Editorial: Dilemmas of Modern Economy and Business
Various dilemmas concerning modern economy and business have been in the focus of scientific discussion in recent years (Klich, 2013; Renko & Knezevic, 2013; Szarucki, 2013; Agrawal & Gugnani, 2014; Pardhasaradhi & Grace, 2015). In modern economy, not only researches but corporations face complex economic and business dilemmas in their daily routine. The Joint Research Centre of the European Commission addresses key economic challenges by stimulating innovations, sustainability policies, social and environmental responsibilities. These challenges require the mobilization of significant resources by science, innovation and regional policy makers and scientific communities across Europe (EUA, 2014). Broader scientific discussions are crucial for the success of the Europe 2020 strategy for smart, sustainable and inclusive growth.
According to the Global Risks Report 2015, the biggest threat to world stability in the next 10 years arise from the four most serious economic risks. These are high structural unemployment or underemployment, energy price shock, critical information infrastructure breakdown and fiscal crises. We continuously agree that innovation is critical to global prosperity (WEF, 2015). Currently, the internationalisation of family businesses is an increasingly important research area. Substantial numbers of FBs are forced to expand into foreign markets in order to survive and grow in the competitive environment (Daszkiewicz & Wach, 2014). The roles of business angels are especially important taken both decreasing the levels of formal venture capital investment and growing average amount of individual deals. Angel investors are the key players in generating high-growth companies, essential to regional economic development. As a result, they have attracted the attention of policy makers (Rostamzadeh et. al., 2014).
Consequently, this issue of EBER concentrates on the current dilemmas of modern economy and business, particularly dealing with the Baltic States, Slovenia and Poland. Five out of eight articles published in this issue are research papers, two are conceptual papers, while one is a literature review.
Agrawal, S., & Gugnani, R. (2014). Creating successful business model: Lessons for social entrepreneurship. International Journal of Entrepreneurship and Innovation Management, 18(5-6), 438-445.
Daszkiewicz, N., & Wach, K. (2014). Motives for going international and entry modes of family firms in Poland. Journal of Intercultural Management, 6(2), 5-18.
European University Association (EUA). (2014). Report on Joint EUA-REGIO/JRC Smart Specialisation Platform Expert Workshop: The Role of Universities In Smart Specialisation Strategies, Brussels,Belgium. Retrieved on December 22, 2015 from http://www.eua.be/Libraries/publication/EUA_Seville_Report_web.pdf?sfvrsn=2
Klich, J. (2013). Editorial: Modern Challenges for International Business in Europe. Entrepreneurial Business and Economics Review, 1(2), 5-6.
Pardhasaradhi, R., & Grace (2015). Contemporary business challenges - Strategies for global competitiveness. International Journal of Applied Business and Economic Research, 13(3), 1005-1013.
Rostamzadeh, R., Ismail, K., & Zavadskas, E.K. (2014). Multi criteria decision making for assisting business angels in investments. Technological and Economic Development of Economy, 20(4), 696-720.
Renko, S., & Knezevic, B. (Eds.). (2013). Challenges for the Trade of Central and Southeast Europe (International Business and Management, Volume 29), Bingley: Emerald Group Publishing Limited.
Szarucki, M. (2013). Editorial: Modern Challenges for Business and Economy in CEE Countries. Entrepreneurial Business and Economics Review, 1(4), 5-6.
World Economic Forum (WEF). (2015). Global Risks 2015, 10th Edition. REF: 090115.
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