scholarly journals THE ROLE OF CORPORATE CULTURE IN ECONOMIC DEVELOPMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES

2021 ◽  
Vol 0 (0) ◽  
pp. 1-19
Author(s):  
Silvia Lorincová ◽  
Andrej Miklošík ◽  
Miloš Hitka
Keyword(s):  
Economic Development ◽  
Competitive Advantage ◽  
Corporate Culture ◽  
Industrial Sector ◽  
Business Environment ◽  
Direct Impact ◽  
Use Of Resources ◽  
Clan Culture ◽  
The Creation

Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification. It needs to be monitored and evaluated together with “hard” business indicators. The research explores the key values that should be applied in corporate culture at the strategic level to support the economic development of small and medium-sized enterprises. The differences between small and medium-sized enterprises operating in the industrial sector in Slovakia are defined. As managers have a direct impact on the creation of corporate culture, their preferences regarding corporate culture are examined, using the methodology of Cameron and Quinn. The results of the research prove the preference for applying key values typical for a clan culture. Following the results, it is recommended managers to focus on supporting a clan culture that develops employees. It is the employees who create and build values, bring new, innovative ideas, and with their abilities and skills influence the performance, competitive advantage, economic development, and success of the entire enterprise as well as economic development of small and medium-sized enterprises.

scholarly journals The Role and Significance of Corporate Culture in the Activities of Domestic Enterprises

2020 ◽  
Vol 24 (1) ◽  
pp. 113-118
Author(s):  
A. Melnyk ◽  
◽  
N. Davydenko ◽  
Keyword(s):  
Competitive Advantage ◽  
Personnel Management ◽  
Corporate Culture ◽  
Social Values ◽  
Business Environment ◽  
Basic Principles ◽  
Modern Business ◽  
Business Conditions ◽  
Labor Resources

Annotation. Introduction. Corporate culture plays an important role in business environment. As the activities of the staff, their attitude towards each other influences the activity of the enterprise, managers should pay attention and introduce a corporate culture in order to increase company’s efficiency. The phrase “corporate culture” firstly was used in the nineteenth century in military terminology by a German field marshal Moltke for relevant relationships in the official environment. There are many definitions of the concept of “corporate culture”, but there is a certain difference in the interpretation of the concept with the change of years and the depth of its research. Purpose. Modern business conditions require the introduction of corporate culture, so the leaders of domestic enterprises are increasingly seeking to apply foreign experience without exploring the differences between the Ukrainian market and foreign. Therefore, the purpose of the research is to study the role of corporate culture in domestic enterprises, as well as to identify the features of the formation of corporate culture in Ukrainian enterprises. Results. As a result of the research, we were found that corporate culture as a tool of personnel management is used in only 55% of domestic enterprises. In our opinion, it is necessary to promote the introduction of corporate culture in domestic enterprises, taking into account the national mentality and social values, and for this it is necessary to develop clear tools of corporate culture, basic principles and principles, and algorithms for their implementation in enterprises. These issues need detailed consideration and will be considered by us in further research. Conclusions. Summing up everything we can say that corporate culture is not only an instrument for managing the workforce of an organization. It forms an enterprise from the inside, influencing its image and profits. The presence of corporate culture in enterprises is a competitive advantage among others in the industry. Keywords: corporate culture; competitive advantage; personnel management; labor resources; enterprise efficiency.

scholarly journals Strategic Planning and Competitive Advantage of ICT Small and Medium Enterprises in Kenya

2013 ◽  
Vol 1 (1) ◽  
pp. 191 ◽  
Author(s):  
Zachary B. Awino
Keyword(s):  
Strategic Planning ◽  
Competitive Advantage ◽  
Small And Medium Enterprises ◽  
Critical Role ◽  
Dynamic Environment ◽  
Business Environment ◽  
Positive Influence ◽  
Balanced Score Card ◽  
Medium Enterprises

The Paper is the research findings on the role of strategic planning and competitive advantage of ICT Small and Medium Enterprises in Kenya. Literature suggests that the contemporary business environment in which organisations operate is increasingly becoming uncertain and unpredictable. Significant changes are mostly driven by technological changes, globalisation and trade liberalisation. As a result, like large enterprises, SMEs are facing new and unexpected challenges that threaten their competitiveness. While most countries acknowledge the critical role that SMEs contribute to their economies, both as an engine of growth and sustainable development, many questions still remain unanswered as to the determination of the critical challenges facing SMEs and how these challenges could be addressed to improve their competitiveness. These challenges have increased the need for empirical information which is essential for decision making in addressing issues that are likely to enhance SMEs survival and growth. It is noted that there has been no adequate research studies on the role of strategic planning and competitive advantage of SMEs. This study contributes to the need to address the research gaps and thus explored the role of strategic planning and competitive advange of SMEs in Kenya. The study population consisted of 238 ICT SMEs from Nairobi and its environs. A sample size of 146 firms constituting 61 per cent of the total population was selected through stratified sampling. The study aimed to collect data from 438 respondents from top, middle and lower management teams. Structured questionnaires with closed and open ended questions was used for data collection, 239 responses were received from 123 ICT firms a response rate of 55 per cent and 84.2 per cent respectively. Key characteristics of strategic planning including formality, environmental analysis processes both internal and external orientations, strategies adopted, and implementation and control were recorded. Data analysis was done using descriptive statistics, factor analysis, t-test, ANOVA, correlation, correlation matrixes and regression analysis. The key findings revealed that strategic planning has significant and positive influence in performance of SME’s. The test of hypothesis revealed that strategic planning has positive and significant influence on competitive advantage. The study demonstrated strategic planning as a learning tool and a strategic resource which is consistent with the underlying assumptions of resource based theory, systems theory, chaos theory and balanced score card model assumptions. It is envisaged that, this kind of research is likely to generate useful discussions on the role of strategic planning and performance, of SMEs. It is apparent that entrepreneurs of SMEs cannot ignore strategic planning as significant changes in competitive advantage is the result of change or effective application of strategic planning. Policy makers and academicians may need to address the capacity needs of SMEs and develop strategic planning model that address the challenges that SMEs encounter in a dynamic environment.

INVESTMENT LENDING AS THE BASIS FOR THE BREAKTHROUGH ECONOMIC DEVELOPMENT OF MODERN RUSSIA

2020 ◽  
Author(s):  
Konstantin Nikolaevich Yermolaev ◽  
◽  
Farrukh Fatoevich Salamov ◽  
Keyword(s):  
Economic Development ◽  
Financial Incentives ◽  
Technological System ◽  
Economic Order ◽  
World Economic ◽  
Institutional System ◽  
The Creation ◽  
World Economic Order ◽  
Advanced Development

the article is devoted to the disclosure of the essence and role of investment and credit support for the breakthrough economic development of Russia on the basis of the transition to the 6th technological system, the formation of an integral world economic order, the creation of an institutional system of advanced development and financial incentives

Creating Competitive Advantage in Scottish Family Businesses

2010 ◽  
pp. 230-251
Author(s):  
Claire Seaman ◽  
Stuart Graham
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Future Development ◽  
Business Environment ◽  
Family Businesses ◽  
High Quality ◽  
Diverse Environment ◽  
The Creation

This chapter seeks to consider both the role that knowledge transfer may have in family businesses and the different manners in which knowledge transfer may take place within this diverse environment. The economic, social and community importance of family businesses within Scotland is considered, alongside the different manner in which family businesses commonly operate and the implications for knowledge transfer. The importance of knowledge transfer in the creation of competitive advantage within a family business environment and the relatively limited nature of research in this area are explored, highlighting the need for further research both to support the on-going development of a strategy for family businesses in Scotland and to facilitate future development of high quality knowledge transfer. Key to all of this, however, is an increased understanding of what is meant by knowledge transfer and the breadth of ways in which it happens.

scholarly journals Transitioning Toward a Circular Economy: The Impact of Stakeholder Engagement on Sustainability Culture

2020 ◽  
Vol 12 (20) ◽  
pp. 8641 ◽  
Author(s):  
Daniela M. Salvioni ◽  
Alex Almici
Keyword(s):  
Corporate Culture ◽  
Circular Economy ◽  
Stakeholder Engagement ◽  
Business Models ◽  
Case Study Research ◽  
Use Of Resources ◽  
Health Related ◽  
Emerging Issues ◽  
The Impact

The circular economy transition increasingly points to the need for a change in corporate culture, namely toward sustainability. This change can be supported by improving relations with relevant stakeholders, engaging comprehensively with them, and creating strong awareness about issues such as ecosystem protection, health-related safeguards, and the careful use of resources. In this regard, through stakeholder engagement and a review of traditional business models, the circular economy can contribute to transforming the corporate culture to ensure the concurrent enhancement of economic, social, and environmental dimensions. This study verified the role of stakeholder engagement in establishing and strengthening the sustainability culture in a company transitioning toward a circular economy. The case study research methodology was applied, referencing a single firm—operating in the oil and energy industry—representing one of the best practices in the international context, even if some efforts are still required to reduce downstream emissions. The findings underline the contributing role played by stakeholder engagement in establishing values and principles compliant with environmental protection and community wellbeing. Thus, this study contributes to the existing stakeholder engagement literature and sheds light on the practical implications and emerging issues.

scholarly journals The Competitive Advantage of Nations: origins and journey

2015 ◽  
Vol 25 (5) ◽  
pp. 458-470 ◽  
Author(s):  
Robert Huggins ◽  
Hiro Izushi
Keyword(s):  
Economic Development ◽  
Competitive Advantage ◽  
Design Methodology ◽  
Cluster Theory ◽  
Unit Of Analysis ◽  
Content Type

Purpose – The purpose of this paper is to provide an understanding of the origins and journey of the fundamental ideas underpinning Michael Porter’s The Competitive Advantage of Nations as a means of assessing its influence. Design/methodology/approach – Drawing on a reflection of the book’s text and associated works by Porter, the paper shows how Porter’s thinking evolved from his earlier writings, as well as how his ideas went through further periods of development following the publication of The Competitive Advantage of Nations. Findings – The paper focuses on the emergence of Porter’s cluster theory and his growing acknowledgement of the role of innovation within processes of economic development. It shows how these concepts have provided a foundation for contemporary economic development practices. Also, the paper highlights how the fundamental concepts of Porter’s text have shifted from a unit of analysis focused on nations to one where subnational regions are the primary analytical unit. Originality/value – The paper concludes by suggesting that the nature of Porter’s conceptual insights is likely to ensure the long-term endurance of the fundamental lessons contained within The Competitive Advantage of Nations.

Fake friends: The illusionist revision of Western urbanology at the time of platform capitalism

Urban Studies ◽  
2019 ◽  
Vol 57 (5) ◽  
pp. 1105-1117 ◽  
Author(s):  
Ugo Rossi
Keyword(s):  
Economic Development ◽  
Value Creation ◽  
Economic Value ◽  
Original Formulation ◽  
Liberal Democracies ◽  
Close Relationship ◽  
Development Processes ◽  
The Creation ◽  
Policy Proposals

It is generally assumed that the so-called populist explosion that has swept across liberal democracies since 2016 has led to a crisis of neoliberal reason in its original formulation. Owing to the close relationship between cities and neoliberalism, the crisis of neoliberal rationality has significantly impacted what is defined here ‘Western urbanology’. This definition brings together influential apologists of the urban age and its entrepreneurialist potential, starting with Richard Florida and Edward Glaeser. In recent times, these authors have started revisiting their conceptions and related policy proposals, in response to the growing sense of dissatisfaction with mainstream theorisations of economic development that has been associated with the populist explosion of 2016. However, this article shows how their revisions are minimal, and fundamentally illusory, as these authors have glossed over the very foundations of capitalist societies, drawing a veil over the issue of economic-value creation within contemporary platform urbanism. After having critically assessed the trajectory of Western urbanology, the article concludes by arguing that a substantial revision of the role of contemporary urbanism in economic development processes would require interrogating the creation and capture of economic value in today’s capitalist societies.

scholarly journals The role and importance of internal control and internal audit in the prevention and identification of fraudulent actions in banks

Bankarstvo ◽  
2021 ◽  
Vol 50 (1) ◽  
pp. 66-89
Author(s):  
Snežana Knežević ◽  
Aleksandar Živković ◽  
Stefan Milojević
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Internal Control ◽  
Financial Services ◽  
Internal Audit ◽  
Financial Sector ◽  
Business Environment ◽  
Efficient Management ◽  
Range Of Functions

Modern banks have a specific role and a whole range of functions of paramount importance, as financial institutions for granting loans, creating loans, mobilizing savings and economic development. In the financial sector, there is a growing number of people who are using increasingly innovative and creative ways of targeting all perceived weaknesses in banks and credit approval systems. The persons committing fraud have become increasingly sophisticated, which means that measures to prevent fraud must be constantly developed to ensure that they are able to deal with the threat. The fight against fraud is crucial for financial services institutions. This article aims not only to briefly describe the role of internal control and internal audit in detecting possible fraud in banks, as profit-oriented organizations in today's complex and highly changing business environment, but also to point out the advantages they have in the more efficient management of bank activities.

scholarly journals Driving Innovation Through Transformative HRM

2020 ◽  
Author(s):  
Tatjana Jovanović ◽  
Keyword(s):  
Resource Management ◽  
Human Resource Management ◽  
Competitive Advantage ◽  
Human Resource ◽  
Corporate Culture ◽  
Talent Management ◽  
Multinational Companies ◽  
Academic Experience ◽  
The Creation

In a World that is constantly and rapidly changing, innovation is found to be one of the very few sources of competitive advantage. Under such circumstances, it is of utmost importance to create foundation, a competitive base, which will enable innovation from within. This paper provides a portfolio of practical initiatives and discusses how they can drive and move forward company's transformation through the creation of a corporate culture that backs up innovation - all based on a combination of practical and academic experience obtained through the author’s broad professional engagement in multinational companies over many years. Particular emphasize is placed on a number of showcases in transformative human resource management that illustrate how, in practical terms, architecture of employees’ engagement and talent management could be established within an organization to drive a critical impact on the organization’s ability to create a sustainable company-wide culture of innovation.

scholarly journals From the accidental to articulated smart city: The creation and work of ‘Smart Dublin’

2017 ◽  
Author(s):  
Claudio Coletta ◽  
Liam Heaphy ◽  
Rob Kitchin
Keyword(s):  
Economic Development ◽  
Smart City ◽  
Smart Cities ◽  
The Other ◽  
Extensive Literature ◽  
Common Framework ◽  
The Creation ◽  
The One ◽  
The City

While there is a relatively extensive literature concerning the nature of smart cities in general, the roles of corporate actors in their production, and the development and deployment of specific smart city technologies, to date there have been relatively few studies that have examined the situated practices as to how the smart city as a whole unfolds in specific places. In this paper, we chart the smart city ecosystem in Dublin, Ireland, and examine how the four city authorities have actively collaborated to progressively frame and mobilise an articulated vision of Dublin as a smart city. In particular, we focus on the work of ‘Smart Dublin’, a shared unit established to coordinate, manage and promote Dublin’s smart city initiatives. We argue that Smart Dublin has on the one hand sought to corral smart city initiatives within a common framework, and on the other has acted to boost the city-region’s smart city activities, especially with respect to economic development. Our analysis highlights the value of undertaking a holistic mapping of a smart city in formation, and the role of political and administrative geographies and specialist smart city units in shaping that formation.

Sign in / Sign up

Export Citation Format

Share Document