Knowledge of consumer behaviour is an important factor in the success of companies. Knowing how the consumer behaves and what factors influence him enables companies to manage the marketing mix, branding and communication more effectively with customers. Identifying the factors that affect consumers is sometimes very difficult to identify correctly, because very often they are internal factors.The current situation currently prevailing in global markets is mainly influenced by external factors – the COVID-19 pandemic and the effects of political and legislative steps and the economic situation. That is, the factors that both customers and retailers had to adapt to. The author aims to identify changes in consumer behaviour when buying basic products – food, drugstore goods, clothing and footwear and electronics during the pandemic of COVID-19. The aim of this article is based on analysis of primary, secondary data and marketing survey to identify changes in consumer behaviour because of political, legislative, and economic factors caused by the spread of illness COVID-19. The result will be the evaluation of changings in consumer behaviour because of the pandemic of COVID-19.

Financial reporting still raises doubts and concerns among large and small entrepreneurs. When analyzing financial statements, the recipient often asks whether the current comprehensive forms of financial statements are not too vague and confusing. Data disclosed in the financial statements are often not easily read by ordinary users or even analysts. Maybe now it is worth looking for other new solutions that will allow business managers to obtain basic financial information from the financial reports in a quick and immediate way. The increase in competition and financial crises caused the largest number of bankruptcies in the group of small and medium enterprises. And it is to these small economic entities that it is worth facilitating the process of analyzing financial data. For this group of enterprises, it is worth highlighting in the financial statements those data that may inform about risks in conducting and continuing further operations. The article presents a balance sheet model for small business entities. Its layout and formula is designed to lighten the picture of the company’s financial situation and provide the most important information on the company’s financial safety.

Nowadays, the customers often feel in danger in current unstable and unpredictable period of industrial, political, social and economic transition. In this environment, the weakened individuals find themselves in search of security references, identity, well-being, dream, emotion and re-enchantment, and consequently they want to return to the past and their memories, yearning for a sense of security and stability. They become nostalgic, seeking values of authenticity. On this basis, enterprises develop a strategy of nostalgic brands that appeal to the emotions, experiences and memories of the consumers. As a result, the basis of relations between the consumer and the brand is nostalgia, which is a positive attitude towards brands that are directly or indirectly related to the consumer’s past. The aim of this article is to evaluate the possibilities of implementation of the strategy of nostalgic brand. The results of own empirical research conducted in 2018 on a group of 16 international experts are presented. Both French and Polish experts positively evaluated the potential of nostalgic brands. Some differences in the opinions of the French and Polish experts are visible. The proposition of model of the nostalgic brands positioning is also presented. According to the experts, the basic principle for positioning of the nostalgic brand is having a strong brand history. Nostalgic brands are recommended for the following sectors: fashion, food, cosmetic (especially perfumes), luxury products, automotive, high-tech (music), entertainment and decorative. The results can serve as a guide for managers in implementing the strategy of nostalgic brand and can help identify the crucial elements needed for positioning of the brand based on the nostalgic feelings.

We live in a world where we collect huge amounts of data, but if this data is not further analyzed, it remains only huge amounts of data. With new methods and techniques, we can use this data, analyze it and get a great advantage. The perfect method for this is data mining. Data mining is the process of extracting hidden and useful information and patterns from large data sets. Its application in various areas such as finance, telecommunications, healthcare, sales marketing, banking, etc. is already well known. In this paper, we want to introduce special use of data mining in education, called educational data mining. Educational Data Mining (EDM) is an interdisciplinary research area created as the application of data mining in the educational field. It uses different methods and techniques from machine learning, statistics, data mining and data analysis, to analyze data collected during teaching and learning. Educational Data Mining is the process of raw data transformation from large educational databases to useful and meaningful information which can be used for a better understanding of students and their learning conditions, improving teaching support as well as for decision making in educational systems.The goal of this paper is to introduce educational data mining and to present its application and benefits.

It is assumed that, agricultural cooperatives are solving members marketing problem. However, members were not properly used cooperatives as market outlet in the study area. The specific objectives of the study were to assess wheat market outlet choices and analyze factors that determine wheat market outlet choices of members. The survey research method was used to accomplish this. The primary data were collected from 134 randomly selected respondents. The secondary data specific to the study area were collected from documents and records of agricultural cooperatives. The data was analyzed using the descriptive statistics and binary logistic regression. The analysis showed that only 23.10 % of sample respondents were selling their wheat produce through cooperatives where as 76.90 % were selling to other market outlet than cooperatives. The model showed that eight variables have a significant effect on the wheat market outlet choices of members. Those are education, dividend payment, quantity produced, access to training, access to extension service, market information, and trust on cooperatives, have a positive significant effect on wheat market outlet choices of members while mode of sell/payment system have a negative significant effect. Based on the study results, the following recommendation were given to choose cooperatives as a market outlet. Necessary training concerning the benefits of cooperatives in general and marketing in particular should be given to cooperatives by concerned body. There should be trust among members and cooperative leaders. Dividend must be paid based on the cooperative bylaws. Appropriate extension service must be given to cooperative members so as to increase the quantity of produces. In addition, providing marketing information timely is very crucial. Finally, mode of sell/payment system is advisable if it is on cash instead of paying on credit.

Water companies have become an important subject of analysis by international scholars to contribute to the sustainable development of each country. In this sense, it is also interesting to verify the financial sustainability of these companies over time. The paper aims to analyze in particular the financial dynamics of water companies operating in sales phase. To this end, the financial statements of Italian companies from the AIDA database for the period 2008-2017 will be used. In this way, a summary picture will be drawn of the possible financial sustainability of these companies over time.

Stakeholders realise the value and impact of Responsible Investment (RI) upon making informed decisions about investments. Due to this, more organisations are pressured to report on RI performances and put positive and/or negative strategies in place to address ESG issues and to implement ESG policies into the primary strategy of their operations. There are many governments and organisations globally which support sustainable investment and as one such administration, South Africa has legislated to manage RI issues (www.gov.za). Recognition is given to the both CRISA and PRI as well as taking the integrated environmental, social and governance (ESG) considerations into the investment decision making process into consideration when assisting in identifying, managing and mitigating potential ESG risks to achieve sustainable long-term investment outcomes.

The study aimed to identify the impact of E-Commerce (regulations and legislations, infrastructure, manpower) on stimulating investment in the Kingdom of Saudi Arabia. We applied the descriptive-analytical method for achieving the study objectives. The questionnaire was administered to collect the data that were then analyzed using the SPSS system to provide answers for related questions and hypotheses. A random sample of 250 volunteering investors was taken, and the number of respondents reached 202 respondents, which represents 81% of the study population. We found that there is a significant impact of E-Commerce on motivating the investment and the existence of a statistically significant correlation between the independent variables as a whole were confirmed. The study also finds a substantial impact of the age variable on the investment in the KSA at the level (α=0.05), and the differences emerge of the age group (31-40). A few recommendations are provided, such as intensifying the studies within the subject domain by using different research methods. Further, another recommendation is to conduct different practical scientific studies on the state level to develop a structured and gradual mechanism for converting 85% of the conventional retail sector to E-Commerce in accordance with the KSA vision in 2030.

Historic records show that the cost of operating and supporting an aircraft may exceed the initial purchase price as much as ten times. Maintenance, repair and overhaul activities rep- resent around 10-15% of an airlines annual operational costs. Therefore, optimization of maintenance operations to minimize cost is extremely important for airlines in order to stay competitive. Prognostics, a process to predict remaining useful life of systems and/ or components suffering from aging or degradation, has been recognized as one of the revolutionary disciplines that can improve efficiency of aircraft operations and optimize aircraft maintenance. This study focuses on literature that has used prognostics to optimize aircraft maintenance and identifies research gaps for further optimization of aircraft maintenance in commercial aviation. In this paper, the origin and development of prognostics is firstly introduced. Thereafter, the state of art of aircraft maintenance is reviewed. Next, the applicability of prognostics to optimize aircraft maintenance is explained, reviewed, and potential challenges and opportunities are explored. Finally, the state-of-the-art of prognostics in aircraft maintenance is dis- cussed and research gaps are identified in perspective of the deployment of prognostics to optimize aircraft maintenance.

TCCs are seen to be a procurement model capable of achieving value for money through aligning the objectives of the parties to reduce costs. The use of Target Cost Contracts (TCCs) within the UK construction industry has increased dramatically over the past few years. TCCs have been employed successfully on recent large scale projects such as Heathrow Terminal 5, Crossrail Procurement Strategy and the 2012 Olympic Games and Paralympic Games Infrastructure. Due to the success of TCCs over recent years, many clients are now turning to them in a bid to obtain value for money. However, it seems that they do not always drive parties to minimise costs and provide value for money. This research paper investigates the extent to which TCCs promote collaborative behaviours and provide value for money within the UK construction industry. More particularly, the research explores the following: which projects TCCs should be used on and how the maturity of the design when agreeing the target cost can affect value for money; how setting both the target cost and the pain/gain mechanism can affect the incentivisation of the contractor to minimise costs; the extent to which TCCs promote collaboration between the contractor, client and supply chain; and what is required to manage a TCC post-contract to ensure that incentivisation is maintained. It has become apparent from the research that TCCs are complex procurement models which require extensive consideration and management to ensure parties are incentivised to minimise costs. The research reveals that although TCCs can promote collaborative behaviours and provide value for money, there is a prerequisite to doing so: developing and managing the TCC correctly to ensure that the objectives of the parties are aligned.

Advances in technological possibilities have made communication present in different media and spaces. By enabling interaction between different countries, by becoming a facilitator between knowledge and innovation in the globalized world, it has opened frontiers by providing innovations in various sectors of the knowledge society. In this sense, the objective in this article is to map the intersection of communication, innovation and knowledge in the globalized world. To that end, the methodology used in the research was the systematic search of literature that pointed out that the intersection is motivated by the use of innovative technologies in the process of knowledge sharing, and studies are still scarce in this area. It is possible to perceive, further, that this intersection is branched out, through Social Sciences, Business, Management and Accounting, Computer Science, Medicine, Engineering, Decision Sciences, Nursing, Arts and Humanities, Economics, Econometrics and Finance, Psychology, aligned Health Professions, Agricultural and Biological Sciences, Biochemistry, Genetics and Molecular Biology, Energy, Environmental Science, Mathematics, Materials Science, Multidisciplinary, Neuroscience, Pharmacology, Toxicology and Pharmaceutical and Veterinary.

The paper analyzed the impact of taxation on economic development in Nigeria as it concerns value-added tax (VAT), Company Income Tax (CIT) and Petroleum Profit Tax (PPT). For the purpose of this study, the major source of data was a secondary source. Data were collected from the Central Bank of Nigeria Statistical Bulletin and Federal Inland Revenue Services. The data collected were analyzed with Ordinary Least Square Multiple Linear Regressions since there were more than two variables. The analysis revealed that all the independent variables (VAT, CIT and PPT) used in this study have a significant positive relationship on the dependent variable (GDP), which is used to measure economic development while value-added tax, company income tax, and petroleum profit tax were used to measure taxation. It was therefore recommended that the government should extend its database to capture all tax revenue by employing practically and technically oriented professionals. Results also imply it is recommended for the government to foster a favorable environment for young entrepreneurs to initiate and grow businesses that will lead to an increase in tax revenue for the government. It was also recommended that social science, which is the umbrella that covers management sciences, should be employed to manage businesses so as to ensure the survival of businesses and boast the nation’s revenue through tax, as it concerns training having an impact on resources utilization and allocation, thus promoting profit maximization.

The research focuses on scientific instructional approaches which take into consideration the impact of such factors as influence and motivation and thus can help provide guidance on practical classroom techniques that can help in fortifying the students’ success in mathematics. The paper investigates ways to achieve better math results among students by stimulating their motivation using active learning paradigm. The study aims to explore the methods of active learning applied in primary school math classes. Our results appear to add to the literature supporting the supposition that active learning has a direct effect on the students’ success and consequently, their achievement. We provide empirical evidence for factors predicting higher math learning achievement, and accordingly, propose an improved student-centered active learning teaching method to help students develop higher-order problem-solving skills, comprising of a combination of previously verified strategies which help to foster a positive attitude towards mathematics.

In times of progressive digital transformation and constant change, a continuous reorientation of stationary retail is indispensable in order to be successful in the future. The practical recommendations for action provide a guideline for the transformation of stationary retailing based on digital change processes. Various factors are taken into account, which is identified as critical success factors for stationary retail. These include a reorientation of the business model, the introduction of new digital technologies and data protection. In general, stationary retail must rethink the business model holistically and be open to radical innovations in order to be successful in the long term. More than ever, the influence of digital technologies and the influence of online retailing can be felt. Adapting successful digital and technological megatrends is, therefore, a critical success factor. If the necessary change is lacking in stationary retail, successful digital companies – such as Amazon or Alibaba – will replace entire industries. Subtotaling, the following questions are answered: What problems does stationary retail face – caused by the digital transformation? What digital solutions already exist? How can stationary retail remain successful in the digital age?

Mass tourism is a significant contributor to the development not only of regional but also national economies and generally, it is presented by tourism destination. Despite certain tendencies in preference for individual tourism, it is expected that mass tourism and mass tourism destination will continue to play a dominant role in the future. The present paper is dedicated to the topic of possible usage of modern tools of marketing communication in the management of mass tourism destination. Particular characteristics of its product are having an influence on the usage and effectiveness of traditional forms of marketing communication (advertising, exhibitions, etc.) in the presentation of a mass tourism destination and on the other hand, the possible preference of using new modern trends of marketing communication. The aim of this article is based on analysis of primary, secondary data and field observations to evaluate the possibility and critical factors of usage of selected forms of modern tools of marketing communication like internet marketing, social media, mobile marketing and the world of mouth marketing, etc. The result will be the evaluation of usage of modern marketing communication and its current state of the application in the propagation of mass tourism destinations including a proposal of some recommendations for their next application.

The use of social media and digital marketing is nowadays becoming a strategic tool in terms of building brand awareness and running a marketing campaign. Shifting from the era of conventional or mass media, by using social media and digital marketing, the marketers can track brand’s competitors and have more measurable campaign results. The usage of having these online activities is also to know about people’s opinion about the product, building brand reputation, and most importantly very targeted for the millennials. The study is descriptive in nature. The study used The Hook Canvas Model in Marketing by Nir Eyal. The study objective is to investigate why social media and digital marketing is significant to do branding and marketing activities lately, and what are the proper steps for doing so. The description is based on the explanation of social media and digital marketing usage, especially for Millenials era, explaining the steps of doing digital and online campaign, while also describing The Hook Canvas Model by Nir Eyal for the latest social media and digital marketing phenomenon. The data used in the study include interview, observation, and library research. The data were analyzed in three stages, such as reduction, presentation, and conclusion drawing. The results of the study show that social media and digital marketing campaign are not only useful to create brand awareness and engage the customers but also crucial in terms of measurement. By doing these kinds of marketing efforts (digitally), the effectiveness of each campaign can be measured, the behavior of the customers or even the potential ones could be tracked beforehand, and the reach of the message could be spread wider rather than making only traditional marketing efforts. social media in digital marketing

As an increasing number of companies operates in international markets characterized by global competition, many traditional manufacturers augment their product offerings with services to gain competitive advantage. As servitization needs change throughout the company, many companies struggle on the transition from a product – to a service centric business model. The dynamic capabilities view analyses capabilities in changing environments and could therefore be an interesting theoretical lens for servitization research. Building on existing case research of dynamic capabilities in a servitization context, we analyze the impact of dynamic capabilities and especially of sensing, seizing and reconfiguration capabilities on firm performance in a servitization context. Additionally, we analyze the moderating role of environmental turbulence. The results, which are based on 206 manufacturing companies, show that dynamic capabilities are an essential factor for the performance of a firm in the context of servitization. We find a significant impact of sensing and reconfiguration on firm performance, whereas seizing has no significant impact. We fail to confirm a significant moderating impact of environmental turbulence, which indicates that dynamic capabilities are important in a servitization context indifferent of environmental turbulence. However, we find indication that reconfiguration is more important in relatively stable contexts, whereas sensing is more important in turbulent environments. We contribute to the literature on servitization and dynamic capabilities by creating evidence that dynamic capabilities have an impact on firm performance in a servitization context. This has practical implications as well: Managers in servitizing companies should assess their dynamic capabilities and should especially focus on reconfiguration in relatively stable environments and on sensing on turbulent environments.

The transfer of a business to the next generation is a very important issue entailing several different social and economic influences. Failed business successions cause a loss of jobs, company knowledge and innovation potential. Creating an environment where business transfer is supported should therefore be of major importance for company owners and for policy makers. For better succession planning it is important to know the obstacles and challenges associated with business succession. Especially Eastern European countries face many challenges as these countries have no experience in business succession. To analyze the obstacles and challenges of business succession in Central Europe, three Eastern countries (CZ, SK and PL) with no experience in business succession were analyzed and compared to Austria where half of family businesses are at least in their second generation. Literature analysis and two focus groups with stakeholders (local public authorities and private entrepreneurs) were undertaken in all four countries. The results show that one of the main obstacles and challenges for business succession is the absence of a successor. Especially in Austria, this is recognized as the main obstacle. The Eastern countries (CZ, SK and PL) face different challenges to Austria that can mainly be explained by the lack of experience and supporting schemes for business succession. Especially knowledge and awareness related obstacles play an important role in Eastern European countries. Business succession is an individual process involving many emotions; therefore psychological and social issues are perceived as a huge obstacle in each analyzed country. Austria has a lot of experience with successful business transfers and offers various support mechanisms. However, many similar problems to Eastern countries were detected. A change of the business succession environment and the raising of awareness of the topic is therefore necessary in all investigated countries.

This paper adapts existing international educational models to address collaborative education using innovation hubs as the coordinating mechanism. Our goal is to improve global engagement and mobility of students during their educational path. In this paper, we address challenges in international education through an approach based on collaboration among universities with innovation hubs. We base our discussion on theories of organizational change and knowledge management. Qualitative data collected from three partner universities, two in Germany and one in the United States, are presented. Each had specific innovation hubs but none used these resources in a structured international context. We explore ways in which an innovation hub developed and operated by multiple international education partners might be an appropriate platform for new ways of collaboration. An innovation hub might provide a mechanism by which global partners learn in rich ways across diverse platforms, norms, and motivations. Theory grounded in organizational adaptation, open innovation and global education suggests that integrating an innovation hub with international education programs may yield effective results at the individual (students, staff, faculty) and the organizational (intellectual property, reputation, etc.) levels. Desired outcomes include creating mutual benefits through collective knowledge generation and implementation of new ideas. We conclude that implementation of this model would involve a change process, thus specific characteristics and indications for change management should be applied. We offer recommendations for implementing this model and discuss implementation options and the involvement of global partner faculty, students, and staff.

The global environment of organizations requires from management to respond promptly to the demands of a changing environment, both external and internal, requiring managers to continually develop their skills, especially in the area of soft skills. The current management of organizations, in an effort to make the most of their employees’ potential, seeks to promote an individual approach to their motivation, expresses an increased interest in employee satisfaction and loyalty, encourages employee involvement in achieving organization goals, seeks to apply W-L-B and more. This requires managers to have a high level of social skills and an appropriate leadership style that considers both the needs of the individual and his cultural background. Highly productive employees are the key to success for all organizations, they are the key to a competitive advantage in the global business world. At present, there is a strong pressure on organizations to behave in the spirit of corporate social responsibility both by senior staff and by the general public. Highly required is a style of leadership that honors basic ethical principles in any country. It should be stressed that there are still organizations that do not respect, for example, the need for ethical leadership, ethical decision-making at all levels of management and all employees. The aim of the paper is to point to preferred leadership styles especially in the younger generation, helping to increase their job satisfaction and productivity, as well as those of managers who will support this effort in a culturally diverse environment. In the submitted analysis of the topic selected scientific methods were applied such as e.g. a critical analysis and synthesis, comparison and deduction.

This article summarizes some of the content and conclusions of the author’s recent book, Consumer Product Innovation and Sustainable Design, which discusses the innovation, design and evolution of six consumer products –bicycles, washing machines, vacuum cleaners, electric lamps, television and mobile (cell) phones – from their original inventions to the present. It discusses common patterns of innovation, how environmental concerns and legislation have influenced design, and some of the effects these products have had on the environment and society. The article also uses lessons from the successes and failures of examples of these products to draw out guidelines for designers, engineers, marketers, managers and educators on how to design successful new products and to design for the environment. It concludes with trends and sustainability challenges for future consumer product design and innovation.

Financial theory suggests that volatility affects average stock returns positively. It is claimed that markets reward economic agents for the risk they assume with higher returns. This study uses an ARMA (1, 2)-GARCH (1, 1)-M technique to examine the impact of volatility on BRVM stock returns in the integrated regional West African stock market. A positive but insignificant relationship was found between volatility and stock returns. The study concludes that there is no significant feedback from volatility to average returns in the stock market. Our findings indicate that investors are not compensated for taking risks in the regional stock market.

Lately, the issue of black money and corruption has appeared into the forefront following a sequence of scandalous activities regarding finance. Generation of black money and it is stashing abroad in tax havens has predominated discussions and debate in public fora recently. Everybody is anxious over the issue especially after the publication of few expert reports relating to vast estimates of unaccounted property abroad. After noisy turmoil in Parliament, the Government of India has been pursuing new policies and principles on the issue of black money and corruption in public life and has constituted several committees and teams to look over the matter. This paper explains various facets and dimensions of black money, tax evasion and their critical relationship with the policy and administration in India. An attempt has also been made to discuss the causes leading to the generation and estimates of black money and tax evasion and present the strategies adopted by the Government to tackle the issue.

The relatively new phenomenon called sharing economy, or collaborative consumption, is best known by the companies like Airbnb and Uber. These companies use mobile applications and web platforms to match people willing to share a room or a car with others who need a ride or a place to stay. The peer-to-peer economy has disrupted traditional business models and upset the regulatory status quo (Shueh, 2014). Sharing economy has challenged mature industries, such as hotels, restaurants, cars, by providing consumers with convenient and effective access to resources without the financial, emotional or social burdens of ownership. In that sense, sharing economy is also an access economy (Eckhardt & Bardhi, 2015). There is a whole bunch of new startups springing up and joining the sharing economy movement. Companies are inventing new ways of integrating customers in their value creation processes in order to enhance the success of new service concepts. In this study, sharing economy is defined as a set of practices and business models based on horizontal networks and the participation of a community (Ouishare; Ismail, 2014). The aim of this study is to increase understanding of how the new networked startups operate and how they create value for their customers. We especially look at the role of platforms, the innovations in organizing the business and the role of the networks and communities. The data is collected from a Finnish sharing economy startup operating in the restaurant industry (lunch leftovers). The early stage startups’ business model is compared to the leading startups in the sharing economy. The data is collected by interviewing the entrepreneurs, drawing the customer journeys and visualizing the elements of their business models. A case study is used as a method because the study aims to explain what kind of business models sharing economy startups use and what is the role of the different elements in their success in partnerships, resources, customer relationships, and communities. A Case study is relevant when the study requires an extensive and in-depth description of the phenomenon (Yin, 2014). As a result, this study will provide insight into how the new sharing economy startups organize their businesses to create unique value for the customers. This article will contribute to the increasing interest of enhancing customer experience and raise some key elements for the success factors of the sharing economy. Also, the study will highlight the possibilities of digital platforms enhancing the growth and internationalization of startups.