The article tackles the question of the ever growing importance of soft factors of production in the process of competitive advantage for contemporary enterprises. This condition has resulted of turbulent environment characterized by increasing competition, generalized uncertainty and...

The complexity and dynamic changes of external conditions necessary for enterprises to function and increased competition in the local and global markets impose constant search for the most effective business model for the development of organizations. Its accurate identification and measurement...

In the literature, there is a discussion on the importance of the spatial distans to the user in the context innovation activity. Although, most of this kind of studies concentrate on exporting enterprises and compare them to domestic ones. Exporting activity is very important for catching-up...

In this article, the idea of financial cycles will be explained as well as its impact on economy. Price bubble and financial accelerator play key role in financial cycle. If there exist disparities in finance markets and they are not stabilized, the future crisis may be more severe. The role of...

The purpose of this article is to present a model of knowledge-based economy in relation to the OECD or Organization for Economic Cooperation and Development. The work will be explained the difference between economic growth and economic development. This article aims is to show how the use of...

The role of institutions in the social and economic development is widely recognized in recent literature on economics of institutions. Economic history provides many examples of bad and good institutional structures, environments, and ways of organizing the social life and relationships between...

The concept of social system of production is one of the research perspectives by which the institutional arrangements of modern market economies are being analyzed. On this basis considerations can be made on distinctive arrangements in given countries, in line with the thesis of Variety of...

The concept of a social system of production (SSP) is one of the cognitive perspectives by which the institutional arrangements of modern market economies could be analysed. It allows reflections on the autonomy of institutional arrangements in each country, in line with the assumption put by...

The purpose of this paper is to explore the implementation of a performance management system using the balanced scorecard (BSC) within Romanian small and medium sized enterprises (SME). This is a casebased methodological approach. This ensured that the issues were appraised in both an...

In recent years have been recording the number of sectorial clusters of firms and their links with a research and academic sphere unprecedented prosperity in the Czech Republic. The trend and popularity of clusters in regions are considered as an important source of competitive advantage of...