Browsing by Author "Stan, Sergiu Octavian"

Now showing 1 - 7 of 7

Decisions under uncertainty in the COVID-19 era
(Tritonic, 2020) Stan, Sergiu Octavian; Treapăt, Laurențiu Mihai; Drăgănescu, Elena Corina
To be able to estimate an efficient and effective development over time, companies need predictability. Usually, the highest form of predictability occurs when the information media are clear, complete, and stable. In these conditions, the top decision-makers within the organizations have a very good image of the context in which the business is located, as well as on the conditions on it. In this context, managers can relatively easily define the multitude of decision options and implicitly the action scenarios on which they can decide. In reality, things are in the market in a completely different way. The information available to managers is rarely sufficient, or clear, and in most cases is unstable (in sense of time-changing). In other words, the decision taken no longer has sufficient premises to be taken in conditions of predictability, but on the contrary in volatile and unstable environments. Under these conditions, the decision under the condition of certainty turns into a real condition of uncertainty, based decisively on the appearance of probabilities in the decision-making process. The appearance of probable scenarios, instead of certain ones, makes the decision-making process move towards the decision in conditions of uncertainty. In parallel with the increase of information inaccuracy or volatility, increase also the degree of uncertainty in the decision-making options. The economic crisis accentuates the effect of information volatility and as a result, increases the level of unpredictability for decision-makers within organizations. This article addresses theoretical elements regarding the decision in conditions of certainty and conditions of uncertainty, specifying the similarities and significant differences between the two concepts. At the level of the case study, in the present paper are highlighted through a quantitative study the particularities of the managerial decision in conditions of uncertainty economic crisis from 2008-2020. This analysis is compared with data taken from a set of three studies conducted between March and April 2020 by the National Institute of Statistics, on the significant impact of the pandemic generated by COVID-19 on the Romanian economy. The conclusions highlight for each of these two analyzed crises, the perspective of the particularities of the managerial decision in conditions of uncertainty. The conclusions also highlight how managers perceive the action ways in which they can manage this uncertainty.
Global competencies for higher education graduates : priorities and opportunities for the labour market
(IATED Publications, 2020) Butum, Lavinia Cornelia; Nicolescu, Luminița; Stan, Sergiu Octavian; Găitănaru, Andrei
Internationalization of Higher Education (HE) has direct implications on adapting the curricula and providing the skills and abilities needed by graduates on the labour market. In this regard, in recent years, universities and researchers have undertaken studies in order to identify the skills that their graduates need in order to be competitive on the labour market. Literature recognizes a range of skills and abilities that are gathered under the term of global competences and are needed by the young graduates both in the recruitment process and in their future career. Also, studies have shown that the graduates with high skills and abilities have mobility on the labor market and are able to work in a variety of cultural contexts. Thus, for universities, it is of interest to identify which are the global competences needed by their students. This paper will present an analysis of students’ demand for global competences in the fields of economy and social sciences. To this end, we selected 140 students from the Bucharest University of Economic Studies - Faculty of International Business and Economics and 170 students from the National University of Political Sciences and Public Administration - Faculty of Communication and Public Relations, and we administered an online survey regarding the global competences that students believe are valuable for their future workplace and in the recruitment process.
Mapping challenges of the Romanian NGOs. A focus on human resources
(Faculty of Management (SNSPA), 2019-03-29) Zbuchea, Alexandra; Ivan, Loredana; Stan, Sergiu Octavian; Dămășaru, Costin
The effectiveness of NGOs, similar to other types of organizations, depends on the quality and implication of their employees and volunteers. The literature highlights the role of learning capabilities, organizational learning, networking and community capacity building in ensuring organizational sustainable development in the NGO sector. In this framework, professional human resources should be an important part of the management strategy. Continuous and personalized training would be also important for NGOs. The present paper presents a qualitative investigation aiming to map the training needs and practices of the NGO sector in Romania, both from the perspective of its representatives and its stakeholders. The findings show a general agreement and concern related to the professionalism of the workers in the sector, as well as related to the lack of explicit responsibility/the feeling of being accountableassumed by the members of the sector. The study also revealed a need for closer cooperation between the members of the Quadruple Helix.
A microcredit evaluation model for non-bank financial institutions
(Emerald Publishing Limited, 2020-10-20) Leon, Ramona Diana; Treapăt, Laurențiu Mihai; Stan, Sergiu Octavian; Gheorghiu, Anda
The paper aims to develop a microcredit evaluation model (MEM) which could serve as a useful tool for banks and NBFIs when SMEs’ economic and financial risks are evaluated. Design/methodology/approach: Based on the literature review, a set of 17 qualitative and quantitative prudential indicators is selected. Further, a calculation system is developed which relies on the multiple criteria analysis model elaborated by Altman (1968); starting from this, a matrix is developed and a rating system is built. The model is tested among six NBFIs which operate on the Romanian market; three of them are labeled by the Romanian Central Bank as the worst performers, while the other ones are qualified as the best performers. Data are collected from companies’ annual reports and also from the Ministry of Finance. Findings: It proves that the MEM can serve as a useful tool for the national and international NBFIs’ risk assessment. It can anticipate NBFIs’ success or fall. Furthermore, its results can be guaranteed with a probability of 95 per cent, calculated through the VaR method. Last but not least, it can also be used by the international NBFIs which intend to enter in the Romanian market. Originality/value: The present paper proposes an original model based on both quantitative and qualitative indicators organized in an integrative equation. The MEM helps both parties involved in the financial grant awarding process – NBFIs are able to better assess requests from SMEs, enabling them to increase the volume of granting, whereas SMEs are able to access money for development projects more easily.
Sustainable knowledge management and its impact on the performances of biotechnology organizations
(MDPI, 2019-01-11) Zbuchea, Alexandra; Pînzaru, Florina; Busu, Mihail; Stan, Sergiu Octavian; Bârgăoanu, Alina
Starting from the findings of specialized studies on knowledge management in the field of biotechnology, this paper aims to present the factors that underline sustainable performances of Romanian biotechnology organizations. Particularly, descriptive analysis of these factors has outlined a picture of the current situation of biotechnology in Romania. The design of an exploratory knowledge management model for organizations in the biotechnology sector was achieved and validated through a panel data model. Starting from a model of growth based on productivity, capital inflow, and human capital, three statistical hypotheses were validated by a time series data panel regression model using EViews 9.0 software. The data were collected for the enterprises active in the field of biotechnology for a period of nine years. The paper highlights the fact that the economic performance of biotechnology organizations is determined by the flow of capital, productivity, and the workforce. Knowledge-based growth strategies are essential in the econometric model presented. Nevertheless, in terms of knowledge management strategies, the sector has not reached its maturity, and full sustainability is not a norm.
The collaborative economy through the lens of sustainable tourism : a regional-centric view
(Sciendo, 2020-05-25) Treapăt, Laurențiu Mihai; Stan, Sergiu Octavian; Vițelar, Alexandra; Anghel, Lucian Claudiu
Nowadays the tourism industry faces major changes given the vast possibilities for the development of a collaborative economy in tourism that brings forth a new marketplace where consumers rely on each other -changing renting, swapping, and sharing their accommodation locations. The purpose of the present paper is to answer one of the most important challenges of the City of Brașov in Romania, which is the management of the touristic offer. The paper provides a quantitative-qualitative research approach that analyzes - based on semi-structured surveys with the users of collaborative platforms - the perception of travelers concerning the development of collaborative tourism in Brasov County. The management of touristic offer should take into account the pressure that this new type of renting may be exerting on the local economy, especially considering unfair competition on other segments of the tourist market and the change in the physiognomy of the cities of Brașov County.
The influence of transformational leadership on the outcome of the decision-making process in the Ministry of Internal Affairs
(Tritonic, 2023-10-26) Ioan, Alexandru; Stan, Sergiu Octavian
Transformational leadership has gained significant attention as an influential leadership approach in various organizational contexts. This research aims to examine the concept of transformational leadership and its implications for the Ministry of Internal Affairs, a critical sector responsible for ensuring public safety and security. By synthesizing relevant studies, this review explores the theoretical frameworks, models, and key dimensions of transformational leadership. It further examines the relationship between transformational leadership and the decision-making process, organizational outcomes, and the specific context of the Ministry of Internal Affairs. The review highlights the significance of transformational leadership in fostering employee motivation, job satisfaction, organizational commitment, and innovation. Transformational leaders in the Ministry of Internal Affairs exhibit behaviours that inspire and motivate their followers to transcend their own self-interests for the collective goals of the organization. Additionally, the paper investigates the role of transformational leadership in influencing the decision-making process, categorizing decisions by types, implications, number of deciders, predictability, innovation, and outcomes. Moreover, we aim to identify gaps in the literature and potential solutions to fill these gaps. One prominent gap is the limited focus on the unique challenges faced by leaders within the Ministry of Internal Affairs. Future research should explore the specific dynamics and complexities associated with leading in law enforcement agencies. Additionally, there is a need to investigate the impact of transformational leadership on outcomes such as organizational resilience, interagency collaboration, and community relations within the Ministry. To address these gaps, researchers are encouraged to adopt mixed methods approaches, combining qualitative and quantitative methodologies to capture the nuances of transformational leadership within the Ministry of Internal Affairs. Longitudinal studies can also provide insights into the temporal dynamics and sustained effectiveness of transformational leaders in the public sector. This research contributes to the understanding of transformational leadership in the Ministry of Internal Affairs, offering valuable insights for policymakers, organizational leaders, and scholars. By recognizing the importance of transformational leadership and its implications for decision-making and organizational outcomes, we can provide a foundation for future research and practical implications for enhancing leadership practices within the Ministry of Internal Affairs.