The downside however of these evolving trends is that, nations could also be confronted with a substantial risk of being left behind if they are unable to adapt to or keep even pace with these changes. In addition to the growing levels of business activities, the nature of business itself is also changing. Essentially, while business was once founded on only the dimension of ‘cost’, it has today evolved to a degree whereby, innovation and speed are essential for a successful venture. The production of goods and services that was previously left to the dictates of the lowest-cost producers is no longer the rule of the ‘ business game ’ because massive competition from an increasingly globalised economy has driven profits down to the neighborhood of zero. In this light, the imperative of using added value is obvious: including design, efficient distribution, differentiation of products, reputable brand names and effective marketing. Hence for an industry to grow sustainably, it is essential for it to actively and productively generate new value chains as well as contribute to existing ones. Accordingly, key elements in value chains are high-value services and innovation, not necessarily production (Suh & Chen, 2007).
as a benchmark, the authors assess the potential of service sector outsourcing in contributing to regional competitiveness by increasing the innovative capacity. Further, the paper discusses the role of state policies towards service sector FDI. The analysis combines data obtained through multiple case studies of service sector outsourcing projects in the Visegrád four. Moreover, it draws on interviews with senior employees of investment promotion agencies and available statistics on activities within the service sector in the region. It argues that the recent inward investments in business services in the Czech Republic, Hungary, Poland and Slovakia mainly utilise existing local human-capital resources, and their contribution to the development of the knowledge-based economy is limited to employment creation and demand for skilled labour.
deﬁ ned by high levels of skill, ongoing learning, multitask- ing and problem solving, relative to workers who reported less complexity in their roles. Innovation and creativity are increasingly believed to be the keys to organizational success and our ﬁ ndings suggest that responsibility for idea generation and related behaviors falls on certain workers over others. Results from a recent survey of workers in the knowledgeeconomy indicated that, on average, workers use a fairly limited range of methods to share and capture information in the workplace, focusing primarily on informal interactions with colleagues. Idea-sharing tactics that were less common included talking to outside experts, reading professional journals, attending external training sessions or events, scheduling brainstorming meetings and using informal socialization outside of the ofﬁ ce. 14 The results
Knowledgeeconomy (KE) has emerged in the Organization of Economic Co- operation and Development (OECD) and World Bank reports (since the end of the 1990s) as key to the 21 st century development (World Bank, 2007; Peters, 2008; Weber, 2011). Accordingly, it is now well documented that knowledge created through innovation and technological advancement is critical for long-term economic growth. While the finance- growth nexus has been abundantly assessed in theoretical and empirical literature, the finance- KE nexus has received very blur scholarly focus in developing countries (Asongu, 2014a). Understanding the role of KE in financial development is developing countries is crucial because financial intermediation has been substantially documented as indispensible in channeling mobilized resources to economic operators. Today the informal financial sector, a previously missing component in the IMF (2008) definition of the financial system can no longer be marginalized in developing countries because of the burgeoning phenomena of mobile banking , microfinance…etc (Asongu, 2014 a; Tchamyou, 2014).
Creating new knowledge about occurring phenomena may in the future lead to its direct application in the form of new technological solutions (Czarniewski, 2015). Many companies attentively observe what kind of projects are realized in research centers. Based on macro- and micro-economical analyses, these enterprises try to predict the potential benefits of the commercialization of scientific work. An important role is played by scientific publications documenting successive phases of conducted studies (Pomerleano and Shaw, 2005). Through such publications, companies not only gain an opportunity to build contacts, but also have access information which only becomes (valuable) knowledge when its recipients are capable of using it (Alvesson, 2004). Another benefit associated with the financing of basic research concerns the education of future graduates, who are offered the opportunity to participate in the implementation of research (as their co-contractors). Students can acquire practical skills that will be useful for them in the future, in work environments that are not necessarily connected to research. New challenges associated with conducting basic research force scientists to develop new analytical methods. This allows them to solve emerging problems, to use new research tools or to use laboratory techniques that have not yet been exploited. All this leads to the development of research fields in existing scientific disciplines which have not yet been explored (Salter and Martin, 2001). It also enables scientists to formulate new solutions to complex technological problems, which often benefit the companies concerned.
Knowledge was first recognised as a key resource by Bell (1999); it is only recently that this has been widely recognised. Bell (1999) offered an insight into the knowledge-based economy, suggesting “what is distinctive about the post-industrial society is the change in the character of knowledge itself”. What has become decisive for the organisation, for decisions, and the direction of change, is the centrality of theoretical knowledge - the primacy of theory over empiricism and the codification of knowledge into abstract systems symbols that, in any self-evident system can be used to illuminate many varied areas of experience. Bell (1999) drew attention to the increasing importance of theoretical knowledge for the functioning of economies. Demonstrating that even the most theoretical forms of knowledge essentially depend on the application of types of cognition and social skills that are inherently non- codifiable (Brown and Duguid, 1999). This suggests that theoretical knowledge, practical application and social context are inherently, inextricably linked. By viewing the knowledge- based small firm as a firm of knowledge assets, the emphasis on understanding and developing KM processes of knowledge creation, transmission and retrieval is critical. Thus organisational knowledge, learning and KM form a triangle, facilitating the ongoing development of organisational knowledge via a KM process that leads to continuous organisational learning and firm knowledge. A KM process that has the ability to integrate, communicate and transfer knowledge on a on-going bases, as part of a natural emergent process, virtue of being inextricably linked and embedded into its historical and a-historical developed context are idiosyncratically complex and dynamic (Eisenhardt and Santos, 2002; Spender, 1996).
This places economic studies and practice in the correct historical perspective to the effect that economics forms not part of the foundation of creation but emerges as a discipline through certain actions of men that led to scarcity. Hence, scarcity has become a major challenge of man to address. This demands the compulsory knowledge of economics to minimize the effect and impact of scarcity, for man’s welfare and development. This does not correlate my ideas in support of the Karl Marx School of thought which believes that scarcity could forever be eradicated by the abolition of private property. From my perspective such an intellectual opinion is radically ambitious and does not hold the solution to the problem under debate, taking in context the ‚Value‛ of man and attitude to power of control, naturally on the grounds of historical evidence
Knowledge is recognized as an important asset for decision makers in an organization, Ineffective implementation of knowledge management, will result in problematic decision making, thus delaying organizational growth. Effective implementation of KM results in good decision making which is known as Eo towards achieving success in any business. Eo has proven to be a useful construct that enables organizations to maintain their performance trajectories (Covin & lumpkin, 2011). Furthermore, adopting Eo in any organization, requires an individual to have creative and risk taking abilities to drive an effective KM initiative. (Matin, Nakhchian, & Kashani, 2013). In e-business strategies, there are a lot of possible opportunities as well as risks that should be critically identified for implementing a good strategy or decision making. Leveraging knowledge is one of the success factors for an e-business approach in the new economy in order to achieve business success (lipińskA, 2015).
is a lot more complex than the optimal location theory of the firm as businesses do not always set up in their lowest cost or highest profit locations. For example, N’da (2012) demonstrated that the cost of doing business in Sub-Saharan African countries (SSACs) depends on many indicators of the quality of the business environment, all of which suggest the importance of the transparency of business dynamics to trade, foreign direct investment (FDI), and foreign aid, hence to the KE (see World Bank Doing Business reports).The WB and the International Finance Corporation ’s (IFC) Doing Business in the East African Community(2013) reveals that only 10 SSACs rank among the top 100 of 185 countries in which it is easy to do business (http://www.doingbusiness.org). Eifert, Gelb, & Ramachandan (2005) found evidence that the business climate determine the competitiveness and external economies of African manufacturing sectors, so that “Africa is high - cost relative to its income and productivity” Consequently, Bannock and Darro (undated) raised seven key points to justify “donor support for business environment reform in Africa” (p.1) , and called for intense engagement and creation of institutions and instruments that link governments, donors, private sector stakeholders and development agencies to the business environment. Also, Spring, Rolfe, & Odera (2013) studied the Sub-Sahara Africa (SSA) business environment by major regions, revealing influential economic factors and forces like economic growth, trade, infrastructure, and FDI.
Social economy in the biggest EU countries is very important and creates significant amount of income for their budget. As the statistical data reveal, the United Kingdom, Germany, Spain, France, Finland experienced a boost in social economy (see Figure 2). But, for example, such countries as Denmark, Malta, Cyprus, Latvia were not interested in developing their social enter- prises and boost social economy. Slovakia, Romania, Ireland, Bulgaria, Slovakia, and Lithuania were in quite analogous situation in terms of the size of their social economy (OECD, 2013). Ney et al. (2014, p. 60; Konda et al., 2015) mention that, first, value creation refers to the design and delivery of products and services. Some social entrepreneurs will introduce entirely new prac- tices to the provision of public goods and social services. Secondly, value creation also involves the financing practices, human resource management and marketing regimes to deliver products. Some social entrepreneurs may provide a rather common product or service, say health care, but are radically innovative in their financing, managing and marketing practices. In this way, the frame- work captures social innovations that create value in terms of the services or products, in terms of management and in terms of both. Social innovations aim to create value for society. In some EU countries, for example Slovenia, the greatest difficulty with the implementation of social innovation into the social setting is the weak supportive environment, lack of funds and the unwillingness of the state and other important actors to take risks and make changes (Azmat, Samaratunge, 2013). In Lithuania, the situation is quite similar, some of the key factors remain a lack of legislation, tax regulation, weak knowledge about social entrepreneurship and social innovation. Such conditions lead to insufficient development of innovative social enterprises. Unemployed people lack inspira- tion and support for successful entrepreneurial social start-ups.
The Recovery Time Objective (RTO) is closed to the business process but not in the case of requiring the support of the process. It is also targeted on the continuation of service and time level inside a business process that has to be renewed after disaster influence in appropriate time. The Recovery Point Objective (RPO) is a process in business continuity planning connected with IT service and is focused on the maximum targeted period when data might be lost. RPO describes the age of data in the last available IT reserve for potential renewal. All these analysis steps are really important and purposeful because of its significance related to purposeful because of its significance related to the security and military area in general and are useful for many types of security processes.
Little is known about mate choice preferences outside Western, educated, industrialised, rich and democratic societies, even though these Western populations may be particularly unrepresentative of human populations. To our knowledge, this is the first study to test which facial cues contribute to African perceptions of African female attractiveness and also the first study to test the combined role of facial adiposity, skin colour (lightness, yellowness and redness), skin homogeneity and youthfulness in the facial attractiveness preferences of any population. Results show that youthfulness, skin colour, skin homogeneity and facial adiposity significantly and independently predict attractiveness in female African faces. Younger, thinner women with a lighter, yellower skin colour and a more homogenous skin tone are considered more attractive. These findings provide a more global perspective on human mate choice and point to a universal role for these four facial cues in female facial attractiveness.
Global changes in the world economy after World War 2 significantly influenced the process of business and eco- nomic globalization. From this point of view, within the new economic order, it was important to establish three main in- stitutes – International Monetary Fund (IMF), which was providing stability of currency rates and support of those states, which could be involved in the economic crisis; In- ternational Bank for Reconstruction and Development, which later was entitled World Bank and the task of which at the first stage was to facilitate private investments, first of all, in Europe and later in other regions of the world and promote economic reconstruction and the General Agree- ment on Tariffs and Trade, which since 1995 has become the World Trade Organization the main purpose of which was liberalization of trade. After disintegration of the com- munist system and ending of the “cold war”, activity of those organizations was spread over the post-communist coun- tries, which was pointing out, that the economy and busi- ness principles of the whole world were subordinated to the common principles. This is the main condition of economic globalization.
ii. The development of public support for its implementation (Genevois, 2008). There is growing concern in Malaysia regarding the need to shift the policy of traditional technology transfer to the system of new innovative technology production. Therefore, this research is designed to find out the solution through the implementation of a Quadruple Helix culture in which government, university, industry and public have a mutually supportive but dependent relationship. In this culture, universities have been assigned with a leading role for the provision of sustainable basis for innovation and technological progress as suggested by Saad et al.. (2008). It will also be used to explore the possible ways to establish a link between government-university-industry-public and to search out a workable frame work in this context which in general considered as;
The growth in the Tanzanian market occurred against the background of the very limited banking services networks in the country. Vodacom partnered with M-Pesa to fill the gap, but the Tanzanian market is an open competitive market with Tigo and Airtel operating as competing mobile service providers. The expansion is primarily ascribed to the large number of agents supporting all three service providers. In 2013 there were approximately 20 000 M- Pesa agents, but by 2014 this number has risen to 73 000 – and around 2 500 agents were added monthly. This success shows how the Tanzanian society embraced the liberal market as Vodacom doubled its network recently. Vodacom first closed the 2G gap and then moved to become the market leader in 3G service provision in Tanzania. M-Pesa complemented these efforts by securing interconnections with Tanzanian banks, which gave Vodacom access to both the banked and the unbanked sector in the country. Where M-Pesa was first used to transfer money to family and friends, as had been the case in Kenya, it developed into a business tool allowing customers the facility to pay for services, such as utilities (water and
The Quarterly financial statistics Survey covers a sample of private enterprises operating in the formal non-agricultural business sector of the South Africaneconomy. It excludes financial intermediation, insurance and government institution. Results of the survey are used in compiling estimates of the Gross domestic product (GDP) and its components, which in turn are used to develop and monitor government policy. These statistics are also used by the private sector in analysis of comparative business and industry performance. The results are published quarterly in the statistical release P0044: Quarterly Financial Statistics.
Table1characterizes key variables, data, and data sources. Additional variable definitions and clarifications are in table footnotes. Among the key variables are indicators of KE (Panel A), governance (Panel B), globalization (Panel C), and peace and stability (Panel D), as well as control variables (Panel E). Preliminary descriptive statistics reveal very high coefficients of correlation, some of them running as high as |-0.945| like that between Innovex and Creditex, for instance. 4 The high correlations indicate a strong presence of heteroscedasticity, along with multicollinearity, which is in line with previous literature which documented that constituent elements of the KnowledgeEconomy Index (KEI) are correlated with one another. Hence, we first apply the principal component analysis (PCA) to reduce a large set of highly correlated variables into a smaller set of uncorrelated principal components (PCs) that retain necessary and sufficient information as was in the initial dataset to KE and governance indicators (cf. Asongu, 2013a, 2013b, 2015; Andrés et al, 2015). We use the Kaiser (1974) and Jolliffe (2002) criterion for retaining the PCs with eigenvalues greater than the mean or one, because they denote eigenvectors which contain a significant proportion of the initial information.
The aim of this paper is to identify the knowledge elements that are crucial in the internationalisation process of Hungarian firms. It uses a two-dimensional model of businessknowledge, which separates businessknowledge along two dimensions: the tacit or explicit nature; and the codified or uncodified one. This model tells us that tacit and codified knowledge is the most difficult to transfer, while the explicit-uncodified part is the easiest. The five types of businessknowledge were measured with a questionnaire. It is non-representative, filled in by 104 Hungarian firms among which the larger and more internationalised ones are overrepresented. Based on this non-representative sample we have found that the organisational beliefs and habits, and the competence of the employees are the two businessknowledge elements that are most closely associated with the internationalisation of the firms. This makes it especially difficult to promote internationalisation through the transfer of knowledge, because these key knowledge elements are the stickiest, the hardest to transfer.
With more and more residents into self-employment, then their economy will be independent, not to be dependent on the capitalist economic system, in this case the Government has to be pro active provides capital for entrepreneurs in order to be truly productive with flowers competitive, and not destroy the entrepreneur or the Government, the results of their business profits will be deposited in banks in the country, so the smoother turnover, with it their capital will be increased so that it is able to penetrate the share global markets, that would raise the import-export balance and will add to the foreign country as a significant, then it is very clear, that entrepreneurship has a very important role to raise the dignity the dignity of a nation at the international stage.