Template-Type: ReDIF-Article 1.0 Author-Name: E. Svoboda Author-Workplace-Name: The Faculty of Regional Development and International Studies, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: New approaches to the solving of economic crisis in business management Abstract: The paper presents the results of the research focused on crisis management, which is based on the process of change management by the author-formulated methodology of the creation, implementation and changes of business strategies and requirements for their improvement due to the incidence of a turbulent management environment and other essential factors. The main factors of crisis and methods of their analysis are formulated. Thereinafter, the strategies of solving crisis situations are formulated. The company Bioveta, Inc. is analysed in detail. The research has proved that companies with modern management need a well-made and working system of crisis management due to their complexity and risks. Keywords: crisis management, algorithm, company life cycle, crisis matrix Journal: Agricultural Economics Pages: 307-313 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/50/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/50/2009-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0001.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:50-2009-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: J. Stávková Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Author-Name: L. Stejskal Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Author-Name: Z. Procházková Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: Application of behavioural economy principles in the grocery market Abstract: The article presents the contribution to the research of questions concerning the price concepts from the point of view of the behavioural economy. According to this scientific discipline, contrary to the neo-classical economy, price is not always the most important factor determining the consumer's purchase decision. The traditional spheres of behavioural approach to price perception have long been the analyses of the purchase processes of electronics and financial market products. Against this conception, the authors propose their own thesis on the possibilities of the behavioural approach utilization in the grocery market. Foodstuff is specific in many aspects, which is given by the fact that food products very often satisfy the very basic human needs. The thesis is backed up by the results of the primary inquiry of 3 520 respondents which has unveiled the fact that the consumer's price perception of grocery products should be more likely examined by the means of behavioural economy than the classical theory of rational choice (homo oeconomicus). The conducted survey showed that the price is surprisingly the least important attribute of food products. Furthermore, after divisioning the addressed consumers into groups by their age or by the achieved education level, the percentage share of those who answered that price is very important when choosing grocery products was very fluctuating. The traditional neo-classical approach assumes a consistent or eventually increasing importance (in the case we accept the presumption that the consumer's ability to decide rationally increases with a higher education level achieved). All findings of the primary inquiry then showed to be inconsistent with the traditional theory and in the author's opinion, the behavioural research in the field of food markets has proven to be highly relevant. Keywords: consumer behaviour, functions of price, purchase of groceries, behavioural economy Journal: Agricultural Economics Pages: 314-320 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/52/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/52/2009-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0002.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:52-2009-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: H. Chládková Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Author-Name: P. Tomšík Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Author-Name: S. Gurská Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: The development of main factors of the wine demand Abstract: The paper identifies and analyses the main factors which influenced the wine demand. The average annual wine consumption per capita is the basic factor of the wine demand. The average annual wine consumption, one of the wine demand factors, grew between 2003 and 2007 from 16.3 l to 18.5 l per capita. Following this trend, we can expect the average annual wine consumption 19.0 l per capita in year 2010. A positive feature of this development is also the fact, that there grows the demand after the quality wines. At the same time, there grows also the consumption of the lower quality, cheap wines packed in boxes or PET bottles. A continuously growing tendency can be also noticed in the red-wine consumption. This change of consumer preferences has significantly influenced the growth of the share of the red varieties in the new-planted vineyards. However, there are critical factors in the development of the demand for wine demand here. Specifically, it is the daily feasible ration of alcohol in wine and other alcoholic drinks, especially beer that we can treat as the substitute of wine. The average annual beer consumption moves about 160 l per capita in the Czech Republic. The continuously growing tendency of wine consumption is reduced by the lower price of beer too, because beer is the cheapest alcoholic drink in the Czech Republic. The taste and preferences of consumers have been changing, that means, that the consumers are the ones who decide about the wine quality, and not producers. That is why this paper includes the partial results of the research oriented on the habits and behaviour of consumers in the wine market in the Czech Republic. It is concentrated on the wine sellers opinions on demand development in the wine market. Keywords: wine, wine production, wine demand, wine consumption, consumer preferences Journal: Agricultural Economics Pages: 321-326 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/58/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/58/2009-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0003.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:58-2009-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: P. Svoboda Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: Goodwill - the recognition and measurements according to the European accounting legislation and the international financial reporting standards Abstract: The paper is concerned with the comparison of the approaches of the chosen European accounting legislation to the initial recognition and measurements after the recognition in case of goodwill and badwill (respectively acquisition differences) with approaches used by the IAS/IFRS. There are compared strengths and weaknesses of the individual approaches. The main problems are defined and solved. The paper is also concerned with the date significant for the acquisition and goodwill calculation. Keywords: acquisition, intangible fixed assets, goodwill, badwill, appraisement, fair value Journal: Agricultural Economics Pages: 327-334 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/59/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/59/2009-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0004.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:59-2009-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: P. David Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: Aspects of the value added tax within the self assessment system and the extended guarantees for the provision of services in the countries of the European Union Abstract: The rules of the European Union suppose the value added tax as the only general excise tax. The need for harmonization of this tax in the existing EU member states is obvious, but the results in this field are not entirely convincing. Also the provision of services is a problematic field among others in the implementation of value added tax. It is essential to examine the issue of the value added tax, in this case, both the possibilities of the use of the self assessment system of the value added tax by the recipient of the service compared to the accounting of service including the value added tax by a provider of this service, even if the provider of service from the EU member state shall have a permanent establishment in other member state of the customer, but this establishment is not involved in the provision of the service, as well as the inclusion of services within the so-called extended guarantee to the taxable or exempt fulfilment, when the subject provides the technical support and the assistance to its customers, such as in the case of failures of agricultural machinery, which the provider had supplied to a subject in other member state. On the basis of empirical research, it is needed to assess the results of the harmonization efforts, to identify and recommend the direction in which the European Union should take in this field. The comparison of the individual European Union countries is important here. Value added tax is, regarding its features, still an unsurpassed excise tax, even if it has some weaknesses. The technique of the selection of this tax enables to discover the paid tax at all stages of treatment and it is very appropriate, due to its features for the use in international trade. It is therefore necessary to ensure the sufficient clarity, lucidity and equal conditions for players from the European Union on the basis of the development and adaptation of the rules of the value added tax set at the European Union level within each European Union country. Keywords: VAT, services, self assessment system, extended guarantee, EU Journal: Agricultural Economics Pages: 335-346 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/590-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/590-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0005.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:590-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: J. Poměnková Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Author-Name: S. Kapounek Author-Workplace-Name: Faculty of Business and Economics, Mendel University of Agriculture and Forestry, Brno, Czech Republic Title: Interest rates and prices causality in the Czech Republic - Granger approach Abstract: Monetary policy analysis concerns both the assumptions of the transmission mechanism and the direction of causality between the nominal (i.e. the money) and real economy. The traditional channel of monetary policy implementation works via the interest rate changes and their impact on the investment activity and the aggregate demand. Altering the relationship between the aggregate demand and supply then impacts the general price level and hence inflation. Alternatively, the Post-Keynesians postulate money as a residual. In their approach, banks credit in response to the movements in investment activities and demand for money. In this paper, the authors use the VAR (i.e. the vector autoregressive) approach applied to the "Taylor Rule" concept to identify the mechanism and impact of the monetary policy in the small open post-transformation economy of the Czech Republic. The causality (in the Granger sense) between the interest rate and prices in the Czech Republic is then identified. The two alternative modelling approaches are tested. First, there is the standard VAR analysis with the lagged values of interest rate, inflation and economic growth as explanatory variables. This model shows one way causality (in the Granger sense) between the inflation rate and interest rate (i.e. the inflation rate is (Granger) caused by the lagged interest rate). Secondly, the lead (instead of lagged) values of the interest rate, inflation rate and real exchange rate are used. This estimate shows one way causality between the inflation rate and interest rate in the sense that interest rate is caused by the lead (i.e. the expected future) inflation rate. The assumptions based on money as a residual of the economic process were rejected in both models. Keywords: exogenous and endogenous money, transmission mechanism, Taylor rule Journal: Agricultural Economics Pages: 347-356 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/2/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/2/2009-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-200907-0006.txt Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:2-2009-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: J. Stávková Title: Faculty of Business and Economics of the Mendel University in Brno celebrates the 50th anniversary Journal: Agricultural Economics Pages: 357-359 Volume: 55 Issue: 7 Year: 2009 DOI: 10.17221/46/2009-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/46/2009-AGRICECON.html File-Format: text/html Handle: RePEc:caa:jnlage:v:55:y:2009:i:7:id:46-2009-AGRICECON