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- ItemBusiness intelligence as a key information and knowledge tool for strategic business performance management(Technická Univerzita v Liberci, 2016-03-09) Rajnoha, Rastislav; Štefko, Róbert; Merková, Martina; Dobrovič, Ján; Ekonomická fakultaThe indicators, methods and models applied in performance management in the past were largely based on financial indicators and financial management methods. Of course, we do not claim that financial indicators are not currently necessary or relevant, but as the business results showed, the management based only on the financial statements is no longer enough. The paper focuses on the presentation of selected research results related to strategic business performance management. With the currently presented issue, we enter an area of research which is not as clearly defined as it was in the case of a traditional financially oriented approach to measuring and managing corporate performance which prevailed in the past. The aim of the paper is to analyse and synthetize findings regarding the chosen, mainly not traditional methods and models, which have started to be used for strategic business performance management. The results of our empirical scientific study provide interesting and valuable findings that the overall performance of industrial enterprises in Slovakia is to be looked at comprehensively strategically and not just in financial terms. Why are some industrial enterprises more efficient than others? What methods and procedures are applied by more efficient companies? The answers to these questions can be found in our paper. We recommend industry enterprises to apply selected methods and models of strategic business performance management. The key tool in increasing the overall performance of the enterprise in the selected Slovak industries seems to be employing a system of strategic performance management, supported by a knowledge-based Business Intelligence Information System.
- ItemCharacteristic features of project management in small and medium-sized enterprises(Technická Univerzita v Liberci, 2016-03-09) Kozlowski, Remigiusz; Matejun, Marek; Ekonomická fakultaThe trend of specificity in studies on small and medium-sized enterprises management focuses on the search for characteristic qualitative and quantitative features distinguishing these entities from others, particularly from large enterprises. Research conducted within this trend may concern the general characteristics of small and medium-sized companies, as well as their functional characteristics connected with particular areas of management. One such area of growing importance for today’s organizations is project management. This approach plays an important role in a dynamic, complex and uncertain environment, providing a response to accelerated competition, increased economic pressures, and rapid technological change. Use the project management by small and medium-sized enterprises enables cost reduction and facilitates the introduction of new products and services to the market, primarily including innovative solutions in response to individual and changing client requirements. However, project management should be implemented with consideration for the individual needs and possibilities of specific business entities, including SMEs. Taking this facts into consideration, the goal of the paper is to identify and evaluate select areas related to qualitative characteristics of project management in SMEs. The analysis refers to individual phases of a project life cycle, is of comparative nature, and is based on the results of studies conducted on a sample of 563 small and medium-sized enterprises and 334 large enterprises. The test of the difference between two population proportions was used to identify the areas of project management characteristic to SMEs statistically. Based on the study results, five research hypotheses have been verified concerning the basic goals, role of the owner, inter-organizational cooperation, and limited formalization in the process of project management in small and medium-sized enterprises.
- ItemDecomposition of unemployment: the case of the Visegrad group countries(Technická Univerzita v Liberci, 2016-03-09) Tvrdoň, Michal; Ekonomická fakultaGenerally, output measured by real gross domestic product declines and the unemployment rate rises during the economic crisis. This relationship was confirmed in the past several crises. However, the impact of economic downturns on structural unemployment will depend on many factors. The aim of the paper is to decomposite unemployment and we try to estimate the rate of structural unemployment. We also made an effort to determine the effects of the crisis on economic performance and functioning of the labour market in the Visegrad group countries. The analysis showed considerable sensitivity of these economies to the development of the external environment (except Poland), mainly through an export channel – the most affected was an industry sector, especially automotive industry. It seems to be important to have more diversified structure of the economy, mainly the exports. Quarterly data from the Eurostat LFS database in the period between 2000 and 2014 were applied. In order to estimate the trend of the unemployment rate´s development was used Hodrick-Prescott filter. Data show that all observed economies recorded a low unemployment rate in a pre-crisis period and they had to face worsened labour market performance during and after the crisis. Our results suggest that structural component seems to be the most important component of total unemployment. Moreover, it has decreased in these countries, except Hungary. We also compared our approach with an OECD approach which is based on employment of Kalman filter. Results suggest that both methods, although they are based on different processes, lead to analogous results.
- ItemDiagnosing organizational culture in national and intercultural context(Technická Univerzita v Liberci, 2016-03-09) Vetráková, Milota; Smerek, Lukáš; Ekonomická fakultaFormation of companies with multinational management that act within multinational and transnational corporations is a result of the globalization process. The change in organizational culture and management system is caused by the global environment. Companies’ management is changing from ethnocentric and polycentric to management without borders. To achieve greater efficiency in competing in the global market is the reason for this change. The management system is complex, because it is based on international cooperation and consists of international managerial teams. The level of intercultural socialization and our cultural awareness are predicted by the comparison and confrontation of differences in organizational culture and human resources development. The paper is focused on diagnosing of organizational culture in organizations operating in Slovakia. The survey was conducted in 236 medium and large enterprises in Slovakia. Personnel or senior managers responsible for the level of organizational culture and human resources development in enterprises were the respondents. The assumptions about possibility of diagnosing the types of organizational culture in selected Slovak enterprises with and without foreign participation were confirmed. Pros and cons of different organizational culture types in the development of human resources were identified. We observed that hierarchical and clan cultures are the most common ones in Slovak enterprises. While hierarchical culture occurs in enterprises with no foreign participation, clan and market-oriented culture is strongly represented in enterprises with international participation. The results of organizational culture examination were confronted with the opinions of experts using the Delphi method leading to increasing the validity and reliability of the primary findings. Such opinions suggest links between the management of Slovak enterprises and national history and culture. Focus on flexibility, mutual communication, profitability and competitiveness is set in enterprises with international participation with influences of different cultures.
- ItemEvaluation of measures to reduce employee turnover in Slovenian organisations(Technická Univerzita v Liberci, 2016-03-09) Buzeti, Jernej; Klun, Maja; Stare, Janez; Ekonomická fakultaThis paper provides an estimate of the costs of reducing employee turnover and an estimate of the costs of employee turnover in Slovenian companies. The study included all economic activities, and in this respect it is one of the few studies that focus on the complete economy of an individual country. The study estimated two groups of costs; namely, the costs of employee-preferred measures for reducing employee turnover rates in organisations and the average costs of replacing an employee in an organisation. When evaluating the costs of employee-preferred measures we mainly wanted to evaluate the costs of subsidising informal meetings, bonuses for the continuity of employment and bonuses for workplace attendance. Most other measures preferred by employees are of a non-financial nature, except for promotion, which we did not evaluate specifically as it is primarily part of the company‘s employment and job diversity policy. In estimating the costs of employee turnover we focused only on the costs of hiring a new employee: the cost of replacing an employee and the cost of introducing the new employee. Using several assumptions the estimated total cost of employee turnover in Slovenia ranges from €2.2 million to €3.4 million per year in year 2011.In addition to the estimations of both groups of costs, this paper also provides a comparison of evaluations of selected measures for reducing employee turnover as perceived by employees and employers. We arrived at important conclusions, as it turned out that employers give higher ratings to financial measures, while employees give higher ratings to non-financial measures.
- ItemA grey multi-objective linear model to find critical path of a project by using time, cost, quality and risk parameters(Technická Univerzita v Liberci, 2016-03-09) Mahdiraji, Hannan Amoozad; Hajiagha, Seyed Hossein Razavi; Hashemi, Shide Sadat; Zavadskas, Edmundas Kazimieras; Ekonomická fakultaA project is a series of related activities which are organized to reach a defined goal or satisfy a certain need. Project management plays an important role in different fields of human life. The amount of resources spent on a project renders management of these resources a sensitive task. Determinant factors’ influencing the payoffs of a project mainly encompasses time, cost, quality and also the risk of each activity. Therefore, a critical path method is presented to find the longest path of a project completion time in order to draw managers’ attention to the critical activities. Critical path method is a well-known and widely accepted method to find the critical activities of a project and to concentrate on them for accomplishment of the project without any deviation. Classical critical path methods usually consider only a time factor, but growing complexity and importance of projects entail cost, quality and risk as the critical factors to be considered in project management. Due to the unavailability of certain information relating each factor of each activity, considering a novel approach to deal with such vague and unstable situations is really a controversial issue. Thus, another challenge of the project management contains uncertainty for approximating time, cost, quality, and risk factors of the project activities. Taking into account these two challenges, a grey multi-objective critical path model is proposed in this paper, where parameters of the activities are evaluated as grey numbers, dealing with their uncertainty. Meanwhile, a goal programming based method is illustrated to solve the problem of critical path identification, considering four considerable criteria including time, cost, quality, and risk. Eventually, a numerical example is represented to address applicability of the proposed method.
- ItemInformation management tools for implementing an effective enterprise business continuity strategy(Technická Univerzita v Liberci, 2016-03-09) Podaras, Athanasios; Antlová, Klára; Motejlek, Jiří; Ekonomická fakultaThe current work aims to the development of the Business Continuity Testing Points method which can help both IT as well as business managers define an efficient business continuity strategy. The BCTP method stems from the UML Use Case Points theory which is a practically tested and accepted approach to SW complexity estimation. The Use Case Points methodology was selected as the theory behind the construction of the BCTP model, due to the fact that firstly, both theories share the requirement analysis task and secondly because complexity of information systems is strongly related to their recovery in cases of their unexpected failovers. In the Use Case Points theory IT analysts perform software requirement analysis by executing various business scenarios. The BCTP theory, on the other hand, is constructed to support the analysis of IT system recovery requirements, by executing multiple efficient recovery scenarios. The method is a new approach to the objective determination of the Recovery Time Effort of a business function in comparison to the Rational Time Objective and the Maximum Acceptable Outage, which are defined with regard to the Impact Value Level of the function. The most critical functions of the enterprise should be included in the Minimum Business Continuity Objective (MBCO) concept. MBCO refers to vital business functions without which the enterprise is not able to perform its basic operations. The Recovery Time Effort of a given business function is affected by multiple Technical, Environmental and Unexpected factors with precise weights and assessment values. Recovery exercises should be based on scenarios which include the unexpected factors that may delay the recovery process. The derived exercise results are proposed as drivers for the reassessment of the criticality of a business function.
- ItemNet promoter score integration into the enterprise performance measurement and management system – a way to performance methods development(Technická Univerzita v Liberci, 2016-03-09) Faltejsková, Olga; Dvořáková, Lilia; Hotovcová, Barbora; Ekonomická fakultaIn the current global environment the enterprise performance can be defined the best as the success on the market, the ability to succeed in the competition and to find the possibility for further growth in the constantly changing, unstable environment. In the view of these conditions performance has to be seen as a multicriterial quantity. The takings growth becomes its significant factor conditioned by the satisfaction of the customer who is bound to the product and the producer in the long-term. It creates the customer’s loyalty as the basis of the enterprise prosperity. In the customer-oriented market conditions marketing is becoming an important part of management in the new holistic concept. The approximation of marketing principles with the enterprise financial management brings new possibilities in enterprise performance measurement. The customer satisfaction measurement and its integration into the performance-oriented systems of business management currently gets among the main points of interest. The paper presents the research results in the area of Net Promoter Score (NPS) integration into the enterprise performance measurement and management with the target to develop performance measurement and management methods in the paradigm of the 21st century. Critical analysis and customer satisfaction and loyalty measurement and management evaluation was performed based on the immediate customer experience principles in the context of modern methods of enterprise performance measurement and management. The results of the performed empiric research proved and demonstrated the expediency of NPS use for customers‘ satisfaction measurement in the brewing industry area and on the beer market in the Czech Republic, including the confirmation of suitability and significance of NPS integration into the financial performance measurement system based on the economic value added method.
- ItemPay and offer of benefits as significant determinants of job satisfaction – a case study in the Czech Republic(Technická Univerzita v Liberci, 2016-03-09) Sokolová, Marcela; Mohelská, Hana; Zubr, Václav; Ekonomická fakultaEmotions are an important factor that affects employee performance; job satisfaction or dissatisfaction represent one of the important components of emotions. There are very few studies dealing with determinants that affect job satisfaction in the Czech Republic. The studies published so far show that the Czech Republic has ranked and still ranks among the states with the lowest level of satisfaction. The aim of this study is to answer the research question whether changing trends in the level of pay and fringe benefits correlates to overall job satisfaction, or satisfaction with pay and fringe benefits. Pay and fringe benefits are significant determinants that affect job satisfaction. The results of the study show that they lower the overall level of job satisfaction since the average level of these determinants is lower than the average level of overall job satisfaction. Overall job satisfaction is increased by other factors, such as supervision, co-workers, nature of work and communication, whose average level of satisfaction exceeds 4.00. Therefore, the emerging trend of rising pay levels is definitely good for increase the level of overall job satisfaction. On the other hand, it is impossible to prove that changing trends in pay correlates to overall job satisfaction, which is also significantly affected by other determinants. It would be suitable, within the framework of further surveys, to expand the area of examination to include additional determinants, such as family life satisfaction, or to examine how job satisfaction affects life satisfaction. The paper was written with the support of the specific project 2016 grant "Determinants affecting job satisfaction" granted by the University of Hradec Králové, Czech Republic.
- ItemThe relationship among customer satisfaction, loyalty and financial performance of commercial banks(Technická Univerzita v Liberci, 2016-03-09) Belás, Jaroslav; Gabčová, Lenka; Ekonomická fakultaIn the current banking sector, characterized by an increasing competition, efficient management of selling additional products and services to existing satisfied customers represents a significant opportunity to improve the financial performance of a commercial bank. To sum up, the conclusion of the up to date literature is an idea that customer satisfaction leads to customer loyalty and loyalty leads to willingness to purchase additional products. However, there are practically no papers quantifying the influence of loyalty on additional products purchases. The aim of this paper is to create a model among customer satisfaction, loyalty and financial performance of commercial banks in the Czech Republic. It is based on our original research realized as a survey with a total of 459 respondents that have been reached. The created model has proven that product quality, recognition of customers´ financial needs and acceptance of prices by a customer have an impact on customer satisfaction, which then influences customer loyalty and this in return influences additional purchases potential of a customer. The regression model of relation between customer satisfaction and loyalty of bank customer has this form: CL = 0.01163 + 0.9191 x CS, where: CL – customer loyalty, CS – customer satisfaction. The regression model of relation between customer loyalty and additional purchases: APP = -0.05667 + 0.5848 x CL, where: APP – additional purchases potential, CL – customer loyalty. At the end, the paper is dedicated to a model example showing that if a commercial bank is able to increase the number of satisfied customers by 10,000, it can obtain additional yearly income of EUR 9.6 million.
- ItemSystem of day surgery in Slovakia: analysis of pediatric day surgery discrepancies in the regions and their importance in strategy of its development(Technická Univerzita v Liberci, 2016-03-09) Gavurová, Beáta; Soltes, Marek; Ekonomická fakultaIn the recent years in Slovakia occurred some negative changes in settings of the health system which deflected steady relationships in the system and significantly changed the motivation of their participants. It deepened the inefficiency use of healthcare resources. In the foreground of urgent problems is the unresolved issue of ensuring health policy objectives, the availability and quality of health care and the financial sustainability of the system. The indebtedness of Slovak hospitals disproportionately increases and in international comparison of results of healthcare is Slovakia gradually moving away from developed countries. One form of increasing the efficiency of the health system is to support the development of day surgery, which in Slovakia in during its 15 years of existence stagnating and reached only a level of 7%. The aim of the study is to analyze the level of implementation of pediatric day surgery in Slovakia, with special focus on possible regional discrepancies, based on the data available from the National Health Information Centre. This topic was chosen due to specificity of pediatric population compared to the adult one. Analysis revealed uneven trends in the number of completed pediatric day surgery procedures and specified regional disparities. Extreme fluctuations in the proportions of day surgery and traditional in-hospital surgical care suggest deliberate misuse of reporting methodology by some healthcare providers (reporting day surgery procedures as in-hospital care) in various regions during the analyzed period. This observation may be caused by the instability of reimbursement system. With respect to the financial issues, the importance of health insurance companies is obvious, as they have the right to set their own payment strategies and are responsible for the contractual relations with the health care providers. To achieve positive progress in the pediatric day surgery in Slovakia, it is necessary to adjust the active health policy in the country in a way that the balance among the quality of health care, costs, efficiency and equality is achieved.
- ItemTransformation of retailing in post-communist Slovakia in the context of globalization(Technická Univerzita v Liberci, 2016-03-09) Križan, František; Bilková, Kristína; Kita, Pavol; Siviček, Tomáš; Ekonomická fakultaRetailing is a form of exchange, which mediates the movement of goods between the manufacturer, their transfer and sales to the phase of the field of final consumption. For the past 25 years significant transformation processes have been identified in the retailing of post-communist countries that have both an economic and also spatial character. The aim of this paper is to analyze retailing in Slovakia and its development in the period of 25 years with specific attention paid to the transformation process. In the paper these processes are classified and defined in the time and space context. The conclusions of the study show that in Slovakia some trends in globalization processes can be identified, which are typical in other developed countries. These changes become evident particularly after 1989. The process of atomization of the retail is the first analysed process and it is typical for the transition period from the centrally-planned economy to the market economy. The further processes are related to manifestations of globalization in the Slovakian retail. Those are the processes of internationalization, cooperation, and concentration in the retail. By analyzing all of the changes in the Slovak retail it is then possible to identify several stages of transformation. The characteristics of the globalization processes in the retail sector are more intense in urban areas than in rural. For Slovakia, there is a delayed transition in the processes in comparison with neighbouring countries. The size of the market determines the intensity of the manifestations of the globalization processes. The ultimate consolidation of retailers in Slovakia can be categorized as transformation process in the initial stage of development.
- ItemValue creation for stakeholders in higher education management(Technická Univerzita v Liberci, 2016-03-09) Stankevičienė, Jelena; Vaiciukevičiūtė, Agnė; Ekonomická fakultaThe article deals with value creation measurement issue in public Higher Education Institutions (HEIs) and discuss the linkage between selected Key Performance Indicators (KPIs) and new multi-criteria Factor Relationship (FARE) method capability to present accurate results when one of the Lithuanian universities is chosen. In order to enhance the precision of the results, the specific stakeholder group according to their power and willingness to cooperate was used as the basis for selected KPIs. Based on the stakeholders’ distribution the employees from the group with the highest power and cooperation level were chosen as a target group. The selection process was diverted to the criteria groups of efficiency and internationality regarding to value creation process when public university is considered as a beneficiary of value created. The employees of the university were compared against 6 criteria, 4 of which characterize specific performance of various types of employees based on internationality aspect which was considered as important component in overall performance, 1 refer to financial performance activities and another 1 respond to resource contribution towards internationality in university as a whole. The minimum amount of initial data of the relationship between the chosen criteria group was taken from experts and used as the basis for analytical evaluation of other criteria groups’ relationship. Based on the new Factor Relationship (FARE) multi-criteria evaluation method, results concerning importance of each criterion were measured. The findings showed which KPIs group plays the highest role in value creation process of selected Lithuanian university. The results showed that the most important criteria groups were professors’ internationality as well as Service and Administration Resources Environment. These two components had the highest importance weights compared with other criteria groups.