rss_2.0Proceedings of the International Conference on Business Excellence FeedSciendo RSS Feed for Proceedings of the International Conference on Business Excellencehttps://sciendo.com/journal/PICBEhttps://www.sciendo.comProceedings of the International Conference on Business Excellence Feedhttps://sciendo-parsed.s3.eu-central-1.amazonaws.com/6472745e215d2f6c89dc873c/cover-image.jpghttps://sciendo.com/journal/PICBE140216Global Risks Related to Involuntary Migrationhttps://sciendo.com/article/10.2478/picbe-2024-0307<abstract> <title style='display:none'>Abstract</title> <p>The aim of the research is to analyse the topic of involuntary migration to identify relevant global risks that may be associated. The Global Risks Report 2024 place involuntary migration in top 10 risks over the next decade. Understanding how systems are interconnected is important for policy makers to choose the right strategy and to set investment priorities, including for the purpose of increasing resilience. To analyse the interference relationship between global risks associated with involuntary migration we proposed a new analytical tool “GRiNLoc-GpESTE (<italic>Global, Regional, National, Local - Geopolitical, Economic, Societal, Technological, Environmental</italic>).” The main factors leading to involuntary migration are related to internal or inter-state conflicts; natural disasters and extreme weather events, including the impact of climate change; man-made disasters; and lack of opportunities for economic advancement. Our analytical process highlighted that the phenomenon of involuntary migration needs to be addressed more carefully in the next decade from an interconnected perspective because of the risks associated with critical changes in the earth systems, lack of economic opportunities, illicit economic activity, and the cyber insecurity. Given that concurrent shocks, deeply interconnected risks, and eroding resilience can result in the development of polycrisis or cascading crises, we consider that addressing the risks associated with involuntary migration requires early identification of solutions to increase resilience at local, national, regional, and global levels, analysed from a cross-cutting perspective, interconnected with global risks. We appreciate that the strategic decision should be based on modern analytical techniques, including multirisk analysis.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03072024-10-06T00:00:00.000+00:00Measure of Network Effect on Social Media Platformshttps://sciendo.com/article/10.2478/picbe-2024-0306<abstract> <title style='display:none'>Abstract</title> <p>Social media platform dramatically changed the world in the last 2 decades. From limited communication possibilities, the individuals found themselves in the posture of connecting with others at only few clicks distance. Those platforms rely on large networks of people and their operators benefit from their effect. The paper examines how network effects impact the financial performance of social media organizations, analyses the strength of these effects on various platforms, and suggests a methodology for calculating the money generated by each user. This comprehensive method seeks to analyze the correlation between user base expansion and income production, providing valuable insights into the strategic importance of network effects in the digital economy.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03062024-10-03T00:00:00.000+00:00The Economic and Socio-Cultural Impact of the Beauty Industry in the European Unionhttps://sciendo.com/article/10.2478/picbe-2024-0304<abstract> <title style='display:none'>Abstract</title> <p>In recent years, the beauty industry has grown a lot and is now a big part of the economy in the European Union. This paper looks at how the beauty industry affects society and the economy. It talks about jobs, new ideas, consumer happiness, and economic growth. First, the paper gives an overview of the European beauty industry, including its size, structure, and main trends. Then, it discusses how the industry creates jobs, both directly and indirectly, in manufacturing, distribution, retail, and beauty services. The paper also talks about how the industry is good for innovation, such as developing new products, using technology, and making new marketing plans. Beyond the economy, it looks at how the beauty industry affects how people feel. It talks about how taking care of oneself can help people feel better about themselves and more confident. The paper also explores how the beauty industry influences culture and social norms, like fashion, beauty standards, and how people see beauty in society. Finally, the paper looks at the beauty industry’s contribution to the EU economy. It talks about how the industry helps with GDP, taxes, and investment from other countries. The paper also mentions how the industry supports new ideas, entrepreneurship, and economic growth in different regions</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03042024-09-26T00:00:00.000+00:00Digitalization trends and expectations in Ukraine from a European perspectivehttps://sciendo.com/article/10.2478/picbe-2024-0303<abstract> <title style='display:none'>Abstract</title> <p>This paper examines the comprehensive digital transformation initiatives undertaken by the Government of Ukraine between 2020 and 2025, focusing on policy frameworks, infrastructure development, and strategic planning in various sectors. Through legislative measures and infrastructure projects, Ukraine has positioned itself as a leader in digital innovation, with a particular emphasis on artificial intelligence (AI) integration. The adoption of AI technologies across education, economics, cybersecurity, defense, public administration, and legal regulation demonstrates a concerted effort to modernize and optimize key aspects of governance and economic activity. Furthermore, Ukraine’s collaboration with European institutions and participation in initiatives such as the European Open Science Cloud (EOSC) and the Digital Europe program highlight its commitment to aligning with European standards and fostering international cooperation. The paper also discusses the role of international support, particularly from the European Union and USAID, in bolstering Ukraine’s digital resilience and innovation ecosystem. Through strategic partnerships and domestic initiatives, Ukraine aims to harness the potential of digital technologies for economic growth, societal advancement, and resilience against emerging threats.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03032024-09-26T00:00:00.000+00:00Navigating Risk: Strategies for Managing High-Risk Clients in the Insurance Industryhttps://sciendo.com/article/10.2478/picbe-2024-0305<abstract> <title style='display:none'>Abstract</title> <p>The insurance sector’s long-term success depends heavily on effective risk assessment and management. This study explores the complexities of risk profiling within the insurance industry, focusing on identifying and managing high-risk clients. By examining various methodologies and factors influencing risk, this research highlights the challenges in evaluating high-risk clients and proposes strategies for effective risk management. Accurate risk profiling is essential for insurers and policyholders, aiming to enhance resilience and stability within insurance operations.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03052024-09-26T00:00:00.000+00:00Improving the activity of the Romanian customs authority with immediate effects on combating fiscal and customs misdemeanorshttps://sciendo.com/article/10.2478/picbe-2024-0302<abstract> <title style='display:none'>Abstract</title> <p>The Romanian Customs Authority (AVR) is a structure that contributes to the health of society and the development of the economy. The main activity refers to the control of the flow of goods and people in and out of the respective country. To make the AVR activity more efficient, it is necessary to carry out a quality assessment of its functioning and activity using the legislation, the European regulations and the norms in force. This research uses qualitative evaluation and empirical experience to develop proposals for improving acuity. Among the main activities imposed are the establishment of two directions, the Customs Administration Direction, and the Operational Customs Control Direction. The limitations of this research refer to the fact that the entire evaluation was carried out at the level of Romania. The research can be extended to other countries of the European Union.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03022024-09-07T00:00:00.000+00:00Retractionhttps://sciendo.com/article/10.2478/picbe-2024-0301ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03012024-08-29T00:00:00.000+00:00Digital Frontiers: Assessing the Influence and Ethical Challenges of AI in Online Marketinghttps://sciendo.com/article/10.2478/picbe-2024-0300<abstract> <title style='display:none'>Abstract</title> <p>In the current digital age, online marketing is a key factor in the success of companies, influencing the relationships among businesses. Artificial intelligence (AI) is leading the way in this evolution, fundamentally changing the tactics and structure of online marketing. This paper examines the major effects and ethical concerns related to incorporating AI in online marketing strategies. Starting with a summary of AI’s development and its crucial position in present-day marketing, the research emphasizes its revolutionary functions such as making decisions based on data, providing customized user experiences, and automating processes. By developing AI algorithms, marketers can analyse bigger datasets, determine patterns, and predict trends, introducing the world into a new era of marketing innovation. A central focus of AI in online marketing is its ability to deliver highly personalized experiences to consumers, driven by the analysis of users’ behaviour, preferences and historical data. This personalized approach improves user engagement and drives conversion rates. AI also empowers marketers with real-time data processing and analysis, offering valuable insights into consumer behaviour, market trends, and campaign performance. Of course, besides its transformative potential, the integration of AI in online marketing presents significant ethical considerations. Issues such as data privacy, algorithmic tendency, and transparency necessitate careful consideration to ensure responsible and ethical AI usage in marketing practices. Going through a comprehensive exploration of AI’s impact and ethical implications in online marketing, this paper aims to provide valuable insights into the evolving landscape of digital marketing and the ethical considerations essential for navigating this dynamic zone.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-03002024-08-12T00:00:00.000+00:00The spillover effect between central and eastern European financial marketshttps://sciendo.com/article/10.2478/picbe-2024-0297<abstract> <title style='display:none'>Abstract</title> <p>This paper investigates the return and volatility spillovers between EUR/RON, EUR/HUF and EUR/PLN exchange rates and S&amp;P500 index, but also the spillover effect between the capital markets of these three countries and this index, using the methodologies of (Diebold &amp; Yılmaz, 2012). The paper provides both a brief description of several scientific researches conducted by numerous authors in the field of literature, and a series of empirical and econometric results that support theoretical demonstrations. The main results highlight that the spread of volatilities (spillover) intensifies during periods of economic crisis, and the main transmitter of spillover on the foreign exchange market, both in terms of returns and volatilities, is the stock market index S&amp;P500. This paper contributes to the field of spillover studies by analyzing the connection between Romanian currency and the geographic countries neighbors.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02972024-08-12T00:00:00.000+00:00Exploring the Impact of Digital Platforms on Publishing: A Bibliometric Analysishttps://sciendo.com/article/10.2478/picbe-2024-0299<abstract> <title style='display:none'>Abstract</title> <p>Platformization is a phenomenon arising from the process of digitalization and affects businesses of all types throughout the world. While platformization closely relates to digital business models, it also influences the traditional models to some extent, concerning the marketing and distribution functions. This paper focuses on the implications of the new media on the generation, dissemination, and reception of content in publishing. Specifically, the study examines the effects and implications of the platformization processes, and the role played by digital ecosystems in the value chain of the publishing business and the structures of the book market. For the current study, the research carries out a network analysis of scholarly literature on the integration of digital platforms in publishing using VOSviewer. It declared to provide an understanding of the field’s conceptual directions, determine key articles, and depict the developmental process of this phenomenon. The paper contributes to the understanding of the primary discourses; the literature review reveals the research gaps and potential development. The contribution of this research shall be useful for both theorists and practitioners in the field. It can help practitioners analyze the current processes in the publishing industry’s transition to digital formats and inform policy decisions. It can also help small and medium companies within creative industries that possess characteristics that are akin to publishing and other businesses clustered within the book market niche category. Given that current trends and potential directions for development and innovation in today’s rapidly developing digital environment are traced and practical recommendations and further research questions are outlined in this study, it helps to get a detailed understanding of how platformization in the context of the publishing industry is addressed in the academic literature.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02992024-08-12T00:00:00.000+00:00The Shifting Landscape: A Holistic View of Migration in Poland, Hungary, and Romaniahttps://sciendo.com/article/10.2478/picbe-2024-0298<abstract> <title style='display:none'>Abstract</title> <p>This comprehensive study delves into the multifaceted dynamics of migration in Eastern Europe, focusing on Poland, Hungary, and Romania. The analysis covers various dimensions, including economic growth, social impacts, and the nuanced interplay between migration and regional development. The paper highlights the diverse experiences of these countries, emphasizing the need for tailored and context-specific policies to address challenges and maximize opportunities. With a keen eye on repatriation trends, the study underscores the pivotal role of inclusive policies and socio-economic frameworks in shaping a sustainable and dynamic future for Eastern Europe. By recognizing migration as a catalyst for both source and destination countries, the research contributes to a deeper understanding of its implications on the socioeconomic dynamics of the region. The conclusions drawn emphasize the importance of embracing diversity, fostering inclusive growth, and promoting social cohesion to cultivate a prosperous and resilient Eastern European landscape.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02982024-08-12T00:00:00.000+00:00Globalization and the global trending dimensions of the labor market in a challenging context: Aspects and insightshttps://sciendo.com/article/10.2478/picbe-2024-0296<abstract> <title style='display:none'>Abstract</title> <p>This paper presents, describes and analyzes globalization and the global trending dimensions of the labor market and business in a challenging context. The research method started with an initial literature review then it focused on data analysis, interpretation and description, the research focus as well on creating frameworks illustrated in the part of analysis to analyze and illustrate some results and ideas. The research question is “how could globalization lead the labor market to a challenging context with and within the global trending dimensions? The results showed that globalization structured the labor market and economies and extended their global dimensions by facing facts such as skills, inflation, trade options, different economic sectors and societies, wage effects and even immigration. However, it always faces the question of employment and unemployment that affect the economy and the global society since it divided the world between developed and developing economies. In conclusion, globalization has led the labor market to a challenging context with global trending dimensions, negotiations and political adjustments are important to balance social and economic needs in order to avoid a global crisis, the labor market and its trends are important for both economic and social development.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02962024-08-05T00:00:00.000+00:00Quality, Performance, Excellence: The Harmonious Organizational Triadhttps://sciendo.com/article/10.2478/picbe-2024-0295<abstract> <title style='display:none'>Abstract</title> <p>The main purpose of this paper is to introduce a conceptual model of the triad Quality - Performance - Excellence (QPE); call it the Harmonious Organizational Triad. The method is qualitative, based on literature survey (secondary research), analyzing the interdependencies between these pairs of concepts (quality-performance, quality-excellence, and performance-excellence) within organizations. In this regard, an analysis of the existing literature on the concepts of quality, performance and excellence was carried out, highlighting relevant theories, models, and approaches to studying these concepts. Several studies exploring the interactions between quality and performance, quality and excellence, and performance and excellence were identified. The objective was to identify how each two concepts (i.e., quality and performance; quality and excellence; performance and excellence) are interconnected in an organizational context. Based on the literature analysis and the relationships identified between the concepts, a conceptual triadic model (QPE Triad) was developed. The QPE Triad illustrates the connections between the three concepts and their interdependencies. The implications are important for both scholars and practitioners – managers of organizations active in various industries – either goods manufacturing or service providers.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02952024-07-22T00:00:00.000+00:00Unleashing the potential: harnessing generative artificial intelligence for empowering model traininghttps://sciendo.com/article/10.2478/picbe-2024-0294<abstract> <title style='display:none'>Abstract</title> <p>Recent strides in generative artificial intelligence, particularly large language models, have been propelled by foundation models – learning algorithms trained on extensive and diverse datasets encompassing various subjects. This technology, inspired by the complexity of the human brain, unveils a new frontier in generative Artificial Intelligence (AI), showing its potential in creativity by generating innovative content based on absorbed data and user prompts. It is forecasted that the conversational AI and virtual assistant segment is experiencing the highest growth rate within the contact center industry, projected to fuel a 24% increase in the market during 2024. In spite of all remarkable performances, the incipient stage of generative AI calls for a careful consideration, as technological and ethical challenges demand attention and awareness. This research delves into the base principle which empowers users to build personalized chatbots trained on your data. This stand-alone footprint can further exemplify the transformative potential of generative artificial intelligence, extending its reach beyond professionals to individuals and tremendously remodeling the landscape of chatbots.</p> <p>Text generation lies at the intersection of computational linguistics and artificial intelligence, forming a specialized area within natural language processing. It implies a thorough procedure where a model is trained to be able to recognize and interpret the context of specific input data, subsequently generating text that pertains to the input’s subject matter.</p> <p>We have identified gap areas that require in-depth research. For instance, a broader number of papers relies solely on architecture optimization, performance comparison or application-specific studies. Therefore, this paper gives a bird’s eye view of the effective algorithm flow of a traditional generative model, using Long Short-Term Memory networks – part of the recurrent neural networks part family. The purpose of the current study focuses to enrich the existing body of knowledge on how a response generation-based model operates, therefore paving the way for chatbots development and deployment.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02942024-07-22T00:00:00.000+00:00The Impact of Non-Reimbursable European Funds in Romania on Gross Domestic Producthttps://sciendo.com/article/10.2478/picbe-2024-0293<abstract> <title style='display:none'>Abstract</title> <p>The paper represents an analysis of the access to non-reimbursable European funds in Romania, at the level of January 2024. The analysis is carried out at the territorial level, in all 41 counties in Romania, to which the Municipality of Bucharest is added. In order to determine the efficiency of the use of these funds, a correlation was made between the level of the Gross Domestic Product (GDP), as the main macroeconomic aggregate that measures the level of development and the value of the non-reimbursable European funds accessed by Romania in January 2024. The correlation shows a direct and strong link between the two variables, at each county level.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02932024-07-22T00:00:00.000+00:00Cultural Agility in the Age of Disruptionhttps://sciendo.com/article/10.2478/picbe-2024-0251<abstract> <title style='display:none'>Abstract</title> <p>The aim of this paper is to propose a holistic conceptual framework focusing on cultural agility, intercultural competence and how they activate within the complex dynamics of disruptive business environments in order to enhance companies’ ability to operate in international markets and to respond to the challenges posed by a rapidly changing landscape impacted by fast technological advancements, Artificial Intelligence, global trends or major geopolitical shifts. Our research methods included a critical screening of relevant literature, journals, books, articles, reports, statistics, internet researches, that represented the theoretical part of this study. Based on this theoretical foundation, interpreting our findings, a holistic conceptual framework is proposed. This framework illustrates a process constituted by 4 stages strongly connected with the concepts of organizational culture and strategy. It highlights the vital importance of cultural knowledge, behaviour, feedback &amp; assessment, improvement &amp; learning within organizations facing disruptive challenges. This paper is part of a larger project on the importance of intercultural competences in multinationals and offers future research opportunities.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02512024-07-03T00:00:00.000+00:00The Economic Profitability of Garlic Cultivation through the Application of the ”De Minimis” Aid Scheme, Estimates for the Year 2024 in Romaniahttps://sciendo.com/article/10.2478/picbe-2024-0128<abstract> <title style='display:none'>Abstract</title> <p>The culture of Romanian garlic has a high potential from an economic point of view, being in great demand on the market, Romanians preferring its taste and aroma. However, ..garlic cultivation does not have an easy technology and the Romanian seed is hard to find, so many of the producers are discouraged and prefer to cultivate other, safer crops. Massive imports of garlic led to measures from the state. Underscoring the importance of garlic cultivation for the Romanian economy, the state met agricultural producers with a “de minimis” support to support garlic production. The present paper, in order to contribute to making the necessary decisions for the future production cycle as well as to support farmers who want to cultivate this crop, analyzes the economic efficiency with the help of profitability indicators (profit, profitability rates, breackeven point, etc.), for two possible situations: with financial support granted through the Garlic Production Support Program and without taking into account this “de minimis” support. In this context, it is aimed to evaluate the economic viability in terms of the use of the production framework technology of garlic culture and the rational use of both the raw materials used and the human and financial resources to produce garlic of high quality but at low costs. Agricultural activities are always determined by the profitability of the crop. The findings of the study can have a positive impact on farmers, allowing them to adjust their material resources and current farm capacities for higher productivity, while highlighting the importance of implementing the garlic crop support program.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-01282024-07-03T00:00:00.000+00:00Small Modular Reactors in Romania’s Energy Future. Two Essential Perspectives: Capital Costs and Public Perceptionhttps://sciendo.com/article/10.2478/picbe-2024-0148<abstract> <title style='display:none'>Abstract</title> <p>In 2023, during the annual United Nations Conference on Climate Change (COP28), Romania joined the Net Zero Nuclear Initiative and the Ministerial Declaration for the tripling of nuclear capacity by 2050, which recognizes the key role of nuclear energy in achieving net zero goals worldwide. In this context, wanted to implement national projects and strategies to achieve the global goal of tripling nuclear power generation capacity by 2050 (taking 2030 as a reference) and to act to ensure that nuclear power plants are operated in security conditions. This paper examines the potential of Small Modular Reactors (SMRs) in Romania's energy landscape, considering the country's recent commitment to the Net Zero Nuclear Initiative and the goal of tripling nuclear capacity by 2050. The focus is on integrating new nuclear technologies, particularly SMRs, and modernizing existing facilities like the Cernavodă Power Plant. The study also explores the economic benefits, public perception challenges, and the role of European and American expertise in advancing SMR technology. For the first time, using specialized literature and data from public sources, the study aims to analyze the prospects for SMR projects developed in Romania to overcome two essential perspectives: capital costs and public perception in many communities where concerns related to nuclear safety, radioactive waste management, and potential risks associated with nuclear technologies exist.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-01482024-07-03T00:00:00.000+00:00Model Prediction XGBoost for Perspective of Closing Cernavoda Reactor 1 and the Impact on the Romanian Energy Systemhttps://sciendo.com/article/10.2478/picbe-2024-0238<abstract> <title style='display:none'>Abstract</title> <p>Employing artificial intelligence (AI) and machine learning (ML) technologies to analyze the progression of energy markets is imperative, as these methodologies facilitate the modeling of diverse domain-specific data to forecast developments in an exceedingly volatile market. Utilizing machine learning algorithms to model data concerning the Romanian energy sector proves beneficial, particularly in circumstances where significant changes necessitate adaptation to internal consumption demands, while mitigating substantial fluctuations in electricity prices. Such fluctuations can profoundly impact crucial national economic indicators.. In this paper, we aim to simulate such a situation for the moment when Romania will be obliged to shut down and modernize Reactor 1 at Cernavodă due to reaching the standard operating time for the CANDU model. We will use an XGBoost for Regression algorithm in which we will input data about the national energy system (consumption, energy quantities according to the energy system's production structure by resource types) from the period 2020-2023, and then we will simulate the shutdown of the reactor to analyze how the national energy market is influenced. Our findings not only reveal the indispensable role of predictive analysis through ML/AI models in anticipating market changes, but also provide practical insights for decision-makers aiming to optimize the national energy system so that when Reactor 1 at Cernavodă is shut down, the domestic market is affected as little as possible, considering that this reactor has supplied the national system with approximately 700 MWe/h over the past 20 years.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-02382024-07-03T00:00:00.000+00:00Improving the Performance of Corporate Employees through the Use of Artificial Intelligence: The Case of Copilot Applicationhttps://sciendo.com/article/10.2478/picbe-2024-0153<abstract> <title style='display:none'>Abstract</title> <p>In today's dynamic business landscape, the use of artificial intelligence becomes an important factor for companies to succeed. This research aims to see how Copilot application can help employees in their work environment. Microsoft Copilot application being an artificial intelligent tool which aims to be a teammate for each employee. There is a lot of research on how artificial intelligence can help users succeed in their work environment but there was still more to learn about how Copilot could help more specifically. Therefore, in order to find out more, we have used a survey and an interview in this scope. The survey was spread to 30 IT professionals and the interview was held with a support engineer to see how well Copilot worked for him. In the survey we looked at how Copilot could help people work faster, make better decisions, be more productive, and be happier at work. Whereas in the interview we looked at how useful Microsoft Copilot was in day to day activities in the workplace. For those interested to learn more about how Microsoft Copilot is changing the way we work, and how the Microsoft Copilot tool could help companies be more efficient, then the insights from this research provide an excellent foundation.</p> </abstract>ARTICLEtruehttps://sciendo.com/article/10.2478/picbe-2024-01532024-07-03T00:00:00.000+00:00en-us-1