Číslo 37, ročník XV

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Changes in the Strategic Internal Control of Companies under Crisis Pressure
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2021-06) Lyudmila Mihaylova, Emil Papazov
Purpose of the article: The article aims at presenting and analysing key changes in the strategic internal control of companies under the pressure of crisis phenomena. The research question is how to adapt the strategic internal control to an evolving crisis through inclusion of control environmental sustainability measures, and strategic model adaptation. Methodology: A qualitative approach has been applied along with the research of larger companies from the brewery sector and small-and medium sized enterprises from the knitted fabrics manufacturing sector in Bulgaria. The study has also taken into consideration some companies’ strategic documents, as well as interviews with companies’ managers. The gathered information has been systematized, compared and evaluated with the help of the “Relative (Competitive) Advantage Matrix” model. Scientific aim: Understanding the impact of changes in strategic internal control on management under the pressure of crisis phenomena. Findings: The analysing of the quasi-control environment and competitive advantages is an important strategic management issue during crises. Competitive advantages derive mainly from the characteristics of the product (or service) that make it better than the products (or services) of competitors and they are associated with changes in the strategic internal control of companies under the pressure of hard times. Conclusions: Strategic internal control has to be adapted to the crisis situation through control environmental sustainability measures, strategic model adaptation and selected competitive advantages. Business processes are changing as a result of crisis times, then the control environment, risk assessments and competitive advantages need to be more detailed and analysed in different aspects. At the same time, the strategic internal control in hard times faces unexpected results, such as a drastic reduction in the incomes, a decrease in retail sales or a drastic increase in online sales. Using the collected information, comparisons can be made to better outline similarities and differences that will point out ways for improvement. This information should be brought to the attention of the personnel of the companies. The change in the activities should not be delayed in time, since information quickly becomes out-dated.
Post-Earning Announcement Drift and Value-Glamour Anomalies in NSE Listed Firms
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2021-06) Pankaj Kumar Gupta, Devendra Kumar Dhusia
Purpose of the article: Of the various market anomalies, the Value-Glamour anomaly and Post-Earnings Announcement Drifts (PEAD) have consistently attracted the attention of researchers. Prior studies have established that the reaction of value stocks and glamour stocks to the earnings announcement differs significantly and there is a close relationship between the PEAD and abnormal returns arising due to earning announcement surprises. We have studied the drift patterns of various value and glamour portfolios and tested whether the direction of the earnings announcement abnormal return is opposite to that of earnings surprise in the Indian market. Methodology: We use the statistics of 100 firms listed on the NSE for a sample period of 2014–2018. We use a set of 1130 observations analysed using the expectations formation approach around earnings and evaluate the post earnings announcement drift. We use the Earnings Response Coefficients to find the association between abnormal stock returns and earnings surprises. Scientific aim: The aim of this research is to improve the knowledge of market anomalies in developing markets such as India focusing on the impact of earnings announcement on growth and value stocks. Findings: We find that a negative association of abnormal stock returns with surprise in accounting earnings announcements. The stocks, which are overvalued or undervalued, are properly priced after the earnings announcements. Our results refute the earlier studies evidencing the strong support in favour of market inefficiency in the Indian context, particularly with respect to publicly available earnings information. Conclusions: The Indian stock market tends to be efficient with respect to earnings announcements and therefore does not produce excessive returns. However, a heterogeneity with respect to earnings announcement may exist among the category of stocks depending upon liquidity position. Superior returns cannot be derived by traders and investors on a consistent basis from value-glamour anomaly.
Operative Production Controlling as Entrance into Controlling 4.0
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2021-06) Marcel Rolf Pfeifer
Purpose of the article: The paper focuses on the potentials and benefits controlling provides for companies in the transition period towards industry 4.0. Operative production controlling provides data that shall be used in the future to apply the concept of smart factories. This article proposes a controlling archtitecture based on computer-aided standardization. Methodology/methods: The paper develops an architecture on operational production controlling based on an international literature review. Literature on controlling 4.0 are found mostly in publications in German language. While this literature has its focus on controlling as a whole or on strategic controlling, the paper has a look on operational controlling and its further usage and development towards smart factories. Scientific aim: The aim of this article is to develop a model of an operational production controlling architecture that is able to suite the requirements of smart factories by using computer-aided standarization. Findings: Research is working on concepts for industry 4.0 and its way towards real implementation. Competitive advantage in industry 4.0 is created through digitization and robotization. An architecture that fully complies to industry 4.0 is still waiting in real companies due to technical limitation in data storing, retrieval and processing as well as storage capacities. Conclusions: The paper discussed the devlopment of a controlling architecture suitable for industry 4.0. Already today controlling is making use of data. Smart factories shall make use of production data. Production controlling together with the CAS, that is able to provide standardized data on all manufacturing, maintenance, and auxiliary processes, systems are able to make a step forward towards smart factories. The concept of production controlling combined with the strengths of a CAS may be seen as the basis from which to target smart factories and industry 4.0.
Gender Equality and Sustainable Development in Nigeria: Issues and Challenges
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2021-06) Dupe Adesubomi Abolade
Purpose of the article: The objective of this study was to examine issues and challenges of gender equality in Nigeria in relation to the achievement of the desired sustainable development in the nation. Methodology: The study adopted survey research design. One hundred and sixty females were randomly selected from the State Secretariat, Ibadan as a sample population for the study. A set of self-structured questionnaire which had four sections were used as instrument for data collection. One hundred and forty properly filled questionnaire were analysed. Three hypotheses were generated and tested. Scientific aim: The study examined these three factors: socio-cultural factors, workplace discrimination and women participation in political activities in Nigeria to find out if there is equality between male and female genders in Nigeria that could translate to sustainable development in the nation. Findings: The study establishes that there is no equality between the genders; that women are discriminated against and they still play the second fiddle and that the inequality hinders the coveted sustainable development in the nation. Conclusion: It therefore recommends that the government and its agencies and employers of the workforce have the political will to include the female gender in the scheme of things and put them on the same level as their male counterparts for the achievement of development in the nation that will indeed be sustainable.
Customer Experience Management: Underexplored Instrument for Customer Transformation
(Vysoké učení technické v Brně, Fakulta podnikatelská, 2021-06) David Havíř
Purpose of the article: The purpose of this article is to identify the role the customer experience plays in the transformation of the customer and to develop a theory that brings together related concepts in order to position the phenomenon of customer experience in the macromarketing context. Methodology/methods: The grounded theory development approach is based upon the sequential search and content analysis of the research papers acquired primarily from Scopus and Web of Science databases and by the process of citation chaining. Scientific aim: The aim of this article is to identify customer experience related concepts and relationships between them to lay the foundation for empirical research in the area of customer experience and transformation management. Findings: The research points out to the significant role of the customer experience in the transformation of the customer and therefore to the necessity to approach marketing initiatives to customer experience management thoroughly to achieve the desired marketing results, but also responsibly and ethically to promote growth not the degradation of the society. Conclusions: The cycle of the customer transformation as outlined through the conceptual model contains weak spots which can provide free space for negative effects of the company’s outputs on the customer. The trend of digitisation and digital products can significantly amplify this possibility and increase the overall negative effect. From another standpoint, several problematic spots can cause difficulties for companies intentionally trying to transform the customer through their outputs, namely intent-result gap, reality-perception gap, single-part gap, and experience-memory gap. Scientific research in this area might support the effectiveness of marketing initiatives, increase transparency in the field of customer experience and transformation, and lead to increased customers’ well-being, long-term happiness, life satisfaction, and quality of life.

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