...România , formerly also spelled Roumania and Rumania, is a country located between Central Europe and Southeastern Europe, bordering the Black Sea. Romania shares a border with Hungary and Serbia to the west, Ukraine and Moldova to the northeast and east, and Bulgaria to the south. At 238,391 square kilometres (92,043 sq mi), Romania is the ninth largest country of the European Union by area, and has the seventh largest population of the European Union with 20,121,641 people (20 October 2011). Its capital and largest city is Bucharest – the sixth largest city in the EU. Demographic Romania: According to the 2011 census, Romania's population is 20,121,641. Like other countries in the region, its population is expected to gradually decline in the coming years as a result of sub-replacement fertility rates and negative net migration rate. In October 2011 Romanians made up 88.6% of the population. The largest ethnic minorities are the Romanians, who make up 89% of the population, ,Hungarians who make up 6.5% of the population and Roma, who make up 3.2% of the population, the 1.3% are from the other countries. Climate Romania: Owing to its distance from the open sea and position on the southeastern portion of the European continent, Romania has a climate that is temperate and continental, with four distinct seasons. Romania enjoys four seasons, though there is a rapid transition from winter to summer. Autumn is frequently longer, with dry warm weather from September...
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...Romania Research Romania, the official language, is derived from Latin; it is in the same linguistic family as Italian, French, Spanish, and Portuguese. Indeed, it is alleged that a fluent speaker of Italian can communicate fairly well with the Romanians if the speaker knows the Italian dialect used around Genoa. Some 90 percent of the population belongs to the Romanian Orthodox Church. The remainder of the population is Roman Catholic, Jewish, Calvinist, Islamic, or atheist. Romania is on Central European Time, two hours ahead of Greenwich Mean Time (G.M.T. + 2) and seven hours ahead of U.S. Eastern Standard Time (E.S.T. + 7). Cultural Orientation The more educated the participants are, the more they will use objective facts to define the truth. Subjective feelings are still strong, but faith in an ideology, other than freedom, does not cloud the issue of truth. As the movement toward freedom and privatization advances, it puts the responsibility for decision making on the shoulders of the individual. The individual may, in turn transfer this power to the group as a whole or to selected experts within the group. Business practices Appointments should be made well in advance. Appointments may be requested by mail. Business letters should be sent in English. Not only do Romanians expect to translate foreign letters, but such a letter is accorded more respect and attention than one written in Romanian. An interpreter will be necessary for the meeting unless...
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...8 elements of Culture in Romania Geography —Romania is located in Central Europe, bordering the Black Sea, the neighbors are Bulgaria, Ukraine and Hungary. The Danube is the second longest river after Volga in Europe, it originates in Black Forest in Germany, and flows through 9 European countries: Germany (7.5%), Austria (10.3%), Slovakia (5.8%), Hungary (11.7%), Croatia (4.5%), Serbia (10.3%), Bulgaria (5.2%), Moldova (1.6%), Ukraine (3.8%) and Romania (28.9%). —Conclusion: Romania is a Central European country, and has close connection with neighbors (both Western and Eastern European countries). Ethnic Group —About ethnic group in Romania, the main group is Romanian, which is 89.5% of whole population in Romania. The second one is Hungarian which is 6.6%, Roma is the third one that is 2.5%, the next two groups are German and Russian which are 0.3% and 0.2% respectively. There are some other minorities that is 0.4%. —Conclusion: According to information of ethnic group in Romania, this obviously is a diversified country that includes various minorities. Language —About 89% of the people are ethnic Romanians, a group that-in contrast to its Slovakian or Hungarian neighbors-traces itself to Latin-speaking Romans, who in the second and third centuries A.D. conquered and settled among the ancient Dacians, a Thracian people. As a result, the Romanian language, although comtaining elements of Slovakia, Turkish and other languages, is a Romance language related to...
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...Power Distance in Romania Romania is among the 10% of the most power distant countries, more precisely it scores 90, which is the 7th position regarding the most power distance societies in the world as for instance Latin American countries and countries of South-eastern Asia and Eastern Europe. This is underlined by the fact that the country is extremely centralized: 2/3 of all foreign investments go into the capital city Bucharest where also 80% of all financial potential is concentrated. There are a lot of backgrounds to the high PDI in Romania. The main reason is that the Romanian culture with its emphasis on authority figures, subjugation to the Communist Party elite has bred a legacy of high power distance in the populace and in Romanian managers and workers. Big PDI means that Romania has a big power separation between the rich and poor which are also known as high power distance between people. Basically if you are born into a family with power you will have a high possibility to keep that power but if you’re born into a family who is poor, it is really hard to move up and you will continue to be poor. Even if nowadays we can observe a decreasing trend in the power distance of Romania, I think it’s still very high. Current situation leads to the numerous negative consequences. For example, the majority of salary-earning workers have open-ended working days or injurious conditions of work. The huge discrepancy between the less and the more powerful people leads...
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...Nokia’s New Home in Romania 1 The rapid move in the telecommunications technology world has pushed many of top cellular leaders to examine the ever-increasing challenge of efficiency, effectiveness and the cost conscience choices of product supply and demand. Business managers must consider the best markets for creating new products to meet customer’s needs, while remaining competitive and fostering valued employee and community connections. Nokia, one of the world’s largest cellular providers with an estimated 49,560 permanent employees (as of 4/1/07), national research centers and distribution sites globally; opted to begin yet another production and distribution site in Transylvania, Romania (Corporate Responsibility, 2007). The 88 million dollar investment was set before John Guerry a 36-year old Texan in charge of the plant. His challenge was to select, train and retain adequate employees with a skill based work environment to ensure that a multinational competitor would not impede on the best workers (Ewing, 2009). The reasons why Romanians are motivated to obtain a job at Nokia’s new factory begin with the well regarded technical university where engineering students can begin their career with a globally secure company. A repressive communist dictatorship has left a blaring mark of impoverished conditions for the city of 400,000 people. Many of the locals overwhelmingly seek the opportunity to gain skills and advancement to improve their current living circumstances...
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...December 2011 Mini Country Report/Romania under Specific Contract for the Integration of INNO Policy TrendChart with ERAWATCH (2011-2012) Mini Country Report Thematic Report 2011 under Specific Contract for the Integration of INNO Policy TrendChart with ERAWATCH (2011-2012) December 2011 Author: Marina Ranga, Stanford University Table of Contents Preface ii Executive Summary iii 1. Innovation policy trends 1 1.1 Trends and key challenges for innovation policy 1 1.2 Innovation governance 7 1.3 Recent changes in the innovation policy mix 12 1.4 Internationalisation of innovation policies 15 1.5 Evidence on effectiveness of innovation policy 16 2. Innovation policy budgets – an overview 19 2.1 Trends in funding of innovation measures 19 2.2 Departmental and implementing agency budgets for innovation policies 2 1 2.3 Future challenges for funding of innovation policy 22 3. Thematic report: Demand-side innovation policies 23 3.1 Trends in the use of demand-side innovation policies 24 3.2 Governance challenges 30 3.3 Recent demand-side innovation policy measures 3 1 3.3.1 Sectoral specificities 3 1 3.3.2 Good practice case 3 1 Appendix A : Plan to increase the efficiency and effectiveness of RDI expenditure (Summary of provisions) 32 Appendix B : Recommendations of World Bank’s Functional Review for the reform of the Romanian RDI...
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...INNO NATOUR. Lesson learnt from Innovation in Nature Based Tourism Services Contact: Faculty of Economics and Public Administration „Stefan cel Mare” University of Suceava Universităţii str., no. 13, Building H 720229 SUCEAVA, ROMANIA Phone: (+40) 230 216147 ext. 294 Erasmus IP web site: www.innonatour.usv.ro Faculty web site: www.seap.usv.ro University web site: www.usv.ro 2012 Subject to the provisions of relevant collective licensing agreements, no reproduction of any part may take place without written permission of the copyright owners. CONTENTS INTRODUCTION............................................................................................................................................ 5 DESCRIPTION OF THE PROJECT.............................................................................................................. 8 STUDENTS OF THE 20112012 ERASMUS IP ...................................................................................... 9 LECTURERS, TUTORS AND EXPERTS OF THE 20112012 ERASMUS IP ................................. 10 RESULTS OF THE ERASMUS IP INNO NATOUR 20112012......................................................... 19 FINAL REPORTS OF THE WORKING GROUPS .................................................................................. 20 INDIVIDUAL POST CASE STUDIES OF THE STUDENTS ................................................................. 44 CONCLUSIONS AND IMPLICATIONS ......................................
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...Bessarabia or Basarabiia. Region bounded by the middle and lower Dnister River in the north and east, the Prut River in the west, and the mouth of the Danube River and the Black Sea in the south. The area of the region is 45,600 sq km. Until the beginning of the 19th century the name Bessarabia referred only to the southern part of Bessarabia; later it was used for the entire region. Today Bessarabia is a part of Moldova, except for the northern part (the Khotyn region) and the southern part (the Akkerman region), which are settled by Ukrainians and comprise 14,400 sq km of the territory of Ukraine. Because of its location between Ukraine and Romania and between Poland and the Balkans, Bessarabia has always served as a route between the west and the east. This fact has influenced its history and the composition of its population. Southern Bessarabia is strategically important, as it controls the mouth of the Danube River and access to the Black Sea. Geography and economy. Bessarabia is a continuation of the Pokutian-Bessarabian Upland and the Black Sea Lowland. It consists of Tertiary strata (older strata appear only at the Dnister River) and is covered mainly by chernozem and loess. Except in its southern part, Bessarabia is hilly. From north to south it can be divided into four natural regions: (1) the Khotyn region, which reaches 465 m in elevation and is covered with beech forests; (2) the Beltsi Plain, a woodless, chernozem plain with an elevation up to 180–200 m; (3)...
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...The main business activity of the company will be to provide tourists with trained guides for hiking or climbing and mountaineering in the Romanian mountains. Its purpose, besides profit, will be to create a positive attitude towards Romania from foreign and local tourists, and to develop a prosperous tourism in the Romanian mountains while preserving and respecting the natural environment. It will be a family business, with its founders as its owners. We have worked as guides for 10 years and know just about all there is to know regarding the mountains of Romania, from paths to chalets, weather, housing, food and local population. We have worked in close cooperation with the mountain rescue association, so we are aware of the importance of applying safety measures during the trip. Our company will have its headquarters in Sinaia. There will also be offices in other popular tourist locations at the mountains. In the beginning there will only be offices in Sinaia, Busteni, Predeal and Poiana Brasov. If business is successful, we will open other offices where it is profitable. Each office will have a director, and the General Director will be at the headquarters. Each local office will have a number of available guides, according to demand, a sales person and a person responsible for other logistic activities (equipment, food, weather forecast, mountain rescue contact etc). One of the guides, the most experienced or chosen by the director, will be the local manager...
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...Romania has a developing, upper-middle income market economy, the 11th largest in the European Union by total nominal GDP and the 8th largest based on purchasing power parity.[7] Romania entered the 1990s a relatively poor country by European standards, largely a result of the failed economic policies of Nicolae Ceauşescu in the 1970s and of the failures of privatization in Romania during the 1990s, which decreased the GDP by almost 50% and ruined the industry because of corruption.[8] However the collapse of the Communist regime in 1989, reforms in the 2000s (decade) and its recent entry to the European Union have led to an improved economic outlook. Romania has experienced growth in foreign investment with a cumulative FDI totaling more than $100 billion since 1989,[9] and has been referred to as a "Tiger" due to its high growth rates and rapid development.[10][11] Until 2009, Romanian economic growth was among the fastest in Europe (officially 8.4% in 2008 and more than three times the EU average).[12][13] The country is a regional leader in multiple fields, such as IT and motor vehicle production,[14][15] and is expected to join the Eurozone by 2014.[16] Bucharest, the capital city, is one of the largest financial and industrial centres in Eastern Europe. Romania was heavily affected by the global financial downturn and gross domestic product contracted by 7.2% in 2009,[17] forcing the government to enact harsh austerity measures and borrow heavily from the IMF.[18] The country's...
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...consulting international will be entering a 50/50 partnership with Setex consulting international, a Romanian integral investment company that provides tailored expert business services for global and national businesses who wish to extend business to the Romanian market and other foreign countries. TSI international partnerships with Romania will help develop the country's weak rural agricultural infrastructure. By providing 50% of the capital the government will have a vested interest in firm’s success. Our company will provide modern agricultural training techniques and machinery to the rural area citizens of Romania. The bigger strategy will be to drive revenue through export to the Eastern European region and eventually the members of the European Union. As a country that was previously a communist nation the minds of rural citizens will easily buy into the strategy where they see clear authority and a mode to enhance their standard of living. Launching a global joint venture can present a generous amount of risks that require analysis. The potential risks of TSI consulting opening and maintaining a partnership business venture in Romania with global ambitions will be vast and complex. To begin, TSI international will analyze numerous categories of risks ranging from legal to financial to physical. With the risks identified, the company can identify how it can manage each risk. Simply identifying and managing risks is not enough. The company must also build a strategic planning...
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...Communism Accounting Practices and The Effects of Adapting IFRS for SMEs Abstract Romania, located in southeastern European, was heavily influenced by the Russian Soviet Union as a socialist republic between 1947 and 1989. With becoming a capitalist country in 1989, its accounting practices began its transformation. The purpose of this paper is to analyze Romania accounting practices post its revolution. The paper discusses three major accounting practice conversions made in Romania post communism. Included in this paper are comparisons of previous practices and the implications presented within each practice; along with the pros and cons and many challenges that are associated with the adaptation of International Financial Reporting Standards (IFRS) for small and medium-sized entities (SMEs). Romania’s Post Communism Accounting Practices and The Effects of Adapting IFRS Romania is country located in southeastern Europe and is the ninth largest country of the European Union. Between 1947 and 1989, Romania was controlled by the Russian Soviet Union and enforced by communism. Today, reported in its 2011 Census, Romania’s currently has a population of 21,390,000 people and a gross domestic product (GDP) of $179,793,512,340. Though now considered as an upper-middle income country by the World Bank, Romania has faced many transitions from communism to capitalism over the course of the past three decades. Along with...
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...Student Name : Victor Belinschi Student Number: 10022233 Course Title: MBA in Business Management Lecturer Name: Dr. PJ Paul Module/Subject Title: International Management Assignment Title: PESTEL Analysis Nr. of Words: 3231 (Excluding References) I have chosen to write a PESTEL analysis for LIDL (the food retailer from Europe) in the context of a potential expansion to Moldova, my home country. This particular industry was chosen because there are no major food retailers in our country besides the Metro Cash & Carry. Therefore, our market is relatively young and with potential to grow. Political Factor The Republic of Moldova is a relatively young country as it gained its independence in 1990 when the USSR had collapsed. From that year on, the Moldavian people have struggled to install democracy. Until 2000 Moldova has been governed by democratic forces and has already achieved some progress in installing a fair and efficient legal system. Unfortunately for many persons, the elections of 2000 have identified the Communist party as the winner. The Communists have governed the country until 2008 when they have lost the elections in favour of the three democratic parties: Liber Party, Liberal-Democratic Party and the Democratic Party. However, the disparity of votes between the opposition and the winning forces was relatively insignificant and in order to have a consolidated majority in the Parliament and to be able to efficiently adopt legislation, the...
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...4559 REVISED DECEMBER 18, 2012 V. KASTURI RANGAN SUNRU YONG Alpen Bank: Launching the Credit Card in Romania Introduction In September 2006, Gregory Carle sat pensively at his desk at Alpen Bank’s corporate headquarters in Zurich. The previous evening he and the senior management team had enjoyed themselves dining late above the picturesque Limmat Valley, but now it was time to focus his attention on the task at hand. As Alpen’s country manager for Romania, Carle was contemplating a credit card launch in the Romania market, which he would pursue if he could be confident that it would add €5 million of annual profit to the Consumer Bank segment within two years (see Exhibit 1 for a summary of the financial performance of the Consumer Bank segment of Alpen Bank in Romania). Carle had been with Alpen since 1992, when he joined the bank’s global marketing group. His appointment in 2000 to country manager for Romania coincided with the bank’s opening its first branch in the capital city of Bucharest. Since then, Carle had overseen the opening of 14 additional branches in Romania, with Alpen Bank developing a reputation for excellence in serving affluent clientele. In addition to basic deposit, checking, and personal loan services, customers had access to a wealth management program composed of financial planning and investment products. The idea of a credit card for Romanian consumers was not new. Historically, Alpen management had balked at launching a card business due to...
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...The December 1989 revolution in Romania has been the subject of scholarly discussions, passionate debates, conspiracy theories, and political struggles. In 2004, for instance, an Institute for the study of the Romanian Revolution of December 1989 (IRRD) was founded in Bucharest, headed by then President Ion Iliescu whose term in office was soon to expire. The Institute’s publications have resisted a plurality of interpretations about the revolution as well as the blind peer-review process. Some analysts of the 1989 “events” question whether these constituted a proper revolution since many people who rose to power after Ceauşescu’s fall were not new faces but had been high-ranking communists. The handful of dissident revolutionaries, such as the poets Mircea Dinescu and Ana Blandiana, Reformed pastor Lászlo Tőkés, and professor Doina Cornea, quickly grew suspicious of the National Salvation Front (NSF), resigned their positions in it, and accused the Front of betraying the popular revolution. Some analysts and critics of the NSF claim that the NSF staged a civil war, in which people were shot at and died, in the days after December 22 in order to justify the summary execution of the first couple on December 25, and to permit the new political leaders to appear as true saviors of the nation after a heroic armed struggle. Others have claimed that the KGB, or the CIA, or both were involved in the change of regime in 1989. Debates have also revolved around responsibility for...
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