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The importance of the performance of a firm and the essential role played by the management in their accomplishment has been discussed and recognised by many researchers from Drucker to Upper Echelon Theory. Nonetheless, currently, anybody has been able to determine the precious and reliable parameters which let the firm achieve required-level performance. The confusion around this objective is still sufficient and the controversial has being growing widely over time, being the findings achieved contradictory, insufficient, imprecise and unreliable. Regarding the demographical literature findings focus on the premises previous related to Upper Echelon Theory. The purpose of this paper is to go further and try to test how, not only the level, but also the diversity of constructs like top management teams (TMT)'s demographic characteristics influence the firm performance accomplished by the managers by applying a Hierarchical Linear Regression Model.

Based on primary data from two Spanish databases – SABI, CNMV – and secondary data, a sample size of 147 TMTs in large companies from 18 industries sector with headquarters in Spain over a four years period (2004-2007) were obtained. The analysis focused on the total TMT for each firm. To test the relationship between the company performance and the demographic constructs, a more recent methodology based on hierarchical linear models (HLMs) using a longitudinal dataset of multinational big firms with headquarters in Spain was applied.

After applying the statistical techniques the results show a partial confirmation of the hypotheses formulated in the theoretical model proposed. First, the analysis evidences that company size is both highly correlated with TMT size and their demographic variables in terms of diversity. Second, the HLM shows that TMT's education-level diversity has a negative and significant impact on corporate performance and no significant effects for functionality and education background diversity have been found. Based on the accomplished findings, organisations appear to be more concerned about the employee's education level rather than their education background. Moreover, the model further supports that companies seem to be more aware of industry experience diversity than functionality diversity, also confirming a greater influence of the more international experience diversity of TMT on corporate performance.

This study offers a significant contribution not only by specifying a three-level hierarchical regression models regarding diverse approaches to measure the performance variable as dependent variable but also by considering as predictors not only the level of the demographic variables but also their diversity. This knowledge is relevant for entrepreneurial purposes since it highlights the achievement of high performance. The results allow us to explain which constructs influence the achievement of firm performance. Thus, this knowledge could be relevant to the entrepreneurs to encourage the firm survival and growth. Furthermore, focused on an ambitious purpose, it reveals the parameters needed to achieve to get the optimums performance level. Hence, the present study contributes an attempt to advance the literature on TMT composition by applying multi-level theory given the nested structure of the data set. The paper is one of few studies which apply panel data to analyse the influences of TMT characteristics on corporate performance and one of the first focused on Spanish entrepreneurial context.

The paper's purpose is to provide a method of reducing inventory costs in multi‐product and multi‐nodes supply chains (SC).

The proposed approach is based on applying the classical inventory control models and simulation. This is a two‐stage approach in which inventory cost reduction in the SC occurs as a result of the appropriate selection of inventory control policies by its members.

Cost reduction in the whole SC may occur as a result of an appropriate choice of inventory control policies in every node. SC members can learn which inventory control policies should be applied. Results of the learning process are closely connected with a kind of collaboration between chain nodes. The best results of the whole system can happen with a simultaneous deterioration of operation of its component elements. Therefore, losses which occur in some chain members as a result of collaboration should be compensated.

This approach does not offer an optimal solution. The authors do not know how far they are from an optimal solution. The approach should be tested for more complicated SC. The authors have not studied the strategy in which SC cells negotiate the level of their inventories.

SC cells should apply a local cooperation strategy. When the cost of the whole SC decreases, the cost in particular nodes may significantly increase. The start of collaboration in the SC can cause a deterioration of results in some companies; therefore this loss should be compensated.

The paper presents the development of a framework in which an application of different policies of inventory control and application of different collaboration strategies in the SC are studied. The framework enables the use of classical inventory control models in a coordinated manner, and SC members decide which policies should be applied only on the basis of earlier collected experiences.

The development of a given discipline in science and technology often depends on the availability of theories capable of describing the processes which control the field and of modelling the interactions between these processes. The absence of an accepted theory of information retrieval has been blamed for the relative disorder and the lack of technical advances in the area. The main mathematical approaches to information retrieval are examined in this study, including both algebraic and probabilistic models, and the difficulties which impede the formalization of information retrieval processes are described. A number of developments are covered where new theoretical understandings have directly led to the improvement of retrieval techniques and operations.

The purpose of the paper is to present an overview of various total quality management (TQM) issues in Poland's business organizations and the public sector.

Describes the role of the Polish Quality Award Committee in promoting the idea of TQM. Presents the results of survey research on the implementation of TQM in Polish companies. Presents a critical analysis of the results and formulates conclusions based on the author' experience gained while working in the Polish Quality Award Committee at the National Chamber of Economy.

The analysis of the literature on the subject and the results of empirical research allow the formulation of conclusions. It turns out that most Polish companies implement the TQM philosophy under the influence of the positive results of the functioning quality management systems based on ISO standards. The influence of cultural and social factors cannot be underestimated. The further development of the TQM philosophy should be related to the development of knowledge in the field of human resources management. The promotional and didactic activities of the Polish Quality Award Committee and Polish universities influence positively the functioning and development of TQM. Some Polish companies try to combine TQM with other management methods, e.g. reengineering.

The practical aspects comprise these conclusions which are related to the barriers to the implementation of TQM. The knowledge of such barriers and their character can be advantageous for managers in the process of decision making.

The paper is the first holistic survey of TQM in Polish companies. It may constitute a basis for further research and scholarly analysis.