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Item The Use of Artificial Intelligence in Financial Advisory(2024) Michelini, DavidThis article analyzes the potential benefits and challenges of utilizing artificial intelligence (AI)in financial advisory based on a survey conducted among financial advisors. The results indicate that mostadvisors perceive AI as a tool capable of enhancing various processes, from data processing to financialplanning and client service personalization. The study identifies key areas where AI can reduce administrativeburdens, accelerate data analysis, and support better decision-making. However, respondents alsoexpressed concerns regarding data security, the need for more reliability, and the transparency of AIalgorithms, which could limit the broader adoption of these technologies. Although AI is a significantadvancement, its full implementation in financial advisory will require a balanced approach combiningtechnological solutions with human advisory. This research overviews the current state and highlightspotential directions for AI development in financial advisory, emphasizing the need for an ethical frameworkand transparency.
Item Identifying opportunities to innovate project management education in the digital age(2023) Nosková, Marta; Jelínková, EvaThis paper focuses on innovative learning methods (serious games, simulation games, virtual and augmented reality, the learning-by-doing concept, and Massive Online Open Courses) used in project management education. The use of these learning methods in project management education is crucial, as this subject needs to be practiced in real life. This paper aims to examine the current state of research in this area to determine which learning methods are most commonly used in project management education, what impact they have on the ability to learn, and whether these methods are beginning to transfer to the online environment. To this end, a systematic literature review was conducted in the Web of Science database, which resulted in 53 papers. The results show that game-based learning is the most frequently researched method (43 times). The impact of the analysed methods on the ability to learn was found to have been confirmed 23 times, especially in game-based learning research (18 times). On the other hand, the online environment is not predominant, and these methods are mostly taught on-site (28 times).Item Gender diversity in TOP management teams: indicators of company financial performance literature review(2023) Rotenbornová, LucieGender diversity in management has been a topic for the last decades. Currently, women are still not represented to a sufficient extent, however, it is already possible to observe the potential dependence of the financial performance of companies and the number of women in managerial positions. Nevertheless, this dependence is still not clearly defined. One reason may be that studies use different indicators to measure financial performance and gender diversity in management and determine the effect of gender diversity in management on these indicators. This study aims to provide an overview of the indicators used to measure financial performance in studies examining the impact of gender diversity in top management (TMT) on financial performance. Indicators are identified using a literature review of available sources. A total of 19 studies from the period 2015 to 2023 were collected for the research. These studies were obtained from the Web of Science and Scopus databases. The results of the work show that the most frequently chosen indicator for measuring financial performance is return on assets, return on total invested capital, return on equity, return on sales and return on investment. Together with these indicators, Tobin's q is also often used. The analyzed studies do not clearly determine the influence of gender diversity on most indicators.Item A Framework for a Valuation of Digital Start-Ups Using Artificial Intelligence and Fuzzy Sets(2023) Pešík, Jiří; Taušl Procházková, Petra; Januška, MartinThis article presents an innovative framework for assessing digital start-ups and smaller companies using a fuzzy set approach, considering the founder's expertise, product marketability, financial health, and social media presence. Four Czech digital start-ups were analyzed by both human experts and an artificial intelligence model. Using a fuzzy additive ratio assessment, each startup was evaluated on a five-point scale, with the results compared to Deloitte's FAST 50 rank. The AI and human evaluations differed, with humans placing more emphasis on the founder's experience and product appeal. The study suggests a valuation framework involving both human and AI expertise for interactive comparison and update. The article highlights the value of AI in startup assessment, stressing the necessity of merging human and artificial intelligence in decision-making.Item Key factors influencing the implementation of virtual reality in employee training(2024) Kristl Volfová, Monika; Egerová, DanaVirtual Reality (VR) is rapidly becoming more popular and accessible. With the growing popularity of its use in the corporate sphere, there are already a number of publications that focus on adapting this modern technology to employee training. Unfortunately, they only focus on certain areas and lack a comprehensive view. This study focused on this research gap, and is one of the first (and in the Czech Republic the very first) study investigating the key factors influencing the implementation of VR in employee training. The Delphi method was implemented using a total of 22 deliberately selected experts according to pre-selected criteria to ensure sufficient and relevant data. The Delphi method was conducted in 3 rounds, and 59 factors were obtained, which were divided into positive and negative, and at the same time, in both these areas, the factors were categorized into 5 dimensions, which were determined based on the modified Khan´s framework. In the analysis of the third round, Kendall's coefficient of concordance was calculated for each group. This study represents a significant contribution to the research on virtual reality as a tool for employee training. Moreover, the findings of the study are beneficial for companies, CEOs and HR managers in terms of successfully implementing virtual reality-based training.Item Performing Managerial Functions During the COVID-19 Crisis: A Systematic Literature Review(2024) Nosková, Marta; Januška, MartinManaging businesses during COVID-19 was challenging, mainly due to constant changes. Managers' experiences gained from these crises should be shared so that they can be more prepared in case it happens again. The aim of this article is to research current literature to find out what changes in the performance of managerial functions were observed during the COVID-19 crisis. A systematic literature review was performed in the Web of Science (WoS) database to summarise findings on this topic. Eventually, only 18 publications were analysed (which indicated a significant research gap). Most of the identified changes were related to the function of leading (e.g., the need to motivate and communicate more clearly and support employees to adapt to remote working). In organising, managers faced problems regarding the shortage of employees, constant reorganisation, and the issues accompanying remote working. Planning in the COVID era was very challenging, but not many research papers dealt with it, same as with controlling. When writing this article, no publication (on WoS) directly studied the changes in management functions due to the COVID-19 crisis. This article bridges the identified research gap by summarising the changes identified from the existing research and suggests the necessity of the research in this area.Item Generational differences in work-related expectations: Examining period and cohort effects(2024) Egerová, Dana; Komárková, Lenka; Rotenbornová, LucieThis study explores the extent to which cohort expectations in the context of the anticipatory psychological contract. This investigation focuses on the transition of the new Generation Z into the labour market and the preceding Generation Y. A longitudinal study based on a repeated questionnaire survey with 1,000 respondents was employed to examine cohort and period effects simultaneously. Differences in the development of work-related expectations between two generations were assessed using statistical linear mixed models. The findings indicate that the future work-related expectations of Gen Y and Z are primarily influenced by the cohort effect. The results also reveal that the expectations of both generations are relatively stable even during the turbulent period of 2019-2022. However, their levels differ between the two generations. The research findings have practical implications for managers, recruiters, and corporate human resource departments in terms of understanding and attracting and retaining the emerging generation of new employees. Some theoretical implications are also discussed.Item Identifying the testing possibilities for the relationship between ESG and business performance(2024) Jelínková, Eva; Nosková, Marta; Špačková, PetraThe paper aims to map the area of ESG and its impact on business performance via systematicliterature review and apply the findings to the Czech environment. The research questions arestated and answered via systematic literature review of articles indexed in the Web of Sciencedatabase. The results show that the data for the existing research come from third-partydatabases that have created their methodologies for establishing ESG scores or ratings. Thedata in research papers are from large market-listed enterprises or directly from stock marketindicators. The hypotheses of all the analyzed papers were tested using statistical tools, and thepositive relationship between ESG and financial performance was proven, except for thebanking sector. The findings of this research are applied to the Czech environment, a researchquestion for empirical research is developed, and possible directions are suggested for furtherresearch activities in this area.Item Tailored continuous risk management in nanosatellite space project VZLUSAT-1 using FMECA(2024) Januška, Martin; Čech, MarekThe purpose of the research is to demonstrate an application of the existing methodology for risk assessment Failure Mode and Effect Criticality Analysis (FMECA) in nanosatellite projects together with a risk register proposal elaborated based on a literature review and expert interviews. The paper also elaborates on the integration of FMECA and knowledge capture and transfer technique. Literature evidence and the use case of the VZLUSAT-1 CubeSat show that it is challenging to implement proper project management and especially risk management practices into nanosatellite (or CubeSat) projects. The risks identified are mostly connected with the technical part, design, and operation of the satellite, and personal, financial, stakeholder, or managerial risks are omitted. The mission success rate can be significantly improved when risks are adequately considered at stages preceding the launch and operation of the satellite.
Item The Relationship Between The Circular Economy And Business Performance: A Systematic Literature Review(2024) Nosková, Marta; Taušl Procházková, Petra; Zemanová, VeronikaThe circular economy represents an effective way to address limited resources and mitigate the impact of human activity on the planet. To summarize the possible effect of circular economy implementation on business performance and its possible measurement, a systematic literature review on a final sample of 28 papers was conducted. The main findings reveal that the circular economy can help to improve business performance and that numerous indicators could be used to measure it, especially the balanced scorecard approach, which seems suitable for such classification (however, more research on this topic is needed). Additionally, it was revealed that the circular economy concept itself has no clear and generally used definition, which complicates the summarizing of the revealed indicators. To simplify future research, we proposed a research framework based on this systematic literature review and emphasized the research gaps.Item The influence of the COVID-19 pandemic on managerial functions: Theory verified by Delphi method(2024) Nosková, Marta; Kutlák, JiříThe aim of the article is to analyse the performance of managerial functions in the contextof the COVID-19 pandemic. The first part of the article focuses on a systematic literature review (SLR)aimed at identifying the most frequently researched managerial functions in the context of changesdue to the pandemic and the difficulties in performing these functions. A total of 211 articles fromthe Web of Science database were analysed, 18 of which were relevant to the present research.Based on the SLR conducted, two research questions were identified and answered by conductinga three-round Delphi survey among the experts interviewed (a total of 23 company managers).The results show that during the COVID-19 pandemic, the managerial function of planning hasthe highest importance and was performed the most often, followed by the function of leading.The managers gave minor importance to the organising function, which was statistically confirmedby Friedmann ANOVA followed by post hoc analysis – the Bonferroni-Dunn test. The results alsoconfirmed a satisfactory level of expert agreement on the data obtained (Kendall W ~ 0.7–0.84),confirming the relevance of the findings. Also, several internal barriers that affected the workof managers were identified. The results are somewhat unusual, as most of the constraints facedby managers were imposed by the external environment, such as government regulations orsanitary measures. This discrepancy suggests that companies should emphasise improving theircrisis management in the future. The results obtained thus provide the basis for further researchin the area analysed. At the same time, it is possible to move away from the COVID-19 situation andtransform the issue into managerial management in crises.Item Continuing Vocational Training in Enterprises: Comparison of Selected Indicators of the Czech Republic and Hungary(2024) Michelini, David; Kristl Volfová, MonikaThis article presents a comparative analysis of Continuing Vocational Training (CVT) in companies in the Czech Republic and Hungary based on selected indicators from the European Union's CVT survey. The study examines the participation of employees, the time dedicated to training, and the primary targeted skills of CVT courses. The results highlight significant differences in participation rates and focus on specific skills between the two countries, with a higher percentage of employee participation in training in the Czech Republic and a particular focus on IT skills in Hungary. The findings suggest that CVT plays a crucial role in enhancing employee skills and organizational competitiveness, highlighting the need to explore further the reasons behind these differences between countries and their impact on policy and practice in vocational education. The study also emphasizes the importance of adapting CVT programs to the rapidly changing labor market and the employer's need to effectively respond to new challenges in skills and competencies.Item Critical Success Factors for Public Procurement of Innovative Solutions in Central Europe: Empirical Study(Technical University of Liberec, 2023) Januška, Martin; Palacká, AlenaTento článek si klade za cíl vyhodnotit kritické faktory úspěchu při využívání konceptu veřejných zakázek na inovace (PPI). První část článku se zabývá systematickým přehledem výzkumné literatury na téma kritických faktorů úspěchu pro PPI. V druhé části autoři představují empirický výzkum realizovaný jako doplněk projektů PPI2Innovate a RI2integrate v rámci programů Europe a Interreg Danube. Tyto projekty (jejichž řešitelský tým zahrnoval i jednoho z autorů této práce) analyzovaly využití konceptu PPI v EU. Autoři oslovili týmy expertů vytvořené v šesti zemích za účelem těchto dvou projektů, aby vytvořili seznam kritických faktorů úspěchu, využívajících metodu Delphi, pro realizaci projektů využívajících metodu PPI. Pro další hodnocení bylo vybráno šestnáct nejčastěji se opakujících kritických faktorů úspěchu. Tyto kritické faktory byly následně vyhodnoceny na Likertově škále z hlediska jejich významnosti. Poté následuje diskuse o výsledcích kritických faktorů identifikovaných v rámci systematického přehledu literatury s ohledem na jiné autory a existující výzkum. V závěrečné části článku jsou na základě zkušeností z pilotních projektů navržena možná řešení pro posílení použitelnosti konceptu PPI. Při porovnání klíčových faktorů úspěchu vyplývajících z literární rešerše s těmi, které byly identifikovány v rámci expertního výzkumu, je zřejmé, že jsou většinou stejné, i když existují drobné rozdíly. Expertní výzkum identifikoval sdílení osvědčených postupů a modelových projektů v zemi jako další klíčové faktory úspěchu.Item The Relation Between Leadership and Expected Results from the Educational Process Within School Culture(University of Maribor Press, 2023) Eger, Ludvík; Egerová, DanaItem The Impact of COVID-19 on the Readiness of Enterprises for Employee Training Using ICT - A Comparison of the Visegrad Four Countries Covid 19(GiLE Foundation, 2023) Kristl Volfová, MonikaItem The Adaptation of Small and Medium-Sized Enterprises in the Service Sector to the Conditions of Society 4.0(JEFMS, 2023) Dvořáková, Lilia; Vacek, JiříČlánek shrnuje výsledky výzkumu adaptace MSP v sektoru služeb na podmínky Společnosti 4.0. Hlavním cílem výzkumu bylo analyzovat a představit postupy a nástroje adaptace MSP na disruptivní změny, které přinášejí principy a technologie Průmyslu 4.0 a Společnosti 4.0 do podnikových procesů a společnosti jako celku. Prezentovaná metodika a výsledky výzkumu mohou podpořit účelnou (effective) a účinnou (efficient) adaptaci MSP na změny v podnikatelském prostředí vedoucí k udržitelnému růstu, novým konkurenčním výhodám, prevenci a redukci hrozeb a rizik plynoucích z nepochopení potřebné transformace současných a budoucích podnikových procesů. Navržená metodika adaptace a potenciál její aplikace v MSP představuje moderní přístup podporující stabilitu a ekonomický růst v průběhu oživení z pandemie Covid-19. Výsledky výzkumu mohou být aplikovány a adaptovány na specifické potřeby a požadavky MSP v sektoru služeb nejen v ČR, ale i v jiných státech Střední Evropy, jmenovitě Slovenska, Polska a Maďarska, v nichž je podobné legislativní prostředí pro MSP, historie a trendy transformace MSP. Představené výsledky mohou sloužit i jako motivace a znalostní podpora identifikace a hodnocení příležitostí a hrozeb MSP v podmínkách Společnosti 4.0.Item Vnímání města v kontextu historické památky na příkladu chebských krovů(Západočeská univerzita v Plzni, 2022) Tlučhoř, Jan; Přibáň, Pavel; Gangur, Mikuláš; Ircingová, Jarmila; Jakubíková, Dagmar; Janeček, Petr; Maříková, Hana; Štumpf, PetrČlánek se zabývá vnímáním a obrazem města Chebu v kontextu historického dědictví. Od roku 2017 je ve městě realizována prohlídková trasa historickými krovy. Cílem výzkumu bylo zjistit, jaký vliv má tato aktivita na image města, resp. zda historické krovy již tvoří součást image města alespoň pro některé obyvatele a občany ČR. Obraz města dosud nebyl systematicky zkoumán. Byly provedeny dva průzkumy, jeden mezi obyvateli města a druhý mezi občany ČR. Bylo zjištěno, že město Cheb je v povědomí respondentů spojováno s historickým dědictvím. Mimo město Cheb však historické krovy zatím nejsou dostatečně spojovány s jeho vnímáním. V článku je také prezentován sémantický diferenciál s vnímáním města Chebu občany.Item Digitalizace v oblasti řízení lidských zdrojů: systematická literární rešerše.(Západočeská univerzita v Plzni, 2022) Jelínková, Eva; Špačková, Petra; Taušl Procházková, PetraPrůmysl 4.0, digitalizace či digitální transformace nepochybně představují jeden z hlavních trendů měnící se ekonomiky, společnosti a podnikání. Představují zásadní téma rezonující aktuálně v reálném podnikovém světě i v akademické sféře. Nové moderní digitální technologie a jejich využití s sebou přináší zásadní dopad na dosavadní fungování podnikatelských subjektů a vyzývá je udělat radikální změny v řízení podnikových procesů a dílčích aktivit. Předkládaný příspěvek reflektuje potřebu zaměřit výzkumné aktivity na digitalizaci různých podnikových oblastí, konkrétně se zaměřuje na oblast řízení lidských zdrojů, reps. human resources (HR). Cílem příspěvku je přispět do literatury o digitalizaci HR, konkrétně prozkoumat současný stav v oblasti digitalizace HR. Za tímto účelem byla provedena systematická literární rešerše v databázi Scopus. Tato studie shrnuje a prezentuje stávající poznatky strukturovaným způsobem a také identifikuje možné směry budoucích výzkumných aktivit. Vybrané příspěvky byly analyzovány a klasifikovány dle oblasti zájmu do dvou hlavních kategorií digitalizace lidských zdrojů, a to na články, které se týkají digitalizace HR jako takového, tj. digitalizace disciplíny řízení lidských zdrojů, a na druhou kategorii, kterou je HR jako podpora digitalizace, tj. oblasti, kde může HR pomoci s digitální transformací dalších podnikových činností či procesů. Hlavním společným jmenovatelem většiny článků napříč oběma klastry se stal digitalizovaný lidský kapitál.Item Business competitions and their importance(Západočeská univerzita v Plzni, 2022) Zemanová, VeronikaItem Vnímání města v kontextu historické památky na příkladu chebských krovů(Západočeská univerzita v Plzni, 2022) Tlučhoř, Jan; Přibáň, Pavel; Gangur, Mikuláš; Ircingová, Jarmila; Dagmar, Jakubíková; Janeček, Petr; Maříková, Hana; Štumpf, Petr
