Considerations concerning the analysis of the wage costs efficiency

In this article, the authors sought to study the efficiency of the staff costs and its reflection upon the main economic and financial indicators of a company. In the performed study, the application of the factor analysis models was made at the level of an industrial trading company the social object of which is manufacturing automotive subassemblies. The efficiency of the wage costs was monitored by the correlation between the average wage and the labour efficiency as well as by means of the indicators used for the general expression of their efficiency, such as: staff costs at an operating income, turnover or added value of 1,000 Lei. Moreover, highlighting the economic and financial consequences of their modification on the main key performance indicators of the company was considered. The conclusions that were drawn are useful for the management company for the substantiation of the decisions related to the improvement of the usage of the human resources, with direct positive consequences upon the reduction of the wage costs to 1,000 Lei and of the wage costs per product unit, as well as upon the profit increase.staff costs, efficiency, labour efficiency, average wage

The analysis of the enterprise social management based on dashboards and social indicators

This paper proposes a focus upon the aspects related to social indicators found in the social dashboards which are necessary for a good social enterprise management.The formal recognition of the need for social information took place in France, once with the promulgation of the social balance sheet law. It can be considered a dashboard with annual frequency, containing a number of indicators which allow a precise diagnosis of human resources and social aspects. The law of 1977 stated the social balance sheet by identifying aspects of human resources, with emphasis on social indicators.The paper presents in detail the milestones of emergence and evolution of social balance sheet, but also its objectives as a dashboard. The develop of social dashboards can be a guarantee of a good "social health” of the organizations in which they are perceived as a management tool because they simplify the Human Resources reporting and analysis

Analysis of the temporary evolution of the Romanian migration flows abroad, on migration routes

This article analyses the international migration of the Romanians based on their direction, within the extent of 1990-2008. The tendencies are being examined depending on the region of origin and of destination of the migrants and also depending on the residential environment of migrants. The study details the labour circular migration, divided on the fourth main courses. The authors try to conduct a literature review on the subject, emphasising the conclusions of different studies conducted for the considered period.International migration, migration routes, migration flows, circular migration, permanent migration, Romanians migration

Selecting strategic industries: international practice

Our paper pleads for the importance of strategic industries in the context of the renewed interest in industrial policy. Methods of identifying strategic industries are presented and accompanied by examples of industrial policy measures in countries as USA and Japan. The EU industrial profile is briefly presented so that a correlation between selection criteria of strategic industries and the EU strategic options could be drawn. These correlations represent a view at the EU level and differ from the ones that can be made at members’ country level, based on the common industrial strategy. Strategic sectors will remain a focus point on the industrial agenda of most countries but motivations and selection criteria are widely different

Considerations concerning the analysis of the wage costs efficiency

In this article, the authors sought to study the efficiency of the staff costs and its reflection upon the main economic and financial indicators of a company. In the performed study, the application of the factor analysis models was made at the level of an industrial trading company the social object of which is manufacturing automotive subassemblies. The efficiency of the wage costs was monitored by the correlation between the average wage and the labour efficiency as well as by means of the indicators used for the general expression of their efficiency, such as: staff costs at an operating income, turnover or added value of 1,000 Lei. Moreover, highlighting the economic and financial consequences of their modification on the main key performance indicators of the company was considered. The conclusions that were drawn are useful for the management company for the substantiation of the decisions related to the improvement of the usage of the human resources, with direct positive consequences upon the reduction of the wage costs to 1,000 Lei and of the wage costs per product unit, as well as upon the profit increase

FINANCIAL EDUCATION AND SUSTAINABLE ECONOMIC DEVELOPMENT IN ROMANIA

Financial education is necessary for people of all ages, because every day they make decisions that can have financial implications. Thus, whether we talk about earning money, choosing savings solutions, investments, loans or simply about spending money, financial education is the basis for making appropriate decisions. Good financial education of the members of a society will lead to more responsible behaviour, better management of each household’s financial resources and more economic stability. The complexity of today’s economic life poses new challenges for the average citizen, who needs to keep up with technological progress on the one hand and understand the opportunities and challenges in the financial field on the other. Information sources today are diverse and information users need to be able to interpret the messages they receive in order to make the right choices and avoid falling victim to fraud. The impact of financial literacy and education on economic development is major because a person without even basic financial knowledge will make wrong choices that will affect their household’s financial situation, with consequences for the national economy. This paper presents a number of aspects of the financial behaviour of Romanian citizens and includes a comparative presentation of the turnover of companies whose activity is “Gambling and betting activities” and the amounts spent by citizens on housing insurance and voluntary pensions

EXPENSES ANALYSIS BASED ON INFORMATION PROVIDED BY THE PROFIT AND LOSS ACCOUNT –COMPANY PERFORMANCE DIAGNOSIS STAGE

Expenses represent one component of the binomial that determines a company’s financial performance, the other component being the incomes. Diagnosing performance as part of the performance management has the purpose of providing managers with a feedback on previous actions and it acts as a basis for future decisions. Profit and loss account through its format, offers the possibility to analyze changes at expenses level and the evolution of their structure. This paper aims the analysis of the expenses of a dairy company based on information provided by the profit and loss account followed by the formulation of proposals and conclusions