Faculty of Economics
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Item type:Publication, MOTIVATING GENERATION Y: WHAT MILLENNIALS NEED FOR ENHANCING WORKPLACE SATISFACTION AND PRODUCTIVITY(Journal Agriculture and Forestry, 2024-03-30); ; The issues surrounding motivation within Generation Y have emerged as profoundly significant in contemporary society, presenting complex challenges that demand careful resolution. Constructing an effective motivation system has emerged as a paramount determinant of job performance. Moreover, the recognition of motivation as a critical factor influencing overall employee engagement has gained prominence; however, it frequently lacks appropriate attention and consideration. Motivation is not a delegable concept; it does not manifest implicitly and does not inherently form a part of an employee's professional competency portfolio. This article researches the intrinsic beliefs and preferences among Generation Y members relating to their motivation, which once met will most likely subsequently contribute to heightened job satisfaction and increased organizational productivity. It delves into the motivational drivers and employs empirical methodologies to substantiate the relationship and positive influence of motivation characteristics specific to this generation on their effectiveness and efficiency. The findings offer valuable recommendations for enterprises, managers, and human resources departments aiming to explore the dimensions of motivation, job satisfaction, and interpersonal relationships within their organizations. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Antecedents and outcomes of learning from and with entrepreneurial role models: A systematic literature review(Taylor & Francis, 2025-02-05); Herzog, MichaelThe article discusses the current state of the literature on learning with and from entrepreneurial role models (ERMO) to support practitioners’ and policy makers’ capacity-building activities. Data was obtained from 42 studies on entrepreneurial learning, analyzed through a systematic literature review process. The results shows that research addresses primarily entrepreneurship education (EE) contexts, with only a few authors focusing on the postventure creation effects of entrepreneurial learning. In particular, understanding the impact of ERMO related to competencies is scarce, leaving opportunities for researchers, especially for long-term studies. Also, the role of non-formal learning after venture creation has been largely neglected in previous research. Our review provides insight into the discussion of ERMO in this context, identifies gaps, and encourages practitioners and policymakers to engage with the topic. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Employee Engagement in the Republic of North Macedonia in the Post-COVID-19 Era: Some Empirical Evidence(Association of Economists and Managers of the Balkans, 179 Ustanicka St, 11000 Belgrade, Serbia, 2025-02); The aim of the paper is to research employee engagement in the Republic of North Macedonia. To achieve this goal, the instrument for measuring organizational and job engagement developed by Saks (2006) has been used on a sample of 104 respondents. The results from the regression analysis indicate that perceived organizational support and job characteristics, as well as gender, are statistically significant predictors of organizational engagement, while job engagement can be predicted only with job characteristics. Furthermore, the results indicate that organizational engagement is statistically significantly and positively related to organizational commitment, job satisfaction, and organizational citizenship behavior, while job satisfaction is positively and statistically significantly related to organizational commitment and organizational citizenship behavior. Intentions to quit can be predicted only with organizational engagement, and as expected, this relationship is negative. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Advancing sustainable development through green finance: mechanisms, innovations, and policy implications(Institute of Knowledge Management, 2024-12-15)The global transition towards sustainable development necessitates a profound transformation in financial systems to support environmentally responsible and socially inclusive growth. Green finance, encompassing investments and financial products aimed at promoting environmental sustainability, has emerged as a pivotal instrument in achieving the objectives of the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. This paper explores the dynamic relationship between green finance and sustainable development, addressing the mechanisms through which financial innovation, regulatory frameworks, and stakeholder collaboration can accelerate progress towards a green economy. The escalating environmental challenges of climate change, resource depletion, and biodiversity loss necessitate innovative approaches to sustainable development. Green finance emerges as a critical mechanism to align economic growth with ecological stewardship by channeling financial resources into environmentally sustainable initiatives. This paper explores the transformative potential of green finance through an analysis of its mechanisms, innovations, and policy implications. It examines global trends, regional dynamics in Europe, and emerging practices in North Macedonia, offering insights into how green finance can mitigate environmental degradation while fostering economic resilience and social equity. Key instruments such as green bonds, ESG investments, and public-private partnerships are highlighted as catalysts for achieving the Sustainable Development Goals (SDGs) and the objectives of the Paris Agreement. The study also addresses critical challenges, including scalability, inclusivity, and regulatory standardization, advocating for enhanced transparency, global cooperation, and innovative policy frameworks to unlock the full potential of green finance. Through a comprehensive synthesis of practices and trends, the paper provides actionable recommendations for policymakers, investors, and stakeholders, underscoring green finance's indispensable role in advancing sustainable development globally. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, CHARTING THE TRAJECTORY OF PERFORMANCE MANAGEMENT IN TOURISM: A PRISMA-COMPLIANT SYSTEMATIC REVIEW AND VISUALIZATION OF BIBLIOGRAPHIC DATA(Faculty of Tourism and Hospitality Management, Opatija, supported by the Ministry of Science and Education of the Republic of Croatia., 2025-01); ; Purpose – Tourism was affected by recent monumental disruptions, making performance management critical for staying afloat and maximizing efficiency and workforce productivity. Thus, the purpose of this study is to synthesize the dominant performance management literature in tourism and provide a critical review and directions for future research. Methodology/Design/Approach – The authors use the Preferred Reporting Items for Systematic Review and Meta-Analysis Protocols (PRISMA)-compliant systematic literature review approach paired with visualization of relevant bibliometric data as an additional value. Findings – The review and the bibliometric analysis are based on 51 articles from peer-reviewed journals and proceedings indexed in the Scopus database. The authors present the annual publishing trends, keyword co-occurrence, and visualization analysis followed by a review of the major themes and avenues for future research, based on the topic hotspots. Research progress and key findings are presented for the identified seven themes. The findings carry implications for practitioners, tourism leaders, and the scientific community. Originality of the research – After a search query in the Scopus database, it was found that no similar study exists on the topic of interest. The study contributes to existing knowledge accumulation by analysing information relating to performance management practices in tourism. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, STUDENTS’ UNDERSTANDING OF WORKPLACE DIVERSITY: THE CASE OF REPUBLIC OF NORTH MACEDONIA(University of Nis, Serbia, 2024-12); The importance of the research on workplace diversity has significantly increased in the past few decades. Namely, as a result of the increased possibilities for working from distance and the changes in the regulations that protect the rights of the individuals and groups with different background and physical and psychological characteristics, the workplace diversity and inclusion issues become a prominent research topic in the human resource management and management literature. Therefore, the aim of this study is to investigate students’ understanding of diversity in our country, on a sample of students from the Faculty of Economics – Skopje. The need for conducting such a study in our country emanated from the fact that we live in a society where diversity issues are perceived and acknowledged. For investigating students’ understanding of diversity, we used two instruments (Reaction-to-Diversity Inventory and Workplace Diversity Survey) developed by De Meuse and Hostager (2001). The first one was used for investigating students understanding of the term workplace diversity and the second one for researching the determinants of the students’ understanding of diversity. The questionnaire was distributed electronically among students from the Faculty of Economics – Skopje, Ss. Cyril and Methodius University in Skopje. The analysis of the responses on Reaction-to-Diversity Inventory has shown that most of the students relate diversity with the term unity (47), which refers to the organizational outcomes as one of the dimensions of diversity. Besides referring to the organizational outcomes, it is important to note that unity is a term that has positive connotation. The results from the multiple regression analysis on the sample of 184 respondents, indicate that besides teachers’/professors’ engagement in educating on diversity and students’ gender, students’ academic success should be considered as a predictor of their understanding of diversity (although the statistical association of students’ grade and their understanding of diversity is statistically weaker and negative). - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Unveiling the nexus between empathy and leadership in the production sector(The Faculty of Economics - Prilep , University “St. Kliment Ohridski” – Bitola., 2024-06); Work in the production and manufacturing sector is characterized by following strict procedures, meeting norms and targets, upholding standards, and producing results and products that are entering the market. Considering these characteristics, leading people and teams in this context may pose a challenge, especially if the leaders are not aware of their emotional intelligence or, are lacking crucial social skills, thus reflecting and embedding various norms in the organizational culture. Experts have been researching organizational cultures, as well as the relationship between leadership styles and emotional intelligence, building knowledge on findings, usually following Dr. Goleman’s scholarly work. Thus, the focus of the research in this manuscript is directed toward exploiting empirical data to explore specific leadership styles in relation to emotional intelligence within a specific organizational context- the manufacturing sector. Drawing insights from 125 respondents, this research utilizes a questionnaire designed with validated research instruments. Findings reveal a strong overall correlation value between leadership styles and emotional intelligence competencies, especially emphasizing the link to transformational styles. The results reveal an interesting combination of leadership styles and emotional intelligence competencies. Namely, the commanding and visionary leadership styles emerge as the most prevalent styles, and empathy and conflict management as the only emotional intelligence competencies with an above-average value. The least mastered EI competence in the production sector is the emotional self-control, opening a field of opportunities for development and improvement. Overall, this research reaffirms the link between leadership and emotional intelligence. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Emotional intelligence building leadership perspectives in the educational sector(KNOWLEDGE – International Journal (KIJ), 2024-08-17); Education serves as the cornerstone of society, facilitating its growth and prosperity. Consequently, understanding how leadership perspectives are shaped becomes crucial. Scholars have long been fascinated by uncovering the interconnections among leadership, organizational culture, and emotional intelligence, a discussion spearheaded by Goleman. However, the persistence of traditional educational paradigms poses an additional challenge. Thus, the focus of this manuscript shifts towards leveraging empirical data to explore specific leadership styles in relation to emotional intelligence within a distinct context. Drawing insights from 110 respondents, this research utilizes a questionnaire designed with validated research instruments. Findings reveal a strong correlation between emotional intelligence and leadership styles, particularly highlighting a pronounced inclination towards transformational leadership. Notably, within the educational sector, commanding leadership emerges as the most prevalent style, followed by visionary leadership. Empathy, a key emotional intelligence competence, exhibits the lowest correlation with commanding style but the highest with affiliative leadership. Additionally, the research reveals that emotional self-control is the least developed emotional intelligence skill among educational professionals in the Republic of North Macedonia, indicating a vital area requiring enhancement and growth. This study reaffirms the interdependent relationship between leadership and emotional intelligence within organizational settings. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Discovering the Relationship between Leadership Styles and Organizational Commitment: The Case of the Private Sector of a Developing Country(2024-07-12); There has been great interest evolving around leadership ever since so, scholars have been challenged by various variables that have been considered relevant for discovering some of the complexities related to leaders. The output orientation of organizational commitment and employee engagement naturally seeks a relationship with leadership. Hence discovering the relationships among leadership and organizational commitment considering the context of Kosovo is one of the main aims of this paper. The presented work reflects three leadership styles that will be considered: laissez-faire, transactional, and transformational, and three dimensions of organizational commitment: affective, normative, and continuance. The main aim is oriented towards understanding relationships and what they will bring to the organizational context. At this stage, the paper utilizes Pearson’s Correlation, whereas collected data was gathered through questionnaires distributed to employees and managers in the private sector in Kosovo. A total of 202 samples were collected using random sampling from diverse industries including retail, manufacturing, service, construction, and wholesale. The results of this paper provide some insights and, in this respect, confirm that leadership styles have a moderate positive correlation with organizational commitment. That implies that organizational commitment will eventually determine leadership in organizations and in this line bring forward new possible discussions in the respective field. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, DESCRIPTIVE ANALYSIS OF THE FINANCING OF LOCAL SELF-GOVERNMENT UNITS WITH SPECIAL REFERENCE TO THE MUNICIPALITY OF STRUMICA(2024)