Central European Business Review

14-17

Authors: Machek, Ondřej

Bankruptcy models are a common tool of financial analysis to predict the financial distress of companies. However, in the recent years, the instability and risk of the overall economic environment have underlined the need for accurate tools to predict bankruptcy and assess the overall performance of companies. In this article, we analyze the ex-ante predictive ability of selected bankruptcy and solvency models commonly used in financial analysis: Kralicek quick test, Taffler model, the IN99 and IN05 indexes, and Altman Z’-score models in the case of Czech companies from 2007 to 2012. We determined the percentage of cases when these models correctly predicted failures of companies up to five years in advance, and found that the IN05 and IN99 credibility indexes provided the best results, as well as the Altman Z’-score model. However, the predictive ability of the Taffler model and Kralicek quicktest has only been limited.

28-35

Authors: Jan Rozek, Miroslav Karlíček

Many studies show that marketing has recently lost its strategic position within companies. Customer Lifetime Value represents a relatively new approach to reestablishing marketing´s position as the core management instrument in market driven companies. The main goal of this paper is to summarize the current development and basic principles of the Customer Lifetime Value conceptual model, which sets customers back into the position of key company assets. The paper presents findings that prove the need for a marketing focus change in order to be able to properly manage customer relationships and secure a company’s long-term sustainable development.

44-53

Authors: Md. Hasebur Rahman, Sheikh M. Nurullah

This study presents a theoretical-empirical reflection about concepts, models, and practices of Maslow’s Model of Need-Hierarchy in public and private commercial banks in Bangladesh. The empirical part of this study, comprising 130 samples, has been collected through a structured questionnaire. The study reveals that employees of commercial banks have high use of lower level needs and moderate use of upper level needs. The study also reveals employees of private commercial banks have a slightly higher motivational score of each level of Maslow’s model, but these motivational differences are significant for safety needs and insignificant for basic, social, esteem and need for self-actualization at the five percent level of significance on a one way ANOVA test. On the basis of these findings, the study concludes that the employees of public and private banks follow Maslow’s motivational model without any difference. Maslow’s model holds across cultures, but its applicability, in some cases, will be culture-specific; it requires unique managerial attention to cultivating and sustaining well-motivated employees in different companies in different countries around the world.

13-19

Authors: Luboš Smrčka, Jaroslav Schönfeld

The survey of real outcomes of insolvency proceedings in the Czech Republic analysed by this study took place during 2012 and 2013. This is the first survey that enables (on the basis of a statistically declarative sample) the ascertainment of certain crucial data as to the actual outcome of insolvency proceedings in the Czech Republic, i.e. especially as to the yields which creditors obtain. The study analysis outcomes drawn from two waves of statistical research, compare these two waves together and place the results gained into an international context. In addition, the study also brings forward basic information on the structure of the insolvency act in the Czech Republic and possible changes in legislation that would create a more congenial environment for creditors.

27-34

Authors: Md. Hasebur Rahman

Every organization needs well-adjusted, trained, and experienced people to perform its activities effectively and efficiently. Today’s business environment has become complex; the training for employees’ education is becoming a diver for adjusting dynamic change in organizational interfaces. This survey reveals that employee training and job satisfactions have a significant positive relationship with organizational effectiveness. The survey also indicates that job dissatisfaction has an insignificant relationship with organizational effectiveness in commercial banks. The study indicates that to chase dynamic business environments, management should focus on building human resources through diverse training for promoting organizational effectiveness.

42-50

Authors: Marek Stříteský, Martin John David Quigley

This paper describes new trends related to the concepts contained in HR organizational structures within Czech organizations. In addition, it describes the specifics of the roles played by HR in those organizations which have transformed their HR departments in terms of the principles of the HR Business Partner Model, both in theory based on available resources, and at the practical level based on the results of primary examination. The goal of this paper is to present the key perceptions of the changes made in the HR structure within the organizations, as well as the impact of these changes on the effectiveness of the HR departments concerned. Another goal of the paper is to summarize the responsibilities of the newly created position known as the HR Business Partner in these organizations as well as the demands placed upon the personnel employed in the HR Business Partner role. The paper offers conclusions based on the results of both quantitative and qualitative surveys. It also contains a case study of one organization which has one of the best transformed HR departments, and whose services are classified, by internal clients, as being of high quality.