Business Excellence and Management

24-29

Authors: Ştefan Dominic GEORGESCU

The paper refers to a distinction between limitative and generative ethics. The main idea is that, if ethics is to be of any help for managers, it has to provide applicable principles that can morally orient managerial decisions, and avoid abstract principles that are usually used not to help managers, but to sanction their decisions

38-56

Authors: Bilel JARRAYA

The main objective of Markowitz work is seeking optimal allocation of wealth on a defined number of assets while minimizing risk and maximizing returns of expected portfolio. At the beginning, proposed models in this issue are resolved basing on quadratic programming. Unfortunately, the real state of financial markets makes these problems too complex. Metaheuristics are stochastic methods which aim to solve a large panel of NPhard problems without intervention of users. These methods are inspired from analogies with other fields such as physics, genetics, or ethologic. Already various Metaheuristics approaches have been proposed to solve asset allocation and portfolio optimization problems. In a first time, we survey some approaches on the topic, by categorizing them, describing results and involved techniques. Second part of this paper aims providing a good guide to the application of Metaheuristics to portfolio optimization and asset allocation problems.

70-83

Authors: Alexandru TRIFU, Ina CROITORU

Numerous studies demonstrate there is an indestructible relationship between educating, training and motivating the young generation and assuring the well-being and progress of any economy, by providing the necessary features of the manpower. This study aims to emphasize the outlook of some important regions of the world economy, regarding the formation of manpower as a result of the implication of the education systems and governments representatives in this process, given the present economic and social environment. Furthermore, we also want to emphasize the difference between manpower and workforce, the last one being the physical approach of the labor. But, together with the ideas, skills, capabilities, competencies, charisma, the spirit to undertake the business risks, capacities for innovation, in a word, manpower + entrepreneurship factor of production is determining in the functioning of any economic activity, or business and support the progress and the trends towards wealth and well-being of any party involved in. The use of new terms, the reinvention of the work models, a stronger link of the economic phenomena and processes with the human factor, this is the current period main characteristic.