Editura Fundatia Romania de Maine
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Business Education in France and UK - A Look to the Future
No full textBusiness Education in France and UK - A Look to the Futur
Working Capital Management in Czech SMEs: An Econometric Approach
Get PDFIn this paper we investigate the relationship of working capital management and corporate profitability on a sample of Czech small and medium firms. Capital structure and working capital management are two areas widely investigated by economic researchers in order to investigate forces determining profitability of firms. We use an initial sample of 3045 Czech SMEs for the period of 2009-2012 and we employ the panel data methodology to find whether there is the statically significant relationship between profitability and components of working capital – mainly inventories, receivables and payables and other variables based on the previous literature
Marketing Orientation and the Implementation of CRM Systems in the Hotel Sector
No full textCustomer relationship management (CRM) systems are considered vital for companies' performance in today's competitive market environment. In general, past research indicates that information technology increases organizational performance. However, it is still not well documented whether a marketing orientation to the implementation of CRM systems offers further benefits to the companies adopting such systems. The present study examines the implementation of CRM systems in the Greek hotel market. A significant body of the literature suggests that the hotel industry can substantially gain from the adoption of information systems. Yet, little is known about the extent to which CRM systems are used in the hotel industry; and most importantly whether hotels adopt a marketing approach to their implementation. In particular, the present study examines: a. the extent to which CRM systems are adopted by hotels, b. managers' orientation towards a customer-centric philosophy and their attitudes and policies towards customers' satisfaction and complaints, and c. the implementation of brand loyalty strategies. The present paper analyses and presents the findings of an exploratory study, conducted in the area of Thessaloniki, Greece. Our main findings indicate that although hotel managers overall embrace a CRM philosophy, only a relative small percentage of them have installed a type of CRM software. When such a system exists, the majority of the hotels keep customer-related data. In the absence of a CRM system, only a minority of the hotels recorded customer-related data in a non-electronic form. It is encouraging, however, that half of the hotels employ moderate to very intensive brand loyalty strategie
From the Eco-Bio-Economy to the Health of the Whole Living Entity
Get PDFFrom the Eco-Bio-Economy to the Health of the Whole Living Entity Raluca ZORZOLIU1,2, Vasile Miltiade STANCIU3,4 [1]“SpiruHaret” University, Faculty of Marketing and International Economic Affairs, 46 G Fabricii Str., District 6 Bucharest, Romania Tel: +4021316979, Fax: +4021316979, Email: [email protected] [2] Romanian Academy, post-doctoral student 3 Post doctoral student at The Institute of World Economy, Romanian Academy 4 “SpiruHaret” University, Faculty of Marketing and International Economic Affairs, 46 G Fabricii Str., District 6 Bucharest, Romania Tel: +40213169793, Fax: +4021316979, Email: [email protected] Abstract: The current global crisis has affected the natural environment and man-made environment. It was caused by humans in their race for competition with no limits and responsibility towards the future, both for them and Earth. Economic life in the virtue of the dominant paradigm that exist in economics so far has been under the influence of some mechanisms influenced by individualism and selfish self-centred, markets without morality, greed, freedom without responsibility so, like these were not the result of human behaviour, but something beyond. The continuation and perpetuation of these behaviours will mark irremediably and irreparably our future, as well as the one of the next generations. We think it is time for humanity to move on, to a different model of understanding and interpretation of socio-economic reality at a planetary scale. In this sense, our paper proposes two models, one is "the eco-bio-economy" and another one is "the health of the whole living entity". These are, in our opinion, the twin models that can provide questions, answers and solutions for our common future, in witch we must coexist in harmony both with ourselves and others and with the environment. Keywords: sustainable development, human development, the health of the whole living entity, harmony, respiritualization JEL classification: A13, O13, O15, R1
The Impact of Forest Degradation on Rural Communities in Romania
Get PDFThe evolution of human society was often based on the use of naturalresources. The forest-man communion in Romania represented more than a mere cover of the basic material needs. The Romanian was always “brotherof the forest” and knew how to appreciate along the centuries the multiplequalities of the woods. As the most important part of the forest fund, the Romanianwoods are strongly affected by anthropic activities. Much more than the necessaryactivities for maintenance and regeneration, there is now the massive economicexploitation of the forest exceeding the threshold ofresponsibility and the environmental limits. The degradation of theforest fund involves higher risks of flooding, landslides, ecosystem andlandscape degradation, and in the end the total disappearance of the basic localresources. This paper pays a higher attention to floods that repeatedly affectedthe rural communities in the last decade. This type of hazard is directlydetermined by excessive logging. Flood risk management should be based onresponsible forest management limiting the deforestation at the level of ecosystem’sability to regenerate. The paper analyses the perception of rural communitymembers on forest issues. The conclusions underline the impact of the legislationand the sectoral policies on the present situation of the forests in Romania
Publicity, Advertising and Spirituality
Get PDFAdvertising industry is more and more often associated to brilliant minds in areas such as: psychology, sociology, anthropology, who turned a job into a full time task of “penetrating the collective public mind, (...) its manipulation, exploitation and control”. That is why, ever since its beginnings, the advertising industry was admonished by social critics for taking materialism to the highest levels; to replace inner happiness and intrinsic motivation with the wish to be productive in society only to the extent of consuming and buying happiness. Therefore, over time, advertising and publicity have raised pros and cons; while some voices describe advertising as a motor of society, driving economic development, there are others that strongly criticise advertising creations, blaming it of manipulation. Conversely, reality proves that a number of other factors exercise a major influence on the customers: experience, price, traditions, age, fashion, religion, etc thus, the fight between advertising pros and cons has led to the emergence of theories regarding its efficiency. Controversy related to the relationship between the rational and the emotional is still ongoing, the more so as the conventional alternative states that we should not let ourselves be affected by emotion when we make decisions, also, religious doctrines state that the mind and the body are two separate entities
Determinants of Bank Profitability in Turkey : An Empirical Analysis on Types of Banking from 2002 to 2012
Get PDFIn this study, we investigate the determinants of banking profitability related to their financial statements. A profitable banking sector is better able effect to stability of the financial system. The profitability of a financial institution is affected by a lot of factors. These factors include elements internal to each financial institution and several important external forces shaping earnings performance. In this study we analyses effects from financial statements to their profitability of each types of banks. With this current emphasis on financial statements are very important to both managing future and making new decision to guide. In Turkey, during from 2002 to 2012 period, bank’s profitability approaches has been changed to new phenomenon. Because of regulative decisions and competitive market has to change profitability of banking sectors. It is therefore important to understand the determinants of banking sector profitability in Turkey between all types of banks. This is essentially important in the light of the above notable changes that have occurred in the operating environment of banks in Turkey. An overview of previous studies indicates various ways that profitability was examined. Some studies were country specific and few of them considered panel of countries reviewing the determinants of profitability. In this study we examines types of banks as follows: 3 banks in state-owned banks, 12 banks in Private banks, 6 banks in foreign banks which has a branches in Turkey. In total 21 banks and 3 types analyses with cross-sectional panel data method during the from 2002 to 2012 period
The Portrait of Child Labour In Turkey
Get PDFAbstract For the fact that children represent a country’s future, studying on the issue of child labor in Turkey is necessary. In the study the portrait of child poverty in Turkey is drawn, the legislation on child labor in Turkey is explained and the statistics on child labor in Turkey is evaluated. The fact that Turkey accepting international standards on child labor does not have a favorable rate in child labor, seems very interesting. For this reason this study has a great signifance.
Agglomeration and economic growth. A New Economic Geography approach for Romania’s counties
Get PDFIn the last 25 years and especially in the last 10 years Romania registered an important economic growth rate. Nevertheless, the level of economic development is not the same across the country and, as many other states, Romania has a heterogeneous territory with different economic, social and geographical characteristics and therefore with great disparities among regions and among counties. In this respect, build on the New Economic Geography approach, this paper aims to explain the inequalities starting from the location, distribution and spatial organization of economic activities. Based on the endogenous growth theory and using panel data models in order to determine the role of both agglomeration economies and positive externalities on regional development, our research focuses on Romania’s 41 counties plus Bucharest, analysing data from 2005 to 2012. The results show a certain positive impact for foreign direct investments, research and development, innovation, education and market potential. However, all this factors are statistically significant only in the long run, given the fact that in the short run it is very difficult to observe and measure their impact on economic growth. By the same vein, even if a different result was expected, in some models, public infrastructure and employment rate seem to have a negative role on regional development in Romania
Socio-economic characteristics of the elderly population in Romania
Get PDFEurope is currently facing the highestageing rate worldwide. Romania,a EU-member country since 2007 has to cope with its own demographicdifficulties, e.g. an overall population decline, an increased proportion ofelderly and a longer average life-span, a majority of female elderly, etc. Theageing process had a progressive course, which began in the latter half of the20th century, particularly in the countryside, where certainsettlements appeared to be at greater demographic risk. The situation had alsosignificant socio-economic implications. In 2012, people aged 60 and overrepresented 22% of Romania’s population, with 25.5% living in the village and 19%in town. According to forecasts, the nest few decades will witness a rapid andmassive growth of elderly people, from 4.5 million in 2012 to 6.5 million in2050. As the elderly category, mostly retired and inactive, puts greaterpressure on the active adults, social and economic problems become ever moreacute, given that the existing pensions system cannot adequately sustain theolder population; besides, neither is the health-care system ready to meet theincreasing demands of this ever larger category. It follows that Romania shouldtake the necessary steps now and start adjusting to these issues in order toavoid the risk of endemic poverty among elderly people. In view of it, acoherent medium-and-long-term development programme should be elaborated,capable to rebalance the demographic structure and solve many of the problemsassociated to ageing.The present study takes an in-depthlook at all these issues and highlights regional disparities