Business Excellence and Management

5-17

Authors: Radojko LUKIC, Miro SOKIC, Dragana Vojteski KLJENAK

Efficiency of the banking sector has, due to its significance, lately been increasingly analysed by individual countries, through the application of modern economic and mathematical methods and models. This is the case with the banking sector in the Republic of Serbia, as well. For this particular reason, the paper deals in a 2016 efficiency analysis of the banking sector of the Republic of Serbia by applying the Data Envelopment Analysis (DEA) analysis. The obtained results of the survey conducted on the sample of thirty (30) banks show that only eight (8) banks were business efficient. With the view of increasing the future business efficiency of the entire banking sector (in particular of the inefficient banks),it is necessary to more efficiently manage the assets and liabilities, human resources, capital, operating income and profit. Moreover, there is a need for a more efficient cost management through the application of modern concepts, such as cost accounting by activities and/or Japanese business philosophy.

5-18

Authors: Ruth Wambugu GICHANGA, Herman Karanja MWANGI, Evanson Mwangi KARANJA

Cooperative societies are viewed as an alternative model of doing business. The subsector has been reliably earmarked in the realization of Kenya’s economic blueprint dubbed Vision 2030 through the savings and investments. The purpose of the research empirically measure, the effects of Quality Management systems on the performance of Savings and Credit Co-operatives Societies, in Kenya. The population consisted of all ISO certified cooperative societies in Kenya and from all the sectors in the Kenyan economy, public, private and parastatals. A survey was conducted on all ISO certified cooperative societies and later Purposive sampling was used to select employees from the various management levels, top, middle and lower cadre employees, that formed three strata. The data for the study was collected from 60 employees of the ISO certified Sacco’s in Kenya, in various management levels. The study concluded that the savings and credit cooperative societies in Kenya should be adopt the quality management system in order to improve their products and satisfy customers, and though they may not realize profits immediately, management of quality will finally pay as customers appreciate their products and services.

5-12

Authors: Alexandra Mirela Cristina MUNTEANU

This paper investigates the benefits of Lean Six Sigma’s deploying in Romanian’s economy. After a brief introduction pointing out the advantages of Lean Six Sigma, Lean Six Sigma concept is introduced. The synergy of Six Sigma and Lean is presented as well as a conceptual model that illustrates the possible way of their integration into a tool to optimize business processes. The paper introduces DMAIC methodology, incorporating key elements of both methodologies, Lean Six Sigma’s main tools and application field. The paper presents the stage of Lean Six Sigma implementation in Romania, for large organizations and SMEs, their specific management quality’s problems and evolution during the last period.

27-45

Authors: Florentina PÎRJOL, Lia Lucica RADOMIR

The present paper, entitled "The role of internal communication on the efficiency of the activity in an organization", aims to identify the importance of internal communication in any organization and especially to identify the way in which the strategy of an organization is influenced by an efficient internal communication This paper aims at studying the internal communication within an organization. Thus, passing to communication in a particular way, namely to the communication within organizations, we can say that it also has a vital role and represents the key to its effectiveness. All members of an organization communicate daily to ensure the proper functioning of the company’s goals. Regardless the position of those who participate in the communication, the clarity, the choosing of an appropriate language and also the encouragement of staff to communicate must be ensured. The manager, being the one who coordinate the team, the department and even the organization, must deliver efficiently the information and also know how to coordinate it. The communication climate must be a proper one and it is influenced by several factors: in an indirect way by the culture, nature and tradition of the organization and in a direct way by the relations between employees, by the management and by the existence of communication networks.

72-93

Authors: Diana ARMEAN, Maria-Larisa ARDELEANU

The paper presents the stage of knowledge the cost-volume-profit analysis (CVP analysis), namely the principles, objectives and its usefulness for the performance management. The main objective of the paper is to implement the CVP analysis by calculating activity indicators on a Romanian company. To achieve the main goal of the research, we approached concepts such as costs, revenues, production volume, profit, decision making, what if analysis needed by the management to develop different scenarios on production volume, cost, sales price that lead to conclusive decisions in the near future. The research methodology corresponds to the research objective and is circumscribed to an archival research regarding literature review and the exploratory case study to highlight the effects of CVP analysis on the outcome by modifying the various factors. The basis of the research is the company Boromir, in which we studied the impact of CVP analysis on bakery activity. In order to apply the presented concepts, we highlighted the usefulness of CVP analysis in the decision making process. The main result of the research is that the CVP analysis applied to Boromir can give it various opportunities to maximize profits for the upcoming period. The projected scenarios at the company level have led to the possibility of adopting strategic decisions such as investing in promotion, reducing the sales price and changing the structure of fixed and variable costs in total costs.

5-13

Authors: Asser KHAMIS

An institutional system timetable for performance evaluation and quality control within higher education institutions is done for higher education institutions to carry out a periodical self-assessment study for development engagements for maximizing points of strength and improving points of weaknesses based on the selfassessment reports recommendations and feedback. Research collaborations are clearly focus priority for institutions large, while the mobility of outgoing students is in first place for small institutions.

28-44

Authors: Mihaela MAȘCU

Ensuring the educational services quality represents a safe path to competitiveness and raising the quality of living. The initial and continuous improvements are fundamental actions for the existence and development of human beings. For this purpose, modern society must permanently emphasize the role of quality education regarding the enhancement of life. Awareness, compliance and the support through particular actions lead to improvement, which is a significant objective for all of the factors involved in the educational system. For that reason, the endorsement and implementation of modern systems meant to control quality are imperative to meet the requirements of the European Union. The accent must be put on strengthening all of the factors involved in the educational process, for the purpose of learning and putting to the test the principles, techniques and quality management methods. Under these conditions, the quality of educational services is a decisional factor for competitiveness and for the standard of living. To put together an educational offer, that meets the interests of the direct and indirect receivers, the educational institution is using SWOT analysis. SWOT analysis is not only an analysis tool but it is also a tool for planning future actions of the institution. Through this analysis we can identify the main strong and poor spots of the institution, along with threats and external opportunities.

66-73

Authors: Mihai VUŢĂ

Corporate governance is a very actual subject. After the financial world has faced during the 2000s several financial scandals, developing principles of corporate governance became necessary at international level. The 2008 financial crisis has highlighted the need for the existence of effective codes of corporate governance, which is why the OECD principles of corporate governance suffer changes, as well as national codes. The paper aims to highlight the application of corporate governance but also the role of internal audit in the company's activity. We appreciate that an effective, high-quality internal audit is the thing that, applying the rules of International Standards on Auditing, manages to detect the risks which may be subjected to the work of the Organization, to take action to reduce them so that the value of the company would not diminish.