Sasho, Josimovski

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Sasho, Josimovski

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Sasho, Josimovski

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DETERMINANTS OF DATE ANALYTICS MODELS TO IMPROVE CUSTOMER ENGAGEMENT
(INSTITUTE OF KNOWLEDGE MANAGEMENT SKOPJE, MACEDONIA, 2018-03)
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Abstract: Organizations that turn data into insights are gaining competitive advantage through improved connections with consumers. Data analytics (DA) is the process of examining data sets in order to draw conclusions about the information they contain, aided by specialized systems and software. Data analytics technologies and techniques are widely used in commercial industries to enable organizations to make more-informed business decisions and by scientists and researchers to verify or disprove scientific models, theories and hypotheses. Our findings demonstrate a significant increase in the number of organizations that are using analytics to gain a competitive advantage and innovate — a key component of this shift is more effective use of analytics to improve customer engagement. Data and analytics allow organizations to use intelligence from feedback to tailor offerings that improve customer satisfaction. Several factors appear to be at work, including the use of a wide range of data sources, well-developed core analytics capabilities, and integration of artificial intelligence (AI) and the internet of things (IoT) into processes. Companies that have businesses as their main customers (business-to-business, or B2B) are gaining the most benefits from this shift, in part because they are able to share data with customers in a way that directly strengthens their relationship. Data analytics initiatives support a wide variety of business uses. For example, banks and credit card companies analyze withdrawal and spending patterns to prevent fraud and identity theft. E-commerce companies and marketing services providers do clickstream analysis to identify website visitors who are more likely to buy a particular product or service based on navigation and page-viewing patterns. Mobile network operators examine customer data to forecast churn so they can take steps to prevent defections to business rivals; to boost customer relationship management efforts, they and other companies also engage in CRM analytics to segment customers for marketing campaigns and equip call center workers with up-to-date information about callers. We assigned respondents to one of three categories based on their relative level of sophistication in adopting analytics: the Analytically Challenged organizations display limited analytical capabilities; Analytical Practitioners largely use analytics to track and support performance indicators; and Analytical Innovators incorporate analytics into virtually every aspect of their strategic decision making, including gleaning data from a variety of sources such as direct measurement and sensors, industry data, and third parties. One of the clear differences between Analytical Innovators and the other maturity groups is their ability to successfully use data and analytics to deepen customer engagement along several key dimensions. The most analytically mature organizations are twice as likely to report strong customer engagement compared with the least analytically mature organizations. According to this interpretation, Analytical Innovators’ heightened awareness of customer and competitor behavior leads to a greater appreciation of the risks of customer loss as a result of their data-driven customer intelligence and engagement. To determine the relative analytics proficiency of an organization, we calculated the Analytics Core Index, based on the organization’s core analytics capabilities in (1) ingesting data (capturing, aggregating, and integrating data); (2) analyzing (descriptive analytics, predictive analytics, and prescriptive analytics); and (3) applying insights (disseminating data insights and incorporating insights into automated processes).
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ASSESSMENT OF THE DIGITAL MATURITY IN SELECTED INDUSTRIES IN THE REPUBLIC OF MACEDONIA
(1. Association of Economists and Managers of the Balkans, Belgrade, Serbia; 2. Faculty of Engineering Management - Belgrade, Serbia; 3. Modern Business School - Belgrade, Serbia; 4. Faculty of Business and Management Sciences - Novo Mesto, Slovenia; 5. Faculty of Business Management and Informatics - Novo Mesto, Slovenia; 6. Business Academy Smilevski - BAS, Skopje, Macedonia; 7. BAS Institute of Management, Bitola, Macedonia, 2017-12-14)
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The goal of the paper is to assess the level of digital maturity of selected companies in two industries (banking and retail) in the Republic of Macedonia based on defined methodology. The results confirmed that companies in the sample fully understand the benefits of digital transformation and strive to reach higher levels of digital maturity. Although companies from both industries are progressing well and the overall level of digital maturity is set between levels 3 and 4, banks are step forward reaching level 4 i.e. customer-driven while retail companies are on transitional level.
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Digital Maturity Assessment in the Banking Industry in the Republic of Macedonia
(INSTITUTE OF KNOWLEDGE MANAGEMENT SKOPJE, MACEDONIA, 2017-09)
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The main goal of this paper is to assess the level of the digital maturity of selected companies in the banking sector in the country using the digital maturity assessment tool. Since the concepts regarding digital transformation especially digital maturity are not uniquely defined in the literature, the process of the digital transformation of a company will be presented together with the assessment methodology of companies’ digital maturity from the authors’ point of view. Digital transformation impacts the whole business, not only questioning existing ways of managing and structuring it, but also changing mind-sets of everyone in the organization. Companies in all industries worldwide are experimenting with and benefiting from digital transformation. Digital maturity and digital transformation are interconnected. In order to reach certain level of digital maturity, digital transformation is a must. Digital transformation is the use of technology to radically improve performance of companies. Different authors and consulting groups propose digital transformation roadmaps in order to reach predefined digital maturity level. We will address the most influential methodologies. In order to assess the level of the digital maturity a structured survey was performed in the banking industry in the country. According the defined methodology the following five different pillars of digital maturity are evaluated: governance and leadership, people and culture, capacity and capability, innovation and technology. Each of the pillars can be assessed on the scale of five different levels starting from minimal, then informal and reactive, transitional, customer-driven and the final, most advanced level – transformed. Concerning the first pillar, governance and leadership, analysed banks are mostly in the level 3 and 4. This means that they have defined digital strategy which is integrated into departmental planning process and influences overall organisational strategy and direction. The maturity of the analysed sample for the second pillar – people and culture, is on level 3. This means that the digital strategy is developed and embraced by staff and in some cases digital transformation change management plan is implemented. After summarizing the results for the third pillar - capacity and capability, it can be concluded that the answers into the assessment tool are more dispersed and overall conclusion cannot be derived. Analysed banks are mostly between level 3 and 4 regarding innovation aspect meaning that digital channels are used to create new relationships with customers and the company seeks ways to utilise digital channels and technologies to redefine customer service and to generate new benefits. The last pillar which refers to the technology, shows the highest level of all pillars, i.e. mostly the analysed banks are between level 4 and 5. This is encouraging since the technology is enabler of digital transformation. The banking sector in the country is one of the most advanced service sectors and hence represent a benchmark concerning the digital transformation. The results of our survey confirmed that banking sector in the Republic of Macedonia fully understands the benefits of digital transformation and therefore strives to reach the highest level of digital maturity. Understanding where the companies are on the digital journey has a number of benefits including the prioritization of resources and projects that will help accelerate advancing along different levels of digital maturity.
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RISKS OF IMPLEMENTING GAMIFICATION: A LITERATURE REVIEW
(ESD Conference, 2022)
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The term "gamification" is most often used in the modern business world as an attempt to improve employee productivity and their motivation, improve the marketing activities of the company, improve the activities in the field of finance and all other activities. Gamification is defined as the use of elements, mechanisms, and ways of thinking from video games in an environment that has nothing to do with video games. Because of its broad nature, gamification has found various benefits in different industries, which is amplified in the work-from-home and study-from-home models which became frequent during the COVID-19 pandemic. The increasing implementation of gamification and its growing popularity is generally based on positive feedback and different benefits outlined, however potential problems and risks can be detrimental to the organization’s functioning if implemented improperly. The paper focuses on the available research on the topic, to serve as a basis for future primary research. Data analyzed shows a discrepancy on outlining benefits and drawbacks/risks in published papers. Following an in-depth analysis, it is determined that poor implementation of gamification can lead to significant problems in organization day-to-day functioning, which if not remedied can deteriorate quickly with great adverse effects. Risk management best practices can be followed to minimize potential negative effects of gamification.
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CONSUMER PERCEPTIONS TOWARDS DIGITAL SHADOW ECONOMY – EVIDENCE FROM NORTH MACEDONIA
(2024-10)
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The informal economy is a global phenomenon and a threat to the entire world economy. Fueled by the rapid development of the digital economy and the increasing use of e-commerce worldwide, the informal economy is gaining momentum in the digital space as well. As volume, variety and velocity of transactions in the digital space increase rapidly, there is a growth of the number of illegal digital operators and platforms encouraging consumers’ involvement in digital shadow trade from different reasons. Undoubtedly, one of the biggest problems in the last decade is the difficulty to define and hence detect economic shadow activities, objects and entities in the digital space, which is the basis for the growth of the informal economy. Although in recent years the interest towards the forms, channels, features and scope of the digital shadow activities is increasing, there isn’t a clear understanding of digital shadow economy in the scientific literature. The variety of terms, interpretations, characteristics and aspects relevant to this phenomenon is rather wide, which determines the necessity to define the precise concept in order to detect, measure and reduce shadow activities in the digital space. Despite the prevalence of the informal exchange of goods and services in the digital space in both developing and developed countries, so far little is known about consumer attitude in this large and rapidly expanding market fueled by rapid technological advances. Hence, it is important to understand how consumers perceive the concept of digital shadow economy, are they aware of shadow economy in the digital space and how they behave online. The goal of this study is to discuss important aspects digital shadow economy and to analyze consumer perceptions towards this phenomenon in the country. It employs a quantitative research design, and a questionnaire as the instrument for data collection was distributed among more than 170 respondents. The findings provides relevant theoretical and practical implications and confirm moderate level of awareness of Gen Z towards digital shadow economy in our sample. The results also reveal some valuable insights about online consumer perceptions’ towards determinants of digital shadow consumption and what affects consumer attitude in online shopping channels. Regardless of the efforts to reduce the informal economy in the country, there is a lack of studies and empirical evidence on digital shadow economy from consumer perspective. This study contributes to the understanding of how Gen Z perceive the concept of digital shadow economy and hence can promote activities in rising awareness about the negative effects of shadow activities in the digital space, encouraging young online consumers on strong attitude in avoiding shadow channels in the digital space.
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DIGITALIZATION, ARTIFICIAL INTELLIGENCE AND WORK FORCE
(Institute for Knowledge Management, 2022-10-10)
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Digitalization has been changing organizations from the time when Internet was discover. On the other side digitalization is rapidly reshaping our workplaces. Nowadays people cannot imagine business or their personal lives without digital technologies, digital technologies often change individual’s work and collective work practices in significant but unpredictable ways. Digitalization has created many challenges at companies and also at work place, but also create excellent opportunities for organizations. New technologies are a key driver of labor market change in recent decades. On the other side there are technological developments in areas such as artificial intelligence and concerns that this technologies will destroy jobs. There are lot of existing studies which examined the role of digitalization on business performance and worker productivity. Digital technologies help but also allow companies to improve their workplace form traditional/outdated to fresh and digital. The benefits from the digitalization are appeal to both employees and management. In general technologies are unpopular among workers in traditional companies, primarily because they are not well known, as well as because of the fear of possible job losses. A large number of surveys and surveys of the opinion of workers reveal a small percentage of workers who support the implementation of robotic production systems because most believe that they will "take" their jobs. For that reason, in recent years, the issue of informing workers with new technologies that work with artificial intelligence has been updated, in order to neutralize the fear of the unknown. Artificial intelligence is being perfected to ensure complementarity of production processes to improve productivity and, ultimately, increase profits. Those jobs that will be closed and replaced by robotization and the introduction of artificial intelligence will actually generate new jobs that should be filled with workers through their retraining and retraining , because machines and artificial intelligence still need to be managed by a human factor. In this paper we will explore the situation about the level of digitalization, implementation of AI (artificial intelligence) in different fields of working and how this process cultivate the digital work force, what are the skills of workers' representatives for information management, digitalization, AI (artificial intelligence) management, as well as the creation of a personnel strategy and its implementation in the company.
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Impact of e-recruitment strategies in enterprises of the Republic of Kosovo
(ILIRIA International Review, 2019-07-01)
Dragusha, Blerim
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In the modern world information technology especially internet is rapidly changing the way individuals interact in the real world in the labor force market. Social networks (SN) like Facebook, LinkedIn, Twitter; Instagram etc. has invaded our daily lives. Human resources management has also taken its share of these changes. Employers have begun using social networks for getting information about job candidates. Information provided by Social Network about personal and professional life of potential job candidates made Social Network as an important tool for recruiters. In the Republic of Kosovo even in some other countries social network is not an official part of the selection but their influence on the recruitment process is very evident. The essence of the research is the impact of social networks and traditional methods - interviews, C.V and recommendations in the recruitment process in the Republic of Kosovo. In foretold, the research thesis is explored with all the justifications and challenges that follow. Presentation of the research plan and procedures reflects in detail the real situation. The methodology I have used in this research has analytical character and practical verification of hypotheses. This first research is dealt with on this day and will be a major contributor to the human resources strategy devoted to the recruitment process. In the survey we made and the hypothesis that I have argued about the reality of the recruitment process in the Republic of Kosovo. And I conclude that: Social networks are effective and efficient in the recruitment process, it has the potential to find the best candidate for employment, has a competitive advantage. Link the social network with more reliable and professional social connections between social networks and traditional recruitment methods foresee them as a model of the future. But the replacement of traditional recruitment methods with social networks respondents now has rejected it as a possibility.
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IMPACT OF SOCIAL MEDIA ON SALES FUNNELS IN B2C AND B2B SEGMENTS IN THE REPUBLIC OF NORTH MACEDONIA
(National and University Library of the Republic of Srpska, 2021-03-03)
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<jats:p>The research focuses on introducing social media platforms as either a complementary or main channel in the company sales funnel. Internet technologies and Web 2.0 continue to provide innovations in digital marketing, with the latest iteration being lead generation services through social media. Data shows that almost half of the world population is active on social media, with the new Generation Alpha being projected to be entirely online dependent and proficient in the use of new technologies. The paper provides an overview of the digitalization of sales funnels, as well as the benefits that social media platforms can offer if implemented correctly. Secondary data provides the basis for transforming sales funnels with social media, where previous research provides limited data on the effectiveness of these types of efforts. Primary data demonstrates that introducing social media platforms can provide improvements of up to 3 to 4 times in analyzed case studies, as well as the shorter time when deciding about purchase in use case scenarios. Social media advertising can also be utilized to shorten the sales funnel process and serve as a unified point of entrance and exit in the first few stages.</jats:p>
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INTERNET MARKETING CHANNEL IMPLEMENTATION IN THE TRADE INDUSTRY IN THE REPUBLIC OF NORTH MACEDONIA
(Journal of Sustainable Development - Integrated Business Faculty, 2019-06-01)
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Modern companies are utilizing the benefits of Internet marketing, which can prove as a crucial tool in communicating with consumers. While the obvious goal of Internet marketing is to sell products and services or to promote them online, companies can communicate, transmit or exchange messages about themselves, conduct research, analyze competitors and other activities. From a marketing point of view, social media are also becoming more and more important, but many businesses are uncertain whether accepting social media will advance the line if there are difficulties in aligning marketing activities through social media with rising sales. The paper conducts primary research in a specific industry in North Macedonia, focused on small and medium companies, with key findings that Internet and social media marketing is considered a powerful tool with a lot of benefits by participants.
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CORRELATION OF COVID-19 IN THE ONLINE PURCHASING PROCESS
(Faculty of Economics-Skopje, Ss. Cyril and Methodius University in Skopje, 2021-11-13)
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Boceva, Brankica
The paper establishes the central point for researching factors that influence buying decisions in the online purchasing process. The benefits of e-commerce for both buyers and sellers place it as the default method of shopping in the near future. Through empirical research, e-commerce growth is being established as rapidly rising through recent years, which has been accelerated by specific factors introduced by the COVID-19 pandemic. Data shows that e-commerce is dependent on several different factors during normal circumstances, which also include the level of development of the country as one of the main precursors. The beginning of the COVID-19 pandemic influenced greatly the importance of these established factors for online purchasing, rendering many of them obsolete. The paper structures the research to outline the most relevant factors influencing online purchasing decisions pre-pandemic and during pandemic times, and to draw relevant conclusions and recommendations for future practical implementations of e-commerce models. Research shows that new factors need to be introduce in these types of abnormal times, as the nature of the pandemic made non-contact interactions the norm in the past year. By introducing the six stages of pandemic behavior, online retailers can better understand the factors influencing online purchasing process in pandemic times. Finally, specific recommendations can be made to improve the e-commerce acceptance both at industry and company levels.

Sasho, Josimovski

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