Smart Solutions for a Sustainable Future

In today's digital era, Cloud ERP, with its sophisticated features and adaptability, stands as a crucial element for achieving success. Contemporary businesses require technological and software solutions to effectively oversee their ever-growing internal operations and expanding global business networks. This study seeks to pinpoint the key factors influencing user satisfaction with Cloud ERP systems. We analysed 2035 reviews of 12 distinct ERP systems, sourced from the Gartner Peer Insights platform between 2016 and 2023. Employing statistical methods such as hypothesis testing and correlation analysis, we identified patterns and examined hypotheses regarding how factors such as profession, organizational size, and industry, impact user evaluations. We conclude that user satisfaction is influenced by the size of the company and the user's position within the organization. Our findings offer valuable insights into the interplay between organizational characteristics and the efficacy of Cloud ERP systems, highlighting the significance of tailoring technological solutions to meet the unique needs of each organization in the realm of information management.

With the technological progress and increasing digitization of society, there is a growing emphasis on financial development and investments in areas with significant environmental impact and climate change. In this context, academic research plays a vital role in identifying best practices and effective policies to promote sustainable financial development and responsible digitization, taking into account environmental impact and contributing to combating climate change. The present paper provides a bibliometric analysis of the relationship between financial development, digitization, and climate, aiming to offer a clearer picture of the current state of research in this field, identifying research gaps, and ultimately guiding future researchers interested in investigating this expanding area. This bibliometric analysis is conducted using VOSviewer software, utilizing 55 papers published between 2015 and 2024, extracted from the Web of Science database, available at this time. The study highlights the main contributors to investigating this relationship, identifying international collaborations that have taken place over the years to elucidate the links between these three areas. Additionally, it identifies trends and future developments in this field by analyzing connections between clusters of key words. The current research can provide insights to both domain specialists and policymakers, helping to balance the promotion of financial development and digitization in a sustainable and environmentally responsible manner.

The aim of this article is to discuss the problem of internationalisation of small and medium-sized enterprises sector organisations in Poland in the years 2019–2022 with a particular focus on the Łódź Voivodeship (9th position from the point of view of entrepreneurship in the regions of Poland). The first part of the article provides the theoretical background of internationalisation of enterprises. The second part contains an analysis of empirical data on the basis of author’s own research and determinants of company growth relating to the internationalisation of the small and medium-sized enterprises sector in Poland in the years 2019–2022 with a particular focus on the Łódź Voivodeship. The main research hypothesis in the article is that the majority of enterprises in the small and medium-sized enterprises sector in the Łódź Voivodeship conduct international activities, although the geographic range of the (international) activities of both transport-shipment-logistics companies and companies from the production and service industry (outside the transport-shipment-logisitcs industry), does not translate into a high share products/services ordered on the international market to the total quantity of products/services ordered by these companies. The article was written on the basis of the literature on the subject, survey results and reports of the Polish Agency for Enterprise Development and documents of the Marshal’s Office of the Łódź Voivodeship.

This paper investigates and describes the trends of Globalization and the significant values of sustainable business, energy and artificial intelligence for companies and business. The research questions are “Has Globalization set up trends for sustainable business, energy and artificial intelligence?” and “what impact, trends and values would be trending companies and business?” The research method started with an initial literature review of the relevant literature to the field of research and topic and then in order to go further with research a qualitative quantitative approach was followed using data analysis, description and interpretation. The results showed that a sustainable company is the successful combination of its activity and efficiency, companies and businesses need to incorporate sustainability with respect to the economic, social and environmental aspects to reach values, artificial intelligence can be very useful for companies’ development and the improvement of energy resources since it has become an important means in technology and globalization. Artificial intelligence is a sometimes controversial issue that requires more attention from both a utilitarian and an ethical perspective, but currently the use of artificial intelligence is still important. Energy is very important for the economy and companies’ operation, traditional energy that rely on oil and gas is still the most compatible. To sum up, in times of globalization companies and business holders should focus on a apply sustainability in business by focus on energy satisfaction and incorporating safe AI to reach values.

The Romanian television industry presents a dynamic and competitive environment characterized by a diverse range of players, regulatory challenges, and evolving consumer preferences. This paper aims to provide a comprehensive assessment of the competitive landscape within this sector, focusing on key factors such as market structure, major competitors, regulatory influences, and technological advancements. The study begins with an overview of the Romanian television market, highlighting its historical development and current state. It identifies the major broadcasting networks and cable providers, examining their market shares, audience reach, and strategic positioning. Special attention is given to the role of public versus private broadcasters and the impact of foreign investments on local content production. Regulatory frameworks governing the television industry in Romania are analyzed, with an emphasis on how these regulations shape competition and influence market entry and operations. The study also explores the effects of digitalization and the increasing penetration of internet-based streaming services, assessing how these technological changes are disrupting traditional television consumption patterns and competitive strategies. Consumer behavior trends are examined to understand how audience preferences are shifting in response to the proliferation of digital content and on-demand viewing options. The analysis includes demographic factors and their implications for programming and advertising strategies. Through this multidimensional assessment, the paper provides insights into the strategic challenges and opportunities facing television broadcasters in Romania. It concludes with strategic recommendations for industry stakeholders to enhance their competitive positioning in a rapidly evolving media landscape. This paper contributes to a deeper understanding of the Romanian television industry and offers a framework for future research on media competition in emerging markets.

In the contemporary world, the significance of technology has become increasingly paramount. Hence, we are living in times in which the theme of digitalization is a transformative force, reshaping our daily lives and fundamentally altering the way we interact, work, and perceive the world around us. The paper aims to conduct a bibliometric analysis of digital marketing research in Romania. A total of 37 studies were found and systematized using inclusion and exclusion criteria. The papers were selected only if they featured research on digital marketing in the Romanian market. Using this search strategy, a literature review was conducted based on papers extracted from the Web of Science database. As a result, 16 papers were evaluated. Although the analyzed articles highlight quite a variety of things, the papers emphasize that digital marketing is an emerging subject in the Romanian market. This paper adds to the existing body of knowledge that digital marketing can be viewed from three perspectives: the impact of digital marketing strategies on consumer behavior in the technology era, exploring the nexus of digital marketing and social media: consumer engagement, trends, and impact, and digital marketing transformations across industries: trends, challenges, and opportunities.

This study assesses the profitability of EU banks during 2010–2021 on three levels: 1. determining factors, 2. differences between the former communist countries and the core-capitalist countries, and 3. the myth of banking profitability and its relationship with populism. Profitability is examined from the perspectives of return on assets and return on equity. As determinant factors of profitability, we consider endogenous and exogenous indicators reflecting credit risk, operational efficiency, market size, market concentration and competition, demand evolution, capital adequacy, and inflation. Populism is considered relevant as a proxy for legislative risk and perceptions about the banking industry. The overall negative perception of the industry is attributed to the belief in the so-called exaggerated profitability, leading to consistent and significant legislative initiatives that generally restrict the development of banking finance. The analysis is structured around the banking industries of EU countries and then the two major groups within the EU: former communist countries and Western countries. The significance level of profitability determinants supports the existence of significant gaps between the banking systems of the former communist bloc and Western countries. Populism disproportionately impacts profitability in Eastern economies compared to their Western counterparts. The study additionally engages in per-industry comparative analysis of profitability measures.

The preservation and promotion of traditional Romanian national sports culture face numerous challenges in the digital age. The public's understanding and appreciation of this cultural heritage are essential for its continued existence and dissemination. This study aims to identify the digital challenges that hinder the promotion of traditional Romanian sports culture and explore the potential of digital technologies in promoting this culture at the educational level. The specific objectives include enriching information dissemination, improving public awareness, integrating traditional sports culture into school curricula, and balancing cultural traditions with technological innovation. To achieve the study's objectives, we conducted a thorough review of the existing literature to measure the level of physical literacy in Romania and develop digital challenges aimed at enhancing the usefulness and dissemination of traditional sports culture. The study also addresses the current level of public awareness, the integration of sports culture into education, the impacts of digitalization, and the protection of cultural heritage. The expected outcomes of this study include a detailed understanding of public awareness and appreciation of traditional sports culture, effective strategies for integrating this culture into educational curricula, and insights into the impact of digitalization on cultural heritage. This study also explores the balance between tradition and technological innovation in sports culture. The study aims to enhance the dissemination and practical application of traditional Romanian sports culture in the digital age by examining relevant literature and developing digital challenges. This will promote its broader educational and cultural adoption and ensure its preservation for future generations.

This paper aims to analyze the correlation between the gross domestic product (GDP) and its components as well as the Harmonized Consumer Price Index (HICP) total, electricity and gas by deploying principal components analysis and factor analysis on wards linkage and compare the results for GFC period, COVID-19 pandemic and the war in Ukraine period for EU27, Romania, Greece, Italy and Hungary. The result obtained show that each crisis has its specificity given their different source, GFC was borne in the financial system the COVID-19 crisis in the medical crisis and the war in Ukraine a military one and that starting with 2020 the economy has faced multiple crisis. Government consumption is found to be one of the significant variables for all crisis as a result of the efforts made by the governments to limit the negative effects of the GFC, pandemic and the war in Ukraine and HICP electricity and HICP gas due to the impact of COVID-19 on the supply chain prior to the war in Ukraine and the shortage of personnel, as well due to the sanctions applied to Russia and the fact that it is the main exporter for the European Union.

In the current digital era, technological transformations have become an essential factor in the evolution of global economies. Our study analyzes the impact of digitization, financial freedom, and unemployment rate on economic growth. It also highlights how regional and global interconnectedness can generate financial contagion effects that affect economic growth. Thus, four research hypotheses were established and tested in our study using the Autoregressive Distributed Lag (ARDL) model. Firstly, we hypothesized that the unemployment rate has a negative effect on economic growth, while digitalization has a positive impact on economic growth. Concerning financial freedom, the ARDL model revealed that it positively influences economic growth, but only in the short term. Additionally, the model showed that financial freedom moderates the impact of financial contagion on economic growth, also in the short term. The findings of our research underscore the complex relationships between these variables in the context of the digital economy and global interconnectivity. They highlight the short-term positive impact of financial freedom on economic growth and its role in mitigating the effects of financial contagion. Moreover, the study emphasizes the importance of understanding how digitalization, financial freedom, and unemployment rate interact to shape economic dynamics. These insights contribute to a deeper understanding of the intricate dynamics of the contemporary economy and provide valuable implications for policymakers, businesses, and researchers. In an increasingly interconnected world, where technology plays a pivotal role, comprehending these relationships is crucial for fostering sustainable economic growth and financial stability.

Over the past decades, the process of monitoring bioeconomy has witnessed a significant transformation, marked by a dynamic evolution of analysis instruments and algorithms. Our study explores monitoring practices on a global scale, spanning from traditional indicators to cutting-edge AI-enabled approaches. Initially reliant on classic metrics, the bioeconomy analysis landscape has transitioned towards a more sophisticated paradigm, incorporating advanced tools for data collection, processing, and analysis. Also, the integration of artificial intelligence has empowered researchers to get actionable insights from vast and complex datasets. The results will describe the chronological progression of monitoring methodologies, from the emergence of statistical models, by introducing regression analysis, time series methods and predictive modelling, to the subsequent integration of machine learning, reaching the era of artificial intelligence and big data. This will provide a better understanding of the evolution of bioeconomy and a state-of-the-art of the AI applications in the field, offering also insights into the historical development of monitoring methodologies.

An effective tax system is one that successfully attains the objectives of fiscal equity, neutrality, efficiency, and sufficiency. Due to significant changes in the Romanian profit tax system, marked by the introduction of the turnover tax alongside the profit tax, and considering the limited existing research on this subject, the study aims to decrypt the legal background and assess its impact on economic reality. To appraise the adequacy of the profit tax policy with fundamental fiscal principles, the study captures a snapshot of the economy based on the financial results for the year 2022 for all Romanian companies. It estimates the impact of the fiscal burden, the consequences on key performance indicators, and identifies the adverse effects and vulnerabilities of the turnover tax system. The findings indicate that, for most companies, the effective tax rate nearly triples, resulting in a double-digit erosion of profitability. Turnover provides a glimpse of a business's scale, while profit stands as a reliable metric providing valuable insights into a company's financial performance. Therefore, the relevant criterion for evaluating, analyzing, and taxing a taxpayer should be profit, complemented by the establishment of a minimum threshold for the effective tax rate consistently applied to all taxpayers, irrespective of their turnover. Unveiling a novel perspective, the study presents both the weaknesses of legal provisions and their impact on the business environment. Furthermore, it concludes with alternative approaches to the mechanisms that can lead to the establishment of a well-balanced fiscal strategy, promoting economic strength and sustainable growth.

The Sustainable Development Goals have become a universally approved framework for evaluating both the status quo and the progress toward a new socio-economic structure, designed to improve life on earth. Therefore, aspects such as education, health, and climate change have been defined in detail in the 2030 Sustainable Development Agenda, which has been quickly adopted by the European Union. In the current paper, we have chosen to focus our attention on the SDG indicators that show a negative valence and classify them into four broad social risk categories: poverty, climate, labor, and health. Based on those, we have constructed four subsequent indicators, along with a total risk index, using a simple averaging process. Next, in the interpretation part, we aimed to study the risks from two perspectives: regionally, by using graphical representations of the EU, and evolutionary, by applying the same methodology for three distinct moments: 2015, 2019, and 2020. The periods were chosen based on two objectives. The first one was to assess the de facto state in the year the goals were adopted (2015) and the progress in a 5-year timeframe, and the second was to observe if there are any visible differences generated by the COVID-19 pandemic (thus the 2019 versus 2020 comparison). To complete the methodology, we employed a principal components analysis to assess whether the indicators selected would group similarly to the composite approach, with some significant changes. Lastly, considering the proposed framework, the subject at hand is analyzed through multiple focus points, providing insightful observations on the social risks prevalent in the EU scene.

Massive acquiring the basic digital skills for workers is the keystone of successful digital transformation of business and society and not the last of new behaviors that allow a better life for any individual. While its significance is widely acknowledged and politically accepted, the practical implementation remains incipient. This situation heralds the rise of an inevitable skill revolution, designated as a top priority, yet unfolds under the shadow of uncertain job projections. We generate maximum, average, and minimum scenarios for the duration and speed of acquiring basic digital skills at 9 sectors NACE Rev 2 (C, E, F, G, H, I, J, M, and N sectors), in the framework of the Digital Competence Framework for Citizens. The forecasting for the 2030 year is based on the frontiers of the sectors’ historical performances in terms of the Eurostat input data, for different time intervals: the enterprise economic performance during the period 2011–2020 (number of enterprises & persons employed, the growth rate of employment, and the sectors’ average enterprise dimension in terms employees); the enterprise overall basic digital skills performance for the persons aged 16–74 years in 2021 and 2023, as a measure for innovation propensity of the economic sector and the sector capacity to learn measured through the enterprises organized training for ICT skills developed/upgraded for the period 2012–2022. Our main contribution of the paper is to initiate maximal, average, and minimal 2030 forecast scenarios by 9 NACE sectors for digital basic skills acquiring for working individuals in Romania in the conditions of radical innovation in view to reach the Digital Decade target of 80%. The main conclusion of this work is that basic digital skills are a continuous accumulative process, with specific sectoral duration & speed, according to its digital transformative state, which requests a new management paradigm.

In the realm of contemporary business strategy, lobbying has emerged as a critical factor influencing policies, shaping legislative outcomes, and ultimately impacting the trajectory of businesses. In a globalized world economy, understanding the dynamics between the private and public sectors is crucial and warrants in-depth analysis. This analysis is of paramount importance for the economic field of study, as it elucidates a business dimension often overlooked by academia. Lobbying, while integral to business strategy, remains a dimension less explored in scientific research compared to disciplines like management, marketing, finance, or supply chain. This article aims to delve into the nuanced landscape of lobbying, shedding light on its dynamic role in the corporate and economic spheres. While previous studies have primarily focused on the general impact of lobbying on policy outcomes, this article seeks to bridge this gap by providing an updated examination of its role in the context of business strategy. The research employs a multifaceted approach, combining a thorough review of existing literature with real-world data on lobbying activity in the USA, European Union, and Romania. By offering a comprehensive analysis, this article aims to contribute to a deeper understanding of the intricate relationship between lobbying and business strategy, thus informing strategic decision-making processes in contemporary business environments.

The business process management discipline is a vastly studied field with significant contributions to creating value for organizations, being structured around various activities. Among these activities, creating and modifying business processes are particularly difficult and resource-intensive tasks within organizations. Recently, a new artificial intelligence architecture model was introduced, generative pre-trained transformers, changing the way machines can process and understand digital content. The integration of generative artificial intelligence into virtually any field of study is occurring at a very fast pace, but applying it to the optimization of business processes is still ongoing research. We have identified a particular area of improvements. A lot of work has been done on the automation of activities of a process but not on the process itself. In this paper, we conducted a business use case, consisting of dynamically meta-optimizing a credit application process, based on performance indicators (e.g. profit), using a software prototype system. Several implications derive from the execution of this business use case. (1) A significant decrease in the time a process manager needs to spend on designing and redesigning the business process; (2) An increase in the speed of adoption of business processes, even for small and medium-size enterprises; (3) Integrating such a system into the organization provides an element of agility, making it ready to environmental changes and able to adapt. (4) Ultimately, organizations that successfully adopt this technology, could achieve autonomous adaptation to the environment, leading the way for the ultimate digital enterprise.

This paper investigates the applicability of the Technology, Organisation, and Environment (TOE) Framework in accounting, specifically the dramatic impact of Artificial Intelligence (AI) on the industry. Companies are motivated by a variety of factors to strategically integrate AI, despite barriers such as changing regulatory landscapes. Incorporating evidence from semi-structured interviews with owners, CFOs, and employees of small to large corporations, this study demonstrates that relative advantage and compatibility are important drivers, Additionally, the internal and external business environment emerges as a decisive factor shaping the decision to adopt AI, aligning with prior research. In a unique contribution, this study uses the TOE framework to highlight crucial elements driving artificial intelligence implementation, filling an empty space in previous literature. The author maintains the argument that the regulatory environment is poorly understood and emphasizing the critical relevance of system compatibility with Artificial Intelligence systems. Additionally, the results have also noted distinct concerns faced by small businesses in implementing artificial intelligence.

This analysis delves into the financial dynamics of S&P 500 companies through the application of unsupervised classification techniques. Utilizing companies’ financial statements, our study aims to identify distinct financial patterns and scrutinize offshore profit retention practices. We group S&P 500 companies based on similarities in financial performance, unveiling common trends and potential outliers. Concurrently, Principal Component Analysis (PCA) reduces dimensionality, revealing key financial variables that significantly influence variability among these corporations. A focal point of our investigation is the examination of profits retained in offshore financial centers, providing insights into the strategies employed by SP500 companies. This analysis is crucial for investors, policymakers, and financial analysts seeking a deeper understanding of global financial strategies and their implications on corporate financial health. In conclusion, our study offers concise insights into the financial landscape of the S&P 500, utilizing advanced analytics to uncover patterns and trends. The findings contribute to informed decision-making for stakeholders while shedding light on offshore profit retention practices, emphasizing their broader impact on corporate financial strategies.

Achieving sustainable development represents one of the foremost challenges of the twenty-first century. In this context, funding environmentally and/or socially impactful projects becomes vital. Consequently, in recent years, the green, social, and sustainability [GSS] bonds have become a ‘trending’ topic, with more and more countries being interested in promoting their issuance. Through our research, we aim to advance a two-fold contribution to the field of economic studies on GSS bonds, as follows. First, we perform a brief bibliometric analysis on a dataset of 950 scientific documents extracted from the Web of Science Core Collection database, spanning the years from 1976 to 2024. The results highlight a growing interest in the subject of GSS bond issuance in the last few years. Second, we assess the manner in which various factors might influence the GSS bond issuance for a sample of 28 European countries between 2018 and 2022. In this respect, we apply a comprehensive statistical technique—Bayesian Model Averaging, with a ‘uniform’ model prior, noninformative priors for the constant and the error variance, and Zellner’s prior with ‘Empirical Bayes local’ \(g\) parameter for regression coefficients. The econometric results suggest that carbon dioxide emissions are a primary determinant of GSS bond issuance, followed by overall governance quality and unemployment. These outcomes are in line with previous studies on the issuance of GSS bonds.

Sustainable development is a topic that is currently being addressed by many industries around the world, including tourism. As a result, the topic of sustainable tourism has garnered a great deal of attention from the government, stakeholders, and academics. The tourism industry is regarded as one sector with a role to play in promoting environmentally friendly and responsible development for future generations. Practitioners, academics, and governments are working together to find solutions to put most countries’ agreed-upon principles of sustainable development into action. The hotel, transportation, restaurant, and travel industries are among those that have made significant strides in implementing the values of sustainable tourism development. This phenomenon is supported by numerous studies conducted on a large scale by academics and practitioners. However, in a more complex and macro context, such as destination management, this issue continues to receive little attention. The complexity of the elements that comprise a tourist destination also contributes to this phenomenon. According to some researchers, there are at least six major elements that comprise tourist destinations, or what is known as the 6A’sCIT, which include attractions, accessibility, amenities, ancillary services, activities, available packages, community empowerment, incentives, or investments, and technology. As a result, the goal of this research is to systematically examine research references on sustainable tourism destinations from 2012 to 2022. Using Scopus data, this study will specifically examine trends in the development of sustainable tourism destination research. A descriptive qualitative approach was used in this study, which combined the bibliometric method and a literature review. This study makes use of 200 international publication data with the keyword “sustainable tourism destinations” sourced via web scraping from the Scopus database. Only articles in English based on these keywords were used in the sample. As a result, because the Scopus database includes publications in languages other than English, this study does not cover all research on sustainable tourism destinations. According to the study's findings, the development of Scopus-indexed publication growth on the topic of sustainable tourism destinations was greatest from 2018 to 2022, with a total of 152 articles. Sustainability (Switzerland) is one of the journals that regularly publishes this issue, with a total of 30 articles. This review also divides sustainable tourism research trends into four major categories: research locations, research approaches, and research scopes or topics. Furthermore, this review organizes four major perspectives that are commonly used when discussing sustainable tourism destinations, including those concerning social and cultural factors, business, economy, and marketing, the environment and ecology, and infrastructure and technology. One of the study's limitations is the limited scope of the articles used, which were sourced from a single Scopus database. In the future, the recommendations in this study can be used as hypotheses and in-depth follow-up research, in addition to research with broader literature sources. The study's findings are expected to be useful to academics and researchers interested in studying sustainable tourism destinations.

The European Union (EU) is witnessing a surge in the beauty industry, with its impact reaching far beyond aesthetics. This analysis delves into the socio-economic contributions of this flourishing sector, drawing insights from data and industry reports. The EU’s cosmetics sector is a powerhouse, generating billions of euros in added value annually. While a significant portion stems directly from cosmetic product manufacturing, the remaining value is created throughout the intricate supply chain and retail sectors. This ripple effect highlights the industry’s interconnectedness with the broader EU economy. Beyond its financial contributions, the beauty industry is a major job creator within the EU. Millions find direct employment in cosmetics production, from research and development scientists to manufacturing personnel. However, the true employment impact extends far beyond factory walls. The industry creates a significant number of indirect jobs across the value chain. Raw material suppliers, packaging manufacturers, logistics companies, and retail personnel all contribute to the beauty industry's success, further bolstering the EU's workforce. The report also explores the social aspects of the beauty industry’s impact. The rise of personalized beauty products and inclusive marketing campaigns fosters a sense of self-expression and caters to diverse demographics. This focus on individual needs and cultural sensitivity can contribute to a more positive body image and increased self-confidence within European society. However, the analysis doesn’t shy away from acknowledging potential challenges. The industry faces concerns surrounding sustainability, particularly with regards to packaging and ingredient sourcing. Additionally, ethical production and fair labor practices are crucial considerations for a responsible and sustainable beauty sector. By examining both the positive and potential drawbacks, this report aims to provide a comprehensive understanding of the EU's booming beauty industry. Its significant socio-economic contributions, from job creation to fostering self-expression, are undeniable. However, navigating the industry's future growth necessitates addressing sustainability concerns and ensuring ethical practices throughout the value chain. As the beauty industry continues to evolve, a focus on both economic prosperity and social responsibility will be paramount for its continued success within the EU.

This paper aims to explore the positioning strategies of global online retailers in Bulgarian market and their website performance. The first research objective is to identify the online purchasing patterns of Bulgarian online shoppers and to determine the awareness level of global online retailers. The second research objective is to identify the factors shaping consumer perceptions toward positions of global online retailers. It was proven that there is a relationship between the demographic profile of customers and their attitude toward online shopping as well as the frequency of online shopping. Factor analysis revealed the following four factors affecting the perceived positions of online retailers: purchasing process, quality of product information and additional services during the purchase, purchasing risks, and size and reputation of retailer.

Sustainability is becoming a prominent corporate values that organizations are integrating into their current business operations in order to evaluate their performance. Non-financial reporting, often known as sustainability reporting, describes how a company or public organization informs consumers about the environmental, social and economic impact and performance of current actions. The mission of this study is to examine how sustainability reporting has evolved and to identify vulnerabilities affecting the development of European business with the establishment of the critical inflection point and the causes that led to these vulnerabilities. The methods used consist of a critical literature review and econometric modelling of the databases and a social model of European business sustainability will be designed. The results of the present study will demonstrate the interrelated influence of environmental, social and governance reporting on the sustainability of European business. We believe that through this paper, the study is useful for supranational decision makers to develop policies to improve the ESG reporting regulatory framework and add value to the literature in the international accounting area.

This paper explores the role of risk profiling in the insurance industry, particularly its application in identifying and addressing high-risk clients. Risk profiling utilizes various data points to assess the likelihood and severity of potential claims for an individual or entity. This information allows insurers to make informed decisions regarding policy issuance, pricing, and, crucially, how to manage the challenges presented by high-risk clients. The paper analyzes the factors that contribute to a high-risk profile, such as driving history, health conditions, or property hazards. It explores the potential negative impacts of high-risk clients on an insurer’s portfolio, including increased claims frequency and severity. Effective risk management strategies are then examined, focusing on methods to mitigate these risks. One strategy involves risk-based pricing, where premiums are tailored to reflect the client's specific risk profile. This ensures a fairer system and discourages high-risk behavior. Additionally, increased deductibles can incentivize risk mitigation by the client, as they are responsible for a larger portion of initial claim costs. Furthermore, insurers can offer discounts or benefits for taking steps to reduce risk, such as installing security systems or completing safety courses. For certain high-risk activities, policy exclusions may be implemented to limit coverage. As a last resort, non-renewal or cancellation may be necessary in cases where the risk is deemed too high. The paper concludes by emphasizing the importance of striking a balance between profitability and access to insurance. By implementing effective risk profiling and risk management strategies, insurers can ensure the sustainability of their business while still offering coverage to a diverse range of clients, including those with higher risk profiles.

The European Union’s financial landscape is undergoing a transformative shift towards sustainability, driven by legislative frameworks such as the Corporate Sustainability Reporting Directive (CSRD). This movement mandates the integration of Environmental, Social, and Governance (ESG) considerations into financial decision-making, directing investments towards sustainable development. Despite this focus, firms encounter challenges in standardizing ESG benchmarks, ensuring data availability, and embedding sustainability into financial strategies.

This paper explores contemporary scholarly discourse on sustainable finance, the integration of ESG values, and the impact of EU policies on corporate practices. It examines the evolving stance of the financial sector on sustainability, identifying challenges and opportunities presented by regulatory mechanisms like the CSRD. Employing a qualitative research approach, the study addresses the significance of anticipatory compliance in sustainable project financing and its relationship with organizational growth. Through case studies and expert interviews, it investigates how businesses can incorporate ESG principles proactively, not just for compliance but as a catalyst for innovation and growth.

Findings indicate that a forward-looking strategy towards ESG compliance, including sustainable project investments as a core corporate element, enhances a company's adaptability to regulatory changes and sustainability performance. This approach fosters the development of adaptable organizational models that meet ESG standards proactively, promoting a culture of sustainability that transcends compliance and unlocks progress and innovation opportunities.

The paper contributes to the field by presenting a novel perspective on embedding ESG values within organizational strategy and architecture. By shifting from reactive to proactive compliance, enterprises can navigate the EU's regulatory landscape more effectively, illustrating how strategic investments in sustainability can drive transformative change and sustainable growth in the CSRD era.

This research delves into the multifaceted landscape of Environmental, Social, and Governance considerations, with a particular focus on the Baltic States of Lithuania, Latvia, and Estonia. Utilizing a dataset comprising 26,146 scientific publications from the Web of Science Core Collection, the study discerns directionalities within the analysis of Environmental, Social, and Governance considerations across various domains. The findings reveal a pervasive exploration of Environmental, Social, and Governance, spanning distinct areas such as environmental effects, corporate performance, governance practices, and societal engagement initiatives. Notably, the analysis highlights the dominance of Estonia in terms of the Environmental, Social, and Governance index, albeit with notable variations observed across the Environmental, Social, and Governance dimensions. Furthermore, regression analysis elucidates the relationship between Environmental, Social, and Governance parameters and their impact on the Environmental, Social, and Governance index, Gross Domestic Product growth, and ease of doing business indicators. However, the findings indicate no statistically significant relationship between Environmental, Social, and Governance parameters and their impact on these variables, underscoring the complexity of the interplay between sustainability factors and economic performance. Despite these limitations, the research underscores the paramount importance of Environmental, Social, and Governance integration at the country level, presenting a compelling case for leveraging Environmental, Social, and Governance considerations to attract investment, foster economic growth, and promote sustainable business practices in the Baltic region. Importantly, the study constructs a country-level Environmental, Social, and Governance index, providing valuable insights into the sustainability performance of Lithuania, Latvia, and Estonia.

Industry 4.0 is a revolutionary industrial management concept that uses today's modern technological products and has led to the emergence of new concepts such as artificial intelligence, robotics and autonomous systems. Aviation is one of the industries where these advanced technologies are first adapted and most intensively applied. Robotics and autonomous systems are benefited in the production, maintenance, and repair of hybrid and electric-powered aircraft. Industry 4.0 components such as machine learning and artificial intelligence are also being utilized in areas like advanced flight control systems, flight schedule planning and advanced air traffic control. Measuring the level of technology adaptation at airports plays an important role in managing investments and determining customer satisfaction. Therefore, analyzing the latest technological investment decisions at airports is crucial. One of the various tools that can be utilized for this evaluation is fuzzy multi-criteria decision making (MCDM) methods. In this study, technological applications in the airports in Türkiye are examined with an integrated fuzzy PIPRECIA-TOPIS MCDM methodology. The experts from the industry are consulted for their opinions. This study aims to contribute to the evaluation of technology use in the aviation industry.

The COVID-19 pandemic has radically altered customer acquisition behaviour, with many retaining several previously developed preferences in the New Normal. Quantitative research was used through a questionnaire to identify consumer expectations and behaviour regarding food purchases before, during, and after the COVID-19 pandemic. The aggregated data from 381 respondents were subject to a reliability check, exploratory factor analysis, and cluster analysis through the K-means clustering algorithm. The results allowed the identification of two consumer clusters: one cluster comprised of COVID-19 Pandemic Denials, namely individuals who do not believe in the pandemic and its aftermath and who buy food without regard to health and other restrictions, and Anxious COVID-19 Buyers, who are afraid of the virus and the pandemic and resort to food purchases in maximum safety. The research is relevant for managers of retail companies, as this segmentation allows them to understand customer motivations and preferences better, creating well-defined offers for each cluster.