Annals of Spiru Haret University. Economic Series

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.