Generolo Jono Žemaičio Lietuvos karo akademija

The ultimate goal of an enterprise is value creation (Rappaport, 1986; Mills and Weinstein, 2000; Jensen, 2001) and it has a great importance for its owners (i.e. shareholders). The concept that is currently coming to the forefront, however, is that of sustainable value. The present paper deals with the definition and evaluation of basic points of departure, approaches and selected tools that lead to measuring corporate sustainability. The last section presents a theoretical basis of measuring corporate sustainability based on sustainable value, which will be the basis and starting point for primary research in selected industries.

A paper seeks to justify a need for the better development of sustainable innovative entrepreneurship by public policy initiatives. It takes into account two sides of this issue going from the main challenges of business innovation activity to the possible public policy actions necessary to improve the existing situation. The main focus of this paper is directed on the improvement of current Lithuania’s innovation policy for the more effective business innovation promotion. Moreover, a concept of the innovative entrepreneurship is also discussed here as a foundation of the linkage between innovation and entrepreneurship policies. The research is based on the interpretative, systematic and comparable analysis of the quantitative and qualitative data. The paper provides the results of Lithuania’s innovative enterprises survey performed by the author. The findings include the issues related to the innovative business needs and the role of innovation policy actions in the promotion of this kind of business.

In order to achieve the main objective – to facilitate the analysis of financial reports and assessment of company’s financial condition and activity, the analysis and modelling of usage of statistical methods becomes one of the tasks. The statistical analysis may also be treated as one of the main assessment modes of the company’s financial condition or activity, which can facilitate the work of analysts significantly. The conducted analysis of scientific literature allows stating that the usage of statistical methods in the assessment of company’s financial activity has not been widely analysed; besides, there are no assessment models, which would allow analysing the company’s finances sufficiently precisely and quickly. Thus the objective of the scientific research presented in this article is to identify and to define clearly the theoretical aspects of modelling of statistical methods within the context of financial analysis. Therefore it is meaningful to prepare a theoretical model of financial analysis with the help of statistical methods, on the basis of which the scientists, managers of the company or other interested persons would be able to conduct the company’s financial analysis sufficiently precisely and easily.

Mining and metals production sector (MMPS) of Ukraine is one of the basic for the state’s economy. The sector’s output, as well as the gradual increase in production, gives reason for taking a favorable view of its development prospects. Until the mid-90s MMPS of Ukraine key representatives were separate companies that operated as independent legal entities. However, during 1999-2004 the MMPS enterprises integration into the structure of major private transnational financial industrial groups took place. Large-scale consolidation of major enterprises that occurred in order to adapt to market conditions contributed to the emergence of business combination referred to as holding company. In the future, Ukrainian iron and steel companies’ competitiveness in the world market will be largely determined by the scope of their participation in the global consolidation processes. Their future directly depends on the rate of large corporations’ formation and restructuring, including changes in the mechanisms of corporate governance. This is one of the most important ways to improve the efficiency of the national iron and steel industry.

The present article is to examine benefits of social capital for innovation capabilities in the modern business world. First of all, the concept of social capital and its role are defined referring to a set of scientists’ interpretations on social capital and economic/ social development. This chapter allows an ingenious acknowledgement of the added-value of social capital to companies. The main patterns of innovation capabilities are revealed, followed by the methodology and research results presented. The paper emphasizes social capital as a driving factor for organizations while conducting innovations. In line with such elements of social capital as trust, social networks and norms that emerge as the driving factors within the literature review, the research, based on the Global Entrepreneurship Monitor (GEM) methodology, mainly focuses on three elements of social capital: trust, norms and networks in Lithuanian companies. The research question: how such social capital elements as trust, norms and networks help organizations to innovate sustainably.