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About this book

This book gathers selected theoretical and empirical papers from the 28th Eurasia Business and Economics Society (EBES) Conference, held in Coventry, United Kingdom. Covering diverse areas of business and management in various geographic regions, it highlights the latest research on human resources, management and marketing, among other topics. It also includes related studies that address management and marketing aspects such as telecommuting versus the traditional work environment, the effect of value congruence, promoting product characteristics using social media, perception of terrorism risks, and personal innovativeness and employability.

Table of Contents

Frontmatter

Human Resources

Frontmatter

Brain Drain: A Threat or an Opportunity

Abstract
The willingness to move abroad (either for some time or for good) is influenced by a number of factors. The usual interest of researchers is to find which factors influence young people and make them go abroad. This study, on the contrary, aims to determine which obstacles (barriers) prevent them in their decisions to go abroad. The research sample was made up of students with an economic specialization who study at regional public universities in Germany and in the Czech Republic (n = 503). On the basis of stepwise forward logical regression, two barriers have been found in German students that prevent them from going abroad the most. They are the following: “I do not want to leave Germany” and “I do not want to leave the place where I live”. In Czech students, two barriers have also been identified. The first one is the language barrier, and the second one is the same as the German sample: “I do not want to leave the Czech Republic”. A strong relation to their home country awakens the hope that if they leave the country for the purpose of work, they will have a tendency to return in the future.
Alice Reissová, Jana Šimsová, Hana Suchánková

Personal Innovativeness and Employability: How Personal Traits Affect Employer Attractiveness

Abstract
Personal innovativeness has been conceptualized as a personality trait associated with an individual’s openness to take chances. Relevant literature describes this concept as a key determinant in the innovation and technology adoption process. Hence, innovative individuals are early adopters of innovation who are willing to take risks but who also demonstrate a higher level of self-efficacy and self-confidence in performing new tasks. The main aim of this study is to examine the relationship between personal innovativeness and employability of university graduates in three countries: Bosnia and Herzegovina, Croatia, and Serbia. A survey was conducted based on the methodology that uses domain-specific conceptualization of personal innovativeness in information technology (PIIT). The results of the study suggest that innovative graduates are employed faster than their university peers. Evidence drawn from the survey of university graduates also indicate challenges that education systems in all three countries face including a lack of skills-based education and its effects on students’ critical thinking, personal innovativeness, and employability skills. These findings raise very important questions about embedding employability into the higher education curriculum. Practical and theoretical implications of the study are presented and discussed.
Amila Pilav-Velic, Jasmina Selimovic, Hatidza Jahic

Management

Frontmatter

Telecommuting Versus Traditional Work Environment: Determinants of Job Satisfaction as Perceived by Individual Contributors and Supervisors

Abstract
The study delved into telecommuting and traditional work environment as determinants of job satisfaction as perceived by individual contributors and supervisors of a multinational manufacturing firm based in the USA. Specifically, the researchers intend to find out if there is a significant relationship between the respondents’ profile variables and the perception of the individual contributors and supervisors on telecommuting. Consequently, the paper established the relationship between job satisfaction and the traditional work environment and with telecommuting. The study employed quantitative-descriptive design by utilizing primary data through survey method. The study used the perception survey with three parts, namely, demographic profile, job satisfaction, and telecommuting survey. For the interpretation of data, frequency distribution, mean scores, percentage, and chi-square (tested at 0.05 level of significance) were used. The major results revealed that the respondents have better job satisfaction as they practice telecommuting and that they prefer this as an alternative work environment over the traditional office setup. In the light of the foregoing data, it is recommended that industries of today consider how technology can be of advantage not only for the machinery to improve its productivity and output but most importantly to enhance the employees’ welfare.
Melfi Masongsong Caranto, Rommel Pilapil Sergio, Melchor Zabala Oribiana

Effect of Values Congruence: Are There Any Reasons to Know Values of Different Generations Better?

Abstract
The aim of this research is, upon the comparison of values of different generations, to propose further hypotheses for the development of the concept of personal and organizational value congruence. Objectives of the research were set to analyze the meaning of value congruence for person and organization; to compare personal values of employees of different generations; and to present contact points of personal values of employees of different generations in order to achieve congruence of personal and organizational values. Based on the results of the theoretical research, hypotheses for future empirical research were raised: first, there may be more overlapping values between adjacent generations; second, although alongside with the increasing time gap between generations value congruence decreases, values named as basic, which are common to all three generations, remain; third, congruence exists between the values of different generations; therefore, fourth, basic values can be used for the development of congruence between values of employees of different generations and organizational values. The main conclusion of the research confirms that reducing the incongruence of values between employees of different generations and using the strongest potential inherent in the particular generation, more effective results of joint work can be achieved.
Jolita Vveinhardt, Povilas Foktas

Business Advisors and Small Businesses: Cooperation in the Framework of the Advisory Process

Abstract
Business advice is perceived as one of the tools that enable small businesses access to external knowledge. At the same time, the literature, focusing on the scope of the use of business advice and the assessment of its effects, shows to a limited extent the mechanisms associated with the implementation of the advisory process itself and its structure. The paper attempts to provide a detailed analysis of the advisory process, including its stages and the form in which business advice is provided. The main component of the analysis is the cooperation between the advisor and the small business manager in the framework of business advice provision. As a result, a classification of advisory relationships has been proposed, taking into account the existence of cooperation or the lack thereof in the framework of the two stages of the advisory process. Based on empirical analysis, the links between this classification and the factors related to the type of business advice and advisor as well as the kind of trust used at the initial advisory stage were indicated.
Paweł Głodek

Industrial Drivers of Co-opetition Among Organizations: A Sector-Based Research Within the Context of Population Ecology Approach

Abstract
“Co-opetition” is the term which defines a hybrid behavior comprising competition and cooperation concurrently. Co-opetition strategy extends the traditional rules of competition and collaboration strategies. In this paper, we aimed to explain the co-opetition relationship between rivals by using the assumptions of the population ecology approach. We have collected data from two industries having different levels of entrant and exiting rates to compare population-originated drivers of co-opetitive relationships. We have evaluated generally the effect of entering and exiting of rivals in the industry on co-opetition tendency of firms in both industries. To embody the assumptions of population ecology approach, we have used age, size, and niche width of organizations. By compassion two industries we found that there is no difference among industries for getting co-opetition against entering and exiting of rivals in the industry in general. Despite age and size of firms does not lead to difference among industries, niche width is important for the firms in construction sector for getting co-opetition.
Hasan Boztoprak, Nusret Erhan Mutlu, Murat Süslü, Yıldız Yılmaz Güzey

Pivoting Strategic Business Approaches in the Strategic Business Advice Process: Lessons Learned from Case Studies of Small Innovative Firms

Abstract
Strategic business advice is perceived as the way to meet challenges related to business development and strategic change, with direct impact on business growth and productivity. Small innovative firms can benefit from it, as they are constantly seeking for new solutions in order to provide better market offers and are willing to achieve higher rents than industry average. Thus, they need to transform their strategic business approaches, including implementation of new products and increasing business model efficiency. In the paper, the process of business advice is explored, and critical stages of this process are distinguished and explained. The model of strategic business advice process is built based on case studies analysis, in which a process of pivoting business strategies has been especially explored. Therefore, two case studies illustrating pivoting (A) strategic idea of the product and (B) strategic business model approach are presented. It is concluded that strategic business advice is a powerful tool when pivot in company’s strategic orientation is necessary, but several conditions have to be met for the change to happen.
Katarzyna Łobacz

Marketing

Frontmatter

Uncovering Social Media Users’ Emotions Towards Companies Using Semantic Web Technologies

Abstract
In the last few years, online social media networks have witnessed an amazing growth in their worldwide usage, with millions of users constantly publishing messages containing opinions on virtually any imaginable topic, including opinions about companies. Accurately understanding these opinions could provide an almost real-time overview of how the company and its actions are perceived by the general public. While existing approaches used for analyzing the opinions expressed in social media messages commonly limit themselves in discovering the polarity of the messages, expressed as a positive, negative, or neutral value, in the present paper, we use semantic web technologies and natural language processing in order to uncover actual feelings, such as happiness, surprise, or disappointment. The emotions are structured in a hierarchy using an ontology, thus offering the possibility to analyze the overall opinion regarding the company at different levels of granularity. The proposed approach is validated by performing an analysis of the public perception towards four well-known technology companies.
Livu-Adrian Cotfas, Camelia Delcea, Ionut Nica

Analysing Customers’ Opinions Towards Product Characteristics Using Social Media

Abstract
With the ever-increasing number of social media messages posted daily, millions of users express opinions on various subjects, including opinions concerning the characteristics of products and services that they have already bought or they intend to buy in the near future. Accurately knowing the opinions of such a large number of users in near real time would be invaluable for the companies marketing those products. Thus, in the present paper, we propose an approach based on Semantic Web technologies, natural language processing and machine learning for accurately analysing the social media messages posted on Twitter. Compared to existing approaches, which mainly focus on determining the opinion of the user concerning the entire product, the approach proposed in the present paper offers deeper insights, by taking into consideration the fact that a user might have different and sometimes even contradictory opinions concerning the various characteristics of a single product. We start by creating an ontology for representing the relationships between the products and their characteristics, ontology that is also used for performing named entity recognition, given the fact that various users can employ different terms for referring to the same concept. The ontology is afterwards used in order to filter from the huge number of tweets published every minute only the ones that can prove relevant for the analysis. In the next step, aspect-based sentiment analysis is employed in order to determine the sentiment expressed by the social media user regarding one or several characteristics of the analysed product. The results of the analysis are stored as semantically structured data, thus making it possible to fully exploit the possibilities offered by Semantic Web technologies, such as inference and accessing the vast knowledge in Linked Open Data, for further analysis.
Livu-Adrian Cotfas, Camelia Delcea, Ionut Nica

Millennial Travelers’ Perception of Terrorism Risks: Evidence from Poland and Slovakia

Abstract
The subject of the study paper is the risk perception and the decisions of Gen Y tourists regarding tourist destinations in the context of increased terrorist risk in the world. It is examined how Millennial travelers from Poland and Slovakia perceive the travel risk choosing tourist destinations in the context of terrorist risks. Both studied countries are recognized to belong to a region that has a low terrorism risk index. It is examined whether they are willing to forgo safety and security in exchange for economic advantage deciding to outbound travel. In addition it is checked whether sex, frequency of traveling, and travel expenses differentiate risk perception among Millennials. The research results showed that a large proportion of Millennials in this region of Europe are willing to accept tourist risks in the face of terrorism and agree to higher-value travel costs than safety. Gender and the level of travel expenses are factors that determine the perception of travel risk among Millennials, but the frequency of traveling does not.
Rafał Nagaj
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