Dariusz Tomasz Grala

• PhD MFA
• ACBP Dip. Financial Controller (CFC). Member of the International Association of Controllers (ICV) at Angelus Silesius Academy of Applied Sciences

dr Dariusz Grala IKBT Poznań Słowa kluczowe: czynnik produkcji, efektywność, praca, kapitał, ceny. Key words: production’s factor; productivity; labor, capital, price Tytuł Kondycja gospodarcza Polski na tle europejskim w latach 1990 –2004 ze względu na wykorzystanie czynników produkcji Summary During the period of transition, Poland came across...

As the authors of this collection, we offer you a book that is a history and economic analysis of selected companies from various sectors of the Polish economy, whose development during the transformation period was above average. We show on the example of medium and large companies that although many business initiatives transformed into commercia...

Economic reforms of the 1980s were the last major undertaking in the sphere of economy in the history of PRL. According to the authorities, they were supposed to lift the country from the crisis in which PRL found itself after Edward Gierek's period of intensified industrialization. The focus of attention is the analysis of the main problems of the...

The main purpose of the dissertation is to assess the risk of bankruptcy of Fasing SA, i.e. to examine the risk of a financial collapse of the company using a set of five discriminatory models in relation to the capital group and the parent company in the group of the Fasing SA family enterprise against the market in the form of three other compani...

The aim of the lecture is to present issues related to the planning and budgeting process in enterprises, to familiarize with the methods of financial planning with the basics of budgeting used in the Polish People's Republic in the years 1982-1989, then to compare with the planning procedures developed in the 21st century in Poland in corporations...

The purpose of the presentation is -approximation of the MC-MR model of the economic optimum from managerial economics - ratio analysis based on the modernized Du Pont model - cash conversion cycle measurement (CKG-OKG) as a consistent tool with the Du Pont model - exercises in Excel with the Du Pont model on authentic data from financial statement...

Thirty ministries and central offices were militarized, each with one military commissar and 10-15 officers, and 1,160 major workplaces. About 8,000 people (military commissars) were sent to militarized plants. The militarization of the economic sphere took place on the basis of two legal acts: resolution no. r. KOK on attorneys-commissioners of th...

At the beginning of the systemic change in Poland, the HCP company had a huge output. The wealth of HCP consisted of huge fixed assets and intangible assets of the company and its over 18,000 employees. However, what was an asset in the era of the communist system, i.e. significant production assets and a commercial brand developed and recognizable...

At the beginning of the systemic change in Poland, the HCP company had a huge output. The wealth of HCP consisted of huge fixed assets and intangible assets of the company and its over 18,000 employees. However, what was an asset in the era of the communist system, i.e. significant production assets and a commercial brand developed and recognizable...

The main purpose of the paper is to show the birth and development of technological enterprises using high technology (HT) and key enabling technologies (KET) in the conditions of deep systemic changes in Poland and in the new federal states of Germany in the 1990s. industrial new technologies in Poland and East Germany before the fall of communism...

The study focuses on the analysis of family entrepreneurship initially located in the small business of the Jerzy and Małgorzata Wiśniewski family from Wysogotowo near Poznań in 1994. At the heart of the research is the figure of the entrepreneur Jerzy Wiśniewski and his model of entrepreneurship. In the main part, the author, by presenting as deta...

Monograph: The First "Solidarity" Genesis, Organization, Contexts, edited by Piotr Brzeziński, Institute of National Remembrance, Gdańsk 2022.--- This study shows the impact of the Solidarity movement on the economy in various respects to determine whether its impact on the economy was more destructive or reconstructive. I understand as destruction...

The communist authorities of Poland in the analyzed period, taking into account the complicated credit relations with banks of capitalist countries and the tense relations with the countries of the Soviet camp, were convinced of the necessity of the Polish People's Republic to join the IMF and the World Bank. In the period 1981-89 the fate of the P...

Risk and uncertainty accompany any human activity. Even by not doing anything at a given moment, you also risk, for exemple, because others will just do something that can gain an advantage over us or simply eliminate us, if we take part in a game where there is not only the option of different payouts, but also elimination from game. Risk can be r...

The aim of the work is to analyze the shares of companies from the automotive industry represented on the Warsaw Stock Exchange in the WIG -Moto industry index in terms of the volume and value of instruments trading, rates of return, investment risk at the moment and three years back in 2018. The last goal of this analysis is an assessment of inves...

Showing the direct and indirect causes of strikes and social protests against market reforms (in the minds of the majority of the society identified in the so-called Balcerowicz plan - the program of economic stabilization and transformation and its implementation in legal acts in the 1990s). In Polish law, the provisions regulating strikes were in...

In the economy of the Polish People's Republic in the field of agriculture, the key resources which were a subject of competition included: land; production assets (ma-chines, devices, tools for agricultural production, fertilizers, plant protection chemicals) and people necessary to work on farms and for farms. The command economy of the times of...

The market that we present is extremely dynamic in terms of growth rate. Currently produced renewable energy technologies in the field of convectors, collectors and solar panels allow to produce energy on site or in the immediate vicinity of a household or farm almost throughout the entire calendar year. As part of the execution of projects, the se...

Keywords: recovery program, economic mission, membership of the IMF, debt crisis The aim of this paper is to present the issue of the influence of IMF and WB experts on the decisions and course of reform measures in Poland in the years 1985–1989, that is until the fall of the last government of communist Poland, Prime Minister M. Rakowski. It was o...

The analysis focuses on identifying the scale of exchange rate fluctuations 5 years before the collapse of Lehman Brothers and 5 years after the collapse of this bank in the United States. The study covers the volatility of exchange rates and rates of return on currency pairs, as the volatility of the PLN / CHF, PLN / EUR and PLN / USD exchange rat...

The report includes a draft risk management card for operating, investment and financial activities for 2018-2027 for the PKN ORLEN Group as of March 2018. The analysis covers the following management levels: - strategic; - tactical; - operational and such business segments as: crude oil processing, storage and transport of petroleum products, who...

The presentation covers four tasks that show the practical application of the break-even point calculation in a manufacturing company in the field of door production. The tool related to the CVP account is very useful in the calculation of coverage margins and safety margins in any company

The purpose of this study is to analyze a brokerage recommendation in terms of its usefulness for making investment decisions in relation to specific securities listed on the Warsaw Stock Exchange. The valuation procedure of the company is subject to the discounted cash flow method and the comparative method. On February 13, 2020, the recommendatio...

Cel: badanie potencjału finansowo-ekonomicznego rynku dla potrzeb działu sprzedaży. Kształtowanie się wybranych wskaźników makroekonomicznych Irlandii w latach 2000-2015 na tle Unii Europejskiej (PKB per capita, stopa realnego wzrostu PKB, handel zagraniczny w relacji do PKB jako % PKB, wskaźnik bezrobocia, wskaźnik inflacji CPI). Wstęp Celem ninie...

Celem niniejszej pracy jest możliwie obiektywnie ukazanie rezultatów polityki fiskalnej i monetarnej przy pomocy wskaźników makroekonomicznych ilustrujących skutki prowadzonej polityki. Dla oceny polityki fiskalnej przyjmuje się do badania: poziom deficytu/proficytu do PKB, poziom zadłużenia wewnętrznego do PKB (dług publiczny) oraz poziom wydatków...

The aim of this paper is to present the issue of the influence of IMF and WB experts on the decisions and course of reform measures in Poland in the years 1985–1989, that is until the fall of the last government of communist Poland, Prime Minister M. Rakowski. It was only in mid-1981 that the concept of preparing an application for renewed membersh...

MBA courses were started in 1989. At the time, in 1990, only 4 schools conducted management courses profiled at MBA level. The first recruitment for MBA studies took place in autumn in October 1989 in Warsaw - course organized by prof. A. Koźmiński representing the International School of Management at that time in Warsaw. In June 1991 were issued...

The aim of the work is to effectively protect a manufacturing and trading company against currency risk in its payment transactions in foreign trade by developing and testing effective hedging strategies using currency options in a risk calculation model. The final financial results of the enterprise are mostly influenced by foreign markets, in par...

Analysis of the financial condition of BRIJU SA compared to companies from the jewelry industry in the years 2011 - 2013 - recommendations for the Management Board Polish entrepreneurs have a tradition of several hundred years of goldsmithing and the production of decorative products. The jewelry market is developing dynamically and we see a system...

Sample analysis from the controller's workshop. The country's rating is prepared on the basis of a summary of the results of the calculated country risk in three main segments:  Political risk,  Economic risk,  Financial risk The methodology of the calculated rating was based on the guide of The PRS Group International Country Risk. It is a rati...

The initiative to create companies with foreign capital in People's Poland was derived from the experience of Yugoslavia and Hungary. Cooperation with businessmen of Polish origin suited the state authorities in both propaganda and pragmatic terms. The entrepreneurs from PPZ organized their companies in terms of organization, following a Western pa...

In this report, two major fuel companies on the Polish petrochemical market have been analyzed. The analysis was commissioned to assess the financial condition of both market players and to consider the potential merger of these companies, the process of which was initiated in 2018 by the owner of controlling stakes in the State Treasury. In 2018,...

Analysis of the financial condition of the Mispol capital group in the years 2003 - 2005 in relation to market competition - profitability --------------The purpose of this financial and economic analysis is to examine the profitability area of the Mispol capital group in comparison to its two largest competitors in the market segments on which thi...

Bart Verspagen's technological gap model in relation to the problem of the technological gap in the Polish economy in the period of transformation after 1989. ---------------------Resume------The presented model is based on the analysis of differences between countries in relation to the technological possibilities of the economy. The level of know...

Integration winners and losers. Share of companies from new European Union member states in the group of 500 largest European enterprises before and after the EU enlargement in 2004 ----the presentation shows the position of enterprises from the region of Central and Eastern Europe on the European market in terms of market capitalization and revenu...

The economic position of Poland against the European background in the years 1990–2004 due to the use of production factors-----------This congress presentation is a summary of the research results shown a year earlier in a scientific article of the same title regarding the use of the classic triad of production factors in the Polish economy compar...

Horizontal and vertical analysis of the balance sheet and the profit and loss account on the example of historical financial data the Warsaw Stock Exchange Group based in Warsaw - workshops on financial analysis---The goal of the workshop is to train students in developing financial analysis of the balance sheet and income statement by discussing t...

Comparative method on the example of the valuation of shares of NITROERG S.A. as at 31.12. 2017 -- The purpose of the expertise is valuation the relative value of the Company using a comparative method according to Capital market ratios (multipliers) at the end of 2017. In fact, this value is derived from the market value of shares of companies lis...

Valuation of a company from the gaming industry made according to the income method. Market data as at the end of 2017. The valuation used a spreadsheet recommended for valuations by lecturers at the New York Stern Business School. The detailed design of the worksheet is the work of the author of this valuation by dr Dariusz Tomasz Grala. In Januar...

1.5. Funding of the enterprises development at the beginning of the Second Polish Republic, in the years 1918-1921 The matter of forming of interest rates and costs of credits in the times of functioning of the Bank of Poland as the central bank of the state, has been well recognized and described for the years 1924-1938. The beginning of the Secon...

The value of the valuation of a given company, regardless of the method adopted and the diligence of calculations in the model, very often may not reflect all risk factors or potential profit opportunities occurring in the company. Some adjustments in the form of premiums and discounts can be a way to take them into account before final announcemen...

The problem is presented from the perspective of an investor from Poland or investing in Poland. The value of the valuation of a given company, regardless of the method adopted and the diligence of calculations in the model, very often may not reflect all risk factors or potential opportunities occurring in the company. Some adjustments in the form...

Co-operative banks, which played an important role in supplying basic finacial services to the rural population of communist Poland, underwent heavy legal and organizational changes after 1989. Today they targets extend beyond rural areas to small and medium cities, and to almost all strata of thair population. They transformed from credit cooperat...

an example of financial analysis for the company's board

The January Uprising occupies a significant place in the history of Poland. The magnitude of this uprising is not related to the rank of battles fought, campaigns, or because of the participation of select, regular army regiments in the fight. No great battles were fought. There were also no brilliant campaigns during this war, nor did regular regi...

prezentacja ukazuje kulisy powstania i rozwój przedsiębiorstw polonijno-zagranicznych w PRL od 1976 do 1990 ze szczegolnym naciskiem na lata 80. XX w. Wkrótce bedzie pełen artykuł na bazie wykładów i konferencji naukowej w Instytucie Pamięci Narodowej w Gdańsku

The aim of the project is to evaluate the profitability of investment in the purchase of two apartments located in the Molo RO building. They are located in Gdynia, in the Orłowo district, directly adjacent to the beach, near the Orłowo Cliff. The building complex is new (under 10 years old) and has modern architecture. On the premises there are pa...

Strategia zarządzania kapitałami obrotowymi na przykładzie KGHM SA. (2008-2012) Celem analizy jest zidentyfikowanie strategii zarządzania kapitałami obrotowymi netto (dalej KON) jednego z największych producentów miedzi na świecie spółki KGHM Polska Miedź. Zakres czasowy pracy dotyczy lat 2008-2012. Przedmiotem badania są sprawozdania finansowe spó...

zapraszam do współpracy w aspekcie badania i wyceny wartości przedsiębiorstwa różnymi metodami dochodowymi i majątkowymi oraz opartymi na mnożnikach.

This project includes a task from a risk map (risk matrix) in the 4x4 dimension in the field of operational, investment and financial activities for 2018-2027 for the PKN ORLEN Group as of March 12, 2018, taking into account the analysis levels indicated in the risk management card prepared for the same period of time. The draft takes into account...

Granice lewarowania korporacyjnego na przykładzie analizy finansowej spółki zależnej Pandora Jewelry CEE Sp. z o.o. za lata 2010-2015---------------- Niniejsza praca jest analizą naukową przedsiębiorstwa prywatnego z branży jubilerskiej w oparciu o dane ze sprawozdań finansowych badanego podmiotu ujawnionych w KRS oraz danych z baz danych EMIS. Pol...

This study includes the elaboration of an overall strategy design and an analysis of its feasibility based on the use of strategic management tools. The work was created during a strategic management workshop under the supervision of Dr. Adam Weinert. The research object is a family enterprise from the metal industry with a specialization focused o...

Streszczenie Rząd PRL utracił zdolność de regulowania bieżących zobowiązań kredytowych wobec zagranicy w marcu 1981 r. Informacja o tym fakcie przekazana bankom zachodnim oraz dyplomatom była dużym zaskoczeniem dla obserwatorów zachodnich oraz polityków państw kapitalistycznych. Gabinet gen. Jaruzelskiego starał się uspokajać kierownictwo banków wi...

Controlling in a construction company is needed for many reasons: we have a variable risk of providing services; variable financial flows and practically every financial period other than the previous one, different scope and period of project implementation, seasonality in construction and assembly production, performance of works only in the proc...

The Management Board of PKN Orlen has gained extensive experience in acquisitions of companies in Poland and abroad. He had an experienced team of managers and partners from banks and consulting companies in 2006. In the years 2000-2004, PKN Orlen, despite its organic development, lagged behind competitors in the region, both in terms of operationa...

Analysis of the value at risk in the VaR model using the historical simulation method and the parametric method on the example of considering the position of the PLN - MXN currency pair during the test period 24/06/2015 - 10/11/2016 and checking the VaR model using the Paul Kupiec test -- summary --The aim of this study is to examine the financial...

BZWBK SA SWOT analysis and Porter's 5 forces „diamond model” as at the end of 2015 The material concerns training in strategic analysis on the example of a large commercial bank. The tools used are simple to use and give important recommendations for the needs of creating development strategies

This presentation to the lecture on foreign trade and economic development shows from many perspectives: historical, economic and business theory, how important is for the development of the wealth of the societies of individual countries free trade, not limited by customs barriers and other barriers, which are to implement the political interests...

The areas of activity crucial for creating the competitive advantage of the examined enterprise. The key areas are improved media outreach and customer service, not only for top-end Welth Management users, but above all for the middle class. At HSBC, private banking and asset management services for premium customers contribute the most to creating...

The purpose of the speech is to show the importance of joint-stock companies from the Poznań Voivodeship on the Warsaw Stock Exchange market, to show the possibility of obtaining financing by issuing shares on the WGP in the 1920s. The subject of the analysis is a group of companies from the province Poznan western borderlands and their shares issu...

Austrian banking in Poland under the Austrian partition, in interwar Poland, Polish People Republic and Third Republic.

Chapter 2.1. The study concerns the history of the business development of "Bartimpex", a key economic entity in commercial relations between Poland and Russia in the 1990s. The enterprise of one of the most famous businessmen in Poland, Aleksander Gudzowaty, dealt with barter operations, i.e. the import of natural gas to Poland from Russia and int...

this study is part of Chapter II: Bottom Privatization - the development of private enterprises after 1989. The first version of this work was presented at Collegium Civitas in 2007 during a scientific conference on business leadership. With this post I would like to pay tribute to the wonderful man, business leader Jerzy Wiśniewski, who despite nu...

Flooding is a typical atmospheric phenomenon in Polish lowlands. Floods of 1997 and 2010 had touched areas in the upper reaches of the Oder and Vistula rivers. In 1997 flood wave had overflowed several cities along Oder, including their industrial centers. In flooded cities four Warsaw Stock Exchange listed enterprises had suffered from important d...

A study in the field of experimental economic history. During the analysis, a test of two issues and scientific problems was carried out. First question: was it possible in the realities of state socialism to implement economic reforms begun in 1981? The second question concerns the effects of implementing such economic reforms that were implemente...

In the beginning of the 90’s, most of the trading was made by state entities. Private entities contributed only to 5% of exported goods and 15% of imported goods. Private enterprises sold 7% of goods to the first payment area (former socialist and Comecon countries) and imported 5% from them, and sold 5% of goods to the second area and imported 16%...

Summury The subject of research are the economies of the 10 new EU countries that joined the Community in 2004 and 2007. Chronological range 2005 - 2010, i.e. the period covering the short-term effects of integration and the global financial crisis. The study used think tank rankings analyzing the prospects of economies in many aspects (Euromoney c...

From the Soviet bloc to the European Union. Economic and social transformation of Middle Eastern Europe. What is revealing in the book of prof. Ivan Berend? I present to you the main ideas and structure of the book, theses and the most important values - the conclusions of Ivan Berent's monograph. I had the pleasure and honor in 2011 to be the scie...

Why did it fail? Economic reforms of the People's Republic of Poland in the 1980s This presentation was an addition to the lecture given in January 2012 at the Institute of National Remembrance. The presentation contains a collection of findings and conclusions from five years of scientific research for the doctoral dissertation published as a scie...

"Research on the history of economic reforms in Poland after 1989. Research goals, objects and methods" -- Various scientists deal with the issues of economic reforms fields of modern science. The sphere of reform is of particular interest macroeconomists who work in government organizations or on their behalf. However, in addition to economists an...

Ukraine is a close neighbor of Poland and one of the most important economic partners in the East - the second market after Russia in 2010. In the foreign policy of the Republic of Poland and Ukraine, they shared common issues and goals - therefore, in the first decade of the 21st century, a good political climate was created for the business activ...

Gospodarczy wymiar turystyki, red. E. Kościk, Wyd. GAJT, Wrocław 2011,-------vol.VI The development of a „trade tourism” of post – Soviet states’ citizen in Poland during 90-ties of the 20th century. Sources, extent and influence of this phenomenon in changing markets------------ The study concerns the „trade tourism” defined as visiting foreign co...

Sensus Historie 2011 ------Export and Foreign Direct Investment Polish Firms to Russia and Ukraine befor and after Russian Financial Crisis in 1998--------------------The main objective of his paper is foreign trade and FDI between Poland and Russia and Ukraine in period 1992 - 2006. Before russian crisis in 1998 the position of polish firms on rus...

An attempt to reform the economic and financial system of the State Farms in the 1980s ----- This work analyzes changes in the economic and financial system of the PPGR in the context of changes in production and productivity in the agricultural sector during the major economic reforms of the People's Republic of Poland in 1982-1989. The economic a...

Impact of orders of the Ministry of Defense on the modernization of the armed forces and the rate of production growth in Poland in the years 1995 – 2006 Summary The main purposes of this article are: showing the problem of modernization of the Polish army during the system transformation, explaining the need to replace armaments and military equip...

The brand products of Poznan in time of economic transformation recognizable in Poland and in the world ---------------The article presents changes brands value of Poznań companies in time of economic transformation. The main aim of work was investigation value of Poznan brands on the basis of reports The ranking of the most valuable Polish brands...

Polityka 2010, nr 14, wydanie specjalne Dekada Gierka. Polska i Polacy między Grudniem’70 a Sierpniem’80. Seria Pomocnik Historyczny, s. 54-59. Introduction to the main problems of the development of the People's Republic of Poland in the form of popular science reflection. The study analyzes the systemic principles of the centrally planned economy...

In this study, I will focus on the analysis of E. Kwiatkowski's publications from the 1930s, in which he lectured on elements of his vision of modernizing the Polish economy. Theoretical reflection was an important factor in the practical activities of Deputy Prime Minister Kwiatkowski, who tried to implement his concepts for the development of the...

Market reforms and the issue of opening the economy to foreign competition - Poland against the background of eastern European countries in the first half of the 1990s The opening of the Polish economy was considered in two ways: firstly in the aspect of Polish regulations abolishing import and investment barriers to foreign entities. Secondly, in...

The Expansion of Enterprises from Poland in the Baltic States before and after the Enlargement of the European Union in 2004 Resume I understand expansion as a process of expanding business operations by enterprises. The company's ability to expand into foreign markets during the period of the beginning of the 21st century is treated as a better ma...

The Recreation of the Private Sector in Conseptions of Economic Reforms in Poland in 1989 The porpose of this article is to demonstrate the way in which the authors of market reform projects intended to resolve the problem of the creation of the private sector, privately owned enterprises in an economy that was to be based on market relations.The i...

The study showed that a successful transition from the command economy to the market system in Poland was possible by overcoming a number of barriers to economic backwardness. The most important factors behind the breakthrough were: the explosion of entrepreneurship, departure from administered prices, rationing of goods and raw materials, central...

In the article, the author's conclusions on the latest history of the economy were presented. Specific problems, determinants in working with economic sources, recommendations for increasing the competences of the historian of the economy with additional non-historical knowledge and highlighting the benefits that result from the researcher's exten...

The attempt of a state modernization in 1987 – 1988. Why and for whom the second phase of the reform was prepared? The article present the reasons of creation of the economic program called „The second part of an economic reform” and colletion of business connected with this program. The analysis belongs to the current of a history of the economic...

An interview for the Institute of History of the Polish Academy of Sciences in Warsaw, 2008 I. Do you see topics that have been omitted so far in the history of the People's Republic of Poland? We would like to ask for research postulates DG: The topics so far omitted or marginally implemented include: - histories of individual state-owned enterpri...

Ukraiński Żurnal - 7/2008, s.30 -32.------------------------------------------The prelude to the great ownership changes in Poland were the governments of Mieczysław Rakowski, who actually marketed real socialism as the last communist prime minister. During the spring of 1989, when the Round Table was still ongoing (February 8, 1989 - April 5, 1989...

SPRAWY WSCHODNIE 2008 (1/2), S.15-25.-----------------In Central and Eastern Europe at the turn of the 1980s and 1990s, market reforms were carried out to dismantle the command system by various methods. In this work, I show the efforts of three leaders who adopted very similar reform programs, based on the introduction of a wide range of free mark...

The problem of securing the stability of the Polish economy in the 1990s in the projects of RSSG experts and the constitution of the state--------------Economic stability is a value that cannot be overestimated. The economically stable country is attractive to investors and predictable in development. The need for stabilization of the economy was a...

The study concerns shaping Polish raw materials security in the aspect of oil and gas supplies from the countries of the former Soviet Union. The article discusses Polish raw materials resources and energy needs for another 1o years in the future. The focus of the analysis is to consider the diversification of supplies from various alternative sour...

w: Józef Piłsudski (1867-1935) Polityk-wódz-mąż stanu, pod red. J. Farysia, T. Sikorskiego, Szczecin 2005, ISBN 83-60065-70-5 ----------The great crisis of the 1930s was a hard test for the Sanacja governments in Poland. The Piłsudski party with a very weak economic background, i.e. theoreticians and economic practitioners, was unable to get Poland...

The Destinate System of the Economy in Projects of Economic Reform in 1980 - 1981

Socio-economic crisis of 1979 - 1982 - collapse of the socialist economy of Poland ----- In the second half of the 1970s, serious crisis signals began to appear in the economy of the People's Republic of Poland. Since 1976, there has been a weakening economic activity, which was characterized by a decrease in the growth of both generated (DNW) and...