Annals of Spiru Haret University. Economic Series

6

Authors: Guliyeva GULAR

The study of consumer behavior is considered one of the most important tasks of any market entity. Practical experience shows that producers (sellers) are obliged to unambiguously define their market behavior in order to better understand their consumers, to meet their desires and aspirations in everyday trade relations. However, the breadth of firms and the diversity of markets do not allow most users of marketing tools to make direct contact with their customers. Therefore, business leaders are clearly trying to study the market behavior of consumers by spending more time and money. In order to withstand an aggressive competitive environment, businesses are looking for answers to a key question that is important: how do consumers react to the use of various attractive marketing tools. Of course, the study of people's role as consumers in trade operations as a process justifies the relevance of the chosen research.

8

Authors: Dragoș-Adrian IORGA

Regional Intermediate Body for Sectoral Operational Programme Human Resources Development Bucharest-Ilfov Region implements the 40Ready Interreg Europe project, “Strengthening SME capacity to engage in Industry 4.0”. Within this project, a research tool, a survey (“Industrial revolution 4.0 coming to our lives”), was developed and applied, designed to provide relevant information in the field of Industry 4.0 and also to provide thematic solutions (a new criterion to support SME digital competences through the Operational Programme Human Capital 2014-2020; a new evaluation criterion for the call “Digital competencies for SMEs’ employees”, designed to support the Managing Authority for OPHC in evaluation and, at the same time, to help SMEs acknowledge the main I4.0 domains to focus on their digitalisation path in general and specifically for developing employees’ digital competencies). This paper, the result of an exploratory research, aims to present the relevant characteristics, trends and potential solutions for improving the implementation of the Operational Programme Human Capital 2014-2020, a topic that generated the need to start and, implicitly, to operationalize such a study. Therefore, in the configuration of the research process, there were no strict rules.

8

Authors: Stefano AMODIO

The ability to carry out coordination tasks within the group is identified with the leading role of the group itself. If this ability manifests itself continuously, it is an indispensable premise for the attribution of leadership to the one who demonstrates and exercises it. Leadership is therefore a quality, a gift that is not only a factor of appreciation for the individual, but also a valuable resource for the group. It usually happens that one or more members of an organization find it important to engage in seeking some influence on other members; this means making attempts to exercise authority. If these attempts are successful and are repeated over time, they can actually confer leadership on the one who has been the protagonist. in whatever sector they operate, companies need to reap the benefits offered by leaders capable of generating the emotional resonance in the company that allows everyone to realize their aspirations and make their potentials concrete.

10

Authors: Melina ALLEGRO

Conflict is a divergence of opinions which, as such, generates an emotional alteration in turn arising from a clash of mutually antithetical views. (Bonfanti, 2011). I decided to start from this definition to emphasize how much, within a conflict situation, whether it be work or family, the factors in the field concern both the cultural aspect of a person and the emotional one. Speaking of conflict, therefore, without taking into account the socio-cultural substratum in which it has its roots, inevitably involves an emptying of those which are the fundamental ingredients of any type of relationship. As already mentioned in previous chapters, the socio-cultural transformations that have occurred in recent decades have led to a complete redefinition of the roles that men and women respectively cover during their lives. In fact, in the era of modernity, many of the roles that had been at the basis of society for decades were gradually overturned.

10

Authors: Bianca RUSU, Lăcrămioara HURLOIU, Iulian HURLOIU, Lucian ILINCUȚĂ

The control environment, which is largely determined by management policies and the operating style of the entity, is fundamental to the way the controls are carried out within an organisation. In order to obtain a full understanding of the control environment, the auditor should focus more on the high-level policies and practices of the audited entity and less on the detailed controls within individual operations. Professional scepticism is of great importance when assessing the control risk. The auditor must apply it when verifying how the internal controls, implemented by the management of the entity, have acted in the direction of reducing the specific inherent risks.

12

Authors: Aurelian-Virgil BĂLUȚĂ, Alexandru RADA

The paper has the following chapters: the need for a good result from the cost-benefit analysis, multi-disciplinary elements in the management of digitization projects, knowledge management in digitization projects, ethical issues – restrictions in digitization projects, natural opposition to change of organization. The use of cost-benefit analysis has the following moments of use: before its launch or choosing the option to carry out the project, if the need for a project for which there are several implementation options has been established by other methods. In digitization projects, one of the concepts used more and more is that of smart infrastructure. Recent management talks about the fact that systems are much more important now than before. One of the problems with current systems is connection. In the case of digitization projects, there are also components that aim only at acquiring the skills necessary for new technological systems or work procedures. In their case, there are many elements already established in the field of education. One of these is the relationship between the importance given to certain knowledge and its usefulness. The process of globalization has extended internationally the regulation of the ethics of certain professions, including in the field of ITC and project management in large companies. The professional ethics as restriction of digitization projects are applicable not only to multinational companies, but to all those operating in a global market. Staff confidence in the usefulness of digitization projects must aim for maximum capacity. Digitization can be conceived as a solution to increase the revenue of the companies as a financial source to motivate the staff.

14

Authors: Paolo CIONI

In the world of work, the presence of women has been a very stable phenomenon for years now. Some factors, such as: - the increasing level of education, - the progressive outsourcing of the national economy, - the diversification of employment contracts, have definitely favored an increase in the employed female population, which however still remains in a due minority compared to the figures regarding male employment. However, one factor outlines the importance of the presence of women in the labor market, and is that relating to female entrepreneurship, which has grown in recent years thanks above all to regulatory systems which, in fact, have progressively favored both its promotion and development. . However, this is a process that has not only affected Italy, but the entire sphere of the European Union, where it is estimated that almost a fifth of the annual GDP growth can be explained, in principle, precisely with the increase participation of women in the workforce. Although disparities continue to affect the employment market, the "gender segregation" element appears singular, with women concentrated in some types of employment and men, obviously, in others.

14

Authors: Elena ROBU

The set of phenomena related to recreational activities should be considered as a system, so that the object of study of recreational geography is the Territorial Recreational Systems (TRS). The main social function of TRS is to maximize the needs of the population in recreation, health, treatment and increasing physical and spiritual potential. TRS is an open system, it receives information, matter, energy from the external environment. TRS transmits to the external environment, mainly, information for the management of the supersystem and the so-called recreational information for the population (potentially aggregated by tourists) and, most important, it returns the tourists themselves - people after rest, healthy and spiritually enriched. Studying the models of development and functioning of the Territorial Recreational Systems (TRS) is inextricably linked to the problem of identifying the relationships between the individual elements of this system, such as tourists, natural complex, technical structures, service system) and between recreational and non-recreational systems (reinstallation) etc.

16

Authors: Mathew ADAGUNODO

The study assessed the effect of oil receipts and fuel subsidy payment on current account deficit in Nigeria and Venezuela. Data collected were analysed using trend analyses, unit root, cointegration techniques and Autoregressive Distributed Lag (ARDL). The result showed that estimated oil revenue had a negative and significant impact on current account deficit in the short- run in Nigeria ( and Venezuela ( . The estimated oil revenue had a negative and significant impact on current account deficit in the long-run in Nigeria and Venezuela ( . Fuel subsidies also had positive and significant long-run impact on current account gap in Nigeria ( ) and Venezuela . The study concluded that despite the positive contributions of oil receipts to the current account in the two countries, continues fuel subsidy payment would impose significant fiscal costs and undermine current account position in Venezuela much more than Nigeria.

16

Authors: Ayo Olatunbosun FALANA, Ademola Olalekan ADEDUN, Adeolu Oluwole FAMILOYE

The growth of an economy needs to have a great impact on the citizens of that economy and thus help reduce poverty which is one of the main purposes of the millennium development goals. Nigeria has one of the largest populations in Africa and regarded as wealthy in terms of natural resources but with high levels of poverty. The government in their effort applied many policies in eradicating poverty through many empowerment programmes. This study attempts to examine if the empowerment programmes implemented by the government really helped in reducing poverty with focus on the youth who are the future of the economy. Focus was laid on the Amnesty Programme implemented to empower the youth in the Niger-Delta, highlighting the financial commitment of the programme and challenges encountered. The study uses the qualitative research approach which was exploratory and descriptive in nature with information leading to deduction of conclusions derived from journals, books and previous papers. It was realized that the Amnesty programme has helped to prevent the militant youths from their bad deeds and succeeded in equipping them with technical training in various fields of endevour. It was also concluded that there has been a lavish expenditure on the programme but still encounter many challenges such as unpaid or irregular payment of allowances to beneficiaries, inappropriate training provision, and limited employment prospects and so on. The challenges hinder the achievement of the expected goals and thus do not yield any effective result in reducing poverty. The study recommends that The Federal government should provide funds to the beneficiaries of the programme to establish their own businesses or provide them with job opportunities since unemployment of the graduates can push them back to the creek.

18

Authors: Svetlana ANĐELIĆ, Goran RADIĆ, Nikola DRAGOVIĆ, Dušan UNKULOV

The article explains the critical concepts when using domain-led design as a software development approach. It presents what makes a domain-driven design, how that philosophy came about, the advantages and disadvantages, and when it is best to use it. All the necessary elements that are essential for software designed in this way to succeed, which together form a domain-driven design, are explained in detail. Particular emphasis is placed on the importance of domain-driven design in the case of software in projects with complicated business processes.

18

Authors: Stella Ogechukwu OKEZIE, Kelechi Vivian IKEJI, Caroline Chisara OGU, Emmanuela DURU

The study examined the effect of corporate social responsibility cost on sustainable growth of listed firms in Nigeria. The study adopts ex-post facto research design. Fourteen (14) out of the 56 listed manufacturing companies on the Nigerian stock exchange as at 2021 were selected for the study. Data was analyzed using panel regression and Autoregressive Distribution Lag (ARDL) model. Findings from the study reveal that, corporate social responsibility cost denoted as social responsibility cost and environmental cost has a long run relationship with sustainable growth of listed manufacturing firms in Nigeria as measured by the bounds test using the Wald statistics. Furthermore, the results also reveal short run relationship with a speed of adjustment to long run equilibrium at 77.95% significant at 5% level of significance. It is thus recommended that manufacturing firms should continue to invest in corporate social responsibility as this has a significant effect on their sustainability. Firms must sustain the current corporate social responsibility strategy and improve on ways to be cost efficient while still maintaining an effective corporate social responsibility strategy that will put the firms in good light with consideration to environmental responsiveness.

20

Authors: Oluwatoyin Olusola AKINTAYO, Iyiola Akindele AKOSILE

This study focused on the relationship between auditors’ independence and quality of audit report. To investigate this objective a survey research design was adopted to gather data from the respondents through the distribution of questionnaires to 120 respondents comprised of 12 auditors and 108 senior staff of the 12 randomly selected Deposit Money Banks (DMBs) in Nigeria. In addition, 120 copies of questionnaires were distributed to the respondents from which only 118 questionnaires were returned and used for the study. Both descriptive and inferential statistics of logit regression was adopted for the study. The result obtained from the regression analysis showed that there was a significant positive relationship between auditor independence and quality of audit report. This assertion was premised on the fact that the p-value of the LR-statistics computed for the test of 0.0000 was less than the critical value of 5%. It was concluded that auditor independence and quality of auditor report were sufficiently related. It was recommended that auditors should not interfering with the affair of its client in order not to erode its independence.

22

Authors: Elena GURGU, Milena ILIC, Sabyasachi RATH, Ioana-Andreea GURGU

In this paper we talk about creativity in public relations, that is clear that we need. For us, creativity in public relations can be a mean, a novel way to accomplish an objective more easily, more efficiently and more quickly. It is clear that every client appreciates creativity, but in many situations it does not translate into events or visible messages for a mass audience and then it is not visible. We also talk in our paper about the profile of a creative relationalist, that must be: involved, informed, avid after work, possessing theoretical knowledge, having flexible and positive thinking, being visionary. In this paper we will try to demonstrate that creativity can occur in one of the following situations: either in strategy (positioning, planning), or in execution (tactics, presentation materials, information).

24

Authors: Dorcas Adebola BABATUNDE

This study examined the impact of treasury single account (TSA) on public sector performance in Nigeria. Specifically, this study analyzed the effect of treasury single account on budget execution; accountability and cash management in Nigeria public sector. This study made use of primary data sourced from 300 randomly selected respondents from government parastatals, agencies and ministries across six southwest states in Nigeria. Data were collected with the use of structured questionnaire. Collated data were analyzed with the use of percentage/frequency count and ANOVA regression analysis. Result showed that TSA adoption exert significant positive effect of budget execution (0.794; p < 0.05); level of accountability (0.750, p < 0.05), and cash management (0.960, p < 0.05) in Nigeria public. The study therefore concluded that treasury single account has substantial positive impact on performance of Nigeria public sector. Hence this study recommends the need for government to strengthen guidelines for the full implementation of the policy so as to ensure long term sustenance of the policy across the country. In addition there is need for government to engage in objective public enlightenment about the importance of the policy. Government should also overhaul the capacity of the Federal Ministry of Finance and the CBN to cope with challenges associated with enforcement of the provisions of the TSA so as to further harness the benefit of centralize control of funds across the country.

8

Authors: Svetlana NOVAKOVIĆ CAREVIĆ, Jasmina BAŠIĆ, Irina DIJMĂRESCU

Healthcare suffers too much pressure in a context where there is no room for experimentation or mistakes, given the fatal consequences and unpredictable outcomes. This paper aims to present the specifics of health management and usage of artificial intelligence to improve work performance, job satisfaction, and, most importantly, patients’ health. This is achieved through the introduction of an artificial intelligence system in healthcare facilities.

10

Authors: Maria ANDRONIE, Luminița IONESCU, Irina DIJMĂRESCU

The digital transformation of accounting will affect the daily activity of companies and will profoundly impact the employment landscape. The scope of this research is to present the components of the high-level architecture for public service chatbots and the usage of chatbots in the public sector. The last part of the research is analyzing how chatbots will impact accounting and how digitization of work will have an effect on jobs. Artificial intelligence is expanding and there are many benefits of using chatbots in the public sector for user interface, dialog management, interaction recording, and filtering and feedback from the customers. In the last decade, there has been a significant rise in interest in artificial intelligence, non-humanoid robots, chatbots, and encryption. Chatbot technology could speed up communication between advisers and clients/citizens, and more recently between accountancy and public authorities. Several European countries have implemented chatbots for providing public services in order to respond to the increasing demand of information from citizens towards public administration. The European Union encourages the use of open data portals for taxes and reporting purposes, but also for improving the quality of public services while increasing public sector efficiency. The chatbot network could improve the European public system in the near future and boost economic growth.

10

Authors: Raluca ZORZOLIU, Mariana IATAGAN, Elena GURGU

In the midst of wave 4 of the pandemic, the demand for commodities seems unbridled, and the value of stock and real estate assets reaches record after record. On the other hand, container bottlenecks in the world's ports, production syncopes against the background of the crisis of raw materials, components and microprocessors, or the explosion of energy prices in Europe are less bright aspects of the period we are living in. The pandemic is not coming to an end, but since the fall of 2020, when most of the movement restrictions have been lifted, the world's population has pivoted unseen from thrift to excess. Inflation at the end of the year will be more than double compared to the last quarter of 2020, according to the NBR projections. According to some analysts, such as Valentin Tătaru, the chief economist of ING Romania, inflation could reach 6% already this autumn. The injection of money into the economy, in theory, should only begin from now on, after the approval of the National Recovery and Resilience Plan (PNRR). The almost EUR 30 billion that would help areas such as health, education, energy, energy, construction and transport over the next six years, as well as the capital market, should be a safety net in the most pessimistic scenarios. However, the labour crisis, the resolution of which is not even in the medium term, is the real time bomb that can undermine economic growth and, by extension, the absorption capacity of European funds. The areas with high shortages of specialists are well known – construction, HoReCa, medical services and technology.

12

Authors: Milica JEVREMOVIĆ, Hana STEFANOVIĆ, Dušan STOJAKOVIĆ, Nada STALETIĆ

This paper aims to determine the effects expected on users after introducing interactive features in the website. For this purpose, three models by Song, Liu and Wu were compared, which gives this paper an extraordinary precision and depth of research on the given problem. The paper’s contributions are reflected in a comprehensive, detailed review of previous research on interactivity, the importance of using the website and showing the specific effects expected from users after introducing interactive website features. Furthermore, the paper’s contribution is reflected in recognising the importance of site interactivity in job search/training courses/internships. Finally, users who used the interactive site compared to non-interactive sites had a significant increase in activity.

12

Authors: Olga TIMOFEI

The circular economy is a new approach to the responsible and cyclical use of natural resources, where the economy should aim at minimizing the impact on the environment and stimulating the economy. Solving environmental issues in tandem with promoting sustainable growth has never been more current than it is today. One of the essential stages of the transition to a circular economy is the improvement of waste management, which is primarily due to limited global natural resources and the need to reduce their consumption. The Republic of Moldova, similar to other countries in the world, annually it produces huge amounts of waste, a significant share of which goes to companies and enterprises. In order to hold economic agents accountable in recent years, certain steps have been taken by public authorities, but they have remained without visible impact on the situation in the field. Because the adaptation of such a circular economy model is done at different levels, including at the level of individual, whether owner or employee of a company, we decided to conduct their survey in order to determine awareness of the principles of the circular economy of those who are involved in the real sector of the country`s economy. The results of the interview clearly showed that the greatest efforts in the field of raising awareness, empowering companies are yet to be undertaken, and the transition to a circular economy in the Republic of Moldova will take some time.

14

Authors: Milena ILIĆ P, Nevenka POPOVIĆ ŠEVIĆ, Marko RANKOVIĆ, Rocsana BUCEA-MANEA-ȚONIȘ

Non-technological innovation comes from sectors with the capacity of applying knowledge provided by foreign companies and trade partners. Green procurement proved to be an essential factor that stimulates innovation and economic resilience. It is often found in companies in South-Eastern Europe, social responsibility, a high level of competencies, and agile operational management. Romania made critical green procurement and agile management steps to impact productivity with a low footprint on the environment positively. On the other hand, Serbia could not access FP7funds to invest in R&D and eco-innovation, reflected in a low Global Innovation Index Ranking. The paper addresses competitiveness and innovation within the case study model of Serbia and Romania, explores similarities and differences, and makes recommendations. Competitiveness and innovation are observed within the context o circular economy.

14

Authors: Raluca Ionela CRETOIU, Anca UNGUREANU, Adrian UNGUREANU, Ana Maria MIHALI, Silvia RAȘCU PISTOL

The impact that COVID-19 had, especially on business, although it could not be anticipated, was a real challenge for entrepreneurs, from which they had to learn, and were determined to develop their creativity, coming up with solutions. and proposals for survival. The pandemic has opened up a number of opportunities for business owners to meet the ever-changing needs and demands of consumers. Opportunities are identified and exploited only by those entrepreneurs who think ahead, who eventually become successful entrepreneurs later. According to the United States Census Bureau, more than 4.4 million new businesses were created in the United States in 2020 - the largest number of new businesses recorded to date. The emergence of several types of business that developed in the pandemic was possible precisely due to digitalization and the evolution of technology.

14

Authors: Jati KASUMA, Nelson LAJUNI, Ahmad Faizul BENJAMIN, Hiran PRASANKAN, Halimin HERJANTO, Dio Caisar DARMA

Islamic studies have sparked a lot of interests among different cultural backgrounds and no longer foreign to the world community. Among issues that have gained attention among scholars was spirituality from the Islamic standpoint. Therefore, this study attempts to explore the connection between Islamic spirituality (belief, rituals and repentance) and its influence on Islamic leadership effectiveness. The study contributes to the new knowledge pertaining to Islamic leadership in management by integrating the Islamic tradition with contemporary literature whereby Islamic spirituality constructs were developed from the Islamic tradition sources that correspond to leadership studies from contemporary literature. Using a purposive sampling of non-probability technique, the survey data used for this empirical research was drawn from Muslim employees working in uniform bodies in Sarawak, Malaysia. Most of the respondents hailed from support group scheme of service and there are three uniform bodies involved in this research namely the Malaysia Royal Customs Department, Malaysia Royal Police and Malaysia Royal Navy. Employing multiple regression analysis and using SPSS and SmartPLS software, the study tests several hypotheses that the components of Islamic spirituality were exerted to have statistically mixed influences on Islamic leadership effectiveness. The study found four out of seven hypotheses were indeed supported. The findings did provide a better understanding of the roles of Islamic spirituality on Islamic leadership effectiveness amongst three uniform bodies in Malaysia.

16

Authors: Valentin KULETO, Milena ILIĆ, Aleksandra HADŽIĆ, Katarina RAKETIĆ

This research paper describes documents and confirms the benefits of applying extended reality (XR) into Higher education. Challenges that occur in the comprehensive reality (XR) domain (such as virtual reality (VR), augmented reality (AR), and mixed reality (MR)), as well as their causes and solutions, will be further discussed. The upcoming chapters will include perspectives from technology, design, human factors, and various technologies and ideas. XR is primarily or exclusively focused on the display, as it does not include other modalities such as audio, haptic, smell, or touch. Therefore, the primary focus will be on the benefits of using XR, though other disciplines that may intersect with Higher Education, where appropriate. As a whole, the study aspires to provide a comprehensive overview of the XR challenges, opportunities, and future trends that will be applied in educational institutions. Primary research in the form of survey research (exploratory research) that included 83 subjects showed a high awareness of XR among students of chosen HEI and usage of this technology in students' daily lives, and whether they use XR depends on the age of the survey respondents. To determine whether there was a correlation between the use of augmented reality and the age of the survey respondents, non-parametric statistics based on the ranks of observations - Spearman's correlation coefficient - were used. IBM SPSS statistical data processing and analysis software was used to calculate Spearman's correlation coefficient. Based on the sample observations and the inference statistics used, it cannot be asserted that there is a direct correlation between the use of augmented reality in everyday life and the age of the survey respondents. However, the results showed that a high rate of respondents is aware of XR (78,31%) but if they use this technology in their daily lives, are almost evenly distributed: use it in daily lives 34,94% of survey respondents do not use it 33,73%) and Maybe (not aware of the same) 31,33% survey respondents.

16

Authors: Babalola Rapheal ADESUNLORO, Isiaka Kolawole EGBEWOLE, G.M. ADESUNLORO

Research study thoroughly examined Effect of Inventory Management on the Performance of Manufacturing Firms in Nigeria, a research of some selected quoted manufacturing firms, where inventory management were captured by inventory turnover, inventory conversion period and manufacturing firm size and return on asset was used in measuring performance. Study reveal the existence of a relationship between inventory management and performance of selected quoted manufacturing firms in Nigeria. In conclusion, it can be asserted from the result that inventory management is an engine device that drive the performance of manufacturing firms in Nigeria. Inventory turnover and manufacturing firm size positively influence the performance of manufacturing firms. Also, increase in inventory turnover and firm size affects and enhances performance of manufacturing firms in Nigeria. This study recommends that management of the manufacturing firms should embrace effective inventory management practices such as inventory turnover and inventory conversion period, which can improve performance. In addition, management of the firms must develop a working strategic policies and guidelines principle on inventory management to control the staff and endeavor that optimal inventory levels are held, by this costs will be minimize and performance maximize.

18

Authors: Sonja VUJOVIĆ, Tamara RAĐENOVIĆ, Tanja VUJOVIĆ

In the era of digital transformation, especially during the corona virus pandemic, there have been changes in the way the tourist offer is presented to potential buyers. This has been especially contributed by information technologies that enable bringing the tourist destinations and hotel facilities closer to consumers. It is the aim of this study to identify the opportunities and challenges offered by augmented reality in terms of creating personalized consumer experiences, tourism development, and greater visibility of the hotel and its facilities in the global market. The intention of the authors is to fill the gaps in knowledge and raise the awareness of the value of augmented reality for tourism. Based on the research conducted in the City of Niš, it was concluded that the current application of augmented reality in the promotion of hotels and tourist attractions in the City is insufficient and recommendations are given on how to use the benefits of augmented reality in tourism promotion.

18

Authors: Miljan PELEŠ, Svetlana JEVREMOVIĆ, Aleksandar SIMOVIĆ

The advancement and development of digital technologies have resulted in the need to network various devices at the application level. Wireless communication between devices via the Internet has opened a plethora of possibilities for enhancing user capabilities. We are witnessing dizzying changes in computer technology, and we can conclude that the device’s purpose is no longer narrowly defined. The mobile phone is evolving into a personal computer, innovative features are being added to today’s televisions, and cameras can process and send photos. These are merely a few examples of universal electronic devices. Of course, for the device to perform all these functions, adequate hardware infrastructure integrated into the device itself is required, as is the fundamental software component that connects user operations and the components themselves - the operating system. This paper’s operating system under consideration is the Android operating system, which is currently the most popular operating system for smart devices.

18

Authors: Viorica POPA, Mihail CIOBANU

The global information society is growing at a fast pace. At the same time, the increase in purchasing power, urbanization and industrialization in many developing countries have led to an increase in the quantities of products placed on the market and respectively purchased, thus generating large volumes of toxic waste. Thus, digitization and connectivity are critical to help achieve the Sustainable Development Goals, the transition to an increasingly digitalized world also involves multiple risks due to irrational consumption of resources and mismanagement of waste. In our view, the problem of hazardous waste management is possible by implementing modern and smart digital technologies in waste management, and by implementing waste digitization will improve the health of planet Earth, will reduce the negative impact of pollutant emissions on the environment, will restore essential ecosystems to ensure our long-term sustainability. Thus, the use of waste as a resource is necessary to reduce the need to extract new resources. This study was developed within the State Program 20.80009.0807.22 Development of the mechanism for the formation of the circular economy in the Republic of Moldova.

18

Authors: Mustapha Tosin BALOGUN

Research establishing the mediation of corporate identity and corporate website is still at its infancy. Researchers have established the necessity to have stakeholders’ confidence through the creation and maintenance of functional website, while others concluded that it is an organisational strategy for success in the market place. The failure of Nigerian banks to have a univocal corporate identity definition and understanding of how to construct a corporate website that can communicate desired corporate identity for stakeholders confidence hold sway. This study examined how banks in Nigeria developed their corporate identity through their corporate website. The theory of social construction was used to discuss the relationship among corporate identity and corporate website. A quantitative approach was adopted using questionnaires to customers of three selected banks based on their international status. 520 copies of the questionnaire were distributed to selected customers of the three banks who use electronic banking applications via the corporate website. 473 copies of the questionnaire were returned and found useful for the study giving a 79% response rate. Data were analysed using correlation analysis. Findings revealed that the banks use their website to disseminate generic, distinctive, transformative and innovative corporate personalities. Also, there is a significant relationship between corporate identity and corporate website (r=0.616; P=0.000). Based on these findings, Management of firms should strive for higher commitment and guarantee from the stakeholders through a continuous communication and feedback using the websites that offer quality and timely information that maximize their welfare and wealth. There is a need for firms’ management to pay adequate attention to the nature of corporate identity that will be reflected by their websites in terms of culture, ethos and philosophy guiding their operations and expectations. Further studies can consider other aspects of corporate websites that can influence corporate identity and image in Nigeria while the use of websites in promoting corporate identity and image should be encouraged as a means of creating deeper deliberations on how several measures of corporate websites can influence the development of corporate identity and image.

18

Authors: Joel ISABIRYE

The Behavioral Theory of the Firm has for over fifty years shaped a section of economic thought on the nature and functioning of the firm. In this paper, this theory is reviewed with a focus on its foundations, tenets and relevance. The paper posits that the Behavioral Theory of the Firm set out to distinguish from previously known analytical models of the firm. It drew in an interdisciplinary model and explored the firm in more diverse ways than before. The foundations of the theory, its tenets and relevance are discussed. Often traced to Richard Cyert and James March, whose A Behavioral Theory of the Firm (1963) text seemed to commence this theory, the evidence shows that their seminal work was one of several other contributions to its development. What is not in dispute is that the seeds for a Behavioral Theory of the Firm were sown at the Carnegie Mellon University in or around the mid-20th century. Broadly the Behavioral Theory of the Firm conceives the firm as a unit of production with goals, and a dominant coalition that harmonizes different interests of its stakeholders into those goals.

22

Authors: Iuliana Petronela GÂRDAN, Daniel Adrian GÂRDAN, Claudia Gabriela BAICU, Daniel Constantin JIROVEANU

The crisis generated by the pandemic has challenged the hospitality industry on multiple layers. We are not talking only about the reduced number of customers and instability of the tourists flows, apart of the total lockdown from the beginning of the pandemic, but, we are referring to the managerial and marketing capabilities of hospitality companies to deal with profound changes along their supply chains. The present paper proposes a systematic review aimed to highlight the main directions in which the scientific literature from the field is analyzing the complex issue of hospitality supply chain sustainability implementation. Authors have been selected only articles from journals, conferences or books indexed in the last five years within Web of Science databases. The results of the analysis are showing that implementation of sustainability related principles along the supply chains, combined with a proper sustainable human resources management and a special view upon the customer relationship management offers to the hospitality field companies a certain sum of strategic instruments in order to cope with the huge challenge imposed by the pandemic. The future business models adapted entirely to a post-pandemic economy should emphasize a sustainable type of consumer behavior and a supply-delivery chain based on intelligent” out of the box” collaboration between organizations along the chain.

22

Authors: Abiodun Samuel ISAYOMI, Temitope Sade AKINTUNDE

Engagement in shadow economy activities doubles as a survival strategy against distortional government interventions resulting in unfavourable socioeconomic conditions and as an impediment to growth and development in developing economies. This study provides scientific evidence of the aspects of governance which minimize the size of the shadow economies of 15 West African countries from 1996 to 2019 using panel autoregressive distributed lag (pooled mean group estimator). Shadow economy (% of GDP) was used as the dependent variable while control of corruption; government effectiveness; voice and accountability; regulatory quality, rule of law and political stability were the used as measures of governance. The result revealed significant long run effect of all the measures of governance (except government effectiveness) on the size of shadow economy in West Africa. However, only control of corruption and rule of law were found to have significant negative effect on the size of shadow economy in West Africa.

24

Authors: Stella Ogechukwu OKEZIE, Rose ALICHI, Michael Chidiebere EKWE

This study examined board characteristics and corporate social disclosure of listed firms in Nigeria. Five (5) years’ time series and cross sectional data from 2016-2020 was sourced from the annual financial reports of the firms in the study. Diagnostic test was done on the data and panel least squares regression method of data analysis was employed. The results indicated that board size and frequency of board meetings have no significant effect on corporate social disclosure while board independence was positive and significant for corporate social disclosure of listed firms in Nigeria. On the basis of these findings, the study recommended that independence of the board should be sustained in order to achieve a higher degree of corporate social disclosure that will promote better environmental well- being for all.

40

Authors: Elena GURGU, Raluca-Ileana ZORZOLIU, Luminița PISTOL, Ioana-Andreea GURGU, Camelia UNGUREANU, Gica NAE

In this paper we will discuss about big data driven technologies that the tourism industry has adopted along the way, especially in recent years, as well as the top trends based on artificial intelligence that radically transform travel in the future The big data-driven technologies of the future in the tourism industry, which are essentialy based on artificial intelligence AI, augmented reality AR, Machine Lear ning ML, virtual reality VR and the Internet of Things IoT, are those that have dictated new trends in efficient management strategies at the level of companies operating on the tourist market. Here we tried to bring arguments, with figures and statistical data taken from international statistics, but we also appealed to the opinions of several authors from around the world who wrote in the last years in their articles published in prestigious international journals on the impact of new information technologies on increasing the turnover in tourism, increasing the sales of tourist packages, diversifying the tourist offer to customers or easier ways to find the perfect destination, to make a reservation easier or to pay for a tourist service in much mor e advantageous and faster conditions. All this represents the role of companies' efforts and their strategic management, which is more efficient and adapted to the requirements of the constantly moving and evolving market, a tourist market that has largely moved to the online environment and is increasingly helped by software and robotization transformations, such as virtual assistants, computer programs for image analysis, search engines, imaging recognition systems, robots, autonomous cars, drones or IoT. However, it can be seen that despite the promise made by AI, many travel companies do not realize yet the full potential offered by big data-driven technologies.

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Authors: Samuel Chuks UGOH, Wilfred I. UKPERE

Most of the African states have joined the roll-call of the hundreds of ‘failed states’ engrossed in the inter-ethnic wars, genocide and adverse and disruptive regime changes, and Nigeria is not an exception. In fact, the country has become seed-beds of violence, terrorism, mass migration of criminals across the borders, refugees’ movements, etc. These factors have weakened the state as well as force it out of its public policy role towards socio economic and political development. Two decades since democracy was reintroduced in the country, Nigerians have not really witness true changes to their socio-economic well-being as expected. Broadly speaking, they are currently demanding for another kind democracy with a redeeming quality. The country’s poor leadership has been identified as a major factor to these crises and conflicts. Perhaps, it could be the major reason for the recent End Special Anti-Robbery Squad (SARS) protest in the country. This paper therefore examines how leaders emerged in Nigeria and the policy formulation in terms of development. The work also traces the reasons for ethno-religious crises, nepotism and corruption by these leaders.

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Authors: Michael Ayodeji BOYEDE, Oluwatobi Oyewumi OMOTOYE

This study discussed the influence of work-life balance on employee engagement among women in technical education (WITED) in Polytechnics in Osun State. This is with the view of ensuring successful blending of world of work with personal responsibilities in optimal harmony. The study adopted a descriptive survey research design. The population of the study was made up of women in technical education in government polytechnics, in Osun State. A total of 750 workers were selected from Women in the Technical Education through simple random sampling technique. Two research instruments titled Work-life balance Scale (WLBS) and Employee engagement scale (EES) adapted and modified were used to collect data for the study. The test retest reliability of the instruments administered within two weeks interval yielded .78 and 0.80 respectively. The response format used was the Likert format with options ranging from Strongly Agree (4) Agree (3) Strongly Disagree (2) and Disagree (1). All the instruments were divided into two parts. Part A solicited responses on personal information about the respondents while part B collected data on the variables under study. Multiple Regression Analysis was used to test the hypotheses raised at 0.05 alpha level. Result established that flexible work arrangement had coefficients β = 0.190, t = 1.688, p = 0.007 < α =0.05, indicating a significant influence of flexible work arrangement on employee engagement. Finding also, showed that work-life conflict also showed a significant influence on employee engagement with the coefficients, β = 0.385 t =-1.184, p = 0.002 < α =0.05, which indicated a negative influence of work life conflict on employee engagement. Based on the findings the study concluded that work-life balance should be comfortably blended with personal engagement so as to significantly engender employee engagement among Women in Technical Education (WITED) in Polytechnics in Osun. And that adequate skill and knowledge of assigned task should be sought to balance the fits in employee engagement among Women in Technical Education (WITED) in Polytechnics in Osun. The study recommended that management should build a work environment that attracts, retains, and motivates its employees to help them work comfortably to increase organization productivity, and that organizations should embrace flexible work schedule strategies as this would positively influence employee engagement.

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Authors: R.N. WEERASINGHE, A.K.W. JAYAWARDANE, U.A.S. YAPA

Innovation plays a prominent role in the contemporary world. It brings novel products and services to the market while exploring new ways of production, distribution, marketing and impacts all other aspects of organizations including human behaviour through hard as well as soft methods. Open innovation has been introduced as a new paradigm in innovation management. This study examines the impact of open innovation on innovation performance of the listed companies in Sri Lanka with the moderating effect of inter-organizational networks. Open innovation practices have been recognized in this study in two folds - as outside-in open innovation and inside-out open innovation Data were collected through a survey among 165 top-level managers of listed companies in Sri Lanka. The sample was selected using purposive and snowballing sampling methods. After testing the validity and the reliability of the instrument and collected data, simple regression analysis was conducted to test the hypotheses. The study findings indicate that both outside-in open innovation and inside-out open innovation positively and significantly impact innovation performance.

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Authors: George Marius MUNTEANU, Raluca Ionela CREȚOIU

For many of the developed or developing national economies, real estate markets are areas of activity capable of substantially contributing to the structural good functionality of that economy. Transactions carried out within real estate markets provide logistical support for the proper conduct of a multitude of production activities or services of economic operators, on various levels of the economy. From this point of view, any large-scale crisis that also affects real estate field is a major challenge for the proper revitalization of many sectors and for the re-entry into a normal phase of most trade within economy. The crisis caused by the COVID-19 pandemic is a very special crisis not only because of the world scale and large span, but also because of the many plans on which it acted, economically, socially, politically, biologically, etc. This article aims to delve into the picture of the evolution of the Romanian real estate market during the pandemic, providing the main coordinates of this development and assessments on the implications that these market trends have at both Romanian and European market levels.

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Authors: Kareem Alidu OLATUNJI, Lawal Musediq OLUFEMI, Rasaq Sheriff OMOTAYO

The study revealed that the provision of fringe benefits by the management of an organisation has positive roles to play in motivation of employees to higher productivity. It also defined the degree to which an employee identifies with the organization and wants to continue participating actively in it. Questionnaire was the major instrument adopted for this study, a total of 210 respondents were sampled from three food and beverages production organisations. Data generated through the questionnaires for the study were analysed making use of Statistical Package for Social Sciences (SPSS). The results showed that highly competitive fringe benefits have impetus for ensuring drastic reduction in labour turnover. Strong fringe benefits were therefore established to be correlated with employees’ motivation on the job, job satisfaction; job performance, employee retention and that proper workplace environment helps in reducing the rate of absentees. The study therefore submitted that application of fringe benefits facilitates effective productivity, while it was also discovered that employees’ involvement in organization activities contribute to organizational stability. The two hypotheses tested thus showed a significant relationship between employees’ involvement in policy formulation and implementation on individual productivity as well as organizational performance (F Statistic (17.65) P< 0.05 and sig. P< 0.05) and that significant relationship exists between application of fringe benefits and individual productivity as well as organizational performance (F Statistic (8.982) and sig. P< 0.05).

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Authors: M. BEDA, Darlington Peter ONOJAEFE

Financial sustainability of water and sewerage provision is undermined by consumers’ inability and reluctance to pay service fees. South African municipalities are providing water and sewerage services at high maintenance and operational costs, households and businesses that are unable and/or committing to pay their full accounts timeously. This study examines the provision of water and sewage service and presents strategic framework to manage revenue collection to achieve financial sustainability of water and sewerage provision. The study applied the interpretive research method to collect and analyzed data for improved understanding of service provision and revenue collection mantra. The main objective of this study was to investigate factors affecting financial sustainability of water and sewerage provision in Cape Town. In this study an interpretive research method was embraced and qualitative research design was used to collect qualitative data by means of interviewing the senior officials using semi structured interviews. Narrative methods of analysis were applied in analyzing data collected from randomly selected Cape Town officials including observations and secondary data. The results showed that although Cape Town is making efforts of generating revenue by means of enforcing water and sanitation services payments, there is still a percentage of residents that refuses to pay for services resulting in revenue loss. The other reason for loss of revenue was unaccounted water which was the focus of Water and Sanitation. The reasons advanced for unwillingness to pay for water and sanitation services by consumers were unemployment, poverty, unequal distribution of services and general ignorance.

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Authors: Musediq Olufemi LAWAL

This study discusses the activities of cooperative societies in meeting the challenges of housing provision in the face of rapid urbanization. The study made an exposition of housing and related services, loan seeking and repayment processes. The cooperative societies in formal and informal settings were studied. Cooperative societies in 2 tertiary institutions in Nigeria were used as cases for formal setting. Informal setting was represented by the oldest Coordinating Cooperative Union in Ibadan, Nigeria. A total of 330 respondents took part in the study. Questionnaire and interviews were utilized to collect data for the study. The findings revealed that all the cooperative societies ran multipurpose services with housing loan services being equally included. These services included mass purchasing of land (b) acquisition of fixed assets (c) housing loans to members who are about to complete their personal houses or in the process of having one. Cooperative societies were seen as the easiest channels of securing access to affordable housing due to absence of bureaucratic bottleneck and insurmountable conditions. The general feeling was that decision making on how, when and to whom the loan should be given was faster, reliable and enhancing social, mental and physical stability for better productivity.

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Authors: Kennedy OLUNGO, Wilfred UKPERE

Various perspectives exist amongst people about globalisation- a phenomenon that have impacted local economies in terms of trade, foreign direct investments, agriculture, technology transfer, dominant culture, as well as international standards. This study relied on a mixed methodology approach, which is a combination of quantitative and qualitative approaches. A total of 500 closed ended questionnaires were distributed to the employees of the sampled companies, out of which 483 were satisfactorily responded to, which amounts to 97% response rate. In addition, 10 key employment relations stakeholders were interviewed. The findings of the study revealed that there has been an increase in the rate outsourcing by many organisations in Kenya, which has partly contributed to raising incidents of downsizing and retrenchment that have exacerbated the level of unemployed. Technological advancements have also been noted as a major contributor to retrenchment in Kenyan organisations. Although technology has accelerated performance, which has helped many organisations to reduce the operational costs, it has at the same time affected employees who have lost their livelihood as a result of the incursion of advanced technological innovations. Many organisations are currently engaging employees on casual or temporary work, which are sourced from labour brokers as a cost cutting mechanism. This state of affairs has affected the morale and psychological contract of many workers in Kenyan.

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Authors: Haradhan Kumar MOHAJAN

The Cobb-Douglas production function in the field of economics has a long history. In mathematical economics, it is used to find the functional relation-ship between the economic inputs and potential outputs. This study applies the Cobb-Douglas production function to predict the cost minimization policies of a running garments industry of Bangladesh. In the study, the effects of the variation rate of capital, labour and other inputs with returns to scale in the garments industry of Bangladesh are examined. In multivariable calculus, the method of Lagrange multiplier is a very useful and powerful technique. In this study, interpretation of Lagrange multiplier is given to predict the cost minimi-zation policy using Cobb-Douglas production function. An attempt has been taken here to show the production of garments in minimum by cost using statistical analysis.

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Authors: Vasile GOIAN

The article summarizes the benefits and shortcomings of globalization. Although so far this socio-economic system has had a generally upward trajectory, it can lead to entropy and the events that began in 2019 in Wuhan reinforce this assumption. Is it natural to wonder what we are heading for in the future. As a possible solution, in this article, I suggest embracing the uncreated energies, which are diverse and unlimited, and the liturgical singing of the Orthodox Christian Church as an easy and efficient way to connect to these energies.

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Authors: Zacchaeus O. OLONADE, Adetoun Ramat BALOGUN, Olawale AKINRINDE, Oluwatobi O. OMOTOYE

The work outcomes dimensions are job performance and deviant work behaviour. The study investigates the nexus between emotional intelligence and work outcomes among senior staff in Osun State University. The study adopted a correlational design. The objective of the study is to examine the relationship between emotional intelligence and work outcomes (job performance and deviant work behaviour). Primary data were used and data were collected using structured questionnaire having three scales including personal data. 148 responses were obtained through Taro Yamane formula. Senior staff of Osun State University was randomly selected across Okuku and Osogbo campuses were used for the study. Two hypotheses were tested and revealed that there was a significant and positive relationship between emotional intelligence and job performance at p<.01, there was a significant and positive relationship between emotional intelligence and deviant work behaviour at p<.01. The study recommended that the institution should include some programs in order to enhance emotional intelligence based on their job satisfaction, job performance, and employee work outcome. The implication of the findings of the study was that the emotional intelligences and work outcomes are important variables that governments, employers, institutional management need to give more attention especially among University workers and other related workforce for high job performance and low deviant work behaviour.

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Authors: Isiaka K. EGBEWOLE, Lateef Damilare OLUSESI, Abdulmaleek O. ABDULAZEEZ

The study investigated the compensation management and employees’ job satisfaction among staff of the Central Bank of Nigeria, Lagos; it further examined the effect of wages and salaries on the bank’s staff job satisfaction. These were with a view to providing information on the impact of compensation on their job satisfaction. The research design adopted for this study was descriptive survey. The study population, 140, was randomly selected using Taro Yamane formula. The questionnaire was used to gather relevant data. The collected data was analyzed using regression analysis. The results showed that value of R square 53.4% of the variation in the dependent variable (wages and salaries) is explained by the independent variable (employees’ job satisfaction). The model is highly significant at F = 156.832, p = .000, which shows that it can be used to predict the outcome variable. The value of coefficient (β = 0.140) is significant and positive, showing that wages and salaries lead to increase in employees’ job satisfaction. The results also showed that value of R square – 75.3% of the variation in the dependent variable (direct and indirect) – is explained by the independent variable (employees’ job satisfaction). The model is highly significant at F = 417.091, p = .000, which indicates that it can be used to predict the outcome variable. The value of coefficient (β = 0.868) is significant and positive. The results of this study indicate a link between total compensation management and employees’ job satisfaction. The study concluded that awareness of the total compensation package of employees will help management to ensure that they create avenues for the employees to get abreast with the policies and compensation packages.

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Authors: Nusirat Ojuolape GOLD, Hope Osayantin AIFUWA, Muhammed Kamaldeen USMAN, Muhammed Lawal SUBAIR, Albert OSAZEVBARU, Betsy Moroyin OLOYEDE

The objective of this study is to investigate the influence of an educationally diverse board on sustainability reporting of listed consumer goods in Nigeria for the period 2014-2019. We developed a sustainability disclosure index using the Global Reporting Initiative (GRI) guidelines to score the information content of annual reports relating to sustainability performance. Board members’ education level and background were used to proxy education diversity in the boardroom. We employed descriptive and inferential statistics to summarize the data and to draw an inference on the population studied. Results from the panel least squares regression revealed that board educational background diversity positively and significantly affects the sustainability reporting of consumer goods firms in Nigeria. However, we found no evidence on the nexus between diversity in the level of education of board members and sustainability reporting. The study concluded that board education diversity influences sustainability reporting in Nigeria. Consumer goods firms should frequently conduct workshops and symposiums on environmental and social reporting issues for their board members and employ directors from a diverse educational background into the board.

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Authors: Lia ROY, Md.Rashed MOLLA, Haradhan Kumar MOHAJAN

The method of Lagrange multiplier is a very useful and powerful technique in multivariable calculus. In this study, interpretation of Lagrange multiplier is given with satisfactory mathematical calculations and shows that its value is positive. For the sustainable development of an industry, cost minimization policy is crucial. In any industry, the main objective is to minimize production cost for maximizing its profit. By considering Lagrange multiplier technique application an attempt has been taken here in cost minimization problem subject to production function as an output constraint. To predict the future performance of an industry, mathematical calculations are necessary and all the procedures are given in this paper with detail mathematical procedures. In this study, an attempt has been taken to minimize cost by considering three variables capital, labour, and other inputs of an industry by the application of economic models subject to a budget constraint, using the Lagrange multiplier technique, as well as, using necessary and sufficient conditions for minimum value.