Economica

12

Authors: Iurie MALANCEA

This article presents the strategic perspectives for developing the company's image. Corporate image is a powerful source of competitive advantage that enables a company to generate long-term added value. Through the operational framework of brand management, the company addresses image strategically, starting with planning and ending with monitoring and continuous improvement of image aspects. Throughout the life cycle of the enterprise, the company’s brand concept goes through the process of launching, developing, and strengthening, which involves selecting strategic directions at the brand concept level (functional, symbolic, experiential). Approached from this perspective, the company’s image is strengthened in a consequential manner and, as a result, can have a long-lasting impact on the company's competitiveness in the market.

13

Authors: Tatiana DZIUBETCAIA, Natalia COSTOVA

Insurance, together with other market instruments, guarantees the stability of economic development and acts as a stimulator of economic growth, accumulating resources in the form of insurance premiums and transforming them into investments, thus increasing the efficiency of the entire financial system of the country. The insurance market contributes not only to the development of social reproduction, but also actively influences financial flows in the national economy through the insurance fund, constituting a significant part of the financial market in the country. In order to understand the level of development of the insurance market in the Republic of Moldova and how it can be improved, it is important to evaluate its current situation, identify challenges and prospects, which will be analysed in this article.

17

Authors: Natalia BANCILA, Angela POPOVICI

An enterprise generates cash flows in the course of its operation, while carrying out its financial function via a funding process, which, in turn, is one of the main objectives of financial management, that of supplying sufficient resources to finance its activity. The issue of financing enterprises both nationally and internationally has become more prominent over the last two years due to the global pandemic situation, as well as the war in Ukraine, which imposed new conditions of activity, a fact that confirms the importance and timeliness of this research. Thus, the study consists of a review of issues related to financing of enterprises, identifying their problems, as well as proposing solutions to overcome them.

21

Authors: Elina BENEA-POPUSOI, Amalia JILCA

The article approaches the production of perfumes as part of the creative industries and its evolution. We investigated the international economic stakes of perfume production, showing that global perfume exports have exhibited a sinusoidal evolution in recent years. We presented the evolution of perfume exports, as well as the Export Potential Indicator with reference to countries and export markets. The local economic stakes were exposed through the lens of supply and value chains, showing the direct, indirect and induced economic impact of the perfume industry. We addressed the ethical and economic concerns related to animal testing in the perfume production process. The case study on the Joint Stock Company “Viorica-Cosmetic” elucidated the local impact of the perfume industry in the Republic of Moldova. We analysed the evolution of the company's economic performance indicators.

9

Authors: Oleg STRATULAT

The financial sector of the economy of the Republic of Moldova, established as a result of building the market economy, has complained to many modern financial institutions, which triggered, on the one hand, the profound transformation of the legacy inherited from the state economy, and, on the other hand, the founding of new entities. Obviously, this process has resulted in a shortage of qualified personnel in the field of finance, which, along the way, thanks to the expansion of financial education, has been covered. However, even after three decades, there are deficiencies in the training of staff. One of the fundamental problems in the training and professional development of specialists in the field of currency and credit is the modelling of professional skills, issue that is investigated in this paper. The obtained results can serve as support for the argumentation of the recommendations on the modernization of financial education, the selection and adaptation of the content of the lecture units and non-auditorial teaching activities, but also of the professional training programs and the procedures for assessing professional competences to the contemporary requirements of functioning of financial institutions.

11

Authors: Saleh AWADA

Although the Soviet Union education system and its principles do not exist anymore, many parents and grandparents still regret that they cannot train their descendants in higher education institutions of a soviet-style and the labour market of both Moldova and Israel stimulate these aspirations. In this research, the author tries to find out current problems of Higher Education and suggest some solutions for solving them. The research is based on intensive study of literature, articles and scientific papers on the labour market in Israel and the Republic of Moldova, trying to compare the ratio between the educational supply of higher education and the demand of the labour market in both countries, to reveal problems and propose some possible solutions, based on international experience.

14

Authors: Angela BOGUS, Marina BAIESU

This paper aims to highlight the key role that corporate governance plays in increasing the efficiency and the economic growth of organizations, including the public institutions. The benefits and effects that Corporate Governance offers have led to the expansion of the practice in question, including in the public sector. Although the mission of the public sector is a social one, it differs significantly from that of the private sector – which is the economic one, however, a number of corporate governance traits are specific to both sectors, and the aim of each sector is to streamline management and improve the internal control system. The study highlights the reasons that have led to growing interest in corporate governance in the public sector, providing the possibility to identify optimal solutions to prevent negative practices of fraud and financial failure.

16

Authors: Igor TURCANU

The basic task of a modern tax institution is to develop relationships with the business environment by improving the tax environment. Equidistant, fair and equitable treatment will help increase taxpayers’ confidence in this institution. In order to accomplish this task, the state tax administration body must be in a permanent process of modernization and institutional change, implementing strategies at the level of development programs, voluntary compliance, prevention and combating tax evasion, adoption of digital solutions. The study carried out by the author has set out as a task to address the issue of institutional modernization by improving the fiscal environment, thereby contributing to increasing the confidence of the business environment towards this institution. The scientific approach started from the idea of reconciling the interests of the State Tax Service with those of the business environment, in order to maintain a constructive and mutually beneficial dialogue on tax administration.

10

Authors: Tatiana JURAVELI

The spirit of a negotiator represents a necessary quality for a businessman in order to launch the business and obtain performances. Achieving performance, however, presupposes a consolidation of personal qualities and abilities, in order to be directed towards the strategic development of the tourism enterprise. If we are referring to the tourism business, then it certainly does not ignore this requirement. Without a trained and experienced person in the field of business negotiation, it is quite complicated to get some results, which are beneficial for the tourism business. In this article, the author analyses the role of the negotiator in starting the negotiations related to the tourism business, characterizing his personal and professional traits.

10

Authors: Igor TURCANU

Public finances represent the economic engine of the rule of law. The way in which the financial means are collected depends on whether the State honours its obligations towards its citizens. Due to the complexity of the content and subject matter, the author has set himself the objective of elucidating the method of establishing budget revenues through taxes, duties and state social security and health insurance contributions. This article also highlights the tax administration mechanisms through which the State ensures the collection of the financial means intended for public needs. The entire scientific approach has combined economic theory in the field of public finances and recent tax administration practices used by the State Tax Service in relation to taxpayers.

11

Authors: Nicolae PLATON, Tatiana JURAVELI

Any negotiation process implies the existence of distinct parties, an object of negotiation and a certain context. The negotiating partners are in a certain relationship of forces, one or the other of the parties being able to have an ascendant over the other. In order for the negotiations to have the expected effect and to resolve certain disputes related to the tourism business, it is necessary that, beyond the personal interests of the negotiators, the parties should be able to define a common project, which would make the object of the negotiations be accomplished. This article characterizes the effect of power as a method of influencing the process of commercial negotiation in the field of tourism business.

14

Authors: Orlando Marian VOICA, Stelian STANCU

This research introduces a new approach to organizational capabilities of enterprises that pursued change. The purpose of our research is to create a straightforward model for the dynamic capabilities that can be used by all organizations that intend to involve themselves in a change endeavour. We collected data through a questionnaire filled by executives, managers and consultants that were directly involved in a change initiative within a Romanian organization and had extensive knowledge about the organizational change processes and their results. A number of 21 organizational routines were analysed as possible independent variables for a model establishment. The objective of the proposed framework is to support the continuous improvement of organizational change processes by enabling the discovery of the critical managerial areas that have impact on the final change result and the focus of practitioners on those routines whose absence can impair the change success.

9

Authors: Rodica CUSMAUNSA, Natalia CURAGAU

This article examines some problematic issues regarding the recognition of and the accounting for the indirect production costs related to the service of the entity’s production subdivisions if the actual consumption costs are incurred during a reporting period, but the respective primary documents are received and/or accepted by the beneficiary in another reporting period. By using the research methods, such as document analysis and deduction, the authors have investigated the local researchers’ opinions, which resulted in formulating stronger conclusions and recommendations regarding the recognition and reflection of indirect production costs in the month of the effective consumption of their resources, as well as the way of declaring the respective value added tax.

10

Authors: Valeriu PROHNITCHI, Aurelia TOMSA

Authors use the Computable General Equilibrium model to study the impact of a structural policy associated with declining import and export transaction costs in the economy of the Republic of Moldova. The results show that for most goods traded internationally, import prices are declining, which leads to increased consumer welfare. At the same time, the production capacity of the domestic economy is expanding and exporters are getting higher export prices, which boosts their competitiveness and leads to relatively faster growth of export deliveries compared to domestic deliveries. Benefits and costs of the scenario are quite evenly distributed territorially, although the well-being of households in industrialized urban areas is growing slightly faster compared to rural households. The obtained data confirm the international empirical results regarding the relevance of structural policies for long-term economic development.

11

Authors: Mariana SENDREA

In this article are analysed the components of the innovation infrastructure, which exist and are fully or partially functional in the Republic of Moldova today. Before analysing what can be improved in terms of infrastructure, it is necessary to determine what these components are and what their role and importance is in the contemporary economy, in the creation and promotion of innovations. The innovation infrastructure of any country depends directly on state policies, scientific, material, human and financial potential and, at the same time, these determinants can become pillars of a country’s success or barriers to its development – it all depends on the commitment of decision-makers and all people. Clearly, the infrastructure of any country can be improved and the necessary steps to be taken to develop the innovation infrastructure will be presented.

12

Authors: Angela SOLCAN

The present paper investigates the issue of consulting services market in the Republic of Moldova and their development trends. The research is based on secondary data analysis, as well as on the results of an online survey of 54 business consultancy providers. The results of the study show that most service providers are microenterprises. Usually, consulting companies provide services in different fields and only the largest, with experience, are focused on specializations. In 2020, the most frequent were the consultations in the field of “strategic planning and organizational development” and “marketing and sales”. The study has revealed the impediments faced by the consultancy service providers from the Republic of Moldova, also, some recommendations were formulated, that, in the opinion of the service providers, would contribute to the development of this sector.

12

Authors: Valeriu PROHNITCHI

The Republic of Moldova lacks an updated Input-Output Table (IOT), which is necessary for compiling a Social Accounting Matrix and calibrating a Computable General Equilibrium model. The author’s goal is to estimate by economic, mathematical and statistical methods the IOT for 2019 using a IOT for 2014 as a reference. The author first defines an optimal classification of sectors present in IOT-2019 to ensure comparability with IOT-2014. Subsequently, the author reconciles data from National Accounts Statistics, Balance of Payments and budget execution reports to compile the IOT quadrant 1. For quadrants 2 and 3, the columns for which there are statistical data in the aforementioned sources are first determined, after which the missing parts are compiled formulating and solving a mathematical optimization problem, in which the objective function is minimization of structural differences between IOT-2019 and IOT- 2014.

18

Authors: Angela SECRIERU, Nadejda BOTNARI

This article aims to analyse extra-curricular education institutions in the Republic of Moldova in terms of their funding and to make recommendations to improve the financial mechanism so as to respect the right of children and young people to education. The complexity of the financial phenomenon related to the field of extracurricular education is investigated by the use of statistical and mathematical methods. In particular, the analysis of the dynamics and structure of the budgets of extra-curricular education institutions was used. As sources of information for the research, the following are to be mentioned: the legal and regulatory framework governing the activity of extra-curricular education institutions and their budgetary process; the budgets of institutions of extra-curricular education; interviews, discussions at the level of extra-curricular education institutions and their founders.

6

Authors: Oleg STRATULAT

Expressions like “retail banking”, “retail banking products”, “retail banking services” have become very widespread in recent years in the banking environment, the media, the scientific literature, etc. In addition, such phrases are more and more often found in normative acts. However, there is no definite understanding of those terms. In literature, in order to define the phenomenon, various general and evasive features are used. At the same time, for accounting, taxation, reporting, statistics, but especially for prudential regulation, an exact delimitation of retail banking is necessary. This article is dedicated to an overview of the existing views on the notion of “retail banking” and its clarification from a formal point of view.

10

Authors: Svetlana RUSU

The article describes the correlation between migration and human rights in the Republic of Moldova. Today migration is considered a great problem for Moldova. The country is facing poverty, lack of jobs, Moldovans are forced to go abroad, hoping to find not only a more profitable job, but also a safe living environment. The Republic of Moldova is facing a crisis of wage labour, which results from a combination of factors such as mass emigration for work, very low wages, undeclared payment, poor negotiation power of employees within enterprises, the feeling of injustice among employees. Violation of employees rights causes many workers to go abroad in search of a better place to work and live.

10

Authors: Tatiana BUCOS

The article aims to identify the role that universities have in the entrepreneurial ecosystem, respectively in stimulating the emergence of start-ups. The ways in which start-ups contribute to economic development are presented, as well as the factors that influence the number and viability of start-ups launched in a certain region. As a result of the discussions, the importance of the quality of entrepreneurial ecosystems is emphasized in order to stimulate the emergence of start-ups, but also the place of universities in the ecosystem. The ways in which universities could create viable entrepreneurial ecosystems around it are highlighted.

13

Authors: Aliona BALAN

An important index that reflects the efficiency of the state socio-economic policy is the population standard of living. This index represents the result of the country’s socio-economic development. No result of the development of individual sectors of the economy, regardless of how large and positive it is, have sufficient value without appropriate changes in the standard of living of the population. Increasing the living standards of the population, including people with disabilities, is a strategic priority in the state policy of the Republic of Moldova. One way to achieve this is to improve micro and microeconomic mechanisms for GDP growth. It is also important to ensure economic inclusion through the equitable distribution of income and the reduction of economic inequalities for the harmonious development of society as a whole. The purpose of the research is to highlight the essential aspects of the standard of living of people with disabilities in the Republic of Moldova in order to create adequate measures for their social protection.

15

Authors: Eduard TUGUI

The study represents an analysis of the pandemic impact on working conditions of teachers employed in general primary and secondary education institutions in the Republic of Moldova. The analysis is based on an opinion poll carried out among the didactic staff and relates the working conditions during the pandemic to the provisions stipulated in the International Covenant on Economic, Social and Cultural Rights, as well as those in the Constitution of the Republic of Moldova. The poll results denote the fact that the working conditions of the didactic staff have changed for the worse during the pandemic, having aggravated some chronic problems of Moldovan education, whereas exercising labour rights in conformity with international and constitutional engagements implies rationalization of work and providing necessary remuneration for a decent life.

16

Authors: Irina TOLMACIOVA, Corina CAUSAN

The economic crises that have occurred worldwide so far have been caused by emerging problems arising from the supply-demand correlation for certain products on the world market. However, the current economic crisis has been caused by the global COVID-19 pandemic. The greatest difficulty has been the impossibility of predicting the crisis that has arisen as a result of the need to introduce urgent restrictive measures to combat the pandemic. The devastating consequences of the crisis caused by COVID-19 were the halt of the world economy and the decline in Global Production, which was recorded by the International Monetary Fund (IMF) in the spring of 2020. The Republic of Moldova faced the overlap of two major crises: first caused by the COVID- 19 pandemic and second by the severe drought, mentioned as the most severe recession in the last 20 years. As crisis consequence, the Gross Domestic Product (GDP) of the Republic of Moldova estimated for 2020 decreased by about 6.5%.