Management of current assets in the context of increasing the Enterprise’s Profitability

In order to ensure the financial sustainability of companies under current economic conditions successful management of current assets is crucial. In practice it is quite often observed that the decisions related to current assets management in Latvian companies are made in the short-term aspects without making analysis. Efficient management of working capital is an essential condition of rise in profitability of a company.  Potentialities of working capital management in the context of efficient running of business have not been studied in Latvia up until now. The main aim of this article is to examine the effect of working capital on profitability of Latvian companies. The results of the research that has been performed in relation to Latvian enterprises confirm the existence of a correlation between components of working capital and profitability. The developed regression equations meant for forecasting profitability of a company applying working capital management methods can be used by Latvian enterprises. It follows that managers of an enterprise can forecast indexes characterizing profit, managing components of working capital and maintaining it on the optimum leve

ASSESSMENT OF THE IMPACT OF THE EU STRUCTURAL FUNDS ON BUSINESS IN LATVIA

The aim of the paper is to examine the administration of EU structural funds and their influence on business development. The main problem analysed in the paper is administration of the EU structural funds and their implementation in Latvia, the impact of the activities funded by the EU funds onto business development. In the research, information about the essence and policy of the EU structural funds is analysed, including information about the aspects of formation and influence of the EU structural funds, the basic business principles and factors influencing its development, as well as funding by the EU Structural Funds as an instrument for facilitation of business development. In the research, administration of the EU structural funds, the legal framework, and an evaluation of the funds’ administration in Latvia, the activities of the EU structural funds for business development in the programming period 2007–2013, influence of the priority “Business development” upon business development in Latgale region, as well as future prospects are discussed. The aim of the paper is to examine the administration of EU structural funds and their influence upon business development. The subject of the research is the impact of EU funds onto business development. In the paper, the following research methods are used: the descriptive or monographic method, aggregation of information, analysis of documentation, statistical analysis, graphical, and the expert method. According to the obtained results, the authors conclude that the activities funded by the EU Structural Funds provide support for enterprises for innovative business development, and increase competitiveness of enterprises, as well as overall business activity

ASSESSMENT OF THE IMAGE OF THE BORDER GUARD PROFESSION

Purpose and aim of the study: Based on an assessment of the image of the border guard profession, the research aims to develop proposals on the possibilities of managing the image with the aim of building an attractive image of and positive public opinions on the profession, contributing to sustainable competitiveness of the profession and attracting potential new employees to the service. Methodology: Information for the research was obtained from research papers on the formation and management of the image of a profession, relevant legal acts and surveys. Main findings: The research results revealed that the image of the border guard profession currently presented in the media and to the public is relatively positive, although there are increasingly frequent discussions on the low competitiveness of the border guard profession and other professions related to internal affairs in the labour market; consequently, the government services are beginning to lack personnel. Originality: To date, the image of the border guard profession has been little recognized and the potential for it has been little researched.Implications: The present research represents the basis for further research on developing the brand of the border guard profession.

THE NECESSITY OF AN EFFECTIVE STUDY APPROACH IN DOCTORAL EDUCATION

The aim of the paper is to analyse various research studies in regard to teaching strategy in PhD programmes within the Bologna education area and to give recommendations aimed at the development of educational process structuring in the third level of higher education. Novelty of the research – an analysis on the effective implementation of doctoral studies was conducted, emphasizing the implementation of them in Latvia and Armenia. Research methods – analysis of documents, logical construction and the graphical method. The paper discusses the effective approaches of PhD programmes to teaching strategies that are focused on formation of outcomes, such as interpersonal and leadership skills, project management and organization, research and information management, self-management and career development. Nowadays, it is highly important to remodel the educational strategy, targeted at the PhD student’s transferable skills acquisition, through avoiding unnecessary theoretical educational modules and academic training pressure

PROBLEMS OF VERIFYING THE AUTHENTICITY OF ASYLUM SEEKERS' DOCUMENTS AND IMPROVING THE IDENTIFICATION OF THESE PERSONS

The Republic of Latvia must be ready to implement the asylum procedure quickly and efficiently, improving the identification process, as the influx of asylum seekers into the EU may recur. The aim of the research is to study the asylum seekers identification procedure, the factors affecting it, and the possibilities for improving this procedure, to determine nature of the authentication process of documents presented by asylum seekers, to identify authentication problems and to find possible solutions. As a result of the research, the authors have evaluated the process of asylum seekers identification and developed proposals for its improvement, described the factors affecting the authentication of asylum seekers' documents and evaluated the possibilities to exclude these factors. The method of scientific induction, graphical method, document analysis, monographic or descriptive method are used in the research

CONCEPTUAL STUDENTS’ PERCEPTION OF PROBLEM-BASED AND PROJECT-BASED LEARNING IN A HIGHER EDUCATION INSTITUTION

The paper deals with conceptual students’ perception of problem-based learning and project-based learning in a higher education institution. Nowadays students have a different lifestyle, various opportunities to study and different learning habits, so traditional learning does not satisfy them. Teachers must look for more modern ways to transfer the information and to explain the topics and issues. And some of these ways are problem-based learning and project-based learning methods. The authors of the paper carried out the research, assessing the students’ point of view on these modern ways of learning. The research methods: literature analysis and comparative method, which allowed to clarify and to compare the differences of problem-based and project-based learning, and the questionnaire to get the students’ opinion about these methods used in a higher education institution

ANALYSIS OF FALSE DOCUMENTS DETECTED AT THE BORDER CONTROL OF EUROPEAN UNION MEMBER STATES AND THE PROSPECTIVE METHODS FOR THE DETECTION OF COUNTERFEITS

The subject of the paper "Analysis of False Documents Detected at the Border Control of European Union Member States and the Prospective Methods for the Detection of Counterfeits" is topical, as the verification of the authenticity of travel documents is the cornerstone of border controls; also, the interrelations between the techniques of producing false documents discovered in the EU Member States and the practical application of technologically new methods of document reproduction has not been extensively reviewed and evaluated in EU scientific literature and current information materials. Identity fraud is expensive: from bank accounts opened with false names to money laundering and all kinds of smuggling and terrorism. The endless variety of criminal activities gives false documents a high value. In addition, for 3 billion travelers worldwide, identity verification needs to be fast, unproblematic and effective. Due to the pressure on borders (time constraints and an increasing numbers of travelers) and the increasing complexity of modern document security, border control capabilities (officials and/or automated systems) are compelled to decide quickly and simply whether documents submitted are authentic or false. The operational execution of document verification capacity is crucial for the efficiency and security of border checks. The aim of the research is to study the quality of false documents discovered at European Union Member States’ border inspections and to identify prospective methods of their detection

THEORETICAL AND METHODOLOGICAL ASPECTS FOR THE DEVELOPMENT OF A CREATIVE ECONOMY IN THE CONTEXT OF THE FORMATION OF AN INNOVATIVE BUSINESS ECOSYSTEM

The aim of the study is to analyze the theoretical basis of creative economy and its development trends in the context of innovative business ecosystems formation. The scientific novelty of the research consists in solving the most important scientific and applied problem - further development of theoretical provisions of creative economy, ecosystems, as well as substantiation of the conceptual approach to the formation of innovative business ecosystem as a coherent management model. In the process of research, general scientific and special methods were used: scientific abstraction, deduction, analysis and synthesis, system and critical analysis, structural-logical, ascending from the abstract to the concrete, and statistical analysis. It has been substantiated that the priority development of creative economy as a strategic driver of sustainable development is the formation of an ecosystem conducive to the development of complex non-linear dynamic innovation processes, development of value propositions and value chain. The analysis of theoretical and methodological aspects of formation and functioning of ecosystems indicates the lack of development of this problem and the need to develop scientific approaches to their identification. Generalization of the results of theoretical analysis allowed us to group ecosystems according to the identified attributes into five main types. It was substantiated that a sustainable business ecosystem is a favorable environment for innovation to increase its value and contribute to the achievement of sustainable development goals. It is proposed to consider a sustainable "business ecosystem" as a coherent management model with established characteristics, which describes an aggregate system of business ecosystem modules that interact with each other and are focused on co-creation and co-production of value.

STAFF MOTIVATION PROBLEMS IN SMALL ENTERPRISES

One of the challenges a company manager constantly faces  is employee motivation. According to the authors' empirical experience, in small enterprises, an entrepreneur often has limited opportunities to hire a large number of employees, so the existing ones have to perform not only direct job responsibilities within their position or profession, but also other additional duties. The aim of the research is to study the problems and opportunities of employees motivation in small enterprises. Two surveys were conducted to achieve the aim. The survey of entrepreneurs examines the motivation of employees from the point of view of entrepreneurs, while the second survey examines the opinion of employees on motivation in small enterprises. As a result, the motivators are ranked from both points of view and compared

METODOLOGICAL ASPECTS OF THE FORMATION OF AN ENTREPRENEURIAL ECOSYSTEM

Purpose and aim of the study: The purpose of the study is to determine the theoretical and conceptual foundations of the process of forming an entrepreneurial ecosystem. The task of the study is to summarize the theoretical and methodological support of the studied issues and to substantiate the methodological approach to the formation of an entrepreneurial ecosystem.Design /Methodology / Approach: The study used general scientific and special methods: scientific abstraction, analysis and synthesis, induction and deduction, systemic and comparative analysis, structural and logical, an ascent from the abstract to the concrete, and the method of parametric estimates. The literature was selected using the databases Google Scholar, MDPI, Science Direct and Scopus.Main Findings: The analysis of the theoretical and methodological aspects of the entrepreneurial ecosystem and the formation of its structure shows that there is no systematic approach to determining the links and nature of interaction (including inter-level interaction) between different participants of the entrepreneurial ecosystem. It has been established that the structure of entrepreneurial ecosystems is unique and is able to provide systemic support for entrepreneurial activity by providing access to markets, finance, human and intellectual capital.Originality: The study reveals the process of formation of the entrepreneurial ecosystem in the aspect of developing a strategy for the entry of new enterprises into it.Implications: The results of the study make it possible to synthesize the ideas of territorial models of innovation and entrepreneurship, to carry out strategic positioning of the enterprise in the entrepreneurial ecosystem in order to provide attractive value propositions for consumers in the long term