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This study presents a theoretical-empirical reflection about concepts, models, and practices of Maslow's Model of Need-Hierarchy in public and private commercial banks in Bangladesh. The empirical part of this study, comprising 130 samples, has been collected through a structured questionnaire. The study reveals that employees of commercial banks have high use of lower level needs and moderate use of upper level needs. The study also reveals employees of private commercial banks have a slightly higher motivational score of each level of Maslow's model, but these motivational differences are significant for safety needs and insignificant for basic, social, esteem and need for self-actualization at the five percent level of significance on a one way ANOVA test. On the basis of these findings, the study concludes that the employees of public and private banks follow Maslow's motivational model without any difference. Maslow's model holds across cultures, but its applicability, in some cases, will be culture-specific; it requires unique managerial attention to cultivating and sustaining well-motivated employees in different companies in different countries around the world.

Multinational companies that have settled in Central and Eastern Europe (CEE) significantly contribute to the recognition of modern HRM concepts and implementation of the relevant HRM practices in the region (Lewis, 2005). To be a strategic partner, HRM managers have to possess various professional and personal competences (Orme, 2010). The aim of this paper is to analyze the main competences of HR managers and their impact on companies' performances. The research hypothesis, based on 2012-2013 CEEIRT data, is that there is a statistically significant relationship among the HR managers' competences and the performances of the MNCs' subsidiaries in Hungary, Poland, Romania, Serbia and Slovakia. The analyzed HR competences are: business knowledge, strategic contribution, personal credibility, HR services, HR information system and foreign language competences. The research analyzed the following organizational performances: profitability, service quality, rate of innovations and environmental matters.

In recent years, some of China's leading firms have made headlines with their European expansion, by either opening new facilities or by acquiring or merging with significant enterprises in Europe. The goal of this paper is to contribute to the existing literature by examining Chinese enterprises expanding into Switzerland. The study also allows some conclusions for Chinese companies entering Central and Eastern Europe. We analyze via interviews the motivations of Chinese companies to expand into Switzerland as well as their behavior and the impediments in their internationalization process. Our findings show that Chinese companies fail to take advantage of certain benefits of western economies (such as open information and stable rule of law). To move forward efficiently, they should develop competence in dealing systematically with readily available market information, building professional networks that recognize a separation between business life and personal life, and managing their Chinese and foreign employees in the foreign cultural environment.

This paper discusses the increasing importance of emerging markets, particularly those in Africa, in terms of international business opportunities in the post-financial crisis period; while BRIC economies have received a lot of attention in the preceding decade, other emerging markets - especially in Africa - show indications of taking on more prominence in the upcoming period. In fact, at present, the continent of Africa represents one of the fastest growing markets in the world. This paper focuses on growth indicators and trends in the African markets as well as potential future international business opportunities; specifically, it examines the competitiveness of African nations, the business environments of countries in Africa, the continent's international trade situation and urbanization in Africa. The paper concludes with a brief discussion on existing business opportunities together with some challenges which remain on the continent.

Financial analysis is an essential tool for those interested in assessing the economic management situation of enterprises and subsequent decision making. The aim of this article is to demonstrate the capacity the IN Financial Analysis (INFA) system has to inform, i.e. its information capability. This is a tool that allows users to comprehensively assess the economic management of enterprises in that it causally links the indicators of financial controlling and risk controlling. We apply it to the best industrial enterprises in the Czech Republic in 2011 and 2012 and at the same time use the representative database of the Ministry of Industry and Trade of the Czech Republic.

This article is devoted to comparative study of regional innovation development in Poland and Ukraine. Innovation potential and performance of Ukrainian regions assessment is grounded on the regional innovation systems approach, employing selected indicators of the EU regional innovation evaluation criteria. Key trends and problematic issues of regional innovation development are captured through a number of methods: comparative analysis, calculating variation of regional innovation capacity indicators within countries and their correlation versus per capita GDP of regions in Poland and Ukraine. The overall low level of R&D and innovation expenditure, high variation of regional innovation performance, insufficient effects of innovations on the regional GDP dynamics as well as lack of feasible policy instruments to support innovations constitute the main risks for the regional innovation systems considered. Weak and patchy regional innovation performance in both countries fosters import dependent managerial practices driven by foreign technology adoption.

This paper describes new trends related to the concepts contained in HR organizational structures within Czech organizations. In addition, it describes the specifics of the roles played by HR in those organizations which have transformed their HR departments in terms of the principles of the HR Business Partner Model, both in theory based on available resources, and at the practical level based on the results of primary examination. The goal of this paper is to present the key perceptions of the changes made in the HR structure within the organizations, as well as the impact of these changes on the effectiveness of the HR departments concerned. Another goal of the paper is to summarize the responsibilities of the newly created position known as the HR Business Partner in these organizations as well as the demands placed upon the personnel employed in the HR Business Partner role. The paper offers conclusions based on the results of both quantitative and qualitative surveys. It also contains a case study of one organization which has one of the best transformed HR departments, and whose services are classified, by internal clients, as being of high quality.

Many studies show that marketing has recently lost its strategic position within companies. Customer Lifetime Value represents a relatively new approach to reestablishing marketing's position as the core management instrument in market driven companies. The main goal of this paper is to summarize the current development and basic principles of the Customer Lifetime Value conceptual model, which sets customers back into the position of key company assets. The paper presents findings that prove the need for a marketing focus change in order to be able to properly manage customer relationships and secure a company's long-term sustainable development.

This article seeks to allocate optimum resources for the wrapping section and suggesting a suitable method that needs to be in place for successful elimination of waste inside the food industry's wrapping section. It also includes identifying the main reasons for various types of wastages inside the wrapping section and cost of all the wastages. The paper is based on observation and research using the approach of lean tools and techniques. The methodology used for evaluating data is value stream mapping and some statistical SPSS tools for analysis. Data are real and are gathered from three different production shifts inside a food industry wrapping section. The main reasons for wastages inside the wrapping section are highlighted. Finally, the paper was concluded by estimating total cost of wastages and recommending a suitable way to save wastage costs. The need to change the jaws inside the wrapping machines, regular maintenance of all machines throughout the industry and training of personnel are recommended. The possible methods along with their benefits to reduce waste, operators, improve productivity and business growth were also highlighted.

The situation of Poland's public finances has been improving. Helped by solid economic growth in 2011, Poland has reduced its budget deficit in line with the Commission's recommendations. However, contrary to earlier forecasts, in 2012 it was still well above the ceiling of 3% of GDP. As a result, the excessive deficit procedure was extended by two years, by 2014. The deficit should be further reduced to reach, in 2015, the level of 1% of GDP in terms of structural deficit. The slowdown of the economy in 2012 and probably in 2013 will not make this task easy. Public debt has risen steadily over the past few years but in recent times, the level has still been well below the 60% of GDP ceiling. The national reform program and the convergence program were adopted by Poland's Council of Ministers on 25 April 2012. The convergence program outlined in an integrated manner the fiscal consolidation efforts, the key structural reforms and the reforms that underpin macroeconomic stabilization. In the medium- to long-term, Poland is faced with a number of challenges. A very low labor force participation rate, in particular of women, and the poor quality of vocational training and education are major concerns given an ageing population. The low level of public and private R&D spending, weak links between science and industry and poor innovation performance call for improvements. Apart from the program of national reforms, crucial for future sustained economic growth and good performance of public finances, an additional factor stimulating activities towards fiscal improvement should be Poland's participation in strengthened economic governance architecture recently introduced in the EU. Euro adoption remains an important goal of the Polish government. The uncertain situation in the euro zone has, however, postponed adoption of a clear timetable of joining the euro zone. The government decided that an additional condition to join the euro zone, apart from meeting the nominal convergence criteria (and legal conditions not discussed here), is stabilization of the euro area situation.

Understanding current and potential customers' behavior is one of the key factors of marketing efficiency and it brings competitive advantage. Companies usually classify their customers and create client groups with similar characteristic features. Such grouping activity is called segmentation or typology. There are many possible methods to obtain data for the segmentation process (e.g. data mining, demographic segmentation, analyzing shopping behavior, media behavior or their combination). This paper concentrates on the financial behavior of the Czech population and brings a survey based on primary data. It takes into consideration aspects like attitude towards risk and savings and even aspects like money ethics and the role of money in society. Seven consumer segments that differ in attitudes towards money were identified and described.

The objective of the paper is to assess the reasons for the current negative position of the Czech Government toward euro adoption and to find out whether the expected benefits of euro adoption for Czech companies still remain. The postponement of euro adoption in the Czech Republic has mainly been caused by the current problems of the euro area. The benefits arising from euro adoption are subject to the reduction of the exchange rate volatility and of the transaction costs, whereas they also depend on the degree of integration with the euro area. These benefits may still be expected - neither the financial crisis nor the economic recession has affected them. The integration of the Czech economy with the euro area is high and still growing. Therefore, euro adoption will lead to the stimulation of mutual trade of the Czech Republic and the euro area.

This conceptual paper contributes to the discussion of the effects of the Great Recession on strategies of multinational companies operating in CEE. The author argues that the original business model that guided the "going East" of Western companies is still valid. However, foreign investors have adapted their strategies for CEE in the aftermath of the crisis: they differentiate stronger between the individual economies, follow a more cautious and selective investment approach, rationalize product portfolios, test new cost-efficient organizational arrangements and consider increasingly "value-for-money" strategies to tap the mass markets.

Based on summarizing the results of the global research on human resource management and the author's dissertation research on best practices in human resource management, this paper attempts to explain the essence of the positive relationship between best practices in human resource management and organizational performance and competitiveness. It supports the assumption that the essence is the optimal system of human resource management, based on proven best practices in job design, employee selection, performance management, employee compensation or employee training, that enables managers to achieve expected organizational performance and competitiveness by achieving desired employee abilities, motivation and performance. The author's dissertation research verified the theoretical assumptions about application of best practices in human resources management and, through a questionnaire survey, examined the views of executives and HR managers from Czech TOP 100 companies and the best employers in the Czech Republic.

This article brings managerial guidelines for new market expansion and current market penetration on the example of a Czech medical devices manufacturer. We describe the strategy in evaluation of the opportunities in the territories, of setting up the benchmarks, the steps how to deal with partners in current territories and how to approach the acquisition of new territories. We show how significant the sales growth is for financials, and we mention the limit defined in the Theory of Sustainable Growth. We show how important the level is, how the products are advanced and how important it is to have unique products. The objective of the article is to bring a basis for new thoughts to readers who might intend to look for new markets acquisition. The information and facts provided show a real example of an existing company's approach.

The article examines recent developments in the Russian retail trade and automobile industry as two very dynamic sectors of the Russian economy by stating and forecasting sales trends, presenting the main market participants, shares of business forms and deducing perspectives for Central and Eastern European investors. The article uses a standard methodology for description of industries and econometric models for sales forecasts and analysis. The article's main benefit for Central and Eastern European managers is its concise and up-to-date description of the both sectors of the Russian economy, which is not easily accessible for foreigners due to language barriers and marketing agency fees.

This paper aims at describing the issue of undeclared work in the Czech Republic and to explain the burdens it represents for the national economy. It also describes what measures can be undertaken in order to tackle undeclared work and uses some real-life examples to illustrate their outcomes. Undeclared work and the so-called "švarc systém" (the employer-employee relations with a person exercising the employer's normal activities not being an employee in legal terms but acting as an independent entrepreneur) are among the biggest issues on the Czech labor market nowadays. According to some estimations, the Czech state loses about five billion CZK annually in the form of uncollected taxes, unpaid revenues and health and social insurance payments. New changes to the Czech labor legislation that came into force in 2012 were envisaged to tackle undeclared work, reduce tax evasions, fight shadow practices on the labor market, and to prevent social deprivation and other threats for the society by shifting the competences to conduct random checks, and controls of firms and businesses were transferred to the State Labor Inspection Offices (SLIO). The changes in the legislation facilitated the identification of the undeclared work and penalizing of its bearers, which minimized the losses from the illegal employment.

This paper provides an overview of key stakeholders involved in food marketing to children in Europe and in the Czech Republic. It analyzes the role of the legislation as well as voluntary codes of conduct in the food industry. The industry part of the issue is also covered by an explanation of their role and position in the obesity issue. The form of food industry cooperation in the Food Chamber through a working group of involved companies is analyzed and an example of a corporate responsibility program is shown. The paper serves as a review of the issue for further exploration needs.

This article sheds light on the organizational context enhancing development of relational capabilities and examines the significance of relational capabilities for SMEs' financial and non-financial performance. The firm's relational capability is measured separately in customers' and suppliers' networks. This study is based on a sample of 67 SMEs from the five most internationalized industries in Slovenia. Research hypotheses are tested with linear regression models. The results support our prediction that fostering internal social capital, coupled with the usage of economic motivators, augments a firm's relational capability in a supplier network, which in turn is associated with better performance outcomes, both financial and non-financial. The results on relational capability in a customer network with respect to performance are less conclusive, indicating that vertical ties of internationally oriented SMEs (with suppliers and customers) are not of equal importance.

This article focuses on the increasing consumption trend of counterfeit goods in the countries of CEE and on the consequences for the global market. Counterfeiting is no longer typical only for the luxury market, where branding together with genuine source play a crucial role and the business of top luxury has been rising during the crisis. New categories of counterfeit goods are emerging constantly, including electronics and computer parts, pharmaceuticals, and even FMCG such as food, beverages or cosmetics. This article presents data from GfK research on attitudes towards counterfeit goods in Slovakia and puts it into the context of other CEE countries. It gives clear managerial implications on how to communicate the importance of originality, benefits for the consumer when consuming original goods and social marketing of ethical consumption. The managerial implications are specifically targeted for luxury businesses, on-line shops and FMCG producers.

This paper investigates whether the current economic slowdown in four CEE countries was accompanied by strong growth of private-label share as theory suggests. Unexpectedly, based on the data of Nielsen Retail Measurement Service, we prove that the private-label share grew relatively slowly, although all four countries had a large potential for growth of this share. We demonstrate that the key reason behind this development was probably the massive in-store promotions that were decreasing the price gap between private labels and branded products. The managerial implications of these findings for both manufacturers and retailers within the region are discussed.

This paper discusses the possible applications of PEST analysis with the use of methodology and data from The European Bank for Reconstruction and Development, and The International Bank for Reconstruction and Development/World Bank/International Finance Corporation. A practical example shows how to use the models when setting up a logistics service company in selected Central/Eastern European markets. The combination of PEST and EBRD/IBRD reports is seen as a viable tool for measuring market potential, its growth or decline, as well as the attractiveness, business opportunity and suitability of access into these countries.