{"title":"Correlation Between Training and Education of Human Resources and Business Performance of Small and Medium Enterprises","authors":"Iva Klepić","doi":"10.2478/ngoe-2021-0013","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0013","url":null,"abstract":"Abstract Human resources (HR) represent a crucial resource of enterprises. This especially applies to small and medium-sized enterprises (SMEs), in which HR can create a competitive advantage and affect survival and development. Changes in the business environment, the need for new knowledge, skills and abilities due to changes in the market and business all lead to widening the gap between existing and required competencies of employees. In the process of training and education of HR, employees acquire the necessary knowledge, refine their skills and/or acquire new skills, and experience. More to the point, they obtain the competencies they need to stay and/or become successful in their job and future jobs that they will perform in the enterprise. The principal aim of this research is to determine the correlation between training and education of HR and business performance of SMEs. The survey was conducted in SMEs in the Federation of B&H from August to September 2020. An original questionnaire was created for the research, used for collecting the views on the HR training and education of top managers as well as four business performance perspectives of companies based on the Balanced Scorecard model. Data were analysed using SPSS 20.0. The following were used from the statistical procedures: Pearson’s coefficient of correlation, t-test for independent samples, Spearman’s correlation of coefficient and Mann-Whitney U test (depending on the results distribution). The results of the survey showed that there is a correlation between training and education of HR and business performance in SMEs. In addition, the survey results indicated differences among the enterprises in terms of their size; i.e., between small and medium-sized enterprises. However, those differences are not statistically significant.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121767800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Scientific Impact of Central and Eastern European Higher Education Lecturers","authors":"Domagoj Sajter","doi":"10.2478/ngoe-2021-0014","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0014","url":null,"abstract":"Abstract The purpose of this paper is to obtain and analyse data on the higher education lecturers at the 16 largest, state-owned faculties of economics in seven central and eastern European countries (Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, North Macedonia, Serbia, and Slovenia), about their scientific impact and reach. An analysis of their research areas and scientometrics (citations, h-indices) was performed, and aggregate rankings are presented. Data was collected from Google Scholar, Web of Science and Scopus by using proprietary specialized web crawlers (“bots”). The differences among countries and faculties are significant, and institutions should observe good practices from Slovenia, as its faculties are ranked highest. The insights are important for evaluating scientific progress, mobility, and cooperation, rewarding and promotion requirements, accreditations, project and institution funding, and higher education lecturers’ promotion.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"64 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129308964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
J. Forrest, Zaiwu Gong, Erkan Köse, Diane D. Galbraith, O. A. Arık
{"title":"An Economy’s Emergent Properties and How Micro Agents with Inconsistent or Conflicting Interests Are Holistically Organized into Macro Entities","authors":"J. Forrest, Zaiwu Gong, Erkan Köse, Diane D. Galbraith, O. A. Arık","doi":"10.2478/ngoe-2021-0017","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0017","url":null,"abstract":"Abstract The existing literature documents that computer simulations can reveal how characteristics of micro-level individuals give rise to macro-level phenomena of systemic wholes. This paper seeks to establish such an important simulation-based observation as a theoretical result on a sound foundation. Going beyond addressing when holistic phenomena can naturally emerge from micro-level characteristics, this paper investigates how and why many macro-level entities appear to answer market calls through organically gathering micro-level agents into uniformly-oriented operational wholes, even though these agents have inconsistent or even conflicting interests. This paper develops conclusions based on results of systems science and establishes a sufficient condition under which characteristics of micro-level agents can naturally lead to the appearance of macro-level properties of a systemic whole even though the former are heterogeneous and behave in an unintended and uncoordinated manner. This paper suggests to root each theoretical result of economics on elementary facts of personal belief-value systems and expands methods of networks and computer simulations to those of systems science. It explains when macro socioeconomic phenomena emerge out of unintended and uncoordinated actions and interactions of micro economic men, and provides a more general approach for developing reliable conclusions than those observed from computer simulations. It additionally derives conditions for when macro-level economic entities appear to answer market calls and how micro-level individuals with inconsistent or even conflicting interests can be organically congregated into operational business organizations.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114409817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Performance in B2B Sales: An Explanation of How Channel Management and Communication Influence a Firm’s Performance","authors":"Maier Günther","doi":"10.2478/ngoe-2021-0016","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0016","url":null,"abstract":"Abstract Communication between seller and buyer is done through multiple channels. There are multiple ways to use technical media and channel selection to create more information, but does this lead to a better performance of a firm? Research on the impact of different marketing channels in the industry regarding performance factors remains scarce. The performance of a firm is the most significant factor and will be monitored through different attributes. The purpose of this paper is to review the drivers of a sales process in terms of sales cycles, channels and communication in relation to it’s effect on performance. Beyond the characteristics of sales the review delineates the changes from the past to the present. The contribution of this review is to understand the various capabilities in channel management and communication that can be adapted to the sales process and increase a firm’s performance.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122750107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Organizational Factors of Innovativeness in Serbian Enterprises","authors":"Goran Pitić, Aleksandar Vučković","doi":"10.2478/ngoe-2021-0009","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0009","url":null,"abstract":"Abstract This paper analyses correlations between several organizational characteristics and product/process innovations in enterprises in Serbia. We used the World Bank Enterprise Survey data on 339 small, medium, and large companies from various industries. Many of the factors analysed in this study are consistent with theoretical conclusions in the literature on this topic and relate to organizational maturity. Also, factors such as the size of the company and the industry to which it belongs were analysed. For correlations testing, the Chi-square correlation coefficient and the Cramer’s V test were used. The analysis revealed correlations between innovativeness and many organizational characteristics. However, in some cases, contrary to theoretical claims, correlations were not confirmed. We found that the introduction of new products and/or processes in the company is influenced by business strategy, production targets, number of performance indicators monitored, establishment of quality management system, formal training programs for company’s full-time employees, ease of achieving the company’s production targets, level of awareness of management and employees about the company’s production targets, spending on research and development activities within the company, and acquisition of external knowledge, way of promoting non-managers in a company, time frame of the company’s production targets, company’s size and main market.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"30 16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127649245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sustainable Transport of Goods Using Combined Transport Solutions: The Case of EU","authors":"M. Minárik","doi":"10.2478/ngoe-2021-0010","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0010","url":null,"abstract":"Abstract This paper analyzes the importance of bimodal solutions in the rail-road transport of goods with an emphasis on the aspect of ecology within the geographical region of EU-28. Using the panel regression analysis in the period from 2010 to 2019, we are trying to confirm the dependence between the road and rail transport of goods by applying several freight units’ measures: the freight transport performance in tonne-kilometres, the freight transport performance in tonne-kilometres per thousand of USD, and the amount of goods transported in thousands of tonnes. The application of data to all selected freight units’ measures in the regression models confirms a relationship between road and rail transport. A direct relationship between these two modes of transport confirms the complementarity effect, which means that, in most cases, the goods transport solutions require the combination of road and rail mode, where the railway should be considered as the main transport/carrier, the road transport, however, should have the role of short pre-transport or post-transport. The ecological aspect of such bimodal solutions can also be emphasized since the railway transport is considered as an ecological mode.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124887432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The European Social Fund Supports the Reintegration of the Long-term Unemployed Individuals Aged 50+ Into the Labor Market - A Comparison of the Federal States in Austria","authors":"Azra Kadri, V. Bobek, T. Horvat","doi":"10.2478/ngoe-2021-0012","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0012","url":null,"abstract":"Abstract This paper shows the importance of European Social Fund’s (ESF) countermeasures for reintegrating long-term unemployed persons aged 50+ in Austria since their number has increased in recent years. Four research questions are defined, which deal with the theoretical background, the ESF’s contribution, the possible causes of long-term unemployment, and their reflection in a country comparison figures. For the qualitative methodology, we conducted expert interviews and case study analysis. Concerning the quantitative method, we evaluated raw data from the AMS Public Employment Service, Austria, and Statistics, Austria. A correlation was established based on the content-related evaluation of the theoretical approaches, the expert analysis, and the presentation of statistics. It is necessary to identify the causes in time and take appropriate measures to prevent them from combating long-term unemployment among this target group.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127630457","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Market Efficiency of Euro Exchange Rates and Trading Strategies","authors":"Mile Bošnjak, I. Novak, Davor Vlajcic","doi":"10.2478/ngoe-2021-0008","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0008","url":null,"abstract":"Abstract This paper tests the hypothesis on market efficiency for returns on the euro against fifteen currencies while assuming predictability of returns, dependent on the sign and magnitude of endogenous shocks. Considering the properties of exchange rate returns, the quantile autoregression approach was selected in empirical analysis. Based on the research data sample, consisting of daily exchange rates between January first, 1999, and April thirty, 2020, the paper suggests profitable trading strategies depending on a currency pair. In the case of six out of fifteen currency pairs, exchange rate returns were found non-predictable or almost non-predictable. In the case of nine considered currency pairs, there was a significant linkage between current and past exchange rate returns, found as dependent on the sign and magnitude of endogenous shocks in exchange rate returns. Finally, the paper considered possible factors of inefficiency and suggested further research of the topic.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134017226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Challenges of the Output-Employment Growth Imbalance in Transition Economies","authors":"Vladimir Mihajlović, Gordana Marjanović","doi":"10.2478/ngoe-2021-0007","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0007","url":null,"abstract":"Abstract The trade-off between output and unemployment has become an essential part of modern macroeconomics and is known as Okun’s law. However, in transition and emerging markets economies’ context, the output-employment nexus has a much more important role as these countries strive to significantly improve the growth dynamics of both variables. This paper aims to analyze the particularities of this relationship in selected Central- and South-Eastern European transition (and former transition) countries to find out a discrepancy between the output and employment growth. Therefore, the employment elasticity coefficients are calculated. The estimated results suggest that, in the observed period, economic growth has not contributed to satisfactory employment growth, which is commonly referred to as a “jobless growth” hypothesis. Accordingly, this paper attempts to single out the main challenges of the output-employment growth misbalance in these countries and propose adequate policy measures that could reduce it. The industrial policy that differentiates from the “one-size-fits-all” paradigm is emphasized as the most important part of macroeconomic policy in transition economies to make their development more balanced. Additionally, short-run stabilization policy, especially the one focused on the labour market, has a significant role in these economies.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131187254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Elderly Population and Labour Market Stabilization in Europe - The Case of Slovenia","authors":"Rasto Ovin, M. Divjak, Z. V. Cic, A. Maček","doi":"10.2478/ngoe-2021-0011","DOIUrl":"https://doi.org/10.2478/ngoe-2021-0011","url":null,"abstract":"Abstract The growing share of the retired population in Europe worsens the balance of the social costs as social consensus in most European countries rests on extensive social transfers for this population group. With its 25% share in GDP and 50% share in social transfers, the European (continental) model is indeed not sustainable when compared globally. The current prevailing model of “rejuvenation” of the labour market through immigration did not prove as a sustainable solution. The same is valid for the perspective of fast technological change. It is based on filling the labour market with low-paid jobs enabling host economies to leave aside the imperative permanent change in the labour market structure. This paper discusses the case of Slovenia and tries to search the reasons for the absence of elderly population in the labour market in this country. Based on the data comparison and disposable studies, authors try to identify the main issues when endeavouring to keep elderly population in the labour market.","PeriodicalId":228142,"journal":{"name":"Naše gospodarstvo/Our economy","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126053946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}