Society and Politics

Nro.1(82)/ 2025

Bożena Radzewicz-Bąk

International Monetary Fund

DOLLARIZATION AS AN INSTRUMENT OF BUILDING ECONOMIC POLICY CREDIBILITY: CONCEPTUAL FRAMEWORK, TRADE-OFFS, AND SELECTED CASE STUDIES

Summary

This article examines the pros and cons of adopting official dollarization[1] as an instrument to build economic policy credibility, discusses the key preconditions for a transition, and outlines the operational considerations involved in implementing such a regime change in countries where policy credibility has been lost due to prolonged macroeconomic mismanagement. Drawing on the case studies of three countries (Ecuador, El Salvador, and Montenegro), the analysis presents diverse pathways toward full dollarization and explores the key rationale behind the decision to relinquish its monetary sovereignty to a trusted external authority. The findings suggest that the main motivation for such a regime shift has typically been the desire to import economic policy credibility, curb inflation, restore macroeconomic stability, and promote greater trade and investment. However, can these be considered entirely successful? The article underscores that while full dollarization can serve as an effective nominal anchor for the exchange rate and monetary policy, it is not a panacea for economic challenges. Rather, it should be seen as a policy framework that, while offering certain advantages, also entails significant costs and constraints, including the loss of independent monetary policy, increased vulnerability to external shocks, and the need to maintain a tight fiscal stance. Consequently, the decision to adopt official dollarization should be preceded by a thorough assessment of the country’s initial preconditions, including its suitability as an Optimal Currency Area and its institutional capacity to implement and manage such transition effectively. Equally important is the unequivocal commitment of public authorities to uphold long-term fiscal discipline and conduct predictable, responsible economic policy in the post-dollarization period.

Keywords: official dollarization, exchange rate regimes, hyperinflation, public debt crises, financial crises, Optimal Currency Area (OCA), monetary policy credibility, macroeconomic stabilization.

JEL Codes: E00

DOI: doi.org/10.34765/sp.0125.a01

Dariusz Socha

Wrocławska Akademia Biznesu w Naukach Stosowanych we Wrocławiu

Norbert Ćwikowski

Wrocławska Akademia Biznesu w Naukach Stosowanych we Wrocławiu

OPINIONS OF STUDENTS OF THE WROCŁAW BUSINESS ACADEMY ON THREATS, BENEFITS AND CHALLENGES IN ENTERPRISE MANAGEMENT – A CASE STUDY

Summary

The article presents an analysis of perceived risks, benefits and challenges related to business management from the perspective of students of Wrocław Academy of Business (WAB). The study aims to investigate the views of future entrepreneurs and managers on the most important elements of running a business, including entrepreneurial characteristics, motivations, perceived barriers and market uncertainty. The study was conducted using a quantitative survey method, with a special focus on the ranking and classification of key business factors. The results emphasize the importance that students attach to autonomy, creativity and risk awareness, and identify capital shortages, legal ambiguities and financial instability as the main obstacles. This study contributes to filling the research gap in understanding the perception of entrepreneurship among young adults and offers practical implications for business education and training.

Keywords: business management, student perception, entrepreneurship, risks, benefits, challenges.

JEL Codes: M00

DOI: doi.org/10.34765/sp.0125.a02

Maria Kocot

Uniwersytet Ekonomiczny w Katowicach

Determinants of implementing industry 5.0 principles in an agile organization in light of own research

Summary

The aim of the article is to identify the key determinants of implementing the principles of Industry 5.0 in agile organizations and to analyze the factors influencing the effectiveness of this process. The study focuses on technological, organizational, and social aspects, including access to modern technologies, innovation culture, workplace flexibility, artificial intelligence integration, openness to change, digital competencies, ecological business approach, and interdepartmental collaboration. A survey method was used, conducted among 303 respondents between April and May 2023. The obtained results were analyzed using multiple correspondence analysis (MCA), allowing for the identification of patterns and relationships between specific determinants. The findings indicate that organizational flexibility, an innovation culture, and the development of digital competencies are key factors supporting the effective implementation of Industry 5.0 principles, while resistance to change and limited acceptance of artificial intelligence pose significant barriers. It was also noted that sustainable development and interdepartmental collaboration require additional educational and promotional activities to increase their importance in transformational processes. The study provides added value by highlighting practical challenges faced by organizations and offering recommendations on change management strategies and digital transformation in the context of Industry 5.0. The results may serve as a foundation for businesses striving for effective adaptation to new market conditions and for further research on organizational agility in the future economy.

Keywords: Industry 5.0, agile organization, MCA analysis, enterprise, survey.

JEL Codes: O10

DOI: doi.org/10.34765/sp.0125.a03

Eliza Nowacka

Akademia Finansów i Biznesu Vistula

Sustainable Development, CSR, ESG - definition, implementation practice and conclusions for the public sector

Summary

Corporate Social Responsibility is defined since 1953 as the activity of enterprises taking into account the aspects of responsibility of the activities undertaken by enterprises in social and environmental issues. Originally voluntary philanthropy, it has gradually evolved into an activity that companies must undertake in accordance with the legal regulations set by the European Union. CSR activities are undertaken for various reasons, some of them are based on the values of the owners or managers who want to involve the company in the implementation of the sustainable development goals, other companies take responsible actions or communicate about taking responsible actions, in the spirit of building the image of a responsible company, and still other companies take actions in the spirit of social responsibility, because they have been forced to do so by legal norms. Sustainable Development is a commitment defined by the UN to the rational satisfaction of human needs, a commitment that applies to countries and at the business level is implemented through, among others, CSR. This chapter presents the basic assumptions of Sustainable Development and CSR and discusses the ESG ratio as a continuation of CSR activities. Next, the chapter defines the phenomenon of socially irresponsible business and black CSR, presenting the practices that will tone down enterprises as part of such activities. In the next part, the author cites examples of specific companies that prepare CSR reports and at the same time apply practices in the field of corporate social irresponsibility. Citing the motives and practices of CSR, is aimed at formulating conclusions for the public sector.

Keywords: Sustainable Development Corporate, Social Responsibility, black CSR, corporate social irresponsibility, impact of the public sector on CSR.

JEL Codes: H10, H83, M14

DOI: doi.org/10.34765/sp.0125.a04

Oliwier Taraszkiewicz

Uniwersytet Gdański

The Influence of Wine in Diplomatic Etiquette: Between Politics, Economics, and Culture

Summary
Wine has played a significant role in diplomacy over the centuries, serving symbolic, political, and cultural functions. In ancient Greece and Rome, it was regarded as a prestigious element and also formed part of political gatherings. During the medieval period, wine played an important role in religious ceremonies and was present at royal courts. In the 19th century, under the influence of Congress of Vienna, wine culture became an integral part of diplomatic practices. The modern diplomatic protocol incorporates wine into ceremonies, toasts, and the selection of beverages, which plays a crucial role in the context of shaping national image. As a form of soft power, wine contributes to building mutual understanding and projecting cultural values. Knowledge of wine has become a valuable asset for diplomats, and its selection and presence impact not only diplomatic interactions but also broader interstate relations, strengthening ties between countries. This article examines how wine connects politics, economics, and culture by analysing both historical and contemporary examples of its use in diplomacy. The methodology applied is based on the analysis of historical sources, diplomatic etiquette, and contemporary practices. The research reveals that wine remains a key element in the diplomatic landscape, playing an essential role in shaping relationships between diplomats.

Keywords: international relations, diplomatic protocol, diplomatic etiquette, cultural diplomacy, wine.

JEL Codes: F50, N40, Z10

 DOI: doi.org/10.34765/sp.0125.a05