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  A Critique Of Definitions in Economics from an Austrian Perspective: Microeconomics

  In the physical sciences, it goes without saying that all practitioners use words in the same manner. A mere verbal dispute would be anathema in this arena of intellectual discourse. There is no dispute, , as to the means of words such as “gravity,” “mass,” “genus,” “species,” “oxygen,” “x-ray,” etc. Matters are not as salutary in the social ... In the physical sciences, it goes without saying that all practitioners use words in the same manner. A mere verbal dispute would be anathema in this arena of intellectual discourse. There is no dispute, , as to the means of words such as “gravity,” “mass,” “genus,” “species,” “oxygen,” “x-ray,” etc. Matters are not as salutary in the social sciences. The present paper is an attempt to place economics, the queen of the social sciences, on a par with physics, chemistry, biology, etc., or at least to make an attempt in this direction. Systematic knowledge, the sine qua non of science, requires good communication. But this, in turn, can only be achieved, if its necessary condition is attained: precise definitions. In the present paper, we discuss in this regard the microeconomic concepts of entrepreneurship, monopoly, derps, indifference, development and rent seeking.

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  Micromanagement in the Organization – as a Form of Control and Management Style

  The article examines the phenomenon “micromanagement” as one of the major disadvantages of management. The characteristics of this style of management and fundamental qualities of micromanagers have been analyzed. Based on the analysis, the causes of micromanagement in an organization and its possible effects on employees’ behaviour and condition ... The article examines the phenomenon “micromanagement” as one of the major disadvantages of management. The characteristics of this style of management and fundamental qualities of micromanagers have been analyzed. Based on the analysis, the causes of micromanagement in an organization and its possible effects on employees’ behaviour and condition have been defined.

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  Àdditional Sevices in Hospitality as a Tool for Enhancing Customer Satisfaction

  The article aims at examining the nature, characteristics and classification of additional services in the hospitality industry. Their role and importance for adding value to the hotel product and increasing customer satisfaction are outlined. Special attention is paid to the modern aspects in offering additional services. The emphasis is on the ... The article aims at examining the nature, characteristics and classification of additional services in the hospitality industry. Their role and importance for adding value to the hotel product and increasing customer satisfaction are outlined. Special attention is paid to the modern aspects in offering additional services. The emphasis is on the effect of introducing digital technology on innovation when offering additional services in the modern hospitality business.