Transformations  in
Business & Economics

The Issue Review

JEL classification: Y20.

Europe`s economy is struggling to revive after the largest recession in recent decades. Due to recession EU`s economy slowed down, millions of jobs were lost, millions of people were suffered, and for public finances there were a huge burden, that`s why Member States had to take stringent budgetary constraints. Most of the articles presented in this special Supplement of Transformations in Business & Economics are addresses the various aspects of creative restructuring and its constructive performance, in order to preserve jobs through innovative measures. Therefore, it is important to preface this special issue with a brief overview of economic, political and social transformations.

In Section 1 on economic tendencies in Romania, the articles addressing today`s situation in this country. Since Romania was the fastest growing economy in the EU in some years ago (e.g. huge amounts of money were sent to relatives from Romanians working abroad; foreign investment poured flock here, and cheap credit boom led spending surge), all these achievements had disappeared and now Romanians researchers are looking for reasons, discussing the consequences and looking for solutions.

The second section on labour markets include topics related to employment promotion. The crisis has acquired new forms, but one of the most important issues, which should be solved immediately, is unemployment. A paper discussing about the influence of social responsibility and corporate reputation to employee, an entrepreneurship and the renewables is under analysis as the way to reduce unemployment.

Innovation and business enviroment is the third section in this Issue, which is covering the innovative marketing management strategy for SME`s, the modern Business Intelligence solutions for Lithuanian higher education institutions, perspectives of Lithuanian heritage of the Soviet in cultural tourism industry.

Section 4 discusses the implications for globalization. It relates to the role of real convergence and economic growth expectations in determining the evolution of current account balances in ten Central and Eastern European countries. According to the Millennium Development Goals it was disscusion about possibility for developed countries to reduce poverty of the underdeveloped ones. The analyse of North American futures market should be interesting for market participants performing quantitative market modeling.

The latest trends and tendencies across the European Union and the world are presented in the papers, the fields of discussion are interesting and relevance. I encourage you to read.