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Abstract: Background and purpose: This study aimed to fill a gap in the literature by identifying how employee burnout shapes decision-making styles in the post-COVID-19 business environment. The main goal was to examine the impact of three dimensions of burnout—exhaustion, cynicism, and professional efficacy—on four conflict-related decision-making styles: vigilance, buck-passing, procrastination, and hypervigilance. Design/Methodology/Approach: A total of 567 employees from various companies in Croatia participated in the online survey conducted in March 2023. Multiple regression analysis examined the impact of exhaustion, cynicism, and professional efficacy on decision-making styles under conflict. Results: The results of the multiple regression analysis revealed that professional efficacy leads to a vigilant decision-making style, while simultaneously diminishing procrastination, buck-passing, and hypervigilance. Cynicism, in contrast, was a positive predictor of procrastination, buck-passing, and hypervigilant decision-making. Finally, exhaustion was found to have a positive impact on hypervigilance. Conclusion: The study is significant because it contributes to the body of knowledge on the impact of burnout dimensions on professional decision-making styles in organisational settings, and it also offers practical implications of considerable importance.
Keywords: employee burnout, decision-making style, work-related stress, Croatian companies, post-COVID-19 period
Published in DKUM: 14.11.2025; Views: 0; Downloads: 4
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Abstract: Background/Purpose: The aim of this paper is to verify the applicability and accuracy of the Altman model in the case of Slovenian companies. The use of the Altman model is hugely popular and widespread among financiers, analysts and other stakeholders who want to determine the creditworthiness of a company’s operations and the likelihood of it running into financial difficulties in the coming years. Methods: The study was conducted on a sample of 66 Slovenian companies, which were divided into two equal groups: bankruptcy and non-bankruptcy companies. Based on accounting data for the last five years, the authors of this paper calculated the Z-Score, which is based on the Multiple Discriminant Analysis (MDA). By calculating the statistical error of the estimate (type I and II), the authors verified the extent (in percentage terms) to which the companies had been correctly classified by the model. The Mann-Whitney U test was used to check whether there was a difference in the average Z-Score between the two groups of companies. Results: The authors determined that the reliability of the Altman model was 71.21% when tested at the upper bound (the threshold value of the Z-Score was 2.6) and 80.30% when tested at the lower bound (the threshold value of the Z-Score was 1.1). This is similar to other countries, where the reliability was found to be over 70% in most cases. Despite the lower reliability of the model, the Z-Score proved to be an important factor in differentiating between the two groups of companies, as bankruptcy companies had a lower value of this indicator than non-bankruptcy companies. Conclusion: Based on the results of this study, as well as those of other studies, it can be summarized that the Altman model is a fairly good way for companies to determine the success of their business in a relatively simple and quick way and also to predict the potential risk of their operations in the future. However, since the reliability of the model is not 100%, it is important to be careful when making business predictions and carry out additional in-depth analyses or use other methods.
Keywords: Altman model, business success, bankruptcy prediction, Slovenian companies
Published in DKUM: 12.08.2025; Views: 0; Downloads: 1
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Abstract: This study deals with berth allocation for Maritime Autonomous Surface Ships (MASSs) in the context of the mixed operation of MASSs and manned vessels from the perspective of port-shipping companies’ collaboration. Two berth allocation strategies, namely the separated-type and the mixed-type, are proposed in this article. Two mixed integer nonlinear programming models aimed at minimizing the total docking cost of the vessels in the port and the waiting time for berths are developed and solved using Gurobi, respectively. A large-scale simulation of the mixed-type berth allocation model is carried out using an improved simulated annealing algorithm. Several experiments are conducted to test the effectiveness of the model and to draw insights for commercializing autonomous vessels. The presented results show that multi-objective modeling and optimization should be conducted from the collaboration of port-shipping companies, which is more efficient from the perspective of shipping companies or ports, respectively. When berth resources are limited or there is a high requirement for operational safety, the separated-type berth allocation strategy is more efficient. When the number of MASS-dedicated berths reaches a certain proportion, the total docking cost of the vessel no longer changes, indicating that more dedicated berths are not better.
Keywords: maritime autonomous surface ship (MASS), mixed operation scenarios, berth allocation, mixed integer programming, simulated annealing algorithm, port-shipping companies’ collaboration
Published in DKUM: 18.06.2025; Views: 0; Downloads: 1
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Abstract: The main aim of this article was to outline how the appearance of COVID-19 changed the global competitiveness of Slovenian companies through the lenses of corporate social responsibility (CSR) and crisis management. Based on concepts of CSR and crisis management, we analyzed the responses of companies to ensure their competitiveness in a crisis situation. Two surveys among managers in Slovenian companies were carried out, one in March 2020 (N = 618) and the other in May 2020 (N = 486). Our results showed that internationally oriented companies responded more comprehensively and proactively to the challenges of doing business in the COVID-19 crisis compared to the companies that had operated mainly in the domestic market during this period. The analysis also showed that internationally oriented companies responded to the COVID-19 crisis with more comprehensive measures also using the concept of CSR and crisis management in comparison with companies that, in the time of the pandemic, operated mainly in the domestic market and used fewer principles of CSR and crisis management. The main theoretical implications of this survey are related to CSR development. They emphasize the interdependent importance of experience and impact in international business in connection with the concept of CSR and crisis management in times of COVID-19. Practical implications include proposals to streamline operations to maintain competitiveness and to take advantage of new business opportunities and effects, which are also encouraged through the use of the CSR concept and crisis management.
Keywords: COVID-19, pandemic, companies, competitiveness, CSR, crisis management, Slovenia
Published in DKUM: 05.07.2024; Views: 135; Downloads: 35
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Abstract: This paper presents an inventory control problem in a private pharmaceutical distribution company from the Republic of Serbia. The company realizes that distribution within nine neighbouring countries and inventory control in the pharmaceutical supply chain is centralized. In order to constitute a conceptual model of the problem, we propose the modern control theory concept. The conceptual model is based on the specific practical assumptions and constraints of the supply chain. Thereafter, a dynamic discrete mathematical model of inventory control is formulated to reflect elements of the system and their relations. The model considers multiple pharmaceutical products, variable lead time, realized stochastics and deterministic demand, and different ordering policies (Lot for Lot and Fixed Order Quantity). Deterministic demand is represented as a sales forecast for each product per month, while stochastic demand is generated as a random variation of sales forecast in a range of ±20%. Two objective functions are defined as the maximization of the difference between planned average inventory level and realized average inventory level, and the minimization of stock-out situations. We develop a procedure for the determination of reorder points and the number of deliveries to achieve proposed objective functions. The model overcomes shortages of theoretically-based distribution requirements planning models and offers solutions to the limitations in inventory control practice. Real-life data, collected over two years, are used for the validation of the proposed model and the solution procedure. Numerical examples illustrate the model application and behaviour.
Keywords: distribution, inventory management, logistics, pharmaceutical companies
Published in DKUM: 09.08.2023; Views: 456; Downloads: 46
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