154 10 3494 https://omeka.ibu.edu.ba/files/original/3c3be5b7ac01d6060481a64ad11e3e30.pdf 70f7ebf4094240f6fd08dcb29f861b0a PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Relationship between Machiavelism and Ethical Leadership and an Application Mustafa Kemal Demirci Dumlupınar University, Kütahya, Turkey mkdemirci26@hotmail.com Gülten Eren Gümüştekin Dumlupınar University, Kütahya, Turkey ggumustekin@hotmail.com Nuray Mercan Dumlupınar University, Kütahya, Turkey snmmercan@yahoo.com Bayram Alamur Balıkesir University, Balıkesir, Turkey alamur_bayram@hotmail.com Süleyman Tiryaki Dumlupınar University, Kütahya, Turkey tiryaks06@hotmail.com Machiavelli has emphasized and defended to the brutality of competition, which happens in both political and organizational life, selfishness and has taken account of the fact that the every unethical way can be try to reach the purpose. 21. Century is the information age. Besides, different management models and leadership characteristics have discussed in this age as well. In recent years, the scandals which emerged in businesses Enron, WorldCom, Parmalat etc. have caused to become importance for the ethical behavior of leaders and began to be questioned the role of leader in formation of ethical behavior. Ethical leadership is the integration of ethic and leadership, and is an example for employees. Ethical leadership shows the way to the employees to reach the goals, it is the way which has only ethical principles and methods. The purpose of this resource is to determine the level of Machiavellian tendencies and to determine its statistical relationship between the ethical leadership. The resource questionnaire method was applied to 127 teachers who work in Altintas. As a result of this resource teachers’ average score was calculated 90, 9. The high and low limit that separating of Machiavellian behavior is 100 point. 18, 8% of teachers has been received high Machiavellian behavior score. Positive correlation was found between negative tendency to the Machiavellism and ethical leadership. In this resource are not differences between the perspectives to ethical leadership and the Machiavellian level of men and women. Keywords: Machiavelism, Ethical Leadership. 215 � https://omeka.ibu.edu.ba/files/original/08d19d7d3c69941850a509f4c6e52fa3.docx 620e6e13c5f78a32ab50682e8371b8c0 https://omeka.ibu.edu.ba/files/original/f7dca47b304a3aae03fa21df870a0e3f.pdf 18362bc52a69759df79a7d697368fb9a PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Machiavellianism in Relation to Ethical Leadership and a Practice Mustafa Kemal Demirci Dumlupınar University,Kütahya, Turkey mkdemirci26@hotmail.com Gülten Eren Gümüştekin Dumlupınar University,Kütahya, Turkey ggumustekin@hotmail.com Nuray Mercan Dumlupınar University,Kütahya, Turkey snmmercan@yahoo.com Bayram Alamur Balıkesir University, Balıkesir, Turkey alamur_bayram@hotmail.com Süleyman Tiryaki Dumlupınar University,Kütahya, Turkey tiryaks06@hotmail.com Abstract Machiavelli emphasized and asserted the idea that any unethical way to fulfill a goal can be put into practice as well as ruthlessness of rivalry and selfishness both in political and organizational life. The 21st century is a period in which a variety of management models and leadership qualifications has been discussed besides being information age. At the heart of these discussions, recent business scandals such as Enron, WorldCom, Parmalat etc. paved the way for leadership behavior to gain importance and the role of leader modeling the “ethical behavior” has begun to be argued. Ethical leadership is the integration of ethics and leadership issues as well as serving to the employees as a model. Ethical leadership is to enable the employees only with the ethical principles and procedures on the way to achieve their aims. The objective of this research is to determine the levels of Machiavellianist tendencies and relationship with ethical leadership statistically. A survey method has been applied to 127 teachers working in Altıntaş. According to survey results, the average score of the teachers included is 90,9 points. The boundary line separating high and low Machiavellianist attitude is 100 points. It has been seen that 18,8 % of the teachers scored points of high Machiavellianist attitude. It has been confirmed by the results that there is a positive correlation between negative Machiavellianist tendency and ethical leadership. There is no difference determined between Machiavellianist levels and ethical leadership perspectives of men and women. Key words: Machiavellianism, Ethical Leadership Introduction Theoretically, Machiavellianism, including alienation from the influence of interpersonal relationships and indifference to traditional ethical values, is to reach individual targets by manipulating persons. 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In cases of collaboration, Machiavellianists share information, however in highly competitive environments; they keep the information to their selves. Generally, the concepts of Machiavellianism and ethics are regarded as two poles of an axis. It can be said that this is based upon Machiavelli’s notion : “If an administrator seeks to realize an ambition, being ethical shall not always be found rational, on the contrary the whole consistent attempts providing social approval of people, shall be seen as irrational policy”. (Skinner 2002: 60). Machiavellianism is among the basic personality traits which affect the organizational behavior. The belief of experimenting any way to fulfill the objective turns these individuals into more Machiavellianist ones in cases of negotiation necessity with less rules. In their book “ Studies in Machiavellianism” published in 1970, Richard Christie and Florence Geis , who developed a psychometric scale, with reference to Machiavelli’s notions, to scale Machiavellianist attitude, described the qualifications of Machavellianists with high tendencies and low tendencies as follows : Individuals with high Machiavellianist tendencies are described as target-oriented, coldblooded, objectiveminded, cheater, team leader, a good handler of interaction with all process, manager, power-oriented, authoritative, not open to manipulations, skeptical, not trustworthy, success-oriented, selfish, opportunist, judicial, arrogant, aggressive, limit-pusher, performance-oriented rather than justice-oriented. On the other hand, individuals with low Machiavellianist tendencies are described as not confident, inclined to be managed and dominated easily, sympathizer and sympathetic, friendly, sensible, prone to collaboration, self-sacrificing, thoughtful and with ethical values (Ergeneli, 2006). The concept of ethical leadership shapes the attitudes of people in many fields of communal living. Besides some qualifications such as truthfulness and honesty, ethical leadership features the concept of psychic leadership concentrating on values. The values such as loyalty, truthfulness or vice versa can be seen as a part of ethical leadership values (Plinio, 2009:278). Harvey, as a result of researches on ethical leadership, introduced the ten-item ethical leadership (Harvey, 2004:23): 1. Ethical leaders regularly make reference to common values, business principles and ethical standards and ensure that they are understood, supported and adopted. 2. Ethical leaders hold themselves and other people responsible for behaving in accordance with ethical values. 3. Since ethical leaders speak and act with integrity, they have the right to expect the others to do so. 4. Ethical leaders take into consideration others and guiding principles at the decision making stages. They manifest their values in all their deeds. 5. Ethical Leaders take pains so that policies and practices are in harmony. 6. Ethical leaders allocate time and resources to help people acquire confidence and skills that are required to transform correct beliefs into good behavior. 7. Ethical leaders attach importance to the feelings, views and reactions of their colleagues, employees and all the others who fall in their sphere of influence. 8. Ethical leaders make large numbers of small improvements in many fields. They easily adapt to ethical values and rules thanks to their sophistication. 9. While they are making decisions about choosing and promoting people who they will work with, ethical leaders use their mission, vision and values as criteria. 10. Ethical leaders motivate followers to take initiative and act as guides rather than making complaints, accusing some others, or waiting for others to take lead. 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In the first part of this research, the relationship between Machiavellianism and ethical leadership, literature search as the second part and research findings and analysis as the conclusion part will take place. The Relationship between Machiavellianism and Ethical Leadership According to the results of a survey relating to ethical perception difference between Machiavellianist individuals in comparison with the others, those ,who have high ethical perceptions, have less Machiavellianist tendencies compared to the ones who have low ethical perceptions. For Christie and Geis, social pressure affects highly Machiavellianist individuals less, thus these individuals obey the social norms less than the others (Skinner 2002: 60). Moreover, Christie and Geis stated that Machiavellianist individuals are deprived of the concept of traditional ethics and in their perspectives of seeing the individuals, they are pragmatist. According to them these individuals are not deprived of ethics, yet they abide by some ethical principles which are not in accordance with traditional ethics. Furthermore, Mahciavellianist leaders can be exceptionally successful and useful in terms of the other organizations in cases of negotiation and persuasive skills are required. As a matter of fact, Machiavellianist individuals are exceptionally good at developing competitive strategies to succeed by concentrating on cognitive analysis of the cases. However, it is the best way for the business organizations to keep the Machiavellianist perspective limited. Thus; not only achievement motivation, the motive power and being aim-oriented can be preserved, but also the opportunist, selfish and deceitful sides of Machiavellianists can be prevented. (Mandacı, 2007: 54). Highly Machiavellianists think first and act accordingly while lowly Machiavellianists act first and then shape their cognition. Although Machiavellianism is not directly associated with any general intelligence testing scale, highly Machiavellianists are found out to be smarter and more charming compared to the lowly Machiavellianists. (Ural, 2003: 102). Literature Review According to Atakan (2002), mass media news programs cannot reach any difference in business levels among different age groups. The profession of a doctor is another occupation which has been searched in terms of the relationship with Machiavellianism. By using average score of Mach IV Scale, Bakır (1992) found out that the more age and term of office increases , career status progresses or academic title is gained, the more positive social values become and the less the tendency of looking out own profits becomes. In his research, Bakır (1993) carried out a survey among the students of Gulhane Military Medical Academy. According to survey results, once the students are closer to complete their education, Mach IV scores significantly increase, marital status affects social values and married doctors have less Machiavellianist tendencies. As for Abdul Aziz (2004), there has been found out a strong positive relationship between Machiavellianism and absenteeism. Abdul Aziz found out that part-time employees have higher Machiavellianism levels compared to full-time employees. In her studies in banking sector Mandacı (2007) found out that there is not a difference between marriedsingle,experienced or age groups in terms of Machiavellianism and ethical perception. Although marital status andage changes, Machiavellianist features including more individualistic attitudes are not shown. Research results show that there is not a significant difference between private and public sectors in terms of Machiavellianism and ethical perception levels. Tekin (2008) found out that Machiavellianist notions are common 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo among sales representatives and such attitudes as favoring some clients, not granting a discount of credit sales, dealing with personal issues during work hours, tolerating nonobeyers of ethical rules, increasing prices for foreigners, exploiting the organization’s equipment’s, forcing the clients to purchase the item are Machiavellianist features. Arslan (2004), in her research attended by 403 adults living in Ankara, Istanbul, Izmir and Mersin, found out that there is not a significant relationship between sex and Machiavellianism, there is a positive relationship between Machiavellianism and high level of alienation, as well as a negative relationship between his level of education and Machiavellianism. Bakır (2003) searched out that there is a negative relationship between Machiavellianism and job satisfaction in a survey among doctors. Jelinek (1985), in a research for students, reached the results that those who have had high scores of Machiavellianism are less stressful than the ones who have not. Barlow (2010) in a research aimed at students, found out that there is a negative relationship between Machiavellianism and emotional intelligence and that female students are less Machiavellianist in comparison to male students as female students are prone to use their emotions more. Paulhus, in a research aimed at employees about Machiavellianism and five-factor personality, found out a positive relationship between Machiavellianism and narcissism; and a negative one between Machiavellianism and psychopathic personality. Paul and Bereczki (2007), in a research aimed at employees, found out that there is a negative relationship between Machiavellianism and social co-operationRayburn (2003), in a research aimed at employees, found out that there is a positive relationship between Machiavellianism, Type A personality and academic success, and a negative one between ethical perception, Type A personality and academic success. Liu (2008), in a research aimed at employees, found out that there is a negative relationship between Machiavellianism and information sharing. Latif (2000) searched out that there is a negative relationship between Machiavellianism and ethical perception. Cyriac and Dharmaraj (1994) analyzed Indian businessmen in detail in terms of Machiavellianism levels and found out that administrators working in large cities of India have been affected by Machiavellianism as the ones in most European countries. Moreove, in a research carried out in China; although negative relationship between Machiavellianism levels and job satisfaction has been uttered in literature, Siu (1998) stated that the more Machiavellianism levels of bankers working in Hong Kong increase, the more satisfaction they get. Corzione and Buntzman (1999), in their research to analyze the Machiavellianism levels of employees in American Banks, found out that Machiavellianism levels do not differ intersexual. They also found that there is not a significant difference between the Machiavellianism levels of American banks and Hong Kong Banks. Also, they could not find any relationship between Machavellianism and salary. The Objective and Importance of the Research The objective of the research is to examine the relationship between ethical leadership and Machiavellianist features and attitudes which are effective on people to behave unethically. Research Method,Sampling and Data Collection Tools The research will be carried out by method of survey to the employees of Kutahya Altintas Distcirct Governorship. The data of research has been provided by surveys based on the literature. 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo As a data collection tool, survey form has been used. On this form,respectively demographic information and 20-items about Machiavellianist personality take part. While preparing the survey form, Mach IV version developed by Christie and Geis to scale Machiavellianist personality, has been used. 20 items of Mach IV Scale have been adapted to Turkish. Half of the items reflect Machiavellianist personality (positive) whereas the other half is against Machiavellianist personality (negative). Positive items are respectively as follows: (1, 3,4, 6,7, 9, 12, 16, 18, 19), and the negative items are as follows : (2, 5, 8, 10,11, 13,14,15,17, 20). These items take part in five-Likert type scale on the survey form. On the form 5-point represents “strongly agree”, 1-point represents “strongly disagree”. Machiavellianist Personality Score = Total Positive Points -Total Negative Points + 100 It is known by the researcher which of the questions is positive and negative. On this survey high score shows highly Machiavellianist personality and low score shows lowly Machiavellianist personality. By determining 100 points as criteria, over 100 points showing high, below 100 showing low Machiavellianist personality is determined as the standard. Ethical Leadership Scale is a scale developed on social learning theory grounds. There are 10 items about ethical leadership (Tuna vd. 2012). Hypotheses ofthe Research The hypotheses of this research are mentioned as follows: H1: There is not a statistically significant relationship between the levels of Machiavellianism and sex factor of the teachers who have taken the survey. H2: There is a statistically significant relationship between the levels of negative tendency to Machiavellianism and ethical leadership perceptions of the teachers who have taken the survey. H3: There is not a statistically significant difference between the negative and positive perceptions of Machiavellianism and ethical leadership perceptions of the teachers who have taken the survey. Findings and Analysis In this part, the data of the teachers, which have been participated, collected by means of survey method, necessary statistical processes to work out sub-problems and comments are included 1 Survey Reliability Table-1: Internal Consistency of Surveys Scale Positive Machiavellianism Item Scale Negative Machiavellianism Item Scale ETHICAL LEADERSHIP SCALE Number of Items 10 Cronbach‟s Alpha 0,782 10 0,732 10 0,796 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Having analyzed the reliability of answers given to Machiavellianism Scale by academicians participated, reliability coefficient is r= 0,832. Ethical Leadership has been proved to have r= 0, 70 reliability coefficient. Table 2. Arithmetic Mean, Standard Deviation and Factor Load Values POSITIVE ITEMS ABOUT MACHIAVELLIANISM 1. The best way to handle people is to tell them what they want to hear. 3. Anyone who completely trusts anyone else is asking for trouble. 4. It is hard to get ahead without cutting corners here and there. 6. It is safest to assume that all people have a vicious streak and it will come out when they are given a chance. 7. Never tell anyone the real reason you did something unless it is useful to do so. 9. It is wise to flatter important people. 12.People suffering from incurable diseases should have the choice of being put painlessly to death. 16.Most people forget more easily the death of a parent than the loss of their property. 18.Generally speaking, people won’t work hard unless they’re forced to do so. 19.The biggest difference between most criminals and other people is that criminals are stupid enough to get caught. NEGATIVE ITMES ABOUT MACHIAVELLIANISM 2. When you ask someone to do something for you, it is best to give the real reasons for wanting it rather than giving reasons which might carry more weight. 5. Honesty is the best policy in all cases. 8. One should take action only when sure it is morally right. 10. All in all, it is better to be humble and honest than to be important and dishonest. 11. Barnum was very wrong when he said there’s a sucker born every minute. 13. It is possible to be good in all respects. 14. Most people are basically good and kind. 15. There is no excuse for lying to someone else. 17. Most people who get ahead in the world lead clean moral lives. 20. Most people are brave. ETHIC LIDER 1. My manager listens to what employees have to say 2. My manager disciplines employees who violate ethical standards. 3. My manager conducts his/her personal life in an ethical manner 4. My manager has the best interests of employees in mind 5. My manager makes fair and balanced decisions 6. My manager can be trusted 7. My manager discusses business ethics or values with employees 8. My manager sets an example of how to do things the right way in terms of ethics 9. My manager defines success not just by results but also the way that they are obtained 10. My manager when making decisions, asks “what is the right thing to do?” Arithmetic Mean Standard Deviation ALPHA VALUE 3,24 3,23 3,85 3,47 1,348 1,340 1,241 1,174 ,715 ,703 ,739 ,721 2,98 1,472 ,784 1,96 2,35 1,353 1,504 ,781 ,740 2,95 1,356 ,734 3,01 1,312 ,731 2,56 1,395 ,787 4,43 ,905 ,685 4,58 4,38 4,28 ,849 ,854 1,046 ,793 ,729 ,771 4,14 1,014 ,694 3,72 3,80 4,07 3,11 3,50 ,997 ,937 ,961 1,370 1,221 ,671 ,690 ,784 ,751 ,687 4,02 3,80 4,23 4,23 4,27 4,39 4,35 4,24 1,000 1,115 ,977 ,875 ,791 ,768 ,802 ,742 ,774 ,819 ,774 ,764 ,766 ,772 ,783 ,781 4,31 ,684 ,777 4,39 ,691 ,770 Cronbach Alpha Coefficient is referred to test the inter-consistency of the scale item in scope of Machiavellianism Scale and reliability study, and test-retest reliability coefficients are referred to test the time consistency in terms of scaled quality. The internal consistency 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo coefficient related to 20-items of the scale α=.7320 olarak hesaplanmıştır. The internal consistency coefficient related to 10 item Ethical Leadership Scale is α=.796. In the literature, internal consistency values over .70 are suitable. Table-3 Demographic Variables AGE VARIABLE AGE FREQUEN CY 20-25 29 26-30 55 31-35 26 36-40 9 41-45 3 46 AND OVER TOTAL SEX MALE FEMALE % 22,8 43,3 20,5 7,1 2,4 5 3,9 127 100,0 106 122 46,5 53,5 TERM OF SERVICE 1-5 95 YEARS 5-10 23 YEARS 10-15 6 YEARS 15-20 2 YEARS OVER 20 1 YEARS TOTAL 127 74,8 18,1 4,7 MARITAL STATUS FREQUENC Y MARRIED 68 SINGLE 59 TOTAL 127 JOB POSITION KINDERGAR 8 TEN TEACHER CLASS 92 MASTER DIRECTOR24 VICE DIR. CLERK 3 TOTAL 127 EDU. LEVEL HIGH SCH. UNIVERSIT Y MASTER’S DEGR. TOTAL % 53,5 46,5 100,0 6,3 72,4 18,9 2,4 100,0 6 117 4,7 92,1 4 3,1 127 100 1,6 ,8 100,0 Analyses of Research Table 4: Average Scores of Machiavellianism Levels of Participants LEVELS MACHIAVEL LIANIST LEVELS N 127 Min. 69 Max. 122 Ave.. 90,9 S.s 9,983 According to Table-4, regarding the scores got by participants, it can be seen that the minimum average score is 69 and maximum average score is 122. Accordingly the average score of the teachers appears to be 90, 9. 7 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Table 5: Perspectives of Females and Males in Terms of Machiavellism and Ethical Leadership NEGATIVE TENDENCY TO MACHIAVELLIANISM POSITIVE TENDENCY TO MACHIAVELLIANISM ETHICAL LEADERSHIP SEX N T P 53 74 ARITHMETIC MEAN 40,4906 39,6757 FEMALE MALE 1091 289 FEMALE MALE 53 74 42,5094 42,0135 ,541 ,580 FEMALE MALE 53 74 29,5283 29,6486 ,125 ,920 As the result of t-test to determine whether there is a significant difference between the scores of females and males about their negative and positive tendencies to Machiavellianism as well as ethical leadership, the difference between the arithmetic means of the groups has not been found statistically significant. Table6: The Perspectives of Higly/Lowly Machiavellianists into Ethical Leadership LEVELS HIGHLY MACHIAVELLIANISTS LOWLY MACHIAVELLIANISTS N 1,00 X 24 ss 41,5833 2,00 103 42,3689 t p ,021 ,886 Table7: Correlation Analysis Determining the Difference between Negative/Positive Tendency To Machiavellianism, Ethical Leadership And Marital Status VARIABLES POSITIVE TENDENCY TO MACHIAVE LLIANISM NEGATIVE TENDENCY TO MACHIAVE LLIANISM ETHICAL LEADERSHIP Pearson Correlat ion 0,037 Sig. (2tailed) Pearson Correlat ion ,682 0,280** Sig. (2tailed ,001 Viewing Table-7, as a result of correlation analysis to determine the relationship between positive tendency to Machiavellianism and ethical leadership , no statistically significant relationship between the scores has been worked out (r= 0, 037 ; p>.05). As a result of correlation analysis to determine the relationship between negative tendency to Machiavellianism and ethical leadership , a low level of statistically significant relationship between the scores has been worked out (r= ,154; p<.05). 8 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Conclusion Regarding the scores got by participants, it can be seen that the minimum average score is 69 and maximum average score is 122. Accordingly the average score of the teachers appears to be 90, 9. Yıldız (1998) found out that the average Machiavellianist tendency score of Turkish administrators is 94. 35, which is not too low taking the boundary line score 100 separating high and low Machiavellianist level into consideration. When examining the percentages of participants’ Machiavellianist tendency levels, it can be seen that 18,8 % of the teachers scored high Machiavellianist tendency levels. Kavak (2001), in her research, found out the country-wide level of Machiavellianist attitude as 97.13 (center 100 point). In this research, 100 points as center, the Machiavellinist levels of individuals in public sector is approximately 86, in private sector approximately 85. Kavak’s (1999) research shows that the level of Machiavellism in Turkey is higher than America (84,5), and lower than Australia (98. 6) which is valid also fort his research. In this research it has been showed that the perspectives of those who have scored high/low Machiavellianism levels do not differ in ethical leadership. This conclusion indicates that Machiavellianist attitude is personalized and even if a person does not behave ethically, he/she expects ethical attitudes from the others. In this research, the conclusion of previous researches indicating females are fewer Machiavellianist could not be reached. References Arslan Serap (2004).“Makyavelizmle Yabancılaşma, Bireycilik/Toplulukçuluk Eğilimleri Ve Bazı Demografik Değişkenler Arasındaki İlişki” Http://Www.Metvedu.Tr/Psi/Obildiri.Html. Atakan, Şirin (2002). “İşletme Etiğinde Makyavelizm: Görsel Basın Haber Programları İşgörenlerinin Makyavelizm Düzeylerini Belirlemeye Yönelik Bir Çalısma”,Hacettepe Üniversitesi İşletme Anabilim Dalı Yüksek Lisans Tezi, Ankara. Aziz Abdul (2004), “Relationship Between Machiavellianism And Absence Rate:An Emprical Study” International Journal Of Management, Vol: 21: 445. Bakır, Bilal (1993). “Gülhane Askeri Tıp Fakültesinde Mezuniyet Öncesi Tıp Egitimi” Uzmanlık Tezi Ankara. Bakır Bilal- Özer Mustafa, Uçar Muharrem-Güleç Mahir- Demir Cesim- Hasde Metin. (2003).“Relation Between Machiavellianism And Job Satisfaction İn A Sample Of Turkish Physicians”Psychological Reports, Vol. 92(3), Pp. 1169-1175. Barlow Alexandra- Qualter-Stylıanou Maria (2010). “Relationships Between Machiavellianism, Emotional Intelligence And Theory Of Mind İn Children”Personality And Individual Differences,Vol. 48, Issue 1, Pp. 78-82. Corzıone, Janice C Buntzman, Gabriel F. Busch Edgar T.(1999). “Machiavellianism İn U.S.Bankers” TheJournal Of Organisational Analysis, Vol.7, Pp. 72-83. 9 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Cyrıac K. Joseph Dharmaraj Raja (1994). “Machiavellianism İn Indian Management” Journal Of Business Ethics, Vol. 13, Pp. 281-280. Ergeneli, Azize (2006) “Örgüt Ve İnsan” Hacettepe Üniversitesi Yayınları, Hacettepe Üniversitesi Hastaneleri Basımevi, Ankara. Harvey, Eric, (2004), “Liderlik Ve Etik”, Executive Excellence. Yıl:8, Sayı:87, S. 23 Kavak, Bahtışen. (1999). “Makyavelizm İle Tüketicinin Ahlaki Yargıları Arasındaki İlişkiye Yönelik Amprik Bir İnceleme” Ev Ekonomisi Dergisi. Latıf David A. (2000).”The Relationship Between Pharmacy Students’ Locus Of Control, Machiavellianism, And Moral Reasoning”American Journal Of Pharmaceutical Education, Vol. 64, Spring, Pp. 33-37. Lıu Chung C. (2008). “The Relationship Between Machiavellianism And Knowledge Sharing Willingness”J Bus Psychol, Vol. 22, Pp. 233-240. Jellınek Roberta (1985). "Machiavellianism, Organizational Structure And Principals' Occupational Stress (Job Satisfaction)" Etd Collection For Fordham University.Paper Aaı8508118. Http://Fordham.Bepress.Com/Dissertations/Aaı8508118 Mandacı Gamze (2007). “Makyavelist Tutumların Etik Algısı Ve DemografikFaktörler Açısından Değerlendirilmesi:BankacılıkSektöründe Bir Araştırma” Hacettepe Üniversitesi Sosyal Bilimler Enstitüsü İşletme Anabilim Dalı Yönetim Organizasyon Ve Örgütsel Davranıs Bilim DalıYüksek Lisans Tezi, Ankara. Paal Tunde, Bereczkeı Tamas (2007). “Adult Theory Of Mind, Cooperation, Machiavellianism: The Effect Of Mindreading On Social Relations” Personality And Individual Differences, Vol. 43 , Pp. 541–551. Plınıo, Alex J., (2009), “Ethics And Leadership”, International Journal Of Disclosure And Governance, Vol:6, No:4, S. 277-283 Rayburn Mike- Overby John- Hammond Kevin (2003). “Differences İn Charisma, Ethics,Personality, And MachiavellianCharacteristics Of Male And FemaleMarketing Students” Academy Of Marketing Studies Journal, Vol. 7, No. 2, Pp. 107-125. Skınner, Quentin (2002). “Düşüncenin Ustaları: Machiavelli” Türkçesi: Cemal Atilla AltınKitaplar Yayınevi İstanbul. Sıu ,Wai-Sum (1998). “Machiavellianism And Retail Banking Executives İn Hong Kong” 10 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Journal Of Managerial Psychology ,Vol. 13:28. Ural, Tülin. İşletme Ve Pazarlama Etiği. Ankara: Detay Yayınları, 2003. Tekin Zeliha (2008).“Pazarlama Etiğinde Makyavelizm Ve İstanbulMahmutpaşa’da Bir Uygulama” Üniversitesi Sosyal Bilimler Enstitüsü İşletme Anabilim Dalı İşletme Programı, Yüksek Lisans Tezi, İstanbul. Tuna Muharrem, Bircan Hüdaverdi,Yeşiltaş Murat (2012) “Etik Liderlik Ölçeği’nin Geçerlilik Ve Güvenilirlik Çalışması: Antalya Örneği” Atatürk Üniversitesi İktisadi Ve İdari Bilimler Dergisi, Cilt: 26, Sayı: 2. Yıldız Gültekin- Erdoğmuş Nihat (1998).”Toplulukçu Kültürde Makyavelist Davranış Ve Bir Uygulama” Siyasette Ve Yönetiminde Etik. Adapazarı. Www.Nihaterdogmus.Com/.../6toplulukau-Kaoeltaoerde-Makyavelast-DavraniazVe-Bar-Uygulama1.Doc 11 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1632 Title A name given to the resource Relationship between Machiavelism and Ethical Leadership and an Application Author Author KEMAL DEMIRCI, Mustafa EREN GUMUSTEKIN, Gulten MERCAN, Nuray ALAMUR, Bayram TIRYAKI, Suleyman Abstract A summary of the resource. Machiavelli has emphasized and defended to the brutality of competition, which happens in both political and organizational life, selfishness and has taken account of the fact that the every unethical way can be try to reach the purpose. 21. Century is the information age. Besides, different management models and leadership characteristics have discussed in this age as well. In recent years, the scandals which emerged in businesses Enron, WorldCom, Parmalat etc. have caused to become importance for the ethical behavior of leaders and began to be questioned the role of leader in formation of ethical behavior. Ethical leadership is the integration of ethic and leadership, and is an example for employees. Ethical leadership shows the way to the employees to reach the goals, it is the way which has only ethical principles and methods. The purpose of this resource is to determine the level of Machiavellian tendencies and to determine its statistical relationship between the ethical leadership. The resource questionnaire method was applied to 127 teachers who work in Altintas. As a result of this resource teachers’ average score was calculated 90, 9. The high and low limit that separating of Machiavellian behavior is 100 point. 18, 8% of teachers has been received high Machiavellian behavior score. Positive correlation was found between negative tendency to the Machiavellism and ethical leadership. In this resource are not differences between the perspectives to ethical leadership and the Machiavellian level of men and women. Keywords: Machiavelism, Ethical Leadership. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 978-9958-834-23-3 https://omeka.ibu.edu.ba/files/original/f10b9af08cd8da12c52063ab80756aa7.pdf 5eb4a4459a4856a2571869f3ef5ee4fc PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Effects of Openness of Leaders in Success of Organizations Amine Khadyr International Burch University, Sarajevo, Bosnia and Herzegovina khadir.amine@yahoo.com Edin Smajic International Burch University, Sarajevo, Bosnia and Herzegovina esmajic@ibu.edu.ba Nowadays many seminars, conferences and courses held and books written in order to improve leadership skills of different kinds of leaders from all over the world. However the openness of leaders in the organization has not been mentioned seriously as it is one of the main skills that successful leaders should have. In this research paper my intention was to demonstrate the idea that openness of leaders is directly related with the success of organization. With the present study, I argue that the characteristic of leaders that is openness of leader’s plays as big role for the effectiveness of employees as well as success of the organization. It is very important because many organizations nowadays fail to operate because of its leader’s lacked skills. Keywords: Openness, Leaders, Organization, Success, Effect, Relationship, Communication, Criteria, Effective. 36 � https://omeka.ibu.edu.ba/files/original/ed2c2f51a10fe1eb071e3275b8b148ba.docx 865257800c8c34dfc9fcc8d2293debdb https://omeka.ibu.edu.ba/files/original/195c55b9d37b03af8bfc0dc84bc54383.pdf dcbe8c13603637b2f007161ec11c7f79 PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Effects of Openness of Leaders in Success of Organizations Amine Khadyr International Burch University, Sarajevo, Bosnia and Herzegovina khadir.amine@yahoo.com Edin Smajic International Burch University, Sarajevo, Bosnia and Herzegovina esmajic@ibu.edu.ba Abstract Nowadays many seminars, conferences and courses held and books written in order to improve leadership skills of different kinds of leaders from all over the world. However the openness of leaders in the organization has not been mentioned seriously as it is one of the main skills that successful leaders should have. In this research paper my intention was to demonstrate the idea that openness of leaders is directly related with the success of organization. With the present study, I argue that the characteristic of leaders that is openness of leader‘s plays as big role for the effectiveness of employees as well as success of the organization. It is very important because many organizations nowadays fail to operate because of its leader‘s lacked skills. Keywords:Openness, Leaders, Organization, Success, Employee, Motivation, Effectiveness. Introduction Openness has been defined as willingness, readiness to receive impressions and ideas also characterized by an attitude of ready accessibility about ones actions and purposes. In organizations leaders are defined as the most influential people. So in order to communication be strong and information to flow effectively inside of the organization, influence of leaders openness would be a worth topic to study. In this research paper, research questions as ‗What is openness?‘, ‗What are the criteria of successful leaders?‘, ‗Are openness of leaders and success of the organization are related‘, ‗Whether motivation of employees depend on the openness of leaders ?‘ has been demonstrated in order to identify what openness is, to establish suitable effectiveness criteria of successful leaders, to determine what place does openness takes in these criteria, to measure the exact relationship between leaders openness and organizations success and to develop an explanatory idea that shows the importance of being open in success of organizations. In the rest of this paper there is a literature review of this topic which includes different scholar‘s opinions, writings about this topic. Later the method used to conduct this research paper and survey has been displayed. Each question that has been asked to demonstrate the opinions of people has been discussed, and then results been shown. Later on discussions and conclusions have been included in the detailed form. Literature Review Many organizational theorists suggest that openness is very important factor for effective and successful leadership. For instance Charlene Li (2010)) research shows that the most affecting factor of organizations success is not the number of employees neither their 61 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo knowledge but an open mind-set—openness that is very right in terms of time, place, and amount. Also Scott Cambell and Ellen Samiec, (2005) state that there are 2 excellent two-way communications between leaders and members, and also among members. People can speak openly, without fear of being thought critical. Facilitating consensus decision making depends on a wide range of activities and skills which are building trust and openness among group members. All that matters is to ensure that the best decisions are taken. James M. Kouzes, (2007) corroborates this interpretation by saying that trusting leaders nurture openness, involvement, personal satisfaction, and high levels of commitment to excellence. They are willing to ante up first in the game of trust, they listen and learn from others, and they demonstrate their trust by sharing information and resources with others. According to Mai, Robert, and Alan Akerson, (2003) since the mistrust inside of the organization has been increased vastly in recent times, once trust is gone later it would be very difficult to get it back , loyalty toward their leaders will be less possible, so it will require more deep revelation of leadership honesty and openness than it was before. Being informal can allow leaders to communicate with employees freely, support their contribution and build trust. It will make the bond stronger between leaders and employees. So openness is very valued inside of organizations communication. It has several scopes, which are answering to the questions what, when, to whom and how to speak with particular employee. When leaders speak employees will want to believe them, which mean if they trust them they can follow and do their jobs in a complete way. They also state that trust and openness is needed mostly in bureaucratic organizations. Most of the time organizations hierarchy constitutes the distance between top, middle managers and employees, which later may reduce the honesty and openness of each worker in the organization independent from the authority he or she has. If leader‘s communication is in the dangerous part of process of making healthy environment inside of the organization, leaders should assess values in use which are trust and openness by which they can observe how well they are doing in communication. John Adair(2007) contributes to the topic by listing criteria of a great, high performance group. One of them is atmosphere of openness which states that there is brilliant shared communication among leader and associates, and between associates. Persons can speak openly, with no fright of being thought critical. All that a matter is to make sure that the best decisions are taken. Warren Bennis, Daniel Goleman(2008)contribute to the topic by writing in their book ―Transparency; How Leaders Create a Culture of Candor‖ that in order to have an effective information sharing, employees must be open and be able to speak freely and their leaders must always be available to listen them. Even if they have also included it in their mission and vision statement, most of the time many companies fail to value the openness. If culture of fairness in any organization does not work because of some secret agreements between employees, they will not directly consider rules of a company seriously and find other regulations for themselves that are secure. Fairness and clearness can be a major rule only when leaders explain it clearly and show its importance that openness is very highly valued and awarded in the end. So openness can be taken place in an organization only when leaders importune it. 62 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The research project that has been done by Niels Van, Quaquebeke, Knippenberg Daan Van, and Eckloff Tilman says that there are two steps of becoming one of the best leaders. First one is awareness of ones self. Second one is openness to change. Change is unavoidable factor of all companies. So it is very important for leaders to recognize and adjust to changes and making changes when necessary. Resisting to change is very known because most of the time persons are afraid of it and look for ways of denying it. In order to recognize the changes opportunities leaders should be open to change. If leaders don‘t want bankrupt they should make this approach work. Leaders should always look for new opportunities and it can be done by openness to change. Pearce, Craig L., Joseph A. Maciarello, and Hideki Yamawaki‘s book infers when work is devoted to purposes of valuable services, it has been seen that it is critical for the significant life. They say that there are three key roles however unacknowledged roles at the same time in making a work life of people more meaningful. Third one of these roles is employee‘s knowledge of themselves, which has direct relationship with organizations performance. Such environment will create courage, dedication and openness to new ideas that are vastly important for the establishment of critical information. More dedication creates less turnover rates, large number of constant communication and inferior of small selfishness when it comes to united concern of the whole organization. If the lines between nearby the self become leakier, borders between persons will be destroyed and faith increased. Anne T. McCart (1995) states today GDSS applications became more popular and they change the process of managements functions in the scope of testing openness to change in minimum number of experimenting the new technology. They studied the effective connection between the introduction of GDSS ( Group Decision Support System) by questionnaire of 26 meetings which took place in Decision Techtronic‘s Group of State University of New York. As there is strong need of modifying technology, in order it fits the incomparable requirements of each organization, each company also has to be able to alter its defined structures and tactics to acquire new technology. Openness to change, (L.M., 1991) in management world enables managers to utilize the alternative even though its unknown and acquires consideration. (Bass, 1990) Working on issues related to leadership soon becomes very mixed and dimensioned concept. For Keits de Vries (2006) there is only one describer of the effective leadership, it depends on traits, values, communication and the perceptions of follower. Behavior is something that person does in a way that others can see and record, on the other hand attribute means characteristics that is in other peoples mind which results from their perception (Luthans, 2008). Another definition suggests that personality is the organization together with individual psychological systems which gives us the description of adapting to the environment (Allport, 1937). In 1961 Five Factor model of personality which was founded by Ernest Tupes and Raymond Christal has become very popular in today‘s business world. Fifth of this model is Openness to experience other 4 being extraversion, agreeableness, conscientiousness and emotional stability. Openness to experience means being open to different kinds of interests. People who are open experience are innovative, curious and have intelligence of art (Robbins, S.P, Judge, T.A, 2007). 63 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In the analysis which measured the connection between leadership and personality; extraversion, conscientiousness, openness and neurotics were the most connected characteristics of leaders and agreeableness was in the least connection. Openness to experience and conscientiousness got same rates after extraversion in the most important traits of effective leader (Judge, T.A., Bono, J.E., Ilies, R. and Gerhardt, M.W., 2002). For Tapscott and Williams (2006) today‘s new thinking comes into view which is concept of peering, openness, moving and sharing globally. In the outcome of it previous managerial aspects like closed and centralized systems, perception of the physical assets s main success indicator is given place to the new concept of organizations as open systems, sharing knowledge, leadership, relation and communication skills. Biology and complexity theories agree on the emergence of new concepts as organizations being perceived like alive sets and systems which depends on interdependencies. Cartwright and Cooper (1992) say that good middle management leaders are usually quickly lessen the employees negative reactions to change and inspire and motivate them to effectively implement the decisions that are made by top managers. Definition of openness to change is a wish to abide and hold change and it is not the same as the readiness to change says Wanberg and Banas (2000). In the words of Edwards W.R (2003) openness to change may be affected by not positioned stability of emotions and openness to experience. This kind of openness is valuable and it prepares the appropriate condition for successful inside change and includes good affect on the results and sustain for change (Miller V.D etc, 1994). People who are open to change react to the change normally and offer opportunities for development, not danger to the security say Kobasa, S.C (1982). Chernyshenko, Stark et.al (2011) say that people who are good in openness to experience are usually high at being imaginative, exploratory and unusual. In previous views, creativity has been defined as one of the valuable characteristics of an effective leader (Bass, B.M, 1990), and openness to experience tightly related with differing thought and creativity (Feist, G.J, 1998). This view suggests an opinion that openness to experience is linked with ranking of leadership. They also have broadmindedness of vagueness and predilection for complication which are the traits are effective guidance of followers in the attainment of the goal. (McCrae, R.R., Costa P.T., JR, 1997). Expressions of characteristics are thought to be contributed to the success of the group. Together with being creative and divergent thinking, people who are good in openness to experience are seems to create more ideas that qualified during the task of group (McCrae, R. R.,& Costa, P. T., Jr., 1997). Together with other studies that have been done by S.K. Ghosh and B.R. Shejwal (2006), shows that attribute to a certain circumstances affect styles of leadership management. If managers think that organizations should take serious values like belief, honesty, reliability, broadminded; they are more likely to involve employees in making decisions and care for them. If organizations are thought like formal, centralized institution, 64 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo managers become more power-centered and self oriented. Surroundings which is thought and processed as open, creative, rising, then managers choose to lead by leading, screening warmth to the employees to make them attain the top of the effective productivity. Methodology The problem was that in today‘s open world we have thousands of companies that strive to survive in this fast growing business world. People become more need able for the motivation and inspiration for them to work better. Everyone relies or is guided by someone or wants to be so. So the main reason of not being able to survive in business world for the most of the companies is that effectiveness of leaders, especially subordinates perception of leaders. So what I did is review on relationship between leaders and openness. Then I have prepared a questionnaire which contains 27 questions about relevant topics to leader‘s openness and organizations success. It was placed in different social network sites and respondents were chosen randomly. 51 people responded and questionnaire did not need any specific types of respondents so any person who is above the age of 18 can fill it out. Data was analyzed according to the majority of the respondents in the SPSS program and Google drive summary application. Some questions were asked twice, in the beginning and at the end to measure the validness of respondents. 3 to 4 weeks were given to respondents to fill and inside the questionnaire since it was very only background information about research has been given as instruction. After the respondents responded the questionnaire according to each of the response the expanded theory of openness was defined. Results After the questionnaires findings we can clearly see that almost every person who responded care about characteristics of their leaders especially about their openness. For instance for the question number 1 most of the respondents answered that employees motivation would result from the openness of their leaders. This shows that if their leaders are closed to themselves and to the environment employees will not be motivated to do their work efficiently and effectively. Motivation of the employees is the first thing to take into consideration when measuring success of the organization. For the second question most of the respondents think that leaders play big role which is 60-80 percent in the success of the organization which means each of the characteristic that leader has is important. In any organization freedom of expressing ideas is important and most of the respondents say it depends on the openness of leaders. In opposite means if leaders are not open employees will have difficulties in expressing their ideas. And who knows maybe some of them have extraordinary ideas, new thoughts that can lead to success and only because of their leaders they don‘t say it. Being intellectual is very important for the leaders today since high quality of characteristics needed in order to be effective leaders and majority of respondents say that being open means being intellectual. When an employee made mistake only an open leader can show him\her how to not repeat that mistake, and majority thinks that it is the best solution for this matter. Respondents said that effective leaders should be curious which means on the other hand being open to new ideas, searching for new ideas, looking for new information etc. People by their will follow their leaders with great empathy if their leaders are respectful, honest and open, the respondents say. It appears that informal meetings, picnics and barbeques are very important according to the 58 percent of respondents. Only open leaders can organize those informal activities. For the closed leaders it would be very difficult and impossible to spend their spare time with their subordinates and share anecdotes, jokes. This are the things that every employee wants in 65 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo an organization it strengthens the bond between people in the organization. Since it is stronger they can work together, share their ideas freely and work to achieve the common goal which in the end will lead to success. As a final majority of respondents which is 68 percent think that there is a direct relationship between leader‘s openness and organization's success. Discussion After the literature review and survey responses and results that we have been collected, we had redefined openness in 5 different factors which are; openness to information and knowledge, openness to mistakes and critics, openness to change, openness to new ideas and openness to religion and culture. We believe that organizations fail because their leaders usually lack skills in these 5 factors. Openness to Information and Knowledge: It is the first factor that is about sharing the information and knowledge with subordinates. Workers would not be favor of following leaders who know less than them. Since in today‘s world the education background has been one of the important things that define person, leaders everyday have to try to learn new things, improve their skills and increase their knowledge. After they should share them with subordinates, if subordinates are convinced that their leader is knowledgeable and learn from them new things ever day, they will be more likely to follow and motivated. Openness to Mistakes and Critics: One of the things that all people in organizations should understand is that we are people, not machines. Human beings can make mistakes and it should be reacted normally. We learn by doing mistakes, we get experienced by doing mistakes. Leaders as well as the subordinates should be open to mistakes of each other. When we asked a question which says ―What would you do if your worker made a mistake?‖ and gave some options like firing him, cutting his salary etc, majority of respondents answered that they would show a worker how not to repeat the mistake. So leaders should have more empathy towards workers mistakes and their mistakes as well. In most organizations when leaders make mistakes it is seen like impossible thing, and leaders in order to be not embarrassed, hide their mistakes. Later that mistake becomes bigger and leads to the chaos in the organization. If leaders do the opposite by being open to their mistakes and admit their mistakes majority of surveyors think that it would not lead to entrust or negative thoughts. Oppositely subordinates will trust more and would not repeat their leader‘s mistakes. Also being open to the critics is important to understand where leaders are doing mistakes. Because our enemies are the best people who recognize our mistakes and let us know about them. So if leaders are open to the critics they can know themselves more. Openness to Change: Today world, technology, environment, economy and many other factors are changing every day because of the globalization. For organizations to get well with all these fast changing factors, have to be open to the change. Organizations that resist to the change are perceived as old fashioned and in the end of the day they just cannot follow the new changing world with existing strategies and resources. So it is important for leaders to walk in the same line with its external and internal environment. Openness to New Ideas: Every person, subordinate is unique in organizations. Their opinions, new ideas should carefully listened by their leaders whatever it is. We believe that the strangest ideas are worth listening because the things that were strange for us 5 years 66 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo ago are the trends of today. People are very awake today and they always seek for something new and different. So if every idea of each subordinate is taken into consideration, there can be very light new innovations may come. Openness to Religion and Culture: Subordinates are motivated when there is a respect to their beliefs and values. Today in one organization there can be many people with different religious and cultural background. Different cultures have different point of view, which is an opportunity for leaders and organizations. Because Japanese may see the picture differently, and American differently. If leader combine two of them they will be able to see both sides of the picture. Conclusion This research project mainly met my research objectives and answered almost all of my research questions. I have found out that for every employee, not important in where they work openness of their leaders is important. By their leaders openness employees feel more motivated to work, follow their leaders, trust them. Most of the characteristics of being open has been verified by the scholars who wrote previous studies about leaders openness and also by the respondents that responded to the questionnaire. All these activities and characteristics that open leader has will obviously lead any organization in the success. There is a saying that how is your leader you can only be good as him. Leaders play big role in the success but their characteristics more. As a overall conclusion on the research process I can say that it was worth studying. Further leaders should ask themselves whether they are open enough if they are having any problems in the success of the organization. In my opinion further research may expand this topic area and some experimental research should be done in order to have broader understanding of the importance since this project was only conducted with few numbers of respondents and literature review. References Allport, G., 1937. A Psychological Interpretation. Personality. Anne T. Mccart, John Rohrbaurgh, 1995. Managerial Openness to Change and the Introduction of GDSS.. Organization Science, Volume 6, pp. 569-584. Bass, B. M., 1990. A Survey Theory and Research. New York : Free Press. Bass, B. M. (1990). Bass and Stogdill's handbook of leadership. New York: Free Press. Cartwright, S., and C.L. Cooper. 1992. Mergers and acquisitions: The human factor. Oxford: Butterworth-Heinemann. Charlene Li. Open Leadership How Social Technology Can Transform theWay You Lead. Altimeter Group. 2010 Chernyshenko, O. S., Stark, S., & Drasgow, F. (2011). Individual differences: Their measurement and validity. In S. Zedeck (Ed.), Handbook of industrial andorganizational psychology, Vol. 1. (pp. 117–151). Washington, DC: American Psychological Association. 67 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Edwards,W.R. 2003. Openness to change: Correlates and organizational consequences. Dissertation Abstracts International, 63(10): 4950B. Feist, G. J. (1998). A meta-analysis of personality in scientific and artistic creativity. Personality and Social Psychology Bulletin, 2, 290–309. S.K. Ghosh and B.R. Shejwal, 2006. Relationship between Perceived Organisational Values and Leadership Styles. Indian Journal of Industrial Relations, Volume 42, pp. 57-72. Investigating Levels of Openness and Trust between Principals and their Teachers, Southern Regional Council on Educational Administration. 2001 John Adair, Develop your leadership skills, Library of Congress Cataloging-in-Publication Data, 120 Pentonville Road London N1 9JN United Kingdom,2007 Judge, T.A., Bono, J.E., Ilies, R. and Gerhardt, M.W., 2002. Personality and leadership:a qualitative and quantitative review. Journal of Applied Psychology, Volume 87, pp. 765-780. Kets de Vries and M.F.R, Vrignaud, P., Korotov, K., Engellau, E.,Florent Treacy, 2006. The development of the personality audit: a psychodynamic multiple feedback. International Journal of Human Resource Management, Volume 17, pp. 898-917. Kobasa, S.C. 1982. Commitment and coping in stress resistance among lawyers. Journal of Personality andSocial Psychology 42(4): 707–17. Kouzes, James, and Barry Z. Posner. The Leadership Challenge. 4th ed. 989 Market Street, San Francisco: John Wiley & Sons, Inc, 2007. L.M., A., 1991. Technology Support for Cooperative Work: A Framework for Studying Introduction and Assimilation in Organizations. Journal of Organizational Computing, Volume 1, pp. 11-39. Luthans, F., 2008. Organizational Behavior. 11th ed. McGraw Hill, Boston, MA: s.n. Mai, Robert, and Alan Akerson. The Leader as Communicator. 1601 Broadway, New York: American Management Association, 2003. McCrae, R. R.,& Costa, P. T., Jr. (1997). Conceptions and correlates of openness to experience. In R. Hogan, J. A. Johnson, & S. R. Briggs (Eds.), Handbook of personalitypsychology (pp. 825–847). San Diego: Academic Press. Miller, V.D., J.R. Johnson, and J. Grau. 1994. Antecedents to willingness to participate in a plannedorganizational change. Journal of Applied Communication Research 22(1): 59–80. 68 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Niels Van, Quaquebeke,Knippenberg Daan Van, and Eckloff Tilman. ―Individual Differences in the Leader Categorization to Openness to Influence Relationship‖, n.d. Pearce, Craig L., Joseph A. Maciarello, and Hideki Yamawaki. The Drucker Difference. American Bar Association and a committee of publishers, 2010. Robbins, S.P, Judge, T.A, 2007. Organizational Behavior. 12th ed. Englewood Cliffs, NJ.: Prentice Hall. Scott Cambell, Ellen Samiec, 5-D Leadership: Key Dimensions for Leading in the Real World, 1st ed. Davies-Black Publishing, a division of CPP, Inc, Joaquin Road, 2nd Floor, Mountain View,2005 Scott, Shane. Born Entrepreneurs, Born Leaders. 198 Madison Avenue, New York: Oxford University Press, 2010. Tapscott, D., Williams, A.D, 2006. Wikinomics. London: s.n. Warren Bennis, Daniel Goleman, James O‘Toole ―Transparency; How Leaders Create a Culture of Candor‖,2008 Wanberg, C.R., and T.J. Banas. 2000. Predictors and outcomes of openness to changes in a reorganizingworkplace. Journal of Applied Psychology 85(1): 132–42. 69 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1479 Title A name given to the resource Effects of Openness of Leaders in Success of Organizations Author Author KHADYR, Amine SMAJIĆ, Edin Abstract A summary of the resource. Nowadays many seminars, conferences and courses held and books written in order to improve leadership skills of different kinds of leaders from all over the world. However the openness of leaders in the organization has not been mentioned seriously as it is one of the main skills that successful leaders should have. In this research paper my intention was to demonstrate the idea that openness of leaders is directly related with the success of organization. With the present study, I argue that the characteristic of leaders that is openness of leader’s plays as big role for the effectiveness of employees as well as success of the organization. It is very important because many organizations nowadays fail to operate because of its leader’s lacked skills. Keywords: Openness, Leaders, Organization, Success, Effect, Relationship, Communication, Criteria, Effective. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 978-9958-834-23-3 https://omeka.ibu.edu.ba/files/original/bfee1248319b03c62ac478d57ed2f40e.pdf 34ada08ad773fc3737c8010ac43e6f5c PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Effects of Free Trade Agreements on Turkish Foreign Trade; The analysis of the Bosnian and Herzegovinian case Aslıhan Kocaefe Cebeci Gediz University, İzmir, Turkey aslihan.kocaefe@gediz.edu.tr Ali Rıza Sayın Gediz University, İzmir, Turkey ali.sayin@gediz.edu.tr Begüm Maral Gediz University, İzmir, Turkey begum.maral@gediz.edu.tr According to the Customs Union Agreement effectuated on January 1, 1996 between Turkey and the European Union (EU), Turkey has undertaken the EU’s Common Trade Policy and its preferential trade system towards the countries outside the Union which are called the third countries. Within this scope Turkey can sign similar agreements with other states which were present during the signing of the Free Trade Agreement with the EU on the mutual benefit basis. In other words, Turkey can sign Free Trade Agreements only with the countries with which the EU carries out Free Trade Negotiations. In the Free Trade Agreement, different from the Customs Union, the signatory parties remove the customs duties and limitations among themselves but they do not develop a common tariff policy towards the third countries. Therefore each member country is free to impose its own tariff schedule. Furthermore, while free circulation is acceptable according to the Customs Union in the Free Trade Agreements the rules of origin is applied. In this respect, by means of Free Trade Agreements particular targets such as improving our foreign trade activities with neighboring and surrounding countries, maintaining a fair competition environment in the foreign markets in particular in the European market for our import goods, increasing the volumes of mutual investments, increasing the international competitive power of Turkey in joint ventures, improving the economic cooperation between the countries, removing the obstacles preventing the circulation of goods and services and at the same time improving the 42 �International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo political, technological and social relations between the signatory parties, constitute the main focus as a principle. Within this scope, our country is not obliged to accept the content of the Free Trade Agreements signed between the EU countries and the related negotiations should be carried out by taking our industrial and trade policy priorities into consideration. In this respect Turkey has signed Free Trade Agreements with 19 countries in total except for the 10 Central and Eastern European countries with which the signed FTAs have been terminated due to their membership to the EU. 13 of the abovementioned agreements have been signed after 2000. In this study the impact of the Free Trade Agreements signed by Turkey on the Turkish Foreign Trade has been evaluated in terms of both import and export issues. With this purpose, the trade relations between Turkey and the other countries with which FTAs have been signed have been scrutinized by analyzing the pre and post agreement conditions. Finally the bilateral trade relation between Turkey and Bosnia and Herzegovina has been evaluated within the scope of the signed Free Trade Agreement and the pre and post Agreement conditions have also been analyzed. Keywords: Free Trade Agreements, Foreign Trade, Turkish Foreign Trade, Export and Import, Bosnia and Herzegovina 43 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1488 Title A name given to the resource The Effects of Free Trade Agreements on Turkish Foreign Trade; The analysis of the Bosnian and Herzegovinian case Author Author KOCAEFE CEBECI, Aslihan RIZA SAYIN, Ali MARAL, Begüm Abstract A summary of the resource. According to the Customs Union Agreement effectuated on January 1, 1996 between Turkey and the European Union (EU), Turkey has undertaken the EU’s Common Trade Policy and its preferential trade system towards the countries outside the Union which are called the third countries. Within this scope Turkey can sign similar agreements with other states which were present during the signing of the Free Trade Agreement with the EU on the mutual benefit basis. In other words, Turkey can sign Free Trade Agreements only with the countries with which the EU carries out Free Trade Negotiations. In the Free Trade Agreement, different from the Customs Union, the signatory parties remove the customs duties and limitations among themselves but they do not develop a common tariff policy towards the third countries. Therefore each member country is free to impose its own tariff schedule. Furthermore, while free circulation is acceptable according to the Customs Union in the Free Trade Agreements the rules of origin is applied. In this respect, by means of Free Trade Agreements particular targets such as improving our foreign trade activities with neighboring and surrounding countries, maintaining a fair competition environment in the foreign markets in particular in the European market for our import goods, increasing the volumes of mutual investments, increasing the international competitive power of Turkey in joint ventures, improving the economic cooperation between the countries, removing the obstacles preventing the circulation of goods and services and at the same time improving the political, technological and social relations between the signatory parties, constitute the main focus as a principle. Within this scope, our country is not obliged to accept the content of the Free Trade Agreements signed between the EU countries and the related negotiations should be carried out by taking our industrial and trade policy priorities into consideration. In this respect Turkey has signed Free Trade Agreements with 19 countries in total except for the 10 Central and Eastern European countries with which the signed FTAs have been terminated due to their membership to the EU. 13 of the abovementioned agreements have been signed after 2000. In this study the impact of the Free Trade Agreements signed by Turkey on the Turkish Foreign Trade has been evaluated in terms of both import and export issues. With this purpose, the trade relations between Turkey and the other countries with which FTAs have been signed have been scrutinized by analyzing the pre and post agreement conditions. Finally the bilateral trade relation between Turkey and Bosnia and Herzegovina has been evaluated within the scope of the signed Free Trade Agreement and the pre and post Agreement conditions have also been analyzed. Keywords: Free Trade Agreements, Foreign Trade, Turkish Foreign Trade, Export and Import, Bosnia and Herzegovina Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/bdfcc3eea12b47d5b26d9714005eb6dd.pdf 34ada08ad773fc3737c8010ac43e6f5c PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Effects of Free Trade Agreements on Turkish Foreign Trade; The analysis of the Bosnian and Herzegovinian case Aslıhan Kocaefe Cebeci Gediz University, İzmir, Turkey aslihan.kocaefe@gediz.edu.tr Ali Rıza Sayın Gediz University, İzmir, Turkey ali.sayin@gediz.edu.tr Begüm Maral Gediz University, İzmir, Turkey begum.maral@gediz.edu.tr According to the Customs Union Agreement effectuated on January 1, 1996 between Turkey and the European Union (EU), Turkey has undertaken the EU’s Common Trade Policy and its preferential trade system towards the countries outside the Union which are called the third countries. Within this scope Turkey can sign similar agreements with other states which were present during the signing of the Free Trade Agreement with the EU on the mutual benefit basis. In other words, Turkey can sign Free Trade Agreements only with the countries with which the EU carries out Free Trade Negotiations. In the Free Trade Agreement, different from the Customs Union, the signatory parties remove the customs duties and limitations among themselves but they do not develop a common tariff policy towards the third countries. Therefore each member country is free to impose its own tariff schedule. Furthermore, while free circulation is acceptable according to the Customs Union in the Free Trade Agreements the rules of origin is applied. In this respect, by means of Free Trade Agreements particular targets such as improving our foreign trade activities with neighboring and surrounding countries, maintaining a fair competition environment in the foreign markets in particular in the European market for our import goods, increasing the volumes of mutual investments, increasing the international competitive power of Turkey in joint ventures, improving the economic cooperation between the countries, removing the obstacles preventing the circulation of goods and services and at the same time improving the 42 �International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo political, technological and social relations between the signatory parties, constitute the main focus as a principle. Within this scope, our country is not obliged to accept the content of the Free Trade Agreements signed between the EU countries and the related negotiations should be carried out by taking our industrial and trade policy priorities into consideration. In this respect Turkey has signed Free Trade Agreements with 19 countries in total except for the 10 Central and Eastern European countries with which the signed FTAs have been terminated due to their membership to the EU. 13 of the abovementioned agreements have been signed after 2000. In this study the impact of the Free Trade Agreements signed by Turkey on the Turkish Foreign Trade has been evaluated in terms of both import and export issues. With this purpose, the trade relations between Turkey and the other countries with which FTAs have been signed have been scrutinized by analyzing the pre and post agreement conditions. Finally the bilateral trade relation between Turkey and Bosnia and Herzegovina has been evaluated within the scope of the signed Free Trade Agreement and the pre and post Agreement conditions have also been analyzed. Keywords: Free Trade Agreements, Foreign Trade, Turkish Foreign Trade, Export and Import, Bosnia and Herzegovina 43 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1489 Title A name given to the resource The Effects of Free Trade Agreements on Turkish Foreign Trade; The analysis of the Bosnian and Herzegovinian case Author Author KOCAEFE CEBECI, Aslihan RIZA SAYIN, Ali MARAL, Begüm Abstract A summary of the resource. According to the Customs Union Agreement effectuated on January 1, 1996 between Turkey and the European Union (EU), Turkey has undertaken the EU’s Common Trade Policy and its preferential trade system towards the countries outside the Union which are called the third countries. Within this scope Turkey can sign similar agreements with other states which were present during the signing of the Free Trade Agreement with the EU on the mutual benefit basis. In other words, Turkey can sign Free Trade Agreements only with the countries with which the EU carries out Free Trade Negotiations. In the Free Trade Agreement, different from the Customs Union, the signatory parties remove the customs duties and limitations among themselves but they do not develop a common tariff policy towards the third countries. Therefore each member country is free to impose its own tariff schedule. Furthermore, while free circulation is acceptable according to the Customs Union in the Free Trade Agreements the rules of origin is applied. In this respect, by means of Free Trade Agreements particular targets such as improving our foreign trade activities with neighboring and surrounding countries, maintaining a fair competition environment in the foreign markets in particular in the European market for our import goods, increasing the volumes of mutual investments, increasing the international competitive power of Turkey in joint ventures, improving the economic cooperation between the countries, removing the obstacles preventing the circulation of goods and services and at the same time improving the political, technological and social relations between the signatory parties, constitute the main focus as a principle. Within this scope, our country is not obliged to accept the content of the Free Trade Agreements signed between the EU countries and the related negotiations should be carried out by taking our industrial and trade policy priorities into consideration. In this respect Turkey has signed Free Trade Agreements with 19 countries in total except for the 10 Central and Eastern European countries with which the signed FTAs have been terminated due to their membership to the EU. 13 of the abovementioned agreements have been signed after 2000. In this study the impact of the Free Trade Agreements signed by Turkey on the Turkish Foreign Trade has been evaluated in terms of both import and export issues. With this purpose, the trade relations between Turkey and the other countries with which FTAs have been signed have been scrutinized by analyzing the pre and post agreement conditions. Finally the bilateral trade relation between Turkey and Bosnia and Herzegovina has been evaluated within the scope of the signed Free Trade Agreement and the pre and post Agreement conditions have also been analyzed. Keywords: Free Trade Agreements, Foreign Trade, Turkish Foreign Trade, Export and Import, Bosnia and Herzegovina Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/c026dd40ad4cb47c62c58ef8d1aba715.pdf bfc9acc18d39e354562f203050e0db45 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis Gelengül Kocaslan İstanbul University, İstanbul, Turkey kocaslan@İstanbul.edu.tr Oguzhan Özçelebi İstanbul University, İstanbul, Turkey ogozc@İstanbul.edu.tr Suna Muğan Ertugral İstanbul University, İstanbul, Turkey mugan@İstanbul.edu.tr Statistics of Central Bank of Turkey and World Bank provide evidence for the fact that the volume of trade of Turkey with Bulgaria, Romania and Greece may have a positive effect on Turkey’s Economy even under the circumstances of the recent financial crises. Thus, it is important to analyze the impacts of foreign trade volume of Turkey with Bulgaria, Romania and Greece on the real economic activity in Turkey. In this respect, we used time series techniques to make inferences about the possible consequences of regional economic integration. Empirical findings reveal that Turkey may benefit from a regional economic integration between these Balkan Countries. Keywords: Regional Economic Integrations, Balkan Countries, Causality Analysis. JEL Codes: F10, F14, F15. 126 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1540 Title A name given to the resource Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis Author Author KOCASLAN, Gelengul OZCELEBI, Oguzhan MUGAN ERTUGRUL, Suna Abstract A summary of the resource. Statistics of Central Bank of Turkey and World Bank provide evidence for the fact that the volume of trade of Turkey with Bulgaria, Romania and Greece may have a positive effect on Turkey’s Economy even under the circumstances of the recent financial crises. Thus, it is important to analyze the impacts of foreign trade volume of Turkey with Bulgaria, Romania and Greece on the real economic activity in Turkey. In this respect, we used time series techniques to make inferences about the possible consequences of regional economic integration. Empirical findings reveal that Turkey may benefit from a regional economic integration between these Balkan Countries. Keywords: Regional Economic Integrations, Balkan Countries, Causality Analysis. JEL Codes: F10, F14, F15. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/aa644292d8dbd7f6008b992dc222f6c6.pdf 218b427516ed74fc8aafdcebbca1c037 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo ICT Use in Small and Medium Enterprises for Development in Vlora Region Ermelinda Kordha University “Ismail Qemali”, Vlore, Albania ermes.k@gmail.com Gorica Klodiana University of Tirana, Tirana, Albania klodi_gorica@yahoo.com Fioralba Vela University “Ismail Qemali”, Vlore, Albania fiorivela@yahoo.it Brokaj Rezarta University “Ismail Qemali”, Vlore, Albania rezartab@gmail.com Republic of Albania, in its efforts to build a sustainable growth of the country and the region, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society. According to the strategy document for ICT 2007-2013, a document of Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also private sector and businesses. Implementation, on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. 106 �International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study will include surveys through structured questionnaires, to identify some very important aspects of ICT use in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the value chain between clients and suppliers, small number of operation abroad and types of sectors most developed in the region create some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solution recommended for the relatively low level of ICT use in the region. Keywords: ICT Use, SME, Businesses, Economic Sector, Clients, Suppliers, Effective Operations, Vlora Region. 107 � https://omeka.ibu.edu.ba/files/original/6006075c0f26b172d810166a9396a78d.docx 4c66112fd2f0f7279613d253b9797c77 https://omeka.ibu.edu.ba/files/original/c86276f257ecfbb5873b9f4e0542b90d.pdf db723dab3be922f29141aadad873f8c6 PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo ICT use in Small and Medium Enterprises for development in Vlora region Ermelinda Kordha University “Ismail Qemali”, Vlore, Albania ermes.k@gmail.com Gorica Klodiana University of Tirana,Tirana, Albania klodi_gorica@yahoo.com Fioralba Vela University “Ismail Qemali”, Vlore, Albania fiorivela@yahoo.it Brokaj Rezarta University “Ismail Qemali”, Vlore, Albania rezartab@gmail.com Abstract Republic of Albania, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society, in order to build a sustainable growth in the regional context. According to the strategy document for ICT 2007-2013, a document of the Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also the private sector and businesses. Implementation , on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by the orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study willincludesurveysthroughstructuredquestionnaires, to identify some very important aspects ofICTuse in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo value chain between clients and suppliers , a small number of operations abroad and types of sectors most developed in the region creates some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solutionsrecommended for the relatively low level of ICT use in the region. Keywords: ICT use, SME, businesses, economic sector, clients, suppliers, effective operations, Vlora region. Introduction Starting a business in today's environment brings opportunities and challenges. Changing lifestyles demand greater choice of products and services. New technologies and greater access to global markets have provided increased business opportunities. At the same time increased competition, insistence on quality and unremitting pressure for lower costs, just to mention some issues, represent major challenges for business. For Small and Mediumsized Enterprises (SMEs) the challenge is greater. They lack scale, resources and the capacity to handle complex business management. Typically, less than half survive more than five years and only a small proportion go on to become large companies. Entrepreneurship and enterprise development are important elements in creating dynamic market economies. SMEs is a vital source of new jobs, exports and economic contribution to the countries. How to ensure the growth of the SME sector - a fundamental feature of all developments and growing economies - is a major policy challenge for all countries. Literature review Entrepreneurship can take many forms and can be defined in many ways. In our paper we focus on entrepreneurship as it takes place in small and medium size enterprises (SMEs) since the two are often found to be closely related. As noted ‘Small firms are the vehicle in which entrepreneurship thrives (Wennekers and Thurik, 1999).In the last ten years, governments in the transition countries have introduced a number of policies aiming to promote entrepreneurship through SME development, since SMEs compose a very large part of enterprises in these countries. Limited access to finance, a low degree of professionalism, difficulties in recruiting qualified personnel, depending on clients and suppliers and the absence of economies of scale are identified as the core SME sector weaknesses and the main areas where SMEs may require special attention (Burns, 2001). A number of authors have identified the distinct characteristics of entrepreneurship and SME activities in transition countries where the environment is undergoing quite dramatic changes (Dallago, 1997; Scase, 2000; Chilosi, 2001; Smallbone & Welter, 2001; Aidis, 2006). Though it is often argued that SME development is especially crucial for the early phases of transition (EBRD, 1995; Smallbone and Welter, 2001), it is, in fact, just as important for the advanced stages of post-transition. As M. Porter (1990) has argued, invention and entrepreneurship are at the heart of national advantage and country competitiveness. So the new technologies may be an important aspect to be focused on the efforts for developing the SME sector for the purpose of development. In this context, SME usage of ICT ranges from basic technology such as radio and fixed lines to more advanced 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo technology such as email, e-commerce, and information processing systems. Using advanced ICT to improve business processes falls into the category of e-business.However, not all SMEs need to use ICT to the same degree of complexity. The first ICT tool that most SMEs adopt is having basic communications with a fixed line or mobile phone, whichever is more economical or most convenient for their business. This allows the SME to communicate Like any firm, an SME decides which type of ICT products to adopt based on the concrete benefits they can bring to its core business, the ICT capacity of its employees, and the financial resources available. Most people are familiar with basic ICT such as fixed phone lines, mobile phones, fax, computers, and basic document processing software – like Microsoft Office. Advanced communication technology, however, is more complex. Advanced communication technology relies primarily on the Internet and the intranet, which allow people within the firm to share files with each other over the same network. Having an Internet connectivity enables firms to do faster research, set up websites, conduct e-commerce, and set up video conferences. One of the most revolutionizing developments in advanced communication technology is Voice over Internet Protocol (VoIP). Methodology of the study The results of this study are based on a research survey of 141 SME-s in Vlora region classified according to revenues. The methodology included a stratified random sampling of 141 out of 784 companies in the region requiring the regulated factor of a finite population for the sample size. The interviews were administered as face to face interviews with the study group in a period from May till September 2012.Some of the difficulties encountered in the field interviews were resolved with a fulfillment of the sample with a judgment sample of some bigger companies according to revenues and classification in tax payment. Albanian general situation Actual statistics of enterprises in Albania, measured by INSTAT intended to representthe structure ofeconomicactivitiesthrougheconomicindicators. Data show that - Enterprises with 20 or more employees dominate the economy, from the point of view of number of employees and also turnover and investments. In 2010, there were 75.4 thousand enterprises where 1666 are with 20 and more employees. These big enterprises employ about 46 percent of the employed of the country, while they have also achieved 60 per cent of the turnover and 71 per cent of the investment. On the other hand, small and medium-sized enterprises (SMEs) have a crucial role in the transition process. SMEs already makes up the vast majority of private businesses operating in Albania. Enterprises with 1-4employeesoccupy91percentofenterprises, achieving 17percentof turnover. Small enterprises arethe dominantproducers ofservices. Because of their size and adaptability they are likely to be the main source of employment generation in the future. As in mature market economies, a vibrant SME sector will eventually become not only a provider of employment, but also a key source of innovation, entrepreneurship and productivity growth. For these reasons, improving the business environment for SME development is a key objective of the policy framework in Albania. The Albanian authorities are increasing the support given to the SME sector, in recognition of the growing importance ofSMEs to the national economy. This political support is manifested in developments such as: • The approval of a medium term-strategy for SME development. 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo • The efforts to improve the legal and institutional framework for the business sector. • The efforts to create a Small Business Development Agency. Substantial emphasis on performance assessments has been placed in eliciting the views of private SMEs on their past experience and perception of the key barriers to business and new investment, and their assessment of progress in implementing policies to encourage the development of SMEs. Part of this improvement, according to national strategies is also the involvement of ICT use in their business processes. One of the greatest projects involving SME and the use of technology is SME training for ICT user. SMEs can benefit either as producers of ICT or as users of ICT for purposes such as increased productivity, faster communications and reaching new clients. However, it must be noted at the outset that not all SMEs need to adopt ICT tools to the same degree of sophistication. The most basic ICT tool is having communication capabilities through fixed lines or mobile phones, whichever is more cost effective. SMEs may then use a personal computer (PC) with basic software for simple information processing needs such as producing text or keeping track of accounting items. Internet access enables SMEs to have advanced communication capabilities such as email, web browsing and launching a website. SMEs in manufacturing can benefit from more advanced ICT tools such as Enterprise Resource Planning (ERP) or inventory management. SME IN VLORA REGION Whereas the majority of the region‘s enterprises (95 percent of the overall number) are small ones with just 1-5 employees and only the remaining 5 percent employ more than 6 employees. Although there are only a few large companies with over 80 employees, they actually employ 26,5 percent of the overall number of employees working in the region‘s active enterprises. More people are employed in production, trade and service enterprises. Table 2.2 below provides information about the active enterprises in the Region of Vlora. Survey results This study is focusedon the actual and potential use of Information and communication Technologies, ICT). The goal is to study the use of the businesses, especially the Small and Medium Enterprises, SME, since it is considered from a lot of authors in the field, as well as from the directives of European Union Projects, that ICT is a powerful engine for economic development in the region and in the local level. The strategy of the study, includes the survey through structured questionnaires, to identify the demand aspects of ICT. The users are businesses and the interviewee, managers and owners of 127 SME-s are selected through a probability sample methodology, explained thoroughly in the Anex 1. Even though , during the implementation it is combined for the sake of the important information missing, with a judge methodology in only 15% of the cases. DESCRIPTIVE STATISTICS It is easily seenthatthe types ofactivitiesof companies thatare partof the study aremainlyinthe trade and servicessector, reflecting the distributionof businessesand companiesin our country. 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Figure 1 Percentage of companies according to sector Type of activity 5% 6% Tourism 10% Services 36% 39% Gambeling Trade (industrial goods and food) 4% Somebusiness characteristicsdirectlyreflect their conditionsfor ICT use. Thus, participation in agroup, having a network of suppliersor certification, are characteristicsthat createconditionsfor theneed anddemandby the companiestouse, not justcomputersandICTequipment, but also for elements of Information systems, such as databases, telecommunication networks, Electronic Data Interchange and e-commerce technologies Fig 2 shows that companies that are part of a group are in a small number, implying that these companies may not demand for ICT in the near future. The data about local network of suppliers, on the other hand, show that 59% of the businesses are part of such a network, so they can build further relationships with their network, using the benefits that offer Information Systems. Figure 2 Characteristics relied to conditions for ICT use. 1% Companies that are part of a group 7% Yes No No answer 92% Local network of suppliers 2% Yes 39% 59% No No answer 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The study has shown a high nonresponse rate in most of the questions that have sensitive information, such as the time of creation and declaration of yearly revenues. It remains clear the problem that businesses have with giving information because of lack of confidence in different state institutions, including research studies. In relation with the demand trend for product/services of the companies interviewed, 45% of the companies declare that their demand is stable, 33% have experienced a declining demand, while only 20% declare rising demand for their product/services. Figure 3 Demand for products/services of businesses Past demand for products/services 2% 33% Raising 20% Stable 45% Declining No answer GENERAL INDICATORS Animportant indicator forthe use oftechnologyin organizationsis the number ofcomputers.Infactfrom the questionnaire wecan seethe percentage of theorganizations that haveat least one computer, and aswe seethe percentageis higher, but notvery satisfying. About75% of companies haveat least onecomputerormany devices,from whichonly61% have PCs,only25% have notechnology. We seethatthe basictechnologyis widespreadin organizations. But what comes next, since the numberof computers isonlyan initial indication. Secondlyaboutthe varietyofICTequipment, we see that the numbersare deluded, 4% have aninternalserver(i.e.Usenetworking) and2% have iPhones, technologies that today is used from companies in very modern networks, called cloud computing . Only 1% have other technologies, such as notebook, netbook, etc. Figure 4 Companies according to type of ICT devices used Type of ICT devices PC 25% 2% 1% 1% 4% Workstation 61% Netbook Internal server 1% Smartphones 5% 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo TypesofInternetconnectionsare also anindicator oftechnologicaldevelopmentand the needforcommunication andfast dataexchange. In fact they are an indicator for quality of service provided and the type of activities that are supported from these connections. Figure5 shows that the companieseitherhave noInternetconnection, 36%, orhave some connection type with satisfactoryspeed levels suchasADSLservices, used in51% of cases.Broadband technology, which hasthegreaterspeed, assuring so the quality of connection,is far fromwidespread.A small part of companiesstillconnectedthrough the modem. Figure 5 Companies according to type of Internet connection Type of Internet connection 2% Broadband ADSL 36% DSL 51% Modem Cell phone 2% Don't know 1% No Internet connection 5% 3% Networking technologiesare animportantindicatorwhen consideringnot just the spread ofICTin organizations, butthefullexploitationofICT toimpact thebusiness processesanddecision making.Here youcan see thatAlbanianbusinesseshave not yet joinedthese levels, because66% of the respondentsdo nothavetechnologies that usenetwork connections. Figure 6 Network Technologies used by businesses Type of technology (network) used Web phone-calls 17% Intranet 10% 66% 0% Extranet 2% Virtual Private Network 5% SAAS No Technology 7 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Another element ofthe use oftechnology inorder to increase theproductivityofthe company'sactivitiesisthe Website.Today, thistechnologicaltoolisusednotsimplyandsolely forinformationandpromotionof the company, butlargelyfor the realization ofbusiness transactions, saving time, energy andbureaucracyin theprocess. Even in this case,there is anabsence. The percentage ofcompanies witha website is verysmall comparedwith the standards ofcompaniesin developed countries. Only15% of the interviewed companieshave aWebsite.Thisis a figurein factthat has changedcompared withthe first phase ofthe study,where the percentage ofsurveyedcompanieswith Website wasgreater. In the second phase, the overall sample includes companies with a year revenue that categorizes them in the big business, but their activities are mainly manufacturing businesses,oreven tradeproductsthat do notdevelopthistypeofelectroniccommerceandfocuson the demandmainlyindomesticmarkets. Their activities include onlyimport of productsor raw materials from foreign markets. If companies target the global marketplace and seek to enlarge their activities, there are opportunities to use technology through the newest modelsofelectronic business. Eventhose companiesthat have a Web site, use it inmost ofthe casesforpromotionand only2of themforonlinetransactions. Figure 7 Percentage of companies with Website Companies with Web site 15% Yes 85% No Figure 8 Companies using specific software to support their business processes Business processes using specific software 1% Accounting 6% 14% 15% 5% 8% 12% Management control Staff management Purchase management 20% 7% 7% 5% Operations management Production technology Inventory management Shipments 0% 8 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In relationwiththe use ofspecificsoftware to support business processes, we can saythatthe small percentage ofcompanies which are included, use them mostly forthe management ofpurchases andsales and less forfunctions likeaccountingandstaffmanagement. Functionssuch as productionand operations do not use technology. Opportunities for future use of ICT Finally, despite the current low or high levels of different ICT, we asked about the interviewed perceptions of the ICT value in different company activities.. They do not consider technology as very important, in any of the activities. The largest impact is estimated to be in the work efficiencies and reporting and control, while that's somewhat less in the image and still less in cost. Figure 9 The perceptions on ICT importance in business Importance of ICT in company operations ICT impact on costs ICT Impact on image Importance of Web-site Reporting and monitoring Labour eficency 0 0.5 1 1.5 2 2.5 3 3.5 4 These responses reaffirm that the stage of using ICT is low because such is the perception on the value it has in the company. CONCLUSIONS AND RECCOMMENDATIONS Despitethe challengesfacingAlbaniaandother developingcountries, computertechnologiesandotherICTshaveatremendous potentialtohelp overcomethem.Thisrequires notonlypublic sectorleadership, but also private sector commitment. Vlora region, as one of the biggest region in the country has lately experienced economic development through some very important sectors in the economy such as Agriculture, Tourism, Fishing, Trade of commercial goods. Vlora region supports its economic development through the management of a lot of natural and cultural resources and heritage. Since SMEs constitute a very important part of the economy, from the viewpoint of the number of enterprises, but also from the perspective of future developments, this study tried to give the state of the art in regard of ICT spread and use within SMEs. a. The greatest percentage of SMEs is part of trade, service and tourism sectors. The recommendation here is the incitement of specific software 9 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo use, since these sectors, especially tourism, depend on the good management of natural, cultural and human resources. b. A very small part of companies are part of a group or have certifications for their products, while a bigger number are part of a network of suppliers. It is very important in this aspect, to incite SMEs for using the local suppliers and for creating long-term relationships through ICT use, for communication and data sharing through e-mail or Internet. 2. Types of technologies used are below the desired and appropriate level. Most of the companies have only PCs, and a relatively high percentage does not use any devices. They have Internet connections with ADSL services and their mobile devices, but there are still businesses that connect through a modem. a. The actual spread of computers and technology should be the beginningof a more planned and useful approach to businesses, especially thinking of their shortages or problems. b. Encouriging the use of services of SMEs and companies in ICT sector such as outsourcing companies will, not only help the proper development of Information Systems and ICTs inside other sectors, but will help in the development of the ICT sector itself in Vlora region. c. Using social networks or other Internet platforms, as a tool for getting clients or serving them better will help SMEs-s especially those in the service sector and tourism. Appropriate use for business must bring more revenues by satisfied clients as well as by more clients or more expensesto the company. References Aidis, R. (2006), Laws and Customs: Entrepreneurship, Institutions and Gender During Transition. SSEES Occasional Series, University College London, London. Aidis and Sauka, Enterpreneurship in a changing environment: Analyzing impact of transitional stages on SME development, Inter-RENT online publication, 2005. Burns, P. (2001), Entrepreneurship and Small Business. Palgrave Macmillan. Chacko J. G. ICT, SMEs and business development UNDP-APDIP, National Workshop on Capacity Building in Public Policy issues of Internet Use for Business Development in Asia and the Pacific, 15-16 August 2007, Phnom Penh, Cambodia Chilosi, A. (2001), Entrepreneurship and Transition. MOST 11:327 –357. Dallago, B. (1997), The Economic System, Transition and Opportunities for Entrepreneurship. Chapter 7, pp. 103-124 in Entrepreneurship and SMEs in Transition Economies, The Visegrad Conference. Paris: OECD. Wennekers, S. & Thurik, R. (1999), Linking Entrepreneurship and Economic Growth. Small Business Economics 13:27-55. 10 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Smallbone, D. & Welter, F. (2001), The Distinctiveness of Entrepreneurship in Transition Economies. Small Business Economics 16:249-62. 11 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1531 Title A name given to the resource ICT Use in Small and Medium Enterprises for Development in Vlora Region Author Author KORDHA, Ermelinda KLODIANA, Gorica VELA, Fioralba REZARTA, Brokaj Abstract A summary of the resource. Republic of Albania, in its efforts to build a sustainable growth of the country and the region, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society. According to the strategy document for ICT 2007-2013, a document of Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also private sector and businesses. Implementation, on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study will include surveys through structured questionnaires, to identify some very important aspects of ICT use in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the value chain between clients and suppliers, small number of operation abroad and types of sectors most developed in the region create some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solution recommended for the relatively low level of ICT use in the region. Keywords: ICT Use, SME, Businesses, Economic Sector, Clients, Suppliers, Effective Operations, Vlora Region. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 978-9958-834-23-3 https://omeka.ibu.edu.ba/files/original/d8d9ff775da17be7232ce64ff82dd07d.pdf 984426806807aa78b5e1c4cd8c7e0d0e PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Human Resource Management in the banking sector in Sarajevo Nerma Kulo International Burch University, Sarajevo, Bosnia and Herzegovina Erkan Ilgün International Burch University, Sarajevo, Bosnia and Herzegovina eilgun@ibu.edu.ba The aim of this paper is to highlight the importance and scientific pursuit "human side”, and the necessity of implementing the strategy of motivation to employee performance. During the last hundred years the work has been transformed from assembly line production to more creative one, where machinery took over the all repetitious and routine tasks, giving people possibillity devotion to that business process parts, which requested creativity, adaption and innovation. In that new economy the main management tasks have been completely changed. In assembly line production and „old economy“ the main management tasks were establishing of clearly defined system and as precise as possible control of that system. The main manager task in the new economy is developing potentials of every employee and choosing the right working team which will possess the optimal capability for work accomplishing. The research alone has the task to understand the relationship between institutions and employee performance. What makes some employment relationships successful, and causes others to fail? What is the role of government and the law in enhancing the performance of existing and new employment relationships? These are key questions for personnel economics. Personnel Economics analyses how to model the relationship between such psychological factors, individual workplace performance, and general labor market outcomes. Every bank and financial institution is involved in various functions in a day's job and thus requires a highly effective team and appropriate manpower to run the show. Corporate goals are translated into viable realities and profits only with human element who play their due role in achieving the desired results. An important reason for the need of designing work motivation is the need for understanding the mechanisms of behavior as a basis for the system to motivate. One of the key strategic task managers today becomes effective management of human resources in the context of the construction of a coherent system of motivation.Keywords: Discrete Time, the Vasicek Model, Interest Rate. Keywords: Personnel Economics, Motivation, Employee Performance, Motivation Strategy, Employment Relationships. 223 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1617 Title A name given to the resource Human Resource Management in the banking sector in Sarajevo Author Author KULO, Nerma ILGÜN, Erkan Abstract A summary of the resource. The aim of this paper is to highlight the importance and scientific pursuit "human side”, and the necessity of implementing the strategy of motivation to employee performance. During the last hundred years the work has been transformed from assembly line production to more creative one, where machinery took over the all repetitious and routine tasks, giving people possibillity devotion to that business process parts, which requested creativity, adaption and innovation. In that new economy the main management tasks have been completely changed. In assembly line production and „old economy“ the main management tasks were establishing of clearly defined system and as precise as possible control of that system. The main manager task in the new economy is developing potentials of every employee and choosing the right working team which will possess the optimal capability for work accomplishing. The research alone has the task to understand the relationship between institutions and employee performance. What makes some employment relationships successful, and causes others to fail? What is the role of government and the law in enhancing the performance of existing and new employment relationships? These are key questions for personnel economics. Personnel Economics analyses how to model the relationship between such psychological factors, individual workplace performance, and general labor market outcomes. Every bank and financial institution is involved in various functions in a day's job and thus requires a highly effective team and appropriate manpower to run the show. Corporate goals are translated into viable realities and profits only with human element who play their due role in achieving the desired results. An important reason for the need of designing work motivation is the need for understanding the mechanisms of behavior as a basis for the system to motivate. One of the key strategic task managers today becomes effective management of human resources in the context of the construction of a coherent system of motivation.Keywords: Discrete Time, the Vasicek Model, Interest Rate. Keywords: Personnel Economics, Motivation, Employee Performance, Motivation Strategy, Employment Relationships. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/2675fb8e55e2e10ea9995e47ecfe7c75.pdf 1ecb97d803c0d10a5a35460518cb71bb PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Capital Market in Bosnia and Herzegovina: Unused Potential as Alternative Source of Financing Tarik Kurbegovic Sarajevo Stock Exchange, Sarajevo, Bosnia and Herzegovina tarik.kurbegovic@sase.ba One of the most important factors of conducting business successfully and also in achieving the interests of the owner of entity is adequate structuring of source of financing of company or institution. Debt as a source of financing has its advantages in terms of potential of increasing of wealth for the owner of capital. The thing that we are speaking about is optimizing relationships of debt to ownership capital. On the other side, debt alone as source of finance can be realized on a several ways, where plenty of factors influence that choice. We mean here on financing through bank credits versus financing by emission of debt securities. The size of company or institution together with the financial system is most important factors that determine not only the way of financing through emission of debt securities but also considering it as a option or a possibility. In the past few years in B&H the possibility of finance big infrastructural projects through emission of debt securities has been often mentioned. Until now neither one of these projects has been financed in this way. About this problematic can be spoken from many aspects such as: strategic decisions, limits concerning budget deficit, technical conductions, efficient managing of public debt and so further. If it is about financing of corridor 5C or about financing infrastructural projects on the local level, bank loans determine the way of financing in Bosnia. In most case these loans are offered by international finance institutions or some countries. On the other side by emission of bonds issued either by state/entity or more concrete public company „Autoceste FBiH“, the state itself would become investor. Thus the state, entity, municipality and citizens instead of trading with bonds that are used with aim to cover budget deficits can be used for infrastructural projects and development. These are the facts that we want to consider when we speak about capital market as alternative source of financing trying to reach what are the advantages and disadvantages of emission of debt securities, what are the possibilities, techniques and benefits of financing of infrastructural projects through bonds. Keywords: Capital Market, Debt Securities, Bonds, Alternative Financing. 265 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1590 Title A name given to the resource Capital Market in Bosnia and Herzegovina: Unused Potential as Alternative Source of Financing Author Author KURBEGOVIC, Tarik Abstract A summary of the resource. One of the most important factors of conducting business successfully and also in achieving the interests of the owner of entity is adequate structuring of source of financing of company or institution. Debt as a source of financing has its advantages in terms of potential of increasing of wealth for the owner of capital. The thing that we are speaking about is optimizing relationships of debt to ownership capital. On the other side, debt alone as source of finance can be realized on a several ways, where plenty of factors influence that choice. We mean here on financing through bank credits versus financing by emission of debt securities. The size of company or institution together with the financial system is most important factors that determine not only the way of financing through emission of debt securities but also considering it as a option or a possibility. In the past few years in B&H the possibility of finance big infrastructural projects through emission of debt securities has been often mentioned. Until now neither one of these projects has been financed in this way. About this problematic can be spoken from many aspects such as: strategic decisions, limits concerning budget deficit, technical conductions, efficient managing of public debt and so further. If it is about financing of corridor 5C or about financing infrastructural projects on the local level, bank loans determine the way of financing in Bosnia. In most case these loans are offered by international finance institutions or some countries. On the other side by emission of bonds issued either by state/entity or more concrete public company „Autoceste FBiH“, the state itself would become investor. Thus the state, entity, municipality and citizens instead of trading with bonds that are used with aim to cover budget deficits can be used for infrastructural projects and development. These are the facts that we want to consider when we speak about capital market as alternative source of financing trying to reach what are the advantages and disadvantages of emission of debt securities, what are the possibilities, techniques and benefits of financing of infrastructural projects through bonds. Keywords: Capital Market, Debt Securities, Bonds, Alternative Financing. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/3d9714e87833183418b6372fbb76c79a.pdf 35cbc570b58d7bd26949b04c8d321cf6 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Relationship between Human Capital and Economic Growth in Post-1980 Period in Turkish Economy Ünzüle Kurt Ardahan University, Ardahan, Turkey unzulekurt17@gmail.com Endogenous growth theory is based on the idea that there are some factors in the growth process in economies that cannot be explained with human capital. Endogenous growth theory developed by Romer, contrary to the neo-classical growth theories explaining the economic growth with physical production factors, discusses that the human capital has an important place among the dynamics of economic growth. In the study, human capital factor, having a significant place in the growth process of today’s economies, is discussed as a human development index, and its effect on growth rate is analyzed for the period 1980-2011. According to the results of the analysis, a cointegration relationship was detected to be present between human development index and growth rate; however, no causality relationship was observed in the short term. Keywords: Endogenous Growth Theory, Human Capital, Economic Growth. 271 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1666 Title A name given to the resource The Relationship between Human Capital and Economic Growth in Post-1980 Period in Turkish Economy Author Author KURT, Unzule Abstract A summary of the resource. Endogenous growth theory is based on the idea that there are some factors in the growth process in economies that cannot be explained with human capital. Endogenous growth theory developed by Romer, contrary to the neo-classical growth theories explaining the economic growth with physical production factors, discusses that the human capital has an important place among the dynamics of economic growth. In the study, human capital factor, having a significant place in the growth process of today’s economies, is discussed as a human development index, and its effect on growth rate is analyzed for the period 1980-2011. According to the results of the analysis, a cointegration relationship was detected to be present between human development index and growth rate; however, no causality relationship was observed in the short term. Keywords: Endogenous Growth Theory, Human Capital, Economic Growth. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/784ee7aa81c2221d7f56baf386194160.pdf 468057baa2b1846b91511dfe91e97495 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Effects of Advertising on Sales: the Evidence from Bosnia and Herzegovina Cemil Kutay Tınmaz International Burch University, Sarajevo, Bosnia and Herzegovina cemilkutaytinmaz@gmail.com Elif Öztürk International Burch University, Sarajevo, Bosnia and Herzegovina eozturk@ibu.edu.ba This paper, presents effects of advertising on sales. As it is known, advertising is most important term to sell specific products. Firstly, the meaning of advertising is explained in this study. In addition to the explanations, advantages and disadvantages of advertising are investigated. There are also general definitions to underline the importance of advertising. Moreover, survey technique is explored in this study. Also, effects of advertising on sales are illustrated by graphs according to the findings of that survey. Additionally, this study includes explanations of all effects that are occurred by the research. As a result of this study, there are positive effects of advertising on sales. Keywords: Advertising, Effect of Advertising, Sales. 76 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1519 Title A name given to the resource Effects of Advertising on Sales: the Evidence from Bosnia and Herzegovina Author Author KUTAY TINMAZ, Cemil ÖZTÜRK, Elif Abstract A summary of the resource. This paper, presents effects of advertising on sales. As it is known, advertising is most important term to sell specific products. Firstly, the meaning of advertising is explained in this study. In addition to the explanations, advantages and disadvantages of advertising are investigated. There are also general definitions to underline the importance of advertising. Moreover, survey technique is explored in this study. Also, effects of advertising on sales are illustrated by graphs according to the findings of that survey. Additionally, this study includes explanations of all effects that are occurred by the research. As a result of this study, there are positive effects of advertising on sales. Keywords: Advertising, Effect of Advertising, Sales. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564