Business Excellence and Management

5-20

Authors: Yang CAO, Joseph P. OGDEN, Cristian I.TIU

This paper provides a critique of alternative organizational structures in the hedge fund industry. Our critique is facilitated by several stylized models describing alternative industry structures. The models include: (1) An insideonly hedge fund model; (2) A straddling hedge fund model; (3) A straddling “feeder” fund of funds (FOF) hedge fund model; (4) A stand-alone outside hedge fund; and (5) An outside “feeder” FOF hedge fund model. Our discussion of these models, which centers on benefits vs. fundamental problems related to illiquidity, information asymmetry, and conflicts of interest, leads to several hypotheses about the differential characteristics and return performance of both individual hedge funds and FOFs. We test as many of these hypotheses as data availability allows, and evidence is consistent with these hypotheses. Regarding characteristics, we predict that some hedge funds and FOFs will have greater leverage and/or more restrictive withdrawal policies than others, and evidence is consistent with these predictions. Regarding return performance, we predict that certain hedge funds, and FOFs in general, will have relatively poor return performance, and evidence is consistent.

31-40

Authors: Marian-Mihai CIOC

The first part of the paper addresses the issue of group decision making, in the context of theoretical and methodological conceptualization of the main approaches for developing and using collaborative platforms, as well as those related to deployment of GDSS (Group Decision Support Systems). The second part of the paper is focusing on a business development model and a set of IT support functions for collaborative activities, consisting both of collaborative tools (online accessibility, communication facilities in remote, interactive exchange of information synchronously − like chat, brainwriting − or asynchronously − like forums, project management -) and the automation of computer algorithms for identification and analysis of decisional alternatives, evaluating the status of decision-makers, ranking of decision alternatives and selection of optimal decision alternative.

53-62

Authors: Monica-Daniela TESU (PASCULESCU)

This study investigates several challenges for public administration’s management with the intention of revealing some possible solutions in an attempt to improve the management of public administration. The main conclusion of this study is that improving public administration’s management is possible if it is based on a coherent strategy, which may take into account the economic, social, and environmental problems that need to be solved in the near future. The study was carried out using a wide range of sources from the national and international literature, as well as personal experiences related to the issues concerning the public administration. The findings of this study may be used for further research in the field of improving public administration’s management.

71-76

Authors: Madalina DOCIU, Anca DUNARINTU, Ana Maria CALIN

The global population is mostly concentrated in cities, created as areas that face many challenges such as economic, social or environmental ones. The impact of urban areas is felt not only in cities but also in other regions so well designed and well managed urban areas are premises for sustainable living and great opportunities for urban population.

5-18

Authors: Ion VERBONCU

Perhaps, the approach of excellence in management and business in the global financial and economic crisis is inappropriate, but we consider that in such critical moments for an organization or a national economy the problem of management efficiency – as a way of considerable improvement of business – should gain greater focus. Our approach tries to highlight, on one hand, the important role of management in obtaining the economic performances, in enhancing the organization competitiveness and, on the other hand, the necessity of gaining excellence in management, as a result of the professionalization of the ones leading and managing the business and the practiced management.

37-48

Authors: Claudiu CICEA

Efficiency in health service sector is particularly important. This is especially important as the medical sector is a major consumer of resources (financial resources, human resources, material resources). Correct assessment of costs within the health system is a priority for any government, manager of an institution in the field, specialist etc. This paper aims to present some aspects considered relevant for assessing the costs in the health sector.

59-66

Authors: Ilinca HOTARAN

The article presents some basic concepts related to service management, highlighting central characteristics described in three temporary dimensions: past, present and future. The research includes an incursion into classical theories, analyzing present trendsand theability toseethem both asopportunitiesand asbarriersfor the futureofwhatwe defineasservice management.Oneof the key elementsidentified asfeasibleand improvablein a short time plane is the e-learning service. The research provides a global frame for different areas of modernization in service management, considering the fact that modernization should be associated both with complete change and innovation and with existing elements’ improvement.

74-82

Authors: Georgiana Andreea CIOANA

To be successful or simply to survive the changing economic environment, companies need to know how to organize their work and how to set priorities that can be monitored, measured and completed in a timely manner. In the current competitive conditions, the adoption of effective manufacturing policies and the establishment of priority systems aimed at achieving high performance is the great challenge the managers of the manufacturing companies are facing. Studies revealed that in the production-oriented businesses the most common priorities refer to increasing product performance, customer satisfaction, and the investments in the development and innovation process, to cost reduction, resource planning systems, improvement of the supply chain, the training of employees and their involvement in the process of continuous improvement, to environmental policies. Companies in Romania as well as in the EU and throughout the world suffer major contractions because of a misalignment of decisions at all organizational levels. Until now the literature lacks an analysis of the effects the manufacturing policies established at company level have on performance and on the results of the activities undertaken. The present paper emphasizes the impact the alignment of priorities with company’s objective and strategy has on its performance, starting with a snapshot of the performance of the industrial sector in Romania before and after the installation of the economic crisis.