Template-Type: ReDIF-Article 1.0 Author-Name: Blanka Bártová Author-Name: Vladislav Bína Title: Early Defect Detection Using Clustering Algorithms Abstract: Product quality is a crucial issue for manufacturing companies, so it is essential to take note of any emerging product defects. In contrast to the use of traditional methods, the “modern” constantly evolving data mining methods are now being more frequently used. The main objective of this paper is to detect the potential cause or the area of the production process where the majority of product defects arise. The dataset from the semiconductor manufacturing process has been used for this purpose. First, it was necessary to address dataset quality. Significant multicollinearity was found in the data and to detect and delete the collinear variables, correlations and variance inflation factors have been used. The MICE-CART method has been used for the imputation because the original dataset contained more than 5% of random missing values. In further analysis, the K-means clustering method has been used to separate the failed products from the flawless ones. Following this, the hierarchical clustering method has been used for the failed product to create groups of product defects with similar properties. For the optimal number of clusters, the determination of the BIC method has been used. Five clusters of products have been made although only three can be classed as important for further analysis. These groups of products should be directly subjected to the analysis in the production process, which can assist in identifying the source of scarcity. Keywords: VIF, quality management, product quality, MICE-CART, manufacturing, data mining, clustering Classification-JEL: C38, C44, D24, L15 Pages: 3-20 Volume: 2019 Issue: 1 Year: 2019 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=613.pdf File-URL: http://www.vse.cz/aop/613 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2019:y:2019:i:1:id:613:p:3-20 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/613 Template-Type: ReDIF-Article 1.0 Author-Name: Uwe Bergold Title: Macroeconomic Cycle Made Visible in Real Terms as Protection against Asset Illusion Abstract: The current historically unparalleled global debt crisis and the resulting momentous valuation anomalies notably affecting the stock and bond markets (the historically low-interest rate level) are making it increasingly difficult for both institutional and private asset managers to generate an actual yield above the inflation rate. The problems with building wealth, and hence with pensions plans, first began at the turn of the millennium when the burst of the largest stock market bubble of all time firmly put the price distortions of assets into the public eye. This milestone also marked the beginning of a secular bust phase, which has been on a real gradual downtrend and despite nominal price increases is still ongoing today. However, this problem only becomes visible upon real evaluation, in ounces of gold. Contrary to the ubiquitous nominal view in uncovered paper currencies, only this real view, valued in ounces of gold, protects both private and institutional investors from an illusion of wealth. Keywords: inflation, gold, global debt crisis, stock market bubble, asset illusion, monetary units of measure, boom and bust cycle, Shiller P/E Ratio, paper currencies Classification-JEL: E32, E50 Pages: 21-31 Volume: 2019 Issue: 1 Year: 2019 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=614.pdf File-URL: http://www.vse.cz/aop/614 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2019:y:2019:i:1:id:614:p:21-31 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/614 Template-Type: ReDIF-Article 1.0 Author-Name: Martina Korecká Title: Labels Referring to Czech Origin Abstract: The globalisation of markets leads to increased competition and the commodification of products. Research has led to growing customer interest in the Country of Origin (COO) when buying grocery. The COO is one of the crucial aspects of buying decisions and can provide a competitive advantage to local producers when differentiating from foreign rivals on the Czech market. However, there are labels where the COO have different conditions for branding. The aim of the article is to analyse COO labels and the quality referring to Czech origin in selected domestic grocery. The COO conditions serve as an evaluation criterion for labels. A descriptive and comparative analysis is used to achieve the goal, with each label examining the conditions for branding in relation to the COO of products. The source of information of the labels was the methodologies, regulations, the bulletin, website and rules for branding. In the case of inadequate information on the COO conditions, the data was acquired by interview or e-mail. The result of the analyses is the comparison of the COO and quality labels in terms of the product origin criterion. The final table summarises the results of the analyses and provides a preview of the situation of the labels on the Czech market. The results indicate that a number of labels refer to the COO by graphic design and the term. However, the COO of the product is not a primary criterion for branding. As the results show, the situation in the Czech market may be unclear. Primarily, labels do not have to state the COO or to be a quality identifier. Labels of the COO and quality are often purpose-designed by government, and profit or non-profit entities to highlight product parameters. Keywords: consumer behaviour, COO, label, Czech origin Classification-JEL: M31, M37 Pages: 32-49 Volume: 2019 Issue: 1 Year: 2019 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=615.pdf File-URL: http://www.vse.cz/aop/615 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2019:y:2019:i:1:id:615:p:32-49 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/615 Template-Type: ReDIF-Article 1.0 Author-Name: Věra Králová Author-Name: Pavel Král Title: Performance Myopia: The Effect of Pay-For-Performance Incentives on Exploration and Coordination Abstract: Incentives are one of the core practices of strategic human resource management and their effect on motivation and performance has been studied extensively. Particular attention is devoted to pay-for-performance (PFP) incentives while research on the effect of PFP incentives on performance has produced contradictory results. More importantly, incentives are not an isolated process; the effect of incentives goes beyond individual or organisational performance because they affect an entire organisation. Although incentives are included in most organisational design frameworks, the effect of incentives on other organisational design components has been neglected. The study uses the organisational design framework to focus on neglected relations between incentives and other organisational design components. The purpose of the study is to explore what are the organisational design components and how they are influenced by PFP incentives. A case study research design was used. The data was collected in a small company in which the incentive system was changed to PFP incentives as a part of substantial changes in the organisational design. Data was collected through interviews with employees, supported by internal documentation and observation. Thematic analysis was used to analyse the data. In the case, the PFP incentives led to higher performance although the PFP incentives restricted the new exploratory strategy and harmed cooperation. The effect of the PFP incentives on exploration and cooperation was slow, and hardly visible, predominantly as a result of unintentionally deviated attention. The study points out that focusing solely on performance when designing incentive systems may be myopic because PFP incentives may have a detrimental effect on other organisational design components. Based on the results, the paper provides a set of suggestions to consider when implementing PFP incentives. Keywords: incentives, pay-for-performance, exploration, coordination, organisational design, cooperation Classification-JEL: M12, M52 Pages: 50-69 Volume: 2019 Issue: 1 Year: 2019 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=616.pdf File-URL: http://www.vse.cz/aop/616 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2019:y:2019:i:1:id:616:p:50-69 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/616 Template-Type: ReDIF-Article 1.0 Author-Name: Iveta Musilová Title: The Relationship between Strategy and Competitiveness in Breweries - A Pilot Study Keywords: competitiveness, breweries, socio-cultural environment, business strategy Classification-JEL: L10, L21, M10, M20 Pages: 70-88 Volume: 2019 Issue: 1 Year: 2019 File-URL: http://www.vse.cz/aop/download.php?jnl=aop&pdf=617.pdf File-URL: http://www.vse.cz/aop/617 File-Format: text/html Handle: RePEc:prg:jnlaop:v:2019:y:2019:i:1:id:617:p:70-88 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlaop/references/617