Browsing: 2019, Vol. 30, Issue 2, December

Introduction. SMEs are more flexible being supportive of economic growth in local communities. The expansion of SMEs in Romania has various particularities on regional level, being identified different disparities in terms of local units’ distribution and turnover creation. Still, in order for SMEs to be able to survive, various measures need to be taken by governments and support their future expansion, considering the economic, social, cultural and political context.

Aim of the study. The aim of this paper is to analyse the impact of tourism small and medium enterprises (SMEs) on economic development. Even if, SMEs are deficient in terms of skilled labour force, and finance, they have the power to generate value added, backward and forward linkages, entrepreneurship spirit, adaptation to change, with an extreme importance in long-term development and survival on a dynamic market.
Keywords: small and medium enterprises, Romania, regional disparities, economic development, turnover
JEL Classification: L83, Z32

Introduction. The paper aims to analyse the links between various networks and the way they can interact, particularly where networks belong to different stakeholders, involving also State authority. The case analysis argues on the idea that each restructuring process especially where it targets state-controlled institution needs to incorporate measures to install good corporate governance and management efforts toward open communication and transparency, along with effective quantitative risk analysis and compliance management when assessing an offence which may be deemed “criminal” in its European autonomous meaning.

Aim of the study. The methodology used comprised a comparative study and historical and logical research tools but also qualitative research such as interviews with the subject company and benchmarking the result to similar cases. The results of the paper point out the relevance of the rules and principles underlying the restructuring process of a public authority, effects and interaction between institutions and the need for clearer and more transparent legal framework, particularly where sanctions can be combined in a manner with negative impact on offender’s ability to continue to operate.
Keywords: State agency, currency control regulation, confiscation, proportionality
JEL Classification: K34, K38, K42

Introduction. Industry 4.0 is characterized by intelligent manufacturing and implementation of Cyber Physical Systems in production which refers to both the built-in sensors, the microcomputer networks and the direct connection of the machines to the value chain. Today, IoT is only a small part of the global phenomenon that can be called “The Internet of Everything”. The economic growth in our country was one of the highest in the EU since 2010, with an average rate of 3.0 percent during 2010-18. The 2018 GDP per capita is around 65 percent of the EU28 average, up from 25 percent 20 years ago. The IT&C sector is one of the growth engines of the Romanian economy. In the last years, foreign companies have opened development and support centres in Romania. Of the total workforce in Romania, 2.2% work in IT&C, generating 5.9% of GDP. Digitization generates economic growth.

Aim of the study. In this paper we describe the challenges posed by Industry 4.0 and analyse the opportunities and risks in the IT&C industry in Romania based on the information available in the specialized literature.The method used is a descriptive and quantitative one, combined with a SWOT analysis. The goal is to underline the huge possibilities that our IT&C sector has, and how it can impact our national economy given “Industry 4.0”. With a well developed IT&C sector, the cost of digitalisation can be much lower for our country compared to those that do not have such capable specialists in this field. Due to the changes brought by “Industry 4.0”, the Romanian entities need to look also at examples from other countries in the EU.
Keywords: Opportunities and risk, SWOT, IT industry, Industry 4.0
JEL Classification: M12, M14, M54

Introduction. The purpose of this paper is to present the results that can be obtained by implementing the Lean Six Sigma methodology in the health system of our country. The results are also supported by the case study regarding the implementation of Lean Six Sigma techniques in a public hospital with good performances, nationally recognized: The Municipal Emergency Hospital Moinesti. These strategies, which include Lean and Six Sigma methods, aim to implement process improvements through a set of principles and practices that promote greater efficiency and effectiveness, with fewer errors. The main motivation for the thematic research is due to the fact that the Romanian health system has notable deficiencies which, despite the many positive changes in our country in general, in the health system, in particular, the progress is expected. From previous studies in clinics in the US and Europe we have found that there is a methodology that puts patients and their needs first, by reducing and avoiding waste, as well as streamlining and organizing medical services, so that they can meet patients’ expectations.

Aim of the study. The present paper is based on both a secondary research and the actual carrying out of a case study, extended at the experiment level. The results of this paper show that the medical organization has a greater capacity to respond to challenges within the system, the use of resources has been maximized. There has been an increase in the satisfaction of the patients but also of the doctors, with the elimination or reduction of some costs. The application of the Lean Six Sigma concept in healthcare is a new topic and few researches have been carried out in this field, this work can be useful to the entities that carry out their activity in this area of utmost importance, who want to increase their level and quality. the services offered.
Keywords: Management, Lean Six Sigma, Hospital, Health.
JEL Classification: M12, M14, M54

Introduction. As a result of the economic and financial relapses following the international financial crisis started in 2007, the examination of the way in which the bank lending of the non-financial companies at regional level in Romania evolved is relevant on the one hand, by presenting the transformations suffered by the credit conditions, and, on the other hand through its implications on the level of regional development, the absorption of structural and cohesion funds offered by the European Union, access to financing, as and the use of new financing methods.

Aim of the study. The approach by which this research is carried out is based on a qualitative method, and considers the collection, analysis and interpretation of the data from 2015 and 2019 included in the surveys and statistical studies carried out by the specialists of the National Bank of Romania and other Romanian institutions. The results of research underline a sustained correlation between the evolution of bank lending and the other aspects mentioned above, highlighting the importance of access to bank financing at territorial level in order to increase the level of regional development in Romania.
Keywords: bank lending, credit conditions, regional development, European funds absorption
JEL Classification: G21, G32

Introduction. The purpose of this paper is to highlight the influence of mobile payments on the development and consolidation of E-commerce businesses in Romania, as well as the tendencies of using mobile banking and mobile payments applications by consumers in this area. At the same time, the author makes a brief comparison of the mobile payment companies in Romania for 2019, in order to outline the features, advantages and benefits offered by them in the current context of business transformation by digital disruption.

Aim of the study. The research methodology is based on the analysis and interpretation of the data provided by the recent studies conducted by specialized companies in the field of Ecommerce and mobile payments, as well as based on the comparison method used to classify the services offered by the mobile payment companies. The findings of the research show that the impact of the introduction and use of mobile payments in Ecommerce businesses in Romania is a substantial one from the point of view of the increase of sales and profit, also showing an increase in the number of mobile payments companies in the conditions of diversification of their services.
Keywords: mobile payment, E-commerce business, Fin Tech companies, digital disruption
JEL Classification: G21, G23, L81

Introduction. Anywhere in the world and in any market, the firms are facing more and more a major challenge to meet growing customer demand towards addressing specific business or operational needs of their customers. In a globalization era, a firm’s customers are more oriented on how to create value for their own customers and such they are looking for an approach shift from their providers. Nowadays, the customers are expecting from their providers to better understand the value creation process in their organization.

Aim of the study. Through knowledge combination, the provider and the customer are acting like partners in the co-production of a customer solution to solve a specific customer business requirement. The expected approach is for the provider to create value not for the customer but together with the customer. Even though a number of driving forces requires the shift of a firm’s focus towards taking the perspective of the customers of that firm, it is not an easy task for any firm no matter the market it is operating in or the geographical area the firm is covering. But this shift could represent one effective and efficient way for the firm to differentiate in the market and to be rewarded with achieving a competitive advantage to be sustained over a longer period of time.
Keywords: value creation, sustainable competitive advantage, customer solutions.
JEL Classification: L10, D40, M10

Introduction. The global economic crisis changed the competition game in any marketplace. Faced with increasing competition, declining margins or decreasing demand due to crisis, the firms are looking for new ways to compete at global level. Considering Peter Drucker’s argument that the reason the firms exist is to satisfy the customer, they are trying to differentiate themselves by moving their focus from simple stand-alone products and/or services and instead developing customer solutions. They are defined in the extant literature as a combination of goods and services designed to satisfy a customer’s business needs and therefore they are difficult to imitate and thus they have the potential to be used as a source of sustainable competitive advantage. Much more, firms are facing a demand change from their customers as a response to address new business requirements imposed by the economic crisis. But the shift towards developing, selling and implementing customer solutions is not an easy journey. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.

Aim of the study. The firms have to transform many aspects of their business. The question that arises is what are the major challenges firms are facing in creating effective customer solutions to achieve sustainable competitive advantage and how they could address these challenges.
Keywords: customer solutions, competitive advantage, value co-creation
JEL Classification: L10, D40, M10

Strategic management between ideal and reality
When it comes about formulating the organisation vision, mission, goals and strategic objectives or the roles and responsibilities of the management team, we must bear in mind that a thorough analysis of the organisational contexts, of its internal and external environment, as well as of its existing or potential resources is necessary, this involving the identification and use of specific methods and techniques. Too often, managers ignore the huge difference between fiction and reality. We must always relate our decisions to the characteristics of reality and to the sometimes surprising circumstances that the economic environment might generate.