Kaunas, Lithuania

ISM University of Management and Economics is an institution of undergraduate, graduate and post-graduate education in business, management and economics. The University serves as an advanced centre of market analysis, executive training and leading academic thought.ISM University of Management and Economics was established in Kaunas in 1999 as the first privately owned institution of management education in Lithuania. The main founders of ISM are BI Norwegian Business School and The Norwegian Industrial and Regional Development fund. The predecessor of ISM was the Business Training Centre, well-known executive training institution in Lithuania.Since the 1995, when the Business Training Centre took the beginning, the main motive power was to contribute to the development of Lithuanian business community in providing up to date management knowledge. By offering a variety of executive courses, management training programs, market research, personnel evaluation, BMC was recognized as a leading institution of management training and consulting in Lithuania. Now BMC is the training and consulting department at ISM. Wikipedia.

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Gineikiene J.,ISM University of Management and Economics | Schlegelmilch B.B.,Vienna University of Economics and Business | Schlegelmilch B.B.,Sun Yat Sen University | Ruzeviciute R.,Vienna University of Economics and Business
Journal of International Marketing | Year: 2016

This study extends previous research by exploring perceptions of healthiness in the international food marketplace. To this end, it aims to fill an important gap by shedding light on the role of country of origin in shaping perceptions of healthiness. The authors provide evidence that domestic and foreign food products elicit different perceptions of healthiness. Consumers choose domestic products because they perceive them as healthier and more natural. The effect holds across different samples and product categories (apples, tomatoes, bread, and yogurt). However, this healthiness bias vanishes when products are presented as posing health risks and when products are introduced with a dual identity (i.e., both foreign and domestic). Researching these health-related effects helps provide a better understanding of consumer attitudes toward domestic- versus foreign-made food products. ©2016, American Marketing Association.

Agency: Cordis | Branch: H2020 | Program: RIA | Phase: EURO-3-2014 | Award Amount: 1.91M | Year: 2015

SPRINT project intends to give meaning to the concept of social investment as applied to long-term care provision. Its objective is to articulate in more detail the aspirations of the Social Investment Programme, to provide a means for assessing the social costs and benefits of various ways of providing long-term care for the frail elderly, and to present examples of approaches that do indeed, facilitate provision in a way that social benefits are achieved. More specifically, SPRINT will: identify the current landscape of organisation and resourcing of LTC in Europe in order to understand the place in the discussion that social investment currently has and how the principles of social investment used to improve provision in a fashion that is welfare enhancing; investigate how the different resourcing and delivery forms of LTC create social and economic returns, outcomes and social impact and to determine their success factors; evaluate the fiscal and social costs and benefits of various national approaches to LTC delivery; establish a common vocabulary for social investing and for the financing mechanisms of long-term care; identify the most appropriate frameworks for the definition and analysis of social impact of LTC programmes; define the principles for incorporating social considerations in funding decisions of LTC policies and to analyse their relationship with the social innovations addressing the challenges of demographic ageing and of inequities in access to care; develop appropriate instruments, such as the Feasibility Framework Tool, the assessment scales, thresholds and the Impact Map, which will ensure successful implementation of investment in LTC by public authorities, social insurance funds and private investors; create a model of investment in the care sector, emphasizing in social innovations that will be correlated with the broad economic policies; and propose reforms at policy levels.

Kurschus R.-J.,Rechtsanwalte Insolvenzverwalter | Sarapovas T.,ISM University of Management and Economics | Cvilikas A.,Kaunas University of Technology
Engineering Economics | Year: 2015

The prediction of companies’ crisis and assessment of crisis probability is an important theoretical and practical problem which is being analyzed by various authors from finance, business administration and law perspectives. Various authors have presented different models for company’s crisis identification, but most of them are based on the quantitative assessment of financial ratios. Such models have a limited usability because the lack of factors assessed in case of small and medium companies. In SMEs sector the company’s crisis identification is specific because of the nature of SMEs business management which creates the strong dependability of business results on human resources and environmental factors. In this study the set of qualitative and quantitative factors is proposed to support the development of company’s crisis identification models for SMEs. The proposed set of criteria allows identification of the real situation in the company regarding not only the financial statements but also a wide variety of factors related to company’s management capabilities, competencies of human resources, possible impact of internal and external environmental factors and other important non-quantitative aspects. The prosed set of criteria might be used for the development of company’s crisis identification model which would help to forecast the possible company’s crisis in SMEs sector. © 2015, Kauno Technologijos Universitetas. All rights reserved.

Navickas M.,ISM University of Management and Economics | Gudaitis T.,Vilnius University | Krajnakova E.,Alexander Dubcek University, Trencin
Business: Theory and Practice | Year: 2014

The article focuses on the importance of financial literacy to management of personal finances in a young household. Responsible management of personal finances should be fostered since early stages of life, as financial mistakes made during the years of youth can be costly and difficult to correct in the future. Moreover, a high level of financial literacy has a positive impact on day-to-day decision making and leads to higher saving rates, which improves the quality of life in the long run. The paper deals with main factors affecting the low level of financial literacy in Lithuania and other countries. Results of the survey of Lithuanian residents are compared to results of similar foreign researches. © 2014 The Authors. Published by VGTU Press.

Buoziute-Rafanaviciene S.,Kaunas University of Technology | Sarapovas T.,ISM University of Management and Economics | Barsauskas P.,Kaunas University of Technology
Engineering Economics | Year: 2011

Executive succession is one of the most important events in organization, which has strong implications for future organizational performance. According to the literature analysis, effective and successful socialization is mutually advantageous for organizations and for individuals. It is agreed that the successor's socialization process has an impact for future organizational performance success. Among the outcomes of successful socialization there are newcomer's job satisfaction, commitment to the organization, longevity in the organization, performance proficiency and some others. Application of socialization theory allows to foresee why some CEO successions lead to a change in an organization's strategic direction while others do not. However, how the socialization process differs in differently sized organizations still requires further discussions and elaborations. The paper explores the stages of executive succession, executive integration process received as taking charge and socialization, and describes socialization outcomes. The authors revealed that a limited attention is paid to the analysis of executive's socialization differences in small, medium and large organizations. The paper aims to identify the elements of executive successor's socialization process and explore how they differ in small, medium and large organizations. After exploring the elements of executive socialization process, the conceptual model was developed. A quantitative research methodology was employed in order to identify the executive socialization differences in small, medium and large organizations. The survey was implemented in rapidly growing or/and most profitable Lithuanian organizations which experienced the CEO change within the last 3 years. The results of the survey revealed that the success of executive socialization was moderate in all differently sized organizations. Socialization process in organizations received a rank mean from 7.41 to 7.81 and indicated that there was room for improvement. However, the differences of executive's socialization process in differently sized organizations were revealed. In small organizations, proactive leadership effectiveness is higher than in medium or large organizations, i.e. newly appointed executives tend to more enhance their own transition experience. In a large organization, the selection and pre-hire planning process is better organized and implemented than in small and medium organizations. In medium size organization, selection and pre-hire planning, proactive leadership effectiveness and acculturation process received the lowest rank means comparing to small and large organizations. The results of the survey allowed identifying the differences of socialization process in small, medium and large organizations and indicating the gaps for improvement. Therefore, further research should be carried out identifying the executive socialization improvement elements in the context of executive succession.

Salciuviene L.,Lancaster University | Auruskeviciene V.,ISM University of Management and Economics | Ivanauskiene N.,ISM University of Management and Economics
Engineering Economics | Year: 2014

Numerous studies have analyzed customer intention to purchase financial services. Literature analysis suggests that various drivers can have an influence on retail bank customer intentions to purchase financial services online. This study investigated key drivers that affect customer intentions to purchase financial services online in a transitional economy. A survey data were collected from 185 adult visitors of several popular websites in Lithuania. Hypotheses were tested using correlation and regression analyses. The findings suggest that “usefulness”, “easy to use”, “security”, “trust” and “confidentiality” are key drivers that influence customer intention to purchase financial services and therefore are important in Internet banking. The research demonstrates how these five drivers affect customer intention to purchase financial services online in transition economy, and reveals relationships among the drivers. The results that were obtained supported all five hypotheses. “Usefulness” and “easy to use” emerged as the main reasons for using financial services online. “Security”, “trust” and “confidentiality” drivers also appear to be important factors affecting customer intentions to purchase financial services by the Internet. This study is of interest to bank managers, as they can apply the key drivers offered in this study to evaluate a usage of financial services and to increase customer intention to purchase financial services online. This study is limited to one transitional economy under investigation and further research needs to be extended to other economies. Researchers might also evaluate other e-banking drivers. © 2014, Kaunas University of Technology. All rights reserved.

Auruskeviciene V.,ISM University of Management and Economics | Pundziene A.,ISM University of Management and Economics | Skudiene V.,ISM University of Management and Economics | Gripsrud G.,Norwegian School of Management | And 2 more authors.
Engineering Economics | Year: 2010

Although a change of country image in general is a rather long process (Kuvykaite & Kerbelyte, 2008), hosting sports events may contribute to changing a country's image. When governments and cities host major sports events like the Olympics it is partly because such events are perceived as a means to promote the image of the host. The cost of an event like the Olympics is considerable, and in most cases the local and/or the national government has to pick up the lion's share of the bill. The Norwegian government sponsored the 1994 Lillehammer Winter Olympics by more than one billion euro. The Summer Olympics are even more expensive, and as an example the South Korean government spent more than three billion US dollar on the 1988 Summer Olympics according to Nebenzahl and Jaffe (1991). A report released in 2002 stipulates that the NSW government in Australia spent more than one billion dollars on the 2000 Olympic Games in Sidney. Therefore, it is very important to know if these investments of money and effort change the image of the hosting country. This study presents the effects of the Torino (Turin) 2006 Winter Olympics on the image of Italy in Lithuania. Two random samples of students at major Lithuanian universities were selected. Students were interviewed because they are part of society, which are very interested in sports events like Olympics. The first sample consisted of 297 respondents and was collected before the Winter Olympics in Torino. The second sample consisted of 346 respondents and was collected after the event. There is no consensus among scholars regarding the country image concept. The understanding of the nature of this phenomenon varies in terms of target group (investors, students, visitors, etc.). By synthesizing various approaches Laroche, Papadopulos, Helsop, & Mourali (2005) define three main country image dimensions: cognitive, affective and conative. However, little research has been conducted to test it. This research tested the following country image dimensions: image of the people in the country, image of the societal system and the level of animosity towards the country. The following three general hypotheses have been formulated: H1: Animosity dimension of country image is influenced by a major sport event such as Winter Olympics. H2: Societal dimension of country image is influenced by a major sport event such as Winter Olympics. H3: People dimension of country image is influenced by a major sport event such as Winter Olympics. The research results indicate that the Animosity dimension of Italy after the Olympics changed negatively which means that Lithuanian students got less favourable impression of Italy. The other two hypotheses were not supported. Several factors contribute to the explanation of the research results: there was a lot of negative press concerning the logistics of the games, the Torino Olympics chose the slogan 'Passion lives here' and then failed to show any according to their polls: there were few inspired spectators at some of the events.

Huettinger M.,ISM University of Management and Economics | Cubrinskas V.,ISM University of Management and Economics
Engineering Economics | Year: 2011

Self-service is a type of service, where a customer can perceive his/her buying action with more self-involvement. Since a customer has an impact on the quality of the creation of the service experience, it naturally has an effect on the image of the company. The loyalty to a store or a brand is affected by the customer's experience as well. This effect on customer attraction to a company is an important variable in business. The literature therefore identified four main loyalty forms in the area of consumer behavior: brand loyalty, vendor loyalty, store loyalty and service loyalty. Before installation and during the usage of self-service automated systems, it is useful for vendors to know if it would not discourage some customers. Yet, the affect of self-service option deployment on customer loyalty is not known. The purpose of the research was to investigate and relate certain consumers' traits to the usage/preference of self-service technology. It was discovered that, on average, more than 50% are active users and prefer ASS to personal service. The discovery of enhanced attitude towards a company, which offers self-service option, suggests opportunities of new type of loyalty development. The structure of the paper is determined by the scope of the research purpose. In the first two parts of the paper, the theoretical framework behind the proposed approach was evaluated. The methodological and analysis chapter discusses consumer behavior from a service and store loyalty perspective. The hypothesis of this paper is that the choice of self-service technology leads to a trait in that technology, resulting in a positive attitude towards the company. The empirical research is based on a sample of 547 respondents and addresses the potential existence of technology-driven loyalty. Usage patterns and opinions are assessed. Comparison of means and binomial regression were used to test for significant linkages between traits and usage/preference for self-service technologies.Research objectives were: a) review the literature about consumer interaction with self-service technologies and identify missing gaps/contradictions in existing knowledge b) describe consumer traits, that are influential for certain attitudes towards self-service technologies c) evaluate the importance of different consumer traits for preference and usage, using a statistical analysis and data from the survey; classify the traits on demographical parameters and d) provide recommendations for further exploration and implications for practical application. The findings indicate that consumers with a positive attitude towards self-service machines express an increased attraction to service providers. However, the frequency of usage has not a significant impact on the perception off self-service technology attributes. Furthermore, the findings show that the perceived advantages of self-service technology are homogenous among various users groups. The enhanced attitude towards a company, which offers a self-service option, suggests opportunities of a new type of loyalty development. Moreover, customers were grouped by demographic variables, indicating that younger and higher income customers are more loyal to technology-related service attributes.

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ISM University of Management and Economics | Entity website

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