1,720,964 research outputs found
Beyond budgeting: Gaining competitive advantage through strategic changes in budgeting processes
Full text linkProcess and leadership principles are the most important principles in every organization. Implementing or modifying new principles is mostly considered as a strategic change. However, there are some processes that have not been changed. Due to bureaucracy, conservative management and leadership principles, financial processes have been treated as universal without any needs for changing. Budgets have always played a big role in controlling the business performance of organizations. This paper emphasises the importance of making strategic changes in budgeting processes. Recently, budgets as the result of the budgeting process have become a subject of criticism. Budgeting as a concept of controlling has made businesses less flexible, even though nowadays flexibility is one of the most important factors which could determine the success of an organization. In a highly turbulent environment, traditional budgeting started being treated as a non-efficient way of controlling and running a business. This paper will summarize the reasons why companies all over the world start abandoning the concept of traditional budgeting and start implementing a new, more flexible concept, called Beyond Budgeting. Originally, the concept of Beyond Budgeting was implemented by Svenska Handelsbanken - a Swedish bank. This company has made an increase in almost every business process considering the relevant performance indicators. Beyond Budgeting modifies business processes and the need for a certain level of radical changes followed through the implementation of Beyond Budgeting principles. The author will point out which factors are possible limitations in using Beyond Budgeting. On the other hand, the author will show the necessary conditions which need to be fulfilled in order to implement Beyond Budgeting concept and get the benefits of using the business methodology
The effect of intangible asset on financial performance and valuation of web based companies
No full textAdekvatno upravljanje nematerijalnom imovinom je preduslov za uspešno upravljanje
celokupnim poslovanjem. Stoga, poznavanje strukture nematerijalne imovine svake kompanije
predstavlja neophodnost za svaki tip poslovanja. Poslovanje u domenu veba predstavlja jedan
od najbrže rastućih i najizazovnijih industrija, pri čemu se vrednost ovakvih kompanija
najčešće ne zasniva na indikatorima iz finansijskih izveštaja i njenoj materijalnoj imovini, već
na nematerijalnom delu imovine. Sa druge strane, kompleksnost nematerijalne imovine
kompanija koje posluju na vebu često predstavlja izazov, kako za vlasnike i menadžment u
procesu upravljanja, tako i za investitore u procesu procene vrednosti datih kompanija.
Razumevanje relacija između svakog elementa strukture nematerijalne imovine i finansijskih
performansi određene veb kompanije je ključ poslovnog uspeha, i neophodan korak u
celokupnom procesu utvrđivanja vrednosti kompanije.
U radu je predstavljeno istraživanje o relacijama između elemenata strukture nematerijalne
imovine veb kompanija i njihovih finansijskih performansi, a u cilju utvrđivanja uticaja na
vrednost kompanije. Utvrđivanjem veza između pomenutih subjekata, predstavnici privrede,
ali i akademske zajednice će stići uvid u važnost upravljanja nematerijalnom imovinom. Rad
se zasniva na pretpostavci da nematerijalna imovina ima direktan uticaj na indikatore
uspešnosti poslovanja. U radu će takođe biti predstavljeni modeli procene vrednosti
kompanija, sa fokusom na veb industriju, čime se zaokružuje relacija između nematerijalne
imovine i njenih elemenata, finansijskih performansi i vrednosti veb kompanija.The proper management of intangible assets is a precondition for successfully managing the
whole business. Therefore, knowing the structure of the intangible assets of each company is a
necessity in each business area. Web businesses are one of the fastest growing and most
challenging industries, and their value is often not based on indicators from the financial
statements and its material assets, but on the non-material part of the company. On the other
hand, the complexity of the intangible assets of web-based companies often poses a challenge
to both owners and management in the process of managing the company, but investors as well
in the process of assessing the value of these companies. Understanding the relationship
between each element of the structure of the intangible asset and the financial performance of
a particular web company is the key to business success and a necessary step in the overall
process of determining the value of the company.
The paper will emphasise the research on relations between the structural elements of the
intangible assets of the web companies and their financial performances in order to determine
the effect on the company value. By establishing relations between the research elements, the
business representatives, as well as the academic community, will gain insight into the
importance of managing the intangible assets. This paper is based on the assumption that
intangible assets have a direct impact on performance indicators. It will also present models
of company valuation, with a focus on the web industry, which puts together the relationship
between intangible assets and its elements, financial performance indicators and the value of
web companies
The effect of intangible asset on financial performance and valuation of web based companies
Full text linkAdekvatno upravljanje nematerijalnom imovinom je preduslov za uspešno upravljanje
celokupnim poslovanjem. Stoga, poznavanje strukture nematerijalne imovine svake kompanije
predstavlja neophodnost za svaki tip poslovanja. Poslovanje u domenu veba predstavlja jedan
od najbrže rastućih i najizazovnijih industrija, pri čemu se vrednost ovakvih kompanija
najčešće ne zasniva na indikatorima iz finansijskih izveštaja i njenoj materijalnoj imovini, već
na nematerijalnom delu imovine. Sa druge strane, kompleksnost nematerijalne imovine
kompanija koje posluju na vebu često predstavlja izazov, kako za vlasnike i menadžment u
procesu upravljanja, tako i za investitore u procesu procene vrednosti datih kompanija.
Razumevanje relacija između svakog elementa strukture nematerijalne imovine i finansijskih
performansi određene veb kompanije je ključ poslovnog uspeha, i neophodan korak u
celokupnom procesu utvrđivanja vrednosti kompanije.
U radu je predstavljeno istraživanje o relacijama između elemenata strukture nematerijalne
imovine veb kompanija i njihovih finansijskih performansi, a u cilju utvrđivanja uticaja na
vrednost kompanije. Utvrđivanjem veza između pomenutih subjekata, predstavnici privrede,
ali i akademske zajednice će stići uvid u važnost upravljanja nematerijalnom imovinom. Rad
se zasniva na pretpostavci da nematerijalna imovina ima direktan uticaj na indikatore
uspešnosti poslovanja. U radu će takođe biti predstavljeni modeli procene vrednosti
kompanija, sa fokusom na veb industriju, čime se zaokružuje relacija između nematerijalne
imovine i njenih elemenata, finansijskih performansi i vrednosti veb kompanija.The proper management of intangible assets is a precondition for successfully managing the
whole business. Therefore, knowing the structure of the intangible assets of each company is a
necessity in each business area. Web businesses are one of the fastest growing and most
challenging industries, and their value is often not based on indicators from the financial
statements and its material assets, but on the non-material part of the company. On the other
hand, the complexity of the intangible assets of web-based companies often poses a challenge
to both owners and management in the process of managing the company, but investors as well
in the process of assessing the value of these companies. Understanding the relationship
between each element of the structure of the intangible asset and the financial performance of
a particular web company is the key to business success and a necessary step in the overall
process of determining the value of the company.
The paper will emphasise the research on relations between the structural elements of the
intangible assets of the web companies and their financial performances in order to determine
the effect on the company value. By establishing relations between the research elements, the
business representatives, as well as the academic community, will gain insight into the
importance of managing the intangible assets. This paper is based on the assumption that
intangible assets have a direct impact on performance indicators. It will also present models
of company valuation, with a focus on the web industry, which puts together the relationship
between intangible assets and its elements, financial performance indicators and the value of
web companies
Application of the efficiency and profitability models through financial analysis in the function of competitiveness of domestic ICT companies
No full textSkalabilnost poslovanja jedan je od vodećih razloga brzog rasta i popularnosti IT industrije. Tokom 2000-ih godina, Silikonska dolina je postavila temelje tzv. startup kompanija, koje su pretežno poslovale u tehnološkoj industriji, čije je poslovanje raslo eksponencijalno. Danas, potencijal Republike Srbije leži upravo u IT industriji. Slični uslovi poslovanja i globalno tržište pružaju šansu srpskim preduzetnicima da posluju po istim standardima kao i vodeće svetske kompanije. Sa druge strane, efi kasnost je jedan od indikatora koji određuje generalne performanse ove industrije. U ovom radu će biti predstavljeni osnovni indikatori efi kasnosti čiji se model zasniva na fi nansijskoj analizi vodećih srpskih IT kompanija. Budući da veliki broj IT kompanija posluje kao povezano pravno lice sa drugim - najčešće stranim kompanijama, autori se u radu osvrću i na različite računovodstvene standarde, shodno propisima države u kojoj se posluje kao i principima obračuna prihoda, kao preduslovima za dalju analizu. Komparacijom domaćih sa svetskim kompanijama iz Silikonske doline, autor se osvrće na faktor konkurentnosti tehnoloških kompanija u Republici Srbiji.Business scalability is one of the main reasons for the rapid growth and popularity of IT industry. During the 2000s, Silicon Valley has given the foundations of the startup companies, which were predominantly operating in the tech industry, whose business has grown exponentially. Today, the potential of the Republic of Serbia lies precisely in the IT industry. Similar business conditions and the global market have provided the opportunity for Serbian entrepreneurs to operate according to the same conditions as the world’s leading companies. On the other hand, efficiency is one of the indicators that determines the overall performance of this industry. This paper emphasis the basic performance indicators based on the financial analysis of the leading Serbian IT companies. Since a large number of IT companies operate as a related legal entity with another - mostly foreign entity, the authors call for different accounting standards in accordance with the regulations of the state in which the entity operates, as well as the principle of revenue recognition, as a prerequisite for further analysis. By comparing domestic with world’s leading companies from Silicon Valley, the author shows the competitiveness of tech companies in the Republic of Serbia
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Digital advertising management: Efficiency and profitability comparison of Google AdWords and Bing Ads campaigns in the industry of tourism
No full textUpravljanje digitalnim marketinškim kampanjama je poslednjih godina postalo krucijalno kako bi se omogućio rast poslovanja kompanija. U ovom radu je analizirana efikasnost i profitabilnost korišćenja digitalnih marketing kampanja u turističkoj industriji preko Google AdWords i Bing Ads servisa. Google AdWords je danas najveća platforma za oglašavanje putem internet pretraživača, međutim BingAds iako noviji servis, pokazuje veliki potencijal na tržištu oglašavanja. Marketing eksperti koriste različite strategije kako bi privukli prave klijente, uz što niže troškove, pri čemu je neophodno dobro poznavanje ključnih indikatora performansi, kako bi se proverila profitabilnost i efikasnost ovih kampanja. Analizom kampanja će biti prikazana komparacija kampanja po servisima kroz odgovarajuće racije, što je ključno u izradi i upravljanju kampanjama, pogotovu kod malih i srednjih preduzeća.In recent years, managing digital marketing campaigns has become crucial to enable the growth of business. This paper emphasis the efficiency and profitability of digital marketing campaigns in tourism industry through Google AdWords and Bing Ads services. Google AdWords is nowadays the biggest advertising serach engine platform, however, Bing Ads is showing a huge potential on search enginge advertising market. Marketing experts use different strategies to attract the right customers with the lowest costs, and with the necessary knowledge in managing the ratios of profitability and efficiency of these campaigns. The analysis of the campaigns will show the comparison of this two services providers, which is essential in making and managing the campaigns, especially for SME
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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