ENTRENOVA - ENTerprise REsearch InNOVAtion

Analysing and Designing Circular Value Networks for Sustainable Tourism – a Case Study

Sandra Grèzes-Bürcher, Vincent Grèzes — Wed, 13 Nov 2024 00:00:00 +0100

This exploratory study addresses the lack of literature on circular value networks in sustainable tourism ecosystems. The authors argue that circular, cross-industrial value networks can optimize the use of both tangible and intangible resources within a tourism region, fostering sustainable development. This is particularly relevant given tourism's significant CO2 emissions and its role in addressing SDGs such as goals 3 (good health and well-being), 8 (sustainable economic growth), and 12 (sustainable consumption and production). The central research questions are: “How can unused regional resources in a tourism context be valorised?” and "How does integrating circular value networks in a tourism destination contribute to sustainable development?" Using systemic design methodology (Battistoni et al., 2019), the researchers identify unused resources and existing and potential cross-industrial circular value networks in the Regional Nature Park Pfyn-Finges in the canton of Valais, Switzerland. They analyse selected value networks, examining their potential, challenges, and impact on all three dimensions of sustainability, and design ideal value networks based on these findings. The study highlights the significant potential of unused resources to enhance circular multi-actor value networks within a tourism destination, contributing to all aspects of sustainability and boosting the destination's resilience.

Multi-Criteria Decision Making in Travel and Tourism Digitalization: Web-Based Perspective

Wed, 13 Nov 2024 00:00:00 +0100

The knowledge regarding the use of digitization within tourism industry structures among EU countries, as well as its effects and benefits, is still scarce. This study aims to fill this gap by examining, through a multiple criteria analysis, the level of digital platform application focusing on e-booking use as well the role of COVID-19 on the effects of the digitization processes and its perspectives among tourism structures within EU countries. Thus, this study aims to point out the importance of the application of multi-criteria analysis for business decision-making in tourism through the prism of the adoption of digital platforms, that is, online reservation systems, as the dominant model of modern business for tourist companies. By applying multiple criteria and statistical analysis, this study found a high level of adoption of online booking applications within tourism structures among EU countries, thereby highlighting France as the leading economy in the mentioned context.

Kinect-Driven Humanoid Robot for Mimetic Interaction

Emanuel Muntean, Sebastian Rosca, Monica Leba — Wed, 13 Nov 2024 00:00:00 +0100

This paper presents an innovative approach to human-robot interaction through the use of a Kinect-type device for capturing the movement of a human operator, which is then accurately reproduced by a humanoid robot. The robot, standing at 110 cm, mimics a reduced-sized human and is crafted utilizing advanced 3D printing technology. The core of this system lies in its ability to capture human limb movements via the Kinect device, analyse the angular movements, and process this data to control the robot to replicate these movements identically. This methodology not only enhances the fidelity of movement replication but also broadens the scope of applications for such technology. Potential applications include but are not limited to rehabilitation, where the robot can assist or guide physical therapy exercises, entertainment, through performances or interactive displays, and educational settings, where it can serve as a tool for learning about robotics and human anatomy. This research marks a significant step forward in the development of humanoid robots that can seamlessly integrate into various aspects of human life, offering both functional and educational benefits.

Hybrid Neural Network Training on Diverse Hardware

Fabian Arun Panaite, Monica Leba — Wed, 13 Nov 2024 00:00:00 +0100

This study presents a comprehensive comparison of neural network training hardware structures, focusing on the performance of CPU and GPU processors under varying data storage conditions (SSD drive and RAM disk). Initially, the training efficiency and speed of neural networks are analysed using a CPU processor, with data stored first on an SSD drive and subsequently in a RAM disk to evaluate the impact of data retrieval speeds on training times and accuracy. The analysis is then extended to GPU processors, renowned for their superior parallel processing capabilities, under identical data storage conditions to discern the benefits and limitations of each hardware setup in neural network training scenarios. Additionally, a novel hybrid architecture is proposed, combining either CPU or GPU processors with the concept of memory sprites—a technique borrowed from the age of video game development for optimizing graphics on less capable hardware. This approach aims to leverage the advantages of both processing units while mitigating their weaknesses, offering a potentially superior solution for training complex neural networks efficiently on diverse hardware platforms.

IMU-Based Exoskeleton Control: Torso Movements and AI

Marius Leonard Olar, Monica Leba, Andreea Cristina Ionică, Victor Triohin — Wed, 13 Nov 2024 00:00:00 +0100

This study introduces a new control system for an upper limb exoskeleton, leveraging Inertial Measurement Unit (IMU) sensors placed on the user's trunk. The system employs two distinct control methodologies to enhance the exoskeleton's responsiveness and accuracy in assisting arm movements. The first method utilizes the torso's motion, integrating IMU data to calculate the arm's movement limits synchronously with the torso, ensuring the exoskeleton's movements are in harmony with the user's natural motion patterns. The second method adopts a more advanced approach, employing a neural network to predict the user's intended arm movement based on the torso's dynamics. This predictive model allows for a more intuitive interaction between the user and the exoskeleton, potentially improving the efficiency and satisfaction in its use. By comparing these methods, the paper aims to evaluate their effectiveness in providing a seamless and natural extension of the human body through the exoskeleton, offering insights into future developments for assistive technologies.

ML Techniques Integration in Digital Learning Platforms: Students’ Dataset Statistical Analysis

Lediana Shala Riza, Lejla Abazi Bexheti — Wed, 13 Nov 2024 00:00:00 +0100

With the use of technology-enhanced learning platforms and an abundance of available educational data, it is possible to analyze student learning behavior and solve problems, improve the learning environment, and make data-driven decisions. A virtual learning environment effectively provide datasets for analyzing and reporting student learning, as well as its reflection and participation in their individual performances, which complements the learning analytics paradigm. This work is intended to explain the use of AI-based approaches in online learning, with a particular focus in offering a statistical approach on students VLE dataset. The study uses quantitative methodology to highlight the association between the variables in the obtained dataset. The purpose of this research is to examine the correlation and dependency of the dataset variables in order to observe the relationship between these variables and the effect that these attributes may have on students' performance in a digital learning environment. According to the findings of this study, there is a correlation between student performance and a number of different factors, such as resource (page) views, course modules, assessment type, assessment weight and sum of clicks in a VLE.

The Impact of AI Tools on Education: Preliminary Research of HEIs’ Teachers' Perspectives

Mirna Plattner, Ivana Kosec, Mirjana Pejić Bach — Wed, 13 Nov 2024 00:00:00 +0100

The integration of artificial intelligence (AI) into education has become a growing topic of interest and study, with the potential to reshape how educational practices are carried out, offering benefits like personalised learning, automated administrative tasks, and immediate feedback. However, implementing AI in education also presents challenges, such as the risk of biased algorithms and concerns about the potential reduction of teachers' roles in developing critical thinking and creativity in students. This research explores teachers' views on the use of AI in education through a survey conducted with educators from various academic backgrounds. The results indicate that while many teachers are familiar with AI and see its potential, its use in everyday teaching is still not widespread, and there are mixed feelings about its impact. Teachers value AI for its ability to assist with learning and provide support to students with special needs. However, they also worry that relying too much on technology could negatively affect students' critical thinking and motivation. The study highlights the importance of carefully integrating AI into education, ensuring that it enhances rather than replaces traditional teaching methods and that any challenges are thoughtfully addressed.

Predictive Marketing Regarding Brand Awareness of Gen Z: Brand Equity, Digital Media Content or Emotions Lead to Purchase?

Lutfije Ademi, Jusuf Zeqiri — Wed, 13 Nov 2024 00:00:00 +0100

This article investigates the effect of brand awareness, brand equity, digital media content and emotions on purchase intention of Gen Z. The scope of study is focused on people born in the period 1997 - 2012 or Gen Z in North Macedonia. The answers are retrieved from an online questionnaire, delivered to 444 responders. The data is analyzed using regression model. The findings show that all the independent variables, such as: brand equity, brand awareness, digital media content and emotions are positively related to the dependent variable, which is purchase intention. Thus, we concluded that brand awareness, brand equity, digital media content and emotions have a positive impact on purchase intention of Gen Z.

Successful Aging at Work: A Comprehensive Literature Review

Katja Debelak, Barbara Grah, Sandra Penger — Wed, 13 Nov 2024 00:00:00 +0100

The aging workforce has become a significant concern for modern organizations as the proportion of older workers in the labour force continues to increase. This paper aims to critically examine the evolving concept of Successful Aging at Work (SAW), a crucial framework in the discourse on aging workforces. Understanding and implementing SAW has become increasingly significant for organizations worldwide due to the relatively fast demographic shift towards an increasing share of the older workforce. This literature review synthesizes key research findings, theoretical perspectives, and practical implementations of SAW, drawing on various academic sources. Central to the literature review is exploring the multidimensional nature of SAW, which involves the proactive maintenance and adaptive recovery of older workers' abilities and motivations. The review also considers various models and classifications of SAW, including the growth/recovery and maintenance framework. Additionally, it examines the intersection of personal development, age-related changes, and organizational strategies within the context of SAW. In conclusion, by integrating insights from diverse academic literature, this review aims to provide a comprehensive understanding of SAW, highlighting its importance in contemporary and future organizational settings. This literature review is a foundational resource for academics, practitioners, and policymakers interested in fostering successful aging at work.

Aging and Work-Related Identity Loss Due to Retirement

Ana Bartol, Barbara Grah — Wed, 13 Nov 2024 00:00:00 +0100

Population aging in most developed countries and the associated aging of the workforce is an important and complex issue with far-reaching implications. Automatic adjustment mechanisms recently introduced in some EU Member States will raise the retirement age to 71 by 2060, meaning that work will occupy a large part of our lives. Work is closely linked to our identity. For many adults, a work-related identity is an important part of their personal identity. Although retirement is eagerly anticipated by many workers, it can lead to the loss of important work-related activities and social ties, which for some may affect stability and positive identity. This research aims to shed light on deeper psychological issues connected to work-related identity in the context of retirement. In particular, with a conducted literature review, this paper aims to offer a theoretical overview of work-related identity loss due to retirement. Findings reveal the importance of understanding work-related identity and the consequences of its loss. Results suggest that the transition and adjustment to retirement was particularly difficult for individuals with a strong work identity.

Healthy Aging and Physical Activity: The Qualitative Research

Sandra Penger, Barbara Grah — Wed, 13 Nov 2024 00:00:00 +0100

Population aging is a global trend encouraging countries and their governments to introduce different policies related to the increasing number of older adults. Also, on the individual level, people can contribute to healthy aging by performing regular physical activity. Physical activity improves next-day job performance and health. Additionally, a recent study from Harvard Business Review found that even a short time of physical activity (20 minutes per day) was sufficient to benefit employees' next-day performance and health. The goal of this study is to deepen the knowledge of healthy aging, specifically, related to senior adult health and wellness management. To study the phenomena, we employed qualitative research by integrating the coaching perspective through the expert opinion of Gregor Sobočan, Master of Sport International Class and head coach of professional athletes in the Slovenian national sports team at the national level, and senior participants, athletes in the Kettlebells Center sports club in Ljubljana, Slovenia. Namely, we collected their opinions and performed the content analysis. The research outlined that regular physical activity and active and healthy aging are vital for human health, in line with the integrative body-mind-spirit framework.

Investigating the use of AI-based Tools among High School Students in the Partium Region. Results of an experimental Micro-research

Zoltan Zakota, Zoltán Szűts, György Molnár — Wed, 13 Nov 2024 00:00:00 +0100

Education is undergoing a radical shift. Students are embracing Artificial Intelligence (AI) tools that go beyond traditional learning aids. Interaction with AI can enhance learning skills and help students to develop critical thinking, problem-solving, algorithmic thinking, and tech literacy. They also can boost productivity with the help of virtual assistants; manage schedules, organization, and time. This growing trend of AI-powered learning fuels our research. We aim to explore the impact of these tools on education by examining both traditional e-learning technologies and their AI-powered counterparts. This survey lays the groundwork for a larger study investigating how high school students utilize Information and Communication Technology (ICT) tools. Our research targets high school students in the Partium region, namely Bihor and Satu Mare counties, located along the northern Hungarian-Romanian border. This multilingual and religiously diverse region is home primarily to Romanians and Hungarians, with significant Romani populations and smaller Slovak and Swabian communities. This unique mix offers potential for future comparative analyses and a valuable opportunity to explore educational trends. To initiate this exploration, we have conducted by now a micro-survey among students at the theoretical high school in Săcueni, a central town within the region.

Readiness of Albanian Students to engage in Digital Learning: Perceptions, Challenges and Opportunities

Edllira Çaro (Kola) , Ornela Hasrama, Sonila Sinjari (Xhafa) — Wed, 13 Nov 2024 00:00:00 +0100

Digital technologies play a crucial role in transforming today’s learning landscape. The integration of online platforms, digital learning materials, and collaborative tools has become commonplace in many countries, offering students access to various resources and opportunities for engagement both inside and outside the classroom. This shift towards digital learning fosters a more dynamic and motivating learning environment and equips students with employability skills, enhancing their prospects in today's labour market. Recognizing the significance of digitalization in education, Albania has prioritized this initiative as part of its efforts to align with EU standards. Despite ongoing projects and investments aimed at promoting digitalization of teaching and learning, the pace of adopting innovative approaches remains sluggish, largely due to the complex interplay of factors and the readiness of key stakeholders such as teachers, school leaders, and students. To explore the challenges and identify potential solutions, a research study was conducted among students at the University of Tirana. By combining survey data with in-depth interviews, the research aims to uncover students' perceptions toward digital learning. The research shows that Albanian students are aware on the importance of digital learning, but are still facing psychological and infrastructural challenges that hinder their perceived readiness and willingness.

The Role of Ultrasound in Medical Diagnostics and Treatment

Ivana Vrdoljak, Lorena Dravinac — Wed, 13 Nov 2024 00:00:00 +0100

The ultrasound machine generates images to examine various parts of the human body. It emits high-frequency sound waves that are reflected off bodily structures, and a computer receives these reflected waves to create images. Unlike X-rays or CT scans, ultrasound does not utilize ionizing radiation. Ultrasound has gained popularity due to its widespread availability and the ability of modern devices to produce high-resolution images, offering exceptional clarity, which in turn provides precision, accuracy, sensitivity, and specificity. A major advantage of ultrasound is that it allows frequent examinations without causing harm to the patient, as it does not emit radiation. As the name suggests, ultrasound typically refers to high-frequency sound waves. These waves pass through body tissues and are converted into electrical signals. The accuracy of ultrasound diagnostics depends on the operator's expertise in handling the equipment, selecting the appropriate probe, identifying artifacts, and interpreting the results. There are several ultrasound techniques, including A-mode, B-mode, M-mode, Doppler, contrast-enhanced ultrasound, and other techniques. In medicine, ultrasound is also used for interventional procedures, such as guiding biopsies. Ultrasound can visualize nearly all organ systems within the human body without causing harm to the patient, making it the gold standard in diagnostic imaging.

Breast Cancer Detection from Thermal Images using Machine Learning

Sijche Pechkova, Lyudmyla Venger, Dragana Andonovski, Beti Andonovic — Wed, 13 Nov 2024 00:00:00 +0100

In this study, the authors propose an advanced strategy to analyze thermal images for breast cancer detection employing machine learning techniques. By focusing on critical features that capture geometric and structural information in thermal images, the aim is to elevate the precision and uniformity of breast cancer diagnostics. The dataset comprises thermal images from patients with breast cancer; these vital features are extracted and integrated into proposed decision tree model, resulting in a classification accuracy of 92%. This highlights the utility of combining specialized features with machine learning algorithms in medical image analysis. Consequently, the findings suggest that this approach can substantially enhance traditional imaging methods, establishing a robust basis for early and accurate breast cancer detection.

Strategic Database Modelling for Enhancing Firefighter Station Operations

Ana-Marija Stjepić, Diana Pofuk — Wed, 13 Nov 2024 00:00:00 +0100

Nowadays, an enterprise cannot function effectively or make informed business decisions without access to and use of business data. Business data provides information that supports strategic decision-making for entrepreneurs and all other employees within the organization. Therefore, this paper aims to demonstrate how strategically defining information requirements, and subsequently database modelling, supports business operations. Accordingly, the research methodology for this paper involves analysing a case study focusing on a specific fire department. Through the case study, the information requirements are identified and used to create a database model. Based on the modelling and creation of the database, the identified information requirements are analysed and discussed in the context of operational improvements for the firefighting station.

Digital Innovation in the Croatian Music Sector: A Preliminary Study

Nikolina Gostrec, Jovana Zoroja — Wed, 13 Nov 2024 00:00:00 +0100

Since the emergence of soundtracks, the music industry has been largely driven by innovation. The technological advances of the 20th century have significantly impacted society and the economy. Rapid development and use of the internet, in particular, strongly transform the music industry—especially in terms of how music is created and consumed. In this study, we tried to examine the changes in the music industry resulting from digital technology advancements. Furthermore, we aimed to examine how Croatians have incorporated digital innovations into their music-listening practices. The study explores: (i) respondents' usage of media players and music platforms, (ii) age and gender differences in respondents' reactions to industry developments, and (iii) preferences for digital versus analog music formats. Conducted on a random sample of 146 Croatian respondents, the research reveals a strong influence of digitalization on the music industry, with respondents showing high adaptability to these changes. Participants identified accessibility and the availability of music content as key benefits of digitalization, while piracy was noted as its primary drawback. Additionally, no significant age-based differences were found regarding preferences for digital or analog formats. While respondents acknowledged certain advantages of analog formats, digital music remains equally, if not more, widely used.

The Importance of Lifelong Education in Modern Economy

Ivana Vrdoljak — Wed, 13 Nov 2024 00:00:00 +0100

Lifelong education includes both formal and informal learning patterns across an individual’s life, aimed at continuous personal development and enhancing societal quality of life. This concept emerged as an extension of educational advancements, representing a broader, more profound understanding of learning that focuses on redesigning education to be more functional and impactful. In modern economies, lifelong education is increasingly recognised as a way to adapt to dynamic career paths and rapid technological changes. It is not only a tool for career advancement and employability but also a means to foster adaptability, creativity, and resilience. The focus on lifelong learning supports individuals in remaining competitive in evolving job markets, allowing them to expand their professional networks and achieve long-term success. As industries and the nature of work continue to evolve, lifelong learning is essential for maintaining relevance in an ever-changing landscape. Additionally, lifelong education has societal benefits, promoting social cohesion, civic engagement, and personal fulfilment. In the context of the digital economy, it provides individuals with the skills needed to thrive in a technology-driven environment, supporting both personal and professional growth.

Sustainable Accounting in the Function of Sustainable Development

Ivana Martinčević, Dinko Primorac, Irena Bilić — Wed, 13 Nov 2024 00:00:00 +0100

The very concept of business sustainability includes the economic success of the company and its social responsibility, while simultaneously protecting human and natural resources. The basic purpose of organizations is high-quality, reliable, and comprehensive reporting, which contributes to improving transparency and better management. Businesses today are experiencing a transition from traditional accounting to sustainable accounting. Sustainable accounting is the practice of measuring, analyzing, and reporting a company's social, environmental, and governance impacts. Today businesses need accountants trained to accurately and comprehensively measure sustainability. To research and review novelties in the field of sustainable accounting numerous world literature has been researched. In this research, papers within the Scopus databases were used to gather information on the research topic which shows that a large number of authors have researched the area of sustainable development. Still, there is insufficient correlation and connection between sustainable accounting and sustainable development. A search of Scopus using the following approach (TITLE-ABS-KEY ("sustainable accounting") AND TITLE-ABS-KEY ("sustainable development") resulted in 47 scientific papers. From the aspect of sustainable development, it is essential to measure and report information regarding sustainability through sustainable accounting.

Corporate Sustainability Reporting Directive (CSRD): Obligations, Challenges and Requirements for Companies

Ivana Martinčević, Dinko Primorac, Barbara Dorić — Wed, 13 Nov 2024 00:00:00 +0100

Today, companies should develop and operate in a sustainable and green society with the least possible negative environmental impact. At the global level, it is necessary to awaken and develop an awareness of the need to accept the concept of sustainable development, thus the application of the Corporate Sustainability Reporting Directive (CSRD) and ESG (environmental, social, and governance) concept. The Corporate Sustainability Reporting Directive (CSRD) is the new EU legislation requiring all large companies to publish regular reports on their environmental and social impact activities. CSRD sets out reporting requirements and obligations for companies and expands existing rules on non-financial reporting. CSRD reporting will help stakeholders (investors, consumers, policymakers, and others) evaluate large companies' non-financial performance. This paper aims to explore the area of sustainability reporting through CSRD reporting and its connection to the ESG concept in today's business world.

The role of Artificial Intelligence in Supply Chain Management: A systematic Literature Review

Klavdij Logožar — Wed, 13 Nov 2024 00:00:00 +0100

As the global business landscape continues to evolve, the integration of advanced technologies has become imperative for enhancing efficiency and competitiveness. This paper explores the multifaceted role of Artificial Intelligence (AI) in revolutionizing supply chain management (SCM). The traditional supply chain paradigm is being reshaped by AI-driven solutions, presenting opportunities for optimization, agility, and resilience. The author conducted a systematic literature review evaluation of the published literature from peer-reviewed journals in the major databases Scopus and Web of Science. The analysis of literature is a frequency analysis of the literature by considering the year of publications, the contribution of leading journals and publishers, and the methodology adopted and the content analysis of literature. The author’s findings from the literature reveal that key AI applications in supply chain management, such as demand forecasting, inventory management, logistics optimization, and risk mitigation enable organizations to make informed decisions, reduce forecasting errors, and optimize inventory levels, ultimately improving overall supply chain efficiency.

Intergenerational Leadership and Knowledge Transfer: Case of Cobot Integration

Vlado Dimovski, Simon Colnar, Vasja Roblek, Judita Peterlin — Wed, 13 Nov 2024 00:00:00 +0100

This article explores the complexities and benefits of leading collaborative robots, particularly in terms of intergenerational and technological oversight. It looks at the challenges that companies face and the potential benefits that can emerge from such situations. The aim is to guide how to effectively maneuver through these different scenarios. The primary objective is to examine the hurdles that organizations must overcome, identify the available opportunities, and formulate successful strategies not only for survival but also for prosperity in this complex environment. Therefore, we support the opinion that knowledge transfer between different generations is a bidirectional process where both younger and older employees are part of knowledge sharing and knowledge receiving activities within the organization.

Transformative Paradigms in IT Project Management: A Scholarly Exploration of SAFe® and Azure DevOps Integration for Enhanced Innovation and Strategic Agility

Raul Ionuț Riti, Andreea Cristina Ionica, Monica Leba — Wed, 13 Nov 2024 00:00:00 +0100

This scientific investigation presents a groundbreaking exploration of integrating the Scaled Agile Framework^® (SAFe^®) with Azure DevOps, setting a new benchmark for innovation and strategic agility in IT project management. The study meticulously examines how this fusion optimizes operational efficiency and fosters a culture of continuous improvement and collaboration across diverse project teams. Adopting a multi-metric research approach, it assesses the transformative potential of combining the Agile principles of SAFe^® with the robust tools and automation capabilities of Azure DevOps. This synthesis is proposed as a dynamic model for managing complex IT projects where traditional methodologies fail to address the rapid pace of technological advances and market requirements. Key findings highlight the improved flexibility, visibility, and productivity achieved through this integration, highlighting its importance in achieving successful project outcomes. It adds the area of strategic recommendations for IT leaders trying to navigate the challenges of digital transformation, advocating adopting these innovative practices as a cornerstone for future excellence in project management. This work not only contributes to the academic discourse on IT project management but also provides practical insights for practitioners seeking to leverage the latest advances in Agile Methodologies and Azure DevOps practices.

Architectural Design in Hotel Industry – Contemporary Challenges, Approaches to Sustainability and Emotional Aspects for Competitiveness of the Tourism Offer

Tamara Floričić, Irena Šker, Noemi Molnar — Wed, 13 Nov 2024 00:00:00 +0100

Architecture and design have always played a significant role in the tourism system, where they become key factors in hotel positioning and influence its business performance. Modern tourism demand is looking for more than the location and basic services that the hotel provides; the emphasis is on style, personalized and innovative approach. Innovations affect the specifics of design, and the overall atmosphere of the space, which architecture and design have a direct impact on. The purpose of the paper is to investigate the process of architecture and design in the context of contemporary challenges, approaches to sustainability and emotional aspects for the competitiveness of hotels on the Croatian coast. The research methodology includes qualitative processing of data collected through in-depth interviews with architects and designers of the hotel space and environment, as well as comparative analysis. The results of the research confirmed the key role of architecture and design in creating special experiences for guests and the importance of creating a pleasant atmosphere and providing superior service for success in the hotel industry. The results present a platform to the formation of a new model of competitiveness that contributes to the scientific and professional development of the hotel industry.

Framework for Establishing an Effective Management Team within Organizations

Ana Tomova, Beti Andonovic, Aleksandar Domitrov — Wed, 13 Nov 2024 00:00:00 +0100

This paper presents contemporary concepts, characteristics, and managerial strategies tailored for the demands of the new century. It delves into the significance of competitiveness and the implementation of effective management practices, emphasizing the pivotal role of knowledge management, organizational culture, and environmental analysis. The central focus lies in explaining the fundamental traits of a modern manager, highlighting the imperative for proactive improvement within the company. The subject of this paper is to evaluate the adoption of contemporary management principles by corporate management teams. The study examines the merits, drawbacks, and obstacles faced by these teams through surveys, aiming to optimize management teams. The research employs the Julie Hay's Working styles Questionnaire to predict Role distribution within working teams, offering a strategic advantage over empirical allocation. Furthermore, it utilizes the Adizes' Questionnaire to assess the development of key characteristics essential for effective decision-making within organizations. Surveys were conducted in two Macedonian companies following international research standards. Statistical analysis was conducted on the Questionnaire responses, offering not only a comprehensive evaluation and comparison of management team success across the surveyed companies, but also recommendations for improvements within the companies.

Agile AI-Quality Management Concerning LEAN Solutions from a Strategic Perspective

Irsa Wolfram — Wed, 13 Nov 2024 00:00:00 +0100

The paper describes the research work about the strategic imperative for agile quality management systems in medical engineering companies in Austrian, Germany, and Switzerland until 2030. The industry operates in a volatile, uncertain, complex, and ambiguous (VUCA) environment, where the advantage of agility is expressed in an Agile Performance Index. Although, current developments of artificial intelligence (AI) need to be factored in. The goal of the research work is to answer a research question about how the strategic imperative can be determined by taking AI into account. Literature review and applying a qualitative research approach with nine expert interviews unveiled four main dimensions: (1) societal impact, (2) operational compatibility, (3) data quality, and (4) model performance. It solicits new approaches for resilient processes. Further, it enables the decision makers to keep the long-term ramifications in mind by leveraging attractive spot business. The result of the research is explained with a SWOT analysis, which contains nine distinct different strategies to tackle the challenges in an VUCA environment for medical engineering companies.

Exploring the Link between Empathy and Assertive Communication in Healthcare Settings

Marko Antić, Ana Globočnik Žunac, Maja Križanec Cvitković — Wed, 13 Nov 2024 00:00:00 +0100

When it comes to the communication of healthcare professionals, the concept of competence in this area cannot be considered a complete concept if it does not include communication that is based on empathy and is not applied using assertiveness. It can be said that empathy and assertiveness are indispensable links in the interpersonal communication of healthcare professionals, whether it is communication directed towards patients or the organizational aspect of communication. Therefore, the goal of this research was to determine whether there is a connection between empathy and assertiveness in the communication of healthcare professionals. In this paper, a systematic review of literature was conducted, as part of which the Web of Science and Scopus databases were examined, and the key words according to which the databases were searched were empathy, assertiveness, and communication. The results of a systematic literature review showed that this is a relatively unexplored area in the recent period. This paper also represents a scientific basis for research of connection between empathy and assertiveness in the communication of healthcare professionals in Croatia.

Sociodemographic Factors of Intercultural Intelligence and Competence

Lana Miletić, Ana Globočnik Žunac, Marko Antić — Wed, 13 Nov 2024 00:00:00 +0100

The interdependence of people and the connection and networking are components of today's everyday business life. It is for this reason that communication plays a major role in all aspects of life, including in business. As physical boundaries are no longer an obstacle to successful business and distance can be overcome in just a few clicks on one of the smart devices, the need to master new skills is a necessity. Availability and work with colleagues, partners, people of other cultural assumptions and understanding of relationships and business require the existence of intercultural intelligence in everyone involved in the relationship. This paper aims to show which are the sociodemographic variables that influence, and to what extent, the intercultural competence of an individual.

An Axiomatic Approach to Evaluating Measures of Firm Resilience

Enrico Schötz — Wed, 13 Nov 2024 00:00:00 +0100

Decision-makers tend to highlight the importance of their companies becoming resilient. The goal nevertheless stays hollow if there is no way to quantify and visualize firm resilience. However current scientific works appear to lack the drive for a robust foundation and empirical evidence, despite the emergence of resilience as a prominent topic in business and management literature. Hence this research is motivated by the specific objective of advancing the theory of firm resilience, addressing the imperative need for measures that capture its dynamic nature by encompassing both absorptive and adaptive firm capabilities. The research presents a grounded view of firm resilience and culminates in a six-part axiomatization, outlining which properties a conclusive resilience measure should possess. Considering the interdisciplinary nature of resilience research, suggestions from engineering disciplines are classified and presented. Their compatibility with the axiomatization is assessed, revealing a clear trend towards quantitative resilience measures. Additionally, a match that inherits all properties is identified. A call for further empirical research on the validity of the metric is emphasized, urging the exploration of other metrics alongside, given that this paper offers substantial guidance for future adjustments to measures of firm resilience.

Concessions on Beaches and Concessions on Demand in the new Croatian Law

Goran Vojković — Wed, 13 Nov 2024 00:00:00 +0100

In 2023, after a full 20 years, the Republic of Croatia adopted a new legal framework for maritime domain with the enactment of the new Maritime Domain and Seaports Act. The new act addresses numerous technical issues related to Croatia's maritime domain and aligns concessions on maritime domain with the current European legal framework. However, this act regulates in a new way two important areas crucial for the hospitality industry. Firstly, it provides a very precise legal regulation of beaches, an exceptional strategic resource, which were inadequately regulated in previous legislation. Seaside beaches now have their own precise division, an organized method of management, concessions, and very precisely defined freedom of access to the beaches. Furthermore, for the first time, the new act allows concessions on request, specifying the type of concessions that can be sought by a hotel, camp, or tourist resort. In this article, we want to highlight the novelties brought by the new legal regulation, focusing on beaches and concessions on request - which could be significantly important for the further development of higher category hotel and hospitality businesses, as well as providing a greater variety of services on the Croatian seacoast.

Women Entrepreneurship in Croatia in International Perspective

Ana Udovičić, Dino Slavica — Wed, 13 Nov 2024 00:00:00 +0100

Differences in entrepreneurial activity between women and men arise from the cultural context and from the role of women in family life. Although the Constitution of the Republic of Croatia guarantees gender equality and all equal rights for both men and women, differences between men and women still exist, especially when looking at indicators related to the labor market, the possibility of advancement and the possibility of harmonizing private and business life. Women make up 51% of the total population in Europe, and 51.5% in the Republic of Croatia. This natural balance (with a small preponderance of women) is not present in the business or political sphere of activity. The purpose of this paper is to show the entrepreneurial activity of women in Croatia and to give insight into programs and projects to encourage the development of women in entrepreneurship. Furthermore, the paper will show the differences between men and women in four dimensions: economic inclusion and economic opportunities, education, health and life expectancy, and political empowerment.

Sustainable Agritourism: Integrating Emerging Technologies within Community-Centric Development

Ionela Samuil, Elena Loredana Stăncioiu, Andreea Cristina Ionica , Monica Leba — Wed, 13 Nov 2024 00:00:00 +0100

This paper introduces a system dynamics model that integrates emerging technologies in the pursuit of sustainable agritourism development within communities. Based on Society 5.0, this model aims to blend technological innovations with community-oriented approaches so as to redefine the agritourism landscape. The suggested framework picturizes an integrated and harmonious relationship between agritourism, emergent technologies and societal dynamics for achieving a holistic and comprehensive development paradigm. Through exploiting the potentials of Society 5.0, the model hopes to increase community participation, promote sustainability practices and create enhanced overall experience in agritourism. With the synthesis of systems’ dynamic principles and philosophy of Society 5.0, this study contributes to discussing future directions for agritourism development that concentrate on community-based tourism with technology integration in its path towards future growth trajectory.

Competition as a Catalyst for Innovation? Assessing SMEs’ Attitudes towards Digital Market Regulation and Competition

Ján Huňady, Peter Pisár — Wed, 13 Nov 2024 00:00:00 +0100

Expanding the digital economy represents a major challenge for EU competition policy and regulations. Despite their importance, small and medium-sized enterprises (SMEs) receive minimal attention regarding their perspectives on the issue. Hence, the main aim of the paper is to examine their attitudes towards digital market competition and its regulations. The paper analyses secondary data from the Flash Eurobarometer 510 survey with more than 12,800 observations from EU countries. Moreover, it also identifies potential factors affecting firms’ attitudes based on the logistic regression. Firms’ attitudes seem to be correlated with awareness of the EU competition policies for digital transition. Better-informed firms have more favourable attitudes towards market competition. They are increasingly perceiving competition as a catalyst for innovation. Moreover, they are increasingly reporting significant problems with the lack of competition when applying to digital platforms for customer outreach. Insufficient competition in the digital market appears to be a problem for a significant proportion of SMEs’. We also identified the sectors and countries experiencing the worst problems associated with limited competition in the digital platform market. Smaller firms and those with a long presence on the market are more supportive of the Digital Markets Act as an effective regulation.

Navigating Digital Transformation: A Survey Study on Agile Adoption Impact

Ivan Ramljak, Mirko Tajalić, Maja Brkljačić — Wed, 13 Nov 2024 00:00:00 +0100

Enhancing organizational agility is important for successful digital transformation. This study investigates the impact of agile practices on large organizations in Croatia, aiming to determine their effect on HR, process performance, clients, and technology, and to identify correlations among these dimensions. A survey of employees from large Croatian companies revealed that agile methodologies positively impact all organizational dimensions. Key findings indicate improvements in employee motivation, interpersonal relations, internal communication, team productivity, change management, and faster problem detection. Agile practices also enhance client satisfaction, communication, and user participation in product development. However, the adoption of cutting-edge technologies like AI and blockchain remains limited. Strong correlations among the dimensions suggest that improvements in one area positively influence others, underscoring the benefits of agile transformation. This study emphasizes the need for leadership support, cultural readiness, and continuous learning to drive digital change effectively. The findings provide actionable insights for organizations aiming to implement agile methodologies, highlighting their versatility across various sectors including public administration, healthcare, and marketing. By focusing on large companies in Croatia, this research adds a new regional perspective to the global discourse on agile and digital transformation.

A comparison of the Intangible Asset Related Standards, IAS38, IVS210 and ISA620 Using Similarity Analysis

Andreas Georgiou — Wed, 13 Nov 2024 00:00:00 +0100

This article attempts to describe the standards dealing with intangible asset treatment by multiple regulatory bodies and subsequently compare them using content and similarity analysis. The specific standards debated are IAS 38 from an accounting perspective, IVS 210 from a valuation perspective and ISA 620 from an auditing perspective. The core standard is IAS38 because the basic aspect is the treatment of internally generated intangible assets, namely hard science patents and software. These types of assets are the product of intensive R&D and considerable intellectual effort with high inherent risk. The similarity analysis is conducted using 2 tools, Voyant tools, which is used to conduct a portable document format text similarity analysis of the standards’ text bodies taking into account the 53 most frequent terms excluding stop words. The technique used is principal component analysis to calculate points representing each standard text on double axis scatter plot. Based on that analysis the most remote standard is ISA 620 which is excluded from the second phase of statistical analysis using SPSS version 25. IAS 38 and IVS 210 are separated into two themes: definition clarity and detail intensity, the former theme containing nominal binary variables and the latter scale variables. These variables are introduced in SPSS version 25 and various similarity and dissimilarity measures are calculated such as simple matching, Jaccard and Euclidean coefficient indicating that the similarity of the two standards is rather average in relative terms.

Positive and Negative Innovations on AI economic Perspectives in Modern Banking/Finance

Agnieszka Wójcik-Czerniawska, Zbigniew Grzymala — Wed, 13 Nov 2024 00:00:00 +0100

The study reviews key findings on the impact of banking growth and innovation on economic development, particularly focusing on Asian economies where the financial sector is less developed. Using secondary data, it expands the scope of analysis to more specific elements of development. While banking innovation's theoretical effects are vast, empirical findings are often less clear, as they focus on specific businesses and channels. The study highlights the importance of understanding the current state of the financial sector when assessing its role in growth. Artificial intelligence (AI) and Big Data are increasingly used in economic forecasting, offering predictive and decision-making capabilities. The research concludes that greater economic freedom, especially in cross-border financial markets, does not always benefit companies. International financial freedom can hinder development, while domestic financial freedom may support it. As weaker banks struggle to finance startups, the study suggests that financial freedom may yield varied results for economic and business growth. In regions with underdeveloped financial markets, like Asia, banks play a crucial role in fostering growth. The article emphasizes the importance of financial technology in shaping these outcomes.

Inter-Organisational Collaboration Networks in The Introduction Phase of Generative AI

Fumihiko Isada — Wed, 13 Nov 2024 00:00:00 +0100

The goal: This research is a preliminary report that analyses the inter-organisational collaboration networks related to generative AI (Artificial Intelligence), which has spread rapidly in recent years, and empirically clarifies the key players and their relationships in the business ecosystem during the introduction phase of the technology lifecycle. The methodology: Information on the collaborative relationships between organisations in the six months following the launch of Chat GPT4 in March 2023, which triggered the rapid expansion of the actual use of generative AI in companies, etc., was extracted from more than 100 major newspaper articles and press releases worldwide, and analysed using the method of social network analysis. The conclusion: The development and utilisation of generative AI is increasingly forming a business ecosystem with very diverse inter-organisational collaborations on applications and system devices, and each organisation is strategically positioning itself within the business ecosystem. The empirical analysis of the structure of the inter-organisational collaboration network has allowed an exploratory identification of various distinctive organisations in the business ecosystem.

The Usage of 5G Technologies for the Purpose of Business Improvement

Viktorija Jurić, Božidar Jaković, Ivan Jajić — Wed, 13 Nov 2024 00:00:00 +0100

The subject of this paper is to investigate the impact of 5G technologies usage on business improvement. The main is to analyse the attitudes, perceptions, and degree of acceptance of the application of 5G technologies. The main hypothesis was to confirm that with a high degree of acceptance of 5G technologies, the conditions for business improvement will be created. The primary research was conducted with a questionnaire on a sample of 122 respondents, and the main hypothesis is that the high level of acceptance of 5G technologies creates prerequisites for business improvement. In addition to the basic hypothesis, additional hypotheses were set: Knowledge of 5G technologies positively affects attitudes about the impact of 5G technologies, and perceived skill in using 5G technologies affects the perceived usefulness of 5G technologies in business. Based on the research results, it can be confirmed that the acceptance of the use of 5G technologies has a positive effect on business and collaboration. Also, there is a positive connection between the perceived skill of using 5G technologies and the perceived usefulness of 5G technologies in business, as well as a positive connection between knowledge of 5G technologies and the attitude about the impact of 5G technologies.

Determinants of R&D Value Reporting Bias: An Empirical Study in the EU

Andreas Georgiou — Wed, 13 Nov 2024 00:00:00 +0100

This study investigates the determinants of R&D value reporting bias in technology sector entities from six EU countries, including Germany and France, using data from 188 entities between 2006 and 2023. The research employs a mixed-method approach, including Pearson correlations, mixed model regressions, and binary logistic regressions, to analyse the relationships between financial leverage ratios, earnings per share, and the performance of intangible assets. The findings indicate significant correlations between financial structure metrics and the Net Present Value (NPV) ratios of intangible assets, suggesting that higher debt levels relative to assets enhance the performance of internally generated intangibles, while increased debt-to-equity and debt-to-capital ratios have a negative impact. Additionally, the study reveals the influence of regional factors and auditor rank on financial performance, emphasizing the complex interplay between financial metrics and the valuation of intangible assets. These insights contribute to understanding earnings management behaviours and provide practical implications for financial management in R&D-intensive entities.

Digital Agility in the Organization as a Response to Technological Changes: Analysis of the IT Sector in Croatia

Maja Vizjak, Marina Perić Kaselj, Ivan Balabanić — Wed, 13 Nov 2024 00:00:00 +0100

Digital agility is the answer to understanding and adapting to technological changes in business. Organizations continuously adapt to changes and the successful degree of adaptation to applications is decided for potential prosperity or the very resilience of business. The advantages that bring successful implementation in the form of digital agility through effective digital communication will be reflected in time management, processes will be accelerated and communication will be actively managed for quality. Open change organizations will shape their employees' attitudes towards digital processes and tools. Agile organizations are based on values and principles, which is achieved by taking active roles during working hours and through productive communication. The goal of this paper is to analyze digital agility through the dynamics of communication in IT sector organizations, which by their nature should be the bearer of technological changes. The methodology used in the research is the degree of contact with the business entity in the form of digital communication via e-mail, where the time period of receiving feedback is measured. The scientific contribution of this research is the analysis of the IT sector in Croatia as a strategic leader of change and investment in innovation and defining the development directions of the economy.

Fiscal Reform in Taxation: What is an Optimal Taxation System for the Republic of Kosovo?

Gjon K. Gjonlleshaj, Altina Kamberaj — Wed, 13 Nov 2024 00:00:00 +0100

This paper explores the Taxation system in the Republic of Kosovo. It researches the need and reasons for the optimal taxation system that the Republic of Kosovo should develop as part of the proposed Taxation reform (based on recommendation). The Republic of Kosovo is the newest country in Europe. Since 2000, one of its core pillars has been the Tax Administration, which serves as the primary public finance income generator. Its further development, reform, and adaptation with updated Taxation mainstreams is imperative. Taxation systems should implement the best practices in digitalization and innovation. The paper uses secondary data with analyzed findings based on the quantitative empirical approach. The findings show that there is room for the Republic of Kosovo to apply Taxation reforms to further enrich, innovate, and upgrade its Tax system. As stated, the country's economic and business development significantly depends on how its taxation system meets its development and strategic goals. This research paper concludes with concrete recommendations that the Republic of Kosovo is advised to undertake in reforming its Taxation system.

The Impact of Intelligent Parking Systems on Urban Mobility and the Role of Innovations in the Spectrum of Artificial Intelligence in the Electric Vehicle Industry

Cosmin Rus, Monica Leba, Marius Risteiu, Remus Sibisanu — Wed, 13 Nov 2024 00:00:00 +0100

In this paper, we investigate the impact of Smart Parking Systems (SPS) on urban mobility and the incorporation of technological innovations within the electric vehicle (EV) industry, focusing on Petrosani, Romania. As urban areas grapple with the challenges of rapid development, such as traffic congestion and inefficient use of parking spaces, SPS emerge as a crucial solution. This research presents a comprehensive analysis of Petrosani's current traffic and parking conditions, leveraging public opinion surveys and traffic flow studies to propose an efficient integration of smart parking systems. The study reveals significant public support for SPS, highlighting a community eager to embrace solutions that enhance urban mobility, reduce environmental pollution, and improve the quality of urban life. Our findings suggest that adopting SPS in Petrosani could lead to more effective traffic management, better utilization of parking resources, and a shift towards sustainable urban development. The paper underscores the need for strategic planning and community involvement in transitioning towards smarter, more sustainable urban ecosystems, setting a precedent for similar initiatives in other cities. This work contributes to the discourse on sustainable urban planning, emphasizing the practical implications and benefits of intelligent parking solutions in enhancing urban mobility and environmental sustainability.

Challenges of Industry Portfolio Management with Artificial Intelligence

Goga Alexandru Silviu — Wed, 13 Nov 2024 00:00:00 +0100

Artificial intelligence has evolved from early concepts like Turing's machine to today's advanced vision, machine learning and neural networks. AI revolutionizes various industries: manufacturing processes, financial services, healthcare and energy management. These applications highlight AI's role in augmenting human capabilities and driving industry innovation and efficiency. The paper aims to explore the intricacies and hurdles associated with integrating AI into the realm of industry portfolio management. The primary goal of this study is to critically assess how AI can optimize portfolio management in various industries. Methodologically, the paper adopts a multi-dimensional approach, analysing case studies across different sectors, and employing a comparative use of AI-driven and traditional portfolio management strategies. The conclusion emphasizes that while AI can significantly improve predictive accuracy and operational efficiency, its effectiveness is largely contingent on the quality of data and the adaptability of algorithms to dynamic market conditions. Secondly, the paper addresses the critical need for balancing technological innovation with ethical considerations and regulatory compliance, especially in data-sensitive industries. Finally, it suggests that the successful integration of AI in portfolio management requires a synergistic approach, combining technological prowess with human expertise to mitigate risks and capitalize on opportunities presented by AI advancements.

Two – Dimensional Modelling of Financial Data

Višnja Jurić — Wed, 13 Nov 2024 00:00:00 +0100

The article deals with modelling of two-dimensional financial data set using Weibull distribution extended to two-dimensional setting. The generalization in two dimensions is not direct, it goes through representation of one-dimensional asymmetric Laplace distribution. The characteristics of the new distribution are described, and parameters are estimated using the method of moments. Statistical package R is used to perform numerical search. At the end, the application of this new two- dimensional family of distributions is discussed.

Implications between Financial Literacy and Credit Card use among Retirees in Bosnia and Herzegovina

Mirko Palić, Zoran Najdanović, Natalia Tutek — Wed, 13 Nov 2024 00:00:00 +0100

Financial literacy is crucial in navigating complexities of personal finance, enabling individuals to make informed decisions about budgeting, saving, investing, and borrowing. Financially more literate individuals are better equipped to withstand economic uncertainties, achieve their financial goals, and secure their long-term financial well-being. The aim of this study was to investigate level of financial literacy among retirees in Bosnia and Herzegovina using the “Big Three” financial literacy questions and to connect the results to their credit card usage. Empirical research on 556 respondents showed a very low level of financial literacy/knowledge among retirees as well as a very low rate of adoption and usage of credit cards. Research results point toward need for better financial education of this segment of population in order to raise their financial wellbeing and consequently the life quality as retirees in CEE countries represent a low-income segment of consumers and therefore a financially vulnerable social group that needs better inclusion into society. Furthermore, the research results point toward market opportunities, for financial institutions operating on Bosnian market, to launch a specialized financial product such as credit cards that would be specifically tailored towards the needs of this particular market segment.