Insights into Economics and Management Vol. 10

This paper examines the effects of foreign workers’ outward remittances on the economic activity of a country that hosts foreign labor by developing a new econometric technique to measure the effect of workers’ outward remittances on gross domestic product of the world’s largest oil producer, namely Saudi Arabia. Results indicate that outward remittances have negative and significant effects on all types of aggregate demand. The total effect of outward remittances on GDP is, then, negative. The study findings prove that the net effect of non-Saudi workers on GDP is positive for the Saudi GDP.

Talent has emerged as a potentially important source of competitive advantage in today's corporate world. It is the foundation for establishing an organisation that is capable of learning, inventing, and adapting, as well as implementing new procedures. Talent management is defined as "extra management processes and opportunities put in place for persons in the business who are seen to be gifted." This article aims to provide aguidance for racers who want to grow their businesses by extending their success on racing tracks to business routes. This post is based on data acquired from in-depth interviews with three business owners who are also racers. During the interview, opinion on benchmarking via talent in motorsports and companies was requested. This research showed the necessity of talent management as seen through the lens of how great performers in motorsports have managed to drive their businesses while still generating great achievements on the race courses. The function of the business owner will be to act as a catalyst for increasing the output from bike manufacture. They might also help fund research and development so that nice motorcycles with high performance and durability may be produced.

In the last 30 years, developed economies throughout the world have utilised Information Technology (IT) in many aspects of life, particularly in its use to promote efficiency in companies and the links between the company and its internal and external stakeholders. Though technology has been integrated in everyday life in established economies throughout the world, particularly in the way they define strategy and business, little can be said about the progress of such new technologies in developing countries for a variety of reasons. Poverty, insufficient facilities, poor Internet penetration, high energy costs, corruption, and an unpredictable political system are all issues that have contributed to the low adoption and use of IT in developing nations to far. Since the mid-2000s, however, the pattern appears to be shifting. As a result of the increasing use of smart phones, internet use has increased, becoming more accessible to a mostly young and educated population in recent years.

The article examines the financial stability of municipalities in conjunction with financial and budgetary security. The analytical base is provided by the information of the Federal State Statistics Service, the section "Municipal Statistics", the database of the Leningrad Oblast. The article proposes methodological approaches to the assessment of financial stability and security of municipalities that can be used by authorities at all levels for monitoring studies of the sustainable and safe development of municipalities. The assessment of financial stability and financial and budgetary security will offer a more representative measure of the effectiveness of municipal management. The issue of assessing the financial stability and protection of municipalities remains virtually unexplored, as its solution needs clarification of the methodological and theoretical provisions for the municipal level assessment of these categories.

This article asks whether a strategic opportunity exists for a company producing products with the label ‘Made in Germany’ to relocate production to Asia while retaining German engineering. This article focuses on the prevailing market situations of several multinational corporations based in Germany, which are encountering growing competition from Asia due to disadvantages in product price, delivery costs and transportation time that are related to a non-adapted and non-future oriented sourcing concept. Through an empirical research study, respondents from Asia were asked about their willingness to accept the price of a ‘Made in Germany’ product, the importance of price, their opinion about delivery issues, and their acceptance of local production in Asia. Total responses of N = 636 (100.0%) were collected, including n = 108 (17.0%) responses from Asia. The results are addressed to strategic management for German companies that can gain competitiveness through a relocation of production to Asia while considering long-term requirements. The results of the study suggest that the fundamental strategy of pairing German engineering with local production in Asia is worth pursuing in which the market conditions of tomorrow are considered. The results show also, that prevailing sourcing strategies of German multinationals may be wrong and therefore require an adaptation due to future market and customer realities.

Today the corporate retail stores are the focal points for purchasing decisions of middle and high-income groups in urban India. However, each corporate retail store has its own method of retailing. Storing the products differently at same locality, location advantage, self-servicing outlets, windows hopping, large scale discount, specialty stores are some of the models retailing stores have adopted. But only some of the models are only popular among the consumers. Consumer’s preferences and choices are varying across different retail models. In this context the present study wants to explore significant difference among corporate retail stores in Vijayawada in consumer preference and choices. The information empowers modern retail malls as well as conventional retail stores to compete more efficaciously in the marketplace leading to greater customer-satisfaction.

The enterprise who wish to continue in business should adopt the system of cooperation with other organizations engage in the activity, which assist it in achieving its aims and in achieving the objectives of economic institutions collaborating, the Utility is mutual in this case, because the common interest that emphasizes the need for cooperation. This paper derives a importance from the important strategic alliances and their role in fostering relationships and opportunities available to the national economy and to open local Markets to World Markets, From here the importance of the study of the strategic Alliances between Al-Sahara Libyan Bank and the French BNP Paribas Bank.

The strategic alliance between economic option that promotes growth and development by allowing pooling capacities and competencies of allied economic organizations, this study and evaluation of its Profitability activities became important so as to ensure its efficiency and effectiveness. Where, the Profitability activity is one of the most important activities, which ensure the significant reason for the importance of evaluation. The research aims to study and analyze the Profitability which be applied at one of the commercial banks that operating in Libya (Sahara Bank), after entering into a strategic alliance with the French bank (BNP PARIBAS).

The main results of the study followed: a) the lower on the value of profits, the financial position and deposit certificates. b) There is a decline of dealing with the loss of important elements customers for lack of confidence in the foreign partner.

The aim of this paper is the analysis of the problem of modelling of claim counts in insurance that implies the study of variations of their occurrence through finding out the distribution which fits the observed data most adequately. As it is well known, in practice many cases of discontinuous variables can be modeled utilizing the Poisson distribution. However, examples of discontinuous random variables that do not adapt to this theoretical range model can often be found. One of these is the frequency of adverse events in motor third party liability insurance when some of the derived Poisson distributions may be more adequate, for example Poisson-Gamma (negative binomial) distribution, Poisson-Inverse Gaussian distribution, Poisson-LogNormal distribution, etc. Among the models that have been derived from the elements of Poisson processes, in this paper the model known as Good risk/bad risk (good driver/ ad driver) model is analyzed for the modeling of claim counts in automobile third-party liability insurance. In that sense, the most important aspects in the process of choosing the probability of claim numbers have been studied on a chosen sample from a Serbian insurance company and it has been found that appropriate sample analysis that was based upon the study of the previous experience of the insured was one of the key elements from the point of view of determining adequate premium systems.

The purpose of this article is to investigate technique for finding the best model for estimating wood fuel need in Greece for the years 2020, 2025, and 2030, with the aim of making forest bioenergy decisions. A complete time series of historical data exists that concerns a) the consumption of fuelwood and b) the six most important from the independent variables that could influence the consumption of fuelwood, which data cover the time period 1989-2010. The evaluation and choice of the best model was realized with the help of the following six statistical criteria: a) the size of standard error of theoretical values of dependant variable, S.E., b) the value of adjusted R square, , c) the non-existence of autocorrelation among the residuals (?i) through the criterion Durbin-Watson, d) the statistical significance of models coefficients through t criterion, e) the statistical significance of models through F criterion and f) the non-existence of multicolinearity through the values of Variance Inflation Factor. The price of fuelwood influences negatively the consumption of fuelwood, namely as the price of fuelwood increases the consumption of fuelwood decreases. The price of heating oil influences positively the consumption of fuelwood, namely as the price of heating oil increases the consumption of fuelwood increases.

This paper begins with a comprehensive analysis of the literature on entrepreneurship, covering everything from how to describe it to its macroeconomic effect and the various stages of entrepreneurial start-ups. The literature delves deeper into the resources required to make such enterprises successful, as well as the many agency issues that may emerge between the entrepreneur and other financial backers. The article is based on two examples of new ventures in professional service companies (PSFs), and it evaluates the interaction patterns between the entrepreneur and other financial investors, describing potential challenges that may arise in real life, and how to overcome them. One of the case studies had the good fortune of successfully resolving such a relationship, resulting in the satisfaction of all stakeholders and the development of a long-term entrepreneurial venture, while the other case study ran into similar issues, ultimately leading to bankruptcy. Keywords: entrepreneurship, entrepreneur, case studies, professional service firms, sweat equity, shadow equity, resources, conflict of interest, financial investors, MENA region.

This research aims to present a conceptual framework relating a city’s industry mix to the population growth and its human capital stock. The author argues that when an industry matures or shows signs of decline, a better-managed city can quickly identify other potential industries to sustain its growth. The city has a greater likelihood of upgrading its workforce and improving the quality of its human capital. Better quality human capital in turn helps to advance the city’s industry planning and sustain its economic position. The suggestive evidence from a sample of eight manufacturing-belt cities and a case study on the city of Detroit follows the conjecture of the framework. When a city exercises a meaningful industry strategy and rebalancing, the educational attainment/human capital of its adult population improves. In turn, the better-quality human capital improves a city’s industry mix and reinforces its economic position.

While the city of Detroit’s financial insolvency has been examined by researchers from various fields and several factors are considered attributable to the event, the author believes the center of all issues is merely the city’s lack of a diversification strategy. While the auto industry did deliver Detroit a period of prosperity, this over-reliance on one industry inevitably brought financial difficulties on the city, as the industry matures along with increased competition. This unfortunate outcome derived from a non-diversifying strategy is well predicted by the Portfolio theory. Thus, the author believes that with an appropriate strategy of diversification, the city of Detroit could largely avoid its financial insolvency.

This study suggests at least two avenues that warrant future research. First, although it is well recognized that a city’s growth and decline is highly related to the life cycle of its industries, there is very little scholarly effort to systematically analyze this issue in the context of the Portfolio Theory. The current effort could stimulate research attention toward this direction. Second, a systematic analysis on the factors that contribute to a city’s economic development is much needed.

This paper reasons about the economic structural change and economic growth in Egypt amid the period 1983-2014. This paper utilizes the procedure of Vries et a. 2014. The paper utilizes the novel Penn World Table (PWT) adaptation 9 information base to cover the period somewhere around 1983 and 2014. It is found that there were economic structure changes amid the period 1983-2014 as the significance of the agriculture sector declined over the time, the significance of the industry sector expanded since to 1990, and the significance of the service sector expanded following 2000. Additionally, this exploration affirms that there is a solid connection (with a coefficient correlation of 85.11 percent) between the two series of employment and GDP growth rates. As indicated by the labour productivity deterioration the inside impact was constantly more noteworthy than the aggregate reallocation impact However, in the event that we take a gander at the two parts of the aggregate reallocation impact, unmistakably the dynamic reallocation impact has a major part in deciding the total productivity growth. Therefore, another strategy ought to be intended to support the voluntary labour movement crosswise over sectors and areas in Egypt.

Companies engage in various international relationships with external stakeholders to create attractive offerings. This book describes the most common online business collaboration concepts in international environment, and compare their characteristics. The concepts are evaluated in terms of their implications for companies, particularly in innovation and big data collaboration contexts. The study is based on the literature findings on common online business collaboration concepts, analyses of their characteristics, and an evaluation of implications from a company’s perspective. The key implications for a company include the need for interaction with various external stakeholders to enhance innovation, opportunities and access to important resources, and the need to prepare for online network changes. While many collaboration concepts are utilized in contemporary business literature, their use in traditional research varies, and the concepts have not been analyzed and compared together within online environment.

Despite significant advances in many countries, as measured by the degree of commercial bank progress and development. This investigation and assessment of its credit activities became essential in order to ensure the quality and effectiveness of the organisation. Whereas, credit is one of the most critical tasks, ensuring the significance of assessment. The research aims to study and analyze credit banking which be applied at one of the commercial banks that operating in Libya (Sahara Bank). Commercial banks simply do not move away from their role as a financial mediator, allocating financial resources to fulfil diverse demands in order to make a profit. The main results of the study followed: a) the lower on the risk index of non-payment for loans and burdens and the lower of the safety margins to meet the risk of the loans. b) Despite the importance of measuring the cost of each activity separately to make sure of its efficiency and to keep track of any problems that may encounter this activity and affect its profit, but the accounting system that used does not provide data and information on the costs of each revenue activity. The Sahara Bank's most essential suggestions include evaluating risk lending in order to offer meaningful periodic information and effectively establishing an accounting system, as well as the necessity to scientifically and practically offer competent human cadres.

In this paper we present an optimization approach to assessing the performance of service organizations from an Efficiency Analysis standpoint. In what concerns the empirical illustration, even though the paper employs data from a sample of Decision Making Units (DMUs) pertaining to a public system of academic libraries, there is no loss of generality if and when other kinds of organizations are considered. Summing up, our approach combines in a simple way efficiency scores computed from the estimation of selected Data Envelopment Analysis (DEA) models and a long run evaluation provided by Markovian analysis. The Markovian approach provides better knowledge concerning the time delay required for efficiency to be attained for the first time when a prescribed operation plan happens to be adopted.

The text is organized in five sections that include this introduction. The second section brings together some background ideas and results that helped found the paper. In the next section the methodological procedure is explained, followed by empirical findings in the fourth section. Conclusions, limitations and pending issues are presented to close the text.