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A STUDY CASE ON CSR AND MANAGERIAL CULTURE IN THE EASTERN ROMANIAN PRIVATE BUSINESS
Get PDFThe Corporate Social Responsibility (CSR) is a prerequisite for business growth, through innovation and business opportunities providing, in order to make the difference between companies, in the high competitive environment. In our view, the CSR must be integrated and developed inside the company strategy, as its basic set of moral values and principles that reflect the company goals. In this scientific approach, we have explained the concept of Social Responsibility both in terms of theory and as an analysis support for practical issues, in some eastern Romanian companies. The paper is oriented for achieving two main goals: to determine the main Social Responsibility actions made by the companies and to demonstrate the importance of their implementation; to explore the impact of the CSR activities on an expected advantageous position of these companies on their markets. Considered as a direct beneficiary of the community where it belongs, the company returns a part of its success to the community through its active participation in the critical general problems. A company that does not respect the environment, the community, its employees or the ethical principles, will lose credibility and will move away customers and suppliers
YOUNG PEOPLE\u27S PREFERENCES FOR ROMANIAN AGRO ALIMENTARY GOODS
No full textBased on the results of a research undertaken among young people (18-30 years), students of the Faculty of Economic Sciences of the Vasile Alecsandri University of Bacau, this paper reveals their preference for local or foreign brands (on the Romanian market) for various categories of food products. It is also highlighted their views on certain essential evaluation criteria for food products (sanogenetic potential, value for money, appearance, taste, availability within commercial network, promotions, image), comparing Romanian and foreign products. The survey shows that the preference for Romanian brands applies particularly to: eggs, bakery products, grain mill, milk and dairy products, fruits and vegetables, meat and meat products (over 50% of the investigated people). A large proportion of young people believes that Romanian products are tastier and healthier than foreign ones, the better image enjoyed by foreign brands being a result of the promotion and packaging of products and not the quality of product; they also believe that Romanian brands are insufficiently promoted nationally, perceiving offer of imported products as being broader than the local one. The research was conducted on a sample of 100 students selected by the group sampling scheme and has an exploratory role for the community of 18-30 years people in Romania, offering, for it, only an indicative perspective on the raised issues
ROMANIAN BRAND NOTORIETY AMONG YOUNG PEOPLE
Get PDFBased on the results of a direct research conducted in April 2016 among students of the Faculty of Economic Sciences of the Vasile Alecsandri University of Bacau, this paper highlights the notoriety of Romanian brands in general, as well as for product categories: food products and alcoholic beverages, cosmetics and personal hygiene products, cleaning products, clothing, footwear, consumer electronics and cars. The research was conducted on a sample of 100 respondents aged between 18-30, having an exploratory character. We studied unaided brand awareness, respondents being asked to indicate the top three brands that come to their mind for each evaluated product. The results of the study revealed the most recognized Romanian brands on the investigated sample, both in terms of known brand enunciation among the top three, and as first nominations made (Top-of-mind awareness)
CONVENTIONAL AND UNCONVENTIONAL MONETARY POLICY. THE CASE OF ROMANIA
Get PDFThe aim of our paper is to analyze the conventional and unconventional monetary policy in Romania, in the context of the recent financial crisis. We study the relationship between interest rates and credit risk, but also the non-standard monetary measures that were adopted by the National Bank of Romania and their impact on the banking system. Our results point to a decrease of interest rates in the years after the crisis, which is in line with the majority of central banks that have reduced monetary rates in order to sustain the economy and the credit activity
OPERATIONAL RISK MANAGEMENT APPROACHES WITHIN AN INVESTMENT FUND. SIF MOLDOVA CASE STUDY
Get PDFOperational risk management consists in the identification and measurement, as complete as possible, of these risks, so that the company to be able to establish appropriate measures to avoid, reduce, transfer or accept, consciously, the risk. The main goal is prevention. Operational risk management is a complex process which involves their identification, assessment, monitoring and management. Starting from the European legislation, SIF Moldova has developed and adapted its own operational risk management system, targeting mainly its identification and evaluation, the analysis of activities vulnerable to operational risk, the establishment of the potential risks for each type of activity, the limitation of the operational risk caused by improper data processing, the implementation of internal regulations on the prevention and discovery of facts that can generate losses. To ensure an adequate quality of operational risk management and of the activities related to their control as well as for maintaining an appropriate level of accuracy on information provided to the supervisory authority (ASF), it is essential that the investment fund to build a stable and viable database, containing information relating to extended periods, and to ensure continued maintenance of this database
CREATING VALUE WITHIN CONSUMPTION CULTURE
Get PDFThe issue of culture consumption is a particular concern within the modern marketing theory. Culture can be seen as representing a body of knowledge, beliefs, values, attitudes, symbols etc, developed in a certain period of time by a group of individuals, items transmitted with the help of a social learning process to other generations within the group. Thus, the consumption of culture will identify itself with the consumption of any product, service or a combination of them, directly resulted as manifestation of culture, expressions of artistic creativity specific for a certain cultural space. The present paper proposes the analysis of the phenomenon referring to the culture consumption in terms of specific characteristics. The paper reviews the features specific to the modern consumer of culture, the relationship that exists between the individuals’ level of education and the culture consumption and value creation process or augmentation of the intrinsic value of an artistic product as a result of the contribution that the culture consumer can bring himself. The authors highlight the fact that within extremely complex processes which are defining the culture consumption, consumers can assume an active role, becoming on their turn co-participants in the cultural goods and services value creation and transmission. The modern consumer benefits more than ever from the advantages offered by the information technology, being called to respond to major challenges of the postmodernism paradigm in terms of culture consumption. Globalization and other social economic and politic phenomena have profoundly changed the reports between individual and culture, between self and other members of the society, causing synthesis and essential transformations of culture consumption, of culture consumers typologies, and not least of the very forms of artistic expression related to cultural goods and services
EFFECTIVENESS OF CAPITAL MARKET DERIVATIVES IN HOUSING DELIVERY OF NIGERIA EMERGING MARKET
Get PDFThe capital market is unarguably the most robust institution in any economy notable for mobilizing the necessary fund for financing long-term productive project. It controls relatively large amounts of capital and represent the largest institutional providing long-term credits for capital project like real estate that requires huge capital outlay. This study therefore, attempts an investigation into the effectiveness of capital market derivatives in housing delivery in Lagos. An empirical survey research was conducted in Lagos, using a random sampling technique with a structured questionnaire to collect data from 147 respondents comprising 89 stockbrokers and 58 real estate developers in Lagos mega-city. Data collected were analyzed with SPSS using descriptive and inferential statistics. The result revealed that 56.7% of the observed variations in housing delivery (R2= 0.567; p< 0.05) is explained by capital market derivatives, which suggests that, proper utilization of capital market derivatives will enhance and improve housing delivery in Nigeria. However, this is not been adequately used by developers of real estate projects in the study. Thus, the study recommends amongst other remedial steps that a synergetic effort should be created between the capital market and real estate developers which will enhance effective housing delivery, the development of people and the Nation
FESTIVE FOOD BRANDS AWARENESS AMONG YOUNG PEOPLE ON ROMANIAN MARKET
Get PDFIn this paper are presented some of the results obtained through an exploratory research carried out in the month of April 2016 on a sample of 100 students from the Vasile Alecsandri University of Bacau, referring to awareness of festive food brands on the Romanian market. Festive products have special sensory properties designed to especially satisfy gastronomic indulgence and not nutritional needs of individuals. Thus, we studied a number of categories covering mainly food products for the pleasure of eating, namely: confectionery, coffee, tea, chips and snacks, soft drinks and alcoholic beverages. Thus there are shown brands that enjoy the highest spontaneous awareness in the investigated sample, young people undergoing investigation being asked to indicate the top 3 brands that come to mind for various product categories investigated. The study shows both the brands which enjoy the highest top of mind awareness and those brands which were nominated by most respondents among the top three of which they remember
APPLICABILITY OF CONSOLIDATED TECHNIQUES IN THE VIEW OF ROMANIAN ACCOUNTING REGULATIONS
Get PDFThe accounting regulations are more and more interested in groups of companies. In some cases, these regulations require for preparing the consolidated financial statements. This is the task of the parent company who keeps the consolidated accounts. To accomplish its goals, the consolidated accounting uses a couple of, so-called, consolidation techniques. These are applied in the case of groups of companies with a complex structure. Their goal is to elaborate the consolidated financial statements using a set of methods and empirical skills. In this article we synthetize and apply the consolidation techniques in the view of Romanian accounting regulations. The Romanian practice has revealed, especially, two techniques: one based on direct consolidation and another one based on multiple levels (phased consolidation). Therefore, this work regards only the technical side of consolidated accounting, accounting records being evaded. Furthermore, we focus only on the preparation of the consolidated balance sheet in the case of some hypothetical groups of companies
THE IMPORTANCE OF HUMAN CAPITAL IN THE STRATEGIC DEVELOPMENT OF AN ORGANIZATION
Get PDFIn this new world where the level of information has reached overwhelming thanks to new technologies , the human capital embodied in a stock value, skill and knowledge, becomes the main factor of production in the new economy. In this paper I have tried to emphasize that, this relatively new concept such as human capital has become the main motor of organizational development, representing one of the most important advantages of firms to work properly in their environments. The economic growth is conditioned by human capital development; current trends are changing and organizations change their outward form of thought and action and they enhance their human capital (this intangible asset too little highlighted and measured) from the desire of being more flexible and easily assimilated by the market in the future. For modern companies, human capital has become a “golden coin” with 2 sides called: 1) capability (the ability to provide solutions to customers through knowledge, skills, know-how, and talent); 2) attitude (the ability to profitably use these values of the organization). In conclusion, human capital is measured using IQ and the productivity of modern economies depend largely on investment in knowledge and skills, although statistics in Romania do not include costs and expenses of human capital