Globalization increases the complexity of supply chain and companies are faced with competitive pressure and environmental uncertainties as well as increasing customer demand (Thomas & Esper, 2010). To satisfy the fluctuating customer demand and to make various players in a supply chain align with customer requirement, collaboration between the players based on the timely communication is required. Moreover, sharing important
information such as customer demand and on-hand inventory level with other players is required to coordinate the players’ activities. With respect to the inventory management, various collaborative policies such as QR (Quick Response), ECR (Efficient Customer Response), VMI (Vendor Managed Inventory) and CPFR (Collaborative Planning, Forecasting and Replenishment) have been developed so as to overcome the limitation of standalone inventory management policies. These collaborative inventory management policies are based on the sharing of customer demand information between players in the supply chain.
Oksana Koval, Stephen Nabareseh, Felicita Chromjaková
The service organizations develop complex service offerings and procedures to cater to the changing customers’ requirements. The increased complexity of the service processes halts effectiveness of the operations and may lead to the lower firm competitiveness over time (Schäfermeyer, Rosenkranz, & Holten, 2012). The complexity of service operations induces long waiting times for customers and high non-value added costs for the companies (George, 2003), and the diversity of the service offerings challenges effectiveness of the processes (Carlborg, Kindström, & Kowalkowski, 2013; Silvestro & Lustrato, 2015). Due to the direct customer participation in the service production, customer has power to significantly impact and distort service operations (Zomerdijk & de Vries, 2007). Thus, to tackle the issue of redundancy and improve performance, companies make determined efforts to standardize their operations.
Muhammad Suhaib Manzoor, Ramiz ur Rehman, Muhammad Islam Usman, Muhammad Ishfaq Ahmad
CSR (corporate social responsibility) disclosure evolved as a result of corporate reporting in response to changes in conditions in which companies operate. Gray, Owen and Adams (1996) describe CSR disclosure/reporting as
„the process of communicating the social and environmental effects of the economic actions of organizations to particular interest groups within society and society at large“. Elkington (1997) states that the terms CSR reporting, Social Reporting, Corporate Citizenship, Sustainability Reporting and Triple Bottom Line Reporting have been employed in the studies interchangeably. To meet 21st century corporate challenges, the corporate reporting system has changed somehow with an inclusion of non-financial disclosure. Krasodomska and Cho (2017) explain the extent of non-financial reporting presented by the corporation regarding activities such as human resources, risk management, product innovation and quality, and impact of corporate decisions on environment and society.
The concept of space is frequently used as a sort of metaphor, with the aim of referring to a colloquial, intuitive interpretation of space as a kind of location, area, field or scene where events take place. Recognisable research problems stem from the conviction that there is a lack of complex conceptualisation of space as a subject in interdisciplinary perspectives for organisation and management sciences. At the same time, a greater interest in issues of space has arisen in recent years, which have been associated with the increasing importance of globalisation, the network economy, and knowledge in organisations (Taylor & Spicer, 2007). Thus, understanding complex interdisciplinary research in this area is the main motivation of this paper. On an epistemological level, the aim of the paper is to conceptualise space in its different dimensions in relation to
the classical achievements of organisation and management sciences.
Nemanja Lekić, Jelena Vapa-Tankosić, Jasmina Rajaković-Mijailović, Snežana Lekić
Job satisfaction is one of the most researched of employee attitudes (Alotaibi, 2001; Parnell & Crandall, 2003), and is considered to be essential for job performance. On the one hand, job satisfaction may have a direct influence on employees, leading them to identify their individual goals with those of their organization, and on the other, it can lead to more efficient realization of established organizational goals. There are numerous reasons for companies to regularly conduct job satisfaction surveys: getting to know the current level of job satisfaction, better management of employee expectations, building an effective business culture or finding new ways to improve business results, and attract quality candidates. The results of such surveys may be used to increase their commitment to the organization. A positive climate among the employees encourages innovation, strengthens initiatives and enables successful execution of tasks. This means that each organization needs to
build a sense of belonging and respect among all employees.
Nowadays, technological progress creates a good opportunity for companies to develop and launch products that incorporate advanced technologies. This process is particularly present in the case of high-tech companies as they are technology oriented (Im, Vorhies, Kim, & Heiman, 2016). Firms utilize advanced technology to improve the functionality of their products and in this way they try to satisfy the customers’ needs to a large extent (Kocak, Carsrud, & Oflazoglu, 2017) and, as a consequence, to enhance the new products and the firm’s performance (Chen, Tang, Jin, Xie, & Li, 2014; Zhou, Yim, & Tse, 2005). This seems to be a straightforward way for companies to create new products. However, several uncertainties emerge when developing technologically advanced products. Nearly thirty years ago Bonnet (1986) pointed out that the uncertainty associated with developing and marketing new technologically advanced products is twofold.
Sorin Gabriel Anton, Anca Elena Afloarei Nucu
In the context of imperfect markets, corporate liquidity represents an important asset to finance investments without raising costly external resources, which imply transaction and information costs. Moreover, the cash holdings offer a buffer against financial distress costs when the firm faces frictions in generating operating cash flows, both in volume and timely. On the other hand, the increase in cash holdings implies several costs: a liquidity premium, tax disadvantages, and agency costs for shareholders (Chang, Benson, & Faff, 2017). The trade-off theory streamlined in the literature governs the firms which need to balance costs and benefits of holding cash to determine the optimal level. While a lot of studies have been done in the direction of identifying the determinants of corporate cash holdings, going further, it is important to understand the relationship between non-earning assets (cash holdings) and firm value, in order to evaluate the corporate financial policies and to attain the right equilibrium between liquidity and profitability.
Dana Benčiková, Denisa Malá, Jaroslav Ďaďo
The contemporary business world is so highly globalized that it would be wrong to assume that an enterprise which wants to succeed in international competition, may exist and fully function without any international trade
or relations. Intercultural competences of the employees are thus becoming increasingly important. One may think that when dealing with the enterprise’s stakeholders, professional knowledge and technical skills are sufficient in order to maintain the corporate processes running smoothly. However, considering the fact that for different reasons, e.g. work migration, or work exchanges, the working environment is growing to be highly diverse and intercultural, the importance of being interculturally competent is clearly relevant at all hierarchy levels, and in relation to both external and internal stakeholders.
Ivan Soukal, Jan Draessler
Payment account (PA, in plural PAs), as the most common type of the sight deposit, represents a financial product with the highest market penetration in the European Union (EU). The Czech Republic is not an exception. Finclusion study (The World Bank, 2018) showed that PA account penetration is as high as 81% of all citizens over age 15 in the Czech Republic. EU survey declared the penetration higher by two percent points concerning the population over age 15 in the Czech Republic (TNS opinion & social, 2016). In spite of a minor
methodology difference, such as the inclusion of any financial institution or mobile-moneyservice provider account, it is evident that most of the population possess one or more PAs. EU survey (Eurostat, 2018a) confirmed that most of Czech Republic population aged 16 to 74 actively uses e-banking channel for electronic transactions with a bank for payment or for looking up account information. EU banking regulator acknowledged PA as the most widespread and therefore important retail financial product for EU consumers (European Banking Authority, 2016).
Rafał Tyszkiewicz, Agnieszka Pawlak-Wolanin, Julita Markiewicz-Patkowska, Soňa Jandová, Piotr Oleśniewicz, Helena Jáčová, Monika Tyszkiewicz
The relationship between a company and a supplier is a strategic resource for both parties. However, not every such relationship can be considered strategic. In order for a relationship to assume strategic importance, it must be special (or unique) in some terms and difficult to imitate. Otherwise, it will not contribute to making the company stand out against the competition. Such relationships may be formed in two areas. Firstly, they may
be intended to increase the company’s access to financial resources; secondly, they facilitate investment (Tyszkiewicz, 2017b). It is noteworthy that partnership is based on such elements as trust and communication. These factors produce a continuous and deepening effect to ensure long-term results satisfactory for both parties involved. It is also significant to define the roles, tasks, and responsibilities of the suppliers and the clients, as well as to fairly share risks, costs, and profits arising from implementation of new initiatives (Christopher, 2000).