Management Dynamics in the Knowledge Economy (E-Journal)
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Knowledge-Based Economy as a Foundation for the Economic Development of Countries
Get PDFThis paper highlights the relationship between knowledge and economic development. The study considers nine countries grouped in three different development models: 1) the Asian model includes Japan, the Republic of Korea, and Singapore; 2) the Anglo-Saxon model includes the United Kingdom, the United States, and Canada and 3) the European model includes Germany, France, and the Netherlands. The data was sourced from the Global Competitiveness Report of the World Economic Forum, the PISA reports, the Academic Ranking of World Universities (ARWU) and the Global Innovation Index of the World Bank. The Asian group ranked highest for innovation as shown through the application of patents; they also obtained the highest scores in the PISA test. The Anglo-Saxon group stood out by having a good institutionalized knowledge system. From the European group, Germany is recognized by its innovation capabilities and the Netherlands by the quality of its higher education
Employer Branding and Talent Management in the Digital Age
Get PDFIn the digital age, organizations need to reinvent themselves at a structural level and to become agiler. Digital maturity of human resources management implies a shift from traditional paradigm on workplace towards engagement, learning and development of employees and search for talent. This paper focuses on identifying the major trends and strategies concerning talent management programs and development of digital skills for employees and managers. The study reveals that in an open talent economy, employer brand is very important in recruiting and retention of high potential employees and must be focused on learning & leadership development, mobility, rewards, and competency systems. At present, in order to obtain a business value, one of the major challenges that HR needs to face is the development of digital skills for managers and employees
Foreword. The Knowledge Economy: The Present Future
Get PDFAll the statistics and evaluations show that the Knowledge Economy is our future. However, a close look at the developed economies demonstrates that the Knowledge Economy is already here, shaping our present time. Although there are many definitions of this new economic framework, their core content stresses the importance of data, information, and knowledge in the production of goods and delivering services in creating value for society. For instance, Powell and Snellman (2004, p.1999) define the knowledge economy as “production and services based on knowledge-intensive activities that contribute to an accelerated pace of technical and scientific advance, as well as a rapid obsolescence. The key component of the knowledge economy is a greater reliance on intellectual capabilities than on physical inputs or natural resources”. In the knowledge economy, knowledge becomes a strategic resource (Davenport & Prusak, 2000; Nonaka & Takeuchi, 1995) and knowledge strategies contribute directly to the competitive advantage (Bratianu & Bolisani, 2015). In this new economy, data, information, and knowledge are the driving forces of development and the knowledge economy is the engine of the global economy growth..
The Conceptual Review of Interaction Between Corporate Wisdom and Corporate Entrepreneurship
Get PDFWisdom is an important point of view in the literature as the highest desired attainment of knowledge management and a new goal. Wisdom is a mysterious concept existing at the top of the hierarchy of data, information, and knowledge that occurs by the evolving of knowledge with experience and thought. This concept constitutes institutional wisdom when dealt with on an institutional basis. Today's competition conditions move corporate wisdom understanding on the agenda due to the insufficiency of traditional knowledge management approach towards sustainable targets and keeping the business vulnerable to rapidly changing conditions. Entrepreneurship is one of the most popular phenomena influenced by the developments in knowledge management. Entrepreneurship necessitates the creation of value by seeing opportunities, reaching different information before others, and using it differently from others, thereby becoming a member of the information society. Entrepreneurship processes aiming to create value through transformation and innovation studies in an existing organization are called "corporate entrepreneurship". Corporate entrepreneurship is a capability that enables businesses to gain competitive advantage through conscious efforts which actuate internal and external initiatives against changing conditions and uncertainties. It is thought that the factors of corporate wisdom understanding are interacting with elements of corporate entrepreneurship. In this study, a conceptual review is carried out in order to reveal the mentioned interaction, to take all dimensions of the elements which the concepts are based on
CSR and Social Entrepreneurship: The Role of the European Union
Get PDFThe aim of the paper is to analyze the status of non-financial information disclosure in the European Union in order to evaluate the level of acceptance of social responsibility practices. The research is divided into two sections and the approach used is mainly theoretical and qualitative. In the first part the UE financial and non-financial information regulations are analyzed; the European Union launched a process of harmonization then subsequently it moved to the standardization process: the Regulation (EC) No. 1606/2002 is part of the standardization process (It must be applied in its entirety across the EU) while the Directive 2014/95/EU is part of the harmonization process (it sets out a goal that all EU countries must achieve). The Directive 2014/95/EU states that “large undertakings […] shall include in the management report a non-financial statement […]” thus making mandatory the preparation of non-financial statements. In the second part of the research, not considering the firm only as a system for the production of financial/economic value but also as an economic social actor which operates in a social environment to which it belongs and with which it interacts, the concept of social entrepreneurship is explained. Social entrepreneurship belongs to the entrepreneurs who draw up the social balance, required or permitted by the UE legislation. For this reason, the introduction of obligations in disclosing non-financial information could lead to the increase of entrepreneurship, with positive consequences in the creation of tangible benefits to both the business community and the global community.
E-Learning Solutions for A Changing Global Market. An Analysis of Two Comparative Case Studies
Get PDFThis paper investigates the models and acceptability of e-learning to the emerging student markets for higher education institutions (HEIs) from the more developed countries (MDCs) and seeks to evaluate the different models of delivery from a practical and a socio-economic perspective. The research also investigates the impact of the shifts in population growth and the subsequent impact upon the levels of demand from students in less developed countries (LDCs) for HE. In addition, through case study review methods the logistical and quality factors affecting e-learning are critically evaluated, looking at the aspects of academic rigor, plagiarism and the methods of managing the originality and authenticity of student work. Similarly, the research considers the viability of situations where the education provider may never physically meet the students through the exclusive use of Virtual Learning Environments (VLEs), and the possible credibility issues that this may present to institutional and awarding body reputations
CSR and Sustainability Report for Nonprofit Organizations. An Italian Best Practice
Get PDFThe purpose of this paper is to analyze the sustainability report for the communication of Corporate Social Responsibility (CSR) in a nonprofit organization. To this aim, an Italian case study is analyzed: the Fondazione Renato Piatti Onlus, a nonprofit organization of Social Utility. In the first part, we analyze the CSR for nonprofit organizations and the sustainability report (also called ‘social balance’). In the second part, we present evidence from the case study. The research is exploratory in nature when considering the connection of corporate social responsibility efforts to the nonprofit sector, a qualitative methodology was chosen over quantitative methods. Specifically, the case study was used to show what strategy a nonprofit organization can develop. Nowadays CSR strategies received a growing attention from both businesses and nonprofit organizations but also from the EU which forced large public-interest entities to present a social balance. For nonprofit organizations, applying social responsibility is not a voluntary issue. Nonprofit organizations have an ethical obligation to their stakeholder and to the public to conduct their activities with accountability and transparency. Scholars have increasingly been studying the impact of corporate social responsibility as a business strategy in for-profit companies. However, there is still lack of researches on how nonprofit organizations implement CSR into the strategy. As a consequence of the above remarks, a large part of nonprofit organizations fails to correctly implement a successful long term CSR strategy. The Fondazione Renato Piatti Onlus belongs to that group that has been able to incorporate social responsibility within the organization, then expanding its content into a social report drawn up in accordance with the guidelines of the Italian Agency for the Third Sector
Online Buyer's Perspective of E-Shops Credibility: Measurement Dimensions
Get PDFAddressing the debated topic of credibility in online sales, the present study analyses buyer's perspective. The study develops from the literature to test and refine a multi-dimensional measurement of e-shops credibility. Consumer's criteria for assessing e-shops credibility are empirically examined with 817 Romanian student participants. Detailed approach and methodology, as well as the results obtained, research conclusions, limitations, and implications, are presented. The study advances an instrument which reveals new dimensions of establishing credibility although most aspects were found to be similar to results previously presented in other studies. The proposed instrument offers a new multidimensional measurement and knowledge resources for business committed to using Internet advantages, and it might be viewed as a strategic tool which enables e-shops owners to strengthen their market presence, e-sales and customer base through an adequate management of the knowledge regarding online credibility
Tailoring CSR Strategy to Company Size?
Get PDFCorporate Social Responsibility (CSR) is one of the most debated topics in the academic and professional business literature, being analyzed in a myriad of perspectives, from philosophy, to marketing, management practice, managerial strategies or financial impact. The very term of CSR implies that involving with society in a structural way that is part of a business DNA is or should be understood as a characteristic of big size companies (e.g. ‘corporations’). Academic literature and financial reports show a direct relationship between a company size and its CSR budget, therefore some conclusions have been taken that CSR is effective mostly in cases of big budgets and, consequently, of big companies. Academic research also tends to favor large corporations. Most of the literature on CSR is dedicated to large companies. Nevertheless, in the past decade, increasingly more studies have investigated the social responsibility assumed by other types of companies (such as SMEs), by public institutions or by nonprofit organizations. Our present empirical analysis based on structured academic literature review (comprehensive selection of relevant international papers and content analysis) demonstrates that CSR should go beyond the classical understanding of the ‘corporation’ concept and that it should be tailored to SMEs as well. Innovation and top management support are the drivers of effective CSR adoption by SMEs, for positive results meeting specific business model requirements, as well as for society. Going beyond social responsibility as a philosophical duty, correctly tailored CSR strategies can be efficient for small and medium enterprises in meeting strategic business objectives.
Eastern Partnership Integration with the EU and Inclusive Growth of National Economies
Get PDFThe paper aims at analyzing the circumstances and objectives of the regional integration in the context of global development. The EU is one of the most influential and important actors of the global world, which represents one of the most developed examples of the regional integration. During the development, the EU went through the several stages on enlargement. Even nowadays, without having targeted to the reactive new member in foreseen future, the EU continues the process of integration of adjacent regions by setting goals and priorities through different forms such as the European Neighborhood, the Eastern Partnership, Association Agreements, various types of Trade agreements. The Eastern Partnership which represents the EU’s eastern neighborhood consisting by former soviet republics has steadily gone up with integration: 1. Georgia, Moldova, and Ukraine have already signed the Association Agreement (AA) including Deep and Comprehensive Free Trade Areas (DCFTAs) with the EU and now these countries work on further progress in terms of the Implementation of AA/DCFTA; 2. Armenia and Azerbaijan are seeking new framework to up-grade their relationship with the EU, Belarus created EU Belarus Co-ordination Group and acts within the Single Support Framework program for 2017-2020. The evolution of EaP countries’ trade data evidently show the changes and growing dynamics in the region. The obvious increasing tendency of trade volumes predicts for further success in the future after the DC FTAs are enacted fully for some countries and/or other trade facilitation measures are utilized fully for others. A new approach to the economic growth also suggests that benefit from economic growth supports poverty reduction, widely spreads across sectors and affects the majority of the labor force and hence, rise the welfare of the population. In this context, Corporate Social Responsibility (CSR) appears to be a useful tool to achieve this overwhelming goal. In the difficult business climate prevailing in most of the EaP countries, the role of the EU support could include raising awareness on CSR and supporting the implementation of relevant standards in the enterprises that are benefiting from the EU assistance