Purpose of the article One of the approaches how to create a concept of a brand is a form of identifying association network in the mind of the consumer and creating semantic maps composed of all associations that are largely shaped by cultural values of consumers. Methodology/methods In the first phase, the author of the study was detecting the associations connected with the Mexican brand alcoholic beer Corona Extra using focus group with a sample of 15 respondents. In the second (...) phase, she analysed the data found in the context of Slovak cultural values and compared them with the results of the secondary research. Scientific objective The article highlights the importance of understanding cultural values of the target market for the management and brand communication across cultures. The main objective of the survey was to determine how the Slovak respondents perceive selected sample of global brand, to compare the findings of a secondary survey conducted at German and Spanish students, and in the final phase of the research to analyse the data found in the context of the cultural dimensions of respondents. Findings On one hand, the associations formed by consumers about Corona Extra mutually differ depending on the countries surveyed. On the other hand, they correspond to the cultural values of the nation, and thus confirm the strong influence of the cultural aspects of the brand perception. Conclusions The presented article confirms, that there will always be an open space for the extensive research in global marketing and cross-cultural differences in consumer behaviour. Exploring cultural aspects of communication of global brands will benefit not only in terms of increasing the efficiency of advertising campaigns, but also for the mutual knowledge and understanding between cultures. (shrink)

Purpose of the article: Most regional macroeconomic processes may not be adequately analyzed without accounting for their spatial nature: regional distances, interactions between neighbors, spill-over effects and interdependencies. This contribution focuses on various factors ruling unemployment dynamics in the Visegrad Group countries and their major economic partners: Germany and Austria. The analysis is performed at the NUTS2 level. Methodology/methods: Spatial econometrics is a unique tool for a broad range of quantitative analyses and evaluations. Spatial econometric models are based on geo-coded (...) data. Spatial econometrics and regional competitiveness paradigms are combined into different types of regression model specifications describing unemployment dynamics. Alternative spatial structures are used for verification of stability in estimated model properties. Scientific aim: We aim to provide a detailed empirical evaluation of spatially determined factors of regional unemployment dynamics, along with insight into the robustness of such approach. Both conceptually and parametrically varying neighbor definitions are used to provide evidence for model evaluation. Findings: We find strong positive spatial dependence patterns in the estimated models, robust against varying neighborhood definitions. Our results strongly support the importance of regional and potentially cross-border cooperation in macroeconomic policies addressing unemployment. The estimated models also underline the importance of using spatial models, by pointing out the bias in OLS-estimated models. Conclusions and limits: Spatial approach to econometric analysis provides important insight and robustness to a broad range of unemployment analyses that may be carried out using regional data. At the same time, it should be noted that this article focuses mostly on the spatial and stability aspects of model estimation, while leaving out other interesting topics such as spill-over effects calculations as based on estimated models. Also, estimations provided in this article might benefit from spatial panel data-based methods - once data availability issues are sorted. (shrink)

The research purpose is to find out if signs of a real estate bubble are shown at the austrian real estate market right now. Lending rates are composed of different factors: the base rate is the price that the customer is willing to pay. The risk premium is given to compensate the lenders risk of full or partial failure of repayment. The inflation adjustment takes into account the impairment of money over the term of a loan. The liquidity premium increases (...) with extension of the term of the loan. The European Central Bank influences the interest rate policy by varying the interest for money saved there by the banks. At the moment there are used negative interest rates, i.e. penalty interest. The methodology used was that recently the ECB lowered the interest rates which might cause real estate bubbles and, subsequently, banks and economic crises may follow, if interest rates were to be increased again sooner or later. Therefor the author studied the amount of sales and the connection to the interest rates and the interest rate policy of the banks right now. Summarizing it can be seen that in Kittsee, an Austrian area with a lot of real estate sales, as an example, 565 real estate properties were sold in the years 2005 to 2015, the median prices increased in relation to the buyers residence in Austria or non- Austrians at about 375% to 490%, this might indicate signs of change on the market. (shrink)

All entrepreneurs try to be timely unlimited, constant and successful in their business. In doing so, their company founding, running operations and development all depend on adequate and quality financing. The goal is to ensure a stable financing and growth and the question is how, when and from which sources should the financing be ensured. When talking of financing, it is primarily meant ensuring the money or the capital, a synonym of the entrepreneurship and its main moving strength. In order (...) to be successful, it is of high importance to meet optimal business decisions and specially investing decisions. Even though the focus of the financing process is not solely limited to money, money plays a central role and is also the basis and the requirement for business activity and the very existence and the end goal of a business as well. One important focus of entrepreneurs is the question of an optimal financial structure for their own enterprise. The specifics of every individual company together with the industry they are in and macroeconomic environment they operate in do not allow for a uniform and generally applicable solution to this problem. The focus of this problem lies in the ratio between the size and structure of assets on one side and the size and structure of equity and debt on the other side. Every entrepreneur should also know which amount and structure of long-term assets, fixed assets is necessary for his enterprise. The function of investment planning defines these requirements before the actual investment takes place. An entrepreneur who is already longer in business will at this point analyze his actual financial structure with a focus on capital accumulation and conditions of raising debt. (shrink)

The article focuses on process management in public administration using the specific case study of the statutory city of Ostrava. Based on the selected part of the PAPRIS methodology, the process management is verified, and conclusions from the application of information system e-SMO are generalized. Ostrava is third the biggest city in Czech Republic with approximately 320 thousand citizen. Article describes experiences with SW implements, which are used for model of process in public administration. Particulary at local authority of Ostrava (...) town. Model of process is a basis for reengineering of process in state administration and preparation for implementation of big information systems. Mapping of process is providing implement and confirmation methodology to identify existing processes. Problem with its using consist in that, senior manager don’t informs, what organization is determination by processes. If are not described in given to organization current processes, or how would have had look new optimum processes, will not endeavour about reengineering successful. Procedural analysis namely offer tool and check methodology to identification current suit and it is possible him use either as instruction for reengineering function handling administrative and self-rule activities. Purpose of the article: The PAPRIS methodology was used when defining the objectives for implementation of the information system for public administration. This methodology has been elaborated by one of the authors and published in a very general scheme when solving many case studies,,. We assume that the PAPRIS is primarily a methodology with incorporated elements of procedural approach for project management in public administration information systems. The specific supporting process of communication between the client and the e-SMO system has been chosen for verification. The model of supporting communication process, created by ARIS tools, is crucial, and the structure of scripts is subsequently made. The aim of this article is to verify that the methodology is sufficient and appropriate to manage such a large project such, undoubtedly, is the e-SMO. Methodology/methods: Defined productive and non-productive processes with their defined process cuts represent a crucial category for the process structure of IS projects. This is fully accepted by the PAPRIS methodology. Process cuts are understood, in the logic modelling according to the PAPRIS methodology, as clearly defined logic directional cuts in three-dimensional space of all project processes. The process set is systemically categorized, in a given logic directional cut, into mutually disjoint process subsets, which are characterized by this particular directional operator. The directional operator always has a clear logical allocation that is based on the construction of a process view. Theoretically, an infinite number of process views can be used. One of the important issues in a methodology for the case studies includes the size of the research sample. It is usually assumed that there is no ideal number of cases and that the number between four and ten usually provides good results. Other authors defining against any quantitative standards for any determination of the sample size of the case studies, since such an approach denies the internal logic of this methodology and the richness of the information obtained from participants in the research. Research which is carried out using case studies does not aspire on compliance with the requirement the representativeness of the sample.. Methodology of case studies is among the established guidelines of qualitative research. Research on using case studies in the last 30 years has seen an extraordinary increase in social-scientific research, including research on business and management. Scientific aim: The essential aim of this study is to describe the way the process cut defines a productive process and non-productive process, in accordance with the PAPRIS methodology using the specific example. While the triggering mechanism of the project production process is an event causing its own production - i.e. the specific output with added value for the customer, the project of non-productive process is caused by the project management event. Therefore, it is caused by the need to control, monitor, track, inspect, evaluate outputs, decide and regulate the project implementation. Findings: Within the support of the communication process, two examples were used to verify the methodology. The global perspective on the process was created in ARIS tools and the communication between the call centre and the client was made in Visio tools. The PAPRIS methodology is based on the concept of process variability, which has been clearly formulated. The fundamental direction of the process development, anticipated changes and the opportunity to react to them in accordance with defined objectives of the PAIS project are guaranteed. (shrink)

Purpose of the article: Knowledge is increasingly importance for the economic well-being of businesses. Core competencies of management are the generation and processing of information, used to develop a competitive advantage. Information has become established as a commodity in its own right which can be bought and sold. Four out of five goods traded on the market now consist of services or relate to information in the broadest sense. Knowledge is created when different pieces of information are linked on the (...) basis of a particular intellectual background and meaningfully interpreted. Accordingly, knowledge incorporates not just information but also experience, - judgements, rules of thumb and worldviews. Knowledge is always associated with human beings. Methodology/methods: This article is based on literature research. The original article was written in German and translated into English, supported by a translation agency. Scientific aim: A questionnaire is being drawn up on the basis of the research results. This will allow the appraisal of these influencing factors and framework conditions by small and medium sized enterprises to be surveyed and evaluated. Findings: Social systems arise through and are sustained by communication. Actions of managers primarily consist of communication. For cognitive simplification, all humans repeat actions that have previously proved successful. Previously accumulated knowledge thus becomes a significant barrier to learning. An organisation’s ability to learn depends not only the general willingness of its workforce to learn but also on the newness and/or compatibility of knowledge acquired from a partner. Conclusions : Developing or acquiring competition-relevant knowledge is generally time-consuming and costly. As a complementary function to knowledge acquisition, the retention of knowledge carriers in the form of people and materials forms another component of knowledge management. It is important to recognise early on those knowledge carriers who promise high potential in the future. (shrink)

The purpose of the research is to understand formulation of policy for creative industries, and in particular the importance of quantitative and qualitative data or information for formulation of the first policies for creative industries at national and regional level. The goal of the research is to assess whether it is possible to draft useful policy for the creative industry without having specific quantitative data at its disposal, which is often the case when such policy is being newly developed. The (...) methodology used is a brief literature review, and a case study. The case study regards policy development for the architectural sector in the East-Slovak region of Košice, which was executed by the authors in the context of the assignment to draft a strategy for development of the creative economy of the Košice region. Statistical data presented in this research were generated in the context of that assignment.The authors found that in the case of Slovakia and the region of Košice, the availability of data on the creative industries as a new policy area is very limited. Both at national level and at regional level, qualitative data and information are most useful for formulating policy. This is possible among others because qualitative needs’ assessment is feasible; international literature and best practices provide a guideline for formulating policy; and because general policies can address specific requirements through demand driven projects. The implication of the research is that specific quantitative data on the creative industries does not need to be considered a conditio sine qua non for drafting and implementing policy for the creative industries. Quantitative data will be necessary for evaluating outputs and impact of policy, in terms of efficiency and effectiveness of public spending. The choice of indicators, and collecting, processing and interpreting of quantitative data shall be an integral part of the policy to be implemented. (shrink)

The stage of the formation and establishment of a market economy in Georgia raises the necessity for economic science to solve fundamentally different problems concerning the improvement of the investment environment and investment climate in national economy. After the collapse of the former Soviet Union, the replacement with new relationships has been quite difficult and painful in which foreign investments should play a crucial role. Issues to be discussed include the questions that explore some of the categories and the constraints (...) of the investment climate. All this leads to the relevance of the article and, therefore, determines the purpose of the article. The research process uses general dialectical methods of socio-economic research as well as modern methods of research of economic theory. The scientific aim of the research is to highlight the current issues of the investment environment and investment climate in economy, to study the transformation processes taking place in Georgia during the last two decades, to conduct analysis using proper methods, to show the current social and political as well as other important processes, to generalize them and to form proper opinions. Findings based on research suggest that it is possible to speed up the process of economic development of Georgia. However, the situation will remain difficult in the region and the factors causing the recession _ instability in oil prices and the weakening of the national currency against the US dollar will still be present. In conclusion, the opinion can be formed that a stable and predictable legislative process is important for the investment environment. Therefore, all the parties that may undergo the changes should be informed and involved in every project planned by the government; At present, it becomes necessary to further extend the deregulation policy, which should include the development of financial and investment sectors and support of the establishment of appropriate infrastructure, promotion of the further development of microfinance institutions, investment companies and funds, designing the system of investment insurance and stimulation, elimination of unnecessary bureaucracy and artificial barriers, etc. (shrink)

In this paper examines the roles and influence of China in the world and, mainly, in European Union. For a decade, Chinese investors have been looking for opportunities to buy european assets. Especially since the beginning of the 2008 crisis we observed an increase of investment activities of Chinese companies. During the crisis, cash troubled european companies due to loss of liquidity were forced to sell their shares at significant discount. Over time, with stabilizing the economic situation in Europe, European (...) companies asset prices seemingly ceased to be cheap, nevertheless a volume of Chinese FDI to Europe continued to grow. Our goal will be detailed insight into these investments and try to identify the benefits and risks of these investments. Moreover, this paper not only provide insight into economic development of Chinese FDI but also take into account political issues and background of these investment. As far as a methodology is concerned, the basis of our work will be comparing an impact of Chinese investments in European countries and their impact on economic development in selected countries. In particular, we are interested in the behavior of Chinese investors and their motivation to buy in Europe. At the same time it will also be interested in the motives of European companies that have decided to sell shares to new owners. Finally, we will also examine ways in which Chinese investors proceed with acquisitions in the EU. Data comes from Eurostat, the national statistical offices and stock market prices. We will also be examining the political influence on these countries individually and globally, therefore as part of the EU. Based on the gained information we will try to assess the current situation of China’s influence in the euro area and at the same time try to estimate its future impact. Finally, based on the detected information to analyze the results of our research. (shrink)

Why do organizations need to learn? This question will be discussed in this article, as well as the definition and characteristics of learning organizations. The reader will get a comprehensive description of a learning organization based on Peter M. Senge “The fifth discipline” to understand how a learning organization differs from traditional organizations. The final chapter will get an outlook that future learning processes within networks will have a stronger role, since it allows a better understanding between intraorganizational and interorganizational (...) learning processes. Purpose of the article: This article will lead you within the topic of learning organizations. It will set a first input to different approaches how a learning organization can be defined and get established.Through this the reader will get an impression that a common vision is very important for these approches. So this article will set a first trigger for the interested reader for learning organisazations. Methodology/methods: Literature study for creation of new knowledge due to scientific work.Scientific aim: The reader will get a comprehensive description of a learning organization based on Peter M. Senge “The fifth discipline” to understand how a learning organization differs from traditional organizations due to literatur study. The article will show that there is still a lot of research potential to create a role model concept for the implementation of a learning organizsation. Findings: Due to the inconsistent research results further multifaceted approaches remain to gather further research results. As more people will be employed in organizations, communication will become a more important component within a learning organization. Furher more a common vision is very important to establish a learning organization. Conclusions : Core issue lies in questioning how learning processes of individuals and within organizations are working. The various concepts for “learning organization” describing organizational learning, to constantly expand the learning ability of organizations and, consequently, the skills to solve problems from individuals and organizations itself. Here the integrative approaches e.g. the fifth discipline try to close the research gap and clarify the phenomenon of organizational learning.. Due to the inconsistent research results further multifaceted approaches remain to gather further research results. As more people will be employed in organizations, communication will become a more important component within a learning organization.. Different approaches showed the importance of communication within learning organizations as a fundamental component of those. Following the results of these concepts, it is important to promote collective learning processes so that organizational learning can occur.. In future learning within networks will get a more and more important role, as it allows to forster the understanding between intraorganisational and interorganizational learning processes.. (shrink)

Aim of the article is to present our research dealing with virtual reality modeling and education activities. It involves a chain of development steps: taking pictures of objects, collecting information, creation of 3D models and panoramas, setting up the interactive virtual reality environment along with educational support and testing the user experience with students. Methodology/methods of work: the creation of 3D models and panoramas is done by taking pictures of real objects and using them as textures. The education materials are (...) created as interactive presentations and the usability testing of these presentations should be planned. Scientific goal is to measure the quality of interaction by this education support in order to derive rules testing effectiveness of support, interactive applications and presentations. Findings: 3D models and other educational support materials may be created voluntarily by teachers. The open source library for many different models should be created by whole community provided suitable interfaces of modeling tools will be arranged. Conclusions: Complex educational and interactive materials including virtual reality and panoramas are satisfactory when combined with easy 3D models that are made from taken pictures, which could be made by teachers themselves and/or open communities by existing cameras. (shrink)