Ecoforum Journal (University of Suceava, Romania)
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IMPLICATIONS OF INDUSTRY 4.0 AND THE COVID-19 PANDEMIC ON THE PERFORMANCE OF THE ECONOMIC ENTITY IN THE TOURISM SECTOR. A CASE OF A TRAVEL AGENCY FROM SUCEAVA
No full textThis study aims to contribute to the academic landscape by exploring the interconnections between Industry4.0 and performance in the tourism sector, with a focus on the impact of the coronavirus pandemic. Focusing ona specific case represented by a travel agency in the city of Suceava, we have adopted a mixed approach thatintegrates literature analysis, case study, and qualitative and quantitative research methods. Throughout thisresearch, we will use the designation Travel Agency X to ensure anonymity and adhere to ethical standards in thefield of research. Specifically, the investigative process focuses on analyzing how the coronavirus pandemic hasaccelerated the implementation of emerging technologies associated with Industry 4.0 and shaped consumerbehavior. The in-depth case study of Travel Agency X involves direct observations, interviews with agencymanagement, analysis of internal documents, and financial evaluation, thereby providing a holistic picture of theintegration of emerging technologies into the agency's operations. It is essential to underline that this study is notwithout challenges and limitations. The subjectivity of the results may arise from the specific context of theinvestigated agency
RETROSPECTIVE ON MANAGING THE TOURISM CRISIS AND THE HOTEL INDUSTRY DURING THE PANDEMIC PERIOD
No full textResearch on the crisis in tourism and the hotel industry has become a topic of particular importance in the context of the outbreak of the Covid-19 pandemic, as this crisis in the tourism sector, especially in the hotel industry, has affected a number of hotels and tourism businesses that have not recovered from the major impact of this uncertain situation. The pandemic period experienced by hoteliers provided a context for management to demonstrate their adaptability to new situations, but also the challenges associated with resilience, recovery and market value enhancement in such situations. In relation to the topic at hand, we considered it important to invoke the way governments have been able to intervene and support the hospitality industry and tourism activity when, in practice, they have been the areas most impacted in the context and scale with which the pandemic has evolved. Thus, the main objective of the paper is to review the literature on methodological approaches in determining the peculiarities of management specific to the hotel industry in times of crisis and to present the strategies to be followed by hotel managers during crises and disasters
IDENTIFYING IMPEDIMENTS TO PRESERVING OLD HOUSES AND CREATING SUSTAINABLE BUSINESSES IN THE BUKOVINA REGION
No full textIn European countries, the enhancement of the cultural heritage of old rural houses of historical, architectural, economic and social value is an activity that aims firstly to bring the cultural heritage up to date, through restoration and placing it in the circuit of current socio-human values and, secondly, to promote the level of sustainable development of the rural communities. The binomial that guarantees success, both in terms of rural tourism and in terms of enhancing a village way of life, is modern infrastructure and a preserved and restored built heritage. The need for research and discussion related to the preservation of old houses is linked to the need to sustain rural traditional houses by recognising their role and contribution to maintaining harmonious relationships between people and their environmen
A FUNDAMENTAL INSIGHT OVER THE CONSEQUENCES OF ARTIFICIAL INTELLIGENCE ON THE TOURISM INDUSTRY
No full textThe paper aims to analyse the importance of artificial intelligence systems and how they contribute to the development of the tourism industry.In the tourism industry, as in all other industries, Artificial Intelligence (AI) is becoming an increasingly important part of the processes, offering an alternative or, even better, a variant of continuity and co-working in the tourism sector.The goal of this article is to emphasize the contribution that AI brought to the tourism sector and how the integration of multiple technologies has enhanced customer experiences and services in the travel industry. The study also focuses on the anticipated changes and challenges in tourism in the future.The current perspective examines the use and function of AI using examples from the relevant industries as well as related theory. The various technologies that are being utilized and will be employed in the future are highlighted in the current study
THE EFFECTS OF LEGISLATIVE CHANGES ON THE INFORMATIONAL-ACCOUNTING SYSTEM IN EDUCATIONAL INSTITUTIONS IN ROMANIA
No full textJust like in the private environment, accounting information from the public sector in general and from educational institutions in particular, is of interest to a multitude of users, is the basis of decision-making in this sector and is considered important and essential for the smooth running of the activity. Improving the quality of information provided by public accounting was and is a priority for the authorities. Precisely for this reason, in recent years, the accounting of the public sector and implicitly the accounting of educational institutions have been subject to numerous legislative changes, which had as their starting point the International Standards for Public Accounting and accrual accounting. Thus, this research aims to highlight the main international and national regulations with a direct impact on public accounting in educational institutions in Romania, as well as the effects of these legislative changes on the informational-accounting system in educational institutions
THE ROLE OF MNCs IN SUSTAINABLE DEVELOPMENT: A DYNAMIC AND SUSTAINABLE VIEW ON BALANCING PROFITS AND THE PLANET. TOWARDS A MORAL CAPITALISM IN WESTERN WORLD
No full textMNCs play a critical role in addressing the sustainable development issue. The traditional profit-maximizing strategy of MNCs has frequently resulted in sustainability problems. This has had a detrimental effect on long-term economic growth, as well as the environment and society. The article will focus on MNCs\u27 contributions to sustainable growth and how they may achieve a healthy balance between profits and the environment to ensure a dynamic future. The research approach focuses on the development of sustainability and the role of MNCs in sustainable development and uses the research methods like systems analysis, comparative analysis, and interpretation of the findings as outlined in the literature. The article acknowledges that MNCs can both cause and address environmental and social issues. It acknowledges that MNCs must strike a balance between economic, social, and environmental issues in order to achieve a sustainable future in a complex and continuously changing global context. A "triple bottom line" strategy, which evaluates success in terms of the environment and social effect in addition to financial performance, is the manner in which MNCs may accomplish this balance. One of the contemporary manifestations of capitalism is "responsible" or "moral" capitalism. Moral capitalism is also described as the constitutional principle of regulating capitalism in order to protect citizens from corporate predators and to prevent economic exploitation based on one\u27s class or financial condition
THEORETICAL FRAMEWORK FOR THE STUDY ON 6D MODEL (HOFSTEDE) AND GENDER DIVERSITY IN WESTERN COMPANIES: EUROPEAN MNCS VS AMERICAN MNCS VS ASIAN MNCS
No full textThis study aims to assess theoretical framework based international literature and to evaluate what are the real chances for women in European companies vs. American companies vs. Asian companies to reach top executive positions. The study is based on different studies of the European Institute for Gender Equality, the US Bureau of Labor Statistics, Deloitte studies, McKinsey, WEF (World Economic Forum), European Commission reports, etc. The results show attempts/efforts at different levels (international, national and corporate) to improve the structure of the workforce, payment, motivation and attainment of executive positions for women under similar conditions as men in different types of firms and other categories of organisations. At the same time, among other conclusions reached in our study is the fact that in all Western countries (with liberal/democratic systems of political governance), at least in the last 3 decades, there has been a clear and positive trend to support equality as a guiding principle between the two segments of the workforce in the US, Europe and some Asian countries. Our proposed study is both theoretically (as a source for further research) and pragmatically (providing a clear synthesis of the positive implications of gender diversity for the performance of the corporate environment in the coming decades)
CONSIDERATIONS ON THE FINANCIAL, ACCOUNTING AND RELATIONAL IMPACT OF FINTECH PLATFORMS ON ROMANIAN COMPANIES
No full textThe emergence of FinTech has generated a new paradigm of financial culture by proposing innovative models of financial applications and products that have given rise to a new type of business with financial technology at its core. The considerations in this article focus on companies as beneficiaries of FinTech and cover all six business functions proposed by Gomber, Koch and Siering respectively: Digital Financing, Digital Investments, Digital Money, Digital Payment, Digital Insurances and Digital Financial Advice. The stated functions are analysed along three lines: the financial consequences of these approaches at company level, how to recognise the generated flows in company accounting and the implications for supplier-beneficiary communication. The study methods used are the review of international and Romanian literature on the one hand, and of the regulations applied in Romania regarding FinTech, on the other hand, and also, empirical analysis on revealing cases of the phenomenon and questionnaire. As a summary of our conclusions, we can state that the impact of these technologies on Romanian companies is positive. Romanian companies are interested in accessing FinTech technology, but there is a slowdown in the pace of implementation generated both by relatively small investments in this area and insufficient financial education of managers.The emergence of FinTech has generated a new paradigm of financial culture by proposing innovative models of financial applications and products that have given rise to a new type of business with financial technology at its core. The considerations in this article focus on companies as beneficiaries of FinTech and cover all six business functions proposed by Gomber, Koch and Siering respectively: Digital Financing, Digital Investments, Digital Money, Digital Payment, Digital Insurances and Digital Financial Advice. The stated functions are analysed along three lines: the financial consequences of these approaches at company level, how to recognise the generated flows in company accounting and the implications for supplier-beneficiary communication. The study methods used are the review of international and Romanian literature on the one hand, and of the regulations applied in Romania regarding FinTech, on the other hand, and also, empirical analysis on revealing cases of the phenomenon and questionnaire. As a summary of our conclusions, we can state that the impact of these technologies on Romanian companies is positive. Romanian companies are interested in accessing FinTech technology, but there is a slowdown in the pace of implementation generated both by relatively small investments in this area and insufficient financial education of managers
SUSTAINABILITY OF DIGITAL BUSINESS. ADVANTAGES OF ADOPTION OF BUSINESS MODELS BASED ON THE DIGITAL ECONOMY
No full textIn the digital age, technological transformation is associated with organizational performance, economic growth, environmental protection, and social welfare, being an integral part of the business model. Innovation is no longer just an element of the product created by the company, the way we create the product, can represent the created product itself. Large companies in the market for the last 30 years are companies creating digital products. Adopting the latest technologies is imperative for companies for which the main purpose is to remain or become competitive. The widespread implementation of digital solutions will contribute to sustainable development. Regarding the adoption of technology, it is certain that organizations embrace the implementation of digital tools, but the question that arises and which we want to answer through this study concerns the benefits of their use for the environment and society
THE ENTREPRENEURSHIP OSMOSIS IN RELATION TO ECONOMIC GROWTH\u27S CONCEPTUAL FRAMEWORK
No full textInducing the variables that drive economic growth and development is one of the most critical task of the modern economy. Entrepreneurship is seen as the catalyst for economic growth and a motivating factor for decentralization, economic restructuring, and advancement toward a market economy in all of these components of any economy. Entrepreneurs leverage the power of economic opportunities, reshaping the basic economy into a resourceful one in the process by laying a stable platform for economic activities with the ability to generate development opportunities, displaying the nexus between entrepreneurship and economic development. The objectives of this paper is to determine that a comprehensive approach to promoting entrepreneurship is based on two main pillars: strengthening entrepreneurial skills and improving the criteria of the entrepreneurial framework, which also are based on two distinct conceptual frameworks connecting individual actions in the field of macroeconomics. The paper\u27s significant conclusion is that the binal distinctive pillars should be regarded as an interconnected set of policies for the following reasons, using a methodology that engages in critical analysis of the main policy priorities that enhance entrepreneurial environments through the spectrum of the entrepreneurial conceptual method designed by Global Entrepreneurship Monitor: First, entrepreneurs do not react, but rather adjust whether and how they use their expertise and motivating factors to turn business ideas into profitable opportunities, as mandated by the existing framework conditions; and second, individuals and their entrepreneurial behaviours, knowledge and experience, and aspirations can always be metrics of entrepreneurial behavior