Why should SME adopt IT enabled CRM strategy?

Recent trends of fast adoption of CRM, whether as a philosophy, a strategy, an aid to the general marketing effort and mix, or merely as a fashion; as every body else is doing it; is driven by a clear acknowledgement and recognition that long-term relationships with customers are one of the most important assets of an organization and that information-enabled systems must be developed that will give the organization some form of ownership, that is: 'customer ownership'.CRM, SME, IT, e-tools, strategy

A Cram of E-Learning Advantages and Disadvantages

In today’s society, following the exponential development of ICT, the classical method of learning has undergone numerous changes. The emergence of the Internet has accelerated these changes due to its capacity to offer multiple possibilities of access to information, instruction, all based on dynamic technologies, transparency and open dialogue. It can be well said that the Internet is turning into an arbiter for the access to education and culture, while eLearning is a new form of education that suggests itself as an alternative with a view to the needs of continuing training and knowledge. The most widely known results of this change are obvious in two learning models mediated by ICT: eLearning and Computer-assisted learning. As well as the classical models, these models imply an efficient learning process based on well-grounded cooperation and communication activities. Moreover, these models require appropriate technology and equipment. It is also important for the eLearners to have knowledge of the new technologies. The great advantage of eLearning is the abolition of formal barriers by eliminating distances, by introducing temporal flexibility and the creation of a new type of student-teacher relationship. The authors have asked the question whether the greatest advantages of this new way of learning and refreshing will still hold for those of a higher educational and financial status, thus deepening unequal opportunity of chances. A team of members of the teaching staff of "Alexandru Ioan Cuza" University of Iasi (UAIC) and the Academy of Economic Studies of Bucharest (ASE) have carried out a survey among the students of the two institutions regarding the students' perceptions, expectations and attitudes related to eLearning and the identifi-cation of the profile of the student with access to this form of education. The paper presents some of the most important findings of this research.e-learning, Internet, survey, educational process

The Efficiency of the On-line Samplings

The rapid growth of the technology from the last decades led to the collateral development of many other sciences. One of the most important inventions was the Internet and the web technologies with a tremendous impact on the society. Statistics, as a social science, at its turn in ongoing development has only to gain from that. Lately, the on line sampling technique greatly developed. Each web site of a certain importance includes in various forms of the questionnaires. These vary from a mere question to lengthy ones and are a part of daily life of those who access the World Wide Web. The main question is how feasible are the results derived from these samplings as the main issue is the representativiness. A nonrepresentative sampling is a futile one. It is a more convenient solution to post a question on the web page and to wait for an answer from the page’s visitors? But how representative is this answer for the target audience? The present paper aims to list the on-lone methodology as well as analyze their efficiency through presenting their advantages and drawbacks.internet, on-line survey, selective research, questionnaire, error

Modelling expected shortfall using tail entropy

Given the recent replacement of value-at-risk as the regulatory standard measure of risk with expected shortfall (ES) undertaken by the Basel Committee on Banking Supervision, it is imperative that ES gives correct estimates for the value of expected levels of losses in crisis situations. However, the measurement of ES is affected by a lack of observations in the tail of the distribution. While kernel-based smoothing techniques can be used to partially circumvent this problem, in this paper we propose a simple nonparametric tail measure of risk based on information entropy and compare its backtesting performance with that of other standard ES models

Using High-Frequency Entropy to Forecast Bitcoin’s Daily Value at Risk

In this paper we investigate the ability of several econometrical models to forecast value at risk for a sample of daily time series of cryptocurrency returns. Using high frequency data for Bitcoin, we estimate the entropy of intraday distribution of logreturns through the symbolic time series analysis (STSA), producing low-resolution data from high-resolution data. Our results show that entropy has a strong explanatory power for the quantiles of the distribution of the daily returns. Based on Christoffersen’s tests for Value at Risk (VaR) backtesting, we can conclude that the VaR forecast build upon the entropy of intraday returns is the best, compared to the forecasts provided by the classical GARCH models

Labor Relations and Social Dialogue: Measurement and Diagnosis Instruments

Social dialogue and tripartism play an important role in promoting and strengthening fundamental principles and rights at work, promoting job creation and expanding social protection. In the context of the severe challenges of globalization, a growing number of developing countries are recognizing the need to faster dialogue, partnership and participatory approaches to decision-making. Thus, social dialogue becomes a prerequisite for efficient corporate governance and means to attain national economic and social objectives and to contribute to poverty reduction policies. We shall propose a diagnosis and analysis system in order to measure and monitor the evolution of the industrial relations and social dialogue

Labor Relations and Social Dialogue: Measurement and Diagnosis Instruments

Social dialogue and tripartism play an important role in promoting and strengthening fundamental principles and rights at work, promoting job creation and expanding social protection. In the context of the severe challenges of globalization, a growing number of developing countries are recognizing the need to faster dialogue, partnership and participatory approaches to decision-making. Thus, social dialogue becomes a prerequisite for efficient corporate governance and means to attain national economic and social objectives and to contribute to poverty reduction policies. We shall propose a diagnosis and analysis system in order to measure and monitor the evolution of the industrial relations and social dialogue

Metcalfe's law and herding behaviour in the cryptocurrencies market

In this paper, the authors investigate the statistical properties of some cryptocurrencies by using three layers of analysis: alpha-stable distributions, Metcalfe’s law and the bubble behaviour through the LPPL modelling. The results show, in the medium to long-run, the validity of Metcalfe's law (the value of a network is proportional to the square of the number of connected users of the system) for the evaluation of cryptocurrencies; however, in the short-run, the validity of Metcalfe’s law for Bitcoin is questionable. As the results showed a potential for herding behaviour, the authors then used LPPL models to capture the behaviour of cryptocurrencies exchange rates during an endogenous bubble and to predict the most probable time of the regime switching. The main conclusion is that Metcalfe’s law may be valid in the long-run, however in the short-run, on various data regimes, its validity is highly debatable

Metcalfe's law and log-period power laws in the cryptocurrencies market

In this paper the authors investigate the statistical properties of some cryptocurrencies by using three layers of analysis: alpha-stable distributions, Metcalfe’s law and the bubble behaviour through the LPPL modelling. The results show, in the medium to long-run, the validity of Metcalfe's law (the value of a network is proportional to the square of the number of connected users of the system) for the evaluation of cryptocurrencies; however, in the short-run, the validity of Metcalfe’s law for Bitcoin is questionable. According to the bidirectional causality between the price and the network size, the expected price increase is a driver for more investors to join the Bitcoin network, which may lead in the end to a super-exponential price growth, possibly due to a herding behaviour of investors. The authors then used LPPL models to capture the behaviour of cryptocurrencies exchange rates during an endogenous bubble and to predict the most probable time of the regime switching. The main conclusion of this paper is that Metcalfe’s law may be valid in the long-run, however in the short-run, on various data regimes, its validity is highly debatable