The quality of accounting services is a set of dynamic characteristics, as the demands of modern technology impose the permanent creation and realization of new modern “products” with superior traits and performance on the delivery process. The evaluation of the quality of accounting services implies the appraisal of the final result, as well as of the actual delivery of the service; practically, the quality of the service cannot be separated from the activity of providing it. Today, the difference between an average service and a high quality one is given by the efficiency with which the people from the provider’s team work together and the systems through which they deliver the service. The relationship between entrepreneurs and accountants is inevitable, as accounting is a mandatory activity by law, but also a useful one. Providing high quality accounting services depends on the manner in which the provider and the beneficiary interact
Leadership is undeniably a major factor in today’s highly competitive business environment where the organizations thrive to create and sustain competitive edge over their rivals. In order to do that, motivating and leading the human capital within the organizations stand out as important remedies that can cure other shortcomings of an organization and help to build employee involvement that cannot easily be imitated by the competitors. In that regard, contemporary leadership has a significant role whereby it may energize the dormant potential in the organization, offer creative solutions, deal with the problems of turbulent times, and deliver these in such a way that is unique and very difficult to replicate. Thus, modern day management relies more on the human factor of organizations which can only be managed through effective leadership. In today’s global business environment, almost all resources, except for the human resources, can be imitated to a certain extent. In other words, leadership style that nurtures and cultivates the human capital of an organization in the right way may be a source of sustainable competitiveness that will be too difficult for the competitors to replicate. This study aims to provide an overview of the major leadership styles that organizations may find useful for their specific needs. By providing such an overview, it is hoped that researchers and practitioners alike benefit from these perspectives and have a chance to shed light on their current problems and future objectives
This paper illustrates the impact of education and digital technology adoption within the local community in Nagaoka (Japan) while proposing a business model focused on an increase in the creation of social value based on services, as opposed to incumbent models based on increasing the manufacturing and selling of physical products. The authors analyze the supply chains network common to local businesses to help them establish an active exchange of waste and bi-products for a more effective recycling and a more sustainable remanufacturing system. By taking into consideration all 17 of the United Nations’ Global Sustainable Goals (SDGs), this research work individually on the achievement of Goal 12 (Responsible production and consumption) on the one side, to establish the essential steps for a more viable resource-based circular economic model, with an application on manufacturing businesses, from the other hands, to create a sustainable, waste-free, closed-loop supply chain system in rural Japan. The methodological and conceptual-theoretical and practical architecture of this analysis is built to provide insights on the current state of affairs regarding essential resources. The focus is naturally on a centralized system for collecting and analyzing data on the availability of global resources (both raw and recyclable) to help small/medium enterprises and public organizations make more sustainable decisions.
Egypt is an emerging economy facing immense economic as well as social challenges. The 102 million population count can either pose a heavy load to a country struggling to rise to its potential or can offer a workforce capable of economic growth and hence prosperity. It is crucial to realize that by ignoring half of the potential workforce we are forgoing half of the human capital diminishing –therefore- both economic growth and economic development. Despite the extensive arguments advocating women as a vital labor resource in the economy, women participation in economic activity in Egypt is still subdued relative to men. It is the aim of this paper to shed lite on the employment setting of women in the private sector of Egypt, the challenges they face in this sector and the vital role they play as supporters for their households despite the discussed challenges. Conclusions reveal that women in Egypt still lack social, economic, and legal tools needed to empower them in order to fulfill their vital role in the economy despite the fact that they are highly educated.
In this research we started from the analysis of the financial actors on the Romanian market, the values of the net assets and equity indicators were registered and, depending on these, the financial institutions were grouped. The software’s used were: Statistical Analysis System (Data Miner), SAS Enterprise Guide and Microsoft Office Excel 2019. Thus, financial institutions with foreign or state capital were aggregated in two main classes, depending on the performance indicators studied. Apart from this, two outliers were found which could not be attached to any class. Furthermore, a comparative analysis was performed over a period of 10 years (2009 - 2019) of these two outliers to study in detail why they could not be added to any found class
This paper analyses the effects of the sectoral growth and public expenditure on Tanzania’s tax revenue performance both in the short run and long run. The paramount importance is to provide policy mechanism that would help Tanzania raise tax revenue from different sectors of the economy as the requirements for financing service delivery increase and the demand for donors declines in the country. The autoregressive distributed lag (ARDL) bounds testing approach. For validity and reliability of the results, the assumptions of homoscedasticity, normality, serial correlations, and model stability were tested. Empirical results indicate that there is a strong positive relationship between tax revenue and main sectors of the economy namely, agriculture, industrial and services sectors in both short run and long run. Similarly, recurrent and development public expenditures, as well as trade openness tend to exert positive effects on tax revenue performance in the short run and long run. However, free trade is likely to lower tax revenue ratio. The uniqueness of this paper is that first, the paper develops a simple analytical model for tax revenue performance based on key sectors of the economy. Second, findings suggest policies to support the development of value added linkages between major sectors of the economy and government expenditures while emphasizing the need to open the potentially large contribution of sectors of the economy with the view to widen the tax base. Third, trade policies should be designed to factor in the ambiguous relationship between trade liberalization and international trade taxes. Further trade liberalization is likely to reduce total tax revenue because international trade taxes, which constitute large share of total tax revenue, decline in Tanzania
How do we define a crisis? Etymologically the word comes from the Greek and means: to decide, turning point. The crisis is the moment of truth, a line between the past and the present. The failure caused by the crisis makes the world, in two successive moments of time, no longer look alike. During the crisis, the changes are wide and deep. But there are difficult aspects of a scientific and empirical nature in: delimiting the duration of the crisis; in determining the economic aspects that are considered important and whose qualitative and quantitative evolution must be followed; and to determine the frequency of occurrence of these turning points so that the changes are not too superficial or an effect of gradual evolution. The moment of truth is a challenge. It creates a tension that requires adaptation, the old problem-solving techniques become useless. If new adaptation techniques are innovated and emerging, the crisis is over. But the line between success and failure is gray. Success can only be temporary and the crisis reappears. There are various ways in the literature to define a crisis depending on: frequency of occurrence, duration, magnitude, depth and impact. Some economists study rare and large-scale crises, other economists study frequent and small-scale crises. Most crises are the culmination of gradual changes. Tensions accumulate over long periods; they gain critical mass and are observed at that moment, followed by the reaction of decision makers and ordinary individuals to the pressures that gave the pot to boil. We will use the narrative argument in the article. A crisis is usually identified by the values of GDP over the next two quarters. Is the GDP indicator correct for tracking crises? It can be artificially increased through consumer loans. Are the values that this indicator takes for two quarters enough to characterize a crisis? In China, the symbol for crisis means: danger + opportunity.
Earning from the stock market investment is not an easy task for any investor. Due to high volatility, it is difficult to spot the correct time for entry and to make an exit from the stock market investment. Over a period of time, many investors and researchers have discovered few strategies to generate better return from the investment. One of the strategies is value investing. It refers to identify the potential stock for investment on the basis of price-to-equity (P/E) ratio. This paper is an attempt to verify appropriateness of value investing among the listed companies from construction and infrastructure sector in India. The data is collected for nine years from April 2011 to March 2020. The stocks are classified as value stock and growth stock on the basis of P/E ratio, P/B ratio. Total 648 monthly portfolios are created and monthly rebalancing is applied to compare the returns from value portfolios and growth portfolios. Risk adjusted returns are analyzed with the help of sharpe and trenyor ratio. The findings of the study are giving mixed results. The findings of the study are neither rejecting nor showing conclusive proof towards the presence of value investing in the sample data over a period of research. The probable reasons for failure of value investing are mentioned in the conclusion section of the paper. The paper is original work of the researcher and used new criteria of P/E ratio and PB ratio as weight to create the portfolio. The study will give deeper understanding about the investing pattern suitable in the stocks of construction and infrastructure sector companies in Indi
SMEs are drivers of economic growth and are situated of many years in the top European policy of sustainable development. SMEs are considered a key factor for employment and economic competitiveness. The 20 million SMEs in the EU represent 99% of businesses, and are a key driver for innovation, employment and social integration). In contrast to their contribution, SMEs are confronted with significant obstacles which impede their development. This paper aims at sorting out the perceived external vs internal barriers to SME exports and ways to achieve business growth.
The subject of colonialism, which is linked to a rather long stage in evolution of modern, but also pre-modern civilization, continues to arouse interest of entire scientific spectrum, manifesting more concept has become enriched with neo- and post- prefixes, being approached by a great variety of theorists and historians of theory of international relations (be they economists or political scientists, sociologists and anthropologists, moral or cultural result of radical change in balance of power, the former metropolises (Great Britain, France, Spain, Belgium) have left place of neo-colonialist entities. Such as United States of America and Soviet Union.” During this paper, an attempt will be made to explain extent to which characteristics of Russia's current international relations can be applied to partnership with former components of Soviet Union (USSR), which have declared their autonomy and are developing as independently as possible. Emphasis is placed on ways in which such political and military powers influence flow of things in neighbor states, either directly or indirectly, using both traditional and new practices. This Central Asia region has been centuries of confluence of geopolitical and geo-economic disputes between great powers. Things are no different at present, and what is different is balance between soft and hard diplomacy. The events that took place in past few years reopened dilemmas of a new type of neo-colonialism. What differ are forms in which this inclination is manifested for each of great powers. In this paper author seeks to answer some questions about Russia's neo-colonial orientation, these being: Does Central Asia fit within contemporary Russian foreign policy? Is there a coherent game plan of Moscow with clearcut objectives? How is Moscow going about its business? What are main outcomes of Russian behavior? What does future hold for Russia in Central Asia? The main assumption of author is that Central Asia is significant mainly as is it a pivot area to Russian self-perception as a still relevant global actor. In order to respond to these questions, there was a call for dynamic series of economic, technological, cultural and political data and information, aggregated on basis of phenomenological research. The main conclusions reached by author are: Russia lost its hegemonic position while these countries become assertive actors; prioritization of geopolitical aims over security objectives; there is no clear strategy but an entropic package of ad hoc arrangements; it is ambiguous dynamic balance between authoritarianism and sovereignty. The entirely process depend on new variables: turbulences in Russian domestic politics and economy; succession outcomes in few countries; future of relations of Russia with other global political and economic actors.
Drawing on the contingency theory, we investigated the relationship between the leadership style of owner-managers of small sawmills in the Sokoban Wood Village in Kumasi, Ghana. Based on 315 employees from 63 sawmills, we proposed that leadership styles of owner-managers influence employees’ performance. We also hypothesized that the age and experience of ownermanagers moderate the relationship between leadership styles of owner-managers and employees’performance. Using simple linear multiple and moderated multiple regressions to test the hypotheses, we found that autocratic, charismatic, transformational and visionary leadership styles of owner-managers influence employees’ performance. Age and experience of owner-managers, however, did not moderate the relationship between leadership styles of owner-managers and employees’ performance.
The Universal Basic Income (UBI) is a snare and a delusion. It is bad enough that our friends on both the right (conservatives) and the left (who knows what they are now calling themselves, it keeps changing) favor this system. It is horrid that even libertarians have been taken in by this egalitarian measure. The present essay is devoted to showing the flaws in UBI.
The Cruise industry is a growing market which represents, 24.7 million global passengers in 2016, 25.8 million in 2017, and an estimated 27 million in 2018 (FCAA 2018, CLIA (Dec) 2018). In addition, this industry is providing over 1.1 million full time jobs, with $45.6 billion accumulated wages and salaries (CLIA (Nov) 2018). Lieberman explains that Cruise companies encourage early booking, and target 95% occupancy rates. Customers are skewed towards the more affluent. For example, the world cruise fare on Crystal Cruises departing January 6 2020, ranges from $30,447 to $202,099 per person (Garay et al. 2019). A wholly owned subsidiary of Nippon Yusen Kabushiki Kaisha (NYK), NYK Cruises offer cruises to the Japanese market aboard Asuka II, the company’s luxury cruise ship. NYK Cruises’ guest population is predominantly Japanese. This is with the exception of non-Japanese guests residing in Japan, Japanese speaking foreign visitors or foreign visitors travelling with Japanese friends or family. In 2017, the NYK Group CEO (NYK 2017) stated that 30 years ago, the greater majority of their employees had been Japanese. Presently however, non-Japanese represent 85% of office workers and seafarers worldwide. According to Radic (2017) English is the first language aboard ships and aboard NYK’s Asuka II, crew staff consisted of 86% non-Japanese employees, 38% of whom could not speak the language and did not interact with guests directly. Of the NYK Cruises’ land talent, Japanese employees mainly communicated and delivered services to Japanese guests in their native language. This situation led to a cultural split caused mainly by the different use of language (Cohen et al. 2017), and also by the nature of business operations. In other words, the crew on board Asuka II could not see what happened on land, while the land communicators, organizational engineers, talent operators and corporate executives did have a direct appreciation of what happened at sea. This paper uncovers how IBM Japan helped a group of corporate communicators, organizational engineers and talent operators at NYK to utilize modern technology. In addition, along with their social engineering practices, to enhance internal communications, stimulate internal collaboration, strengthen engagement and modernize talent practices to transform the cruise operator’s corporate culture.
Customer satisfaction is a marketing term that measures how products or services supplied by a company meet or surpass a customer’s expectation. Customer satisfaction is important because it provides marketers and business owners a metric that they can use to manage and improve their businesses. This paper aims to analyze the main aspects related to customer satisfaction regarding the furniture provided by a Romanian company and includes details regarding the importance of consumer satisfaction and factors that shapes customer preferences.For better results were applied a survey regarding the consumer satisfaction on their products
By associating with banking globalization, economic barriers have become collective due to the intensification of such diverse links. The banking system has supported access to the money markets as well as technological progress. Thus, the competition was also observed in the banking sector, as evidenced by the recommendations of the credit institutions, the diversity of products and services, but also by the claims and wishes of the clients, both legal and physical persons. Banking associations in Romania are part of the group of commercial banks of general level that perform a variety of banking operations that mediate throughout the country. Given the desire to develop of the banks, they seek to evolve through the establishment of new branches throughout the country. In this way, the article aims to analyze the evolution on the line of credit from the perspective of the first two players in the Romanian banking market, according to the market share of BCR and BT.
Clusters vary from one company to another depending on the activity, the area in which they operate and activity of networking with other institutions in the areas of interest. The tourist destination organization could contribute to the regional development by implementing in its development policy the strategy of a cluster association. This paper provides an overview of the investigation of the term cluster with an emphasis on the level of knowledge of the term. The recent development of this sort of association is increasingly taken into considerations by investors and also by policymakers, interested in regional development of economy. Our hypothesis considers that the term cluster, regarding the association for the regional economic development, could be a good strategy for Romanian firms and particularly for destination management organization. In this paper, based on the exploratory research and a pilot survey, we show that the term cluster, on the perspective of economic growth, is moderately known and his impact on the economic development is rather unclear. Regarding the management of tourism destination, the association in clusters prepare for a long-term development support for tourism, integrated in the European development strategy. For a tourism destination organization, the association in a regional non industrial cluster provides consistency for the development policy and strategy, growth the institutional and companies relationship, improve legislation, touristic product development and diversification, marketing, tourism infrastructure, rise the economic impact of tourism, attract new investors and enhances the human resource development.
The risk concept is multi-dimensional in terms of the approach taken in the context of studies on financial investor behavior. Risk assumption is context-dependent and, at the same time, subject to observation. Risk attitude is important to explain why an investor is interested or not to invest in capital markets, but also to determine the amount of money it invests. Studies on investor perceptions about risk and return on ordinary financial securities reveal significant differences between professional and non-professional investors. That's why investors' willingness to take risks needs to be analyzed and evaluated in context. There is no best or only way in which attitude to risk can be assessed or predicted, anticipated. This is why specific context-sensitive tools are needed. Depending on economic dynamics, political, social, environmental or demographic changes, the management of the investment portfolio will constantly require careful monitoring and continued adaptation to the requirements or expectations of the financial market
The paper studies the current state of research and experimentation with new approaches (Universal Basic Income and Universal Basic Assets) for providing basic revenues for whole populations as a possible solution to the issues generated by globalization and by the disruptive impact of the fourth industrial revolution on the labor market. The paper reflects the fact that as of 2017-2018 these new approaches have already been seriously taken into consideration by international organizations (IMF, OECD, European Union), while many countries already experiment with their implementation. The conclusion of the paper is that the large scale adoption of such approaches is very likely to happen in the medium to long term future, while their effectiveness will depend a lot on the existence of new social economic models characterized by largely accepted certain ethical values and norms.
In the last years, new economies have emerged in Europe as an attempt to solve societal and environmental challenges that the Old Continent faces. One example is the circular economy whose large spectrum of solutions attracts both public and private sectors. This new economic model is followed in many European countries, their cities having already integrated circularity in their municipal agendas. Public institutions, SMEs, large businesses, organizations, academia and research centres are involved in the process of transition to a circular economy. The United Kingdom has shown its interest in these plans, supporting several projects in the field accross the country. This paper deals with London’s strategies to attain the objective of becoming a circular city. The measures planned by the municipality and their impact on London’s economy are explored.
