting for innovation activities of economic entities. It is proposed to clarify the term "innovation" by replacing the term "using" with the term "capitalization". It is proved that from the point of view of information support of innovation activity management, it is necessary to single out the objects of accounting observation both in terms of the innovation process and its results. The grouping and analysis of approaches to the reflection of innovation costs in the accounts was carried out. It is substantiated that the costs of innovation activity should be differentiated in the accounting according to the capital or current nature. The results of innovation activities, which are commercialized and according to which the innovative product is obtained, it is advisable to take into account as part of non-current tangible assets. For enterprises specializing in the implementation of innovations, purchased non-current tangible assets held for sale and support of use from customers should also be recorded in special sub-accounts of the second order 12 "Non-current tangible assets are for sale".

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Концептуальні засади управління взаємодією малих та великих підприємств

Author(s): Serhii Sushchenko / Language(s): Ukrainian Issue: 8 (41)/2022

The article presents the principled approaches to the conceptual principles development of the small and big enterprises' interaction management. The need to organize the interaction of small and big enterprises based on using a program-objectives approach, highlighting the procedures for structuring and characterizing the set of interacting enterprises, is substantiated. The program for the small and big enterprises interaction organization is considered as a strategic plan with the definition of the main directions of such interaction and the involved enterprises' development. Such a program is presented in the form of a set of "objectives - measures" graphs and optional characteristics related to its structure. The implementation of the program of small and big enterprises interaction organization involves the creation of a mechanism by which the objectives of small and big enterprises interaction organization are formulated in such a way that the organized efforts to achieve them can be defined, developed, tested, approved and considered from the point of view of such objectives, that is, to manage them. The basis of such a mechanism for agreeing with objectives between small and big interacting enterprises is the concept of Management by Objectives. A generalized model of small and big enterprises' interaction management using a coordination and management center was formed. Each of the control circuits in this model is considered as a set of control systems for all interacting enterprises, which are the objects of management. The conceptual principles of small and big enterprises' interaction management were determined. This management concept should be built on the basis of systemic and program-objectives approaches, in which the enterprise is considered as a socio-economic open complex system characterized by developed relationships with the external environment, and its interaction with other enterprises is built taking into account the objectives and development programs coherence. Taking into account this approach, a model of small and big enterprises' interaction management was proposed. The main principles of implementing the concept of small and big enterprises' interaction management were given.

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Dependence of ROS on financial indicators using threshold regression models

Author(s): Marta Miskufova,Sylvia Jencova,Igor Petruška / Language(s): English Issue: 2/2022

Research background: The modern economy is characterized by extreme complexity, and in today's global world it is challenging to ensure financial stability and increase financial performance. Every enterprise tries to increase its financial performance and competitiveness. It therefore seems appropriate to look for applicable models, that can increase financial performance and competitiveness of companies. Purpose of the article: The paper deals with modelling the relationship between financial indicator of profitability and financial indicators of activity, liquidity, and indebtedness. The aim of this article is to analyse the dependence of financial indicator of profitability (return of sales - ROS) on financial indicators of activity (turnover of assets – TA), indebtedness (total indebtedness - TI, financial leverage – FL), and liquidity (net working capital to assets ratio - NWC/A) of companies in the electrical engineering industry of the Slovak Republic. Methods: The analysis was carried out using the financial indicators of 2,947 companies for the period 2017-2019. Statistica and Stata programs were used to analyse input data and develop threshold regression models. Input data analysis was performed using Kernel density estimation - Epanechnikov. Threshold regression models will be used for dependency analysis, where the threshold variables will be successively the indicators TA, TI, FL, NWC/A. Findings & Value added: Knowing the relationship between financial indicator of profitability and financial indicators of activity, liquidity, and indebtedness enables more efficient business management. Knowing the coefficients and threshold values for individual industries can be used to optimize the company's debt policy in the relevant industry. The constructed models can be a starting point to improve financial health, prosperity, and competitiveness of analysed businesses. Our analysis is an important prerequisite for developing a realistic financial plan for companies operating in the electrical engineering industry in the Slovak Republic.

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A comprehensive analysis of external costs of accidents

Author(s): Andrea Maternová,Andrej David,Vlatka Stupalo,Matúš Materna / Language(s): English Issue: 1/2023

Research background: This paper focuses on the concept of external costs in transportation and the implications of incorporating them into decision-making processes. It highlights that external costs of transport encompass the disparity between social costs, representing all expenses associated with transport infrastructure provision and usage, and private costs borne by individual transport users. The absence of market incentives prevents transport users from considering external costs, leading to account for only a part of social costs when making transport decisions, which ultimately leads to suboptimal outcomes. Thus, internalisation of external costs represents a crucial part of the decision-making process for transport users. Purpose of the article: The purpose of this article is to provide a theoretical approach to the research problem of internalisation of external costs into decision-making processes in transportation. It aims to define the concept of external costs, the methods used for quantification of externalities and show current state of transport accident costs in EU and nonEU countries. Methods: This study was conducted through a research design and methodology that involved existing literature analysis, collecting input values on external costs of transport, and assessing the current stage of internalisation of externalities in various countries and transport modes. The sample size included relevant countries and a specific period of time. Findings & Value added: The paper provides an overview of the input values and methodologies used to provide estimates for the external costs of transport. Moreover, the paper presents total, average and marginal external costs for all relevant countries. The current extent of internalisation of external costs by current taxes and charges for all countries and transport modes. It also investigates recommended options for further internalisation.

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The risk of financial distress in the era of industry 4.0 in Central European economies. Impact of industry and corporate life cycle

Author(s): Lucia Michalkova / Language(s): English Issue: 1/2023

Research background: Industry 4.0 is a challenge for all world economies considering the new technologies and innovations that need to be put into operation. However, these investments can be highly risky and increase the risk of financial distress and/or increase the number of bankruptcies in industries. Purpose of the article: The aim of this study is to investigate and evaluate the impact of the industry structure and the life cycle of the company on the risk of financial distress of companies in Central Europe. Methods: The effect of industry structure and corporate life cycle was investigated using twoway analysis of variance and corresponding post hoc tests. More than 30,000 Central European companies were surveyed using financial data for 2019. The industry structure was created according to NACE rev. 2 and the stage of the life cycle was determined according to the cash flow pattern of the Dickinson model. Findings & Value added: The results of the study show that the risk of financial distress develops dynamically in accordance with an inverted U-shape, where the risk of financial distress of growing enterprises is smaller than the risk of mature enterprises. Start-up, growing, mature and declining businesses have similar risks of financial distress within the life cycle stage regardless of industry structure. The influence of the industry is visible only in companies in the shake-out stage, where some industries are less risky, and the shake-out stage is an extension of the company's maturity. In other industries, the risk of financial distress increases rapidly after the maturity stage. The results of the study can be helpful for the academic community, but also for practice in determining industry support for the introduction of Industry 4.0, where start-ups have a similar starting line in terms of the emergence of financial distress.

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TRANSACTIONAL LEADERSHIP STYLE AND STRATEGIC PLAN IMPLEMENTATION: THE MODERATING ROLE OF ORGANIZATIONAL CULTURE

Author(s): Jackline Akoth ODERO / Language(s): English Issue: 1/2023

The main objective of this study was to establish the influence of transactional leadership style on strategic plan implementation as moderated by organizational culture in private sugar manufacturing firms. Descriptive and correlational research designs were used. A Structured questionnaire was used to collect primary data from a sample of 144 respondents in private sugar manufacturing firms in western Kenya. Descriptive and inferential statistics were used to analyze data. Findings revealed a significant and positive relationship between the transactional leadership style and strategic plan implementation. Further organizational culture did not moderate the relationship between transactional leadership style and strategic plan implementation. The study recommends for leaders in private sugar manufacturing firms to capitalize on transactional leadership style through rewarding staff who accomplish required goals, specifying standards to be adhered to and intervening when issues arise in order to foster effective strategic plan implementation. The current study contributes to the existing literature as it underscores the value of transactional leadership style in accentuating strategic plan implementation in private sugar manufacturing firms. Further it delves into the moderating effect of organizational culture on the relationship between transactional leadership style and strategic plan implementation.

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PROMOTING STAKEHOLDER CONFIDENCE IN THE ZIMBABWE’S BANKING SECTOR

Author(s): Tendai MANHANDO,Tendai TOWO / Language(s): English Issue: 2/2023

The purpose of this study is to examine the ways of promoting stakeholder confidence in the Zimbabwe’s banking sector. To achieve this objective some research questions were raised and related literature was reviewed. The data needed for this study was gathered using a well-structured questionnaire that was designed on a five point Likert scale which was availed for the research participants for completion. The research data was analyzed using multiple regression model in SPSS version 20. Findings revealed that digitalization, bank culture, information quality and customer satisfaction are some of the important factors that determine the confidence of the public in a banking sector. It was concluded that to promote public confidence in the banking sector, Zimbabwean banks and their regulator need to pay attention to and manage factors that can promote public trust in the banking sector such as service reliability, digitalization and managing the public’s risk perceptions about banking institutions.

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EFFECTIVENESS OF COMMUNICATION PLAN IN SMALL TO MEDIUM ENTERPRISES’ PROJECTS SUPPORTED BY THE DEPARTMENT OF TRANSPORT IN SOUTH AFRICA

Author(s): Sandiso NGCOBO,Witness ROYA / Language(s): English Issue: 2/2023

The South African Government, through the Department of Transport (DoT), offers financial support to various engineering companies to use in their road construction projects to improve the country’s road infrastructure. However, many road projects allocated to Small and Medium Enterprises (SMEs) are not completed on schedule. Communication plan was used as a lens to track essential elements involved in ensuring project success. A probability stratified random sampling method was used to select 34 respondents from the DOT who completed questionnaires as part of this quantitative study. Employees of the DoT’s Finance department in KwaZulu-Natal province were chosen because they were well placed to highlight the communication plan followed and challenges experienced in handling financial contracts and monitoring of such between themselves and the SMEs. On the one hand, the respondents generally claimed to have sound measures to monitor the progress of funded projects and apply appropriate techniques to cope with awarded contracts. On the other hand, they conceded that poor planning and poor communication management were the main challenges facing the department. The study calls for regular, open communication to enhance the success of projects which should be monitored in every phase following clear performance indicators. If problems are identified, a communication strategy to resolve them should be established; this strategy should be evaluated against its objectives.

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THE DIVERSE LEAN AREAS OF APPLICATION IN BUSINESS LIFE

Author(s): Mihály BOGDÁN,Péter Popovics / Language(s): English Issue: 1/2023

Today, lean has become an extremely popular field of research. Nothing proves its popularity better than the fact that it is now used not only by production companies, but also by service companies, and its appearance in office environments is even more common. Its domestic and international literature is constantly expanding. Lean is an extremely complex field of science, as it is made up of many fields: innovation, change management, organizational development, process management, quality management, knowledge management. In our publication, we describe the basic concepts of the affected areas and their connection to lean management.

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SYSTEMS OF STRATEGIC MEASUREMENT OF BUSINESS PERFORMANCE IN WARTIME

Author(s): Vitalii Erfan,Oksana Bercha,Yaroslav Kozych / Language(s): English Issue: 2/2023

The article presents theoretical concepts of the general essence of such a category as a strategic measurement system through a business performance indicator in the context of conditions when the country in which the business is located and, accordingly, operates is at war or is directly at war. At its fundamental core, the strategic measurement system shows a number of processes related to the identification, collection, evaluation and processing of certain indicators that interact with such an important indicator as performance, which in turn characterizes the state and, accordingly, further development of the business. The system itself includes a number of stages that are necessary to identify, among all possible indicators, only those that directly affect performance, have a direct (sometimes partial) connection with this concept, and whose change significantly affects the final value. This system will help us to systematize all the initial data (monetary and non-monetary) that will show the state of development of our strategy, its weaknesses and various deviations, in order to draw certain conclusions and correlate our strategy to achieve the desired effect or planned action. I would also like to emphasize the importance of the correct strategy development (which is impossible without an accurate measurement system) for doing business in a time of war, where, in addition to internal risks (company operations), there are also external factors (state, namely military actions). In order to determine the effectiveness as accurately as possible, it is necessary to select a few of the most significant indicators from a large number of indicators that can show what the company’s strategic policy should focus on in order to avoid any losses in the future.

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TAXATION, A FACTOR INFLUENCING FINANCIAL-ACCOUNTING INFORMATION IN THE CONTEXT OF ADMINISTRATIVE GOVERNANCE

Author(s): Margaret Făgădar / Language(s): English Issue: 40/2023

The state administration must focus on actions to protect the accounting, its defects through taxation. The accounting system is almost entirely subordinate to the tax system, largely adopting budgetary, fiscal, political and state interests. The research was based on the results of studies and evaluations performed based on information provided by certain databases. The development of new information and communication has brought major changes in the way people communicate with state institutions, which through their administrative levers must guide technologies to performance and profit, so that there is a mass that must be taxed leading to increased budget revenues.

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Kontrola finansów publicznych w prawie francuskim. Wybrane aspekty instytucjonalne

Author(s): Michał Mariański / Language(s): Polish Issue: 28/2023

This publication is a part of a study of the French Code des juridictions financières in the field of the institutional aspects of the control of public finances. The main purpose is not only to describe the specificity of the French legal system in this field but also to focus on the solutions and type of support institutions that were developed by the French legislator. The general control exercised by the Court of Auditors (Cour des comptes) and regional and territorial audit chambers (Chambres régionales et territoriales des comptes) can be more effective thanks to the so-called supporting institutions, such as the Court for Budgetary and Financial Discipline (Cour de discipline budgétaire et financière), the Supreme Council of Public Finance (Haut Conseil des finances publiques), or the Tribunal for Compulsory Contributions (Conseil des prélèvements obligatoires). This study and analysis of the provisions of the Code des juridictions financières related to the three above-mentioned supporting institutions may also be considered as the first step towards further in-depth analysis and research, and thus the possible application of structures and solutions that are present in French tax law by the Polish legislator or that of any other European country.

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Elektroniczna biurowość w urzędach gminnych z terenu objętego nadzorem archiwalnym Archiwum Narodowego w Krakowie w latach 2011-2019

Author(s): Dorota Drzewiecka / Language(s): Polish Issue: 9/2022

This paper analyzes the progress of digitalization in the offices of communes, municipalities, and inter-communal associations from the area under the archival supervision of the State Archive in Kraków. The study was mainly based on the analysis of archival audit reports and the post-audit recommendations issued, which were acquired under the Polish freedom of information act. When analyzing the collected documentation, the main objective was determining whether the audited office primarily used the EZD system or the traditional system when conducting office management activities and documenting cases. Then, all IT systems (as well as the year of their implementation) were verified. The study covered the years 2011–2019. 2011 is the year when a new regulation of prime minister entered into force, regulating the possibility of managing documents digitally for communes and inter-communal associations as well as offices operating within these entities. The studied period ends with the breakout of the CO VID - 19 pandemic.

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За персонализираното обучение по счетоводни учебни дисциплини във висше училище

Author(s): Gergana Nikolova / Language(s): Bulgarian Issue: 4/2023

The issue of personalized education in accounting disciplines in higher schools is posed in the present paper, rather to provoke interest in the topic than to categorically formulate answers. The author’s goal is to attempt to outline the degree of opportunity for personalized education versus mass education in accounting disciplines and to reveal some potential advantages of implementing this approach.

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Стратегічне управління інноваційно-інвестиційним розвитком підприємств електроенергетики України в умовах нестабільного середовища

Author(s): Iryna Petrova / Language(s): Ukrainian Issue: 9 (42)/2023

An underdeveloped competitive environment, a high level of monopolization of key types of economic activity, insufficient financial and organizational support for the creation and implementation of innovations restrain the innovative activity of enterprises and reduce the competitiveness of enterprises on the domestic and world markets, exacerbating the problem of their economic security. On the other hand, the economic insecurity of enterprises makes their efforts in the direction of innovative activity impossible. This is confirmed by the analysis of statistical indicators of the development of electric power enterprises, which ensures the activity of all other spheres of the national economy of Ukraine. For a long period, the innovation and investment function of enterprises in the electric power sector was implemented inefficiently, as evidenced by the low international rating of Ukraine according to the "energy productivity" subindex. This contradicts the goals of achieving the strategic priorities of innovative development, among which the development of new energy transportation technologies, the introduction of energy-efficient, resource-saving technologies, and the development of alternative energy sources are legally defined. The financial condition of the electric power enterprises of Ukraine is critically deteriorating as a result of significant losses caused to this sector of the country's economy by the Russian aggressor. In such conditions, it becomes urgent to search for and attract investment resources to update fixed assets and ensure innovative development of electric power enterprises in accordance with the main provisions of the State Energy Strategy. The specificity of the investment project in the electric power sector as an important tool of strategic management was considered and its types were identified depending on their purpose: the creation of new energy facilities with the aim of expanding production capacities or commissioning new energy sources; reconstruction through modernization and improvement of existing energy facilities; increasing their scale and capacities; temporary conservation with future deconservation. The leading strategic direction of innovation and investment development is the creation of an effective and reliable electric power infrastructure aimed at ensuring the conditions for the direct sale of electric power from generating companies to the consumer.

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Цифровізація менеджменту: актуальні проблеми теорії та практики

Author(s): Tetyana Hrinka / Language(s): Ukrainian Issue: 9 (42)/2023

The importance and role of digitalization of management in modern conditions are substantiated. It is emphasized that the processes of digitalization of management determine the specificity of digital transformation of management. It is summarized that large-scale technological changes also lead to changes in business conditions, complicate management tasks, and change the nature and boundaries of management processes. The current problems of digital transformation of management in Ukraine are identified: overestimation of the role of automation; possibility of loss or insufficient growth of profits; inability to implement digitalization in certain areas; technological unemployment; established disproportion between demand for highly qualified professionals and insufficient preparation by educational institutions; absence of necessary common standards, technical regulations, and relevant legislative norms regulating relationships between participants in the field of digital technologies; insufficient level of protection of digital technologies from unlawful encroachment. It is argued that the main problems of digitalization of management lie in the development of digital competencies of responsible individuals, which require solutions. Research of modern realities, problematic fields, and trends in the development of digitalization of management has made it possible to identify priority directions for solving the mentioned problems: formation of a new digital culture and new digital thinking; ensuring continuous development of professional digital competencies at all levels of management; providing legal regulation on issues of forming state policy in the field of developing digital skills and competencies; creating indicators for monitoring the state of development of digital skills and competencies (developing a methodology for conducting such studies, forecasting the needs of employers in certain digital skills of employees in key professional groups).

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Функционални стратегии в публичния сектор

Author(s): Bozhidar Babadzhanov / Language(s): Bulgarian Issue: 15/2023

Municipal strategies are a type of planning documents, along with plans for integrated development of municipalities, programs and projects. However, they have their own specificity that distinguishes them from the strategies developed by other organizations. The adoption of strategic decisions by municipalities must not be subordinated to the personal or group interest of a company or non-governmental organization, but to the benefit of all interested persons and be related to finding a compromise between the requirements of economic, social and environmental criteria and indicators. This compromise must meet not only the interests of the citizens of the municipality at the moment, but also protect the interests of future generations, i.e. to achieve sustainable development. The emphasis that the author places in this work on the functional strategies developed at the municipal level is conditioned by the understanding that they regulate the policy of the organization from the public sector in relation to the performance of the various functions attributed to it by the legislation and by-laws.

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Методи за мотивация на служителите

Author(s): Kristian Tashev / Language(s): Bulgarian Issue: 15/2023

Employee motivation has been a topic under consideration for many years. There exist various methods and practices for motivating and managing people, and over the years, it has been proven that due to the diversity of individuals, different methods and approaches need to be applied. The manuscript aims to summarize the most significant motivational theories that are used in one form or another and continue to serve as the foundation for the development and enhancement of newer and more modern approaches. These theories have been studied and validated numerous times, often subject to criticism, yet consistently demonstrating their effectiveness in various cases. They frequently feature in training programs, educational materials, and orientations for new leaders of teams and individuals.

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