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THE ECONOMIC RISK IN TRADING COMPANIES’ VALUATION
Get PDFThe negative influence of internal and external factors on the enterprise’s operating activity may lead to the realization of losses and economic-financial imbalance of the enterprise. Such situation leads to the economic risk, which can be avoided by diagnosis analysis. The manifestation of the economic risk has repercussions in: obtaining profit from operating activities, the maximization of the enterprise’s value and the increase of the market share. The operational risk can be detected by the method of forecast analysis “cost-volume-profit” or via coefficient of lever exploitation. This paper aims, on the basis of the information of a commerce company, to reveal the influence of risk in assessing the enterprise, as well as the possibilities to maximize its value and the increase in economic and financial performance in a competitive environment. The results of the research demonstrate the impact of the circulating expenditure structure on the enterprise’s financial results, as well as on equity
THE ROLE OF SMALL BUSINESS IN ECONOMIC DEVELOPMENT OF EUROPEAN ECONOMY
Get PDFSmall businesses provide catalytic benefits to the economy. They contribute to national output, and to the society as a whole, beyond the spending and profit they generate. The role of SMEs is crucial for the European economic recovery – their number, employment capacity and value added constitute a large share of the European economy. Providing the right conditions in which SMEs can flourish is paramount for ensuring a sustained recovery and achieving prosperity for all EU citizens. There is no single agreed definition of an SME. Early definitions of ‘small’ businesses were largely qualitative. SMEs are generally considered to be non - subsidiary, independent firms which employ fewer than a given number of employees. For many small businesses, going global is no longer just an interesting to do – it is essential to the long – term health and performance of the company. Across the EU policies are being developed at regional, national and transnational government level that see SMEs as the only positive way of creating employment and generating increased local growth for the community
THE IMPACT OF THE LEGISLATIVE ENVIRONMENT ON THE EUROPEAN PARLIAMENTARY ELECTIONS IN ROMANIA
Get PDFThe accession of Romania to the European Union on the 1st of January, 2007, after the Accession Treaty, signed on the 25th of April, 2005, was ratified by all the Member States of the Union, led to changes in the legislative environment governing the electoral market. Our country organized in May 2014, for the third time, elections for the European Parliament. The election system practiced in Romania does not provide incentives for candidates to develop a competitive election bid, explained in detail to the electorate, so the performance during the mandate can be assessed. The Romanian representatives in the European Parliament are elected under a system of closed national list vote, which reduces the power of voters to distinguish the candidates in the vote. At the European Union level, there is not a unique voting system adopted, in the context that most Member States practice competitive electoral systems, in which candidates have the opportunity to differentiate themselves by an electoral offer
THE IMPACT OF RISK OF POVERTY ON SEGMENTS OF THE MARKET IN ROMANIA
Get PDFIn the present work I presented the risk of poverty in Romania considering the economic and social determination. I highlighted that poverty in Romania, is a mix of economic, educational, cultural etc. factors and reinforced by the lack of family or social support. Among the most significant correlative causes of poverty are: lack of money-unemployment, low salaries, lack of money, lack of food-hunger, deprivation, misery, lack of culture, lack of housing, disease, decay, addictions, political causes, individual causes, etc. I analyzed the dynamics of the decision-making behavior of the population of Romania both as a whole and as segments of the market, in terms of age, sex, residence environment, etc. in the market acts, regarding the purchase and consumption decision. The approach and treatment of the poverty must be understand regarding to the systemic economic-social-psychologically interaction. The impact of risk of poverty on the segments of the market is reflected in the production of goods and services; increasing of this type of risk lead to diminishing and modifying the request and further lead to diminishing supply, business failure, etc
FUNDAMENTAL ASPECTS OF COMMUNICATION MANAGEMENT, IN THE CASE OF PUBLIC ADMINISTRATION
Get PDFEfficient communication is one the most important instruments used for the purpose of generating change inside and outside an organization. It can contribute to adjusting attitudes and the manner of approaching the present and future challenges and to changing behavioral patterns. The mission and the objectives of organizational communication are highly interrelated with organizational change and environment characteristics, in which the organization functions. The communication performed by the public administration institution outside is an institutional communication, extra-organizational, which presents the following purposes: strengthening its image, stimulating an environment of trust and affinity from the citizens (Kotler & Lee, 2007). We are of opinion that the management of communication performed by a public administration institution features three fundamental aspects, relevant for institutional communicators when designing and managing the institutional communication: communication efficiency, communication process and the implications of the new information and communication technologies (ICT) for this process
BUSINESS ETHICS, BETWEEN THE THEORETICAL CONCEPTS AND THE ROMANIAN FIRMS’ PRACTICES
Get PDFBusiness ethics reflects the philosophy of business, of which one aim is to determine the fundamental purposes of a company. If a company\u27s purpose is to maximize shareholder returns, then sacrificing profits to other concerns is a violation of its fiduciary responsibility. Ethical issues include the rights and duties between a company and its employees, suppliers, customers and neighbors, its fiduciary responsibility to its shareholders. Issues concerning relations between different companies include hostile take-overs and industrial espionage. Related issues include corporate governance; corporate social entrepreneurship; political contributions; the marketing of corporations\u27 ethics policies. Business ethics issues are complex, due to the extensive consequences, to the many alternatives and to the conflicting results, uncertainties and the personal implications. Managers make decisions and develop actions affecting the others; if the effects are adverse, if the others are suffering, then we are dealing with an ethical issue that requires a certain level of an ethical analysis, in addition to the usual economic analysis. But what is more important above all is the recognition that every business decision or action that may affect the others. In the business Romanian environment the unethical behavior is not just an exception
TOWARDS A DEFINITION OF CONTROLLING
Get PDFControlling is a concept that is still subject of many controversies. Nowadays, it is used both in theory and in practice to designate a variety of activities. The paper aims at shedding light on this enigmatic concept. First of all, the author offers an overview of the historical roots of “controlling”. Secondly, different definitions of the concept of “controlling” are contrasted. The author comments upon two types of definitions: concepts oriented towards the goal to obtain results (profit, turnover, low costs) and concepts oriented towards the universal goals of the company (e.g. product-related, environmental, social goals). Last but not least, the paper identifies the different perspectives used when defining the concept, in order to provide the proper background for understanding “controlling”: the information-oriented perspective, the coordination-oriented perspective and the reflection-oriented perspective, and the rationality-oriented perspective
DIMENSIONS OF THE MARKET RISK
Get PDFThe present work presents the concept approach and the types of the market risks, considering the representatives of the two correlative dimensions of the market: the supply and the demand. This approach dissociates from the other ways to define and to manage the market risks by the message that it communicates: all the types of risk caused by the market activities are market risks. These are anthropic risks, based on information and decision. From the point of view of source, the market risks or the decisional risks have the actions of the deciders (natural person or legal person) to achieving the personal goals or mission or the objectives of the firm which they represent. The market risks are those which pose a threat to the attainment of the major objectives or purposes and to maximizing of advantages: the utility for the consumer and profit for the enterprise. The results of the dynamic interdependences are determined by the optimal management of each type of risk, taking into account the system of risks and the potential for transformation of the risk-cause in risk-effect and vice versa
LEGISLATIVE FRAMEWORK OF BROADCASTING IN ROMANIA AND IN THE EUROPEAN UNION
Get PDFRomania’s adherence to the European Union implied the previous and entire acceptance of the Community acquis in force on 31st of December 1999. Our country didn’t request any period of transition or of derogation in this meaning, being among the first states from East Europe that regulated the audio-visual department, after the occidental model. In order to harmonize the Romanian legislation with the European standards, The National Council of the Audio-Visual Department adopted and transposed a whole range of acts and decisions that we will try to synthesize in our paper. In the adoption of the acquis, the NAC has to watch whether the adopted decisions are conform to the progress at European level. It is necessary to continue strengthening the administrative capacities of NAC to ensure a transparent and predictable implementation of the regulatory framework in the field of audiovisual policy. In Romania, the normative acts that regulate aspects concerning general advertising and promotional communication through television are: Advertising Act and the Broadcasting Act
ASPECTS CONCERNING INTERIM FINANCIAL REPORTING IN ROMANIA: STANDARDS AND REGULATIONS
Get PDFThe mechanisms employed for the communication of accounting information that is necessary for users in their economic decision-making process consist of the financial statements of an entity. All legal entities, no matter the domain of their activity, have the obligation to draw up annual financial statements for every completed financial year. For certain categories of entities, reporting obligations are also required for periods other than the annual reporting, throughout the financial year. It is the case of interim financial reporting. At the level of the international accounting framework, the aspects related to interim financial reporting are the subject of a separate standard, namely, IAS 34 Interim Financial Reporting. In Romania, the current system of accounting regulations concerning the annual financial statements comprises accounting regulations that comply with the European directives and which apply to the various categories of entities, on the one hand and, on the other, accounting regulations in line with the IFRS, which are applicable to other classes of entities from certain activity sectors. The accounting regulations that apply to each category refer to, among other things, the contents and the format of financial statements that have to be presented. Analysing the system of norms and regulations, this article identifies the requirements concerning interim financial reporting in Romania, with reference to the different types of entities