Annals of Spiru Haret University. Economic Series

DIGITAL RESILIENCE IS THE NEW NORMAL OF HIGHER EDUCATION: STUDENT AND TEACHER PERCEPTIONS FROM ROMANIA

Laura IACOB, Iuliana PARVU, Claudiu CHIRU — Thu, 01 Feb 2024 00:00:00 +0200

This paper aims to emphasize the fact that digital technologies in higher education are a necessity, both teachers and students must develop their ability to adapt and deal with informational technology challenges. Data collection was carried out through the administration of two online questionnaires, addressed both to students and teachers from the Faculty of Law and Economics, Spiru Haret University, in December 2021. The students shared their personal experience regarding distance learning in relation to the classical system (in classroom). Second questionnaire measures the frequency of teaching-learning methods, the ways of organizing the teaching materials existing in the eLearning platform, the media resources, evaluation methods used in teaching activities at distance and perceptions regarding some issues related with eLearning implementation. Based on the results, the authors highlighted that the online education process cannot be achieved through a simple translation of the didactic activity from the classroom to the virtual environment. The preparation of didactic materials for eLearning system requires more time and digital skills and special protection of intellectual property rights. The sanitary crisis accelerated the digitization of education, so that students are already aware of the advantages of E-Learning, but some disadvantages of this system can only be combated through blended learning.

Globalisation and current employment situation in South Africa: An exploratory enquiry

Zanele L. Mpabanga, Xavier Knight, Wilfred Ukpere; Foluso Adekanmbi — Thu, 08 Feb 2024 00:00:00 +0200

Globalisation is a broad concept that has continuously impacted various aspects of human endeavours. Globalisation has influenced the realignment of business strategies as well as impacted the availability of jobs in many countries. In modern organisations, managers must understand how current globalisation impacts employment situations. Since the dawn of contemporary globalisation in the early 1990s, several path breaking advances have emerged. These advances have also impacted the ways works are coordinated in the workplace. For instance, recently the use of independent contractors has increased as opposed to permanent appointed employees. As a matter of fact, globalisation has impacted employment situations in several ways. Hence, the current paper is an attempt to explore how globalisation has impacted employment situations in South Africa. The main finding of the paper revealed that there is a rising trend in job insecurity in most organisations owing to advanced sophisticated technologies and the utilisation of more atypical employment pattern in the form of casualisation.

Strategic Total Rewards accross Generations during Pandemic

Calvin Mabaso; Prof, Ms — Fri, 09 Feb 2024 00:00:00 +0200

This study explored the influence of the Fourth Industrial Revolution (4IR) on total rewards within the pharmaceutical industry, specifically focusing on Middle and Senior Managers as the sample. The study explored the total rewards that the sample found valuable based on their gender and generational cohort, ie, Baby Boomers, Gen X and Millennials. A qualitative research approach utilised for the current study uses phenomenology to explore employees' lived experiences in the pharmaceutical industry. Data was gathered by conducting semi-structured interviews, with open-ended questions, to gain insight into specific topics, such as 4IR, COVID-19, total reward preferences, age and gender. The research findings indicated that 4IR and Covid-19 influenced pharmaceutical industry employees’ total rewards preferences. The findings also indicated that total rewards preferences are dependent on an employee's age, gender and life roles. An interesting finding was that regardless of age and gender, all employees valued the total reward of well-being above all others, but this reward was the most difficult to attain from their employer. The findings from the study may enable companies to become employers of choice.

SUSTAINABILITY ACCOUNTING AND INTEGRATED REPORTING IN THE CIRCULAR ECONOMY

Luminita IONESCU, Maria ANDRONIE — Tue, 27 Feb 2024 00:00:00 +0200

: Circular economy is a priority for the European Commission and European Parliament. Recently, the European Commission adopted the new circular economy action plan, in order to reduce pressure to natural resources and to provide the necessary conditions for the sustainable economy.

Sustainability accounting has attracted the attention of professional accountants, private organizations, public institutions and governments all over the world, in order to implement new methods to the circular economy and to measure the circular economy disclosure.

Sustainability accounting and integrating reporting in the circular economy are catalysts for circular business models, very useful to redefine values, measuring the impact and risks in waste management and recycling. Thus, the circular economy is a good opportunity to make European economy more competitive and innovative, associated with financing and accounting for circular business. Contributing to the global economy, sustainability accounting provides opportunities for investors to transform their businesses and increase business profitability.

The Relationship between Motivation and Job Satisfaction of Administrative Staff at a Selected University in Cape Town

Zintle Mnyani, Darlington Onajaefe, Wilfred Ukpere; Foluso Adekanmbi — Thu, 01 Feb 2024 00:00:00 +0200

This study investigated the correlation between motivation and job satisfaction. The study conducted a detailed analysis of the intrinsic and extrinsic elements that influence the motivation and job satisfaction of administrative staff. The study employed a quantitative method and utilised correlation for data analysis. Data on the factors that influence employee work satisfaction at a specific university in Cape Town were collected using a five point Likert scale questionnaire. The population consisted of 77 respondents, specifically administrative staff. Out of the 54 responses were received, the response rate was calculated to be 70%. The responses were examined using descriptive and inferential statistics. The findings indicate that there is a strong positive correlation (0.695) between work motivation and job satisfaction, which is statistically significant at a p-value of 0.001 (p<0.05). There is a clear and important connection between work motivation and job satisfaction among the administrative staff at the University. Put simply, there is a direct correlation between increased work motivation and job satisfaction. Hence, this study has established that there is a statistically significant correlation between employee motivation and job satisfaction.

Medicinal Herbs and Biodiversity Resources in Nigeria: An Ethnographic Analysis of their Governance Mechanisms and Implications for Sustainable and Economic Development

Olusegun Fariudeen Liadi, PhD, Musediq Olufemi Lawal, PhD, Olawale AKINRINDE — Thu, 01 Feb 2024 00:00:00 +0200

This article examines the present systems for regulating biodiversity resource use, with a specific focus on Osun State, Nigeria. The study undertakes an exploratory research design due to the novelty of the subject matter. For data collection, qualitative research methodologies, specifically in-depth interviews (IDIs) and key informant interviews (KIIs), were purposefully adopted. Herbal medicine sellers were key participants in the in-depth interviews, while key informant interviewees included a diverse group of leaders of herb sellers' associations, traditional healthcare providers, government officials responsible for Forestry Resources Management, practicing ethnobotanists, and knowledgeable academics with expertise relevant to the subject matter. The study further unfolds a comprehensive analysis of the threats to biodiversity, delving into the underlying causes and far-reaching consequences of biodiversity depletion in Nigeria. The study's findings further shed a discerning light on the regulatory mechanisms governing biodiversity utilisation in Nigeria. Despite the existence of these mechanisms, they have struggled to realise the anticipated positive outcomes. This predicament is largely attributable to a lack of strong political will on the part of the government to ensure compliance among users of Nigeria's rich biodiversity. A critical observation is that the legal and policy frameworks that oversee biodiversity in Nigeria have not undergone periodic reviews, rendering them out of touch with current societal dynamics. Consequently, traditional medicine practitioners and vendors of medicinal herbs, among other biodiversity users, have exploited this policy vacuum to exploit plant, tree, and other biodiversity resources unabated. Of notable concern is the unregulated exploitation of plants for medicinal purposes, particularly the trade in herbs, which has emerged as a significant threat to public health and well-being. This unchecked practice undermines the prospects of Sustainable Development Goal 3 (SDG-3), which prioritises health and well-being. In light of these findings, the study strongly advocates for a two-fold approach to address this pressing issue. First, it underscores the critical importance of fostering robust political will to enforce existing regulations and institute much-needed reforms. Secondly, constant monitoring and oversight of medicinal herb utilisation and other biodiversity resources in Nigeria by government agencies are deemed imperative to safeguard the nation's natural wealth and the health of its citizens.

Keywords: Biodiversity, Mechanisms, Medicinal Herbs, Ethnobotanist, SDGs

JEL CLASSIFICATION: I30; I38; J18; J38; Q01

MANAGEMENT OF THE ORGANIZATION OF PERSONNEL DOCUMENTS AND ACCOUNTING OPERATIONS RELATED TO PERSONNEL SETTLEMENTS

Lăcrămioara HURLOIU, Bianca RUSU, Iulian HURLOIU — Tue, 27 Feb 2024 00:00:00 +0200

Lately in Romania it has been noted that there is a concernn for establishing ethical rules of the accounting profession to ensure professionalism, confidentiality and objectivity in performing the management work. The accounting theories underlying the management personel settlements assists the public entity tomeet its objectives through a systematic and methodical approach that evaluates and improves the effectiveness of the management system based on risk management, control and management processes.

Systems Thinking in Workplace Health and Safety: A theory and Practice Nexus

Thu, 01 Feb 2024 00:00:00 +0200

This paper undertakes a conceptual overview of system thinking in workplace safety and health with the intent of bridging the gap between theory and practice. It is based on the premise that there has been so much discussed in theory with very little to practice, that is making the modern workplace more hazardous and challenging. This study relied on existing literature and based on the frame an emerging economy perspective was articulated and discussed. The paper draws from a narrative qualitative approach design. The study concludes that there is more to be done in practice when it comes to workplace health and safety. The reality that modern workplaces evolve from a system view thus demands a holistic approach to viewing workplace safety and health, as it remains foundational to employee retention and effective contribution to the survival of the workplace.

AN ASSESSMENT OF THE COVID-19 PANDEMIC IN SOUTH AFRICA:

Mario Mandlazi, Sheilla Nyasha — Thu, 08 Feb 2024 00:00:00 +0200

The conventional understanding is that the coronavirus pandemic (Covid-19) has challenged the development of the economies at all levels – global, regional and domestic. The need to assess its damage to the South African economy became imperative if the economy has to be resuscitated in an informed and targeted way. The study therefore aimed at assessing the impact of the Covid-19 Pandemic in South Africa, assessing the effectiveness of the South African government response to Covid-19 and outlining government strategies that have been employed in an effort to rebuild the South African economy. The study utilised the qualitative research approach in which semi-structured interviews were used to collect information on a purposive sample of 12 participants. Through the use of thematic analysis as the data analysis method, the study discovered that the Covid-19 pandemic has both long-term and short-term impacts on the South African economy such as loss of employment, contracting GDP, depressed growth below pre-pandemic projections and lack of organisational performance. In response to Covid-19, the government introduced supporting programmes to businesses, regulations aimed at allowing credit facilities and partnership with various stakeholders. Strategies such as expansionary monetary strategies and the introduction of specific programmes targeting the resuscitation of key economic sectors have been implemented to rebuild the economy. The study, therefore, recommends that the government needs to build a buffer of resources in preparation of devastating pandemics such as Civid-19, such that when the country is hit by the pandemic, there are avenues that can be explored to resuscitate the economy. There is also need to ensure that there is a platform where business organisations can flourish as they can access capital and resources.

AI NLP-GPT MODELS: CHALLENGES AND PROSPECTS IN BUSINESS DECISION REALMS

Jovan IVKOVIĆ , Jelena LUŽIJA IVKOVIĆ — Tue, 27 Feb 2024 00:00:00 +0200

This paper represents a natural progression in the ongoing investigation into the potentials and challenges associated with the application of AI NLP GPT models for decision support. Building upon the foundation laid by the prior study titled "Conceptual Analysis and Potential Applications of DL NN Transformer and GPT Artificial Intelligence Models for the Transformation and Enhancement of Enterprise Management, EIS/ESS, and Decision Support Integrated Information Systems," the current work serves as a valuable continuum, providing further insights and validation of previous research findings. The study not only reaffirms the robustness of AI models in structured environments but also ventures into exploring their limitations when confronted with unstructured and non-pretrained scenarios inherent in real-world business decision-making. Through an in-depth conceptual analysis, the paper sheds light on the intricacies and potential shortcomings of deploying AI models in such dynamic and complex decision-making contexts. This iterative approach contributes to a more nuanced understanding of the capabilities and constraints of contemporary AI systems, providing valuable guidance for their practical implementation in diverse business scenarios.

In essence, this work extends beyond a mere sequel, serving as a critical checkpoint in the continuous evolution of research in this domain. It accentuates the adaptability and real-world relevance of AI models while critically examining their applicability in less controlled decision-making environments.

NEW PRODUCT DEVELOPMENT (NPD) IN GLOBALIZED MARKET

Dragan ILIĆ, Dragoljub JOVIČIĆ, Radivoj PRODANOVIĆ — Fri, 01 Mar 2024 00:00:00 +0200

In the introduction of the paper has been clarified the meaning and content of the term new product development, then analyzed the relationship between globalization and product development, and how one influences the other. Furthermore, was analyzed the importance of the steps of the product development process, without which a company cannot develop new products successfully and efficiently. Example of Nestlé corporation was described in details. Important key concepts and the process of product development were explained and finally was described the way Nestlé develops its products.

SUSTAINABLE FINANCE – A WAY TO IMPROVE SOCIAL AND ECONOMIC SUSTAINABILITY. THE ROMANIAN EXPERIENCE

Adina TRANDAFIR — Thu, 01 Feb 2024 00:00:00 +0200

Sustainable finance is a concept that refers not only to environmental problems, but also to social objectives such as those social goals included in the 2030 Agenda for Sustainable Development. Summarizing, it refers to societal impact. In literature, this term - societal impact – is used with the meaning of social, environmental, medical or cultural impact [Rizzi F. et al., 2018; EVPA Report, 2017].

The current challenges regarding the future development of the social finance market refer to the opacity of its conceptual bases. For this reason, this article aims, among other things, to clarify the basic concepts and instruments of social finance and their continuously developing market, analyzing the literature in the field. Thus, first of all, we analyze the structuration processes that take place in social finance and the institutional actors involved. Also, a conceptual delimitation of social investments and the way in which they are selected is necessary.

Last but not least, reviewing the literature, this article addresses to the analysis of the financial instruments (FI) used on the social finance market and their impact, also addressing the issue of the usefulness of tailored finance of a social purpose organization.

Regarding the experience on the social finance market in Romania, this article aims a static and dynamic analysis of the financial instruments used, as well as of the entities in the Romanian social economy, proposing solutions to improve public policies in terms of sustainable finance and social economy from our country.

IMPACT OF TRADE UNIONS’ PRESENCE ON THE ENHANCEMENT OF SAFETY PERFORMANCE OF WORKERS IN THE MARITIME INDUSTRY IN LAGOS STATE

Pedro.Uwadum ADAGBOR, Wilfred Ukpere; Foluso Adekanmbi — Wed, 31 Jan 2024 00:00:00 +0200

Trade unions plays a pivotal role in championing the rights and well-being of workers, including the enhancement of job safety performance. The study investigated the impact of trade unions’ presence in the enhancement of job safety performance of workers in the Maritime industry in Lagos state. Proportionate random sampling technique was employed to select two hundred (200) workers. The data collection instrument consisted of a researcher-designed questionnaire. The data analysis involved pie charts and multiple regression analysis. The findings reveal that trade unions’ presence significantly enhance workers’ adherence to safety regulations and standards to perform their job safely (R=.783, P<0.05); trade unions’ presence significantly enhance safety knowledge and skills of workers to perform their job safely (R=.590, P<0.05); trade unions’ presence significantly improve the provision of proper safety equipment to enhance workers' job safely (R=.671, P<0.05); trade unions’ presence significantly enhance workers with hazard identification and control to perform their job safely (R=.592, P<0.05); trade unions’ presence significantly enhance support to workers who experience injuries or accidents to perform their job safely (R=.671, P<0.05) in the Maritime industry in Lagos state. Considering the findings, it was therefore suggested that trade unions should continue to actively engage with workers and employers to promote adherence to safety regulations and standards; prioritize the provision of safety knowledge and skills to workers through ongoing training programs; actively support employers in ensuring the provision of appropriate safety equipment to workers; work closely with employers to strengthen hazard identification and control processes in the workplace; focus on establishing support systems for workers who experience injuries or accidents.

DIGITAL RIGHT MANAGEMENT: SAFEGUARDING COPYRIGHT IN THE CYBER ERA

Irina Atanasova — Thu, 01 Feb 2024 00:00:00 +0200

Copyright infringement is commonly perceived as a private economic transgression, typically addressed through private legal actions and remedies. The advent of digitalization, encompassing copyrighted works such as text, music, and video, has enhanced unauthorized reproduction. The ubiquity of the Internet enables infringers to replicate thousands of copyrighted works at minimal cost.

This article outlines the methodologies of digital rights management (DRM), clarifying its protective mechanisms and highlighting the adverse consequences associated with DRM implementation. As a technological framework, DRM is specifically engineered to prevent unauthorized copying of digital content. It assumes a pivotal role in safeguarding content exchanges within the digital landscape, thereby minimizing copyright infringement and plagiarism. The paper further explains potential future trends in copyright protection and the evolving landscape of DRM.

CARBON ACCOUNTING IN THE CIRCULAR ECONOMY

Luminita IONESCU — Tue, 27 Feb 2024 00:00:00 +0200

Carbon accounting in the circular economy became a priority for the professional organisations because climate changes are an important issue on international level and carbon emissions are increasing across the globe.

Research on carbon accounting is a new area, but public or private entities must quantify their greenhouse gas emissions in order to reduce operational costs, and to improve operational efficiency.

Carbon accounting and professional organisations can provide leadership and explain what needs to change within organisations in order to achieve carbon emission reductions at the pace and scale that is required.

IASB (International Accounting Standards Board) is actively seeking to embed carbon accounting into current accounting practice and to develop standards for reporting on carbon emissions. Professional accountants will play a central role in helping managers to integrate climate and other environmental and social value into traditional reporting. The governments and professional organisations are working together in preparing for and delivering carbon reduction and net zero targets. The European Union has already set targets to reduse greenhouse gas emissions by 2050.

Influence of Job Satisfaction and Organisational Commitment on Employee Turnover Intention in the Chemical Industry in South Africa

Wed, 31 Jan 2024 00:00:00 +0200

The study aimed to assess the extent to which work satisfaction and organisational commitment influence employee turnover, both individually and concurrently. The assessment was conducted quantitatively through the utilisation of an online survey approach to gather data from a sample of 249 respondents who were randomly chosen from the organisation operating in the specialty chemical business. The study discovered a detrimental absence of connection between employees and supervisors, which contributes to a climate of job unhappiness among the participants. Compared to other characteristics that have an influence, a lack of strong dedication to the organisation (known as affective commitment) resulted in an increased inclination to resign from the company. The study's findings suggest that an increase in job satisfaction and organisational commitment leads to a decrease in turnover intention. The supervisor's influence and emotional dedication to the organisation are recognised as being more substantial than other aspects. Consequently, research has shown that contentment with a colleague, manager, and client (in descending order) has a beneficial impact on affective commitment. Consequently, heightened levels of work satisfaction and organisational commitment results in a reduction in turnover intention. The study shows that employees' overall happiness with their supervisors, colleagues, and customers is associated with a decrease in their intention to leave the company, indicating a higher likelihood of retention.

Policy (In)Consistency and Sustainable Development Goals in Africa: A Systematic Literature Review

Olawale Olufemi Akinrinde, PhD, Professor Arnesh Telukdarie — Thu, 01 Feb 2024 00:00:00 +0200

The attainment of Sustainable Development Goals hinges on the alignment of SDGs policies. This systematic literature review delves into the intricate relationship between policy inconsistency and sustainable development goals in Africa. Through this study, we unveil the challenges, implications, and the potential pathways that emerge at the intersection of policies and the quest for sustainable development in Africa. Our investigation takes a close look at the diverse dimensions of policy coherence, encompassing economic, social, and environmental considerations, and how these dimensions impact the progress of SDGs. Employing a systematic review approach, we meticulously filtered through 1745 results from databases, selecting 353 articles for a comprehensive analysis. Our findings underscore the significant role that policy inconsistency plays in impeding the attainment of SDGs in Africa. We propose an approach anchored on the alignment of SDGs policies and each goal of SDGS for the attainment of the 2030 SDGs agenda in Africa.

AUTOMATED (SEMANTICS DRIVEN) DATA RETRIEVAL FROM FISCAL DOCUMENTS: A COMPREHENSIVE APPROACH

Tue, 27 Feb 2024 00:00:00 +0200

The importance of paper documents in regular business flow cannot be underestimated. They are an important part of the business domain increasingly digital landscape, complementing digital solutions by providing a plus of transparency, reliability and security. Making prompt decisions in the business world requires fast access to relevant and up-to-date data, and working with paper-based documents is very inefficient. Digitization of documents is ubiquitous, and digital document management systems (DMS) play an important role in fields like science, business or health. In the business domain, Enterprise Resource Planning (ERP) systems represent an entire ecosystem of solutions, meant to address every aspect of the business process, in a unified approach. An important aspect of successful ERP implementations is related to the integration of DMS into the ERP. Enabling automated retrieval of data from all kinds of fiscal paper documents into the ERP is the next logical step. In this paper, we provide a hands-on approach for the task of automated text retrieval from fiscal documents. The novelty of our work resides in the manner in which we addressed the semantics of the retrieved data, such that the system associates meaning to the retrieved text elements, at the same time easing the processing of future documents. The solution is presented in a generic form, with a thorough discussion of the technological aspects. It is further implemented in the ERP system. We present and discuss experimental results, finally drawing conclusions and providing several ideas to further develop our work.