Abstract Economic and monetary integration is the result of unifying efforts that have become a major driving force in post-war Europe. Although some of the initial initiatives, the Monetary Union project has many times been on the brink of interest. It can be as the surprise that Europe has managed to implement the common currency so soon and relatively smoothly. Nevertheless, even after its launch, this project has never completely abandoned criticism and discussion of the legitimacy and meaningfulness of its existence. Critical attitudes to the introduction of the common currency in the European Union are based above all on the Optimum Currency Area theories. The theoretical concept of optimal currency areas is currently considered a standard tool for assessing monetary integration efforts in Europe. OCA criteria are used to estimate the readiness of the candidate countries to adopt the euro, while the convergence processes are linked to the decision on the euro adoption timeline. The aim of our research article is, therefore, to closely analyze the issue of monetary policies and optimal currency areas in the context of convergence efforts towards more closely integrated economic and monetary unions.
{"title":"A Search for an Optimum Currency Area","authors":"M. Hudec","doi":"10.2478/stcb-2018-0006","DOIUrl":"https://doi.org/10.2478/stcb-2018-0006","url":null,"abstract":"Abstract Economic and monetary integration is the result of unifying efforts that have become a major driving force in post-war Europe. Although some of the initial initiatives, the Monetary Union project has many times been on the brink of interest. It can be as the surprise that Europe has managed to implement the common currency so soon and relatively smoothly. Nevertheless, even after its launch, this project has never completely abandoned criticism and discussion of the legitimacy and meaningfulness of its existence. Critical attitudes to the introduction of the common currency in the European Union are based above all on the Optimum Currency Area theories. The theoretical concept of optimal currency areas is currently considered a standard tool for assessing monetary integration efforts in Europe. OCA criteria are used to estimate the readiness of the candidate countries to adopt the euro, while the convergence processes are linked to the decision on the euro adoption timeline. The aim of our research article is, therefore, to closely analyze the issue of monetary policies and optimal currency areas in the context of convergence efforts towards more closely integrated economic and monetary unions.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"11 1","pages":"75 - 90"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43780172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Since the end of the World War II, Europe has gone a long way on the path of a new era of socio-economic integration, continually battling and overcoming the political and economic fragmentation of earlier eras and less developed economies. The various difficulties and interruptions of the process involved, the European integration, since the 1952 European Coal and Steel Community, ranged from an initial small group to a large community comprising most European countries, the gradual removal of market barriers leading to the introduction of a customs union to the single market. Furthermore, the creation of Economic and Monetary Union and the adoption of the common currency have become the culmination of the whole process of economic integration, since the euro is used daily by 338.6 million Europeans in 19 EU member states. The aim of our research article is to closely analyze the development of the economic and monetary integration of Europe, since we believe that the single currency project represents a great success for the European Union as the result of long-term efforts on currency and economy stability, progress and economic growth.
{"title":"The Development of International Economic and Monetary Cooperation in Europe","authors":"M. Hudec","doi":"10.2478/stcb-2018-0003","DOIUrl":"https://doi.org/10.2478/stcb-2018-0003","url":null,"abstract":"Abstract Since the end of the World War II, Europe has gone a long way on the path of a new era of socio-economic integration, continually battling and overcoming the political and economic fragmentation of earlier eras and less developed economies. The various difficulties and interruptions of the process involved, the European integration, since the 1952 European Coal and Steel Community, ranged from an initial small group to a large community comprising most European countries, the gradual removal of market barriers leading to the introduction of a customs union to the single market. Furthermore, the creation of Economic and Monetary Union and the adoption of the common currency have become the culmination of the whole process of economic integration, since the euro is used daily by 338.6 million Europeans in 19 EU member states. The aim of our research article is to closely analyze the development of the economic and monetary integration of Europe, since we believe that the single currency project represents a great success for the European Union as the result of long-term efforts on currency and economy stability, progress and economic growth.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"11 1","pages":"28 - 41"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48080238","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Expanding globalization of the world economy has put a strong pressure on individual entities that operate in it. International competitiveness has become a major driving force of economic and social differentiation of the countries. Individual states and their public administrations have to create an effective business environment. This paper reflects these developments and, with the help of relevant multi-criteria (GCI, WCI, DBI) and single-criteria indexes of competitiveness, tries to assess the current state of competitiveness of two regions in Central and Eastern Europe – the Visegrad Four and Baltic Group states, which had a similar starting position on their path to building a market economy and integration into the EU structures.
{"title":"Comparison of the Visegrad group and Baltic countries in terms of multi-criteria competitiveness indicators","authors":"Viera Ružeková, E. Kašťáková","doi":"10.2478/stcb-2018-0007","DOIUrl":"https://doi.org/10.2478/stcb-2018-0007","url":null,"abstract":"Abstract Expanding globalization of the world economy has put a strong pressure on individual entities that operate in it. International competitiveness has become a major driving force of economic and social differentiation of the countries. Individual states and their public administrations have to create an effective business environment. This paper reflects these developments and, with the help of relevant multi-criteria (GCI, WCI, DBI) and single-criteria indexes of competitiveness, tries to assess the current state of competitiveness of two regions in Central and Eastern Europe – the Visegrad Four and Baltic Group states, which had a similar starting position on their path to building a market economy and integration into the EU structures.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"11 1","pages":"106 - 91"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43799630","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The methodology describes the principle of setting a project in PRINCE2 project management. The main aim of the paper is to implement PRINCE2 methodology to be used in an enterprise in the service industry. A partial aim is to choose a supplier of the project among new travel guides. The result of the project activity is a sight-seeing tour/service more attractive for customers in the tourism industry and a possible choice of new job opportunities. The added value of the article is the description of applying the principles, processes and topics of PRINCE2 project management so that they might be used in the field.
{"title":"Application of PRINCE2 Project Management Methodology","authors":"R. Vaníčková","doi":"10.1515/stcb-2017-0021","DOIUrl":"https://doi.org/10.1515/stcb-2017-0021","url":null,"abstract":"Abstract The methodology describes the principle of setting a project in PRINCE2 project management. The main aim of the paper is to implement PRINCE2 methodology to be used in an enterprise in the service industry. A partial aim is to choose a supplier of the project among new travel guides. The result of the project activity is a sight-seeing tour/service more attractive for customers in the tourism industry and a possible choice of new job opportunities. The added value of the article is the description of applying the principles, processes and topics of PRINCE2 project management so that they might be used in the field.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"227 - 238"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/stcb-2017-0021","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47562845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Strategic analysis of business environment influences the growing efficiency, stability, and sustainability of enterprises. The entry is aimed at analyzing internal and external strategic methods between profit-making and non-profit-making enterprises from the perspective of their sector differentiation and size categorization focusing on small and medium-sized enterprises. The entry highlights the managers’ knowledge of the individual methods and their usability in business practice. The research was conducted based on a sample of 456 enterprises from the entire Czech Republic using a Student’s T-test of the differences of two percentages and the Fisher’s exact test. The conclusion of the entry is dedicated to the results of the tests, as well as new trends that are used in the area of strategic analysis and which have been indicated as a part of the set of tested enterprises.
{"title":"Strategic analysis methods and their influence on stability and development of small and medium-sized enterprises in the Czech Republic","authors":"J. Straková","doi":"10.1515/stcb-2017-0019","DOIUrl":"https://doi.org/10.1515/stcb-2017-0019","url":null,"abstract":"Abstract Strategic analysis of business environment influences the growing efficiency, stability, and sustainability of enterprises. The entry is aimed at analyzing internal and external strategic methods between profit-making and non-profit-making enterprises from the perspective of their sector differentiation and size categorization focusing on small and medium-sized enterprises. The entry highlights the managers’ knowledge of the individual methods and their usability in business practice. The research was conducted based on a sample of 456 enterprises from the entire Czech Republic using a Student’s T-test of the differences of two percentages and the Fisher’s exact test. The conclusion of the entry is dedicated to the results of the tests, as well as new trends that are used in the area of strategic analysis and which have been indicated as a part of the set of tested enterprises.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"196 - 214"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/stcb-2017-0019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44393800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The entry is aimed at analyzing the process of managing small and medium-sized enterprise, specifically in the Region of South Bohemia. The testing sample included 180 enterprises. The fundamental statistical information about SMEs is included, focusing of the numbers, the size category, and their specialization in the Region of South Bohemia. The research activities were aimed at the steepness of management structures and at their extent on all management levels. The analysis indicates that micro-enterprises prefer one management level, while small and middle-sized enterprises prefer two management levels with the statistic dependence on the size category. In regard to the number of employees on individual management levels, the top positions have from 6 employees up to 30 on the operative level. The general business trend involves a transfer to the functional management structure. With respect to the strategic management and decision- making, enterprises boost an attractive prospect of mainly their own sources. A statistical correlation was proved between the elaborated strategy, the size of the enterprise and number of management levels. A strong correlation between the number of management levels and the aim of the enterprise i.e. the type of organization structure was not proved.
{"title":"Analyzing the management process in small and medium-sized enterprises in the Region of South Bohemia","authors":"J. Váchal, Tsolmon Jambal","doi":"10.1515/stcb-2017-0020","DOIUrl":"https://doi.org/10.1515/stcb-2017-0020","url":null,"abstract":"Abstract The entry is aimed at analyzing the process of managing small and medium-sized enterprise, specifically in the Region of South Bohemia. The testing sample included 180 enterprises. The fundamental statistical information about SMEs is included, focusing of the numbers, the size category, and their specialization in the Region of South Bohemia. The research activities were aimed at the steepness of management structures and at their extent on all management levels. The analysis indicates that micro-enterprises prefer one management level, while small and middle-sized enterprises prefer two management levels with the statistic dependence on the size category. In regard to the number of employees on individual management levels, the top positions have from 6 employees up to 30 on the operative level. The general business trend involves a transfer to the functional management structure. With respect to the strategic management and decision- making, enterprises boost an attractive prospect of mainly their own sources. A statistical correlation was proved between the elaborated strategy, the size of the enterprise and number of management levels. A strong correlation between the number of management levels and the aim of the enterprise i.e. the type of organization structure was not proved.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"215 - 226"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1515/stcb-2017-0020","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47846743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The paper analyses logistics industry in Czech Republic and analyzes clusters and groups of one hundred companies that were active in the market in 2014. Analysis is based on the economic theory of endogenous growth and technological spillovers of multinational firms. They have the know-how and technology, which makes them more productive than local firms which tries to catch up the leaders and try to get as much knowledge as possible. This paper contributes to this theory. Key findings for this transitional economy is that quality certification is not beneficial for labor productivity and earnings, there are differences among multinational firms in terms of output efficiency and they are on average more productive than local firms, older firms are less productive than younger, but entrants are not more profitable than older firms.
{"title":"Productivity of Czech logistic firms: quality orientation, entrants and multinationals","authors":"Marek Vokoun","doi":"10.1515/stcb-2017-0022","DOIUrl":"https://doi.org/10.1515/stcb-2017-0022","url":null,"abstract":"Abstract The paper analyses logistics industry in Czech Republic and analyzes clusters and groups of one hundred companies that were active in the market in 2014. Analysis is based on the economic theory of endogenous growth and technological spillovers of multinational firms. They have the know-how and technology, which makes them more productive than local firms which tries to catch up the leaders and try to get as much knowledge as possible. This paper contributes to this theory. Key findings for this transitional economy is that quality certification is not beneficial for labor productivity and earnings, there are differences among multinational firms in terms of output efficiency and they are on average more productive than local firms, older firms are less productive than younger, but entrants are not more profitable than older firms.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"239 - 247"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46192989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The aim of this paper was to determine by means of a questionnaire survey to what extent large and medium-sized companies in the Czech Republic apply a systematic approach to education. This is, amongst other things, dependent on the existence of long-term and annual education plans and on whether the education is organized systematically by a personnel department or by a dedicated staff department focused on education. Two hypotheses were set. The first, that in at least 70 % of large companies and 50 % of medium-sized company education is organized by a personnel department or a separate staff department focused on education. The second, that at least 70 % of large companies and 50 % of medium-sized companies have a long-term education plan, including an annual education plan, in place. Although neither of the hypotheses were confirmed, it was proven that large companies approach the issue of corporate education in a more systematic way than medium-sized ones.
{"title":"Organization and Planning of Corporate Education in the Czech Republic","authors":"Z. Caha","doi":"10.1515/stcb-2017-0014","DOIUrl":"https://doi.org/10.1515/stcb-2017-0014","url":null,"abstract":"Abstract The aim of this paper was to determine by means of a questionnaire survey to what extent large and medium-sized companies in the Czech Republic apply a systematic approach to education. This is, amongst other things, dependent on the existence of long-term and annual education plans and on whether the education is organized systematically by a personnel department or by a dedicated staff department focused on education. Two hypotheses were set. The first, that in at least 70 % of large companies and 50 % of medium-sized company education is organized by a personnel department or a separate staff department focused on education. The second, that at least 70 % of large companies and 50 % of medium-sized companies have a long-term education plan, including an annual education plan, in place. Although neither of the hypotheses were confirmed, it was proven that large companies approach the issue of corporate education in a more systematic way than medium-sized ones.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"137 - 145"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42739567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The activities of financial agents deserve our attention as we can currently observe their growing share on the intermediation of financial services. The quantity of products and services offered by financial market segments requires a continuous education and the monitoring of the current legislation. Financial agents help their clients to find a financial product, which fulfills their specific needs. The client´s decision depends on the extent of the information a financial agent provides to him. The legislator imposes an obligation to act when performing financial intermediation in compliance with the principles of fair business relations, with professional care and in the interest of rights and legitimate interests of a client. However, the legislation does not define these terms. This paper aims to outline and analyze procedures in order to perform financial intermediation in accordance with regulatory requirements.
{"title":"Some Selected Legal Aspects of the Activity Rules in Relation to the Financial Agent´s Clients","authors":"Andrea Slezáková","doi":"10.1515/stcb-2017-0018","DOIUrl":"https://doi.org/10.1515/stcb-2017-0018","url":null,"abstract":"Abstract The activities of financial agents deserve our attention as we can currently observe their growing share on the intermediation of financial services. The quantity of products and services offered by financial market segments requires a continuous education and the monitoring of the current legislation. Financial agents help their clients to find a financial product, which fulfills their specific needs. The client´s decision depends on the extent of the information a financial agent provides to him. The legislator imposes an obligation to act when performing financial intermediation in compliance with the principles of fair business relations, with professional care and in the interest of rights and legitimate interests of a client. However, the legislation does not define these terms. This paper aims to outline and analyze procedures in order to perform financial intermediation in accordance with regulatory requirements.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"188 - 195"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46355545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Enterprise Architecture includes organizational and management part and visions and goals of the organization, business processes leading to the goals, innovation processes, control mechanisms, information and communication technologies and others. The paper focuses on one of the most important components of corporate architecture, organizational and management framework of an enterprise in terms of its present state and anticipated changes and the expected development in the context of the emerging new economy. The research was carried out in a sample of 372 enterprises from the whole Czech Republic with the sector (industrial, manufacturing, services and primary sector) and size differentiation (micro-enterprises, small and medium-sized enterprises and large enterprises according to the classification of Ministry of Industry and Trade of the Czech Republic and the EU). The statistical methods were used (p-value with Pearson Chi quadrate output) to analyses the results. The conclusion indicates a possible development in the corporate organization architecture in the context of the paradigm of changes in the external corporate environment.
{"title":"Indication of Changes in Projecting Organizational Structures Under the New Economy","authors":"Petra Pártlová","doi":"10.1515/stcb-2017-0017","DOIUrl":"https://doi.org/10.1515/stcb-2017-0017","url":null,"abstract":"Abstract Enterprise Architecture includes organizational and management part and visions and goals of the organization, business processes leading to the goals, innovation processes, control mechanisms, information and communication technologies and others. The paper focuses on one of the most important components of corporate architecture, organizational and management framework of an enterprise in terms of its present state and anticipated changes and the expected development in the context of the emerging new economy. The research was carried out in a sample of 372 enterprises from the whole Czech Republic with the sector (industrial, manufacturing, services and primary sector) and size differentiation (micro-enterprises, small and medium-sized enterprises and large enterprises according to the classification of Ministry of Industry and Trade of the Czech Republic and the EU). The statistical methods were used (p-value with Pearson Chi quadrate output) to analyses the results. The conclusion indicates a possible development in the corporate organization architecture in the context of the paradigm of changes in the external corporate environment.","PeriodicalId":30220,"journal":{"name":"Studia Commercialia Bratislavensia","volume":"10 1","pages":"175 - 187"},"PeriodicalIF":0.0,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46218233","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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