Browsing: 2015

Introduction. We believe that through this work we were able to bring into discussion only a part of the specific issues related to credit risk management scoring systems and we believe that this work represents a support for future research.

Aim of the study. This paper is a detailed overview from theoretical and practical perspectives of a scoring system used by a financial institution in assessing the credit risk of a corporate client. The objective of this research was to demonstrate the importance of a scoring system for a credit institution when approving a loan application of a potential borrower. The complexity and importance of the topic makes it a subject of high interest for all type of credit institutions.
Keywords: credit risk, scoring, multidimensional model, database, application, corporate clients.
JEL Classification: G2

Introduction.The decisive support of sport in the Czech Republic is achieved from public financial means through municipal budgets. According to studies and statistic data, 4/5 of the total support is provided by municipalities and 1/5 is represented by direct expenses from the state budget, which is primarily aimed on the support of professional sport and national representation. Municipal financial means aim on the broader support of all sport activities of their citizens, including their active recreation.

Aim of the study. The case study proposes a new approach to restructuring of sport financing for a municipality with 24 thousand inhabitants. The methodical approach is based on the analysis of financial flows of institutional and non-institutional sport support, analysis of municipal budget, analysis of current sport infrastructure and current grant policy. By using comparative methods with other cities in the Czech Republic, it was discovered that Litoměřice has above average percentage share for the operating financing of sport (2.9 – 11.3 % of the municipal spending), high ratio of institutional subsidies (72 – 97%) and low but increasing share of non-institutional sport support (3 – 28%). Based on the analysis, there is no need to increase financial means for sport, which could have negative budget impacts in the future. Instead, the proposal focuses on rebalancing the institutional support in favour of demand driven non-institutional support – in particular the use of grant policy with the help of program financing.
Keywords: institutional support, budgetary implications, municipal sport, grants, municipalities.
JEL Classification: D61, D62, H71, H75, I38.

Introduction. The knowledge about methods and techniques of quality management together with their effective use can be definitely regarded as an indication of high organisational culture. Using such methods and techniques in an effective way can be attributed to certain level of maturity, as far as the quality management system in an organisation is concerned.

Aim of the study. There is in the paper an analysis of problem-solving methods and techniques of quality management in the automotive sector in Poland. The survey was given to the general population, which in case of the study consisted of companies operating in Poland that had certified quality management systems against ISO/TS 16949. The results of the conducted survey and the conclusions of the author can show actual and potential OEM suppliers (both 1st and 2nd tier) in which direction their strategies for development and improvement of quality management systems should go in order to be effective. When the universal character of methods and techniques used in the surveyed population of companies is taken into consideration, it can be assumed that the results of the survey are also universal for all organisations realising the TQM strategy. The results of the research confirmed that methods which are also the basis for creating key system documents are the most relevant ones, i.e. flowcharts and FMEA, and moreover process monitoring tools (SPC) and problem solving methods -above all 8D.
Keywords: quality management, quality techniques, automotive industry, FMEA, SPC, 8D, problem solving, quality methods

Introduction. Bioeconomy is currently an area of great and mighty power development. High complexity of this field is to combine the use of technologies that use biological resources in the range of human values involved.

Aim of the study. This study requires that objective SWOT analysis applied in dental esthetics with strict reference to the quality of work in relation to aesthetic and functional effectiveness of the treatment, the life, the method of reconstruction, working technique, the degree of invasiveness of treatment in relation to conservation dental tissues ,execution costs, costs of resources used in dental anterior segment reconstruction and economic analysis of the modalities of treatment techniques reported the need and level of understanding of patients on treatment aesthetic-functional complexity.
Keywords: bio-economy, aesthetic and functional dental tissue, cosmetic dentistry, minimally invasive.

Introduction.The basic function of money is to be exchanged by means of payment depending on the requirements and characteristics of trade. Conducting payments must be made in optimal conditions, thus ensuring fluency and safety of the entire payment process. Currency must react to modern means of payment, being influenced by external economic environment, society, contemporary civilization, conducting more frequent payments through banks and evolving to sign electronic monetary impulse, breaking total real value of the currency of contents constituting challenges and responses of the coin.

Aim of the study. Our research focuses on issues related to the payments sector, the Smartcard, the Electronic Banking, payment systems based on bank cards, the Cyber cash, and the electronic payment systems (1) Net Cash and (2) E-Cash, Micro-payment systems with (1) Millicent and (2) Cyber Coin, as well as the electronic check payments.
Keywords: electronic payment system, payments sector, smartcard, electronic banking, bank cards, cyber cash, net cash, e-cash, micro-payment systems, Millicent, cyber coin, electronic check payments, development, economic and a managerial perspective

Introduction. Electronic commerce or e-commerce is the electronic transaction performed using any computer. Such trade means, specifically, any exchange between a seller and a buyer who visits a web site that is performed after a commercial transaction.

Aim of the study. This paper aims to presents the electronic commerce with its definitions, historical evolution and importance, it’s the main forms, the advantages and disadvantages of e-commerce, the electronic commerce versus traditional commerce as well as the electronic commerce in Romania. In this research we have emphasised the role and the importance of the e-commerce in comparison with the traditional commerce, stressing the fact that it has many advantages that underpin the on-going development and success of this trade: time; the availability of virtual stores: program almost non-stop, every day of the year; the possibility of free decision; the possibility of purchasing products even outside the borders of the country the buyer; communication, particularly internationally, low cost, the relations with suppliers and customers and its importance for small businesses using e-commerce which can compete with large companies.
Keywords: electronic commerce, traditional commerce, development, supply chain management, customer relationship, economic and a managerial perspective, Romania’s experience.

Introduction. Competent and proficient leadership are required from those who will be dedicated to establish, install and administer this strategy. Leaders are required to set an Example and should wish to become Role Models. Since they are very crucial and essential for moving people leaders should permanently improve and expand their personal communicating talent and their ability to inspire other people.

Aim of the study. The article defines and describes what are Strategy and leadership. It further explains that since the World configuration is uncertain and it changes even during these days, a new socio-economic strategy is required. The failure of both the traditional ideologies, Socialism and Capitalism, to provide a satisfactory prognosis induces, the Author to offer his Social-capitalism concept. The given prognosis combines the positive features of each of the two older views and offers a strategy working on a balanced and comprehensive mode of operation.
Keywords: strategy, comprehensive & integrative approach, balanced & complementary concept, inspiring & competent leadership

Introduction. In the last decades, once with structural changes in production, organizations, technology and social environment a radical change in the economy has been underlined that substitutes the traditional economy based on industry-led services characterized by innovation and knowledge creation. At the same time, emerging economies have managed to win the battle with the world’s major competitors, even overtaking several of them. A representative example is the two countries: China and Japan, that in present are the top three economies in the world.
The human capital and – particularly the investment in education – determine the ability of individuals to earn as well as his perspectives of employment. Since most of the knowledge and skills are acquired in school, through the educational process, education has been recognized as the decisive part in the accumulation and development of the human capital and therefore in the economic development of a country.

Aim of the study. The aim of this paper is to highlight the characteristics of human capital in China and Japan (in terms of investment) and its benefits.
Keywords: human capital, education, competitiveness, investment, skills
JEL Classification: J24, O15

Introduction. It should be noted that this paper focuses on formal education as a mean of human capital accumulation. In the scientific literature there are studies recognized on both specialists and institutions level according to which education is the principal source of economic growth. The role of education consists in transmitting skills and aptitudes towards flexibility. This marks the entry in the new economy or knowledge society, in which competitiveness depends on skills and human capital possessed. Moreover, education is important not only for future productive capacity building but also for improving living standards. A better educated person will have more chances to get a better paying job and have more freedom to choose and decide what is best for his state of wealth. That person will also have the financial resources to take care of his health and access superior products and services.

Aim of the study. The purpose of the paper is to analyze the graduates’ insertion in the labor market in the context of the new economic changes and to reveal the relationship between education and their employability. This paper will focus attention on the role of formal higher education; particularly in Business and Administration graduates. The study will be based on a survey achieved through a qualitative research by the implementation of a questionnaire among a representative segment of graduates.
Keywords: education, human capital, insertion, labor market
JEL Classification: A2, J24, O15

Introduction. Falsified medicines are fake medicines that pass themselves off as real, authorized medicines. Falsified medicines might contain ingredients, including active ingredients, which are of bad quality or in the wrong dose – either too high or too low. As they have not been properly evaluated to check their quality, safety and efficacy – as required by strict EU authorization procedures – this could be detrimental to your health.

Aim of the study. This paper aims to highlight Falsified medicines (the term ‘falsified’ is used to distinguish the issue from IP violations, so-called ‘counterfeits’) are a major threat to public health and safety. As falsifications become more sophisticated, the risk that falsified medicines reach patients in the EU increases every year. Falsified medicines represent a serious threat to global health and call for a comprehensive strategy both at European and international level.
Keywords: Falsified medicines, health, safety, European Union, international level