Knowledge-based HR Practices and Innovation in SMEs
Mohammad Jaber Yousef AL-TAL
Girne American University, Faculty of Economics and Business, Business Management Department, via Mersin 10, North Cyprus, Turkey
Okechukwu Lawrence EMEAGWALI
Girne American University, Faculty of Economics and Business, Business Management Department, via Mersin 10, North Cyprus, Turkey
Abstract
Background/Purpose: Recent reviews of the human resource management (HRM) literature continue to position knowledge management and intellectual capital as the key determinants for competitiveness, productiveness and organizational performance. This article explores the nexus between knowledge-based HRM practices, knowledge management capacity, intellectual capital, product and process innovation in small and medium-sized enterprises (SMEs). Design/Methodology/Approach: Data were gleaned from 250 registered SMEs in Jordan using a simple random sampling technique. A covariance structural equation modelling (CB-SEM) was deployed in testing the proposed research model. Results: The findings cast light on the positive influence of knowledge-based HRM practice of SMEs on SMEs knowledge management capacity, intellectual capital and, product and process innovation. Similarly, knowledge management capacity SMEs exerts positive impact on their intellectual capital and, product and process innovation. Intellectual capital also emerges as a strong predictor for SMEs product and process innovation. Finally, a serial indirect effect (mediation) of knowledge management capacity and intellectual capital on the relationship between knowledge-based HRM practice of SMEs and, product and process innovation were revealed. Conclusion: Knowledge-based HRM practices and innovation have received vast amount of research attention, yet there is a lack of understanding on the process by which the former leads to the latter. Drawing on knowledge-based view (KBV) theory, this study is among the first attempts to unveil the structural process between knowledge-based HRM practices and innovation through knowledge management capacity and intellectual capital. This study theoretically validated the KBV framework in a non-Western context and demonstrate the importance of knowledge-based HRM practices for SMEs innovativeness. The findings do not only provide useful insights for managers and scholars, but also serve as the building block for future research. Keywords: HR Practices; intellectual capital; product innovation; process innovation; knowledge capacity
Behavioural Aspects of the Financial Decision-Making
Katarina VALASKOVA
University of Zilina, Faculty of Operation and Economics of Transport and Communications, Univerzitna 1, 010 26 Zilina, Slovak Republic
Viera BARTOSOVA
University of Zilina, Faculty of Operation and Economics of Transport and Communications, Univerzitna 1, 010 26 Zilina, Slovak Republic
Pavol KUBALA
University of Zilina, Faculty of Operation and Economics of Transport and Communications, Univerzitna 1, 010 26 Zilina, Slovak Republic
Abstract
Background/Purpose: Behavioural finance is a relatively new, but rapidly evolving field that provides explanations of an economic decision-making by cognitive psychology, conventional economic and financial theory. Behavioural finance searches the influence of psychology on the behaviour of financial practitioners and the subsequent effects on the financial markets. The purpose of the paper is the research on behavioural aspects of financial decision-making as they help explain why and how markets might be inefficient. Design/Methodology/ Approach: Fuzzy logic is an excellent tool for working with linguistic variables that are often found when working with behavioural data. Thus, we analyse the financial decision-making process from the perspective of behavioural finance aimed at better understanding of the decision-making process of investors applying the principles of fuzzy logic to solve various financial problems. Results: The results of the study indicate that fuzzy logic is applicable when solving problems of financial management and financial decision-making problems. The urgency of the fuzzy logic application for managerial and financial decisions should be emphasized. Research in this area indicates that in some cases, as in the case of behavioural financing, the use of fuzzy logic is far more suitable than the use of other methods (Peters, Aguiar and Sales). Conclusion: The novelty of the paper is to extend the application of fuzzy sets in the area of financial decision-making. The paper demonstrates that despite the fact, that fuzzy logic is currently used mainly in technical directions, it is applicable also in financial management, especially, in cases where it is necessary to consider the influence of human and the occurrence of linguistic variables. Keywords: behavioural economics; behavioural finance; fuzzy transform; fuzzy sets
Motivation of Knowledge Workers – the Case of Albania
Peter NIENTIED
Polis University, Tirana, Albania, and NCOI University of Applied Arts, Hilversum, The Netherlands
Merita TOSKA
Co-PLAN Institute for Habitat Development, Tirana, Albania, and Polis University, Tirana, Albania
Abstract
Background/Purpose: Very little is known about motivation of knowledge workers in the Western Balkans. There is a widespread belief that money and career opportunities are the most critical motivational factors, but from a pre-study more intrinsic motivational factors also appeared to be important. To develop a better understanding of work motivation, a study was conducted among knowledge workers in Albania, with a special interest in the themes of extrinsic / extrinsic motivation and organizational commitment. Methodology: After a pre-study and a review of theory, two motivation theories (self-determination theory and organizational commitment) and corresponding instruments (Work Extrinsic and Intrinsic Motivation Scale, respectively Organizational Commitment Questionnaire) were selected. A survey based on purposive homogeneous sampling was applied, resulting in 252 valid questionnaires. The internal consistency of the survey data was tested and resulted in acceptable to good levels. Results: The findings show that, when knowledge workers are asked about their motivation, they give answers showing that intrinsic motivational factors are more important than extrinsic motivational factors. The study shows that affective commitment – the core factor of organizational commitment – of the respondents is quite high. Correlation analysis of the data shows that across age, gender and number of years of employment, knowledge workers report intrinsic and introjected motivation and affective organizational commitment. Respondents’ work positions – professional or leadership – also do not significantly correlate with motivation and organizational commitment. Conclusion: Given the results on motivational factors and organizational commitment, organizations need to pay attention to the relationship between enhanced motivation and enhanced productivity. Current transactional leadership styles do stimulate employees on the basis of their intrinsic motivation to enhance their productivity, and should be considered too. Keywords: motivation; self-determination; organizational commitment; Albania; Western Balkans
Occupational Stress, Symptoms of Burnout in the Workplace and Work Satisfaction of the Age-diverse Employees
Maja ROŽMAN
University of Maribor, Faculty of Economics and Business, Razlagova 14, 2000 Maribor, Slovenia
Anastasiia GRINKEVICH
National Research Tomsk State University, Institute of Economics and Management, Lenin Ave. 36, 634050 Tomsk, Russian Federation
Polona TOMINC
University of Maribor, Faculty of Economics and Business, Razlagova 14, 2000 Maribor, Slovenia
Abstract
Background/Purpose: Age diverse employees are faced with different types of occupational stress and different symptoms of burnout when carrying out their work. Therefore, the role of age in job design and implementation of work should not be ignored. The main aim of this paper is to investigate the age differences of occupational stress and symptoms of burnout of employees and to analyze the impact of occupational stress, symptoms of burnout and age on employees’ work satisfaction. Methodology: The paper is based on research that includes a survey of employees in two age groups: younger employees under 50 years of age and older employees between 50 to 65 years of age. Factor analysis was used to form the constructs of occupational stress, symptoms of burnout and employees’ work satisfaction. The non-parametric Mann-Whitney U test was used to test differences in the obtained constructs of occupational stress and symptoms of burnout in the workplace between two independent groups. The multiple regression analysis was used to examine the impact of occupational stress, symptoms of burnout and age on employees’ work satisfaction. Results: The results show there are statistically significant differences in occupational stress and symptoms of burnout in the workplace between older and younger employees. On average, younger employees perceived higher levels of occupational stress and burnout as compared to the older group. Research results also show that occupational stress, behavioral symptoms and emotional symptoms of burnout, as well as age, have a significant impact on employees’ work satisfaction. Conclusion: Managing diversity requires a strategic approach to managing people at work. Therefore, this research adds to the body of knowledge by pointing out the relationship between age and occupational stress and burnout symptoms. Because the role of age in job design has largely been ignored, these relationships have not been studied enough. Keywords: Occupational stress; burnout; symptoms of burnout; age-diverse employees; work satisfaction
