165 10 3494 https://omeka.ibu.edu.ba/files/original/85f697198325b26be8d16225f151016f.pdf 0f85c0a92f2ed19b35fb5267154269ec PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Modeling and Adoption of Social Media Marketing in Small and Medium Firms in North-Eastern Bosnia and Herzegovina Amir Čočid International Burch University, Sarajevo, Bosnia and Herzegovina adriano_amir1990@hotmail.com Teoman Duman International Burch University, Sarajevo, Bosnia and Herzegovina tduman@ibu.edu.ba The purpose of this study is to research whether the market in Bosnia, with the focus on north-eastern Bosnia and Herzegovina region poses enough capacity, and whether social media marketing could be adopted as an efficient way of advertising and promoting goods. It is obvious that Bosnia and Herzegovina is one of the poorest country in Europe, and firms in country believes in traditional marketing. There is small precentage of firms, that is raising by year, that are trying to develop an efficient way of promoting their goods by social networks, and small percentage that are getting in touch with social media marketing for the first time in any possible way. Researcher chooses survey method to be the main research tool. Model which will be used for adoption will be consisted of 5 stages: awareness, interest, evaluation, trial, and adoption (or rejection). Researcher found that brand awareness, website traffic, customer satisfaction, positioning a brand, and youth population, as a variable for research, all play roles in the adoption process of social media. At the end through theoretical framework and results gained, study will help to identify which organization will or can adopt social media marketing as an improved way of their company. Keywords: Bosnia and Herzegovina, Social Media, Adoption, Model, Company 37 � https://omeka.ibu.edu.ba/files/original/33b151becaa5af105f1af8a47b35bb6d.docx 523cafb4d1ee9030840a7d5d92bffb32 https://omeka.ibu.edu.ba/files/original/cea02ee81b36abc90bafa1dd95509d21.pdf d2eacea5f87ae57d40a789d0fd9fa35e PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Modeling andAdoptionofSocial MediaMarketing in Small andMediumFirms in North-EasternBosniaand Herzegovina AmirČočić InternationalBurchUniversity,Sarajevo,Bosnia and Herzegovina acocic@outlook.com TeomanDuman InternationalBurchUniversity,Sarajevo,Bosnia and Herzegovina tduman@ibu.edu.ba Abstract ThepurposeofthisstudyistoresearchwhetherthemarketinBosnia,withthefocus onnortheasternBosniaandHerzegovinaregionposesenoughcapacity,andwhethersocial mediamarketingcouldbeadoptedasanefficientway ofadvertisingandpromotinggoods.Itis obviousthatBosniaandHerzegovinaisoneofthepoorestcountriesinEurope,andfirmsin country believeintraditionalmarketing.Thereissmallpercentageoffirms that is rising by year, that are trying to develop an efficient way of promoting their goods by social networksand smallpercentagethataregetting intouchwithsocialmediamarketing forthefirsttimeinany possibleway.Researcherchoosessurvey methodtobethemainresearchtool.Modelwhichwill be usedforadoptionwillbe consistedof 5stages:awareness,interest,evaluation,trial,and adoption(orrejection).Researcherfoundthatbrandawareness,website traffic,customer satisfaction, positioning abrand,andyouth population, as avariableforresearch,allplayroles in theadoptionprocessofsocialmedia.Attheendthroughtheoreticalframeworkandresults gained,studywillhelptoidentifywhichorganizationwillorcanadoptsocialmediamarketi ng as an improved wayof their company. Keywords:BosniaandHerzegovina, Social media, Adoption, Model, Company Introduction Have you had a goodconversation lately?What do you remember about it?Who you enjoy having conversation with? Conversationsrequire people, andthe purposeof socialmediaistoempower andenable conversationsdigitally(ChrisBrogan,2010). Considering therecentrecession,firmstriedto developanewcost-effectivemarketing strategy.Strategywasallaboutsocialmedia,phenomena withremarkableadvantagesinbusinessarea.Socialmedia referstoonlinecommunitiesthatare participatory,conversational,andfluid.Thesecommunities enable members toproduce,publish, control,critique,rank,andinteractwithonlinecontent(Tracy L.Tuten,2008).Socialmedia marketing offers the onelargestchanceforentrepreneurs, smallbusinesses,mediumcompanies, andlargecorporationstobuildtheir 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo brandsandtheirbusinesses.The “social” in“Social Web” impliesmore thantechnology,more thanthenetworkswhere peoplepostphotosandreview books: It‟s less about the “what” and more about “how, why, and among whom” that distinguishesthe SocialWebfromearlier,transactionalonlinetechnologies(DaveEvans&Jake McKee, 2010) Duetoitsparticularly costreducingaffects,it‟sconsideredthatithasbecomethemostpreferred marketingdriveramongbusinessenvironmentundereconomic turmoil.For thisreason,firms havepreferredtoemploysocialmediaasthebestway toreachtheircustomersaftertheglobal recession,astherecenteconomiccrisis.Researchesabouttheissuealsoshowthatbothsmall andbigfirmshaveallocatedmoreresourcestosocialmedia(A.KazımKirtiş,FilizKarahan, 2011). PandemicofthesocialmediaandnetworksbasedonWeb2.0didn‟tmisstheWestern Balkans, orthecountriesintransition,primarilyBosniaandHerzegovina,which,considering the population,canboastthatevery thirdinhabitantisregisteredontheplanetary popularFacebook. YouTube,MySpace,Twitter,Hi5andothersocialnetworks(media)alsohave their supporters, anditisnotunusualthatone person hasmore profiles(accounts)onseveralsocialmediaatthe same time(Sejn Husejnefendic, MirzaMehmedovic, 2011). Atthebeginning ofthisstudy,relevantliteraturesincludingarticles,booksandinternetwere reviewed.Basedonthatliterature review,researcherdevelopedamodeloffive stagesincluding awareness,interest,evaluation,trialandadoption(orrejection). Thosestageswillbetested throughresultsfromsurvey.Survey isconsistedofthreeparts:identificationofthesocialmedia use innortheastern BiH,perceptionsof the employeesonthe effectofsocialmedia andthe demographicspart.Itisconsistedof18questions.Parttwoconsistfrom5 questionsthatinclude variableschosenintheresearchfor finaloutcome andpossibleadoptionof socialmedia.Those variables are already mentioned in abstract section, brand awareness, brand positioning, customer satisfaction,and websitetrafficandyouthpopulationeffect.Finally, dataanalysiswill beprovided based on researchframework,thenfindings andconclusions at the end. Literature Review Ultimately, everything social media enables is a new form ofword ofmouth. And word of mouth trumpsmostotherformsofcommunicationininfluenceonmany purchasedecisionsand opinions.Forbrands,socialmediaisanimperativeway toembrace,inanyway they can,the power of word ofmouth(JohnH. Bell,2009).Amajor dilemma inthe use of socialmediais where t o positionitintheorganization.Doesitbelongtomarketing?Customerservice?Oris thisastrategicissue?Mostmodelsforimplementationofsocialmediaarestep by stepmodels. Forresterresearchhasdevelopedmethodtocarefully setupsocialmediainanorganization. Forrester(POST)modelisfour-stepapproachtothesocialstrategywhichrepresentspeople, objectives,strategyandtechnology.It'stimetostopdoingsocialbecauseit'scool.It'stimeto start doing it because it's effective (Josh Bernoff, 2007). How canorganizationsdevelopeffective,ratherthanjust„shiny‟,socialmediaideas?Inresponsetothe demandsofplanning and evaluating social media campaigns Leo Ryan developed a framework for managing this. KUDOSistheacronymthatrepresentsknowledgeable,useful,desirable,open,and sharable. LonSafkoandDavidBrake(2009)describethe(ACCESS)modelintheirbookTheSocial MediaBible–tactics,strategiesandtoolsforbusinesssuccess.The modelcanbedescribedasa guidelineforsetting upandimplementingaSocialMediaStrategy.ThemnemonicACCESS 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo standsforAudience,Concept,Competition,Execution,SocialMediaand SalesViability.OASIS framework isalsoone more interesting,whichstandsfor defineyourobjectives,knowyour audience,developastrategy,plan the implementationandthinkaboutsustainment(Patrick Mason,2008). Indiscussionsaboutnewmedia, you willoftenhear thedivisionofmedia opportunitiesasPaid, Owned,andEarnedmedia (P.O.E.M.).Brian Solis(2011)studiedthe various categorizationofmediafromafew perspectives,1)thatof traditionalcontentcreation, owners, budgets,andmetrics,2) how socialnetworks cater toconsumptionandsharing,3) how progressivebusinessesareapproaching contentstrategiesinsocialmediaandhowthey're rethinking departments,intentions,metricsandbudgets,and4)alsohowmediaopportunitiesare packagedandsoldby eachnetworkandwho'sbuyingthemandwhy.Hefoundthatmediaisnot limitedintothreegroups,butinstedcategorizedintofivekey segments:Paid,Promoted,Owned, Shared and Earned. Forthisstudy,the frameworkforexploring firm‟sacceptanceofthesocialmediaistheAdoption Process.Itisoftenassumedthattheconsumerorinthiscasefirmororganizationmoves through fivestagesinarriving atadecisiontopurchaseorrejectaproposal. Thosefivestagesare awareness,interest,evaluation,trialandadoption(or rejection). Researcherreviewedall frameworksandbenefitfromthem.Yet,heused5differentvariableswhichcouldpossiblygive a finalstepanswerfornortheasternfirm‟susageofsocialmedia marketing.Variables are respectively BrandAwareness,BrandPositioning,CustomerSatisfaction,WebsiteTrafficand Youth Population. Research Method Researcherwillusesurveymethodtoexploreadoptionofsocialmediamarketing innortheastern BosniaandHerzegovina.Survey methodischosenbecauseofnovelty ofsocialmediamarketing infirms,inBosniaandHerzegovina.Purposeofthestudy istogetsomeinsightsaboutusageof socialmedia infirms,andtofind outemployeesbasic perceptionsaboutuse of socialmedia in this specificregion. Surveyisconsistedofthreeparts,1)identificationofthesocialmediauseinnortheasternBiH, 2) perceptions of the employees on the effect of social media (brand awareness, brand positioning,customer satisfaction,website trafficandyouthpopulation),3) demographicsand company specificquestions.Survey has18questions,10ofthemareopen-endedquestions,3of themare multiplechoicequestions,and5of themareclosedquestions,formeduponLikertscale withendpoints1-strongly disagreeto5-stronglyagree.Survey isdistributedpersonally by the researcher,totheemployeesoftheseveralfirmsinthenortheasternBiHregion.Survey is anonymous. Sample collected are206 correct answered surveys. Afterdataiscollected,itisenteredintotheSPSS(softwarepackageusedfor and analyzed. statisticalanalysis) GeneralFindings Thissectionwill provide statisticaloverviewinthetermsofusage ofsocialmedia,type of benefitsfromsocialmedia, perceptionsof theemployeesonthe socialmedia usage andthe demographicspartinpercentage.Thesurvey participantsatthebeginningareaskedtwological 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo questions,whethertheirfirmusesocialmedia,andwhethertheypersonally usesocialmedia. Fromthesample of 206employeesfromdifferentfirmsacrossnortheasternregionof Bosnia and Herzegovina, when they are asked: “Does your firm use social media?”, 64.1% of the participantsansweredpositiveand35.9%answerednegative.Andwhenthey areasked:“Doyou personally usesocialmedia?”,74.8%answeredpositivelyandjust25.2answeredwithnegative outcome. Whenthoseparticipantswithpositiveansweronthequestionwhethertheirfirmusesocial media,neededtoansweronthetwomorequestions:“Howlongdoesyourcompany usesocial media?”,45.5% answeredthattheirfirmusingsocialmediaforoneorlessthanoneyear.49.2% answeredthattheirfirmusing socialmediaabouttwoyears,andjust5.3%answeredthattheir firmusing socialmedia foraboutthreeyears. Secondquestionwas:“Approximately,howmuch hours doesemployeesspend usingsocialmediain oneweek?”, andthe participantsanswered by following ratio,36.4%answeredtheiremployeesusing05hourssocialmedia,49.2%answered theiremployeesusing 510hours,and14.4%answeredfor10-20hoursusageofsocialmediafor their employees. Oneofthemostimportantquestionofthesurvey forthoseemployeeswhosefirmusing social media was:“Didyourfirmhadbenefitsfromsocialmedia”,andtheratiowas,27.3%answered thattheir firmhadsignificantbenefitfromsocialmedia,67.4% answeredtheir firmhadbenefit andonly 5,3%answeredtheirfirmdidnothavebenefitfromsocialmedia.Resultsshowsthat employeesagreefirmscouldhavefurther benefit,butthey arequiteunsureaboutsignificant improvement in marketingbyhelp of social media. Goaloftheparttwoofthesurvey wastoidentify employee‟sperceptionsabout5variables mentionedbefore intheresearchmethodsection.“Usingsocialmedia throughsocialnetworks hassignificantly improvedbrandawareness”,60.7%participantsansweredtheyagreewiththe statement,14.6%answeredbystronglyagree,19.9%wasnotsureaboutitandonly4.9% disagreewiththestatement.“Useofsocialmediagivesanadvantageinpositioning brandon market over thecompetitors”, 27.2%participantsstronglyagree, 47.6% agreewith thestatement, 20.9%wasunsure,andonly 4.4%participantsdisagreewiththestatement.“Useofsocialmedia allowsfirmtolistencustomersmorefrequently”,49.0%participantsagreewiththestatement, just 3.9% have answered stronglyagree, 37.9% are unsure about the statement, and 9.2% participantsdisagree withthestatement.“Usingsocialmedia throughsocialnetworks,blogs, youtubeandother socialnetworksincreaseswebsite traffic”,47.6% participants agreewiththe statement,andjust4.4%oftheemployeesstrongly agreed,34.5%wasunsure,13,1%ofthe participantsdisagreeand0.5%didanswerasstrongly disagree.“Youthpopulationusingsocial mediathroughsocialnetworkscouldfreely talkabouttheirideas,withusingtheirpureyouth creativity andinthatway helpfirminachievingandapproachingnewideas”,50%ofthe participantsdidagreeaboutthestatement,just3.4%participantsstrongly agree,29.1%ofthe participantswere unsure aboutthe statement,and16.5% didanswerwithdisagree onthe statement, 1%of theparticipants answered stronglydisagree. Whenwetakeasummary fromparttwoofsurvey,ingeneralemployeesagreethatsocialmedia improve brandawarenessandbrandpositioningoverthecompetitors,butwhenitcomesto customersatisfaction,websitetrafficandyouthpopulationeffect,specificin-surveyquestion, employeeshavedifferentopinions. About50%agreeorstrongly agreeithasbenefitsonthese 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo threevariables,butagainthereislotofemployeesthatare social mediabased on thosethreevariables. notsureaboutefficientbenefitfrom Part threegives us demographicsandcompanyspecificquestions. 61.7% of theparticipants were male and38.3%were female employees.Whenitcomestoagestructure,themostcommon age groupwas26-33with32.5% of the employees,then 34-40with28.2%,then4150with14.6%, andthenrespectively50+with12.6%andyoungestagegroupoftheemployees1825had12.1%. Education part provide following results,Employeeswiththefinished High Schoolwas themostcommontoanswersurvey with56.3%,thenCollegegroupwith40.3%,andthen respectively Phd with 1.5%, Master and Elementary with 1% of the participants. Type of businesssectionhadfollowing results,themostsurveyedemployeesworkatthewholesalersor retailerswith38.3%,thenby thedescendingpercentagegoestourism15.5%,“Other”than6 businessofferedinthesurvey with17.0%,construction12.1%,catering8.3%,agriculture4.9% andhealthandsocialwork 3.9%.Andthelastquestionwasannualturnover of thefirm;results are following, 500.0001.000.000KM 38.3%, 100.000-500.000KM 34.5%, 13.1% 3.000.000+KM, 1.000.0003.000.000KM 12.1%and 0-100.000KM with 1.9%. Intheconclusionpartresearcherwillusetheresultsfromsurvey process. totestthe5stagesofadoption Conclusions The purpose of this studywas to identifyuse of social media and the perceptions of the employeesinthe firms of northeasternBiH regionon the effectof socialmedia. However, the sampleofthesurveyedemployeesisrathersmalltorepresenthugefactorinadoptionprocess, but it will provide someuseful insights forfurtherresearch. Depending ontheresultsfromsurvey,64.1%ofthefirmusessocialmediainonewayoranother andthe74.8%oftheemployeespersonallyusessocialmedia,whichrepresentsevery third participants use social media. First stageofadoption process,awareness represents whether firms are awareofthesocialmediaeffectonthemodernworld.Our resultsshowsthatfirmsare using socialmediaabout49.2%for10-20hoursaweekand36.4%for0-5hoursaweek.Adding to that,employeesperceivedsocialmediawhichrepresentshuge factorinidentifyingbrand awareness.Accordingtothoseresults,firsstageawarenessisobviously representedinthefirms of this certain region. Intereststageaccordingtotheresultsfromsurvey isincreasingandbecomingmoreadopted. Resultsshowthatthreeyearsagoonly 5.3%ofthefirmsusedsocialmedia,andthenextyear additional49.2% ofthefirmsstarted usingsocialmedia.Inthe lastyear,another45.5%added social mediato their firms as awayof marketing. Awarenessandintereststageprovideplatformforevaluationstagewhichcouldimmediately takeustotheendoftheprocess byrejection,dependingontheresults.Inthisstudy thatwasnot the case.Evaluationstage ismorecomplexthatthe firsttwodescribed.Whenparticipantsof the survey wereaskedwhethertheirfirmsbenefitfromsocialmedia,theanswerwasvery positive, and27.3%hadopinionthattheircompany benefitsignificantly,andother67.4%answeredtheir firmdidhavebenefit.Accordingtothoseresultsevaluationstageispositively relatedtothe 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo adoption process. Whenitcomestotrialstage,onceagainitneedstobeevaluatedbeforethefinalstageof adoption.According tothefindingsfromsurvey,mostofthefirmsaregettinginthetouchwith thesocialmediainthelasttwoyears.Sotheyareyettofullyadoptit.Wecanapprovethose 84.7%firmssurveyed,whichstartedusing socialmediathroughlasttwoyears,asatrialstageall long.Whenparticipantsareasked:“forwhatpurposesdoesyourfirmusessocialmedia”,the mostoftheanswerswereforpromoting firm.Thenthoughtsarecombinedincustomercare, networkingandcreatingcompany namebutinmuchlessratiothanisanswerforpromotingthe firm.Severalfirmsansweredtheirpurposesforuseofsocialmediaisemploying theworkers. Summingupthefindings,firmsthathavesignificantbenefitfromsocialmediaaccording toall variablescontainedinthesurvey couldadoptsocialmediamarketingasanimprovedway of marketing. Employeesarevery satisfiedwiththebenefitsocialmediaapprovedtotheirfirms,atleastthose whichfirmsareusingsocialmedia.Whenthey areasked:“inwhichway firmhadthemost benefit”,employeeswerevery commonaboutonething,customersarecommunicatingwiththe firmmorefrequentlyandeasier.They werealsopositiveaboutreducingthecost,andimproving overallproductivitywith minimumrequirements. Tosumup,employeesarevery contentwiththesocialmedia effectontheirfirms.According to the findingsonthe brandawarenessandbrandpositioning,mostof the employeesagree social mediahaspositiveeffectonthosevariables.Findingsoncustomersatisfaction,websitetraffic andyouthpopulationeffectare lesspositive,butyetenoughpositive,toapproveadoptionofthe social mediamarketingto the firms. Allstagesarepositivelyrelatedtotheuseofsocialmediamarketing,butyetbecauseofnovelty ofthestudy inthisregion,thesefindingsprovideusefulinsightsforfutureresearch.Model presentedinthestudywillbefurtherdevelopedandimprovedinthefuturestudywhichwill applymorethan oneresearch techniques for moreimportant results. References Brogan,C.(2010).Aboveallelse–People.TacticsandTipstoDevelopYourBusinessOnline,1, 12. Tuten, T.L.(2008). Socialcentricityand theEmergenceof Marketing.SocialMedia Marketing in aWeb 2.0World, 2,20-21. Social-Media Evans, D. &McKee, J. (2010), TheNew Role: SocialInteractions. SocialMedia Marketing,2,30-31. Kirtiş, A.K. &Karahan,F.K. (2011).To beornottobein Social Media Arena as theMost CostEfficient MarketingStrategyafter the Global Rrecession. Procedia Socialand Behavioral Sciences 24, 260–268. 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Husejnefendic, Š. H. & Mehmedovic, M.M. (2011). Social Media and MarketingApplication in South-Eastern Bosniaand Herzegovina RegionThePractical Useof Social MediabyNew- portals in South-EasternBosnia and HerzegovinaRegion. Acta Universitatis Sapientiae, Social Analysis, 1, 2, 177– 193. Bell, J.H. (2009). Time for Brands to Adopt aComprehensive Social MediaStrategy. OgilvyPublicRelationsWorldwide, 3-16. Bernoff, J.B. (2007). The POST Method: A systematic approach to socialstrategy.Groundswell: Winning in aWorld Transformed bySocial Technologies. Safko,L.S.&Brake, D.B. (2009).ACCESSModel.TheSocialMedia Bible – tactics, strategies and tools forbusiness success. Mason, P. (2008, May22). Social Marketing– AnEngagement Framework.Socialmedia404. Retrieved April23, 2013, fromhttp://www.socialmedia404. com/?p=100. Solis, B. (2011).Looking Beyond Paid, Earned, Owned Media: TheBrandsphere Infographic. BrianSolis. Retrieved April23, 2013, fromhttp://www.briansolis.com/2011/08/new- inforgraphic-the-brandsphere-bybrian-solis-and-jess3/. AppendixA – Survey Questions Perceptions ofthe Employees onthe Social Media Effect in the FirminNortheasternBiH FirstPart: 1. Does yourfirmusesocialmedia? -Yes -No 2. Do you personally usesocialmedia? -Yes -No 3. Which types ofsocialmedia does yourfirmuse? -Facebook -Twitter -Linkedin -Youtube -Skype -Google+ Other 4. Howlong does your company usesocialmedia?(numbersrepresents years) -1 2 3 4 5+ 5. Approximately, howmuch hours does employees spend using socialmedia? 0-5 5-10 10-20 20-30 30+ 6. Forwhat purposes does yourfirmuses socialmedia? -Promotingfirm -Creatingfirm name -Networking 7 -Employment -Customer care �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo -Other 7. Didyourfirmhavebenefits fromsocialmedia? -It had significant benefit -It had benefit -Didn‟t havebenefit -It hadnegative effect 8. Inwhat way didfirmhadthe mostbenefits? -Customers easilycommunicate with the firm -Improved overallproductivity -Reducedcosts -Increasewebsitetraffic -Improved reputation ofthe firm SecondPart 9. Using socialmedia throughsocial networkshassignificantly improvedbrand awareness ofthe firm -Stronglydisagree -Disagree -Not sure -Agree -Stronglyagree 10. Useofsocialmedia gives anadvantagein positioning brandonthe markeroverthe competitors -Stronglydisagree -Disagree -Not sure -Agree -Stronglyagree 11. Useofsocialmedia allowsfirms to listencustomersmorefrequently -Stronglydisagree -Disagree -Not sure -Agree -Stronglyagree 12. Using socialmedia throughsocial networks,blogs, youtubeincreases websitetraffic -Stronglydisagree -Disagree -Not sure -Agree -Stronglyagree 13. Youth population usingsocialmedia throughsocial networks, couldfreely talk about their ideas with their pureyouth creativity andinthatway helpfirmin achieving ideas -Stronglydisagree -Disagree -Not sure -Agree -Stronglyagree Third Part 14. Gender -Male -Female 15. Age 18-25 26-33 34-40 41-50 50+ 16. Education -Elementary -High School -College -Master -Phd 17. TypeofBusiness -Wholesalers and retailers -Construction -Agriculture -Catering -Tourism - Heal and social work -Other 18. Annual turnoverofthefirm 0-100.000KM 100.000-500.000KM 3.000.000+KM 500.000-1.000.000KM 1.000.000-3.000.000KM 8 � 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. 1484 Title A name given to the resource Modeling and Adoption of Social Media Marketing in Small and Medium Firms in North-Eastern Bosnia and Herzegovina Author Author ČOČIĆ, Amir DUMAN, Teoman Abstract A summary of the resource. The purpose of this study is to research whether the market in Bosnia, with the focus on north-eastern Bosnia and Herzegovina region poses enough capacity, and whether social media marketing could be adopted as an efficient way of advertising and promoting goods. It is obvious that Bosnia and Herzegovina is one of the poorest country in Europe, and firms in country believes in traditional marketing. There is small precentage of firms, that is raising by year, that are trying to develop an efficient way of promoting their goods by social networks, and small percentage that are getting in touch with social media marketing for the first time in any possible way. Researcher chooses survey method to be the main research tool. Model which will be used for adoption will be consisted of 5 stages: awareness, interest, evaluation, trial, and adoption (or rejection). Researcher found that brand awareness, website traffic, customer satisfaction, positioning a brand, and youth population, as a variable for research, all play roles in the adoption process of social media. At the end through theoretical framework and results gained, study will help to identify which organization will or can adopt social media marketing as an improved way of their company. Keywords: Bosnia and Herzegovina, Social Media, Adoption, Model, Company 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/f654163988d13bbf1e554ce779a83f6b.pdf acb0fc7a3e1de3ac52629e1cf30fe658 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The importance of Balanced Scorecard in business operations Maida Djakovac Novi Pazar, Serbia maidadj86@yahoo.com The aim of this paper is that to explore the role and importance of applying strategic management tools known as Balanced Scorecard in a comprehensive, concise and understandable way. The subject of the research is the elaboratation of the basic assumptions of Balanced Scorecard model in its essential elements and display the possibilities of its application, as well as showing the importance of methodology of Balanced Scorecard to translate company’s strategy into initiatives, measures and effects. With clear indicators and measures it is possible to develope and improve the organization. The tasks and standards observe the results of the organization through four perspectives: finances, customer, internal business processes and learning and development. These four perspectives provide a framework for the Balanced Scorecard. The aim of the implementation of Balanced Scorecard is to significantly improve the business. BSC model combines financial and nonfinancial measures into a single system to provide managers with sufficient and relevant information about the activities they manage. The usage of BSC method should start with a clear idea of its long-term application and with the aim of the process to learn as much as possible about how the organization should work in order to satisfy customers, stakeholders and employees. Balanced Scorecard is extensively used in the business sector, governmental and nongovernmental organizations around the world, to synchronize operations with the vision and strategy of the company, to improve internal and external communication and monitoring of organizational performance in relation to its strategic goals. Benefits of the Balanced Scorecard include increased financial returns, greater coordination of activities with the goals of employees, improved cooperation and continued focus on strategy. Balanced Scorecard is a set of instruments that provides simple and concise overview of the company and provides answers to questions where it is and where it should go. Keywords: Perspectives of BSC, the Strategic Map, Performance Measure, Implementation of BSC. 194 � https://omeka.ibu.edu.ba/files/original/85dcbd2f0b4f21378d08fd06854647b6.docx ae344463651a73bfa5662883eaf74faf https://omeka.ibu.edu.ba/files/original/04c312ab3eecea547be7c7dd3a234144.pdf 4ddecdaa7306d05aa07d9d0cd87f413c PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The importance of Balanced Scorecard in business operations Maida Djakovac Novi Pazar, Serbia maidadj86@yahoo.com Abstract The aim of this paper is that to explore the role and importance of applying strategic management tools known as Balanced Scorecard in a comprehensive, concise and understandable way. The subject of the research is the elaboration of the basic assumptions of Balanced Scorecard model in its essential elements and displays the possibilities of its application, as well as showing the importance of methodology of Balanced Scorecard to translate company’s strategy into initiatives, measures and effects.With clear indicators and measures it is possible to develop and improve the organization. The tasks and standards observe the results of the organization through four perspectives: finances, customer, internal business processes and learning and development. These four perspectives provide a framework for the Balanced Scorecard. The aim of the implementation of Balanced Scorecard is to significantly improve the business. BSC model combines financial and nonfinancial measures into a single system to provide managers with sufficient and relevant information about the activities they manage. The usage of BSC method should start with a clear idea of its long-term application and with the aim of the process to learn as much as possible about how the organization should work in order to satisfy customers, stakeholders and employees. Balanced Scorecard is extensively used in the business sector, governmental and nongovernmental organizations around the world, to synchronize operations with the vision and strategy of the company, to improve internal and external communication and monitoring of organizational performance in relation to its strategic goals. Benefits of the Balanced Scorecard include increased financial returns, greater coordination of activities with the goals of employees, improved cooperation and continued focus on strategy. Balanced Scorecard is a set of instruments that provides simple and concise overview of the company and provides answers to questions where it is and where it should go. Key words: perspectives of BSC, the strategic map, performance measure, implementation of BSC Introduction Business strategy, to which every company that wants growth has to pay deserved attention comes from the vision and mission of the company and must be clearly defined, with the goals and tasks that are recognizable and conductible. For the successful implementation of the strategy objectives must be measurable. 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In today’s environment it is proved that it’s not enough to rely only on the purely financial indicators. Modern business has set the task for managers to monitor and measure not only financial, but also other indicators of value and success of an organization. In modern companies big part of the market value is consisted of intangible value and intellectual capital (people, brand, processes ...), which create the need for developing measurement systems that will identify and assess other indicators of the value of companies such as relationships with customers, business performance process, the ability to develop and so on. Starting from the vision, mission and strategy Balanced Scorecard has developed as a tool which taking into account the value of the company exceeds the main problems of the organization: a successful measurement of company’s performance. This paper aim to show the introduction of Balanced Scorecard and the implementation of appropriate management of related processes can bring good results, mainly through increasing the quality of the strategic management process. Balanced scorecard provides a concise overview of the company and answers questions where it is and where to go. The main feature of this method is that it is rational and profitable because it is focused on the optimal number of key characteristics which choice is the result of the vision and strategy. Clear benefits that companies realize with the application of the Balanced Scorecard are improved strategic planning, improved communication strategies and execution, better information of the management, improved reporting of performance, better compliance of the strategy and better coordination of the organization. It is expected that changes in the way of observing the different segments of the business through Balanced Scorecard significantly affect the quality of the organization’s business and thus contribute to the business, primarily the company’s development and rapid achievement of strategic objectives and vision of the company. Starting hypotheses are:    Balanced Scorecard is a modern multi-dimensional method of measuring the performance of companies in modern market conditions, which can significantly improve the operations of companies that are applying it. One of the reasons of failure or poor results of the company is certainly insufficient management attention on strategic issues. With the appliance of the Balanced Scorecard method the quality of strategic management process is increased and the conditions for the growth of the company are created. The very presence of the company’s strategy is not enough. Even the best strategy will have no value if it isn’t applied. Balanced Scorecard application method significantly improves the performance of companies in implementing strategy. The intention of this work is to review the basic parts of the model. Basis of Balanced Scorecard Managers must determine how the company will compete with its competitors in order to realize the benefits that can be sustained for an extended period of time.1 The main role of 1 Dess G., Lumpkin G.T., Eisner A., Strаtegijski menаdžment, 2007, str. 10 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo managers is to manage the processes: planning, organizing, managing and controlling. The implementation of each of these processes, managers is constantly faced with different problems that need to be solved. Modern managers, in order to effectively manage any process, necessarily have to rule management tools and methods and techniques. Organizations in today's highly competitive environment, full of changes, have to devote considerable time, energy and human and financial resources, measuring performance in achieving its strategic goals. Financial performance measures which correspond to the business activities were based on tangible assets, but they are not adjusted for the value creation mechanisms of modern business organizations. Intangible assets like knowledge of employees, customer and vendor relationships, and innovative culture are the key to the production values in a modern economy. Nevertheless, the role of different strategies is now more important than ever. Effective implementation of the strategy is very important in today's era of globalization, the power of clients and rapid change. The disturbing fact is that about 9 out of 10 organizations fail to implement its strategy.2 Because of the different views on the development of performance measurement and evaluation of business operations, several different methods of measuring business performance have developed. Nowadays the most used method is the Balanced Scorecard, which tracks the optimal number of key features whose appointment was derived from vision and strategy for the company. Financial measures are inadequate for predicting and evaluating the path which information age companies must go through in order to create future value through investment in customers, employees, processes, technology and innovation. Balanced Scorecard complements financial measures based in the past with the scale drivers of future performance. Balanced Scorecard is a relatively new concept. It was introduced for the first time in 1990 by Kaplan and Norton. Kaplan and Norton talk about the organization that is completely devoted to implementing the strategy. Balanced Scorecard is a set of instruments that provides simple and concise overview of the company and provides answers to questions where it is and where it should go. The methodology of Balanced Scorecard turns the company's strategy into initiatives, measures and effects. Benefits of the Balanced Scorecard include increased financial returns, greater coordination of activities with the goals of employees, improved cooperation and continued focus on strategy. It represents a carefully selected set of benchmarks derived from the strategy of an organization that can be quantified.3The selected criteria may be used to help employees and external stakeholders in presenting the results and performance drivers by which organizations are trying to achieve its mission and strategic goals.Balanced Scorecard provides for the vision and strategy to be turned into a system of specific goals and measures, whose implementation is systematically monitored and measured. It also allows for all business functions to subordinate their actions to the realization of the unified vision and strategy. 2 Niven P.R., Balanced Scorecard – Korak po korak, 2007, str. 12 Niven P.R., Balanced Scorecard – Korak po korak, 2007, str. 33 3 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Balanced Scorecard helps organizations to cope with three major issues: a successful organizational performance measurement, monitoring and exploitation of an intangible assets and challenges of strategy implementation. Approximately 75% of the value created in the organization is made of intangible assets. The ability of the company to mobilize and exploit its intangible or invisible trumps becomes more important than investing and managing physical, tangible assets. Balanced Scorecard emphasizes that financial and nonfinancial measures must be part of an information system for employees at all levels of the organization. Innovative companies are using Balanced Scorecard as a strategic management system to manage its strategy in the long run. To support simplicity and usefulness of the measurement, the number of measures in the Balanced Scorecard is limited, and all criteria were classified into four groups. In fact, one of the key activities is just selection, filtering and grouping criteria (the companies already have much more standards than is required to put in the Balanced Scorecard feature). Balanced Scorecard model suggests the implementation of the vision and strategy in four key performance prospects of success: A. financial perspective - provides information on the overall financial operations and position of the company; B. customer perspective - means measuring market performance, delivered value and user's satisfaction; C. internal business process perspective - measures the performance of different processes and activities that focus on delivering value to target users; D. perspectives of learning and development - refers to the infrastructure that the company must build in order to ensure long-term growth and improvement. Balanced Scorecard is a tool for change. Building a successful team, creating support and enthusiasm for the initiative changes, efficient collection and exchange of information and training, are just some of the exciting and challenging tasks to be faced. Balanced Scorecard model is developed for a specific purpose in accordance with the set concept. Developing elements of a Balanced Scorecard should first determine the basic values, mission, vision and strategy of the organization, because the indicators measuring the four perspectives of achievement choose exactly the purpose of their achievements. Balanced Scorecard provides executives comprehensive framework that translates a company's vision and strategy into a coherent set of criteria found. The fact about which most authors agree is that the execution or implementation of the strategy is much more important than strategy formulation. In support of this claim is the study of 'Fortune' in 1999. which found that 70% of top managers failures is not the result of bad strategy, but of not being able to implement it.4 In order for the organization to succeed in today’s business, the strategy must be ‘’revived’’ with great clarity, so that everybody in the organization can understand it and act in accordance with it on a daily basis. 4 Niven P.R., Balanced Scorecard – Korak po korak, 2007, str. 29 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Using the Balanced Scorecard, organizations have an excellent chance of winning the difficulties in successfully implementing its strategy in its constituent parts through the four perspectives. Balanced Scorecard is the ideal generated by a common understanding and implementation of strategies for the purposes of the organization, standards, goals and initiatives in each of the four perspectives. Using the Balanced Scorecard as a framework for the implementation of the strategy, these organizations are creating a new language of measurement that serves as a guide for all staff activities aimed at achieving this objective. A key attribute of formulating strategy is to perform a set of activities that is different from those performed by their competitors. These activities must reflect the Balanced Scorecard which must go along with the strategy. By dividing the strategy into its elements, through goals and measures in each perspective, Balanced Scorecard gives the organizations the opportunity to move along from 'deciding' to 'enforce' the strategy. Balanced Scorecard makes it possible to define the cause-effect relationships within a single strategy. In defining the strategic hypothesis, the initial step is the perspective of owners and consumers. The basic question is "Who are financial targets in terms of revenue growth and increased productivity? What are the main sources of growth?". Once the objectives of the financial perspective are defined, the next question would be "Who are the target consumers that will ensure revenue growth and profitable mix of products and services? What are our objectives in this perspective and how to measure success in achieving them?". Consumer perspectives include the definition of "value proposition" (value proposition). Value proposition defines the way in which the company will differentiate itself in terms of unique products mix, prices, services, customer relations and image to attract and retain target customers and deepen relationships with them. Financial and consumer objectives are desired outcomes, but they do not specify the ways in which they are reached. The prospect of internal processes, which for example, include product design, brand and market development, sales, service, production and logistics - defines the activity that is needed to create the desired value proposition and differentiation and consequently desired financial outcomes. The fourth perspective, the perspective of learning and development reveals capabilities and conditions which are necessary to conduct internal business processes. This refers to the organizational infrastructure, skills, abilities and knowledge of employees, technology used by them, and the climate in which they work. Perspectives of Balanced Scorecard Classic Balanced Scorecard consists of four perspectives through which we observe the strategies: financial perspective, customer perspective, internal process perspective and the perspective of learning and development. The financial perspective is about how to appear before the shareholders, clients and prospects, how to perform in front of customers if we want financial success. Internal business perspective answers the question which venture should we go beyond in order to satisfy shareholders and customers. The prospect of learning and development shows how much are we willing to change and improve if we are to achieve our vision. Practice has shown that the Balanced Scorecard can be used for different purposes, and can be greatly modified. The architecture of the Balanced Scorecard has four perspectives which are not necessarily supported, but the logic of strategic mapping must be maintained. Balanced Scorecard implements the vision and strategy of the tasks and measures across a balanced combination of perspectives and viewpoints. Balanced Scorecard includes 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo measures of desirable achievements and processes which will encourage that kind of achievements in the future. Financial perspective Creating value for the owners is the outcome that any strategy of the company should achieve. The financial perspective is essentially the most important aspect of business, because achieving profit is the goal of each company. The other three perspectives are the only support weapon that is used to achieve the main goal. The criterion of financial performances is shown by the contributions or the company's strategy and its implementation to the greater financial profit. The financial perspective shows us how we dispose of the money invested in the company.Financial performance indicators are related to profits and operations incomes. Balanced Scorecard should tell the story of the strategy, starting with long-term financial objectives, and then connecting them with a series of activities to be undertaken in respect of financial processes, customers, internal processes, as well as staff and systems to achieve long-term economic benefits. For most organizations financial topics such as increasing revenue, improving productivity and cost images, improved use of assets and risk reduction may be associated with all perspectives of the Balanced Scorecard. Financial objectives and measures must play a dual role: they should define the expected financial performance and strategy should serve as the ultimate goal for the tasks and standards of all other perspectives. The goals and measures in this perspective tell us that the implementation of our strategy leads to improved financial results. Perspective of customer When choosing measures for customer perspective in the Balanced Scorecard, organizations must answer three key questions: ‘Who are our target customers?’, ‘What is our added value for them when they provide services?’ and ‘What our clients expect and demand from us?’. In the customer perspective, managers identify the customer and market segments for which the business unit is about to fight. Key measures of the achievement include: customer’s satisfaction, customer’s retention, new customer’s acquisition, customer’s profitability and market share of the budget and target segments. Key drivers of client achievements, which are linked each to their own segment, present facts that are critical to customers in the decision whether to change the supplier or remain loyal to him. The customer perspective allows the managers of the business unit to articulate the customer’s and market’s strategy that will lead to future financial returns. Eg. clients can appreciate the short intervals of production and timely delivery, innovative products and services, can appreciate a supplier that is able to anticipate their emerging needs and being able to develop new products and methods of access that correspond to these needs. In order for the finance indicators to be successful, it is important that product or service is well received by the client. By analyzing the indicators, we can conclude that the quality is the strategic objective on the market. Besides quality, many things have an essential role in influencing customers such as delivery time, meeting deadlines or product prices. Good 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo knowledge of the customer perspective and skills to recognize market needs allow managers to properly choose a strategy that will bring good financial results. Perspective of internal business process The internal process perspective of the Balanced Scorecard identifies the key processes in which the company must be excellent in order to continue to add value for customers and for shareholders. Each of the disciplines for clients will withdraw with itself the effective functioning of specific internal processes in order to serve customers and meet the additional value for them. The task is to identify these processes and develop the best possible goals andmeasures that track progress. This perspective can include product development, production, delivery and after sales service. Indicators of internal business processes are focused on internal processes, whose effect has the greatest impact on customer’s satisfaction and achievement of the financial goals. This perspective answers the question of how to place the individual business processes, as we point to those responsible for that part and what kind of improvements in this direction should be undertaken (improving service or performance). Through this perspective managers identify the key internal processes in which the organization must be excellent. The perspective of learning and development of employees The goals and measures in this perspective are the drivers of the other three perspectives. They are the basis on which the Balanced Scorecard is constructed. In this perspective there is a place for the skills of employees, their satisfaction, availability of information and coordination, together with the specific drivers of these original criteria, such as detailed, specific indices of specific skills needed for the new competitive environment. Measures that are determined in this perspective run all the other criteria. The prospect of learning and development recognizes the infrastructure which the organization must build in order to create conditions for long-term growth and improvement. Such skills and attitudes must be continuously developed, strengthened and reinforced,. Each employee must be motivated and focused on the goals and objectives of the organization. In the modern organization the balance of power has changed due to the importance that a well-trained worker and people with knowledge (knowledge worker Eng.) have for the organization. Knowledge workers consider their professional development and advancement and personal enrichment (financial and any other kind) more important than loyalty to the company. Poor efficiency of selected employee impairs the development and preservation of human capital. Cascading of the Balanced Scorecard overcomes the obstacles with people Cascading of the Balanced Scorecard means its implementation at all levels of the organization, as well as providing opportunities for all employees to demonstrate how their activities contribute to the strategy of the company. 5 Cascading creates a line of employees at the facility all up to the level of board members. Instead of incentives and rewards associated with achieving short-term financial goals, managers now have the opportunity to directly link the rewards of their team or business unit, with areas that have an impact. 5 Niven P.R., Balanced Scorecard – Korak po korak, 2007, str. 42 7 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo All employees can be involved in the process of Balanced Scorecard. For the cascading process to proceed successfully, each company must understand the operational and strategic importance of goals and measures that appear on the scorecard of the highest level. Strategic map Strategic map are communication tool used to tell a story of how value is created for the organization. They show a logical, step-by-step connection between strategic objectives (shown as ovals on the map) in the form of a cause-and-effect chain. A properly designed Balanced Scorecard should describe the objectives of the strategy that are on the strategic map and the measures that were chosen for them. The strategic map is a clear graphical representation of what we do well in each of the perspectives in order to implement the strategy. If there is any problem in achieving a goal, strategy map will indicate it and so act as a warning system for the organization's strategy. The first question that must be taken into account when making strategic map is whether the four perspectives are correct for the organization. Perspectives selection at the end should be based on what it takes to tell the story of your strategy and create competitive advantage for your organization. The strategic map answers the question: ‘What should we do well in order to implement the strategy?’ Conclusion Studies have shown that the Balanced Scorecard, compared to many other methods, is aimed at the immediate results of the user, and in addition, is easily linked to other tools for measuring performance that are used in enterprises. Balanced Scorecard provides strong and clear arguments in favor of the importance of intangible assets, enabling organizations to fully exploit their potential. This method is extensively used in the business sector, governmental and nongovernmental organizations around the world, to synchronize operations with the vision and strategy of the company, to improve internal and external communication and monitoring of organizational performance in relation to its strategic goals. Effective implementation of the Balanced Scorecard helps an organization in many ways, bringing with its application:  Increased focus on strategy and results instead of tasks;  Improved communication among business units;  Understanding and responding to customer’s needs;  Improvement of organizational efficiency by measuring what matters;  Helps leaders to make better decisions based on leading indicators, not based on outdate financial data ;  Indicates leaders and staff to priority work tasks from day to day. Creation of a strategy map is also very important, one might say, critical, selection of key stakeholders that contribute to the success of organizations, which need to include a map. The strategic map is a display of what must be done well in each of the prospects for its effective implementation. 8 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo References Dess G., Lumpkin G.T., Eisner A., (2007), Strаtegijski menаdžment, Dаtа stаtus, Beogrаd Kаplаn R., Norton D., (2010), Urаvnoteženа tаblicа rezultаtа, Mаte, Zаgreb Kaplan R., Norton D., (1996), "The Balanced Scorecard – Translating strategy action", Boston into Kaplan R., Norton D., (2001), The Strategy Focused Organization, Harvard Business School Press, Boston Niven P., (2003), Balanced Scorecard Step-by-Step for Government and Nonprofit Agencies, John Wiley & Sons, Hoboken, NJ Niven P., (2007), BаlаncedScorecаrd - Korаk po korаk, Mаsmediа, Zаgreb www.bаlаncedscorecаrd.org 9 � 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. 1657 Title A name given to the resource The importance of Balanced Scorecard in business operations Author Author Đakovac, Maida Abstract A summary of the resource. The aim of this paper is that to explore the role and importance of applying strategic management tools known as Balanced Scorecard in a comprehensive, concise and understandable way. The subject of the research is the elaboratation of the basic assumptions of Balanced Scorecard model in its essential elements and display the possibilities of its application, as well as showing the importance of methodology of Balanced Scorecard to translate company’s strategy into initiatives, measures and effects. With clear indicators and measures it is possible to develope and improve the organization. The tasks and standards observe the results of the organization through four perspectives: finances, customer, internal business processes and learning and development. These four perspectives provide a framework for the Balanced Scorecard. The aim of the implementation of Balanced Scorecard is to significantly improve the business. BSC model combines financial and nonfinancial measures into a single system to provide managers with sufficient and relevant information about the activities they manage. The usage of BSC method should start with a clear idea of its long-term application and with the aim of the process to learn as much as possible about how the organization should work in order to satisfy customers, stakeholders and employees. Balanced Scorecard is extensively used in the business sector, governmental and nongovernmental organizations around the world, to synchronize operations with the vision and strategy of the company, to improve internal and external communication and monitoring of organizational performance in relation to its strategic goals. Benefits of the Balanced Scorecard include increased financial returns, greater coordination of activities with the goals of employees, improved cooperation and continued focus on strategy. Balanced Scorecard is a set of instruments that provides simple and concise overview of the company and provides answers to questions where it is and where it should go. Keywords: Perspectives of BSC, the Strategic Map, Performance Measure, Implementation of BSC. 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/142f8547b8747dffdbb65857ae99c75f.pdf 4d5d87a9b7b8c521f6b51f4149be20e8 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Stairways to hell (Historical interventionism as a truly roots of current global economic crisis) Djogo Marko University of East Sarajevo markodjogo@yahoo.com marko.djogo@ekofis.org Tamara Starovlah-Djogo University of East Sarajevo Economic crisis in Euro- Atlantic economy came in its fifth year although governments of developed countries have taken all measures that they were using more or less successfully in last 60 years. While governments keep looking for more drastically measures to end the crisis, we believe that the time has come for analyzing this situation from another angle. That angle is integral historical analyses of actual roots of this crisis instead of shallow partial analysis that take place these days. Keywords: economic crisis, state intervention, free market JEL classification: E02, E58, E6 87 � 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. 1551 Title A name given to the resource Stairways to hell (Historical interventionism as a truly roots of current global economic crisis) Author Author Đogo, Marko STAROVLAH-ĐOGO, Tamara Abstract A summary of the resource. Economic crisis in Euro- Atlantic economy came in its fifth year although governments of developed countries have taken all measures that they were using more or less successfully in last 60 years. While governments keep looking for more drastically measures to end the crisis, we believe that the time has come for analyzing this situation from another angle. That angle is integral historical analyses of actual roots of this crisis instead of shallow partial analysis that take place these days. Keywords: economic crisis, state intervention, free market JEL classification: E02, E58, E6 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/67f10ea1851daf433d868f1f0bc180b5.pdf 2602618cfe3f1354fa4b70fa1e072aa4 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Consumers` Perception of Corporate Social Responsibility in Contemporary World – a Review Danijela Šarčevid Institute of Meat Hygiene and Technology, Belgrade, Serbia danijelas@inmesbgd.com Sanel Jakupovid Univerzitet Apeiron, Banja Luka, Bosnia and Herzegovina sanel.j@apeiron-uni.eu Corporate social responsibility (CSR) increasingly receives attention from managers and researchers, especially in the area of consumer perception and response of CSR. Most of this research was conducted in the context of developed countries. It shows that research on consumer perception towards CSR in developing countries needs to be developed. In latest research, literatures result shows some interesting findings. When consumers have to buy similar products with the same price and quality, CSR could be the determining factor. They would buy from the firm that has a socially responsible reputation. Also, a company′s CSR position leads to consumer identification with company, which in turn leads to better company evaluations. A common problem of most studies researching the link between CSR and consumer behavior is assumed or artificially inducted awareness CSR. Consumers generally have a low level of awareness about what corporate social responsibility is. Nonetheless, when consumers are made aware of what CSR is, it appears that CSR does lead to positive attitudes and stronger behavioral intentions toward buying products from socially responsible company. The positive link between CSR and consumers patronage makes managers realize that corporative social responsibility is not only an ethical/ideological imperative, but also an economic one in today′s contemporary global market place. More companies are willing to increase their CSR investment and integrate it into the long term strategies plan to maintain or even enhance long term market performance. The purpose of this paper is to consider and analyze the profle of modern consumer (careful to consequences of its purchasing decision in terms of social, ethical and environmental aspects), in order to identify the role of CSR for consumer through a study on critical, ethical and responsible purchase. Through wide literature review, paper shows consumers`perception of CSR in contemporary world. Keywords: Corporate Social Responsibility, Consumers Perception, Contemporary Global Market Place. 85 � 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. 1511 Title A name given to the resource Consumers` Perception of Corporate Social Responsibility in Contemporary World – a Review Author Author ŠARČEVIĆ, Danijela JAKUPOVIĆ, Sanel Abstract A summary of the resource. Corporate social responsibility (CSR) increasingly receives attention from managers and researchers, especially in the area of consumer perception and response of CSR. Most of this research was conducted in the context of developed countries. It shows that research on consumer perception towards CSR in developing countries needs to be developed. In latest research, literatures result shows some interesting findings. When consumers have to buy similar products with the same price and quality, CSR could be the determining factor. They would buy from the firm that has a socially responsible reputation. Also, a company′s CSR position leads to consumer identification with company, which in turn leads to better company evaluations. A common problem of most studies researching the link between CSR and consumer behavior is assumed or artificially inducted awareness CSR. Consumers generally have a low level of awareness about what corporate social responsibility is. Nonetheless, when consumers are made aware of what CSR is, it appears that CSR does lead to positive attitudes and stronger behavioral intentions toward buying products from socially responsible company. The positive link between CSR and consumers patronage makes managers realize that corporative social responsibility is not only an ethical/ideological imperative, but also an economic one in today′s contemporary global market place. More companies are willing to increase their CSR investment and integrate it into the long term strategies plan to maintain or even enhance long term market performance. The purpose of this paper is to consider and analyze the profle of modern consumer (careful to consequences of its purchasing decision in terms of social, ethical and environmental aspects), in order to identify the role of CSR for consumer through a study on critical, ethical and responsible purchase. Through wide literature review, paper shows consumers`perception of CSR in contemporary world. Keywords: Corporate Social Responsibility, Consumers Perception, Contemporary Global Market Place. 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/33f3f85dacddf64d9b87d159c7778168.pdf 1be22daedac99593903646ef872c4d8d PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Innovativeness and Competitiveness of Bosnian Production Firms Edin Šišid International Burch University, Sarajevo, Bosnia and Herzegovina edo_sile@hotmail.com M. Kürşad Özlen International Burch University, Sarajevo, Bosnia and Herzegovina kozlen@ibu.edu.ba In today's world, both innovations and innovativeness are two of the most important issues to be considered for globally competing firms. Innovation is the application of new and improved ideas. However, innovativeness is the ability to produce new and improved ideas/products/services. In this research paper, the authors propose a research model about the level of innovations/innovativeness in Bosnian firms by considering the relevant literature. The limitations of the model are discussed. The implications of the model for practice and research are addressed and the paper is concluded. Keywords: Bosnia and Herzegovina (B&H), Innovation Innovativeness, Model Proposal. 89 Adoption, � 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. 1537 Title A name given to the resource Innovativeness and Competitiveness of Bosnian Production Firms Author Author ŠIŠIĆ, Edin ÖZLEN, M. Kürşad Abstract A summary of the resource. In today's world, both innovations and innovativeness are two of the most important issues to be considered for globally competing firms. Innovation is the application of new and improved ideas. However, innovativeness is the ability to produce new and improved ideas/products/services. In this research paper, the authors propose a research model about the level of innovations/innovativeness in Bosnian firms by considering the relevant literature. The limitations of the model are discussed. The implications of the model for practice and research are addressed and the paper is concluded. Keywords: Bosnia and Herzegovina (B&H), Innovation Adoption, Innovativeness, Model Proposal. 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/85b851cb26adeac9433f004157dff969.pdf 7be3dbc5ed74f69800516a3348daec82 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Efficiency of Investment in Education and Teacher Training and Professional Development Melida Župljanin International University in Novi Pazar, Novi Pazar, Serbia meli_haki@hotmail.com The efficiency of education funding defines the possibility for the high achievement of desired results in education without increasing the amount of used resources. The process of educational activities, especially teacher training whereas its representative content is a matter of expense that is considered as two subsystems, such as regular expenses and general consumption. Thus, the costs of educational activities, including the training of teachers should be considered an investment. Professional development of teachers and educational outcomes are directly related to the quality, in terms of educational production, and on the other hand the educational process. Human resource (teachers, assistants) is formed by investing in education, which leads to strengthening of the internal economic value. Moreover, it becomes a reason for overall economic growth, which ultimately results in a better quality of the life of citizens. Therefore, it is important to study education and even in terms of economic discourse because education and the labor market through external aims of education are in immediate and lasting correlation. Keywords: Teacher Training, Investment in Education, a Labor Market. 199 � https://omeka.ibu.edu.ba/files/original/5bcf103b7c33e5d74cace9422f6fe143.docx 789dab3e65afd2f0cedf2a272ad3ae65 https://omeka.ibu.edu.ba/files/original/3cbf41c65db80ef6d08a3f1133ae3876.pdf 34c549cca865bd12d20b4b53b906769a PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The Efficiency of Investment in Education and Teacher Training and Professional Development Melida Župljanin International University in Novi Pazar, Serbia meli_haki@hotmail.com Abstract The efficiency of education funding defines the possibility for the high achievement of desired results in education without increasing the amount of used resources. The process of educational activities, especially teacher training whereas its representative content is a matter of expense is considered as two subsystems, such as regular expenses and general consumption. Thus, the costs of educational activities, including the training of teachers should be considered an investment. Professional development of teachers and educational outcomes are directly related to the quality, in terms of educational production, and on the other hand the educational process. Human resource (teachers, assistants) is formed by investing in education, which leads to strengthening of the internal economic value. Moreover, it becomes a reason for overall economic growth, which ultimately results in a better quality of the life of citizens. Therefore, it is important to study education and even in terms of economic discourse because education and the labor market through external aims of education are in immediate and lasting correlation. Keywords: teacher training, investment in education, a labor market Introduction Teaching profession has its own specific characteristics in labor division concerning the work and social position and reputation in certain society. There are a lot of authors who were writing about a teacher, his role and significance of his function. In fact, different opinions and valuations of this profession are given in different periods, on different levels of development and different social systems, but all of the opinions and valuations in different periods agree that – ‘’ the teacher takes one of the most important places in the process of education, that his contribution in forming the young personality can’t be replaced and it is often said that schools are alike their teachers.’’ (Group of authors, 1969:253). The old Athens quote says that ‘’if a shoemaker makes shoes badly, it is not a big mistake, only for one year the Athens will be poorly shod, but if a teacher makes a mistake in education, the whole generations of the Athens will be bad-educated’’. Even then, there was awareness of the importance of teacher profession because the teacher is the one who has a really hard and significant task, to transfer the information and influence on the forming, shaping, progress and future of its students. The importance and complexity of teacher’s role require a good education, sincere commitment, great love to his work, life-long specialization but also a talent. It is often said that the teaching is art, not business. 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Teacher’s Position and Role in Social Context Social expectations and requirements are very high when we talk about teacher’s profession. It is in the nature of this job to have a lot of strict requirements for the teacher as a man as well as an expert. Social expectations such: ‘’He is a teacher and that’s why he has to do that’’ has its pair in imperative such as: ‘’ He is a teacher and that’s why he mustn’t do that.’’ First, he must be a man who loves working with young people and his job, then an expert in his work which means that he has to know the progress of young as well as didactical and methodical capacity and ability. The teacher has to be a teacher in the classroom and out of the classroom; his title lasts for twenty-four hours a day, seven days a week so it is a lifetime title. He always remains the teacher even in a daily social awareness. However, there are various prejudices referring to the teacher profession which society always highlights, and the main is the one that a teacher must be born to be a teacher. Mischievously or not, the quote that ‘’you have to be born for the teacher’’ we can interpret in the way that for training and educating the teacher we don’t need so much time as for the other professions. It is rarely forgotten that learning ‘ how to teach’ is a lifetime process; curriculum are changing, children generations are not the same, social requirements are growing, responsibility is not only of institutional character but also a parental character. For all types of ‘sacrificing’ during the educational process, the teacher is getting little attention and support from society. The teacher with his profession and social status has always been connected with the broad masses of people. His role in society was not always equally valued and it was different from period to period. Well-educated people highly cherished the teacher’s work and his role as a very honorable and significant. In order to do this work well, he has to be treasured publicly and accepted in the name of society because he is preparing future generations which are to depend on whole future itself and the future of society and community altogether. If the teacher is on the sidelines of social events, if he is not satisfied with his status it’s not fair to expect from him to be dedicated to his work as much as he should be. Jan Amos Komenski considered teacher’s duty as honorable like no other under the sunlight while Adolf Disterveg used to tell that the teacher in the school does the same like the sun in the space. ‘Education as a factor of economic growth or as an investment in human capital has a few components important for understanding his role in social progress:      It increases human knowledge, skills and ability for work performing and improvement; It influences work productivity growth, social products, national income; It contributes to the human progress, his involvement in social life and performing social roles; It conduces work division growth, production development, application of the scientific and technological achievements and innovations; It contributes to the life standard improvement, humanization of social relations, cultural progress, health protection and social environment.’’ (Ivanović, 2000:16). 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The Society Attitude towards Teacher’s Profession The attitude of society towards education in a certain way can manifest in its attitude towards teachers, their assortment, selection and social valuation of their work. According to the opinions of international experts improvement and progress of education depends on the teacher and their training. ‘’There is no more productive investment than investment in teacher’s education and efforts towards this goal. Nation has to be aware that this depends on them and if they economize and save money on those entrusted with the most precious treasure – awareness of its own youth and that would be the worst thing done. If we want to educate the people who modern society needs, it is important to increase general standard of teaching staff in education because it can’t exist without risk and serious disappointment and it can’t continue with the system of teaching staff recruitment who has no qualification for teaching profession.’’ (Mitrović, 1976:272). Teacher’s competence is a precondition for this vocation realization. Considering that it is a lifetime vocation, it can’t have a routine character. Teacher’s professional work is followed by three outlines: 1. Teacher’s pedagogical, psychological and didactical education. 2. The need for general progress of the teacher as a daily but also as a permanent necessity. The teacher is permanently refined with the achievement of human mind and act. 3. The teacher is in charge with the curriculum realization.’’ (Marković, 2002:40). The teacher thoroughly knows the teaching element and is informed about core questions and subjects in his field. The teacher doesn’t and shouldn’t know everything and shouldn’t simulate ‘omniscience’ in front of the students but on the other hand, he should always try not to tell them wrong claims. He follows educational progress and pedagogical methods and applies them to his work. There is no competent or incompetent teacher. There is only qualified teacher who is working on his professional specialization from the first class till the end of his career. Even then, at the end of his career, good teacher doesn’t end his specialization because he has constantly to improve himself. Many studies have confirmed that a good teacher can be formed not born so education and professional progress of teacher is very important. Competence of Modern Teacher When we talk about teacher’s competence, due to lack of that competence the teacher loses his reputation. ‘’The real ‘slippery’ where the teacher can skid is the area of professional work. That reputation can also be lowered when the teacher is the one ‘who knows everything’, all-knowing autocrat, but he is only a buzzing bell whose buzzing can’t be understood… Finally, that reputation is immersed in a routine and is parrot-killing the teacher as well as the student…’’ (Marković, 2002:40). Qualified teacher has to specialize and improve himself and can’t stop even at the end of his career; it is a lifelong learning and specialization. Constant professional and pedagogical specialization of every teacher should become a primary condition for future working in schools. The main teacher’s task is to teach students how to learn. Permanent 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo knowledge innovations and teacher’s specialization are the need in our society as an integral part of educational system. We deal with the problem of teacher’s education because of the influence on learning outcomes and achievements of the students. ‘’Required teacher’s competence which has a direct influence on the quality in school and to question if the teachers in their education (initially and during professional specialization) able for that competence. We see teacher’s education as an instrument for insurance of acquiring quality knowledge and student’s achievements.’’ (Marinković, 2010:9). Education of teachers has to satisfy two basic necessities: the need of society and professional and personal need of the teacher. Education of economic efficiency includes information related to the choice of vocation, adequate choice of future job, professional capacity that enables man to create material and spiritual goods for themselves and others. Permanent professional and pedagogical specialization of every teacher becomes a primary qualification for successful work in future school. It is a duty of institutions to educate those teachers. Specialization of teachers has to be permanent, well-organized, systematic and well stimulated. It also has to be institutionalized. Professional specialization, monitoring of narrower avocation and didactical and methodical innovation is a constant duty of every teacher individually and school altogether. Beside the talent, the teacher needs to be completely dedicated to his specialization and thus this requirement becomes more and more emphasized with the swift scientific and technological progress that affect changes of educational needs of students and therefore affect the process of teaching organization and the role of teacher in it. Studies show that achievement of students depends on their ability, as well as on the teacher’s quality. Therefore, we have the situation where the good teacher acquires and overcome certain teaching materials for six months while the bad teacher can acquire the same teaching lessons for two years. Today it is almost accepted fact that the old principle where learning is inseparable from education is being lost. Participants’ relation in the process of learning takes the form of the relation between producer and consumer of goods, and the knowledge becomes a form of value. Knowledge is, according to this, produced and from day to day it is going to be comprehended as a product which is produced to be sold and considered to be valorized in some new production. Therefore, it is produced to be exchanged and thus stops becoming its own purpose and loses ‘usability’. In order to answer the needs of modern decade, it is emphasized the necessity of changing methods of education, setting new aims and defining the meaning of its function. Modern, broader conception of education highlights acquiring of learning instruments more than acquisition of knowledge. Developed societies and those of XXI century build and rebuild ‘creative, highlymotivated and educated individual placed in liberalized but in competitive space.’’ (Marković, Maksimović, 1998:8). The Role of Teacher in Modern School Contemporary teaching requires from the teacher to be intelligent organizer and implementer of teaching and extracurricular activities, researcher, a good expert and watcher of his students and their intellectual leader. In other words, the teacher of present 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo and future is a less of a lecturer and examiner, student’s mistakes hunter, undisputed authority who knows and can do everything, he is a more of a researcher, teaching and student’s activities organizer, pedagogical diagnostician and therapist and offspring educator. It means that every teacher has to know a student he is educating, basic goals of education and tasks of teaching and learning as well as content he is implementing. It is to be assumed that innovations of teaching and learning include professionalism of teacher and his ability for team work, work with small and big groups, individual and mentoring of individual; teaching material hand-making, programmed materials, solving problems and etc. Status of the teacher is significantly changing and now raises to the qualitative new level in regard to the role he had in the old, traditional teaching lecturer-examiner process where his work was exhausted and the success of his students exclusively depended on his knowledge and quality of examination. The role of modern teacher is to teach his student how to learn ‘’ only one who learned how to learn can learn successfully.’’ (Prodanović, Ničković, 1978:25). In order to provide an adequate realization of the teacher’s role in modern school, their education and professional specialization is essential. According to world standards, it includes a university education. It was different in the past (teacher’s schools, pedagogical schools, high pedagogical schools, pedagogical academies), and today teaching vocation requires university level for all of the subjects in elementary and high schools. The advantage of this education consists of adequate selection of candidates, stronger connection between academic expertise and teacher’s profession, improved educational programs, greater connection between faculties and schools systems; favorable opportunities for teacher’s specializations and easier involvement in further progress and changes in system of education. In this way, standards of educating teachers are to be close to general standards and duration of university education and teacher’s vocation is about to become the most important element of university education and student’s employment. Programs of educating teachers include three areas important for their social role: a) General education b) Professional education in teacher’s academic expertise c) Professional didactical and methodical education in teacher’s vocation. - General education represents a precondition of university, humanistic education which is acquired during high school but also during the studies. - Professional education requires thorough knowledge of profession, scientific and professional areas in teaching. These knowledge as well as entire science and educational programs are under constant changes, obsolescence and innovation which means permanent commitment to specialization and knowledge actualization. - Professional didactical and methodical inclines preparation for teacher’s vocation, educational work and teaching process. Professional education of the teachers includes their training in the usage of new technologies, especially information technologies. At teacher training faculties programs of information technologies are introduced but this kind of education should also introduce with all other teachers. Obralić (2010) also talks on general and professional education (within the ideal types of education): ‘’to speak in general, there are widespread ideal types of education: the type of general education and the type of professional education, although none of them doesn’t suit completely because these two educations necessarily perpetuate. Namely, general education can’t be found in practice because of its universality. Even those who are the most educated don’t know what general fund of knowledge is. Education which goal is to 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo train for specific vocation is relatively known for its name and school curriculum.) (Obralić, 2010:137). One of the main obligations is a permanent education of teachers during the work, continually training and specialization of the teachers in accordance with the changes in educational system, the changes in society and activities to perform in school and out of the school. It is the process of teacher’s specialization which educates others but also educate them in order to be capable to analyze pedagogical situation, to apply different methods of education and methods of teaching, to prepare students for their education, to be a part of a permanent education. Professional specialization is one of the ways to form a character of the teacher who is required to the contemporary and modern school. In such school the teacher is of broad, professional and methodical education, focused on constant specialization with wide viewpoints and introduced with all of the characteristics of the environment he lives in, of the various interests and rich cultural life. Requirements for the growth of education quality affected advanced training or longlasting teachers’ education with the following goals: increasing and deepening knowledge in some disciplines; increasing professionalism and awareness of educational functions; helping teachers to discover and train their fields of expertise. Finally, some changes that are happening in the field of economy and politics impose the need to thoroughly examine educational paradigms on which the school system is reclined including the part where it educates the teachers. The expansion of education and constant pressure on increasing quality of teaching and training significantly influenced on highlighting professionalism as an extreme level of the teaching profession. Expectation of teachers and their answer to those expectations are different. Social context in which the role of the teacher manifests determines the relation towards profession and professionalism. In developed countries, requirements for teacher to be a great professional don’t only include prolongation and improvement of initial education. Different forms of permanent education naturally continue on initial education and their goal is to equally raise the level of theoretical knowledge and pedagogical skills tried in practice. Not until recently teacher’s professional progress was on the principle of ‘I want-I don’t want’ and basically the answer on calling for papers and participation on professional seminars was negative. A few people were interested in this problem, the feeling of marginalization that society caused. ‘’ The existence of compulsory and elective programs of teacher’s professional training is established in our system by regulative. Compulsory programs include the following area contents: pedagogical and psychological, didactical and methodological and narrow specialties of knowledge. Elective programs may have contents of broader areas but they have to be in the function of teacher’s work specialization.’’ (Stamatović, 2006:64). The most represented for of specialization in our system is seminar or workshop. However, we meet a large number of various forms of realization within the professional specialization and those are: conferences and counseling services, panel discussions, seminars, workshops, courses, professional consultations, research works, discussions, mentoring and many other forms. It is obvious that one group of specialization forms is more present that other and some forms are rarely applied. It’s very important to give priority to those work forms that actively engage teachers in improvement and acquisition of knowledge, skills and abilities… Rapid development of science and technology in the world significantly affects the need for expanding the level of knowledge and thus it represents some assignments related to the acquisition of new content. With the requests of contemporary and modern scientific and technological process application to the more developed societies, the progress of 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo science and technology is accelerated which influences on qualitative application of knowledge and education of youth. Today we need more systematic education of teachers of all profiles in knowledge acquisition and skill for successful application of modern technology in teaching some subject. It is well-known that a process of teacher’s professional progress begins with the selection of vocation – finishing studies, then apprenticeship, professional examination and continues to the constant professional specialization. Investment in Human Capital – Investment in Education It was originally considered, says Obralic (2011), that ‘’investment in education would bring benefits but while the process of mutual dependence was developing, we found out that relation is very complex and required and depend on many circumstances, especially social ones’’. Last few decades shows that investment in education (education expansion) doesn’t necessarily lead to the economic progress and growth and it can be a wasted investment. So, the relation investment – benefit that is to say total educational effects can become negative ones. Those situations are when the educational production doesn’t use rationally or when the part of educational production leaves the country (the brain drain). Besides the aspect of economic environment, these negative educational effects depend on political and cultural aspect of environment (political system inhibits the progress of economy and education can’t provide larger economic growth’’ (Obralić, H., 2011:188). The studies conducted by Obralic (2011) ‘’support the thesis that investment in human capital education produces larger effects on educational production than investment in other elements of education (facilities, technology). Investment and encouraging the development and improvement of human capital (teaching staff) strengthen the motivation of those staff which is highly important. Investment in human capital, or investment in education as a part of human capital produces some other intangible effects such as the possibility of easier approach to the information, possibility of participation in social life, more responsible behavior in the society, democratic election, rule of law and etc.’’ The same author says that ‘’ investment in education or investment costs should be considered (as well as the benefit from investment) with three levels: 1. Investment in education on the level of individual, 2. Investment in education on the level of institution, 3. Investment in education on the level of the society. Considering the complexity of investment in education, total effects of everything invested in additional education occurs through, on one side, the total economic progress, and on the other on the benefit of individual (Obralic, H. 2011:49). Through investment in education, Schultz (1971) emphasizes ‘’ it is invested in human capital on every level, from the individual to the social community (state). At the beginning of this chapter that is about human capital, human characteristics direct dependence on effectiveness; human health is on the first place. It is invested in the human capital through investment in health institutions that are supposed to maintain a good health (longer professional life), strength, resistance, energy and vitality of every individual’’ (Schultz, 1971. In Obralić, 2011:174). On the first sight, investment in education perceives the comprehension of resources investment in education and expected results which are visible in growing educational production (number of graduates) (Obralić, H. 2011:177). 7 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Finally, says Obralić, investment in human potential investment in rapid scientific, technological and social changes (important for national progress) why current knowledge, skills, values, opinion and habits are increasingly becoming obsolete is now imposed as an imperative (Obralić, H. 2011:52). Conclusion The importance of professional specialization process of the teacher is present in theoretical considerations but also in the practice. Results of many studies have shown that majority of teachers is ready for team work specialization. Since the educational process is an open system focused on constant development and changes, school as the place of educational realization process must also be open institution. However, the teacher is a person for whom the society and education authorities confirm he is qualified for education of youth, children and others. This expertise carries the burden of our future generations. The teacher’s character does not come out of the borders of social reality and his historical profile is cut off with that reality. Therefore Victor Igo’s idea is acceptable when he said that ’‘teacher’s army is the only army that civilization can confess with no shame.’’ References Grupa autora, (1969) Pedagogija I, Matica Hrvtska, Zagreb Ivanović, S. (2000) Obrazovanje sutrašnjice, Beograd Marinković, S. (2010) Profesionalni razoj nastavnika i postignuća učenika, Užice Marković, Ž., (2002) Nastavnik je vaspitač, Kragujevac Marković, M. i Maksimović, I.,(1998)Kakav vaspitač treba da bude, Zbornik radova, Šabac Obralić, H. (2011), Uloga menadžmenta u vrednovanju obrazovnih efekata, Sarajevo Obralić, T. (2010), Idealni tipovi u menadžmentu obrazovanja, Sarajevo Prodanović, T. i Ničković, R.(1978), Didaktika, Zavod za udžbenike i nastavna sredstva, Beograd Stamatović, J., (2006) Programi i oblici stručnog usavršavanja nastavnika, Beograd 8 � 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. 1650 Title A name given to the resource The Efficiency of Investment in Education and Teacher Training and Professional Development Author Author ŽUPLJANIN, Melida Abstract A summary of the resource. The efficiency of education funding defines the possibility for the high achievement of desired results in education without increasing the amount of used resources. The process of educational activities, especially teacher training whereas its representative content is a matter of expense that is considered as two subsystems, such as regular expenses and general consumption. Thus, the costs of educational activities, including the training of teachers should be considered an investment. Professional development of teachers and educational outcomes are directly related to the quality, in terms of educational production, and on the other hand the educational process. Human resource (teachers, assistants) is formed by investing in education, which leads to strengthening of the internal economic value. Moreover, it becomes a reason for overall economic growth, which ultimately results in a better quality of the life of citizens. Therefore, it is important to study education and even in terms of economic discourse because education and the labor market through external aims of education are in immediate and lasting correlation. Keywords: Teacher Training, Investment in Education, a Labor Market. 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/324c37174f13951586db4a8bf8ab4331.docx 268cbda159f6ed64935f7a9fe2509b9f https://omeka.ibu.edu.ba/files/original/6c400000c00ca7423424e6843696495f.pdf b0cecfcecbb414fead9a397de9957253 PDF Text Text An Exploration of Instructors’ Role in Implementing Group Work When Teaching English with Particular Reference to Debre Birhan College of Teachers Education Mulat Adane Abaye Addis Ababa University/ Addis Ababa, Ethiopia Key words: Implementation of Group Work in Teaching English ABSTRACT The main objective of this study was to explore English Language Instructors’ role in Higher Education Institutions in implementing group work. To this end, Debre Birhan College of Teacher Education was selected as a study area. To gather information from the subjects (6 English Language Teachers and 75 students from Language Department) three instruments (questionnaire, class room observation and interview) were used. All English Language teachers who were giving different English Language courses as well as 30% of the total number of the students (75 in number) were taken as a subject. Simple random sampling was used to select the sample students; besides, to ensure proportionality of the two sexes as well as to take the proportitional number of students from each batch stratified sampling was also employed. The result of the study clearly showed that all the teachers were frequently incorporating group work when teaching English. Furthermore, from the students’ questionnaire, it was found that the majority of the students wanted to learn through group work and they had the experience of learning through it. In addition, it was found that the majority of the instructors appeared to have adequate understandings about the various roles they were expected to play when using group work in teaching English. However, from the classroom observations and the students’ response, it was found that the majority of instructors were not efficiently playing their expected roles in group work. And, though the study showed some factors which hinder instructors from playing their expected roles effectively in group work, it was also concluded that the major factor is negligence. Finally, based on the result obtained through the three instruments, it was concluded that group work was not properly implemented by the majority of English Language teachers. Hence, the importance of preparing short or long term trainings regarding group work especially for teachers by any concerned bodies as well as some other possible solutions were recommended to alleviate the problems regarding group Work. � 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. 1841 Title A name given to the resource An Exploration of Instructors’ Role in Implementing Group Work When Teaching English with Particular Reference to Debre Birhan College of Teachers Education Author Author ABAYE, Mulat Adane Abstract A summary of the resource. Key words: Implementation of Group Work in Teaching English ABSTRACT The main objective of this study was to explore English Language Instructors’ role in Higher Education Institutions in implementing group work. To this end, Debre Birhan College of Teacher Education was selected as a study area. To gather information from the subjects (6 English Language Teachers and 75 students from Language Department) three instruments (questionnaire, class room observation and interview) were used. All English Language teachers who were giving different English Language courses as well as 30% of the total number of the students (75 in number) were taken as a subject. Simple random sampling was used to select the sample students; besides, to ensure proportionality of the two sexes as well as to take the proportitional number of students from each batch stratified sampling was also employed. The result of the study clearly showed that all the teachers were frequently incorporating group work when teaching English. Furthermore, from the students’ questionnaire, it was found that the majority of the students wanted to learn through group work and they had the experience of learning through it. In addition, it was found that the majority of the instructors appeared to have adequate understandings about the various roles they were expected to play when using group work in teaching English. However, from the classroom observations and the students’ response, it was found that the majority of instructors were not efficiently playing their expected roles in group work. And, though the study showed some factors which hinder instructors from playing their expected roles effectively in group work, it was also concluded that the major factor is negligence. Finally, based on the result obtained through the three instruments, it was concluded that group work was not properly implemented by the majority of English Language teachers. Hence, the importance of preparing short or long term trainings regarding group work especially for teachers by any concerned bodies as well as some other possible solutions were recommended to alleviate the problems regarding group Work. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed https://omeka.ibu.edu.ba/files/original/9ba08d2b944f43a31bdc4c2c3c0d3ab1.docx e96e3e9744e1df3805bd8cb1766c6c30 https://omeka.ibu.edu.ba/files/original/59e12ad88d246bbe14240d4a773183dc.pdf 2a3d7af536bf624f0e58fe94fc055d5b PDF Text Text Peripheral Study of Second-Language Acquisition Sayeh S Abdullah College of Electronic Technology/ Baniwalid, Libya Key words: inter-language, sociolinguistic, strategic competence, learning mechanisms fossilization ABSTRACT This paper includes a discussion on the nature of SLA and different approaches towards it.Factors affecting the processes of SLA has been mentioned as vital to the topic.Some key terms related to SLA has been explained so as the reader may feel at ease while going through this paper. The factors influencing the second language acquisition are included in this research as they are to be kept in while dealing with the topic of SLA. The target of research is to enhance the awareness among teachers and learners the essentials of second language equisition. � 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. 1925 Title A name given to the resource Peripheral Study of Second-Language Acquisition Author Author ABDULLAH, Sayeh S Abstract A summary of the resource. Key words: inter-language, sociolinguistic, strategic competence, learning mechanisms fossilization ABSTRACT This paper includes a discussion on the nature of SLA and different approaches towards it.Factors affecting the processes of SLA has been mentioned as vital to the topic.Some key terms related to SLA has been explained so as the reader may feel at ease while going through this paper. The factors influencing the second language acquisition are included in this research as they are to be kept in while dealing with the topic of SLA. The target of research is to enhance the awareness among teachers and learners the essentials of second language equisition. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed https://omeka.ibu.edu.ba/files/original/2687fecfb32fc1c2e2f893bbdbe9d16c.docx 2929938050c46c614d3b61bf13458a7d https://omeka.ibu.edu.ba/files/original/63632ff6dfd58e80230baa25d29f3876.pdf 5f211c53db848f760d9aee2cd2b45ca2 PDF Text Text Retrospective Review of the Teaching of English in the Third World Countries Sayeh S Abdullah College of Electronic Technology/ Baniwalid, Libya Key words:Colonialist influence, Cultural flexibility, interaction, stimulative, vitility ABSTRACT Learning of any second language which once had been as fashion or fun, now has become a necessity. Economical globalization has given birth to the communicational globalization, this in turn, has factorized in the emergence of a global language, in the shape English. The learning of English has become a distinctive academic phenomenon around the globe and in particular a subject of privilege in the third world countries, but like the other fields, this academic field has undergone various upheavals. Non availability of linguistic experts and inconsistency in the delivery has made the English learning a staggering process in these countries. This paper focuses on the teaching of English as seen thrown the eyes of scholars with particular reference to the dogmatic approaches towards the practical significance of cultural interaction in the teaching process. � 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. 1928 Title A name given to the resource Retrospective Review of the Teaching of English in the Third World Countries Author Author ABDULLAH, Sayeh S Abstract A summary of the resource. Key words:Colonialist influence, Cultural flexibility, interaction, stimulative, vitility ABSTRACT Learning of any second language which once had been as fashion or fun, now has become a necessity. Economical globalization has given birth to the communicational globalization, this in turn, has factorized in the emergence of a global language, in the shape English. The learning of English has become a distinctive academic phenomenon around the globe and in particular a subject of privilege in the third world countries, but like the other fields, this academic field has undergone various upheavals. Non availability of linguistic experts and inconsistency in the delivery has made the English learning a staggering process in these countries. This paper focuses on the teaching of English as seen thrown the eyes of scholars with particular reference to the dogmatic approaches towards the practical significance of cultural interaction in the teaching process. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed https://omeka.ibu.edu.ba/files/original/e4eee159b31eefed0b7575072581f99f.docx 1c657eaeb3d20d2faf106a9de94390fe https://omeka.ibu.edu.ba/files/original/bc59c82f929e706f2640a71375ce4331.pdf d4d1947ac59256ceb8ae47a0daf606b1 PDF Text Text ‘Vicarious’ Interaction in Efl Online Discussions: A Classroom Research Elena Onchevska Ager Ss Cyril and Methodius University/ Skopje, Republic of Macedonia Key words: e-learning, vicarious participation, student identities ABSTRACT In this talk, I will summarise my main learning moments from a classroom research into the quality of my undergraduate students‟ (n=50) participation in online platform discussions. I set up a Google Group as a noncompulsory e-component to my EFL course. This platform was envisaged as an opportunity for my students to alternatively contribute to the course by starting threads on topics of their interest or by commenting on existing threads. What caught my attention after observing their e-exchanges for a full academic year (2011/12) was that some students--albeit active in class--mostly stayed away from online activity. Others mysteriously disappeared from this online forum half way through the course. I was curious to explore the reasons for this, at times, strange (e-) behaviour among my students. I engaged in both first- and second-order research (Marton in Freeman, 1998), as I was keen on investigating both the quality of my students‟ exchanges and their perceptions of, and speculations about, their own behaviours. This classroom research shed local light on a global phenomenon: „vicarious interaction‟, i.e. observing the interaction between other participants without taking active part in it (Sutton, 2000). Some of my students‟ feedback supported Sutton‟s claim that “direct interaction is not necessary for all students” (p. 3) and that some might learn best via long periods of observation before actually joining the group at a visible level (if they join the group at all). Sutton strongly argues that participants should be given control over how they interact with other participants, to what extent and whether they interact at all. This realisation has changed the way I perceive face-to-face interaction in class, too (not only online interaction), and has the potential to carry implications for any teaching context, teacher training contexts included. � 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. 1742 Title A name given to the resource Vicarious’ Interaction in Efl Online Discussions: A Classroom Research Author Author AGER, Elena Onchevska Abstract A summary of the resource. Key words: e-learning, vicarious participation, student identities ABSTRACT In this talk, I will summarise my main learning moments from a classroom research into the quality of my undergraduate students‟ (n=50) participation in online platform discussions. I set up a Google Group as a non-compulsory e-component to my EFL course. This platform was envisaged as an opportunity for my students to alternatively contribute to the course by starting threads on topics of their interest or by commenting on existing threads. What caught my attention after observing their e-exchanges for a full academic year (2011/12) was that some students--albeit active in class--mostly stayed away from online activity. Others mysteriously disappeared from this online forum half way through the course. I was curious to explore the reasons for this, at times, strange (e-) behaviour among my students. I engaged in both first- and second-order research (Marton in Freeman, 1998), as I was keen on investigating both the quality of my students‟ exchanges and their perceptions of, and speculations about, their own behaviours. This classroom research shed local light on a global phenomenon: „vicarious interaction‟, i.e. observing the interaction between other participants without taking active part in it (Sutton, 2000). Some of my students‟ feedback supported Sutton‟s claim that “direct interaction is not necessary for all students” (p. 3) and that some might learn best via long periods of observation before actually joining the group at a visible level (if they join the group at all). Sutton strongly argues that participants should be given control over how they interact with other participants, to what extent and whether they interact at all. This realisation has changed the way I perceive face-to-face interaction in class, too (not only online interaction), and has the potential to carry implications for any teaching context, teacher training contexts included Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed