196 10 3494 https://omeka.ibu.edu.ba/files/original/be7bc8f3b8a678bed8e9255330f1d469.pdf db7d3e107d29476bb1b20f4b00c4c682 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Effect of Extracurricular Activities on Sustainable Improvement Process of Higher Education through Example of Business Clubs Magrdžija Haris International Burch University, Bosnia and Herzegovina haris.magrdzija@gmail.com Elif Öztürk International Burch University, Sarajevo, Bosnia and Herzegovina eozturk@ibu.edu.ba This study includes the overview of the effect of extracurricular activities on sustainable improvement process of higher education through example of business clubs. The main purpose of this study is to contribute the literature with the information about influences of these kinds of activities on quality of higher education. Also, this study presents factors that have effect on sustainable improvement process of higher education institutions related to clubs activities. Through realization of projects and activities such as organization of seminars, workshops, conferences etc., students' clubs contribute to improvement of quality in higher education. The survey technique is used to gather information that is collected by the universities operating in BIH and Turkey. Additionally, factor analysis is explored to analyze the results in this study. Findings of this study state that there are positive effects of business clubs on sustainable improvement process of universities in terms of quality, innovations and cooperation between the universities and business world. Also, results of this study reflect importance of support to student activism in order to make them more significant as subjects in the education process and improve its quality. This study can be a source of motivation for other similar researches. Keywords: Sustainable Improvement, Innovations, Corporations. 193 Higher Education, Quality, � 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. 1602 Title A name given to the resource Effect of Extracurricular Activities on Sustainable Improvement Process of Higher Education through Example of Business Clubs Author Author MAGRDZIJA, Haris ÖZTÜRK, Elif Abstract A summary of the resource. This study includes the overview of the effect of extracurricular activities on sustainable improvement process of higher education through example of business clubs. The main purpose of this study is to contribute the literature with the information about influences of these kinds of activities on quality of higher education. Also, this study presents factors that have effect on sustainable improvement process of higher education institutions related to clubs activities. Through realization of projects and activities such as organization of seminars, workshops, conferences etc., students' clubs contribute to improvement of quality in higher education. The survey technique is used to gather information that is collected by the universities operating in BIH and Turkey. Additionally, factor analysis is explored to analyze the results in this study. Findings of this study state that there are positive effects of business clubs on sustainable improvement process of universities in terms of quality, innovations and cooperation between the universities and business world. Also, results of this study reflect importance of support to student activism in order to make them more significant as subjects in the education process and improve its quality. This study can be a source of motivation for other similar researches. Keywords: Sustainable Improvement, Higher Education, Quality, Innovations, Corporations. 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/cd68c6b3a73c7694884001e66028b2e6.pdf 4974918779334aaec889660ca8102d45 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Predictability of Financial Crisis in Developing Countries: Turkey, Argentina and Thailand M. Ali Avcı Pamukkale University, Denizli, Turkey aliavci20@hotmail.com N. Oğuzhan Altay Ege University, İzmir, Turkey oguzhan.altay@ege.edu.tr Harun Sulak Süleyman Demirel University, Isparta, Turkey harunsulak@sdu.edu.tr Since 1980’s, financial liberalization policies that implemented without adequate infrastructure in order to decrease inflation and interest rates also construct a sustainable growth process led to many financial crisis which have significant effects throughout the world. Therefore many models have developed to explain these crises. Main purpose of these models is to increase the predictability of financial crisis by identifying the factors that affecting the formation of crisis. Determining factors affecting the formation of financial crisis and trying to predict the crisis is very important in preventing crisis. In this context the aim of this study is analysis the predictability of financial crisis that occurred in developing countries which are Turkey, Argentina and Thailand 1990-2010 periods, by using Markov Regime Chance Model. In generated models, indices of financial pressure were calculated as dependent variable and fifteen different indicators were chosen from the literature to describe these indices. Successful indicators in predicting financial crises are: for Turkey; trend deviation of real exchange rate, domestic credits/industrial production, inflation and M2/reserves, for Argentina; stock price, difference in real interest rate, inflation and M2/reserves and for Thailand; trade balance, terms of trade, M2/reserves and oil prices. As a result of this study, financial crises such as 1994 and 2001 crises in Turkey, 1994, 2002 and 2009 crises in Argentina and 1997 and 2009 crises in Thailand were successfully predicted. Keywords: Financial Crisis, Financial pressure, Markov Regime Chance Model, Predictability. 191 � https://omeka.ibu.edu.ba/files/original/fbe70e39d5ba9feecfb5a0957ad76bf0.docx 391314f2890baa9ae240369e0c3bdbbc https://omeka.ibu.edu.ba/files/original/1df8a18e763450743ebc3bcb8b5e966a.pdf 1151cb26deb7732c36b181f3ade92eb3 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. 1629 Title A name given to the resource Predictability of Financial Crisis in Developing Countries: Turkey, Argentina and Thailand Author Author M. AVCI, Ali N. OGUZHAN, Altay SULAK, Harun Abstract A summary of the resource. Since 1980’s, financial liberalization policies that implemented without adequate infrastructure in order to decrease inflation and interest rates also construct a sustainable growth process led to many financial crisis which have significant effects throughout the world. Therefore many models have developed to explain these crises. Main purpose of these models is to increase the predictability of financial crisis by identifying the factors that affecting the formation of crisis. Determining factors affecting the formation of financial crisis and trying to predict the crisis is very important in preventing crisis. In this context the aim of this study is analysis the predictability of financial crisis that occurred in developing countries which are Turkey, Argentina and Thailand 1990-2010 periods, by using Markov Regime Chance Model. In generated models, indices of financial pressure were calculated as dependent variable and fifteen different indicators were chosen from the literature to describe these indices. Successful indicators in predicting financial crises are: for Turkey; trend deviation of real exchange rate, domestic credits/industrial production, inflation and M2/reserves, for Argentina; stock price, difference in real interest rate, inflation and M2/reserves and for Thailand; trade balance, terms of trade, M2/reserves and oil prices. As a result of this study, financial crises such as 1994 and 2001 crises in Turkey, 1994, 2002 and 2009 crises in Argentina and 1997 and 2009 crises in Thailand were successfully predicted. Keywords: Financial Crisis, Financial pressure, Markov Regime Chance Model, Predictability. 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/fd2b70186ca0278a62075f64b69a79ed.pdf d0af275f393e3258a370f23d76fbda3f PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo English language as an instrument of globalization Amela Lukač Zoranid International University in Novi Pazar, Novi Pazar, Serbia prorektor.nastava@uninp.edu.rs Fahreta Fijuljanin International University in Novi Pazar, Novi Pazar, Serbia fahretaf@hotmail.com World globalization establishes new standards for foreign language skills as well as for the teachers of foreign languages. Market globalization represents one of the main factors that influenced English language to be international language. In order to have a successful interaction between foreign companies, market and economy felt a need for the knowledge of English language. In this way English language became a device, an instrument of successful management and the most useful second language. There was also the need to improve knowledge of English language in every company and business institutions. Increasing the number of English language speakers, we increase the international communication in an academic and business level. Keywords: Globalization, Communication English 35 Language, Market, Business, � https://omeka.ibu.edu.ba/files/original/0482007d1d84f6caf0483450747f0cf4.docx 9be67f0a605b3e239f37a2f739ece4c5 https://omeka.ibu.edu.ba/files/original/c4f541b57784c4a823307fea7840e6d8.pdf 43a4956098de59ea8dcfe65492679d78 PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo English Language as an Instrument Of Globalization Amela Lukač Zoranić International University in Novi Pazar, Novi Pazar, Serbia prorektor.nastava@uninp.edu.rs Fahreta Fijuljanin International University in Novi Pazar, Novi Pazar, Serbia fahretaf@hotmail.com Abstract World globalization establishes new standards for foreign language skills as well as for the teachers of foreign languages. Market globalization represents one of the main factors that influenced English language to be international language. In order to have a successful interaction between foreign companies, market and economy felt a need for the knowledge of English language. In this way English language became a device, an instrument of successful management and the most useful second language. There was also the need to improve knowledge of English language in every company and business institutions. Increasing the number of English language speakers, we increase the international communication in academic and business level. Keywords: Globalization, English Language, Market, Business, Communication Globalization is a term used to describe the changes occurring in our everyday lives and in society as well economy and politics resulting from international trade and cultural exchange. In economics the expression “free trade” was used prior to the term “globalization” to describe trade liberalization and deregulation on international market. The same term “globalization” nowadays is used in extended context, i.e. to describe all aspects of human existence. It is becoming increasingly difficult to ignore that: Today's definition of the term comprise of factors that have contributed to globalization including increasingly sophisticated communications (in all levels), transportation technologies and services, mass migration and the movement of peoples and languages. It comes to define a level of economic, social and cultural activities that have outgrown national borders and markets through either industrial combinations and commercial groupings that cross national frontiers, international agreements that reduce the cost of doing business in foreign countries, or cultural influences of certain societies on others. (Wu & Dan, 2006) Globalization enables interference of populations, cultures, languages within international borders as a result of the intensifying economic, social and cultural exchanges within different societies. Access to new technologies, media, internet an other medium of communication allow individuals global interactions with the belief that they frame intercultural communication. There is no doubt that globalization intensifies worldwide social relations and consciousness of the world as whole and is considered as “fashionable buzzword” which can be adopted as a “concept referring to people‟s groving consciousness of belonging to a global community.” (Steger, 2003:11). 56 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo According to Giddens “globalization is westernization or more specifically Americanization since western powers or the United States is now the sole superpower, with a dominant economic, cultural and military position in the global order [and] many of the most visible cultural expressions of globalization are American-coca cola, McDonald s and CNN.” (2000: 33). Stager attempts to indicate that the term globalization applies to a set of social processes that appear to “transform our present social condition of weakening nationality into one of globality”. (2003:10) He explains that globalization is about shifting forms of human contact. In order to define and clarify the phenomenon of globalization Stager raises some questions like: How does globalization occur? What is diving globalization? Is it the cause or a combination of factors? Is globalization a uniform or an uneven process? How does globalization differ from previous social developments? (2003:11) Stager believes that globalization is an uneven process, meaning that people living in various part of the world are affected very differently by this gigantic transformation of social structures and cultural zones. Nevertheless, when we speak about globalization, intercultural features the first language that comes to mind is English language. It is noticeable that English is acknowledged by nearly all people as a result of their need to interact on an international scale. Anglo-America culture industry made English the global lingua franca of the 21st century. English is used in the economy, diplomacy, massmedia and education all over the globe in comparison with other languages which remained visible within national and regional frameworks. The significance of the rise of the English language has a long history reaching back to the British colonialism and the attempt to subaltern the rest of the world as well to exploit and assimilate other cultures imposing English language as medium of communication between people. In 16th century, at the beginning of colonization only 7 million people used English as their mother tongue, by the end of the 20th century the number increased to over 350 million. “English was the official vehicle and the magic formula to colonial elite.”(Wa Thiongo, 2004:12). In many colonized countries English has not been rejected as a symbol of colonialism, it has rather been adopted as a politically neutral language. Any achievement in spoken or written English was rewarded. English became the measure of intelligence and ability in arts, science, music, literature. English became the main determinant for the progress and the success in education and business. Imperialism, led by the USA, presents the struggling peoples of the earth and all those calling for peace, democracy and socialism with the ultimatum: accept theft or death […] Biggest weapon wielded and actually daily unlashed imperialism against the collective defiance is the cultural bomb. The effect of cultural bomb is to annihilate a people‟s belief in their names, in their languages, in their environment, in their heritage of the struggle, in their unity, in their capacities and ultimately in themselves. (Wa Thiongo, 2004:3) Starting from the fact that “language serves as a symbol of group belonging enabling different groups of people to know what ethnic group they belong to and what common heritage they share”. (Kiplangat, 2003) Without language, people would lose their cultural 57 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo identity, still the data pointing that English language is more used in some countries than native languages is concerning. “The fact that absorption of the indigenous population by the colonisers has generally led to the loss of indigenous languages, especially when the colonised are kept in a subordinate position. The critical factor is their involvement in an economic system in which they must use the language of the new ruler in order to compete in the labour force and function adaptively. This is an aspect of globalisation as homogenisation, requiring that things work more or less the same way in the colony as in the metropole, especially in the exercise of power and control of the working class.” (Solikoko, p.29) With globalization allowing languages and their cultures to spread and dominate on a global scale, it also leads to the extinction of other languages and cultures. Steger points out the decrease in number of spoken languages in the world. According to him there were 14,500 spoken languages in the world during 1500, to less then 7,000 in 2000. “Given the current rate of decline, some linguistics predicts that 50-90% of the currently existing languages will have disappeared by the end of the 21st century. (2003:84) According to Anne Johnson along with the spread of the dominant language, the language's culture is also spread. This can be seen in popular American movies being shown globally, as well as American media and American food, such as in the globalization of McDonald's. Proficiency in English has become a valuable commodity. Increases in global interactions over the past century have stimulated demand for more streamlined and efficient communication across lingual borders. Thus, in the business world, companies seeking to expand multinationally have had to find ways to communicate across such difference in cost-effective ways. Many firms have 58 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo changed their corporate languages to the common tongue of English in efforts to streamline communication and avoid leaving team members. Responding to this situation, nearly a billion individuals worldwide are learning the language, most in hopes that their lingual skills will boost their paycheck or land them a better job. States, too, understand that an English-speaking workforce can help their economies integrate and become more competitive on the world market. (Johnson, 2009:132) Anne argues that English language is seen as an imperialist and homogenizing force detrimental to the world‟s cultural diversity, and then examine evidence to the contrary, which indicates that the English language is separating from its culture of origin and actually facilitating cross-cultural dialogue. (Johnson, 2009:136) English is not only the language of the Anglo-Saxon nations but is the common language of many nations worldwide. It has been used in everyday life, in literature in all parts of human acting. Today, more than 80% content posted on the internet is English, leading scientific works are published in English. “in 1997, 95% of the articles indexed in the Science Citation Index‟s Web of Science were written in English, despite the fact that only half were written by authors in English-speaking countries.” (Johnson, 2009:135) It has been noted by the researchers that publications written in languages other than English have a considerably lower impact than English-language works, and command lower compensation than works published in English. It is believed that English language and globalization function as a pull factors for one another. Globalization could not happen in such a degree without development and vest usage of English language and at the same time globalization strengthen the position of English as a global language. It is considered that global community can not function effectively without global language, therefore, as Crystal emphases: English is the language of globalization or “global language”. (Crystal, 1997) Economic and professional incentives have made English an asset, “exportation of desirable technology often carries along the language and culture of the powerful manufacturer.” (Solikoko, 2002:33) Whether it is a result of imperialistic plans of western powers over Europe or it is a natural consequence of globalization, it is certain that English is increasingly becoming popular in European media and education. It is been imposed that who has the knowledge of English doesn‟t need other language in order to communicate with the rest of the world. “A language achieves a genuinely global status when it develops a special role that is recognized in every country.” (Crystal, 1997:3) Is the dominance of English in scientific communication leading to a diglossic situation in continental European countries, a concomitant marginalisation of languages that hitherto have been extensively used in higher education and scholarly writing, with the result that competence in English is becoming a characteristic of elites, and we are moving towards an undemocratic division of linguistic labour since the rest of the population will be confined to a language in which much information is never available? (Philpson, 2000: 198) 59 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo According to Philipson the USA and UK have coordinated efforts to establish English as a „world‟ language, and create the necessary professional infrastructure for achieving this since the 1930s. Crystal believes that British political imperialism had sent English around the globe, during nineteenth century. A language has traditionally become and international language for one chief reason: the power of its people – especially their political and military power. During the twentieth century […] economics replaced politics as the chief driving force, and the language behind the US dollar was English. (1997:9-10) In conclusion it is obvious that English language is a salient example of globalization. As stated by Schichao Li in her article, "Globalization of Languages," the English language can be considered a global language because "except English, no other language dominates international business, academia, media, the Internet, and international air/sea traffic."(2002) English language became a device, an instrument of successful management and the most useful second language. On a daily basis, there is a constant need to improve knowledge of English language in every company or business institution, therefore the rising number of English speakers increases the international communication in academic and business level. References Cheruiyot, Kiplangat. (2003), "Our Languages are Dying", http://www.globalpolicy.org/globaliz/cultural/2003/0224language.htm Crystal, David, (1997), English as a global language, Cambridge University Press, New York Giddens, Anthony, (2000), Runaway World: How Globalization Reshaping Our Lives, Routledge, New York Johnson, Anne (2009) "The Rise of English: The Language of Globalization in China and the European Union," Macalester International: Vol. 22, Article 12. http://digitalcommons.macalester.edu/macintl/vol22/iss1/12 Phillipson, Robert, (2000), “European language policy: An unmet sociolinguistic challenge”, Sociolinguistica, No. 14, 2000, p. 197-204. Salikoko S. Mufwene, (2002), “ Colonization, Globalization, and the Future of Languages in the Twenty-first Century”,International Journal on Multicultural Societies, Vol. 4, No. 2, UNESCO Shichao, Li, (2002), "Globalization of Languages", http://www.globalhawaii.org/PDF/language.pdf Steger, B., Manfred, (2003), Globalization: A very short introduction, Oxford University Press, New York Wa Thiango, Ngugi, (2004), Decolonizing the mind: the politics of language in African literature, Sunlitho ltd., Kenya Wu, Li, Dan, Ben-Canaan,(2006),The Impact of Globalization and the Internet on English Language Teaching and Learning, Heilongjiang University, School of Western Studies, Harbin http://www.academia.edu/188911/The_Impact_of_Globalization_and_the_Internet _on_English_Language_Teaching_and_Learning 60 � 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. 1480 Title A name given to the resource English language as an instrument of globalization Author Author LUKAČ ZORANIĆ, Amela FIJULJANIN, Fahreta Abstract A summary of the resource. World globalization establishes new standards for foreign language skills as well as for the teachers of foreign languages. Market globalization represents one of the main factors that influenced English language to be international language. In order to have a successful interaction between foreign companies, market and economy felt a need for the knowledge of English language. In this way English language became a device, an instrument of successful management and the most useful second language. There was also the need to improve knowledge of English language in every company and business institutions. Increasing the number of English language speakers, we increase the international communication in an academic and business level. Keywords: Globalization, English Language, Market, Business, Communication 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/42babe8dc966a3c49ea3942f9d8639d7.pdf ee247a3b506516254e12090757f2e7bc PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Croatian Reformed Pension System Crisis and Models of Sustainable Optimization Goran Luburid Business School Zagreb, Zagreb, Croatia goran.luburic@vpsz.hr Senka Zavišid Zagreb University, Zagreb, Croatia senkaza@gmail.com Croatia, as well as many western-economy based countries, is expecting longterm negative demographic trends when it comes to young and elderly ratio or natural increase ratio. Social policy objective in the context of pension system is supposed to be crucial factor in preserving social stability based on longterm sustainability, not on short-term solutions like abundant debt-funded pensions directly from national budget. Recent macroeconomic changes in Croatia, like structural unemployment because of inconsistent demand and supply on labor market as well as extinction of old and expansion of new business markets puts Croatian pension system in challenging economic surroundings. These surroundings identify a new way of approach on determining future macroeconomic projections and designing a better and more sustainable fiscal system of which pension system holds substantial part. The study presents argumented thoughts on previous and recent analyses of Croatian pension system, mainly from the period after pension reforms in Croatia that is between 2002 and 2012. Authors of this study identify fundamental problems and present a new perspective considering the direction of possible future changes in the pension system, having in mind recent demographic and public finance trends in Croatian economy. Authors also present conceptual directions towards optimization of the pension system, with emphasis on specifically applicable models of optimization considering pension pillars and other social contributions that are obligatory in calculating brutto wages. In addition, this study presents interest groups like pensioners, insured workers, obligatory pension funds and government that would be affected by proposed models of optimization. Different approaches in creating motivational factors for pension system optimization had been analyzed and presented solutions have a built-in trade-off for every analyzed interest group. Presented models are to be considered for potential implementation or new reform that would improve pension adequacy rates without affecting fiscal sustainability of public finance in Croatia. Keywords: Croatian Pension Insurance, Pension System Reforms, Demographic Changes, Sustainability, Optimization Level, PAYG. 130 � 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. 1514 Title A name given to the resource Croatian Reformed Pension System Crisis and Models of Sustainable Optimization Author Author LUBURIĆ, Goran ZAVIŠIĆ, Senka Abstract A summary of the resource. Croatia, as well as many western-economy based countries, is expecting longterm negative demographic trends when it comes to young and elderly ratio or natural increase ratio. Social policy objective in the context of pension system is supposed to be crucial factor in preserving social stability based on longterm sustainability, not on short-term solutions like abundant debt-funded pensions directly from national budget. Recent macroeconomic changes in Croatia, like structural unemployment because of inconsistent demand and supply on labor market as well as extinction of old and expansion of new business markets puts Croatian pension system in challenging economic surroundings. These surroundings identify a new way of approach on determining future macroeconomic projections and designing a better and more sustainable fiscal system of which pension system holds substantial part. The study presents argumented thoughts on previous and recent analyses of Croatian pension system, mainly from the period after pension reforms in Croatia that is between 2002 and 2012. Authors of this study identify fundamental problems and present a new perspective considering the direction of possible future changes in the pension system, having in mind recent demographic and public finance trends in Croatian economy. Authors also present conceptual directions towards optimization of the pension system, with emphasis on specifically applicable models of optimization considering pension pillars and other social contributions that are obligatory in calculating brutto wages. In addition, this study presents interest groups like pensioners, insured workers, obligatory pension funds and government that would be affected by proposed models of optimization. Different approaches in creating motivational factors for pension system optimization had been analyzed and presented solutions have a built-in trade-off for every analyzed interest group. Presented models are to be considered for potential implementation or new reform that would improve pension adequacy rates without affecting fiscal sustainability of public finance in Croatia. Keywords: Croatian Pension Insurance, Pension System Reforms, Demographic Changes, Sustainability, Optimization Level, PAYG. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/784ee7aa81c2221d7f56baf386194160.pdf 468057baa2b1846b91511dfe91e97495 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Effects of Advertising on Sales: the Evidence from Bosnia and Herzegovina Cemil Kutay Tınmaz International Burch University, Sarajevo, Bosnia and Herzegovina cemilkutaytinmaz@gmail.com Elif Öztürk International Burch University, Sarajevo, Bosnia and Herzegovina eozturk@ibu.edu.ba This paper, presents effects of advertising on sales. As it is known, advertising is most important term to sell specific products. Firstly, the meaning of advertising is explained in this study. In addition to the explanations, advantages and disadvantages of advertising are investigated. There are also general definitions to underline the importance of advertising. Moreover, survey technique is explored in this study. Also, effects of advertising on sales are illustrated by graphs according to the findings of that survey. Additionally, this study includes explanations of all effects that are occurred by the research. As a result of this study, there are positive effects of advertising on sales. Keywords: Advertising, Effect of Advertising, Sales. 76 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1519 Title A name given to the resource Effects of Advertising on Sales: the Evidence from Bosnia and Herzegovina Author Author KUTAY TINMAZ, Cemil ÖZTÜRK, Elif Abstract A summary of the resource. This paper, presents effects of advertising on sales. As it is known, advertising is most important term to sell specific products. Firstly, the meaning of advertising is explained in this study. In addition to the explanations, advantages and disadvantages of advertising are investigated. There are also general definitions to underline the importance of advertising. Moreover, survey technique is explored in this study. Also, effects of advertising on sales are illustrated by graphs according to the findings of that survey. Additionally, this study includes explanations of all effects that are occurred by the research. As a result of this study, there are positive effects of advertising on sales. Keywords: Advertising, Effect of Advertising, Sales. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/3d9714e87833183418b6372fbb76c79a.pdf 35cbc570b58d7bd26949b04c8d321cf6 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Relationship between Human Capital and Economic Growth in Post-1980 Period in Turkish Economy Ünzüle Kurt Ardahan University, Ardahan, Turkey unzulekurt17@gmail.com Endogenous growth theory is based on the idea that there are some factors in the growth process in economies that cannot be explained with human capital. Endogenous growth theory developed by Romer, contrary to the neo-classical growth theories explaining the economic growth with physical production factors, discusses that the human capital has an important place among the dynamics of economic growth. In the study, human capital factor, having a significant place in the growth process of today’s economies, is discussed as a human development index, and its effect on growth rate is analyzed for the period 1980-2011. According to the results of the analysis, a cointegration relationship was detected to be present between human development index and growth rate; however, no causality relationship was observed in the short term. Keywords: Endogenous Growth Theory, Human Capital, Economic Growth. 271 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1666 Title A name given to the resource The Relationship between Human Capital and Economic Growth in Post-1980 Period in Turkish Economy Author Author KURT, Unzule Abstract A summary of the resource. Endogenous growth theory is based on the idea that there are some factors in the growth process in economies that cannot be explained with human capital. Endogenous growth theory developed by Romer, contrary to the neo-classical growth theories explaining the economic growth with physical production factors, discusses that the human capital has an important place among the dynamics of economic growth. In the study, human capital factor, having a significant place in the growth process of today’s economies, is discussed as a human development index, and its effect on growth rate is analyzed for the period 1980-2011. According to the results of the analysis, a cointegration relationship was detected to be present between human development index and growth rate; however, no causality relationship was observed in the short term. Keywords: Endogenous Growth Theory, Human Capital, Economic Growth. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/2675fb8e55e2e10ea9995e47ecfe7c75.pdf 1ecb97d803c0d10a5a35460518cb71bb PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Capital Market in Bosnia and Herzegovina: Unused Potential as Alternative Source of Financing Tarik Kurbegovic Sarajevo Stock Exchange, Sarajevo, Bosnia and Herzegovina tarik.kurbegovic@sase.ba One of the most important factors of conducting business successfully and also in achieving the interests of the owner of entity is adequate structuring of source of financing of company or institution. Debt as a source of financing has its advantages in terms of potential of increasing of wealth for the owner of capital. The thing that we are speaking about is optimizing relationships of debt to ownership capital. On the other side, debt alone as source of finance can be realized on a several ways, where plenty of factors influence that choice. We mean here on financing through bank credits versus financing by emission of debt securities. The size of company or institution together with the financial system is most important factors that determine not only the way of financing through emission of debt securities but also considering it as a option or a possibility. In the past few years in B&H the possibility of finance big infrastructural projects through emission of debt securities has been often mentioned. Until now neither one of these projects has been financed in this way. About this problematic can be spoken from many aspects such as: strategic decisions, limits concerning budget deficit, technical conductions, efficient managing of public debt and so further. If it is about financing of corridor 5C or about financing infrastructural projects on the local level, bank loans determine the way of financing in Bosnia. In most case these loans are offered by international finance institutions or some countries. On the other side by emission of bonds issued either by state/entity or more concrete public company „Autoceste FBiH“, the state itself would become investor. Thus the state, entity, municipality and citizens instead of trading with bonds that are used with aim to cover budget deficits can be used for infrastructural projects and development. These are the facts that we want to consider when we speak about capital market as alternative source of financing trying to reach what are the advantages and disadvantages of emission of debt securities, what are the possibilities, techniques and benefits of financing of infrastructural projects through bonds. Keywords: Capital Market, Debt Securities, Bonds, Alternative Financing. 265 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1590 Title A name given to the resource Capital Market in Bosnia and Herzegovina: Unused Potential as Alternative Source of Financing Author Author KURBEGOVIC, Tarik Abstract A summary of the resource. One of the most important factors of conducting business successfully and also in achieving the interests of the owner of entity is adequate structuring of source of financing of company or institution. Debt as a source of financing has its advantages in terms of potential of increasing of wealth for the owner of capital. The thing that we are speaking about is optimizing relationships of debt to ownership capital. On the other side, debt alone as source of finance can be realized on a several ways, where plenty of factors influence that choice. We mean here on financing through bank credits versus financing by emission of debt securities. The size of company or institution together with the financial system is most important factors that determine not only the way of financing through emission of debt securities but also considering it as a option or a possibility. In the past few years in B&H the possibility of finance big infrastructural projects through emission of debt securities has been often mentioned. Until now neither one of these projects has been financed in this way. About this problematic can be spoken from many aspects such as: strategic decisions, limits concerning budget deficit, technical conductions, efficient managing of public debt and so further. If it is about financing of corridor 5C or about financing infrastructural projects on the local level, bank loans determine the way of financing in Bosnia. In most case these loans are offered by international finance institutions or some countries. On the other side by emission of bonds issued either by state/entity or more concrete public company „Autoceste FBiH“, the state itself would become investor. Thus the state, entity, municipality and citizens instead of trading with bonds that are used with aim to cover budget deficits can be used for infrastructural projects and development. These are the facts that we want to consider when we speak about capital market as alternative source of financing trying to reach what are the advantages and disadvantages of emission of debt securities, what are the possibilities, techniques and benefits of financing of infrastructural projects through bonds. Keywords: Capital Market, Debt Securities, Bonds, Alternative Financing. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/d8d9ff775da17be7232ce64ff82dd07d.pdf 984426806807aa78b5e1c4cd8c7e0d0e PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Human Resource Management in the banking sector in Sarajevo Nerma Kulo International Burch University, Sarajevo, Bosnia and Herzegovina Erkan Ilgün International Burch University, Sarajevo, Bosnia and Herzegovina eilgun@ibu.edu.ba The aim of this paper is to highlight the importance and scientific pursuit "human side”, and the necessity of implementing the strategy of motivation to employee performance. During the last hundred years the work has been transformed from assembly line production to more creative one, where machinery took over the all repetitious and routine tasks, giving people possibillity devotion to that business process parts, which requested creativity, adaption and innovation. In that new economy the main management tasks have been completely changed. In assembly line production and „old economy“ the main management tasks were establishing of clearly defined system and as precise as possible control of that system. The main manager task in the new economy is developing potentials of every employee and choosing the right working team which will possess the optimal capability for work accomplishing. The research alone has the task to understand the relationship between institutions and employee performance. What makes some employment relationships successful, and causes others to fail? What is the role of government and the law in enhancing the performance of existing and new employment relationships? These are key questions for personnel economics. Personnel Economics analyses how to model the relationship between such psychological factors, individual workplace performance, and general labor market outcomes. Every bank and financial institution is involved in various functions in a day's job and thus requires a highly effective team and appropriate manpower to run the show. Corporate goals are translated into viable realities and profits only with human element who play their due role in achieving the desired results. An important reason for the need of designing work motivation is the need for understanding the mechanisms of behavior as a basis for the system to motivate. One of the key strategic task managers today becomes effective management of human resources in the context of the construction of a coherent system of motivation.Keywords: Discrete Time, the Vasicek Model, Interest Rate. Keywords: Personnel Economics, Motivation, Employee Performance, Motivation Strategy, Employment Relationships. 223 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1617 Title A name given to the resource Human Resource Management in the banking sector in Sarajevo Author Author KULO, Nerma ILGÜN, Erkan Abstract A summary of the resource. The aim of this paper is to highlight the importance and scientific pursuit "human side”, and the necessity of implementing the strategy of motivation to employee performance. During the last hundred years the work has been transformed from assembly line production to more creative one, where machinery took over the all repetitious and routine tasks, giving people possibillity devotion to that business process parts, which requested creativity, adaption and innovation. In that new economy the main management tasks have been completely changed. In assembly line production and „old economy“ the main management tasks were establishing of clearly defined system and as precise as possible control of that system. The main manager task in the new economy is developing potentials of every employee and choosing the right working team which will possess the optimal capability for work accomplishing. The research alone has the task to understand the relationship between institutions and employee performance. What makes some employment relationships successful, and causes others to fail? What is the role of government and the law in enhancing the performance of existing and new employment relationships? These are key questions for personnel economics. Personnel Economics analyses how to model the relationship between such psychological factors, individual workplace performance, and general labor market outcomes. Every bank and financial institution is involved in various functions in a day's job and thus requires a highly effective team and appropriate manpower to run the show. Corporate goals are translated into viable realities and profits only with human element who play their due role in achieving the desired results. An important reason for the need of designing work motivation is the need for understanding the mechanisms of behavior as a basis for the system to motivate. One of the key strategic task managers today becomes effective management of human resources in the context of the construction of a coherent system of motivation.Keywords: Discrete Time, the Vasicek Model, Interest Rate. Keywords: Personnel Economics, Motivation, Employee Performance, Motivation Strategy, Employment Relationships. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/aa644292d8dbd7f6008b992dc222f6c6.pdf 218b427516ed74fc8aafdcebbca1c037 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo ICT Use in Small and Medium Enterprises for Development in Vlora Region Ermelinda Kordha University “Ismail Qemali”, Vlore, Albania ermes.k@gmail.com Gorica Klodiana University of Tirana, Tirana, Albania klodi_gorica@yahoo.com Fioralba Vela University “Ismail Qemali”, Vlore, Albania fiorivela@yahoo.it Brokaj Rezarta University “Ismail Qemali”, Vlore, Albania rezartab@gmail.com Republic of Albania, in its efforts to build a sustainable growth of the country and the region, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society. According to the strategy document for ICT 2007-2013, a document of Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also private sector and businesses. Implementation, on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. 106 �International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study will include surveys through structured questionnaires, to identify some very important aspects of ICT use in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the value chain between clients and suppliers, small number of operation abroad and types of sectors most developed in the region create some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solution recommended for the relatively low level of ICT use in the region. Keywords: ICT Use, SME, Businesses, Economic Sector, Clients, Suppliers, Effective Operations, Vlora Region. 107 � https://omeka.ibu.edu.ba/files/original/6006075c0f26b172d810166a9396a78d.docx 4c66112fd2f0f7279613d253b9797c77 https://omeka.ibu.edu.ba/files/original/c86276f257ecfbb5873b9f4e0542b90d.pdf db723dab3be922f29141aadad873f8c6 PDF Text Text International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo ICT use in Small and Medium Enterprises for development in Vlora region Ermelinda Kordha University “Ismail Qemali”, Vlore, Albania ermes.k@gmail.com Gorica Klodiana University of Tirana,Tirana, Albania klodi_gorica@yahoo.com Fioralba Vela University “Ismail Qemali”, Vlore, Albania fiorivela@yahoo.it Brokaj Rezarta University “Ismail Qemali”, Vlore, Albania rezartab@gmail.com Abstract Republic of Albania, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society, in order to build a sustainable growth in the regional context. According to the strategy document for ICT 2007-2013, a document of the Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also the private sector and businesses. Implementation , on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by the orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study willincludesurveysthroughstructuredquestionnaires, to identify some very important aspects ofICTuse in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the 1 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo value chain between clients and suppliers , a small number of operations abroad and types of sectors most developed in the region creates some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solutionsrecommended for the relatively low level of ICT use in the region. Keywords: ICT use, SME, businesses, economic sector, clients, suppliers, effective operations, Vlora region. Introduction Starting a business in today's environment brings opportunities and challenges. Changing lifestyles demand greater choice of products and services. New technologies and greater access to global markets have provided increased business opportunities. At the same time increased competition, insistence on quality and unremitting pressure for lower costs, just to mention some issues, represent major challenges for business. For Small and Mediumsized Enterprises (SMEs) the challenge is greater. They lack scale, resources and the capacity to handle complex business management. Typically, less than half survive more than five years and only a small proportion go on to become large companies. Entrepreneurship and enterprise development are important elements in creating dynamic market economies. SMEs is a vital source of new jobs, exports and economic contribution to the countries. How to ensure the growth of the SME sector - a fundamental feature of all developments and growing economies - is a major policy challenge for all countries. Literature review Entrepreneurship can take many forms and can be defined in many ways. In our paper we focus on entrepreneurship as it takes place in small and medium size enterprises (SMEs) since the two are often found to be closely related. As noted ‘Small firms are the vehicle in which entrepreneurship thrives (Wennekers and Thurik, 1999).In the last ten years, governments in the transition countries have introduced a number of policies aiming to promote entrepreneurship through SME development, since SMEs compose a very large part of enterprises in these countries. Limited access to finance, a low degree of professionalism, difficulties in recruiting qualified personnel, depending on clients and suppliers and the absence of economies of scale are identified as the core SME sector weaknesses and the main areas where SMEs may require special attention (Burns, 2001). A number of authors have identified the distinct characteristics of entrepreneurship and SME activities in transition countries where the environment is undergoing quite dramatic changes (Dallago, 1997; Scase, 2000; Chilosi, 2001; Smallbone & Welter, 2001; Aidis, 2006). Though it is often argued that SME development is especially crucial for the early phases of transition (EBRD, 1995; Smallbone and Welter, 2001), it is, in fact, just as important for the advanced stages of post-transition. As M. Porter (1990) has argued, invention and entrepreneurship are at the heart of national advantage and country competitiveness. So the new technologies may be an important aspect to be focused on the efforts for developing the SME sector for the purpose of development. In this context, SME usage of ICT ranges from basic technology such as radio and fixed lines to more advanced 2 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo technology such as email, e-commerce, and information processing systems. Using advanced ICT to improve business processes falls into the category of e-business.However, not all SMEs need to use ICT to the same degree of complexity. The first ICT tool that most SMEs adopt is having basic communications with a fixed line or mobile phone, whichever is more economical or most convenient for their business. This allows the SME to communicate Like any firm, an SME decides which type of ICT products to adopt based on the concrete benefits they can bring to its core business, the ICT capacity of its employees, and the financial resources available. Most people are familiar with basic ICT such as fixed phone lines, mobile phones, fax, computers, and basic document processing software – like Microsoft Office. Advanced communication technology, however, is more complex. Advanced communication technology relies primarily on the Internet and the intranet, which allow people within the firm to share files with each other over the same network. Having an Internet connectivity enables firms to do faster research, set up websites, conduct e-commerce, and set up video conferences. One of the most revolutionizing developments in advanced communication technology is Voice over Internet Protocol (VoIP). Methodology of the study The results of this study are based on a research survey of 141 SME-s in Vlora region classified according to revenues. The methodology included a stratified random sampling of 141 out of 784 companies in the region requiring the regulated factor of a finite population for the sample size. The interviews were administered as face to face interviews with the study group in a period from May till September 2012.Some of the difficulties encountered in the field interviews were resolved with a fulfillment of the sample with a judgment sample of some bigger companies according to revenues and classification in tax payment. Albanian general situation Actual statistics of enterprises in Albania, measured by INSTAT intended to representthe structure ofeconomicactivitiesthrougheconomicindicators. Data show that - Enterprises with 20 or more employees dominate the economy, from the point of view of number of employees and also turnover and investments. In 2010, there were 75.4 thousand enterprises where 1666 are with 20 and more employees. These big enterprises employ about 46 percent of the employed of the country, while they have also achieved 60 per cent of the turnover and 71 per cent of the investment. On the other hand, small and medium-sized enterprises (SMEs) have a crucial role in the transition process. SMEs already makes up the vast majority of private businesses operating in Albania. Enterprises with 1-4employeesoccupy91percentofenterprises, achieving 17percentof turnover. Small enterprises arethe dominantproducers ofservices. Because of their size and adaptability they are likely to be the main source of employment generation in the future. As in mature market economies, a vibrant SME sector will eventually become not only a provider of employment, but also a key source of innovation, entrepreneurship and productivity growth. For these reasons, improving the business environment for SME development is a key objective of the policy framework in Albania. The Albanian authorities are increasing the support given to the SME sector, in recognition of the growing importance ofSMEs to the national economy. This political support is manifested in developments such as: • The approval of a medium term-strategy for SME development. 3 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo • The efforts to improve the legal and institutional framework for the business sector. • The efforts to create a Small Business Development Agency. Substantial emphasis on performance assessments has been placed in eliciting the views of private SMEs on their past experience and perception of the key barriers to business and new investment, and their assessment of progress in implementing policies to encourage the development of SMEs. Part of this improvement, according to national strategies is also the involvement of ICT use in their business processes. One of the greatest projects involving SME and the use of technology is SME training for ICT user. SMEs can benefit either as producers of ICT or as users of ICT for purposes such as increased productivity, faster communications and reaching new clients. However, it must be noted at the outset that not all SMEs need to adopt ICT tools to the same degree of sophistication. The most basic ICT tool is having communication capabilities through fixed lines or mobile phones, whichever is more cost effective. SMEs may then use a personal computer (PC) with basic software for simple information processing needs such as producing text or keeping track of accounting items. Internet access enables SMEs to have advanced communication capabilities such as email, web browsing and launching a website. SMEs in manufacturing can benefit from more advanced ICT tools such as Enterprise Resource Planning (ERP) or inventory management. SME IN VLORA REGION Whereas the majority of the region‘s enterprises (95 percent of the overall number) are small ones with just 1-5 employees and only the remaining 5 percent employ more than 6 employees. Although there are only a few large companies with over 80 employees, they actually employ 26,5 percent of the overall number of employees working in the region‘s active enterprises. More people are employed in production, trade and service enterprises. Table 2.2 below provides information about the active enterprises in the Region of Vlora. Survey results This study is focusedon the actual and potential use of Information and communication Technologies, ICT). The goal is to study the use of the businesses, especially the Small and Medium Enterprises, SME, since it is considered from a lot of authors in the field, as well as from the directives of European Union Projects, that ICT is a powerful engine for economic development in the region and in the local level. The strategy of the study, includes the survey through structured questionnaires, to identify the demand aspects of ICT. The users are businesses and the interviewee, managers and owners of 127 SME-s are selected through a probability sample methodology, explained thoroughly in the Anex 1. Even though , during the implementation it is combined for the sake of the important information missing, with a judge methodology in only 15% of the cases. DESCRIPTIVE STATISTICS It is easily seenthatthe types ofactivitiesof companies thatare partof the study aremainlyinthe trade and servicessector, reflecting the distributionof businessesand companiesin our country. 4 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Figure 1 Percentage of companies according to sector Type of activity 5% 6% Tourism 10% Services 36% 39% Gambeling Trade (industrial goods and food) 4% Somebusiness characteristicsdirectlyreflect their conditionsfor ICT use. Thus, participation in agroup, having a network of suppliersor certification, are characteristicsthat createconditionsfor theneed anddemandby the companiestouse, not justcomputersandICTequipment, but also for elements of Information systems, such as databases, telecommunication networks, Electronic Data Interchange and e-commerce technologies Fig 2 shows that companies that are part of a group are in a small number, implying that these companies may not demand for ICT in the near future. The data about local network of suppliers, on the other hand, show that 59% of the businesses are part of such a network, so they can build further relationships with their network, using the benefits that offer Information Systems. Figure 2 Characteristics relied to conditions for ICT use. 1% Companies that are part of a group 7% Yes No No answer 92% Local network of suppliers 2% Yes 39% 59% No No answer 5 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo The study has shown a high nonresponse rate in most of the questions that have sensitive information, such as the time of creation and declaration of yearly revenues. It remains clear the problem that businesses have with giving information because of lack of confidence in different state institutions, including research studies. In relation with the demand trend for product/services of the companies interviewed, 45% of the companies declare that their demand is stable, 33% have experienced a declining demand, while only 20% declare rising demand for their product/services. Figure 3 Demand for products/services of businesses Past demand for products/services 2% 33% Raising 20% Stable 45% Declining No answer GENERAL INDICATORS Animportant indicator forthe use oftechnologyin organizationsis the number ofcomputers.Infactfrom the questionnaire wecan seethe percentage of theorganizations that haveat least one computer, and aswe seethe percentageis higher, but notvery satisfying. About75% of companies haveat least onecomputerormany devices,from whichonly61% have PCs,only25% have notechnology. We seethatthe basictechnologyis widespreadin organizations. But what comes next, since the numberof computers isonlyan initial indication. Secondlyaboutthe varietyofICTequipment, we see that the numbersare deluded, 4% have aninternalserver(i.e.Usenetworking) and2% have iPhones, technologies that today is used from companies in very modern networks, called cloud computing . Only 1% have other technologies, such as notebook, netbook, etc. Figure 4 Companies according to type of ICT devices used Type of ICT devices PC 25% 2% 1% 1% 4% Workstation 61% Netbook Internal server 1% Smartphones 5% 6 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo TypesofInternetconnectionsare also anindicator oftechnologicaldevelopmentand the needforcommunication andfast dataexchange. In fact they are an indicator for quality of service provided and the type of activities that are supported from these connections. Figure5 shows that the companieseitherhave noInternetconnection, 36%, orhave some connection type with satisfactoryspeed levels suchasADSLservices, used in51% of cases.Broadband technology, which hasthegreaterspeed, assuring so the quality of connection,is far fromwidespread.A small part of companiesstillconnectedthrough the modem. Figure 5 Companies according to type of Internet connection Type of Internet connection 2% Broadband ADSL 36% DSL 51% Modem Cell phone 2% Don't know 1% No Internet connection 5% 3% Networking technologiesare animportantindicatorwhen consideringnot just the spread ofICTin organizations, butthefullexploitationofICT toimpact thebusiness processesanddecision making.Here youcan see thatAlbanianbusinesseshave not yet joinedthese levels, because66% of the respondentsdo nothavetechnologies that usenetwork connections. Figure 6 Network Technologies used by businesses Type of technology (network) used Web phone-calls 17% Intranet 10% 66% 0% Extranet 2% Virtual Private Network 5% SAAS No Technology 7 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Another element ofthe use oftechnology inorder to increase theproductivityofthe company'sactivitiesisthe Website.Today, thistechnologicaltoolisusednotsimplyandsolely forinformationandpromotionof the company, butlargelyfor the realization ofbusiness transactions, saving time, energy andbureaucracyin theprocess. Even in this case,there is anabsence. The percentage ofcompanies witha website is verysmall comparedwith the standards ofcompaniesin developed countries. Only15% of the interviewed companieshave aWebsite.Thisis a figurein factthat has changedcompared withthe first phase ofthe study,where the percentage ofsurveyedcompanieswith Website wasgreater. In the second phase, the overall sample includes companies with a year revenue that categorizes them in the big business, but their activities are mainly manufacturing businesses,oreven tradeproductsthat do notdevelopthistypeofelectroniccommerceandfocuson the demandmainlyindomesticmarkets. Their activities include onlyimport of productsor raw materials from foreign markets. If companies target the global marketplace and seek to enlarge their activities, there are opportunities to use technology through the newest modelsofelectronic business. Eventhose companiesthat have a Web site, use it inmost ofthe casesforpromotionand only2of themforonlinetransactions. Figure 7 Percentage of companies with Website Companies with Web site 15% Yes 85% No Figure 8 Companies using specific software to support their business processes Business processes using specific software 1% Accounting 6% 14% 15% 5% 8% 12% Management control Staff management Purchase management 20% 7% 7% 5% Operations management Production technology Inventory management Shipments 0% 8 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo In relationwiththe use ofspecificsoftware to support business processes, we can saythatthe small percentage ofcompanies which are included, use them mostly forthe management ofpurchases andsales and less forfunctions likeaccountingandstaffmanagement. Functionssuch as productionand operations do not use technology. Opportunities for future use of ICT Finally, despite the current low or high levels of different ICT, we asked about the interviewed perceptions of the ICT value in different company activities.. They do not consider technology as very important, in any of the activities. The largest impact is estimated to be in the work efficiencies and reporting and control, while that's somewhat less in the image and still less in cost. Figure 9 The perceptions on ICT importance in business Importance of ICT in company operations ICT impact on costs ICT Impact on image Importance of Web-site Reporting and monitoring Labour eficency 0 0.5 1 1.5 2 2.5 3 3.5 4 These responses reaffirm that the stage of using ICT is low because such is the perception on the value it has in the company. CONCLUSIONS AND RECCOMMENDATIONS Despitethe challengesfacingAlbaniaandother developingcountries, computertechnologiesandotherICTshaveatremendous potentialtohelp overcomethem.Thisrequires notonlypublic sectorleadership, but also private sector commitment. Vlora region, as one of the biggest region in the country has lately experienced economic development through some very important sectors in the economy such as Agriculture, Tourism, Fishing, Trade of commercial goods. Vlora region supports its economic development through the management of a lot of natural and cultural resources and heritage. Since SMEs constitute a very important part of the economy, from the viewpoint of the number of enterprises, but also from the perspective of future developments, this study tried to give the state of the art in regard of ICT spread and use within SMEs. a. The greatest percentage of SMEs is part of trade, service and tourism sectors. The recommendation here is the incitement of specific software 9 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo use, since these sectors, especially tourism, depend on the good management of natural, cultural and human resources. b. A very small part of companies are part of a group or have certifications for their products, while a bigger number are part of a network of suppliers. It is very important in this aspect, to incite SMEs for using the local suppliers and for creating long-term relationships through ICT use, for communication and data sharing through e-mail or Internet. 2. Types of technologies used are below the desired and appropriate level. Most of the companies have only PCs, and a relatively high percentage does not use any devices. They have Internet connections with ADSL services and their mobile devices, but there are still businesses that connect through a modem. a. The actual spread of computers and technology should be the beginningof a more planned and useful approach to businesses, especially thinking of their shortages or problems. b. Encouriging the use of services of SMEs and companies in ICT sector such as outsourcing companies will, not only help the proper development of Information Systems and ICTs inside other sectors, but will help in the development of the ICT sector itself in Vlora region. c. Using social networks or other Internet platforms, as a tool for getting clients or serving them better will help SMEs-s especially those in the service sector and tourism. Appropriate use for business must bring more revenues by satisfied clients as well as by more clients or more expensesto the company. References Aidis, R. (2006), Laws and Customs: Entrepreneurship, Institutions and Gender During Transition. SSEES Occasional Series, University College London, London. Aidis and Sauka, Enterpreneurship in a changing environment: Analyzing impact of transitional stages on SME development, Inter-RENT online publication, 2005. Burns, P. (2001), Entrepreneurship and Small Business. Palgrave Macmillan. Chacko J. G. ICT, SMEs and business development UNDP-APDIP, National Workshop on Capacity Building in Public Policy issues of Internet Use for Business Development in Asia and the Pacific, 15-16 August 2007, Phnom Penh, Cambodia Chilosi, A. (2001), Entrepreneurship and Transition. MOST 11:327 –357. Dallago, B. (1997), The Economic System, Transition and Opportunities for Entrepreneurship. Chapter 7, pp. 103-124 in Entrepreneurship and SMEs in Transition Economies, The Visegrad Conference. Paris: OECD. Wennekers, S. & Thurik, R. (1999), Linking Entrepreneurship and Economic Growth. Small Business Economics 13:27-55. 10 �International Conference on Economic and Social Studies (ICESoS’13), 10-11 May, 2013, Sarajevo Smallbone, D. & Welter, F. (2001), The Distinctiveness of Entrepreneurship in Transition Economies. Small Business Economics 16:249-62. 11 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1531 Title A name given to the resource ICT Use in Small and Medium Enterprises for Development in Vlora Region Author Author KORDHA, Ermelinda KLODIANA, Gorica VELA, Fioralba REZARTA, Brokaj Abstract A summary of the resource. Republic of Albania, in its efforts to build a sustainable growth of the country and the region, considers information and communication technologies, (hereafter named ICT), as an essential tool with a major impact in terms of building the information society. According to the strategy document for ICT 2007-2013, a document of Albanian government, ICT should be used in all business sectors as transport, tourism, agriculture, environment, leisure, culture, etc. and to contribute to the entire population. Despite the challenges facing Albania and other developing countries, computers and other ICTs have tremendous potential to help overcome them. This requires not only public sector leadership, but also private sector engagement. The strategy implementation in Albania has included different actions regarding not only central and local administration, but also private sector and businesses. Implementation, on the other hand must be supported by regional and local level strategies and action. In this context, the Pitagora project is one of the projects undertaken by different actors in Albania and especially in Vlora Region to study the current use and future possibilities of using ICT in Vlora Region. The purpose of this study is to focus on the use by businesses, especially small and medium-sized businesses, SMEs, given that ICT is considered by many authors as well as by orientations of the European Union, a powerful engine for regional and local economic development. On the other hand, as indicated above, the strategy of the study will include surveys through structured questionnaires, to identify some very important aspects of ICT use in SMEs. The important indicators included in the survey are general data bout SME in the region, and the ICT presence within organizations as well as ICT use, in the light of their importance for regional development. As the analyses show, the characteristics of SME and their business operations affect the use of ICTs in this region. In fact, the low level of cooperation in the value chain between clients and suppliers, small number of operation abroad and types of sectors most developed in the region create some opportunities for ICT use but also some challenges. The use of specific software and the depth of use in ICT are some of the solution recommended for the relatively low level of ICT use in the region. Keywords: ICT Use, SME, Businesses, Economic Sector, Clients, Suppliers, Effective Operations, Vlora Region. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 978-9958-834-23-3 https://omeka.ibu.edu.ba/files/original/c026dd40ad4cb47c62c58ef8d1aba715.pdf bfc9acc18d39e354562f203050e0db45 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis Gelengül Kocaslan İstanbul University, İstanbul, Turkey kocaslan@İstanbul.edu.tr Oguzhan Özçelebi İstanbul University, İstanbul, Turkey ogozc@İstanbul.edu.tr Suna Muğan Ertugral İstanbul University, İstanbul, Turkey mugan@İstanbul.edu.tr Statistics of Central Bank of Turkey and World Bank provide evidence for the fact that the volume of trade of Turkey with Bulgaria, Romania and Greece may have a positive effect on Turkey’s Economy even under the circumstances of the recent financial crises. Thus, it is important to analyze the impacts of foreign trade volume of Turkey with Bulgaria, Romania and Greece on the real economic activity in Turkey. In this respect, we used time series techniques to make inferences about the possible consequences of regional economic integration. Empirical findings reveal that Turkey may benefit from a regional economic integration between these Balkan Countries. Keywords: Regional Economic Integrations, Balkan Countries, Causality Analysis. JEL Codes: F10, F14, F15. 126 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1540 Title A name given to the resource Is a Regional Agreement among Balkan Countries Applicable? A Time Series Analysis Author Author KOCASLAN, Gelengul OZCELEBI, Oguzhan MUGAN ERTUGRUL, Suna Abstract A summary of the resource. Statistics of Central Bank of Turkey and World Bank provide evidence for the fact that the volume of trade of Turkey with Bulgaria, Romania and Greece may have a positive effect on Turkey’s Economy even under the circumstances of the recent financial crises. Thus, it is important to analyze the impacts of foreign trade volume of Turkey with Bulgaria, Romania and Greece on the real economic activity in Turkey. In this respect, we used time series techniques to make inferences about the possible consequences of regional economic integration. Empirical findings reveal that Turkey may benefit from a regional economic integration between these Balkan Countries. Keywords: Regional Economic Integrations, Balkan Countries, Causality Analysis. JEL Codes: F10, F14, F15. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564