Browsing: 2015, Vol. 22, Issue 2, December

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

Introduction. Tax healthcare fraud and tax evasion affects us all. It occurs within a country and across countries both within the EU, USA and globally. That is why a single country cannot solve the problem on its own. The EU and Member States need to work more together and internationally to combat the problem at home and abroad.

Aim of the study. This paper aims to highlight that open dialogue involving the European Commission, stakeholders and interested parties helps ensure that existing rules and proposals for new rules are designed to keep pace with the reality of rapid change. This dialogue helps to achieve the regulatory efficiency we need to foster best administrative and legislative practice tailored to meet the needs of business in the European Union in the third millennium.
Keywords: Tax fraud, tax evasion, healthcare, white-collar crime, examples

Introduction. In the years after the global financial crisis, central banks have undergone to a tremendous pressure from financial markets, from the real economy, but also from the population and politicians. Each part is interrelated with each other, but is in different positions in terms of the influence exerted on the other, in terms of the means and instruments through which their interest must prevail against the other parties. In this context, the leadership of a central bank is the key to the proper functioning of a central bank and also to its effectiveness and efficiency.

Aim of the study. Based on the central bank functions and on some important principles of decision and action, such as independence, transparency and accountability, the leaders of the central banks should provide guidance for the national economy in turbulent times. As a result, the main focus must be concentrate on aspects like: monitoring policy performance, monitoring efficiency of resources, setting functional goals, managing capital adequacy, balance sheet and liquidity, awareness of external perceptions and reputational risks, ensuring good institutional governance.

Keywords: central bank functions, policy formulation and decisions, effectiveness and efficiency of institutional governance, anticipating and avert new challenges, accountability and transparency
JEL Classification: E50, E52, G20, G28

Introduction. New business models no longer rely on expectations of increased consumption, but rewarding the saving of resources and penalizing the waste of them. Businesses based on stable cash-flows rather than speculative businesses are the ones that survive in times of crisis. The current economic environment is characterized by several features, namely: consumers are more careful with spending and seek substitutes for expensive products; economic downturn trend creates the need for new products and services such as adult education or corporate data security; consumers are looking for and choose products that provide the best value for the money spent on them.

Aim of the study. Economic and financial failure of many Romanian companies has been highlighted in recent years by the evolution of their insolvency, as emphasized the research leads by Coface Romania: the coverage of deteriorating equity was made by attracting additional debt; attracting capital was made especially over short terms with the suppliers credit; more than half of long-term investments were unprofitable; constant increase of the average day’s sales in receivables showed an inadequate policy of commercial risk. In this context, it is important to reveal how leadership styles applied in Romanian companies has led to the development and worsening of their financial problems. The main issues relate to selective rotation pay providers according to the volume of transactions, business relations history, future interests or, simply, bargaining power and importance of each supplier.
Keywords: leadership styles, leader’s personality, aims of the leader, relations with followers, leader’s behaviour, organizational culture
JEL Classification: G30, G32, G35

Introduction. It is extremely important that in the case of supplying public services of general economic interest, the institutions should understand the consumers’ desires and should make sure that supplying these services in the limits considered to be normal improves the consumers’ perception. The importance of services’ quality satisfies or not the citizen, satisfaction which is based on the identification and classification of attributes that help to a better understanding of perception, which will lead to the increase of users’ satisfaction.

Aim of the study. This paper emphasizes a study on the relevance of the basic attributes, according to consumers, of public services supply in Focșani, using the results of practical – theoretical research done with Serqual model.
Keywords: Serqual model, the public services, the consumer perceptions, the citizen satisfaction
JEL Classification: D12, L32,L95, P46