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Showing papers in "The Engineering Economics in 2008"


Journal ArticleDOI
TL;DR: In this article, the authors considered a significant global issue -gender gap starting and developing own business and analyzed the factors which positively or negatively influence the behaviour of men and women in business and also performed a comparative study of gender gap in entrepreneurship in Lithuania.
Abstract: The article considers a significant global issue – gender gap starting and developing own business. The field of business was for a long time reserved to men, thus, despite of an increasing number of female entrepreneurs during last decade, the number of female entrepreneurs in Europe, including Lithuania, remains lower than the one of male entrepreneurs. According to the data of various statistical sources, an average ratio of enterprises newly established by men and women in EU countries is about 70% and 30% (European Economic and Social Committee, 2007). Especially in developing countries where gender stereotypes formed through long decades (women’s main role is to be wife and mother) are treated as one of the most important obstacles preventing women to start their own business. Business development, achievements in work environment such as successful carrier, increased personal influence and prestige in society, in contrast with simple job, require conditionally great personal commitment which according to various sources of literature (Nordic Innovation Centre (2007); M. Minniti (2003); P. Tominc, M. Rebernik (2006)) is more acceptable to men than women. Moreover, it is supposed that own business often puts to shade personal private life; therefore it is more associated to men than women. Going deep into the field was also encouraged by the discovery that the analysed literature lacks more detailed discussion of factors that determine the emergence of gender gap in perspective of business establishment. Scientists point out various factors, attach them to various groups, however, little attention is paid to the impact of those factors to existing gender gap. At present, literature does not have an answer to such questions as: “Why do differences exist?“, “What causes them?“. The aim of the article – to determine differences of gender gap in entrepreneurship – is to review the reasons provided in literature explaining the emergence of gender gap when starting own business, to analyse and point out the factors which positively or negatively influence the behaviour of men and women in business and also, on the grounds of expert evaluation, to perform a comparative study of gender gap in entrepreneurship in Lithuania. Having performed an analysis of scientific literature, the conclusion was made that the theories of feminism and discrimination, changes of demographic factors, different value systems and various other factors best explain the prevailing gender differences between men and women. In order to systemise different factors influencing gender gap, the article provides such factor groups as cultural, organisational, economic, demographic, psychological, technological, institutional and political factors. Also the factors that influence the differences of men and women in business in three ways (increase, decrease and neutral) are excluded. Having completed a comparative analysis of gender differences in entrepreneurship, the conclusion was made that the gender differences discussed and analysed in literature are relevant also to Lithuanian entrepreneurs. An expert survey revealed that enterprises managed by men are bigger, exist longer than the ones managed by women; however, the fields of business establishment of both men and women are very similar. It is important to note that the theory emphasises different value systems of genders in obvious practise.

136 citations


Journal ArticleDOI
TL;DR: The chance of traditional direct trade from to self-service form of trade has increased the product assortment in many groups of products as mentioned in this paper, and this assortment increased the profit of the seller.
Abstract: The chance of traditional direct trade from to self-service form of trade has increased the product assortment in many groups of products.

113 citations


Journal ArticleDOI
TL;DR: The role of information and communication technologies (ICT) has been growing in the economic and social liferecently as discussed by the authors, and ICT socio-economic impact remains one ofthe most often discussed issues.
Abstract: The role of information and communication technologies(ICT) has been growing in the economic and social liferecently. Information and communication technologies areone of the basic priorities of research and development(RD ICT, organizational changes andtransformation of work processes; the social dimension ofICT; political instruments related to ICT development.In the case of ICT-related research, different visionsby information society of what ICT is and what role itshould play in directing research. Although variety ofpositions exists, ICT socio-economic impact remains one ofthe most often discussed issues. The spectrum of problemsdefined by IPTS shows that the impact of ICT is importantboth at macroeconomic and microeconomic levels as wellas on social and political processes affecting all economicsubjects’ activities.Consumers and producers form private sector andgovernment – public. ICT development has conditioned thefact that ICT is used by all economic entities in theiractivity. ICT creates opportunities for an economic entityand transforms its methods and techniques of activitysimultaneously.Evaluating the impact of ICT on business, it isnecessary to indicate that the implementation of ICTenabledsolutions is related to both internal and externalfactors. The implementation of ICT does not only meanacquiring certain software; it also affects different processesof the enterprise. The enterprise has to be able to change,because the implementation of ICT requires primarilytransformations inside the enterprise.Changes conditioned by ICT are closely related to theimpact of ICT on consumers. One of the main impacts ofICT is the capacity “to move people to the centre”. In thiscontext the European Union declares a possibility “tomove every citizen, home and school to the digital century;create literate Europe in digital systems supported bybusiness culture ready to finance and develop new ideas;ensure that the process is socially comprehensive,creating consumer reliance and enforcing social cohesion”.This includes efforts like the development of e-learning,e-government, e-health, etc.Usually e-Government is defined as the usage of ICTto provide public services (therefore, it is closely related toan administrative management unit); however, ICTenabledsolutions are also applied at various administrationlevels – international, national, regional or local. Theapplication at the local level is related to the concept of e-City. The concept of e-City is based not only on theprovision of information, but also on the possibility toinclude citizens into the life of a city more actively andmutually usefully. E.g. digital technologies (remotenetwork systems, internet and mobile technologies) areused to facilitate the process of decision-making for publicinstitutions, improve public policy in local communitiesand transform relations with citizens, business and otherpublic institutions.

61 citations


Journal ArticleDOI
TL;DR: The context of innovation research (Boden, 1991; Slater, Narver, 1994; Bessant, 2003, Trott, 2003 and others) in theoretical as well as practical levels reveals the unity of researchers' opinions stating that innovation is manifested in the interaction of the scientific research base, technology development, and market needs.
Abstract: The context of innovation research (Boden, 1991; Slater, Narver, 1994; Bessant, 2003, Trott, 2003 and others) in theoretical as well as practical levels reveals the unity of researchers' opinions stating that innovation is manifested in the interaction of the scientific research base, technology development, and market needs.

57 citations


Journal ArticleDOI
TL;DR: In this paper, the authors discussed the development of strategic individual competences in individual as well as organization level and discussed the role of organization modelling the guideline of strategic competence development and promoting the application of effective methods to develop competences.
Abstract: In today‘s world, the word “competence” is widely used in human resource management Individual’s work results and finally business success depend on his/her knowledge and skills ie competence Changing business management paradigm and increasing role of individual in organization rise radical changes in priorities identifying the need of competences and their development A competence can be defined as the entirety of knowledge, abilities, skills and attitudes, which are necessary for an individual to work effectively in particular working environment This can be professional, social and conceptual competences Professional competence in the long-term perspective is very dynamic due to fast changing technologies, but on the other hand, it can be easily defined and acquired quickly Particularity of the professional competence is determined by the individual’s functional labour activity, whereas social and conceptual competences are general competencies that are necessary for an individual despite his position in the company As a rule, namely these competences become strategically significant in the rapidly changing business world, especially while talking about managers, which enable the organization to acquire advantage due to the human factor However the research conducted by Drejer (2000) shows that traditionally education system is orientated to the formation of professional competencies, named as “tough“; whereas the attention to the “soft” competences (social, conceptual) is not significant Development of these strategic essential competences falls on enterprises and individual Analysing the development of strategic individual competences in individual as well as organization level the priorities of competence formation and development are changing recently – the development of employees’ competence based on the organizational needs is being changed into the development of competence with the priority to individual’s needs Successful development of strategic individual competences in individual level is based on the principal attitudes, integrating the perception of the need of individual competence development, deep inner motivation to educate himself or herself and preparation to the changes, bethinking of the role of organization modelling the guideline of strategic competence development and promoting the application of effective methods to develop competences The article deals with development of strategic individual competences on organizational as well as individual level

56 citations


Journal ArticleDOI
TL;DR: In this article, the authors classified the articles into four groups: international competitiveness of nations and companies; competition environment and international trade features in specific industries and markets; international finance and investments and risk management; economiccycles and foreign debt control.
Abstract: KTU Department of Economics and InternationalTrade carried out the research in 1999 – 2008 that createdthe background for the teaching of masters and doctors inEconomics and Management programs at the Department.In the period of 1999 – 2008 the journal “EngineeringEconomics” has accepted 85 articles, written by theresearches of the Department. All the articles may beclassified according to the fields of analysis into followingfour groups: international competitiveness of nations andcompanies; competition environment and internationaltrade features in specific industries and markets; internationalfinance and investments and risk management; economiccycles and foreign debt control.Because of the space limitations the aim of this articleis to cover the first two topics with the hope to analyze theother two in the next paper.International competitiveness of nations and companiesis discussed in 8 articles.It was found that competition intensity can bedescribed by these main factors: market shares distribution,market rate of growth, market profitability. The first factor– market shares distribution – is analyzed by usingmathematical-statistical methods, Stackelberg marketclassification and graphics market shares interpretation.The second factor – market rate of growth – can beexplained in such way: when market rate of growth higher,then market capacity is bigger, and competition is not sohigh, and vice versa. Another way for the evaluation of thesecond factor can be the concept of demand for productlife cycle. The third factor – market profitability – can beexplained in such way: when market profitability is higher,then sellers can get higher profit and this means thatcompetition of this market becomes higher. Thecompetitiveness management information systemmaintenance includes such blocks: product linedescription, market segments characteristics description,market competition intensity level, product demand lifecycle stage. Cluster based economic development is the keyto regional competitiveness. Cluster Based RegionalCompetitiveness Development Model has five stages:mobilisation, cluster development, diagnosis, collaborativestrategy and implementation.Competition environment and international tradefeatures in specific industries and markets is discussed in17 articles. It is shown that Baltic States are competingexporters of similar sectors of commodities. While demandin Eastern markets is shrinking, export conditions to theEU countries are getting more attractive. This encouragesBaltic States exports to the EU. Lithuania is exportingmineral products, textiles and textile article, machinery,mechanical appliances and electrical equipment, productsof chemical industries. Latvia and Estonia keep strongexport positions in these sectors too. The EU internalmarket is supposed to be an area without any tradebarriers, but there is still much to do achieving reallyunhampered flow of goods and services in Europe. It wasfound that the legal basis of the EU permits the possibilityto misuse health and safety requirements as a hamper offull economic integration of the expanding EU family.

55 citations


Journal ArticleDOI
TL;DR: In this paper, the authors analyzed the main principles of integration in the Baltic region, as well as the possible integration strategies, and the unified social, economic and technological space in the Baltics as a research area.
Abstract: Regional integration oriented transformations in the Baltic region, as well as the unified social, economic and technological space formation processes are described and analysed. These processes are comprehended as an important factor of further social, economic and technological modernization in the Baltic countries, as a precondition for more intensive and active integration of Baltic economic systems into the European and global economic and technological structures, as well as a knowledge based society and knowledge economy creation factor. The arguments determining the idea of the Baltic region community and unity, as well as opposing arguments are evaluated. The main principles of integration in the Baltic region, as well as the possible integration strategies are analyzed. The unified social, economic and technological space in the Baltic region as a research area is described. Formation of the unified social, economic and technological space in the Baltic region could be defined as an important precondition for further modernization and for more intensive and active integration of the national and regional societal and economic systems into the common European and global development processes. Formation of this unified space in the Baltic region could be comprehend as a successful case of the regional integration oriented transformations in the European Union: regional integration oriented transformations could be defined as an important aspect of the social, economic and technological modernization in the European Union in general, and as an important factor of the knowledge based society and knowledge economy creation. Regional integration oriented transformations and the unified spaces in the Baltic region formation processes could be defined as an important and a complicated scientific research area. The main research priorities in the area of formation of the unified social, economic and technological space in the Baltic region are the following ones: - the preparation of the conception of the Baltic region as a whole, including preparation and evaluation of various system indicators of Baltic region, - the complex analysis of the expressions of centripetal and centrifugal force forming in the Baltic region as a system, - the complex analysis of the arguments - determining the idea of the Baltic region community and unity, - the complex analysis of the opposing arguments to the idea of the Baltic region being a community, - the formation of regulating and self- regulating mechanisms for Baltic region’s development, - the social, economic and technological integration strategies for Baltic region. The basis for the formation of a unified social, economic, technological space in the Baltic region is the comprehension of this region as a whole. The comprehension of the Baltic region as a whole is based upon the formation and implementation of political, economic, and social development regulations, and the Baltic region as a unified geopolitical, social and economic system's development strategy preparation and realization should be understood as the principle problem of the Baltic countries' more intensive and active integration into European and world structures. The solution of these problems, requiring a deep and complete set of arguments, could be the essential basis to modernize the Baltic countries, their economic systems and societal structures. The comprehension of the Baltic region as a whole includes these important problem areas: - the commonality of the Baltic countries and unified activity system and the evaluation of the effects of these actions, - the specific distinguishing features of the countries, due to their shared problems and integration difficulties, - external and internal effects and environments, determining their integration prospects and limitations, - the integration mechanisms and conditions for them to surface and spread, - the mechanisms, and their dynamic possibilities, for more intensive and active integration into European and world structures by the Baltic region as a whole. The development of the Baltic region as a whole and its effectiveness, is largely based upon how sensible and effective these development regulations are, and also the self-regulation mechanisms. Regulating and self-regulating mechanism targeting allows the programming and planning of development, and foreseeing the forms of rational separate country specializations and their cooperation and ties with other countries. The basis of these mechanisms could be spread even in the inter-regional integration processes of the Baltic countries. The systematic studies of the Baltic region as a geopolitical, economic, technological, social and cultural whole are very prospective and actual in various ways toward the direction of practical and scientific activity.

54 citations


Journal ArticleDOI
TL;DR: In this article, the authors analyze client relation management system by disclosing the role and place of relation marketing in formation of CRM theoretical foundations and reveal the support of customers' (organisations or individual persons) and supplier's (industrial organisations or service organisations) relationship based on trust, cooperation, power distribution, communication, commitment, dependence and other features as well as the development of customers loyalty.
Abstract: The article analyses client relation management system by disclosing the role and place of relation marketing in formation of CRM theoretical foundations. It reveals the support of customers’ (organisations or individual persons) and supplier’s (industrial organisations or service organisations) relationship based on trust, cooperation, power distribution, communication, commitment, dependence and other features as well as the development of customers’ loyalty. The application of relationship marketing theory (model) in the narrower CRM conception is simply inevitable because customer relationship management cannot be only the illustration of the relationship, it is more important to perceive relationship management and development. The system of customer relationship management is presented as the system that integrates management of customers’ groups, establishment and management of marketing companies by indicating the benefit of CRM system for customers and enterprise’s employees. CRM – is everything what it is related to satisfaction of customer’s needs. What actions are needed to start creating the CRM system? It is necessary to start from the review of the following questions: what and how you are ready to present to your customers, what they expect from you and more than expect. Only afterwards it is necessary to choose necessary technologies, which can help you. The article analyses variants of CRM management system creation by reviewing different models of CRM creation, the analysis of which allowed envisaging typical elements of CRM model formation or stages of implementation process. Comparative analysis, inductive method was applied for the review and analysis of CRM models. The formed CRM implementation model integrates the elements of creation, strategy and implementation, which allowed to prepare the structured model.

52 citations


Journal ArticleDOI
TL;DR: In this paper, the authors consider the need, need, political, legal, administrative environment, and communication as three key constituents for efficient partnership in infrastructure development and service efficiency in public administration.
Abstract: Efficiency of public administration is recognized as a rather broad concept encompassing a variety of areas, therefore instruments and optimal solutions it requires must be selected individually for a single case. However, efficiency is always related to application of limited financial resources, minimal organizational costs and efforts in pursue of target results. Despite the limitation of financial possibilities, needs of society in the context of global and regional changes are constantly growing. An increased demand both for quantity and quality of services and infrastructure is observed. For complex and permanent modernization of public sector, a complex strategy of modernization is required (vision, mission, provisions, and concepts of modernization). Partnership is recognized as one of the factors of infrastructure development and service efficiency. The nature of partnership is revealed when the public sector recognizes its dependence on other sectors and starts solving governance problems by decentralizing activity. Thus the principle of partnership is consolidated both vertically (by relating different levels of administration) and horizontally (inter-sectoral). For efficient partnership three key constituents should be taken into consideration: 1) need; 2) political, legal, administrative environment; 3) communication. This enables both the compatibility of natures of different sectors and development of partnership reaching ultimate synergy. Precise identification of needs enables preparation of plans and strategies of actions. Possibilities of performance of the latter are limited by political, legal and administrative environment. Communication needs to act in two directions: between partners (internal) and towards the society (external). Internal communication strengthens interrelation and trust whereas the external one enhances approval of the society for ongoing changes. Partnership can assume a variety of forms; however roles and obligations must be clearly defined. It is recognized that each of the sectors pursues not only common goals of the project (better quality services, development of infrastructure), but personal ones as well: the public sector laying its accounts on political and economic benefits, whereas the private one striving for recognition, profit, possibilities for development. Philanthropy from the private sector or government benevolence is not a reliable foundation for a partnership. Central governments decentralize some decision-making and financial power to local tiers or share them with community members and the private sector.

48 citations


Journal ArticleDOI
TL;DR: In this article, the authors used indicators of development of the bank sector to establish the correlation of the financial sector and gross domestic product of the countries of the European Union: Central bank assets/ Total financial assets, Deposit money bank assets/(Deposit money bank + Central bank) assets, Liquid liabilities/GD, Central banks assets/GDP, Deposit Money Bank assets(GDP), Other financial institutions assets/(GDP).
Abstract: At the end of the 20th century and beginning of the 21st century the tendencies of development of the financial system and problems arising in this sector are more and more often becoming the object of scientific research as successfully functioning financial sector in every country is an important precondition for the growth of economy. Upon analyzing the development of the financial system and the influencing factors the problem of influence of the formed financial structure on economic processes cannot be dissociated from it. Indicators of development of the bank sector were used in the research to establish the correlation of the financial sector and gross domestic product of the countries of the European Union: Central bank assets/ Total financial assets, Deposit money bank assets/ Total financial asset, Other financial institutions assets/Total financial assets, Deposit money bank/(Deposit money bank + Central bank) assets, Liquid liabilities/GD, Central bank assets/GDP, Deposit money bank assets/GDP, Other financial institutions assets/GDP, Bank deposits/GDP, Financial system deposits/GDP, Private credit by deposit money banks/GDP, Private credit by deposit money banks and other financial institutions /GDP, Overhead costs and Net interest margin. Indicators of development of the market are: Stock market capitalization/GDP, Private bond market capitalization/GDP, Public bond market capitalization/GDP, Stock market total value traded/GDP and Stock market turnover ratio. Indicators of development of the insurance are: Life insurance penetration and Non - life insurance penetration. The obtained results do not confirm the researches of other authors, who analyzed the dependency of the financial sector and the growth of economy of the “old” European Union countries, as it is stated that the growth of economy determines the formation of the structure of a market-based financial system, and with the domination of a strong bank sector in the Baltic States even in rapidly growing economy, dominant strong banking sector and law average GDP per capita, does not create conditions for the formation of a market-based financial structure.

44 citations


Journal ArticleDOI
TL;DR: For the success of health care organizations, accurate measurement of health health care service quality is as important as understanding the nature of the service delivery system.
Abstract: For the success of health care organizations, accurate measurement of health care service quality is as important as understanding the nature of the service delivery system. Without a valid measure, it would be difficult to establish and implement appropriate tactics or strategies for service quality management.

Journal ArticleDOI
TL;DR: In this paper, the authors emphasized that creation and delivery of unique customer value is a basis for most marketing decisions, enabling to attract new customer as well as to retain recent one.
Abstract: After there had been proved the benefits of customer retention for an enterprise, the numerous researchers were directed their efforts towards finding the best solutions to achieve customer relationship longevity. Identification of the main predictors of long-term customer relationships still is a relevant object of scientific researches. This article emphasizes that creation and delivery of unique customer value is a basis for most marketing decisions, enabling to attract new customer as well as to retain recent one.

Journal ArticleDOI
TL;DR: In this article, a business value model based on the integral method of economic factorial analysis is presented, which allows to evaluate the impact of different level drivers on business value and to calculate the most probable dimension of business value.
Abstract: In scientific literature value is referred to as the most complete and exact indicator of business condition that reflects changes in internal and external environment of an enterprise. In a dynamic environment where risk and uncertainty are inevitable attributes of the process of the enterprise’s business forecast, due to the change of various drivers, business value may fluctuate in a rather wide range. On one hand, risk and uncertainty prompt to think in terms of future scenarios and to anticipate the full range of value dimensions. On the other hand, the fluctuation of business value within a wide range predetermines the problematic aspect of rendering the final conclusion on business value. Since business value changes with the change of influencing drivers, the analysis of drivers that have impact on business value becomes urgent. Based on such an analysis it would be possible to calculate the most probable dimension of business value. In scientific literature focusing on the issues of business valuation the aspect of the analysis of business value drivers is discussed very fragmentally. Though researchers emphasise the importance of determining the impact of value drivers that influence the dimension of business value, there is no unified approach to the classification and investigation of these value drivers. The linear classifications of influencing business value drivers presented in the works of authors who explore the issues of business valuation are inconsistent and insufficient for the evaluation of business value drivers. Given a linear presentation of drivers it is difficult to see the interrelations of the influencing business value drivers and business value or to measure quantitatively the impact of change of business value drivers on business value. Having proved the limitation of linear classifications of influencing business value drivers, a classification of business value drivers was formed by grouping the drivers that have impact on business value in levels one to five. This classification is based on the decomposition of business value established by the method of discounted cash flows. Such a graded presentation of drivers enables to have an insight to the inter-relations of business value drivers and business value and to evaluate the impact of each driver change not only on the change of the business value but also on the change of a higher level driver. The analysis of scientific literature shows that references to the application of methods in establishing the impact of drivers on business value are very limited. It is not enough to lean upon the results of the sensitivity analysis, which is presented in scientific literature as the most widely used in determining the impact of drivers on business value, because it only enables to evaluate the impact of one driver change (increase/decrease) on business value, leaving aside possible change of other drivers. Since in a factual situation the change is usually present in more than one driver, there occurs a need to apply those methods of factorial analysis which would enable a complex evaluation of the impact of change of many drivers on the change of business value. By discovering the limitation of references to the methods that may be used for value drivers investigation as well as the complexity of these methods’ selection and application, the authors of this article propose for the establishment of the impact of business value drivers on business value to adapt the integral method of economic factorial analysis, which allowed to wholly evaluate the impact of different level drivers on business value. Theoretical and empirical researches resulted in the creation of a business valuation model based on the analysis of business value drivers, which incorporates the classification of business value drivers and the establishment of their impact on value into the process of business valuation, and enables to provide the final result of business valuation – a dimension of business value.

Journal ArticleDOI
TL;DR: This discussion relates the acquisition of the new statistical evidence used for Bayesian updating to the moments, at which managerial decisions are made, to solve the problem of the multiattribute selection with uncertain attributes by means of uncertainty propagation.
Abstract: The managerial problem of the choice among alternative protective equipment used to prevent industrial (technological) accidents is considered. The choice takes into account potential failures of the equipment or, conversely, the equipment reliability. Such failures can substantiate contributors to escalations of industrial accidents. The problem of the choice is formulated in the form of a multi-attribute selection. The probability of failure of alternative equipment sets is used as an attribute of the selection problem. An estimation of this probability by means of Bayesian statistical theory is considered. Bayesian prior and posterior distributions are applied as an estimate of failure probability. These distributions are incorporated in the selection problem as uncertain attributes. Development of prior distributions of individual alternatives is discussed in detail. The prior and posterior distributions are treated as measures of the epistemic uncertainty (state-of-knowledge) related to unknown values of failure probabilities. The modelling of uncertainty related to the failure probability corresponds to the classical Bayesian approach to risk assessment. It is suggested to apply the uncertain failure probabilities to developing risk profile for each of the alternative equipments and to incorporate the risk profile to the multi-attribute decision making. The epistemic uncertainty in the failure probabilities and elements of risk profile is quantified by means of Bayesian statistical theory. It is shown that this uncertainty can be reduced by applying Bayesian updating procedure when new data on equipment failures is obtained. Probable cases of the application of this procedure are discussed. This discussion relates the acquisition of the new statistical evidence used for Bayesian updating to the moments, at which managerial decisions are made. It is suggested to solve the problem of the multiattribute selection with uncertain attributes by means of uncertainty propagation. This propagation is accomplished by means of Monte Carlo simulation. The epistemic uncertainty related to the attributes is transformed into a discrete distribution of epistemic uncertainty. Probability masses of this distribution express the chance of individual alternatives to be selected as the best one. The result of this selection will be the alternative with the largest epistemic weight. The potential field of the application of the proposed approach is the management of technological risks present in many industrial facilities and non-industrial installations (dwellings, offices, public places) which are subjected to the hazard of accidents. The approach proposed in the paper allows to make managerial decisions which take into account the reliability of protective equipment. In addition, this approach will allow to utilize data on equipment failures encountered in the past. Such data is usually scarce and expensive. The Bayesian framework is best suited for the application of such data.

Journal ArticleDOI
TL;DR: The purpose of the article is systemization and thorough description of the knowledge and information (found in a large number of sources) about the positioning concept, its position in the STP model, coherentdescription of the product positioning process steps as recommendations for successful product positioningprocess accomplishment.
Abstract: The article consists of fourteen parts, starting with the introduction where the novelty, the problem of the research, the object of the research, the purpose of the research and the research methods are described. The purpose of the article is systemization and thorough description of the knowledge and information (found in a large number of sources) about the positioning concept, its position in the STP model, coherent description of the product positioning process steps as recommendations for successful product positioning process accomplishment. It is obvious that to be successful a product must occupy an explicit, distinct, and proper place, in the minds of potential and existing consumers, relative to other rival products on the market. Product positioning is the tool to achieve the above mentioned result. The article analyses how the product should be positioned on the market.

Journal ArticleDOI
TL;DR: In this article, the main aim of the article is to analyse market demand forecast method selection criteria and apply them in developing Lithuanian furniture demand forecast, and the theoretical aspects of the market demand method selection criterion and their application in practice are discussed.
Abstract: The article deals with the theoretical aspects of the market demand method selection criteria and their application in practice. As the definition of market demand and conditions is related to the achievement of important general strategic decisions and consumers’ behaviour on the competitive market, the accurate identification of the market demand method selection criteria and their application can reduce decision indefiniteness. Hence, the main aim of the article is to analyse market demand forecast method selection criteria, and apply them in developing Lithuanian furniture demand forecast. The theoretical part of the article starts with the analysis of the forecast method reasoning and forecast method classification under various economic literature criteria. The analysis of the main forecast method groups disclosed that it was rather difficult to determine the advantage of any method in forecast estimation, whereas, always the risk of the wrong method selection remained. It was determined that usually unanimous authors’ opinion on the complex application of quantitative and qualitative forecast methods differed in two aspects: one group of researchers supported the priority of quantitative forecast methods by using qualitative forecast methods as an auxiliary or alternative means, while the other group of authors stated that equal application of both types of forecast methods guaranteed higher reliability and carried more information. Quite often any market demand forecast encounters the relevant forecast method selection problem. It should be noted that there are advantages and disadvantages of the forecast method selection in every case; therefore, the analysis and differentiation of the main forecast method selection criteria is expedient. The selection of the forecast method should be based on several criteria taking into account the applicability of the forecast method complexity, i.e., forecast accuracy level, period of time, the scope of initial data, forecast costs, and the level of result appropriateness and applicability. The article deals with the research related to the selection of the forecast method for the Lithuanian furniture industry to define the furniture demand forecast for 2007. The object of research is furniture sales on the national market that reflect the solvent part of the furniture demand. The comparison of the forecast accuracy assessment indicators that were estimated by using different forecast methods indicate that the lowest furniture sales forecast error values were achieved by applying exponential smoothing method where &=0.3: forecast error value (et = 77.19) demonstrated the smallest difference between furniture sales forecast and fact, mean absolute percentage error (MAPE = 8.29 proc.) indicated high forecast accuracy, and mean percentage error (MPE = 8.29 proc.) described small positive forecast deviation. In order to achieve the qualitative forecast assessment, forecast reliability intervals were calculated where criterion z = 1.960. The results allow to assume that furniture sales forecast for 2008 with 95 per cent probability can vary from LTL, 844.64 mio. to LTL, 1147.20 mio.

Journal ArticleDOI
TL;DR: In this paper, a calculation method for the assessment of the ergonomics of manual handling of loads is presented in the study of garment workers, for comparison in oldsters' care hospital, where the physical overload is rather high.
Abstract: New physical overload factors (as working in the compulsory position or monotonously, where the strain of muscles is one-sided) have appeared for workers with the growth of information technology and logistics. The monotonous work is also a psychological hazardous factor, so the influence of work methods on workers’ health might be multilateral. The work-world is changing, however the physical overload from lifting weights and manual material handling may not disappear in the near future, as the long supply chain necessary for globalized production means that goods are often produced in one country and consumed in another. A calculation method (MODEL) for the assessment of the ergonomics of manual handling of loads is presented in the study. The results of the use of the method are given in manufacturing, for comparison in oldsters’ care hospital, where the physical overload is rather high. Innovations have been introduced in the last years. Musculoskeletal disorders (MSDs) connected with monotonous work are medically examined for garment workers. In parallel, the questionnaire for assessment of mental strain of workers was used. There is no mental strain observed in garment workers, but it is rather high for medical personnel. The results show the possibilities to improve the work environment and workers’ health through ergonomic analysis of workplace, good workplace design, education of special trained occupational hygienists and through them the education of blue-collar workers, the use of robot manipulators and roller conveyors, the increase of management interest and acceptance of ergonomics, the build-up of a bridge between planning and production departments.

Journal ArticleDOI
TL;DR: In this article, the authors show that consumers usually care who is standing behind the brand -a well-known manufacturer, or retailer, whose store is being visited, or an anonymous producer.
Abstract: Consumers usually care who is standing behind the brand - a well-known manufacturer, or retailer, whose store ir being visited, or an anonymous producer.

Journal ArticleDOI
TL;DR: In this article, the authors analyzed models of forecasting of market demand and the general principles of these models formation in the context of competitive market and presented the principles of efficient forecasting of the market demand in competitive market.
Abstract: Models of forecasting of market demand are analysed in the article and the general principles of these models formation in the context of competitive market are presented. Due to fast changing market conditions, intensive competition and necessity to solve relevant business bearing problems the demand of forecasting information connected with general market demand has increased. Mean experience of market demand forecasting in dynamic competitive market determines inaccurate results of the analysis of market demand and invalid decisions connected with companies’ activity. So it is considered to be especially relevant to compare present structures of market demand forecasting, and on that ground to form the principles of efficient forecasting of market demand in competitive market. The article starts with the analysis of conceptions of market demand forecasting and forecast while elaborating the conceptions of forecasting and forecast concretely. Later the analysis of market demand models and their specificity in the context of competitive market is presented. The surveys show that while researching the models of forecasting of market demand different opinions arise: some theorists maintain that the forecast of market demand is a concurrent part of forecasting of demand for a company’s products, whereas the others are sure that the exact forecast of market demand is impossible without an assessment of macroenvironment (external environment) or economic forecasting. The models of market demand forecasting, which are described in economic literature, are often intermittent, the consistency of the performance of forecasting is not clear. They also analyze limited number (often depending on the forecasting purpose) of the factors, which influence the competitive aspects of market demand. Sometimes the forecasting of market demand is based only on the choice of forecasting method and the analysis of the use in a concrete situation. The final actions of forecasting and assessment of completed forecasts accuracy is not often supposed. This determines roughness of the models of market demand forecasting and limited practical use in competitive market. With the reference to surveys of the models of market demand forecasting and their elements found in academic literature and given assessment of them, the model of market demand forecasting is considered to be a manystaged arrangement and relation between parts (elements), which aim to predict and assess the market demand and the tendencies of its alternation in competitive market in future. Not only the aspects of use of forecasting method are important for efficient market demand forecasting in competitive market but also how market demand is affected by the factor of forecasting frame. Formation of market demand’s forecasts based only on potentials of mathematical statistical method does not often take into account the influence of qualitative factors of competitive market demand and economic characteristics of market model. In pursuance of efficient forecasting of market demand in competitive market, it is recommended to combine an assessment of market demand emphasizing factors of business macroenvironment and the frame of industrial market and forecasting, which is based on quantitative analysis of information; to include into forecasting model such factors as aims and goals, assessment of the frame of market forecasting, selection of the method of market demand forecasting and forecast of market demand making.

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TL;DR: This study presents three general learning styles and two main categories of Non-Duetero and Duetero learning, emphasizing their performance in new product development process, and demonstrates that learning is a critical component of such development.
Abstract: Today's companies are experiencing significant pressures from increased levels of competition, rapidly changing market requirements, higher rates of technical obsolescence, shorter product life-cycles and the heightened importance of meeting the needs of increasingly sophisticated customers. Many companies realize that in order to provide value and win customers they now need to quickly and accurately identify changing customer needs, develop more complex products to satisfy those needs, provide higher levels of customer support and service, and utilize the power of information technology to provide greater functionality and performance. Consequently, greater focus is being placed in having new product development frameworks that achieve an optimized balance of internal execution effectiveness, coupled with an ability to delight customers (Shepherd, Ahmed, 2000). Learning and accumulation of (new) knowledge in an organization always start with the individual. An individual’s personal knowledge has to be transformed into information that other members of the organization can use in their accumulation of knowledge in order to apply it to create (new) values for the organization. Learning and accumulation of new knowledge in an organization always require two transformation processes: one transformation process from data to information and another from information to (new) knowledge. This is so because only information, and not knowledge, can be shared and spread among the members of the organization. This paper emphasizes the importance of learning on new product development and demonstrates that learning is a critical component of such development. Learning in new product development process is cited as being vital in today’s competitive, uncertain and turbulent environments. In this study we present three general learning styles and two main categories of Non-Duetero and Duetero learning, emphasizing their performance in new product development process. It is also given a multi - dimensional learning framework in new product development which is best conceived with nine correlated but distinct elements: information acquisition, information dissemination, information implementation, unlearning, thinking, improvisation, intelligence, sense-making, and memory. Akgun, Lynn and Reilly (2002) affirm, that organizational learning is not just information acquisition or information implementation, it is a combination of many cognitive components. Because fierce market, customer needs and technological environments make learning a standard requirement for organizations competitiveness, they can be successful in their new products only if they learn more quickly than their competitors. The results of scientific literature analysis showed that Duetero learning is more: knowledgeable about the factors that drive successful and failed products; inclined to establish business goals and employ balanced measures when benchmarking new product development. All this suggests that organizational learning should be considered as a critical component in new product development.

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TL;DR: In this article, a strategic outsourcing plan must be done from the perspective that it will help to grow business instead of focusing only on cost cutting, leaving out from consideration long term business implications.
Abstract: Companies often treat outsourcing as de facto solution, without careful evaluation and understanding the true strategic rationals for pursuing it. Outsourcing brings in companies‘ business significant structural changes, which require a cohesive master plan, i.e. a strategic outsourcing plan. If a company starts outsourcing initiative, steps for success are: knowledge, planning, sourcing and execution. The success is primarily dependent on explicit planning and identification of all possible opportunities. Strategic outsourcing plan must be done from the perspective that it will help to grow business instead of focusing only on cost cutting, leaving out from consideration long term business implications. Company‘s business strategy should be aligned with outsourcing strategy and outsourcing strategy execution should stay in sync with near and long term business growth goals. The biggest mistake that companies are making when approaching an outsourcing solution is missing linkage to business strategy. Strategic Outsourcing Plan built without the context of business strategy can produce, at best, only tactical result and can take a company entirely to the wrong direction, allowing functions to be outsourced in ways that actually hurt the company. Before entering into an outsourcing engagement and before starting the plan, company should have certain processes to compare actual performance against plans. Concrete measurements, data history help to indicate processes weaknesses and opportunities for improvement, thus giving direct input to strategic outsourcing plan. Different duration business and outsourcing plans are defined as: long term, near term, short term and tactical. Each plan has its own business owners, activities to be performed, methods and tools to be used and documents created. Both strategic plans: business and outsourcing, should be performed in parallel in order to achieve maximum benefit.

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TL;DR: In this article, the authors summarized the results of theoretical and empirical studies in the sphere of project preparation and realization processes by focusing on the contribution of researchers, educators and staff of the Faculty ofEconomics and Management and Project ManagementCenter of Kaunas University of Technology to the development of this relevant sphere of management.
Abstract: The article summarizes the results of theoretical andempirical studies in the sphere of the project preparationand realization processes by focusing on the contributionof the researchers, educators and staff of the Faculty ofEconomics and Management and Project ManagementCenter of Kaunas University of Technology to the developmentof this relevant sphere of management. The articledistinguishes the following basic aspects:

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TL;DR: In this paper, the change of marketing solutions in the process of internationalisation of a company reveals that the formation of marketing strategy in international markets is an evolutionary process and decisions made during that process differ based on the stage of international development of the company.
Abstract: Analysis of the change of marketing solutions in the process of internationalisation of a company reveals that the formation of marketing strategy in international markets is an evolutionary process and decisions made during that process differ based on the stage of international development of the company. As activities evolve, companies encounter a critical choice: to standardize or to adapt strategic marketing solutions. The use of competitive advantages acquired during unique multinational operations is the main success factor when forming a marketing strategy in the global market. Until now most research claimed that in order for a company to be successful in foreign markets, it should evaluate its marketing solutions and experience and to choose one

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TL;DR: In this article, the authors present the tax system in Lithuania with respect to acceleration of the economic growth and formation of investment-friendly business environment for foreign investors, showing that the positive rearrangements of tax system have had a decisive influence to the fact that the rates of economic growth in Lithuania during 2004-2006 were higher than the rates in EU countries.
Abstract: The possibilities for business development depend in many cases on larger financial resources, which may be problematic to form from own sources, especially in developing countries. Therefore both economically developed countries and developing countries struggle actively for investment flows. As a rule, the most effective methods are employed in order to create an environment which is attractive for investments and for business development. One of the most important factors determining the attractiveness of business environment, is the level of tax burden or, more generally, tax policy. The opinions of politicians and researchers differ quite often: while the one part pays most attention to the income taxes of enterprises, the other part attach more importance to the level of capital or work taxes. Many people will, however, agree that any taxes at all contradict to the economic principles of business, and that they deform the economic relationships in the market. Therefore it is highly important to ensure that the boundary, where no stimuli are left to develop honest business and to increase the effectiveness of the activities, is not crossed while one determines the tax basis, tariffs and other conditions for assessment of income, work and capital. Many countries in the world have achieved better results with respect to the growth of economics by means of lowering the tax rates. Lithuanian experience with respect to the economic development after the restitution of Independence, has also confirmed the main regularities, related to tax system formation, identified by scholars who are researching tax systems, their effectiveness and tendencies of optimization in different countries. Before joining the EU, the Lithuanian government undertook major changes in the tax system of the country. Most attention was paid to the level of the assessment of enterprises’ income. As the results of budget formation have shown later, lowering of profit tax rates has led to positive results with respect to growth of economics. Inflow to the State budget increased due to profit taxes, while the level of shadow economics decreased. For the present being, projects for optimization of tax distribution are being carried out so that assessment of work may be reduced. The present article displays Lithuanian experience with respect to acceleration of the economic growth and formation of investment-friendly business environment for foreign investors. The positive rearrangements of the tax system have had a decisive influence to the fact that the rates of economic growth in Lithuania during 2004-2006 were higher than the rates of economic growth in EU countries.

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TL;DR: The main sources of early stage of venture projects are business angels (informal venture capital): high net worth individuals, senior managers from large companies, or serial entrepreneurs who invest (on their own or in groups) a small proportion of their own wealth in SMEs, and venture capital firms as discussed by the authors.
Abstract: Capital problems are the most important to solve for almost all entrepreneurs, especially for those involved in activity of high level of innovation. The main solution which led to getting a mature innovative firm is a venture capital involvement in form of business angels, venture capital funds or seed funds. A cradle of venture capital market activity is the United States of America, but also in better developed countries in Europe such activity is also flourishing, e.g. in the United Kingdom, France, Germany, Scandinavian countries. In other EU countries, especially new members, venture capital market has not as yet been developed, but it is still growing together with the increase of the level of innovation and entrepreneurial activities. Filling up the capital gap in the very start of innovative companies such institutions as incubators, business angels and various kinds of advisors have played a key role. The main, complementary to each other, sources of early stage of venture projects are business angels (informal venture capital): high net worth individuals, senior managers from large companies, or serial entrepreneurs, who invest (on their own or in groups) a small proportion of their own wealth in SMEs, and venture capital firms (formal venture capital): firms which manage fixed life venture capital funds of banks, pension funds and financial institutions, and other investors (wealthy families, corporations). Together with development of business angel market and enforcing their significance as a source of entrepreneurship financing on start-up stage, and overall economy growth, business angel market has gone under some transformations, like a globalization of business angel conception, growing number of successful projects, of mentality in approach to entrepreneurship, and closing relations between venture capital funds and business angels. Informal venture capital market of business angels in Europe is much less developed than institutional one. The biggest number of business angels in Europe acts in three countries: the United Kingdom, France and Germany. Along an increase of a number of business angels and expanding an area of their activity single business angels lave been associated with business angel networks. The number of such networks in Europe systematically rises. In a half of 2005 there were 228 networks with 12 773 business angels in EU. Activity of business angels in Poland has been developed in fact slowly, but lately there is noticed a growth of interest from either entrepreneurs or capital owners. Undoubtedly an increase of business angels and business angel network activities has been caused by Poland access to EU. After 6 months of 2007, according to the data of European Business Angels Network – EBAN, there have acted three business angel networks in Poland, such as:PolBAN. Lewiatan Business Angels, and SilBAN. Together with putting more impact on innovations and possibility of financing such activity from EU funds the networks of business angels have sprouted all over the country.

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TL;DR: In this article, the authors analyze and systemize quality certification, standardization, regulation tools that are used in the Lithuania and international trade, and present the providence of the more effective usage of them.
Abstract: This article analyses the quality certification, standardization, market and technical barriers to trade relations problems. Certification system and quality management tools development in Lithuania and international context are also analysed. It gives a study of the processes in place designed to normalise international standards, technical regulations and rules in the light of current global economic conditions. The models of Market, standardization and certification relations, Standardization space and typology and National quality certification system are presented in the article. The resultant generalisations and suggestions have been made based on the author‘s research of Lithuanian enterprises. Worldwide economic globalisation processes and the development of international trade have necessitated rapid quality internationalisation processes, as they are crucial in defining the quality of a product or company. These processes mean that more countries are keeping to unified standards and technical regulations, quality and environmental management systems, quality satisfaction evaluation and certification procedures. With their help, it is hoped that not only will the quality of goods and services be assured on an international scale, but that their implementation will lead to the elimination of technical barriers to trade. The main task of this article is to analyze and systemize quality certification, standardization, regulation tools that are used in the Lithuania and international trade, and to present the providence of the more effective usage of them. Technical barriers to international trade are becoming increasingly pervasive because there is a lot of variance in how these technical rules are applied in manufacturing and agriculture, where, in order to guarantee the production of pure and healthy food products, many countries have come up with especially strict and restrictive rules. Given the existing complicated and nonuniform rules, their systematisation is very difficult to achieve. The author suggests technical barriers to trade be divided into five groups. The certification system of Lithuania involves products, organizations and employees conformity assessment. Apart from “traditional” quality (ISO 9001) and environment (ISO 14001) management systems Lithuanian companies use other systems – ISO 22000, ISO/IEC 20000 GMP, ISO/IEC 17021:2006, ISO/TS 16949, ISO/IEC 27001, CMMI, BRC Global Standard, etc. Vehicle technical inspection and jewellery quality hallmarking performed by Lithuanian Assay Office are also a part of product certification activity. It must be highlighted that enterprises in Lithuania do not certify their products to the conformity of EU quality mark (Key Mark) requirements and not develop environmental management system EMAS yet. Nowadays quality management systems (QMS) are implemented no only in business enterprises, but also in hospitals, high education institutions, police departments, city municipalities and other public sector institutions of Lithuania. Although the amount of organizations that use quality management systems ISO 9001 is rising in Lithuania still there are some problems to be solved. However quantitative evaluation of noted indicator is not very informative. That is why the author uses the relative index – the number of ISO 9001 certificates per 1000 citizen for better comparison. According to this index in the number of QMS certificates Lithuania wins behind against the USA, China and India, however signally falls against other new European Union countries. To reach the EU average of this index, Lithuania has to have more than 2000 certificated QMS. Thus, business organizations and state governmental institutions have every reason for the concern. The author provides recommendations for the development of the effective QMS, to improve all certification system of country and introduce the providences of quality management science development.

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TL;DR: In this paper, the authors analyzed the development of personal and professional skills of managers who perform managing function in contemporary organizations, and proposed a holistic development process that is comprised of the following fields: defining personal, professional priority skills, selecting of employees and assessing of their possessed skills, choosing the best tool for the assessment; systematization of the skills to be developed; search for the possible development ways and methods; choosing the development method that corresponds the goals; providing managing activity to the trained employees; correcting the development process depending on specific situations; responding to the needs of the development
Abstract: The present article analyzes the development of personal and professional skills of managers who perform managing function in contemporary organizations. Research shows that it is necessary to develop managers‘ skills using a set of different methods and tools. In the course of time, a number of models for manager skills development that recommend the potential ways for the implementation of these processes have been created. One of these models is the training cycle proposed by Kolb (1992) encompassing four stages: actions, thinking, understanding, and checking. Another model – the one made by Byham, Smith, and Pease (2002) - is based on application of group training method. It is carried out in five stages: 1) formation of a group of employees, 2) defining training abilities of the employees, 3) making recommendations for the development, 4) implementing the program, 5) defining directions for new improvements. Probably, the most widely applied and used model is Statt‘s(2000) sequence of development processes: defining demand for development, formulating the goals, compiling the content, choosing the methods, evaluating the results. The most modern model is Whetten and Cameron‘s (2002) five-step model applying social science theory. It is based on the following steps: assessment of a skill, development of the skill, analysis of the skill, testing the skill in practice, using the skill in practical performance. The above listed models have their strengths and weaknesses. The most typical weakness is underestimated complexity and sophisticated character of the development process. Having made the analysis of the described models of managers‘ personal and professional skills development and having generalized the results of particular research carried out in Lithuanian organizations, it could be stated that the process of skills development needs to be improved. This process holistically combining possible 17 activities. On a basis of research results, the article offers a holistic development process that is comprised of the following fields: defining personal and professional priority skills of managers; selecting of employees and assessing of their possessed skills; choosing the best tool for the assessment; systematization of the skills to be developed; search for the possible development ways and methods; choosing the development method that corresponds the goals; providing managing activity to the trained employees; correcting the development process depending on specific situations; responding to the needs of the development; combining several development tools; applying of short-term development tools; choosing the most suitable development program; defining the role of direct supervisor in the development process; appointing mentors for the employees involved in self-development; career planning. Implementation of the holistic model of managers‘ skills development process showed that this attitude has positive impact on the results of this process. In order to survive in constantly changing society, people must learn a lot on their own; most often it is related to competence training seminars, re-qualification training, maintenance of professional competence level, development of personal and professional skills.

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TL;DR: In this article, the authors analyzed the attitudes of highly qualified specialists to emigrate from Lithuania to other countries and found that high competence of specialists and knowledge acquired in Lithuania can be easily transferred abroad and this is what encourages the respondents to leave the country.
Abstract: The concept of brain drain includes not only a physical emigration of highly qualified persons from one country to another but also a transfer from one department of an organization to another, as well as any other loss of skills and knowledge of one economic unit necessary for economic growth and development in favour of another economic unit. Brian drain occurs as a result of the factors of attraction and repulsion of migration of qualified specialists, scientists and students. Three levels of the reason for brain can be distinguished: individual, organization, and state. Brain drain occurs in all countries of the world with a varying extent and character. In the economically developed countries more attention is given to the problem of brain drain. It has become an object of interest and research in these countries much earlier than in the economies of transition. This can be proven by a more extensive and accurate statistics provided in different sources, as well as the abundance of different research. In Lithuania little analysis has been made on this phenomenon. It is difficult to determine the extent of brain drain from Lithuania due to the lack of statistical data and sociological research. The article underlines that the emigration of highly educated specialists from Lithuania may have negative economic, social, cultural and even political effects on the development of the country. Several social groups of Lithuania sensitive to the phenomenon of emigration have been listed in this article. It analyses the migration trends of business world, academic youth, scientists, as well as other highly qualified specialists and civil servants. It is stated in the article that the emigration of specialists from Lithuania is not massive, since the demand of qualified labour abroad is smaller than that of unqualified; however, high qualification and professional competence of workers from both public and private sector becomes a precondition of brain drain from Lithuania to other countries. The article provides the results of the research on the attitudes to migration by civil servants. The majority of the respondents who leave Lithuania are interested not only in the financial benefit; they associate their work abroad with the possibility to satisfy personal needs, first of all selfactualization, career, and professional development. The article maintains that high competence of specialists and knowledge acquired in Lithuania can be easily transferred abroad and this is what encourages the respondents to emigrate. Highly qualified specialists often find a job in their speciality and are satisfied with the evaluation of their work abroad. The analysis of the literature and the study into the migration of civil servants has given theoretical and empirical grounds to the above statement.

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TL;DR: In this paper, Vilpisauskas et al. analyzed the effect of knowledge spread on the growth and competitive ability of the state and concluded that the extent of support for knowledge spread is worth to be increased on the account of other support means.
Abstract: All over the World in evaluation of economic growth factors, knowledge is playing more and more important role. The supporters of the concept of knowledge-based economy (Burton–Jones, 1999; Romer, 1986; 1990) address knowledge as the resource necessary for the growth of competitive ability. Only the countries which applying up-to-date knowledge create innovative products or services, may expect higher price, and at the same time higher surplus value. Finally due to higher income received, higher taxes are paid, budged increases and larger opportunities for solving the problems of social isolation appear. Facing such a great benefit of knowledge the question arises whether the state should not support knowledge spread at the same time ensure further growth of competitive ability and welfare of the country. The opinions of scientists are different on this point. Krugman (1986, 1994, 1996) claims that the market perfectly solves questions, and intervention may only impair the mechanism of self-adjustment unfreezing noneffective structure of the market. Other scientists (Vilpisauskas, 2004; Soete, 2002) think that the state must bear the responsibility for assurance of knowledge spread. Talking exceptionally about agricultural support there are also some disagreements about the form of the support for farmers‘. In Lithuania farmers are rendered support in various forms: investment support, manufacture subsidies, support for knowledge spread, and others. Only one tendency of the support is analysed in this article, i.e., the support for knowledge dissemination. In the article the effect of knowledge spread on the growth and competitive ability of the state is emphasised. The attention is directed to the classification of research and due to this also to the possibilities of different knowledge spread. Usually knowledge is useful only while it is new, therefore it is subject to up-to-date scientific research. The competitive ability is most efficiently increased upon prompting basic research and knowledge spread obtained as the result of this research. Such promotion is indirect business promotion, since usually functions of basic research and knowledge spread are performed by scientific institutes. The article determines the effect of the support for knowledge spread on the profit of farmers‘. Due to the data of questionnaires it was determined, that farmers embracing the support for knowledge spread obtain better results. Still farmers, who do not find out anything new during the seminars, achieve similar results to those which are achieved by the farmers, who obtained knowledge in the seminars. Therefore it may be said, that the possibilities of farmer’s knowledge spread improvement is not completely used. In this case seminars should be differentiated according to levels, because in the future expansion of supply of free of charge seminars and trainings, increasingly larger number of farmers in sponsored seminars will not obtain any new knowledge. Knowledge promulgated in the seminars should be based only on basic research, in such a way a number of farmers, who find out nothing new in a seminar, would decrease. Knowledge is constantly getting old, besides learning is a continuous process. Therefore the demand of farmers for new knowledge should always remain provided the spread in the seminars and trainings is really new. Participation of the farmers in the seminars had some influence on sufficiency of their knowledge, since those, who did not lack knowledge about agricultural business, more often took part in the seminars compared to those, who lack knowledge about agricultural business. When facing the changes in technologies, knowledge demand should affect even those, who recently had enough knowledge in agricultural business. Thus, after the evaluation of research results, the assumption that the impact of knowledge spread on the results of farmers will remain, as well as the benefit of support for knowledge spread and farmers‘ profits, may be sustained. Therefore the extent of support for knowledge spread is worth to be increased on the account of other support means.

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TL;DR: In this paper, the authors presented a composite economic and behavior-oriented brand valuation model, which unifies economic, psychographic and behavior oriented brand valuation models, which unified both economic and psychographic factors.
Abstract: The article consists of five parts, where the first part formulates the problem, aim and research methodology. The aim of the article is to prepare integrated economic brand valuation model on theoretical layer analysis and summary of brand valuation models and to test it empirically. The article analyzes the problem how to prepare integrated brand valuation model which enables thorough estimation of brand value in viewpoint of customer and company. The second part of the article presents substantiation of brand valuation and theoretical studies of brand valuation models. Analyzing traditional economic brand valuation models the results of theoretical and empiric researches by authors who study these models are presented. In summary it could be stated that traditional economic brand valuation models estimate only material brand value form and ignore customer influence on brand value. Nonfiction literature presents psychographic and behaviorally oriented brand valuation models. Aaker (1991), Kapferer (1992), Keller (1993) and Mckinsey (1994) present brand valuation models where user, user attitude and behavior are in focus. This article presents composite economic and behaviorally oriented brand valuation models, which unite both economic and psychographic factors. Though composite economic and behaviorally-oriented models reflect brand valuation influencing factors more detailed, still more economic, financial and behaviorally-oriented factors integrating model are missing. After completing theoretical studies of brand valuation models it can be stated that some model only estimate material brand value (economic brand valuation models), others uncover customer attitudes and behavior in brand valuation (psychographical and behaviorally-oriented brand valuation models), and still others mostly estimate material brand value also taking into account customer behavior in the viewpoint of brand value. In the third part of the article on the ground of theoretical study of brand valuation model the integrated brand valuation model is prepared. This model unites economic, psychographic and behaviorally oriented brand valuation models. Integrated brand valuation model mostly measures brand value on the ground of economic brand valuation models. According to this model, brand value is measured from two positions: customer and company.