Annals of Spiru Haret University
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Beyond Compliance: Harnessing the Power of Internal Public Audits for Sustainability Management Excellence
Full text linkIn today's rapidly evolving business landscape, sustainability has emerged as a critical imperative for organizations worldwide. Beyond mere regulatory compliance, sustainability encompasses a holistic approach to environmental, social, and governance (ESG) considerations, aiming for long-term viability and societal impact. Central to this paradigm shift is the role of internal public audits, traditionally viewed as tools for compliance assurance. However, this article argues for a broader reimagining of internal public audits as potent instruments for achieving sustainability management excellence.
Drawing upon literature on sustainability, audit practices, and organizational behavior, this article examines the transformative potential of internal public audits in advancing sustainability objectives. It explores how organizations can leverage internal public audits to not only identify compliance gaps but also proactively address sustainability challenges and capitalize on opportunities for innovation and improvement. Key strategies for integrating sustainability considerations into audit processes are discussed, including the incorporation of ESG metrics, stakeholder engagement, and the cultivation of a culture of sustainability within the organization.
Furthermore, this article highlights case studies and best practices from leading organizations that have successfully integrated sustainability into their internal public audit frameworks. These examples illustrate the tangible benefits of aligning audit practices with sustainability goals, such as enhanced risk management, improved stakeholder trust, and competitive advantage in the marketplace.
By reframing internal public audits as strategic enablers of sustainability management excellence, organizations can unlock new avenues for value creation while fulfilling their broader societal responsibilities.
This article provides practical insights and recommendations for organizations seeking to harness the full potential of internal public audits in driving sustainable business practices and achieving long-term success in a rapidly changing world
THE EFFECT OF GOVERNANCE ON GROWTH OF SHADOW ECONOMY IN WEST AFRICA.
No full textEngagement in shadow economy activities double as a survival strategy against distortional government interventions resulting in unfavourable socioeconomic conditions and as an impediment to socioeconomic development in developing economies. This study provides scientific evidence of the aspects of governance which minimize the size of the shadow economies of 15 West African countries from 1996 to 2019 using panel autoregressive distributed lag model (pooled mean group estimator). Shadow economy (% of GDP) was used as the dependent variable while control of corruption; government effectiveness; voice and accountability; regulatory quality, rule of law and political stability were the used as measures of governance. The result revealed significant long run effect of all the measures of governance (except government effectiveness) on the growth of shadow economy in West Africa. However, only control of corruption and rule of law were found to have significant negative effect on the size of shadow economy in West Africa. The study concluded that sincere and non-selective anti-corruption mechanism, strict adherence to the rule of law and reduction of bureaucracy are important for contraction of shadow economy.
Open Access to Information Sources, Sustainable Scientific Development
Full text linkThis paper aims to treat the sensitive subject of open access to academic information sources, from the perspective of the concept of sustainable development. In this sense, the paper will briefly present some points of view regarding open access to academic information sources, definitions of open access and what free source or open source means. Defining the objectives of sustainable development as well as the role of universities in the context of the current world is essential in order to form the correct opinion among the beneficiaries of academic information sources. The objectives of Angeda 2030 for sustainable development and their application to the academic world will be defined and solutions will be proposed for general access to academic information, without costs or risks of intellectual property infringement. We all know that in creating a research content, the main challenge is to document yourself, without the risk of violating intellectual property and its principles. Last but not least, the work will also offer some recommendations regarding the methods of verifying the veracity of the sources as well as the authenticity of the information
NEW PRODUCT DEVELOPMENT (NPD) IN GLOBALIZED MARKET
No full textIn the introduction of the paper has been clarified the meaning and content of the term new product development, then analyzed the relationship between globalization and product development, and how one influences the other. Furthermore, was analyzed the importance of the steps of the product development process, without which a company cannot develop new products successfully and efficiently. Example of Nestlé corporation was described in details. Important key concepts and the process of product development were explained and finally was described the way Nestlé develops its products
Utilizing Bank Loans to Enhance the Energy Efficiency of Enterprises in the Western Balkan Countries
No full textThe improvement of energy efficiency and transitioning to renewable energy sources in conditions of intense efforts to reduce global warming has become a need. Numerous programs were adopted for financing these activities by international financial institutions and development organizations, whereby a significant part of these programs are implemented by banks. This paper analyses bank loans that have been approved within the Western Balkans Investment Framework (WBIF) program to evaluate their contribution to the realization of the energy performance of enterprises in the Western Balkans countries. By applying content analysis, case study, and comparative methods on the analysed enterprises, it was determined that the mentioned programs were implemented in the Republic of Serbia, North Macedonia and Bosnia and Herzegovina. These programs and credit lines contributed to increasing the energy efficiency of enterprises in the analysed countries. Considering the dominant role of banks in the financial sectors of the Western Balkans countries, banks should take on the role of project creditors oriented towards the improvement of energy efficiency in the future, especially when crediting SMEs. In order to be able to support as many of these projects as possible, banks need to strengthen their institutional and personnel capacities
VALUE CHAIN AND RISK MANAGEMENT IN THE 4IR: ANALYSIS FROM THE AGRO-ALLIED SECTOR
No full textScholars and professionals have recently called for the need to look at how value chains affect risk management in the agro-allied industry. Therefore, in response to this call for empiricism, the present study is conducted. In achieving this, the descriptive survey method was applied, inculcating Five (5) randomly selected Agro-allied firms in Enugu State, Nigeria as its study respondents. They include - Enugu San Carlos Farms Limited; Link-Chris Global & Agro Resource Nigeria Limited; Veggie-fresh Farms Enterprise; San Savannah Oil Limited; and Tropical Veterinary Consult Limited. The criteria in selecting the firms were on the basis which included their economic contributions to the state, number of years in service delivery, and product/produce viability. These criteria permit a valid generalization of the research findings. The Regression statistical tools of the statistical package for social sciences used in testing the hypotheses yielded the following results: r = 0.767; F = 62.720; t = 7.920; p = 0.05. These show that the agro-allied enterprises under study had more effective and substantial risk management as a result of the value chain network that was put in place. Thus the conclusion emphasizes that the value chain promotes and supports the risk management of agro-allied businesses as well as the region in which they operate economically
DIGITAL RESILIENCE IS THE NEW NORMAL OF HIGHER EDUCATION: STUDENT AND TEACHER PERCEPTIONS FROM ROMANIA
Full text linkThis paper aims to emphasize the fact that digital technologies in higher education are a necessity, both teachers and students must develop their ability to adapt and deal with informational technology challenges. Data collection was carried out through the administration of two online questionnaires, addressed both to students and teachers from the Faculty of Law and Economics, Spiru Haret University, in December 2021. The students shared their personal experience regarding distance learning in relation to the classical system (in classroom). Second questionnaire measures the frequency of teaching-learning methods, the ways of organizing the teaching materials existing in the eLearning platform, the media resources, evaluation methods used in teaching activities at distance and perceptions regarding some issues related with eLearning implementation. Based on the results, the authors highlighted that the online education process cannot be achieved through a simple translation of the didactic activity from the classroom to the virtual environment. The preparation of didactic materials for eLearning system requires more time and digital skills and special protection of intellectual property rights. The sanitary crisis accelerated the digitization of education, so that students are already aware of the advantages of E-Learning, but some disadvantages of this system can only be combated through blended learning
Globalisation and current employment situation in South Africa: An exploratory enquiry
Full text linkGlobalisation is a broad concept that has continuously impacted various aspects of human endeavours. Globalisation has influenced the realignment of business strategies as well as impacted the availability of jobs in many countries. In modern organisations, managers must understand how current globalisation impacts employment situations. Since the dawn of contemporary globalisation in the early 1990s, several path breaking advances have emerged. These advances have also impacted the ways works are coordinated in the workplace. For instance, recently the use of independent contractors has increased as opposed to permanent appointed employees. As a matter of fact, globalisation has impacted employment situations in several ways. Hence, the current paper is an attempt to explore how globalisation has impacted employment situations in South Africa. The main finding of the paper revealed that there is a rising trend in job insecurity in most organisations owing to advanced sophisticated technologies and the utilisation of more atypical employment pattern in the form of casualisation.  
SUSTAINABLE FINANCE – A WAY TO IMPROVE SOCIAL AND ECONOMIC SUSTAINABILITY. THE ROMANIAN EXPERIENCE
Full text linkSustainable finance is a concept that refers not only to environmental problems, but also to social objectives such as those social goals included in the 2030 Agenda for Sustainable Development. Summarizing, it refers to societal impact. In literature, this term - societal impact – is used with the meaning of social, environmental, medical or cultural impact [Rizzi F. et al., 2018; EVPA Report, 2017].
The current challenges regarding the future development of the social finance market refer to the opacity of its conceptual bases. For this reason, this article aims, among other things, to clarify the basic concepts and instruments of social finance and their continuously developing market, analyzing the literature in the field. Thus, first of all, we analyze the structuration processes that take place in social finance and the institutional actors involved. Also, a conceptual delimitation of social investments and the way in which they are selected is necessary.
Last but not least, reviewing the literature, this article addresses to the analysis of the financial instruments (FI) used on the social finance market and their impact, also addressing the issue of the usefulness of tailored finance of a social purpose organization.
Regarding the experience on the social finance market in Romania, this article aims a static and dynamic analysis of the financial instruments used, as well as of the entities in the Romanian social economy, proposing solutions to improve public policies in terms of sustainable finance and social economy from our country
Systems Thinking in Workplace Health and Safety: A theory and Practice Nexus
Full text linkThis paper undertakes a conceptual overview of system thinking in workplace safety and health with the intent of bridging the gap between theory and practice. It is based on the premise that there has been so much discussed in theory with very little to practice, that is making the modern workplace more hazardous and challenging. This study relied on existing literature and based on the frame an emerging economy perspective was articulated and discussed. The paper draws from a narrative qualitative approach design. The study concludes that there is more to be done in practice when it comes to workplace health and safety. The reality that modern workplaces evolve from a system view thus demands a holistic approach to viewing workplace safety and health, as it remains foundational to employee retention and effective contribution to the survival of the workplace.