Search

The fourth industrial revolution (4IR) has brought with it an excess of possibilities for automation within various industry sectors. The 4IR will be achieved by using technology to change the way of life, to change how products/services are produced/provided by manufacturers and to change the mechanics of globalization significantly if not completely. This new way of life will see many occupations being replaced by automation while completely new ones are created. In the South African context, there is evidence from the banking sector where, occupations that previously required human consultants for customer queries have been replaced with self-service platforms for consumers. This phenomenon has led some big companies in SA have plans to close down their call center departments. Additional reports on 4IR point to the unfortunate eventuality of job losses in the auditing, legal and health industries just to name a few. This paper looks into the future of this advanced wave of automation in the context of the South African manufacturing sector. It examines the subject of automation in manufacturing in South Africa, a means to gauge the state of automation compared to global competitors. The intention was to determine how this automation has been implemented on a global scale and how this has eventually affected the human operator. The necessary pre-conditions for automation have been investigated. Their linkages with the levels of automation were examined. [ABSTRACT FROM AUTHOR]

The study explores the relationship between real GDP per capita growth and globalization measured by KOF indexes of economic, trade, and financial globalization. The long-run relationship between globalization and growth is examined by applying panel cointegration tests to a sample of 135 countries during 1992-2018. It confirms the presence of a long-run relationship between real GDP growth and respective KOF indexes of globalization. The Granger causality test confirms the existence of a bi-directional relationship between globalization and growth. Further, it provides evidence that trade and financial components of globalization are sensitive to GDP growth with different time lags. Research findings confirm that economic globalization and growth mutually reinforce and support each other, hence policies of liberalization and openness should be followed. [ABSTRACT FROM AUTHOR]

Under the conditions of the contemporary economy, the intensification of foreign trade is a fundamental requirement of economic growth, of business internationalization and, implicitly, of economic globalization. On the other hand, business development in the international environment, regardless of the size of the economic entities or their field of activity, tends to become a prerequisite of organizational existence. For this reason, the business strategies must be synchronized with the requirements and demands of the economic globalization. In this context, the authors of the present paper aimed to identify and briefly present the main effects of the globalization on the business internationalization and the management of the multinational companies. [ABSTRACT FROM AUTHOR]

The literature recognizes that the gradual countries' involvement in the economic globalization has generated competitive environments that stimulate innovation and economic growth. Yet, globalization has also apparently led to the increase of inequality, contributing for waves of populism and discontent, claiming for justice in sharing these benefits. Thus, it is not surprising that the interaction globalization/social justice is paying attention to politicians and academics, seeking to identify if there is reason to fear that the globalization leads to increase inequality. The paper deals with the link between globalization and social justice, measured by updated indicators that improved the data quality and broadened their baseline. In what globalization concerns are applied the renewed KOF index, including de facto and de jure perspectives. Concerning social justice, are used the latest "EU Social Justice Index". Structural unemployment trends, such as the long duration distressing people's skills and motivation, as well as youth unemployment, which has stimulated immigration and led to the departure of skilled young people, have greatly reduced their potential for growth. GDP declined, corporate failures increased, as did unemployment and poverty. Governments have greatly limited their spending, particularly at the social level, in order to meet the targets, set in the adjustment programs. In addition, countries no longer have financial conditions to implement measures to stimulate the economy, in order to promote a faster recovery. It has recently been surprising that the escalation of globalization has put people in a precarious employment position, who felt they were protected from the competition of low wages. This paper, also, reflects on the effects of the recent global financial crises in the EU members, which especially hit the Euro zone. [ABSTRACT FROM AUTHOR]

The principal objective of this paper is to analysis of current SME situation in the Post-Soviet Countries, state policy, supporting programs, financial support, finding similarities and differences in post communistic legislative features, institutions, economic systems, understanding positive and negative sides of these differences and their affect on SME activity. The paper analyses a situation of one-way integration mode and information flow and outlines an existing gap in SMEs management approach. In order to succeed on international markets, it is needed to build up a network of awareness and information exchange between major actors such as SMEs, public and business support institutions, academia and other players. The article relates the key attributes of factors directly connected to SMEs and integration as well as concentrates on how SME could benefit from a closer regional economic integration through information exchange. [ABSTRACT FROM AUTHOR]

The article considers the concept of sustainable development, the main directions of sustainable development concept. Particular attention is paid to the peculiarities of monetary assurance of macroeconomic stability in the context of globalization for sustainable development. By analyzing its impact on transmission mechanisms of monetary policy, the direct effect of financial globalization on influence of this policy is traced. The paper further notes that globalization can affect the incentives for central banks to control inflation and, more directly, inflation processes in the short and medium term. Investigating the materials, the author draws the conclusion that, theoretically, globalization can affect inflation and monetary policy through several channels. First, globalization can directly influence the MCP by changing the environment in financial markets. First, globalization can directly influence the MCP by changing the environment in financial markets. Secondly, financial globalization, i.e. higher international mobility of capital may have an imbalance, forcing central banks to pursue sound money-credit policies for sustainable economic growth. [ABSTRACT FROM AUTHOR]

The intensity of economic and political changes in the globalized economy requires significant changes in the exchange rate policies of the developing countries. This has led the determination of tranmission channel from exchange rate volatility to the economy to be much more complex for researchers. Different approaches have been put forward explaining the transmission channel in various countries. The short and long-run, direct and indirect channels of the transmission have been studied in the existing literature. The study examines and defines the tranmission channel from exchange rate volatility to the share of agriculture in GDP of Azerbaijan Republic. Key research variables of the study have been chosen among the main macroeconomic variables of the country. Quarterly data from 2007 to 2018 is taken for the econometric analysis. The paper uses a cointegrated VAR model, VECM model for Azerbaijan in order to study the response of the share of agriculture in GDP to non-oil real effective exchange rates in Azerbaijan. Empirical analysis shows that, for Azerbaijan there is a shortrun statistical significant relationship between the non-oil real effective exchange rate and agriculture share in GDP getting its basis from the increasing trade in the country in a shortterm. Besides, there have been found a long run relationship running from Imports; Inflation and GDP to share of Agriculture in GDP; and from Imports; Inflation and GDP to non-oil real effective exchange rate in Azerbaijan as well. In conclusion, decreases in trade (exports and imports) are transmitted to higher non-oil real effective exchange rate that also affects the share of agriculture in GDP negatively in a short-run and they relate with each other in a longrun as well. [ABSTRACT FROM AUTHOR]

Modern know-how is currently being transformed into a crucial factor in economic growth and competitiveness of our country. The country's economic leadership can only be achieved on the basis of modern technology and the most advanced technology in public production. The important factor of socio-economic development in modern Azerbaijan is the constant renewal and modernization of knowledge. Generation of knowledge, the main means of their collection and transmission is education, especially higher education and post-secondary education. The modern stage of development and management of education is characterized by the globalization and institutionalization of economic relations. Particular attention should be paid to the co-operation of enterprises in establishing a single educational space within the intensification of relations in the educational process. Thus, in contrast to economic entities entering into competition with each other for the consumer, it is necessary to achieve the cooperation of educational institutions, especially the higher education institutions. This, in its turn, will lead to the availability of "hands-on" solutions for all services provided by the education system and increase the quality of education. Higher education, especially after the postgraduate education, is characterized by the transition from the training of highly qualified personnel to the formation of human personality. This requires the preparation and implementation of a new educational paradigm that focuses on the formation of education, and in particular, the post-graduate education. Post-graduate vocational education is the next stage in vocational training, which enables citizens to raise their education, science and professional level on the basis of higher vocational education. Such education can be acquired at the doctoral, philatelic, adjuncture and doctoral studies of the relevant specialties created at the Higher Vocational Education Institutions and Research Institutions. Traditionally, philosophy and doctoral studies include the fourth and fifth levels of vocational education. In fact, however, the job is more complicated. Thus, in the development of the Law of Azerbaijan Republic "On Education", this stage of professional education was defined as a special area of postgraduate education. In our opinion, it would be better for this stage of education to be called "scientific education". Post-graduate professional (vocational) education realizes programs designed to train highly qualified scientific and scientific-pedagogical cadres - philosophy and doctors of sciences. Preparation of scientific and scientific-pedagogical cadres is carried out in the form of doctoral studies, dissertations, thesis of philosophy and science. Scientific and scientific-pedagogical staff training and attestation system operates in Azerbaijan. PhD degree in scientific specialties is awarded on dissertation boards as a result of open dissertation defense of researchers having higher or higher education and approved by the Supreme Attestation Commission under the President of the Republic of Azerbaijan. the name of the doctor of sciences is issued by the Higher Attestation Commission of the President of the Republic of Azerbaijan on the basis of the presentation of the specialized dissertation councils after the dissertation defense of the researcher. The main form of training of scientificpedagogical and scientific cadres, as well as education, science and pedagogical specialties on the basis of higher vocational education, is a doctorate in scientific specialties. The preparation of philosophical doctors is carried out in accordance with the current nomenclature of scientific worker specialties for the fields of science and scientific specialties. [ABSTRACT FROM AUTHOR]

This research work presents agricultural PYMES in the state of Sinaloa, México as a subject of study in a scenario where, based on their characteristics, the problems faced when it comes to internationalization are analyzed. The determining factors and the obstacles that restrict the possibilities of entering foreign markets are exposed and the different export strategies will be analyzed, in a scenario of business integration or export association that will allow a greater insertion in international markets and increase their competitiveness. Finally, the work presents a series of proposals and strategies to carry out the organizational schemes called export consortia and operationalized in agricultural Pymes in the state of Sinaloa. [ABSTRACT FROM AUTHOR]

In modern conditions of globalization and global competition clusters are a tool that ensures the sustainable development of the national economy. The last decade has shown that the formation of clusters is an important and integral part of the state policy in the field of regional development not only in Russia but also in all developed countries of the world. The analysis of the current state of research in the field of theories of territorial organization of production, concepts of competitiveness, laws of formation of cluster structures, the development of new methodological tools for the identification of clusters, cluster effects, the definition of criteria and performance indicators allow to update the direction of cluster policy, to propose strategies to improve the competitiveness of regions and the quality of life. Particular scientific and practical importance of research aimed at the development of a Toolkit to encourage clustering of regional economy, with the aim of enhancing their inclusion into the system of the modernization of relations. The cluster approach contributes to the development of production of products with high added value, as well as the activation of innovative processes in conditions of lack of natural and other resources. It stimulates the deepening of the processes of complex processing of raw materials and the use of resource-saving technologies combined with a high level of specialization and cooperation of various industries, helps to unite the efforts of neighboring and related enterprises for more effective interaction, ensures high competitiveness of jointly produced products and services in national and international markets. The result of the study: in this article the cluster approach is considered as a factor of innovative development and competitiveness of the national economy, the essence and types of clusters are analyzed, the essence of the concept of "sustainable development" in relation to the national economy is analyzed; the archetypes of the regions are identified, which allowed to offer a set of measures for sustainable development of the national economy, the mechanism of implementation of cluster policy to sustainable development of the national economy is presented. The theoretical and methodological basis of the study was the fundamental provisions of a number of scientific areas - the theory of national and regional competitiveness, cluster economic theory, the concept of regional archetypes, theories of spatial proximity, the General theory of systems. The paper uses methods of analysis of socio-economic indicators, comparisons, groupings, tabular and graphical methods of data visualization. [ABSTRACT FROM AUTHOR]

The importance of the provision of economic growth in globalized world economy, being the strategic aim of national interests, the strengthening of macroeconomic stability comprehensive and sustainable development, improvement of social welfare as a source connected with these problems. Since its independence, volatile development of Azerbaijan's economic growth rate, that is stages of recession, stability and upsurge or boom, was the result of various internal and external factors, affected by the country's strategic importance. For example, if recession in the early years was characterized by internal factors like stagnation and stability, the upsurge stage of the country's economy related to the oil strategy was catalyzed by such external factor as the increase of the oil prices in global economy. Nevertheless, slowdown in economic growth and weakening of economic activity in 2001-2014 with the sudden and sharp drop in oil prices, reconfirmed, that dependence of the economy mainly on oil-related activity is not effective. As a result, decrease in monetary reserves and limitation in sources of economic financing, generated necessity for search of new means of investment in its economic growth. From 2015 it was an imperative course to shift from capital-intensive to essentially new economic growth models based on efficient financing sources and prioritization of non-oil sector development was set forward as the catalytic factor in the process. It is specifically stated in the Strategic Road Map on national economy that development of the non-oil sector plays a crucial role in achieving sustainable economic growth. The chances of non-oil sector development depends on the stabled and balanced development of regions, improvement of economic structure and their implementation and capital investment. The hardness center of regional development of socio-economic development are connected with institutional reforms, the implementation of the measures accelerating economic development in the regions, achieving their balance development caused to the disproportion. Determination of development priorities of the regions, effective utilization of existing natural resources, from the proportional placement of productive forces, approaching of production fields to raw materials, with expansion of innovative production of export orientation of competitiveness, diversification of economy creates conditions and it provides the economic stability of the country. [ABSTRACT FROM AUTHOR]

The small and medium enterprises (SMEs) are a vital part of economic growth in each country and their importance locally rising with the more severe economic crisis and globalization. SMEs face numerous challenges in striving to preserve their existence and develop solid business. There are various personal-entrepreneurial, internal and external factors that influence the high failure rate of SMEs. This paper provides a literature review on the factors that influence SMEs failure and proceeds with an analysis of the effects that demographic parameters have on the failure of the SMEs in Serbia. Data were obtained from comprehensive research conducted with the aim to define reasons for the failure of SMEs and possibilities for the recovery after failure. The findings reveal the elements that should be focused on and should be explored in order to understand the SMEs failure causes and provide the opportunity to avoid them. [ABSTRACT FROM AUTHOR]

With the advent of globalisation and fierce competition, outsourcing is considered as a smart management technique and a strategic initiative, which enables organisations to achieve competitive advantage in today's market. Accordingly, most of the organisations from both private and public sectors have tended to outsource at least one of their services to outside service providers. Over the years, a number of researchers have discussed themes of outsourcing in different perspectives, and the aim of this paper is to synthesize the existing literature in order to provide a clearer picture of the outsourcing concept. Though outsourcing has been written extensively, as the researchers highlighted, most of the previous studies have focused on two key questions: "should we outsource?" and "what to outsource?". Therefore, this paper goes beyond what is often addressed in literature and discusses different definitions of outsourcing, the notions identified through those definitions, different forms of outsourcing, motives as well as the outsourcing process. While outsourcing involves two major parties, i.e. the Client; who obtains a specific product, service or a process and the Service Provider; who provides the said product, service or process, this paper discusses the above key themes from the Client's point of view. [ABSTRACT FROM AUTHOR]

In many industrialized societies we observe persistent gender pay gaps and while labor force participation of women is increasing, it is also consistently found to be lower than men's par- ticipation. The persistence of gender inequality seems surprising, given recent developments of globalization and the sectoral shift from male dominated industrial production to service work. In this paper, we address the question of how economic globalization affects gender inequality. Using employer-employee linked administrative data, we analyze trade flows between Germany and China as well as Eastern Europe. We use an instrumental variable approach to identify the causal effects of trade exposure on men's and womens labor force participation and wages in Germany. We show that imports, and to a lesser degree exports, affect female and male labor market outcomes differentially. While women seem to be overproportionally negatively affected by imports, their labor force participation also does not seem to improve through increasing exports. We ascribe these disproportional effects mainly to occupational sex segregation and differences in men's and women's position in firms affected by trade. [ABSTRACT FROM AUTHOR]

Indian economy was liberalized in 1991 but it has risen on the wave of globalization. It appeared that nuances of liberalization were not understood in right perspective and hence economic growth which was achieved is mesmerizing but lacked substance. Even banking sector was not tuned to steady growth. MSME was neglected completely. Therefore, the benefit was available to services and it was hollow from the core. Since trade wave was high for long time, India could take the benefit of growth for some time but as the trade was imbalanced across the globe the problem was fast approaching and it proved accidental in 1997 but the collapse was total in 2008. It was the wrong doing of IMF which gave dollar a free hand and second it was the fast economies which had focused on export. The surplus of one country was deficit of the other thus defying the rules of IMF that trade is expected to remain balanced to avoid the devaluation of currency. Since economies were devastated in 2008, the competitive devaluation began to cause disruption in the trade and hence posed serious risk to economic growth of small economies. Since fiscal space was too limited because of the debt overhang, the monetary policies were tightened to maintain exchange control, the economies were fixed to a hook where the movement was stopped altogether. As a solution to recover the economies from deep pit, advanced economies had to infuse liquidity into the system, but its impact was too narrow and not broad based. No doubt the benefit of liquidity was available to Indian economy also but except to keep check on current account deficit there is no additional benefit because investment had fallen below 30%. To pick up the growth it is important that Investment in the industrial sector has to move up. There are numerous hiccups in the way and economy cannot be stretched beyond means. The recapitalization of banks is not very easy. Selectively if some sectors are given some tip off the results can be confusing at the most. Therefore hands are tied and the passage is not available. The picture would be clear once the dust of GST is settled down. Since the present regime is against the corruption informal economy may face initial shocks from the rules but later in years to come, there can be some widening. But how it would happen the things are not clear. [ABSTRACT FROM AUTHOR]

Although extant literature has shown that leader-member exchange has an effect on counterproductive work behavior, only a few articles identify different cultural groups when studying on the issue. This study aims to construct a theoretical model of hypotheses about the relationship between leader-member exchange and counterproductive work behavior in the perspective of cross-culture. There exist two groups which are against local and migrant cultural backgrounds separately in cross-border companies. In this paper, we respectively study the effect of leader-migrant member exchange and leader-local member exchange on counterproductive work behavior of local members. We conduct a systematical review of literature and theories, and use the method of semistructured interview to propose some hypotheses about the main effect, mediating effect and moderating effect of the relationship between leader-member exchange and counterproductive work behavior. These hypotheses finally form the theoretical model. Overall, this study provides new insights on what theoretical model exists in the relationship between leader-member exchange and counterproductive work behavior. [ABSTRACT FROM AUTHOR]

Industry developments forced the performance of manufacturing companies to be managed according to high standards at all levels - cost, quality, speed, flexibility, reliability, delivery (Florin, 2019) and to the attention of many stakeholders, including owners, employees, suppliers, and investors. Strong performing companies will result in growth in various aspects of global competitiveness which ultimately affects performance in development, investment, trust from shareholders (Brigham and Houston, 2004), Economic globalization in the automotive industry makes boundaries between regions and countries seem to be free and this creates competition. can be seen with the business phenomenon where the industry expands its supply chain globally and sells products worldwide (Yang, 2018) one them Indonesia, The biggest challenge today is a company not only competing with competitors who are different from but also with the same group in various countries and even make alliances to maintain competitiveness such as Renault-Nissan-Mitsubishi, To gain the trust of Top management so that they are given trust in this matter. new model or technology, for that usually MultiInternational Companies will do "Plant Ranking" on their production systems around the world including manufacturers in Indonesia, this is done so that companies are competitive, one of which is in terms of optimizing the number of workers. The purpose of this research is to improve performance in terms of the production line at the assembly line at an automotive factory in Indonesia by using several actual data collection methods by looking at existing conditions using Value Stream Mapping (VSM) and followed by Line Balancing using the Yamazumi chart. The results of this research contribute to the literature in the automotive sector. but in various other sectors. [ABSTRACT FROM AUTHOR]

Following the turbulent year of 2016, with deep geopolitical changes, the new year of 2017 promises to be full of challenges in what concerns the economic, social, political and geostrategic area. The key events of the last year (the Brexit, the elections in the USA, the events in Turkey, the force demonstrations of Russia, the situation of the migration wave etc.) shall have an impact on the global economic development and on the repositioning of its main actors. This paperwork intends to analyze the main consequences of the recent events on the short term progress in what concerns the economic, social, political and geostrategic area. We hereby intend to review the facts and the main potential progress on the economic status of this year which was so complicated, both for the European Union and for every member of it. [ABSTRACT FROM AUTHOR]

Once humanity had made the necessary technological leaps for promoting fast and easy travel, the acceleration of human endeavors was inevitable. This acceleration has made possible the integration and globalization of national economies, a global economy emerging. Globalization has become a force impossibile to resist and impossible to deny. Globalization has both advantages and disadvantages. The issue that humanity must understand is it cannot be reversed, just its disadvantages reduced or made bearable. [ABSTRACT FROM AUTHOR]

In the present consumer society, we are alike creators as well as addressees, of an impressive number of options. Of these, we need to choose what is relevant to their own social needs. At the same time appears the necessity to understand and of developing the concept of authenticity from the sociological point of view. This is the reason the confidence, naturalness, truth, warranty, has became in our research, tools of verification of social attitudes in the context of socio-political events, caused in their turn by global geostrategic policy. [ABSTRACT FROM AUTHOR]

Trade is one of the leading sectors of the Croatian economy, which has undergone significant changes under the influence of globalization over the last decade. According to Central Bureau of Statistics in Croatia about 16 % of all employees work in trade business, and more than a quarter of business entities are registered in this sector. Therefore the trade has a significant share in Croatian GDP creation. Globalization is considered an important factor of economic development around the world. Through development of communication technology the world has become integrated into the "global village" and a business contact itself can be accomplished in a matter of minutes. The effects of globalization on retailing in Croatia are mostly reflected in the introduction of new retailing forms, development of e-commerce, consumer protection, the introduction of space management, changes in consumer habits and the arrival of multinational trading companies on the market of Croatia. In this way, the Croatian market has become a part of a single system. Globalization has a negative effect on trade in the Republic of Croatia too, because the domestic production and retail sales of small neighborhood stores are threatened in this way. Retailing in Croatia should make an attempt to adapt to the global trends in the world and to new changes taking into account the domestic production by the principle of comparative advantage. [ABSTRACT FROM AUTHOR]

Local economic development and workforce initiative are continually evolving. There are no hard and fast rules or long-proven experiences upon which to draw. The job of the economic development planner and the work of the community in achieving sustainable economic development have become much harder because of the national and global crisis. [ABSTRACT FROM AUTHOR]

This article is mainly based on the most recent statistical data of the World Trade Organization and some aspects related to the evolution of world merchandise trade, in terms of volume and value, in 2015. The volume of world merchandise trade continued to grow slowly in 2015 while the dollar value of it declined sharply as exports fell 14 per cent to US$ 16 trillion, down from US$ 19 trillion in the previous year. It presents also the contribution of the volume change and of the change in unit values (which account for fluctuations in prices and exchange rates) to the value trade growth (in current dollar terms). The discrepancy between trade growth in 2015 in terms of volume and value was mostly attributable to swings in commodity prices and exchange rates The course of economic globalization is also shortly looked on based on some data and considerations of Credit Suisse analysts. Three different scenarios were taken into account in this respect. First one in which globalization continues in the form we know it over the past thirty years, second one in which a multipolar world is a better representation of the state of affairs and third, a scenario in which globalization ends due to the rise of anti-globalization political movements. The second scenario seems to provide a better reflection of reality today, despite the fact that a certain slowdown is observable when taking into account the diminishing growth rate of physical trade, the slower penetration of foreign assets of the developed market companies and signs of reshoring of some business back home. Globalization remains intact in terms of consumption and marketing patterns, while companies seem more reluctant to invest abroad. [ABSTRACT FROM AUTHOR]

The Republic of Kazakhstan is rich in natural deposits, and has been recently opened to the global market, after the breakdown of the Soviet Union. Today, these factors made Kazakhstani economy highly dependable on export of raw materials. Dynamic development of the country goes through many changes and in order to sustain the economic development Kazakhstani strategy is focused on shifting from a resource-based economy towards free market economy. Being a non-trivial goal to achieve, this involves diversification of the economy, fostering of innovation, development of management and most importantly, attraction of foreign direct investments into the economy. The purpose of this article is to raise awareness of major aspects of Kazakhstani management culture. To succeed in a highly competitive global environment of foreign companies establishing in Kazakhstan, one should be aware of how to deal with the market, how to deal with people, how to cope with cross-cultural differences. Based on the literature review about culture, this article is using the theoretical constructs developed by well-known researchers (Hofstede, Hall, House, etc.). Additionally, the empirical study component of this work is based on a qualitative research method and introduces a case study of a mining company in Kazakhstan. Cultural aspects have a lot of implications on management and governance. Specifically, decision making, bureaucracy level and configuration of the company, power centralization, formalization in the work setting, etc. The explanation of the Kazakhstani management culture is based on the observations and interviews from local managers of the mining company. It was found that there is a significant difference in mentality and professional approaches observed in management which used to practise in times of the Soviet Union and younger generations, whose carrier started during the times of independent Kazakhstan. The findings of this article indicate that the company of the industrial visit has a Western orientation in terms of its organizational practices and style of management. [ABSTRACT FROM AUTHOR]

The paper presents the results of research in the field of treasury management in the context of the globalized economics of the 21st century. The relevance of the integration of treasury management into the system of strategic and operative corporate management is currently due to the necessity of securing a long-lasting and sustainable financial position and company performance in the environments of the rugged national and international markets, as well as by new opportunities and situations on the financial and non-financial markets. Based on the results of the qualitative research, the structure, content, function and use of treasury management were defined, analysed and assessed, with a specific focus on cash management and company liquidity. The quantitative research proved that the use of methods and tools for treasury management (for example, inter-company banking and cash pooling) bring added value to the company in the form of cost savings and improvements in the financial situation and corporate performance. The target of the study is to observe treasury management and cash management and point out the advantages of cash pooling used in company. The integration and use of the methods and tools of treasury management in the company management system represent an effective direction towards the improvement of strategic and operative management processes in the economic, technical, environmental and social conditions of the 21st century. Structure of the case study is divided into the section theoretical, where the methodology and goals, treasury and cash management are observed and into the case study, where is the cash pooling used and non used example presented and after all the results are discussed. [ABSTRACT FROM AUTHOR]

Today we have to solve many global development problems often termed as Grand Challenges aiming at enhancing livelihood processes for achieving better economic, social and environmental outcomes. Increasing take-up of Smartphones and the resulting digitally connected society has opened up new possibilities to address these challenges. To better understand how this connectivity can be effectively used to enhance outcomes a project was initiated to develop a Mobile Based Information System (MBIS) for farmers in Sri Lanka. The aim was to provide farmers and other stakeholders in the agriculture domain with context specific actionable information to make optimal decisions. The term actionable information refers to such information that will enable a stakeholder to act with least amount of further processing. The research challenge was to discover a way to generate context specific actionable information to support decision making throughout all stages of a farming cycle in a way to empower users. To initiate the information flow published knowledge relevant to the domain activities were disaggregated and reorganised into an ontological knowledgebase to provide context specific actionable information. A system was devised for users to act on this information generating transaction data which in turn was aggregated or disaggregated to provide new actionable information. This mechanism will keep the information flowing in the system similar to biological ecosystems. Thus MBIS evolved into a Digital Knowledge Ecosystem. Since its deployment we observed many new major stakeholder groups joining the system confirming the correctness of the ecosystem design. It was found the evolved Digital Knowledge Ecosystem architecture and the approach to develop the system is very generic and can be applied to other domains such as healthcare and business to enhance information flow among key stakeholders, thus empowering the users. [ABSTRACT FROM AUTHOR]

Tourism plays an important and constantly increasing role in social and economic development on a global level. As a result of its popularity, mainstream tourist destinations are becoming overcrowded and cause increasing number of tourists to look for alternative, less populated and more peaceful destinations. Rural households present increasingly popular alternative to the more common, crowded destinations due to their peacefulness, idyllic environment and their unique ability to present costumers with local customs and food. The success of agrotourism depends not only on the quality of presented service, but also on the quality its presentation and marketing both of which present the crucial part of a successful business. Vast and still rapidly growing number of internet users makes e-business invaluable tool for attracting potential costumers and providing them with relevant information. In this paper we strive to find out how and in which extent is used in Croatia and Slovenia. In addition, we systematically explored the elements which determine its success. Here we present the data gathered on 70 Croatian and 31 Slovenian Web sites in the period of 15th of June till 10th of July 2015. The success of agrotourism depends on many factors but the most important factor is to be one step ahead of the competition. So agrotourism who invest efforts and resources and strive to be one step ahead will survive on the market. The ones who think that a good position, delicious food and great capacities are sufficient for survival have to understand that's not enough. After a good business organization and reliability of agrotourism, follows the presentation on the market and investing in marketing. Otherwise, how could they gain new visitors and retain old ones? [ABSTRACT FROM AUTHOR]

According to the IMF's analyses for 2014, China has become the most powerful economic force in the world. After 142 years, China has overtaken the USA, but since the beginning of 2016, China has been stagnating and become a burden on the global economy. This development will cause severe global consequences and decline of the US economic power. Americans need to realize that the competition with China, will be about using economic policy as an effective tool of statecraft. The "pivot to Asia" has been a centerpiece of U.S. foreign policy. The biggest trade pact China is negotiating is the Regional Comprehensive Economic Partnership (RCEP), which was launched in 2012 and this, China's version of a trade deal, is not a threat to the TPP. Trans-Pacific Partnership (TPP) is a Chinese free-trade initiative in Asia and the Pacific region and it should give the United States an incentive to get its own free-trade act together. If China and its trading partners liberalize trade in the way they are doing, that is great for them, and ultimately for Americans, too. The resulting economic growth will give the United States more prosperous markets to trade with. [ABSTRACT FROM AUTHOR]

Intellectual Capital (IC) has been identified as one of the most important factors in driving economic growth. Rapid globalization characterized by advances in technology, research and development and increasing competition has been essentially driven by growth in IC. The purpose of this work is to study how components of intellectual capital affect business results. The study derived a measurement model from three streams of literature (absorptive capability, intellectual capital and dynamic capabilities). The analysis is conducted on the large Global Manufacturing Research Group database (GMRG) V taken place in 2012, comprising 1089 companies. The proposed model is proven robust. [ABSTRACT FROM AUTHOR]

In the study are treated the some of problems of SME, managing of Kosovo SME in conditions of modern economy and challenges which are these enterprises going through now. Economic globalism is part of the environment in fast change by which are facing businesses that are not bordered only by national borders but they are facing with harsh international competition. The essence of successful managing is that managing should be more flexible in facing with changeable and unsecure environment. Some of the difficulties for Kosovo SME are considered not favourable customs and fiscal politics (especially for new enterprises), high informality, not loyal competition, etc. Overcoming of difficulties and development of SME is being reached with: increasing of the level of qualification of workforce; with supporting of businesses with tradition and producing economy; with creation of general valuable political climate for supporting of SME etc. [ABSTRACT FROM AUTHOR]

The paper describes an attempt at an acceptable explanation of six major changes in the company's environment (political, technological, economic, financial, social and environmental) on the manifestation of the risks of investment projects, with an emphasis on their appearance in the time of (de)globalization. The main reason for this is the obvious fact that the model globalization, which was the basic pattern of growth and development of companies in the largest number of countries during the last thirty years, is disappearing in many of its postulates. More precisely, the globalization model began to collapse in 2008. with the manifestation of the financial crisis, and continued to weaken with the emergence of the pandemic crisis caused by Covid19. And it was especially strongly weakened by the current war in Ukraine that began in February 2022 and is still ongoing. The reorganization of the world political and economic order was accompanied by the establishment of numerous trade restrictions, the interruption of trade supply chains, the suspension of cooperative relations, which is in complete contrast to the dominant features of business operations in the years of the rise of globalization. These events are inevitably in the function of manifesting qualitatively new risks that the fundamental change in the environment brings to the company and its investment projects compared to the decades-old period. Moreover, the functioning of the world economy in today's conditions is characterized by increasing differences and decreasing agreement and common values of the environment in which modern companies operate. [ABSTRACT FROM AUTHOR]

Objective. This paper evaluates the extent to which economic affluence, ecological degradation, integration into the world polity, and economic globalization each contributes to the change in environmental concern in 82 countries across 7 years. Method. Using multivariate panel regression, I have analyzed a combined dataset of 4 waves World Values Surveys and 3 waves of surveys from International Social Survey Program. Results. Findings reveal that the exposure to ecological degradation is positively related with the growing environmental concern, whereas economic affluence has a negative association. In addition, integration into the world polity does not affect environmental concern and the two indicators of economic globalization have mixed impact. Conclusion. This study demonstrates that the potential influential factors have different influence over public environmental concern. Thus, a parsimonious explanation is inadequate since there is no universalistic factor that can account for all variations in environmental concern. [ABSTRACT FROM AUTHOR]

Evidently, over the past three decades, China's economy has been growing at a phenomenal pace fueled primarily by foreign investment. Based on an economics perspective, it refers to liberalizing the economy, introducing markets to replace the Soviet-style central planning system, importing foreign capital and technology, and relying heavily on exports. However, people-based global ties provide a primary angle as a sociological approach to analyze local transformation implicitly and explicitly in the background of Chinese globalizing. From a relational perspective, the new China Model refers to its extended global ties and vast transnational practice in its huge size of population, featured returned overseas Chinese students made a contribution to his country, absorbed talents from abroad, and ethnic Chinese and oversea Chinese descent played significant roles, etc. it is important to study micro globalization as it is embedded in massive people-based global ties. Understanding intensifying ties among people cross-border and its impact on local society goes a long way toward defining up some important dimensions of globalization. The author uses his recently published book "Chinese Globalization" to analyze how different types of people-based global ties, such as: "have been working in foreign firm", "have been abroad", "have relatives oversea", and "often surf foreign web sites" may make a difference and constitute certain outcomes at local in specific and impact worldwide in general. The outcome seems concluding that global ties are capable of facilitating local transformation across different spatial, economic, and cultural settings. [ABSTRACT FROM AUTHOR]

International trade is one of the most important parts of economic integration and globalization. Thus it is crucial to study the development of international trade relationships in order to follow and understand every score and reasons behind it. In this article, multidimensional scaling analysis is performed in order to investigate the evolution of international trade relationships in the EU countries in 1996-2012. The results show that the evolution of trade relationships among EU countries is not entirely homogeneous. Different country groups arise regarding different variables, such as geographical location or being former members of the same economic or political union. [ABSTRACT FROM AUTHOR]

International healthcare service is a lucrative business that adds value to the national economy of the participating countries. Currently most of the international medical services are within the region. By participating in the international healthcare industry, the destination countries have opportunity to increase their national economic growth and job opportunities. Malaysia, as emerging healthcare provider among the developing countries in Southeast Asia region is also reforming its national economy through the Healthcare New Key Economic Area (NKEA) initiated under the Malaysian government's Economic Transforming Program (ETP). Keeping this in mind, there is need to understand factors that contribute to these patients' satisfaction and revisit intention in future when medical treatment is needed. Smart PLS was used to evaluate hypotheses of this study. Medical care and ethical conduct have significant influence on patients' satisfaction. The theoretical contribution explains enrichment of Disconfirmation Theory. The practical implications suggest that the policy makers and the management of the hospitals need to focus on the core services and support services provided to the patients in an ethical manner. [ABSTRACT FROM AUTHOR]

It is especially true from the background of economic globalization, that the better an economy develops, the more important its accounting becomes. The accounting culture has functions of guidance, cohesion, motivation, discipline, education and others which can effectively promote the development of accounting work. Qinhan Lao, a well-known scholar of accounting in China, points out that the deepest motivation in the development of accounting culture is the needs of accountants. And according to Maslow's hierarchy of needs, the accountants have different levels of needs. Therefore, this article illustrates how to build accounting culture from four aspects including, material, institution, behavior and spirit in a demand-oriented condition, in a bid to adapt to economic globalization. [ABSTRACT FROM AUTHOR]

Under the influence of economic globalization, more and more big cities are showing a mode of high density and centralized development .But at the same time, some cities only pursue the height of the building but ignore the relationship with the underground space. And because the ground space is very crowded, several urban issues appeared traffic congestion, lack of landscape greening, serious environmental pollution, lack of human space etc. And scientific and rational development and utilization of urban underground space will be a strong support for eliminating or easing the tension of urban land space, upgrading the space environment on the ground.This paper, taking Perth CBD as an example, discuss how to develop and make use of the underground space of the city and how to develop closely combined with the rail transit, so as to optimize the space environment of urban high density area, establish compact, three-dimensional, high efficiency urban space system. [ABSTRACT FROM AUTHOR]

Globalization of the economy has revived the interest on the theme of internationalization of companies. There may be several motives for a company to expand its markets, but whatever they are, the success of the process depends on specific and characteristic assets that the company possesses and on their capacity to provide competitive muscle. Among other strategic choices, the development of innovation capabilities is a possible path to provide the firm with knowledge and organizational assets that confer it a competitive edge. Knowledge assets are increasingly important in an interconnected and open world market, where traditional localized competitive factors, such as low labour costs, are rapidly losing appeal as drivers of sustainable and continued value creation. In a highly competitive international market, innovation and internationalization seem to be themes that are intrinsically related to each other, in the sense that knowledge and innovation capabilities seem to be a necessary prerequisite to an internationalization process. However, per se, innovation capabilities, and the assets behind it, may not be enough to a successful endeavour. In the absence of privileged, localized knowledge of the national market, strategic considerations are of paramount importance to the internationalization process. Strategic actions are important, not only at the planning stage but also at the implementation stage. It is argued in this paper that these aspects, knowledge, innovation and strategy, are crucial to understand actual internationalization processes and dynamics. This paper intends to examine the above concepts and the links between these factors and their effects on business performance and competitiveness and comprehend internationalization processes. It provides a comprehensive review on the literature regarding the possible connections between the three concepts and it identifies the main ideas and variables that have been suggested and are being regarded. It provides a useful synthesis and it suggests future research paths. [ABSTRACT FROM AUTHOR]

The addressing to rural areas, coupled with the identification of indicators characterizing the degree of resource endowment, derives both from the size of the rural area and also from the share of employment in productive activities of social and cultural services, habitat, etc. Although the problem can be considered just as far as perennial agricultural activity, subject of much discussion and debate, rural development acquires new meanings in the context of the apparent trend of economic globalization. In this regard, it has become urgent the structural adjustment both economically and socially, on the background of higher migration flows from rural to urban areas and the increasing impoverishment of the rural population. From the methodological point of view, the current approach is based on public statistical information, using established statistical methods for processing, such comparisons, structures; mainly the results are presented in tabular form. The support information to the development of this approach was based on data provided mainly by the National Institute of Statistics, the Tempo-Online database. Given that public information at the regional level are limited in terms of accessibility and the release time during this process were also used data from the European statistics by Eurostat database. [ABSTRACT FROM AUTHOR]

The retrospective of the theoretical approaches of the phenomenon of economic globalization in the last three decades emphasizes the movement of attention from the globalization of markets, from the'80s, to the globalization of production and services in the current decade. This trend is essentially the result of implementing new strategies by multinational and transnational companies. We try in this context to draw a line between the "globalization of markets" and the "globalization of production and services". A feature of the globalization of production and services is the implementation of the arbitrage strategy in respect of one or more production factors. But the "globalization of production and services' gains a new content due to the new possibilities offered by the "modularization" of production. Following, the arbitrage strategies began to address new factors, as for example the "functions" of production resulting from the restructuring of the product value chain. [ABSTRACT FROM AUTHOR]

The path undertaken by the world economy is irreversible - the world economic system is a system based on interdependencies, cooperation and multilateralism but economic openness is not full. Each country, in order to protect their national interest call, in different proportion, depending on the circumstances and of the economic-social and political interests, for different forms of the economic nationalism, forms that have adapted continuously to the demands required for integrating on the foreign markets. The recent global economic crisis intensified the rhetoric and the economic nationalism's practices but it is not about rebirth, but of renewal, of remodeling the nationalist policies, globalization being a premise of the new economic nationalism. The scope of this paper is to emphasize using empirical data the fact that nationalism and globalization, from an economical point of view, are not antagonistic policies, they coexist and influence each other, both generating contradictory effects, in terms of provided opportunities and risks. [ABSTRACT FROM AUTHOR]

Economic globalization, rapid advances in conceptual science and technology, global trend to outputbased programs, the amendments to the classical engineering education program makes it a necessity. The students who completed their education program despite having theoretically adequate, work experience is very limited.In order to give our graduates a little work experience, a course called "Industrial Application" was added to curriculum of the Industrial Engineering Department of the OndokuzMayis University. This course is actually a training program for selected senior students, who work 3 days/week in actually selected workplaces within the scope of this course. In this study, we have evaluated academically the contribution and implementation of this program for both students and companies. The results indicated that the program is very useful and acceptable for students and companies. "Yes" rate of most of the questions is above 75%. This study also showed us that the current engineering practices should be integrated into our curriculum. One another findings of this study is that the decision making capacity of our students is not enough. [ABSTRACT FROM AUTHOR]

The profound mutations, the extent and virulence of financial and economic turmoil that are characteristic for the beginning of the new millennium cannot be understood without placing them in the transformations of contemporary capitalism, without taking into account the historical and intellectual context in which they were conducted, and the debates on system performance of the market economy. The end of the twentieth - century was represented of the free market fundamentalism in which economists preached the virtues of deregulation, financial market efficiency and innovation benefits. During this period, the world economy experienced sustained growth period but discontinued by the economic and financial crisis that caused devastation in the financial sector and the real economy. The perception in the rise of the frequency of crises is real. Moving from exuberance and euphoria to collapse and pessimism, uncertainty and economic instability are recurrent features of the world economy. Globalization and capitalism dominated and transformed by finance offers new territory, unknown by the orthodox economic theory. This theory cannot explain the emergence of new crises and cannot offer adequate solutions. The observation of the failure of the orthodox economics science must be accompanied by the intensification of the debate that will lead to the promotion of new ideas and economic theories based on a critical perception of the "truths" combined with the free market ideology based on narrow and prefabricated concepts. Based on these findings and demands, during this article we aim to offer a new perspective on crises that are brought to the forefront of economic research and lead to mutations and reassessment of the policy and ideas. As a result of the current global crisis, economics (both theoretical and political) will change, like the economy itself. [ABSTRACT FROM AUTHOR]

The article discusses the trade policy, industrial specialization, and innovation that brought industrial changes in Guanajuato, Mexico. The globalization manufacturing which is concentrated in two industries, they are the footwear and food or traditional type and the modern type is transportation manufacturing. It mentioned the foreign direct investment (FDI) in the modern type and the industrial policy impact in the industrial development and innovative environment of the region.

The processes of globalization and integration observed not only in Europe have significantly changed the conditions of functioning of the teritorial units. One of the factors, which determines the socio-economic changes is the condition and quality of infrastructure. This is what determines the appropriate level of infrastructure to meet the needs of operators and individual units. This allows for efficient and effective execution of logistic tasks. The aim of the study is to present regional disparities of development in infrastructure between 2004 and 2012. The study of spatial differentiation potential of the logistics of territorial units used in local and global statistics and Moran. [ABSTRACT FROM AUTHOR]

The given study is disclosing the theoretical and methodological aspects of the impact of globalization processes on the nature of the development and dynamics of domestic trade. The relevance of this problem is determined by the lack of fundamental research in this area. It is determining scientifically the directions and trends of the globalization impact on the system of internal trade. [ABSTRACT FROM AUTHOR]