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The present paper reflects the concept of cross-functional management, with its multiple theoretical and practical approaches. Cross-functionality is an actual issue, many enterprises trying to encourage this organization form in order to support their innovation and development activities. Although the cross-functional management has specific features, many people are identifying it with the project management or with the hierarchical revised management. However, the cross-functional management implies to take in...

International migration belongs to discussed issues within current economic theories and in international economy reflecting growth in migration flows in the EU and around the world. Sharpening income disparities measured by GiniВґs coefficient stemming from the LorenzВґ curve theoretical assumptions are also topical issue. In this paper we try to quantify relatedness between country-pairs income disparities, within countries inequalities and net migration stocks covering 27 member countries of the EU. The paper a...

High energy intensity of Russian economy has been an actual problem for a significant period of time. One can find a great number of domestic and foreign scientific researches, analysing the reasons of the high level of the energy intensity of Russian economy and other countries of the world, singling out the factors, causing them on the level of the country as a whole and on the level of certain enterprises. We can not deny the recent changes in the legislation of the Russian Federation and the approval of variou...

Unpaid work plays an important role in the life of individuals, households and the whole society. In spite of this fact, there has not been any official statistical research conducted in Slovakia concerning unpaid work till now. In 2012, interdisciplinary team of researchers from the Faculty of Economics, Matej Bel University in Banska Bystrica, Slovakia conducted unique original primary research on the unpaid work. The aim of the research was to complete information about the extent, structure and economic and no...

Corporate governance comprises a wide range of areas. This concept describes all the influences that affect the institutional processes, including those of the appointment of auditors or regulators, involved in the organization of production and sale of goods and services (Turnbull, 1997). We will approach the issue of corporate strategy versus corporate governance as a way of organization's efficient resource management. We consider that organizations should adhere to corporate governance concepts, principles, st...

The study in 2012-2013 of the guests of Kemerovo region showed that both Russian and foreign citizens perceive Kemerovo region only as an industrial centre (94%) but non-tourist (6 %). Economically, this opinion is reasonable, because the main investment is in mining operations (42%), transport and communications (15.7%) and manufacture (12.9%). Kemerovo region is especially attractive for the foreign investors interested in the region as a market for the producers of mining equipment. In 2012, \$1.3 billion USD o...

One of the industries of national economy that provides consumers with agricultural commodities for food is agriculture. A significant role in producing crops on farms is played by chosen soil tillage technologies. Practitioners use three kinds of technologies: ploughing, low-till as well as no-till (direct drilling). Choosing the most appropriate technology, farms can optimise their expenses on fuel and equipment, as well as consequently gain higher yields. The present research was conducted on one of largest cro...

The decisive role of tourism service quality is represented by the essential elements of the quality: fairness in the service, promptness, courtesy, kindness to consumers. Travel service strategy should contribute to increasing the company's value system and push the organization to provide above the mediocrity The strategy of travel service must also rely on on the quality of services, to provide consumer value, to be consistent with firm practices and to stimulate the staff creativity. Concretely, this study pre...

Adequate forming of diversified innovative integrated structures is actual, today, for any country that makes its innovative system more efficient. This process accompanied by a significant number of issues of organizational-technical properties, requiring a competent decision. One of them is the problem of creation of information-analytical support of managerial decision-making during implementing integration efforts in the innovation sphere. In a more specific sense, this means working to select the correct “a...

The aim of this study is to develop methodology for assessing the economic potential for the clusters development in the regions and to test it in the Central Black Earth Re-gion of Russia. Four problems were solved: 1) it was determined which elements of economic potential are significant for clusters formation in the regions, 2) a system of performance assessment indicators was developed; 3) the economic potential for indus-trial clustering was analyzed in the Central Black Earth Region of Russia; 4) strength, w...

The paper considers the concept of the information as one of properties of the objective reality when it acts as a weightless means of production in the creation of which only a person takes part, his mind ability to the abstract thinking. The purpose of getting this intellectual product with specified set consumer properties set in advance is achieve-ment maximum use which in applied, qualitatively other kind may be used or trans-ferred to other economic agents for pay. That is, the information is perceived not i...

TargoviЕџte municipality, the capital city of DamboviЕЈa County, lies in the Plain with the same name, at the junction between this plain and the IalomiЕЈa Sub-Carpathians, at the absolute average altitude of 280 m, being crossed by the IalomiЕЈa River on about 18 km. Its first documentary mention dates since 1396. It was the capital city of Wallachia, between 1418 and 1714, and is considered one of the great cultural and civilizational centers of the Romanian Middle Ages. As residence of an impressive number of v...

The article is the result of scientific - research activities focusing on preparation of models for streamlining solutions and forecasting financial risk of business entities. In more detail we have been focused on the processing of in-company risks, but also the impact of the external environment of risks. The aim of this paper is to analyze the impact of selected risks on the performance of the hotel facility with the application of mathematical - statistical methods. To achieve the aim of the article were proce...

EU countries applying for membership in the monetary union have to fulfill so-called convergence criteria known as well as the Maastricht criteria. One of the prerequisites for its completion is also achieving macroeconomic balance, which contributes to the performance of the economy and increase the growth of competitiveness. Slovakia recorded significant real GDP growth for the period of years 2005 - 2008, which contributed to the fulfillment of the convergence criteria and Slovakia's entry into the monetary uni...

The experience economy implies, in tourism marketing, the necessity to adopt a vision according to which the fulfillment of consumer needs can be achieved a mid its desire for individualism, only by means of interaction with all the destination elements relevant for him/her. From this perspective, the activities which can be developed within the tourism product represent direct contact points with the consumer personality, the potential experiential value being rendered by its degree of association with the experi...

Experiences from the development of the world economy in the first decade of the 21st century shows that the economies of many countries were hit by crisis processes that gradually occur with varying intensity in the form of mortgage, financial, economic, but also political, social, debt, as well as moral, systemic crisis and as well as the crisis of civilization. World global crisis was initially perceived as a crisis, which only applies to the USA. Gradually, as the crisis processes were deepening in other count...

It is widely accepted that a high level of scientific, technological and engineering development has become a source of national wealth. As a consequence, authorities in different countries are facing the issue of managing all the components of knowledge transfer. The aim of this study was to define an optimal long-term technological policy. This study performs a comparative analysis of traditions, history, as well as actual similarities and differences between technological polices in Germany and Russia. It is fo...

On 1st May 2014 we commemorate the tenth anniversary of the entry of the CzechRepublic into the European Union (EU). Benefits which the Czech Republic gained thanks to the EU membership are indisputable. The Czech Republic became a member of an important integral group and integrated so into democratic European countries struggling for meeting their common targets – to support peace, democratic values and high-quality life of their inhabitants - life guaranteed by the dynamic and competitive European economy. Th...

Nowadays, seeing the prosperity of people growing and the desire of the public to take social responsibility, there are more and more social enterprises developing, whose purpose of activity is not only making profit but, most importantly, dealing with social problems for the public benefit. The purpose of this study is to examine the experience of social enterprises, to detect problems and to work out propositions for the development social enterprises in Latvia. To reach the aim, a survey and analysis was undert...

When some European country willing to aspire to the membership in the Eurozone, at first it must cover the Maastricht convergence criteria, which are divided into fiscal (government deficit, public debt) and monetary (price stability, exchange rate stability, stability of long-term interest rates). The basic requirements for criteria were settled at the time of their formulation in the Protocol to the Treaty of European Union. There was the requirement to ensure a high degree of sustainable economic convergence. C...

In the current period has been observed that companies that pay attention to the continuous training of its staff and maintaining a career development program better suited to market requirements achieve superior financial and economic performance. Our study aims to measure the growth and learning potential impact on the financial performance of the company, based on a sample selected from the South West Development Region Oltenia –Mehedinti County.

The paper aims characterize the importance of inflation for monetary policy in the euro area and the U.S., to analyze the evolution of inflation in 1999-2012 and define potential risks, which could in the future affect its growth, In this paper we will compare inflation in the euro area and the USA from 1999 to the 2012, and we use correlation analysis to assess the relationship between inflation in the euro area and the USA with selected monetary indicators such as interest rates, exchange rates, monetary aggrega...

SME's growth performance is largely dependent on the quality and level of training of the human factor. Economic activities are conditioned by the existence of financial and material resources, information and the existence of human resources. Increasing productivity performance depends on the activity carried out, equipments, installations, but also on the training level of workforce. Workforce with superior training and the application of modern methods of selection and recruitment have a significant impact on t...

This article discusses methodological issues for evaluating the cultural and historical potential and possibilities of its application in development of the tourist industry in Republic of Tatarstan. Need for study historical and culture heritage explained by its importance in the overall structure of recreation and tourism. He advocates a kind of foundation on which are formed and implemented a variety of tourism activities. The study should be comprehensive, given its multifunctional structure, including natural...

The paper deals with controlling as one of the most important tools (approaches) of corporate management. It lays out possibilities for its interconnection with knowledge management as a crucial management tool of firms active in the knowledge economy and in the so-called knowledge society. Possible relations between controlling and knowledge management and other related management tools are examined and described. Their interconnection with the controlling system of a firm multiples its assets in terms of the syn...

The main purpose of the paper is the justification of modern scientific directions of innovative processes in the field of enhancement of the higher engineering education for forest industries' needs, providing its prestigious positions in the world. Now the value assessment of wood resources is underestimated because of unreal value in use that leads to decrease of the wood income. Growth of the wood income is possible on the basis of the new forestry busyness concept the meaning of which consists in a real estim...

The paper presents technique of fuzzy rated assessment of company's competitiveness. Rating evaluation of companies is a reasonable and practical approach for competitiveness assessment. To calculate the rating can be used not only quantitative indicators of competitiveness but also qualitative indicators. The information about uncertainty of the environment is included in the technique by using methods of the fuzzy sets theory. Quantitative and qualitative factors of competitiveness are selected depending on the ...

The aim of this study is to define the contexts in which wineries work. The paper presents a comparative analysis between two wine districts of Piedmont (Italy), located in the provinces of Cuneo (Langhe), and Asti (Monferrato). Even if these two wine districts differ in terms of territory, history, and traditional wine production, both are attractive in terms of industrial tourism (wine and food sector). Each district has its own “wine routes”: in the province of Cuneo there is the “Strada del Barolo e gran...

The objective of this paper is the issue of transfer of human resource management (HRM) practices in international organizations. The transfer of HRM practices from the home country to the host country is a difficult process affected by various factors caused by the cultural and institutional environment as well as by the characteristics of an international organization and its subsidiaries. The aim of the paper is to provide an analytical view of the transfer of compensation practice utilising data from a study p...

In recent years, the labor market for young people include to most flagrant problem not only in Europe but worldwide as well. The strategy Europe 2020 has different options for solving the problem of low young people employment at the macro level. In our paper, we have strived to contribute to the expansion of a general view of the unemployment in general and employment of men and women aged 15 to 24 years old. We focused on the current unemployment problem, especially for young people in the European area. Based ...

The article describes the importance of ascientific component and the academic reputation in terms of global university ranking .Features of the labor relations between universities and scientific pedagogical workers within contractual contracts of employment.The essence of the effective contract andc

The paper focuses on inventory management in a distribution company, particularly on modeling and optimizing stock level of purchased and sold goods. Inventory theory consists of different optimization models, however, it turned out that their application in specific situations is not simple and needs to be more or less modified. The paper presents new designed inventory optimization model that modifies theoretical models. The goal of the paper is first to present the modified inventory optimizing model and second...

One of the most important expressions of the current structural changes in the developed countries is the growing importance of the tertiary sector (also known as the service sector), which has been recorded primarily over the past twenty years. Currently, the OECD countries produce in services about 70 percent of the added value and the development of this share has continued to have a growing trend [1]. Prosperity of the country as a whole is thus significantly affected by the performance of companies providing ...

The article is devoted to the problem of improvement of methodology for the analysis of urban territories, allowing taking into account economical, environmental and social considerations in their sustainable development. In particular, the authors touch upon the problems of identifying the best alternatives and constraints in the development of strategy of individual urbanized areas or areas of large cities development. The main purpose of the research is algorithmization of the process of formation of input data...

Energy efficiency enhancement is one of the most important courses of works realization that is aimed at the increase of enterprises competitiveness in various industries and fields of activity, which is of particular importance in a globalizing world economy. One of the deterrents, which restrains activities enhancement processes in the field of energy saving and energy efficiency increase, is a relatively low priority problems to be solved compared to the other problems of enterprise development. The paper propo...

Increase in food quality leading to higher customer satisfaction is not a straightforward objective of the firm whenever an increase in quality is related to an increase in costs. The purpose of this paper is to determine whether providing high quality food products generally yields higher profit for the firm than pursuing the opposite, when university students are the consumers. This paper approaches the relationship between customer satisfaction and firm profitability from the perspective of the satisfaction-pro...

This paper investigates the development of Lithuanian intra-industry trade. The purpose of the research is to estimate the changes of Lithuanian intra-industry trade development under existing conditions. Seeking to define the changes of Lithuanian intra-industry trade, the basic methods of intra-industry trade measurement, the changes of intra-industry trade development and the importance of intra-industry trade on the development of trade structure between Lithuania and the EU are analyzed in this article. For m...

Companies from various industries are looking to find the right “formula” towards improving performance and profitability without putting at risk the relationship with their customers. Specialized industries such as golf course sector require a special approach for pricing policies and rate fencing due to high seasonality, capacity constrain and high operational costs. The purpose of the study is to investigate if rate fences can be implemented in the two golf course locations analyzed. Based on the outcome of...

In the article we proposed the definition of the vector of human potential development which connects social orientation of economics, processes of post-industrialization and of globalization. Social orientation represents the main goal of socio-economic development, a way of its achieving is represented by post-industrialization and globalization is a criterion of more effective use of resources. The realization of principles of socially oriented economics promotes a progress of society and of an individual in th...

The poverty and income inequality indicators in Latvia are among the highest in the European Union, which indicates its social stratification and polarisation. The mathematic calculations show that there is a risk that the number of low-income individuals might gradually increase over the next years and their number may be estimated at 372 thousand in 2015. However, any forecast on the number of low-income individuals can be considerably affected by changes in wages, the unemployment rate, labour emigration, and t...

Religious tourism is one of the most wide-spread forms of travelling in terms of its volume but also of its extent. Study of the religious tourism is significant in terms of its protection of cultural heritage, its historical aspect as well as in terms of its contribution to the regional development. A comprehensive view on the status of using Slovakia's great potential for religious tourism is absent; a systematic research of religious tourism on the national level is unsatisfactory. Available studies and analysi...

Transnational corporations grew up rapidly in 90s years of 20th century. They have acquired very strong position in world economy and started to play an important role in influencing particular national economies. Transnational corporations affect host economies through two channels – by foreign direct investment and international trade. Objective of the paper is to estimate the importance of foreign direct investment inflow, export and import on labour productivity and unemployment (two most common factors in a...

Economy appears to have always been driven and determined by the development of needs, with consumption increasingly viewed as the major tool of needs satisfaction. The article is devoted to the analysis of the impact of global changes on consumption processes with the view to identifying the current trend as towards quantification or, conversely, qualification. The authors outline the evolution of scientific approach to and views on the phenomenon of personal consumption, and resort to scientific research papers ...

In recent years, there has been an increasing need for the development of human capital, which is currently recognized as a further factor of economic growth. However, the importance of human capital has always been influenced by the development of human society. In the past 20 years, the importance of flexible work force, well-motivated and highly skilled has become en revealed. The openness of economy has changed not only our lifestyle but the labor market as well. This is why employers, in accordance with their...

Tourism has a significant influence on the economic and social progress of the territory; therefore the development of this particular industry becomes a priority. The article analyzes the peculiarities of promotional marketing of national Russian tourism product on the domestic and foreign markets, defines basic problems of the industry, and suggests their solutions.

This research is devoted to revision of modern functions of accounting taking into account change of environment and internal potential of registration procedures. It is obvious that development of the public relations objectively promotes improvement and modification of the content of the main functions of accounting according to modern expectations of interested parties. Traditionally in a control system the accounting performed the following main functions: control, ensuring safety of property, information, fee...

The eurozone crisis represented one of the most important factors influencing the global economic evolution, affecting the comercial exchange dynamics, the financial markets risk perception and the thrust of the economic operators. Due to the unpredictable external environment conditions, the commercial banks operating in Romania were forced to cope with the impairment of the economic potential and the unfavourable evolution of the currency market (altering the real lending demand), the increase of the credit risk...

At present, Romanian academic education financing is at a crossroad. The effects of the regulatory changes occurred in 2011 with the adoption of the new National Education Law, as approach of harmonization with the European standards in the area, are still strongly felt. Even though significant progress has been made towards permanent modernizing budgetary resource allocation methodology for education, the percentage of GDP distributions to support this priority area is below the minimum of 6\% provided by the app...

Optimal structure of the equity and debt capital is continually debated topic on theoretical as well as practical level for decades. Financial managers when they make decision about the sources of the company resources are influenced by various factors –from the economic reality of the country in general to specific conditions of individual capital providers. Our contribution is focused on decision making process in selected debt capital's financing of business activities. The aim of the paper is to discuss bene...

This contribution is devoted to the issue of calculating Economic Value Added, as one of the most important business performance evaluation indicators. It elaborates and analyses business value calculation inputs as well as inputs for calculating Cost of Equity. The mentioned issue was solved mainly by application of Capital Asset Pricing Model and build-up model in various scenarios. Risks entering the Cost of Equity are verified with the use of statistical methods. Research sample analysis revealed that when cal...