The model for evaluation of corporate strategic changes in the context of climate change: plywood manufacture

The paper presents the model for evaluation of corporate management measures aimed at solving tasks related to climate change challenges (UN 1998; EP 2009; EC 2013) faced by enterprises and inevitably leading to corporate strategic changes. In a detailed yet concise manner, the paper analyses the model for evaluation of corporate strategic changes and specifies techniques for its application focusing on the following proposed criteria: the market share; financial capacity; business development potential; product competitiveness; and productivity. The paper reveals the benefit of the use of the proposed model for corporate strategic changes. Greater possibilities are created to rationalise the process of corporate strategic changes and the use as well as development of human, material and financial potentials, which lead to greater competitiveness of an enterprise. The model guides to directions and actions to be taken in order to continue increasing effectiveness of an enterprise in the context of climate change objectives. The evaluation model suggested by the author is also analysed according to flexibility of proposed techniques, the characteristics of which can be modified and adjusted depending on specifics of the changing business environment. This allows ensuring and promoting competitiveness of an enterprise while pursuing the climate change challenges (UN 1998; EP 2009; EC 2013) set for businesses. First published online: 08 Jul 201

Įmonių restruktūrizavimo tikslų analizė

Restructuring is one of the essential ways of strategic management solving problems of companies’ business extension and efficiency increase under the clearly defined time perspective. Typically, a wide spectrum of set of measures and methods is applied and sought to implement at least a several goals when restructuring a company.Analysis of goals of restructuring companies in European Union and US shows, that business macroeconomic environment is one of most significant factors determining the company’s restructuring goals. Restructuring companies in the countries of these different continents (EU and US), the following goals were distinguished as the dominating ones: to reduce excess of the capacity (US – 37%), to extend the market (EU – 32.4%, US – 36%), to maintain the current market positions (EU – 44.4%).The regularities characteristic to the structure of goals of companies’ restructuring in the explored four economy sectors of Lithuania are following: for the sector of financial service – increase of liquidity of assets (especially when restructuring state banks in the period of 2001–2002), implementation of new products, market extension; for the insurance services – market extension, maintenance of market position, implementation of new products; for the energy resources – increase of liquidity of assets (often implementing modem technologies), reduction of debts of residents and municipalities (especially for district heating companies), management improvement; for the beer industry – market extension, implementation of new products (especially in the period of 1997–2000), increase of liquidity of assets.Looking to the explored Lithuanian financial, insurance services, energy resources sectors and the beer industry as to a whole complex, the dominating goals of companies’ restructuring in 1998–2002 were the following: increase of liquidity of assets (26%), market extension (21%), implementation of new products (20%). Lithuanian companies’ restructuring, from the point of view of the goals structure, becomes alike to those of countries with efficiently functioning market. This is one of outcomes of Lithuanian economy integration to EU and other economic structures of world.Determined regularities of companies’ restructuring goals in Lithuania and other countries as well as tendencies of revealed the goals’ structure may be useful for business of Lithuania when taking over the great experience of companies restructuring in other countries.Straipsnyje nagrinėjami įmonių restruktūrizavimo Europos Sąjungoje ir JAV tikslai, tiriami Lietuvos finansinių, draudimo paslaugų, energijos išteklių, alaus sektoriuose vykdomo įmonių restruktūrizavimo procesai. Atskleidžiama užsienio kapitalo įtaka restruktūrizuojant šalies įmones. Remiantis užsienio ir Lietuvos įmonių restruktūrizavimo raidos ypatumais, pabrėžiami įmonių restruktūrizavimo aspektai, lemiantys Lietuvos įmonių konkurencingumą bei turintys įtakos Lietuvos verslo plėtrai globalizacijos ir integracijos sąlygomis

Peculiarities of competitiveness assessment of airlines

The current state of the aviation market is characterized by intense competition and rapid change, brought about by deregulation, rapid technological development, industrial consolidation, and innovation. One of the key players in the aviation sector is airlines. In such a competitive environment, airlines that can adapt and change in the market gain a competitive advantage over other airlines, which is key to success. This article is aimed at understanding the concept behind competitive advantage, identifying the main business models in the commercial airline industry as well as finding the optimal competitiveness evaluation method and using it to assess the airline competitiveness. Article in English. Oro linijų konkurencingumo vertinimo ypatumai Santrauka Dabartinei aviacijos rinkos būklei būdinga intensyvi konkurencija ir greiti pokyčiai, kuriuos sukėlė reguliacijų panaikinimas, sparti technologijų plėtra, pramonės konsolidacija ir inovacijos. Vienas iš pagrindinių aviacijos sektoriaus veikėjų yra oro linijos. Tokioje konkurencinėje aplinkoje oro linijos, galinčios prisitaikyti ir keistis rinkoje, įgyja konkurencinį pranašumą prieš kitas oro linijas, o tai yra raktas į sėkmę. Šio straipsnio tikslas yra suprasti konkurencinio pranašumo sampratą, identifikuoti pagrindinius verslo modelius komercinių oro linijų pramonėje bei rasti optimalų konkurencingumo vertinimo metodą ir jį pritaikyti oro linijų konkurencingumui įvertinti. Reikšminiai žodžiai: aviacija, oro linijos, oro linijų verslo modeliai, konkurencinis pranašumas, konkurencingumo vertinimo metodai, oro linijų konkurencingumo vertinimas

Predictors of Patellofemoral Pain Applying Full Weight Bearing Kinematic MRI

Purpose. To determine the associations among PFM, trochlea groove morphology, femoral and patellar rotation and to determine which measures best predict patellofemoral pain (PFP). Material & Methods. Knees of 51 female patients with PFP and 26 healthy female volunteers as control group were analysed with kinematic magnetic resonance imaging and full weight-bearing. The bisect offset (BSO), patellar tilt angle (PTA), femoral rotation angle (FRA), patellar rotation angle (PRA) were measured in steps of 10° between 0° to 50° of knee flexion. Static measures of Insall-Salvati ratio (ISR), sulcus angle (SAB & SAC) and lateral trochlear inclination at bone and cartilage levels (LTIB & LTIC) were performed and compared. Results. The SAB & SAC were higher and the LTIB & LTIC were lower in patients compared to volunteers. BSO, PTA, PRA and medial FRA were higher in the PFP group at all flexion angles. A multiple logistic regression analysis demonstrated that increase of FRA and SAB by 1° increased the likelihood of PFP 5.6 times and 1.6 times respectively, decrease of PRA by 1° decrease PFP likelihood by 1.7 times. Conclusion. These results revealed FRA, SAB and PRA to have best predictive value for patellofemoral pain. Current findings can help to assess the complexity of predisposing factors for PFP in practice

Experimental investigation of clay-straw building finishing layer under different drying conditions

This manuscript represents investigation of six different clay mixtures under variable drying conditions, namely: bright yellow clay (typical for Lithuania), brown clay (Lithuania Sergėnai district), mixture of different clays, white Spanish clay, clay mass which is resistant for thermal coldness (with synthetic cardigan) and Lithuanian coarse clay with granite additives. Drying process was provided imitating natural drying process and fast drying in drying oven at 110 C°. The main idea of this study – imitate clay and clay-straw buildings drying process and to determine which of used clay types had smallest volumetric and linear deformations. Volumetric and linear deformations for clay-straw buildings is one of the most important factors evaluating cracking in this type of buildings. To reach this purpose six tiles of different clay types were used. Before drying stage water content, plasticity, and liquid limits index, respectively was determined for all types of clay. All clay tiles volumetric and linear deformations before and after drying process were measured with specialized view analysis program in order not to damage samples’ form. According to the obtained results a clay type whith the smallest deforamations (volumetric and linear) was found. With the smallest volumetric and linear deformations clay-straw building is not only environmental friendly, sustainable and green, but it does not require a lot of maintenance during building life time

The interactions and trade-offs of sovereign Credit Default SWAP (CDS) and bond spreads in a dynamic context

This study provides a dynamic analysis of the lead-lag relationship between sovereign Credit Default Swap (CDS) and bond spreads of the highly indebted southern European countries, considering an extensive time sample from the period before the global financial crisis to the latest developments of the sovereign indebtedness in the euro area. We employ an integrated price discovery methodology on a rolling sample, with the intention to shed light on whether the CDS spreads can trigger rises in bond spreads, and the relative efficiency of credit risk pricing in the CDS and bond markets. In addition, we attempt to depict the evolution of the price discovery process regarding the direction of influence from one market to the other. The rolling window analysis verifies that the price discovery process evolves over time, presenting frequent alternations concerning the leading market. We find that during periods of economic turbulence the CDS market leads the bond market in price discovery, incorporating the new information about sovereign credit risk faster and more efficiently than the bond market does. This regularity should be seriously considered by private and public participants as they make investment and funding decisions. Therefore, the motivation of our paper is to identify the dominant market in terms of price discovery during a period of economic turmoil and, thus, to provide insights for decision making to investment bodies and central governments

Strategies for sustainable socio-economic development and mechanisms their implementation in the global dimension

The authors of the book have come to the conclusion that it is necessary to effectively use modern approaches to developing and implementation strategies of sustainable socio-economic development in order to increase efficiency and competitiveness of economic entities. Basic research focuses on economic diagnostics of socio-economic potential and financial results of economic entities, transition period in the economy of individual countries and ensuring their competitiveness, assessment of educational processes and knowledge management. The research results have been implemented in the different models and strategies of supply and logistics management, development of non-profit organizations, competitiveness of tourism and transport, financing strategies for small and medium-sized enterprises, cross-border cooperation. The results of the study can be used in decision-making at the level the economic entities in different areas of activity and organizational-legal forms of ownership, ministries and departments that promote of development the economic entities on the basis of models and strategies for sustainable socio-economic development. The results can also be used by students and young scientists in modern concepts and mechanisms for management of sustainable socio-economic development of economic entities in the condition of global economic transformations and challenges

Selecting rooftop solar photovoltaic modules by measuring their attractiveness by a categorical-based evaluation technique (MACBETH): the case of Lithuania

The paper examines the challenges related to solar photovoltaic (PV) development with a pivotal focus on the impacts of the dynamics of the relevant markets and technological advancements in the solar industry. In this regard, household investments into rooftop solar PV modules as one of the available incentives are investigated based on a conducted experiment in Lithuania for selecting rooftop solar PV systems for the prosumer by measuring the attractiveness of solar PV modules by a categorical-based evaluation technique (MACBETH). While a variety of multiple-criteria decisionmaking (MCDM) methods used by scholars have their specifics in terms of application and the divergence of results, the findings of the conducted experiment reveal MACBETH’s utility when based upon qualitative judgments about the differences in the attractiveness of offers, quantifying their relative value and accordingly ranking the latter. The findings also confirm MACBETH’s potential to be used not only to solve operational and tactical tasks but also for strategic objectives of private and public organizations aiming at competitive and sustainable development in short and long-term contexts. Keywords: solar photovoltaic module; multiple-criteria decision-making; renewable energy; MACBETH; management