Problems and Perspectives in Management

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ISSN / EISSN : 17277051 / 18105467
Current Publisher: LLC CPC Business Perspectives (10.21511)
Total articles ≅ 711
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Vainius Smalskys, Nataliia Gavkalova, Kristina Babenko, Alona Zolenko
Problems and Perspectives in Management, Volume 18, pp 340-349; doi:10.21511/ppm.18(2).2020.28

Abstract:
The strategic approach to sustainable territorial development precisely assesses all regional disparities. Implementing this approach allows considering the interests and requirements of all stakeholders and identifying priority areas for regional development. A detailed analysis of existing regional development strategies and programs confirms the active region interaction with numerous organizations, groups, and individuals. The growing role of stakeholders in shaping regional policy determines the necessity of the research. Proposed conceptual approach will contribute determining the stakeholders’ interaction effectiveness in ensuring sustainable territorial development. Algorithm for analyzing the stakeholders’ interaction effectiveness was worked out based upon critical analysis of the scientific professionals’ main approaches of identifying and comparing the interests of stakeholders’ sectoral and territorial groups in the context of solving the region existing problems. A feature of the proposed measure scheme of the stakeholder interaction efficiency is the synthesis of quantitative and qualitative assessment of the stakeholder interaction effectiveness using the method of expert assessments, statistical analysis, and fuzzy sets. The practical part of the developed approach to determining the effectiveness of stakeholder interaction allowed to assess the level of regional development programs implementation in the Kharkiv region and to identify the synergistic effect of stakeholder interaction. The made conclusions and recommendations regarding the solution of region existing problems have found practical application in predicting scenarios for the territory development.
Adesola Victoria Adebayo, Kehinde Damilola Ilesanmi
Problems and Perspectives in Management, Volume 18, pp 329-339; doi:10.21511/ppm.18(2).2020.27

Abstract:
Despite concerted efforts made by successive government administrations in Nigeria to eliminate or better still minimize the menace of fraud, embezzlement, misappropriation of funds, inflation of contract prices, payment of salaries to ghost workers etc., it seems as if the challenge is far from being over. It is believed that the implementation of effective and efficient financial control systems may result in better performance, accountability, and better reporting process in the public sector. This study aims to assess the effectiveness of financial control in the public sector of Nigeria using Akoko South-West Local Government Area (ASWLGA) as a case study. The study employed both descriptive and econometric analytical methods to achieve the stated objectives. Specifically, the hypotheses were tested using regression analysis based on the primary data collected. The study revealed that the level of financial control in ASWLGA is adequate and capable of reducing financial misappropriation and that financial control is also cost-effective. However, there is a need for regular review of the financial control system in order to boost the effectiveness of the public sector.
Khalil Al-Hyari
Problems and Perspectives in Management, Volume 18, pp 302-315; doi:10.21511/ppm.18(2).2020.25

Abstract:
Maximizing customer value and minimizing waste have become the heart of the formulation of SMEs in the manufacturing sector of Jordan to survive in the new global marketplace. Therefore, lean manufacturing philosophy is used in SMEs to improve performance regarding quality, delivery, and costs to become efficiently competitive, thus accomplishing sustainable economic growth. The current study was designed to analyze the extent to which lean management bundles are adopted by SMEs manufacturing organizations in Jordan and the effect on their performance. Data were collected from 278 manufacturing SMEs in Jordan based on a structured questionnaire. The theoretical relationships were examined using structural equation modeling. The results show that Total Quality Management (TQM) and Human Resources Management (HRM) lean bundles are positively associated with manufacturing SMEs’ performance. The outcomes of this study may be considered as incentives for other practitioners and entrepreneurs of SMEs when implementing lean bundles by acknowledging the positive effect on their performance. Moreover, the findings of this study could be used in an internal checklist before and during the implementation of Lean Manufacturing (LM).
Tomas Dudas, Rastislav Rajnoha
Problems and Perspectives in Management, Volume 18, pp 316-328; doi:10.21511/ppm.18(2).2020.26

Abstract:
This paper aims to examine the trends of Chinese high-tech acquisitions in the EU countries, describe the policies that these acquisitions prompted on the level of member states and the EU, and analyze the effects of these policy responses. The results of the research review clearly show an increasing number of takeovers of European companies in the high-tech sectors, especially in the big member states such as Germany, France, or the UK. This created a backlash from the European policymakers that led to an introduction of tighter screening regimes in many EU member states and the creation of a common EU framework for FDI screening and its strategic management. At this point, it is hard to evaluate the complete effect of this new framework, but it must be concluded that 82 percent of the Chinese strategic acquisitions made in 2018 would fall under at least one criterion of the new EU framework. The findings of this paper provide sound recommendations for the EU countries and their public authorities targeting to control Chinese outward foreign direct investment (OFDI) and limit the acquisition of local companies in sensitive industries. On the other hand, the coming recession may put at least a temporary halt on Chinese acquisitions of the European companies. Acknowledgment This paper is the partial result of the GAAA – Grantová agentura Akademické alliance grant project No. GA/6/2019 – Strategic Performance Management of Companies and Multinational Corporations in the Context of Globalization and Sustainability.
Ok.Mohammad Fajar Ikhsan, Rabiul Islam, Kamarul Azman Khamis, Ariroza Sunjay
Problems and Perspectives in Management, Volume 18, pp 290-301; doi:10.21511/ppm.18(2).2020.24

Abstract:
The change of trends in the global industrial revolution has impacted various advances in the economic and industrial system until the realization of a liberalization system and capitalization of the global economy. This study aims to examine the impact of the liberalization and capitalization of the digital economy on the middle class, working class, and lower class societies in one of the developing countries in the Southeast Asian region, Indonesia. The methodology used in this study is a descriptive qualitative analysis approach, based on data obtained from official sources and literature studies. The class disparity between the capital owner class, middle class and working-lower class, poverty, and forms of social inequality in the structure of society is increasingly apparent. At present, the emergence of an era known as the Industrial Revolution 4.0 led to the change of social and economic trends towards more advanced systems. This study assumed the changes in the patterns and forms of economic liberalization and capitalization that were previously implemented traditionally towards digital system through opening new online markets platform. The study also argues that the Industrial Revolution 4.0 differently impacted the middle class, working class, and lower class society in developing countries, particularly Indonesia.
Dana Kiselakova, Beata Sofrankova, Erika Onuferova, Veronika Cabinova
Problems and Perspectives in Management, Volume 18, pp 277-289; doi:10.21511/ppm.18(2).2020.23

Abstract:
Innovations play an inevitable role in achieving macroeconomic growth of countries, and innovative activity is perceived as a source of sustainable development. This paper’s main objective is to explore the impact of innovation determinants on the macroeconomic development of the EU (28) member countries and identify key problem areas distorting sustainable development and growth of these countries. The research analysis is performed using panel data regression models estimated from 2010 to 2018. Innovation potential was quantified using selected indicators, such as patent granted, high-tech exports, gross domestic expenditures on R&D, government expenditure on education, direct investment, gross fixed capital, and tertiary educational attainment. Such indicators as real GDP per capita and GNI per capita were applied to measure economic growth. The results provide evidence of a statistically significant relationship between innovation and economic growth (p < 0.01). Therefore, both research hypotheses were accepted. Based on innovation potential assessment, the statistically significant impact of five indicators were confirmed (high-tech exports, gross domestic expenditure on R&D, government expenditure on education, direct investment, and tertiary educational attainment). In this backdrop, the most significant effect was revealed for variable gross domestic expenditure on R&D (0.5343). The findings lead to the conclusion that the EU’s and national innovation policies and initiatives should aim to create framework conditions that favor the innovation environment and increase R&D expenditure to endorse real economic growth. AcknowledgmentThis article has been prepared within the research project VEGA No. 1/0279/19 “Model approaches to increase performance and competitiveness in the European area in the context of sustainable development”.
Stamatios Ntanos, Georgios Sidiropoulos, Evangelia Triantafyllou, Miltiadis Chalikias, Grigorios L. Kyriakopoulos
Problems and Perspectives in Management, Volume 18, pp 261-276; doi:10.21511/ppm.18(2).2020.22

Abstract:
This study investigated the structure of employees’ remuneration and rewards systems, focusing on medium- and large-sized firms in the region of Attica in Greece during the economic crisis. Data were collected using a structured questionnaire based on relevant literature. A sample of 150 companies filled out a total of 500 questionnaires. The results revealed that medium- and large-sized companies applied various remuneration systems, including the base wage, performance-related bonuses, and a combination of additional non-wage benefits. Greek firms did not avoid wage cut in times of low turnover, although hypotheses testing revealed no relationship between firm size and the use of flexible remuneration systems. However, a positive relationship between the unions’ engagement and the use of non-wage cutting strategies was confirmed. Furthermore, a positive correlation between wage rigidity, labor market legislation, and collective agreements for setting minimum wage levels was found. Finally, a hypothesis test regarding the association between the firm, the business sector, and wages cut over the last seven years was accepted. The study concludes that wages cut should be the final choice by firms since remuneration is a source to satisfy, engage, and attract employees.
Alex Plastun, Inna Makarenko, Lyudmila Khomutenko, Oksana Osetrova, Pavlo Shcherbakov
Problems and Perspectives in Management, Volume 18, pp 231-245; doi:10.21511/ppm.18(2).2020.20

Abstract:
This paper explores the influence of the ESG disclosure regulation (government corporate ESG disclosure and non-government corporate ESG disclosure) on the ranking in 50 largest economies. Applying various statistical methods and techniques, including both parametrical (Student’s t-test, ANOVA analysis) and non-parametrical (Mann-Whitney U test) tests, simple average analysis, OLS with dummy variables method and multiple linear regression analysis, as well as correlation analysis and Granger causality test, several hypotheses are tested. The hypotheses stipulate whether or not ESG disclosure regulation differs in developed and emerging countries and whether or not ESG disclosure regulation influences the country’s SDGI ranking, as well as the ranking of the country among 50 largest economies. According to the results, the differences in ESG disclosure regulation are statistically significant in developed and emerging countries. The level of ESG disclosure compliance is higher in developed countries. ESG disclosure regulation influences the position of the country in SDGI and 50 largest economies rankings. The more country complies with ESG disclosure criteria, the better position in rankings is. Incorporation of ESG criteria is an important evolutionary step in economic development of the country. It allows increasing position of the country in 50 largest economies and SDGI ranking. Thus, ESG disclosure regulation is vital for the development of the country in the modern world. AcknowledgmentComments from the Editor and anonymous referees have been gratefully acknowledged. Alex Plastun gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0117U003936). Inna Makarenko gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0117U003933).
Kateryna Romenska, Victor Chentsov, Oleksandr Rozhko, Vitaliy Uspalenko
Problems and Perspectives in Management, Volume 18, pp 246-260; doi:10.21511/ppm.18(2).2020.21

Abstract:
The transition to future-oriented medium-term budget planning has been an important innovation in the budget process of Ukraine. Since then, the main budget indicators are calculated for the next three years with a forecast that allows for systemic reforms in several areas. This paper aims to identify problems of implementing budget planning for generating an envisaged and balanced budget in conjunction with the priorities of the state. The current status of budget planning and budget performance is analyzed by reviewing budget legislation, budget reporting, information-analytical and presentation data of state authorities and local governments, the experience of developed countries that have achieved some success in medium-term budget planning in terms of income and spending. The paper also reveals the features and advantages of medium-term budget planning based on the result; explores the approaches to transparent, effective, and high-quality use of budget funds with a limited potential of the state to increase tax revenues. The implementation of budget planning is due to the need for further development of the budget process in Ukraine towards increasing predictability, transparency, stabilizing the budget in the medium term, and solving important problems of efficient and high-quality use of budget funds for economic and social recovery.
Nenad Vretenar, Jelena Jardas Antonić, Matea Gulam
Problems and Perspectives in Management, Volume 18, pp 219-230; doi:10.21511/ppm.18(2).2020.19

Abstract:
Civil society is positioned somewhere in the area between business, government, and private sector. As civil society organizations are not profit-oriented, they are often relying on the engagement of volunteers, i.e., workers who are not paid for their effort. Successful management of human resources in organizations that depends on volunteers’ work can prove even harder than managing employees’ work in business entities. Many factors influence someone’s work effort, productivity, and devotion far beyond technical conditions, so it is impossible to separate someone’s work from the rest of his/her personality traits. In civil society organizations, attracting, motivating, and keeping volunteers willing to conduct needed tasks and actively participate in the organization’s activities might be quite challenging. For this paper, a survey was conducted among 42 organizations of civil society units (CSUs) that use the help of volunteers to fulfill their activities. To analyze relative efficiency of the civil society units, appropriate input and output variables were selected, and analysis was conducted with non-parametric DEA method. It was decided to take 4 inputs and 2 outputs in the analysis. The obtained results show that 69% of 42 CSUs are relatively efficient, 31% relatively inefficient, and 26.19% below the average. The results of the analysis enabled the identification of efficient and inefficient units. The reference set was calculated for each inefficient unit to determine which inputs cause better performance output. The calculated projections can be useful to CSU’s managers and serve as a benchmark for detecting the source of inefficiency within their humanitarian organizations. They can also serve as guidelines for improving inputs and thus achieving higher levels of outputs, i.e., duration of volunteering and the number of volunteers. AcknowledgmentThis paper is financially supported through project ZP UNIRI 10/17 by the University of Rijeka.
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