Marianna Sinicakova, Veronika Sulikova, Beata Gavurova
In the 1980´s the US economy was marked by until then rather unusual external and internal deﬁcits. Similar situation gradually appeared in other countries. During last decade it was analysed in the case of so called PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) in the European Union. This co-movement draws interest of many researchers. Generally it is believed that internal deﬁcit (ﬁscal budget deﬁcit) causes external one (external balance deﬁcit). External balance deﬁcit is usually measured via trade or current account deﬁcit. This phenomenon is called „twin deﬁcit“. Twin deﬁcit problem can be perceived as a vicious circle. High budget deﬁcit generates important current account deﬁcit and this in turn leads to higher budget deﬁcit. Therefore twin deﬁcit threat should be in the centre of attention of policy makers.
Rastislav Rajnoha, Petra Lesníková, Vladimír Krajčík
The examination of the measuring corporate performance issues is dedicated to many authors from different points of view: the relationship of the strategy and strategic orientation to the business performance (Morgan & Strong, 2003); the view of a strategic measurement performance system through strategic agenda and decision-making as a result of the process of (re)formulating strategy (Bisbe & Malagueño, 2012); the effect of strategic measurement performance system on the important attributes of the strategy formulating process (Gimbert et al., 2010); the effect of strategic performance measurement system of human resources and corporate results (Bento & White, 2014); the use of the process performance measurement (Tuček et al., 2013); the relations among customer satisfaction, customer loyalty and ﬁnancial performance of a commercial bank (Belás & Gabčová, 2016); the methodology for prediction and detection of the ways of solving demanding situations in managerial work, with obvious implications in performance of managers and in efﬁciency of business performance management (Lajčin, Frankovský, & Štefko, 2012); the model of acquisition activity in ﬁnancial sector (Korauš et al., 2015); performance management and public corporate governance with regard to relationships with both external (stakeholders) and internal (politicians and management) actors (Romolini et al., 2015).
Anuţa Buiga, Roxana Stegerean, Alexandru Chiş, Dorina Lazăr
During the last decades, the tourism industry from Central and Eastern European countries has gained an increasing importance. Because of the diversity of businesses and activities inside this sector, the tourism can be considered an effective engine for emerging sectors and for economy. Furthermore, due to its diverse, beautiful nature and valuable historical and cultural inheritance we consider that the tourism sector has growth potential, high efﬁciency and thus, opportunities for signiﬁcant contributions both to national GDP and added value.
Miroslav Šipikal, Valéria Szitásiová, Peter Pisár, Mária Uramová
A Cohesion policy as well as innovation support is one of the main criteria and objectives of the European Union. A large part of these two policies are supported together through Structural funds. The past decade has witnessed a gradual shift from policies aimed at reducing disparities towards those aimed at strengthening regional and national competitiveness, with a focus on exploiting regional potential to contribute to national growth (Barca, 2009). Along with the issues of developmental support and related policy responses, studies dedicated to the role of innovation in this process represent a signiﬁcant part of literature from the last three decades (Asheim, 1996).
Radek Tahal, Tomáš Formánek, Hana Mohelská
Loyal customers are a key factor for successful retail activities. Customer loyalty can be deﬁned as a higher probability of making new and repeated purchases, spontaneously recommending a particular retailer and spreading the positive word-of-mouth. “Loyal customers are less likely to switch to a competitor due to price inducement, and these customers make more purchases compared to less loyal customers” (Dhal, 2015; Mohelska & Sokolova, 2016) For the retailers, customer loyalty is a key factor in reaching long-term commercial success and proﬁtability.