The sustainable, adequate, security and efficient operation of a central bank depends on many internal and external factors. New trends, challenges, and threats (which are associated with European integration, globalization, etc.) affect the sustainable, efficient, and security operations of the ECB, which can lead to economic or financial crises. Therefore, in the current situation, the concept of the Central Bank’s activities, its legal status and the institution of monetary policy should change completely. The purpose of this research was as follows: 1) to determine economic and legal aspects of sustainable, efficient and safe operation of the ECB, with a reflection on innovation and analysis of modern de lege lata trends to ensure sustainable development of the EU, 2) to prepare conclusions and to identify positive and negative aspects that affect the activities of the Central Bank, 3) on the basis of scientific and practical de lege lata research and its application, to develop de lege ferenda to improve the activities of the European System of Central Banks, the European Central Bank, national central banks and other institutions of the European Union.
Our paper focuses on the analysis of the the role of risk management in sustainable hotel chain policy. We tackle the issue of risk evaluation and prevention in hotel industry as a factor of enhancing its entrepreneurial value. Our empirical value-added is based on its own novel survey based on a case study of a chosen company. We evaluate the problem areas of risk management and make suggestions for the hotel optimization procedures based on our results and findings. Furthremore, we compare the outcomes of our research with those of the the studies conducted by the renown foreign companies and focusing on payment discipline and risk management. Our results demonstrate that in order to optimize the cash flow in hotel operations, it is advisable to provide a balanced business mix and improvement of strategic internal processes. Moreover, it appears that for the optimal application of the risk management it is important that a new or updated strategic analysis is conducted annually within the business entity according to the development of both the external and internal environment. Furthremore, financial and payment risks need to be integrated into the formulation of strategic goals so as to identify which of them can put the strategy and its strategic goals at stake.
With regard to its territorial size, economy and political power; Germany represents one of the most sustainable, competitive and economically developed Member States of the European Union. However, development of the knowledge-based economy on one hand and negative demographic trends on the other hand will force Germany to cover the growing demand for high-skilled labour force from non-EU countries in the coming years to keep this position. The paper analyses competitiveness within the framework of security and sustainability of the Federal Republic of Germany concerning labour migration from the third countries. Main research question of this article is formulated as follows: How can migration from the third countries influence economic development and competitiveness of Germany in terms of state’s demographic problems? With regard to the above, we try to verify our hypothesis claiming that compensation of the domestic workforce through regulated migration flows – necessary because of declining and aging population and skill disharmony in Germany – is only a short-time solution of the current situation on the German labour market, but it is not sustainable in the long run.
In recent years, tourism businesses have had to face rapid changes brought about by modernisation, internationalisation, social changes, and the higher demands of tourists. These features have an impact on the current level of tourism services and determine the overall economic environment on the supply and demand side. To keep up with global and national competition and these new emerging processes, it is important for managers to discover and monitor how key global figures can have an impact on the future development of tourism units in the hopes to achieve further sustainability growth. Managers should adapt to the changing environment by using new methods and strategies that make tourism units sustainable for future generations. One of the main indicators measuring economic sustainability is gross domestic product, as it captures the market value of the measured services or goods in general. For this reason, it is worthwhile to determine what the interconnections with regard to gross domestic product and tourism variable are. Through this relationship, it is possible to evaluate the health of a certain economy of tourism that can serve as a viewpoint for the management of tourism businesses in a certain state. This research looks at the relationship between the chosen indicators from the tourism sectors of the Czech Republic and Norway. Its purpose is to identify the relationship between the chosen general economic indicators measuring tourism economic prosperity, such as overall gross domestic product for international travel expenditures within a 7-year period. The main aim of the research is to determine the relationship between the chosen indicators through comparison and trend analysis. The data will be examined in order to determine the relationship between the chosen variables, as well as the strength of the dependence of both variables. Based on these findings, further research may use gross domestic product as one of the crucial indicators for the measurement of economic sustainability with respect to its added value for tourism businesses and management.
Security and sustainability conception analysis is being provided in the paper. The conceptions of security and sustainability have been selected due to their significance for contemporary globalized world’s issues. Initially, the perceptions encompassing even ancient times are being elaborated. Onward, with an intention to get a more sophisticated view of above mentioned expressions, relevant scientific literature has been critically reviewed accentuating to the dimensions of those two phenomena. The following common dimensions could be proposed: social, economic, environmental. The implication could be stated - security conception provides not only those three dimensions some other important dimensions could be distinguished as well. One more important finding composes the perception of dimensions interactions to analyzed conceptions. Some important implications are being provided in the paper, which elevate the significance of security to sustainability for today’s globalized society - security can be proposed as expression with ponderable value, while sustainability gains this power only with “sustainable development” phenomenon.