The issues of enterprise growth in transition and post-transition period: the case of Polish 'Elektrim'

Case study of Polish company Elektrim illustrates the changing basis of growth of enterprises between the transition and post-transition periods. Elektrim grew primarily through conglomeration in the transition period. After the exhaustion of this mode of growth Elektrim has started to focus on a few core areas (telecoms, cables, energy). The strategic shift to telecommunications has been based on partnerships with foreign firms and it is likely that this will be the pattern in other areas. In this respect, the case of Elektrim shows the importance of internationalisation for the growth of enterprises in CEE. Based on the case study the paper draws several analytical issues: First, Elektrim's shift from conglomeration to focusing suggests that the institutional context, which drives firm strategy in post-socialist economies like Poland, is, perhaps, also changing. Second, in order to grow Elektrim is forced to enter into equity relationships and partnerships like with French Vivendi. This suggests that the possibilities for firm growth in post-socialist economies, like Poland, through generic expansion are still fewer when compared to growth based on mergers & acquisitions or different forms of alliances. Third, Elektrim's relationship with government is complex and refutes the simplified dichotomy of markets vs. governments. This raises the issue of to what extent post-socialist governments operate as a 'compensatory mechanism' on which firms like Elektrim can rely to grow. Fourth, the opening of the CEECs has led to relocations of EU and other MNCs into this region with the result that they are also transferring the oligopolistic competition from EU into new markets. The case of Elektrim shows how CEE companies and goverment regulations become factors in the oligopolistic competition between big EU companies. CEE companies and governments may use this competition to their advantage but also their limited bargaining powers may lead to outcomes unfavourable to them

Integration of Poland into EU global industrial networks: the evidence and the main challenges

In this paper, we attempt to identify the achievements of one decade of transformation of the Polish economy in effecting the integration of its manufacturing sector with those of the broader European and global economy, using the automotive industry as an illustrative example. We begin with a broad picture of the current situation in Poland, looking particularly at the motivations of EU-based investors. We then discuss the automobile industry, again examining the motives of foreign investors and the effects of policy on their behavior. Next, we examine the chief public and private actors in the integration process, with a particular focus on their roles in trying to push Poland's integration in the direction of high value added and high innovation. Finally, we briefly discuss the impact of Poland's accession to the EU on industrial networking, and then summarize our conclusions and suggest a research framework for testing the hypothesis (formulated on the basis of our observations of the Polish case) that the market orientation of a given industry, measured by the ratio of the trade balance in that industry to its total domestic output, depends among other things on ownership structure, with the domestically-owned sector tending to use locally developed technologies and the foreign-owned sector tending to transfer in technology from abroad

Organizacja krajowego systemu cyberbezpieczeństwa. Wybrane zagadnienia

The issues discussed in this paper concern cybersecurity. The threats present in cyberspace are becoming increasingly difficult to detect, and their prevention requires not only knowledge and special equipment, but also considerable financial resources. As such, the State has to put a great deal of effort (both institutional and financial) into cybersecurity measures directed against attacks. In order to meet the challenges connected with ensuring cybersecurity, the legislators have undertaken the regulation of such issues by adopting laws on the national cybersecurity system to allow the responsible authorities to properly secure cyberspace against threats. As part of the national cybersecurity system, lawmakers have imposed a number of obligations on public entities to ensure that information systems are resistant to actions which compromise the confidentiality, integrity, accessibility, and authenticity of processed data, and the related services offered by such systems. Appropriate obligations have also been exacted on the operators of essential services (OES), i.e. services key to maintaining critical social or economic activities which are included in the list of essential services.Podjęta w artykule problematyka dotyczy cyberbezpieczeństwa. Zagrożenia występujące w cyberprzestrzeni stają się coraz trudniejsze do wykrycia, a przeciwdziałanie im wymaga nie tylko wiedzy i sprzętu specjalistycznego, lecz także znacznych nakładów finansowych. W związku z powyższym państwo musi wkładać istotny wysiłek w działania zabezpieczające cyberprzestrzeń przed atakami (zarówno instytucjonalny, jak i finansowy). Wychodząc naprzeciw wyzwaniom związanym z zapewnieniem cyberbezpieczeństwa, ustawodawca podjął się uregulowania tego rodzaju kwestii, uchwalając ustawę o krajowym systemie cyberbezpieczeństwa, która ma pozwalać właściwym podmiotom na odpowiednie zabezpieczenie cyberprzestrzeni przed zagrożeniami. W ramach krajowego systemu cyberbezpieczeństwa nakłada się na poszczególne podmioty szereg obowiązków, które są związane z zapewnieniem odporności systemów informacyjnych na działania naruszające poufność, integralność, dostępność i autentyczność przetwarzanych danych lub związanych z nimi usług oferowanych przez te systemy. Ustawodawca stosowne obowiązki nałożył również na operatorów usług kluczowych, czyli usług, które mają kluczowe znaczenie dla utrzymania krytycznej działalności społecznej lub gospodarczej, wymienione w wykazie usług kluczowych

Digital exclusion as a hindrance to the emergence of the information society: the case of Poland

There is no doubt, that digital transformation (knowledge-based transformation) has emerged as the crucial megatrend in modern civilization. Artificial intelligence (AI), machines and autonomous vehicles, the Internet of Things (IoT), financial technology (Fin/Tech), smart investing and the analysis and processing of big data are the most recent manifestations of this trend, but not the only ones. All of these phenomena have led to the emergence and continuing development of the so-called ‘Information Society’ (IS), which refers to a new type of social organization that is clearly distinct from the earlier forms of society. In this new society, information and knowledge play an essential role in facilitating the Knowledge-Based Economy (KBE), where information is collected, transmitted and processed in a faster and more effective manner, and can subsequently be used to foster accelerated economic growth. Unfortunately, the problem of digital exclusion still occurs, also in Poland. The author in the conclusion comes to opinion that people who are digitally excluded find it much more difficult to overcome psychological rather than technical barriers to having access to the Internet and learning basic computer skills. This situation calls for urgent improvement. In the modern information society, a lack of basic knowledge about computers translates into partial or total digital illiteracy and makes it difficult to perform a range of everyday tasks. It is therefore essential in Poland to prevent digital exclusion. People who do not use the Internet are socially and professionally limited, or virtually handicapped, which results in quantifiable economic losses. This translates to lower creativity and innovativeness and reduced revenue of state budget, and impedes the competitiveness of the economy and the development of a post-modern, post-industrial social model. The main research goal is to show the causes of the phenomenon of digital exclusion in Poland and ways to counteract it. In the course of the research, the most frequently used method was causal and effect analysis as well as institutional and legal analysis. Elements of the decision-making, historical, comparative and statistical methods were also used

The Influence of Industry 4.0 on Financial Services: Determinants of Alternative Finance Development

Digitalization and virtualization in the era of the Industry 4.0 adjust the nature of finance and interaction between market participants. Many financial services are transferred to the virtual plane allowing the development of alternative finance – raising funds and carrying out borrowings through online platforms. Based on the analysis of the influence of factors on the alternative finance development, the paper formulates five hypotheses on the dependence of the amount of financial resources attracted through online platforms on the quantitative characteristics of the relevant factors. The goal is to study the factors of online financing service as an alternative to traditional financial intermediaries (including banks) using the method of correlation analysis. As the quantitative parameters of each factor, the use of commonly accepted indices and individual relative indicators is proposed. The results of the study showed 1) the significant impact of the country's economic development on the degree of the alternative finance development; 2) the strong direct influence of financial inclusion and the level of innovation of the country on the volume of alternative finance; 3) the lack of direct influence of information technology and the absence of the regulatory influence of the state on the development of the alternative finance market