Business Commons^™

Alternative Energy Generation And Its Economic Impact On Developing Countries: A Case Study Of Albania, Kosovo, Montenegro, And Northern Macedonia, Ruzhdi Matoshi, Isa Mulaj

UBT International Conference

Energy as a comprehensive source of economic development has undergone transformation and is evolving into alternatives. Due to the concerns about pollution, energy generation is constantly seeking an alternative that is friendly to the environment, or at least with substantial lower harmful effects. This effort involves costs of investment, especially in developing countries. Investment in alternative, cost efficient and friendly environment energy is no longer the sole isolated objective of a country, thus it may involve several countries, especially neighboring ones to coordinate their efforts. This paper looks into the state and prospects of alternative energy in four small developing …

Globalization Of Banking Business And Risk Management, Arbiana Govori, Qemajl Sejdija

UBT International Conference

Risk management is a vital component of internal control and refers to the process of identifying and analyzing risks in achieving the organization's objectives and in defining a suitable risk mitigation response. This means:

✓Identification of the risk

✓Risk Assessment and Classification

✓ Assessing the organization's appetite for risk

✓ Prepare a Risk Response

Also, risk management should be reviewed and reported in order to monitor whether a risk profile is changing or not, to obtain guarantees that risk management is effective and to identify further action that is needed.

Typical problems related to risk management that are encountered are: …

Consumer Protection And Care In Kosovo, Hamëz Rama

UBT International Conference

Based on the principle, a state is made up of social communities, respectively society in general, while the consumption structure is made up of the individual, the family, the social communities, companies and institutions, but in a word they are all consumers. Kosovo after the war has accepted the market economy system, ie the law of value, competition, the supply and demand.

In economic systems dominated by a market economy, but also in Kosovo, consumer protection refers to infrastructure and legal provisions sponsored by the Government of the Republic of Kosovo and approved by the Assembly of the Republic of …

Control Activity And Monitoring As Coso Framework Elements And Their Impact On The Performance Of Entity: Case Study Republic Of Kosovo, Gresa Mjaku

UBT International Conference

This paper aims to investigate the impact of two elements of the COSO framework such as Control activity and Monitoring on the performance of Institutions of the Republic of Kosovo. Therefore, public institutions and audit agencies in our country need to work more than ever before to promote law enforcement, fight against corruption, honesty, the efficient use of public funds and the increase of government competencies and responsibilities in order to increase the performance of the entity. We employ primary data due to lack of data by secondary data from other relevant institutions. The data set includes a sample of …

Hadamard's Coding Matrix And Some Decoding Methods, Hizer Leka, Azir Jusufi, Faton Kabashi

UBT International Conference

In this paper, we will show a way to form Hadamard's code order n=2^p (where p is a positive integer) with the help of Rademacher functions, through which matrix elements are generated whose binary numbers {0,1} , while its columns are Hadamard's encodings and are called Hadamard's coding matrix. Two illustrative examples will be taken to illustrate this way of forming the coding matrix. Then, in a graphical manner and by means of Hadamard's form codes, the message sequence encoding as the order coding matrix will be shown. It will also give Hadamard two methods of decoding messages, which are …

Effect Of Leadership Evaluation By Employees In An Enterprise, Bardha Mulhaxha

UBT International Conference

CEOs are those who have the task of leading the company, building good relationships with others and achieving the objectives. All of this is achieved through human resources, the most basic resource of the company, which by working in their fields, make it able to meet the company's objectives and why not maximize profit. To date, in various companies, we have often encountered CEOs or managers who evaluate employees' performance from time to time, but rarely or at least we did not encounter employees who in their view evaluated the performance of their chiefs. This is because employees did not …

Vat Reduction In 8% And Impact On Household Budget, Mustafe Hasani, Vahide Hasani

UBT International Conference

Increased care, implementation, and greater importance in creating fiscal policies that impact in the economy and family consumption began after the declaration of Independence in 2008, when the first tax reforms were made. But the fiscal reforms called the "Fiscal Package 1" which started its enforcement by the end of 2015, especially the VAT reduced rate for household consumption from 16% to 8% had the main effect on the consumer basket and the family budget, which is also the main approach of this paper. Based on the analysis of many indicators, statistical data and questionnaire we have verified how much …

Modeling The Estimated Fundamental Value Of The Kosovo Commercial Banks, Florin Aliu, Fisnik Aliu, Arton Nuhiu, Lenka Dokoupilova

UBT International Conference

Valuation is an important component of the bank appraisal since it determines the financial position of the common stocks. The work identifies the deviation of the intrinsic value from the shareholders book value, not the market price of the Kosovo commercial banks. The study use accounting items composed from the audited financial statements of the 10 selected banks operating in the Kosovo banking industry. The methodology stands on the discounted cash flow model adjusted for the bank specific characteristics. The absence of the Kosovo Stock Market generated certain limitations during the valuation process where the cost of equity and beta …

Understanding Impact Of Professional Training On Work Performance, Besnik Skenderi, Diamanta Skenderi

UBT International Conference

Because of fast changes in technology, work processes and legislation there is a need for faster preparation of work labor, however formal education is failing to prepare people within required time and skills that are required by labor market. This paper is analyzing training needs for businesses and available training that are offered by public and private institutions. For this paper, case of TAK, Kosovo Telecom and UBT was analyzed and findings are compared with training's that vendors are offering within UK and USA. In addition also findings from national Accreditation Agency where discussed, regarding professional schools.

Cost Analysis On Cost Of Consumers In Terms Of Small Markets. (Case Study, Vlora), Elmira Kushta, Fatmir Memaj

UBT International Conference

This article deals with the observed changes in consumer spending in a region of Albania following the fall in market sales prices. The paper focuses on the statistical study of a local consumer system. In the meantime, we are striving for greater recognition. Respectively in a more generalized and mathematical perspective, the generalized customer or consumer is the user and consumer as the behavioral agent. The purpose of the paper is to identify the best or most appropriate model for the behavioral profile according to the profile determined by the inductive analysis of the variables themselves. For this reason, part …

Social Aspects Of Logistics - Social Logistics And Socially Oriented Business Logistics, Vanya Banabakova, Canko Stefanov

UBT International Conference

Logistics continuously expands its application areas. In modern conditions, there is a need to apply logistics in areas not related to its traditional applications such as military and business spheres, resulting in the identification of a third area with the name social logistics. For the purposes of this paper, a number of scientific approaches and methods have been applied, such as system approach, comparative analysis, critical analysis, synthesis and others. Social logistics aims to introduce a social (human) factor into the systems and to apply logistic principles and methods in solving the problems of society. Social logistics can be defined …

The Impact Of Effective Management On Economic Growth, Ylber Limani, Florentina Musliu, Blerina Hoxha

UBT International Conference

Effective management implies truthful and satisfactory performance of management activities. A high performing productive management typically perform activities effectively and efficiently. Accordingly, companies and countries can be economically viable when the available human, physical, and financial resources are effectively and efficiently managed to ensure the economic growth and well-being. Growth is most powerful organisational device to compete and to sustain by creating profits and by providing prosperity. Nevertheless, the essential management principles alone, could not provide sufficient support to achieve and sustain the ultimate goal of growth and affluence. Therefore, deep focusing on management effectiveness is needed to achieve higher …

Factors Affecting Knowledge Management In Organizations, Dugagjin Sokoli, Andrej Koren, Edmond Hajrizi

UBT International Conference

It is a strategic process that organizations use to boost learning and performance. Mainly, companies use it to attain short and long-term ways to use knowledge to the entity. In this field, knowledge can either be explicit, implicit, or tacit. The framework asserts that knowledge management strategies are affected by whether a company tries to measure its information resources and the

Performance of its knowledge activities. The four dimensions of knowledge management, namely, knowledge acquisition, conversion, application, and protection have a definite link with the two aspects of organizational performance. It is important to use appropriate support systems to generate, …

The Impact Of Organizational Changes On Human Capital Performance And Motivation, Kaltrina Bunjaku Pasuli, Leonita Braha Vokshi

UBT International Conference

In the recent years telecommunication industry in Kosovo has experienced a great development. To be more competitive organization must have a competitive advantage to be able to serve customers more effectively and efficiently than other competitors. Change is very important in any organization because it helps them compete with other organizations and leads them to realize their goals.The main aim of this paper is to assess the impact of organizational change on employee’s motivation and performance. The research is executed with description research based on quantitative and qualitative methods based on statistical analysis, correlation and OLS regression. The results of …

Clustering - Good Or Bad Idea!?, Ermira Shehu, Osman Sejfijaj, Fatmir Memaj

UBT International Conference

Clusters tend to be a key factor for a successful macroeconomic development and microeconomics business environment. Execution of cluster projects is one of the strategic objectives of many counties, as it contributes to the economic development of regions and increases the level of innovative development of enterprises which form a cluster. Cluster mapping efforts create a set of data and insights on economic activity across industries and locations. With this paper we will try to present the advantages and disadvantages of being in cluster. All huge projects have obstacles and benefits, but in this paper we will try to summaries …

International Risk Analysis Based On The Portfolio Diversification: The Case Of Prague Stock Exchange, Florin Aliu, Besnik Krasniqi, Emad Attia Mohamed Omran, Amir Zylfiu

UBT International Conference

Stock exchanges are constantly prone to instability caused by asset bubbles. Risk level within the stock exchanges stands as the main concern for the financial in-vestors. Stock prices are influenced by the choices completed on the domestic and international environment. The study intends to measure the risk level of the Pra-gue Stock Exchange (PSE) from the internal risk perspectives. Portfolio diversi-fication formula has been implemented to obtain the risk level of the PSE from 2000 till 2017. Stock prices and the trade volume of the listed companies in the PSE were collected from the Thomson Reuters Eikon database. PSE has …

Entrepreneurial Marketing Paradigm-Why It Is Important For Kosovar Entrepreneurs?, Nora Sadiku Dushi

UBT International Conference

Entrepreneurial marketing is a relatively new concept that has emerged at the intersection of the two very extensively researched fields such as marketing and entrepreneurship. It is considered as a new marketing paradigm that is suitable especially for small and medium-sized enterprises who due to their limited financial and human resources are unable to perform the traditional marketing principles. Having in mind that this research field has not yet sufficiently penetrated the Balkans, this paper will provide some insight into this relatively new concept that has gained the attention of many researchers from all over the world. This paper will …

Cost Driver Based Internal It Cost Allocation: A Case Of A Medium-Sized Austrian Financial Service Provider, Andrea Schnabl

UBT International Conference

IT has a high share of the total costs at information processing companies. Though not only minimal IT costs are relevant, but also effective use of IT from the long term business perspective. Decisions on IT investments are made based on information about costs and benefits commonly provided by controlling in-struments. To identify direct and indirect costs of IT services, an internal IT cost allocation (IT activity allocation or IT chargeback) is being used by the vast ma-jority of companies, especially in IT-related industries. The allocation of shared IT infrastructures and overhead costs to IT services, as well as of …

How Printing Industry Meets Technological And Financial Challenges, Liudmila Guzikova

UBT International Conference

Printing and publishing industry is currently undergoing a period of transformation caused by powerful technological shifts, leading to a change in the business model of the industry. Instead of being a producing industry, printing is becoming a part of the service industry. The economic situation in the printing industry is difficult. The consequences of competition from digital technologies are a decrease in investment, profit and sales and an increase in operating costs. The changes could not but affect the structure of the industry, its financial performance, the activities of individual companies and their financial situation. Sustainability of the industry was …

Remittances Support The Growth Of Developing Countries, Shpresim Vranovci

UBT International Conference

Emigration plays a fundamental role in shaping the economic, social, and political developments in the Kosovo. In fact, in the last decades, no other phenomenon has influenced the country more than emigration. Even in the case of best social-economic scenarios for the near future, it is reasonable to assume that emigration will persist, as shown in examples of other European countries, where emigration, once started, lasted for decades or even centuries. A new strategic vision for the country's development must be defined, which must imply the shifting from the consumption growth model financed by remittances and building a model based …

Internet Of Things To Help Sdgs Implementation: A Case Of Albania And Kosovo, Opportunities And Challenges, Aida Bitri, Galia Marinova, Edmond Hajrizi

UBT International Conference

Internet of Things (IoT) seems to be one of the strongest transforming technological trends. Developed countries are investing a lot of resources in re- search and infrastructure to provide all it is needed for a better future through IoT. The aim of the paper is to highlight the potential use of IoT in developing countries, such as Albania and Kosovo, as a means to achieve their sustainability goals based on Sustainable Development Goals (SDGs). Both countries are mak- ing considerable efforts toward these objectives. This paper analyzes opportuni- ties and challenges of IoT implementation in order to help Albania and …

The Effect Of Accepting External Influence On Emotional Labor: A Study On White-Collar Workers In Turkey, Buket Akdol, Gamze Guzin Kazakoglu

UBT International Conference

It was many years after Industrial Revolution that the threat child labor and working under inhumanitarian conditions poses as physical burden to laborers and the severity of the fact that they had to work for many hours under such ardous conditions were realized. However, as industry developed and the concept of being a laborer evolved into a task that requires emotional assets of laborers other than physical burden as well, the “emotional labor” of workers was started to be investigated as a concept. First brought up by American sociologist Arlie Hochschild in 1979 in her book “The Managed Heart” that …

Corporate Governance In Insurance Companies – Need Or Trend?, Vesna Paunkoska Dodevska, Bashkim Nuredini

UBT International Conference

In recent decades corporate governance is very actual topic, especially in financial institutions, and more and more investors and regulators in the insurance industry have insisted on establishing an adequate corporate governance system. But what exactly is corporate governance? Is it just a trend or a real need for the insurance companies?

Good corporate governance is undoubtedly necessary to maintain a fair, safe and stable insurance sector that will protect the interests of insurers, which in return will contribute to the stability of the financial system as a whole. The insurance industry, like other parts of the financial system, is …

Money As A Human Invention: One More Look At Their Evolution, Vanya Tsonkova, Valentina Stoyanova

UBT International Conference

The article deals with the authors’ reading on the genesis of money from commodity money to digital money and crypto currencies. The authors try to define the nature of money despite the diversity and changes of their forms. The determinants imposing expansion of geographical scope in the use of certain currencies are analyzed. The authors think that there are two independent ways for the future (r)evolution of money. One is the development of the classic form of money – gold, but especially as a store of value. The other way is the development of digital forms of certain powerful national …

International Conference On Management, Business And Economics, University For Business And Technology - Ubt

UBT International Conference

UBT Annual International Conference is the 8th international interdisciplinary peer reviewed conference which publishes works of the scientists as well as practitioners in the area where UBT is active in Education, Research and Development.The UBT aims to implement an integrated strategy to establish itself as an internationally competitive, research-intensive university, committed to the transfer of knowledge and the provision of a world-class education to the most talented students from all background. The main perspective of the conference is to connect the scientists and practitioners from different disciplines in the same place and make them be aware of the recent advancements …

International Conference On Mechatronics, System Engineering And Robotics & Information System And Engineering, University For Business And Technology - Ubt

UBT International Conference

UBT Annual International Conference is the 8th international interdisciplinary peer reviewed conference which publishes works of the scientists as well as practitioners in the area where UBT is active in Education, Research and Development. The UBT aims to implement an integrated strategy to establish itself as an internationally competitive, research-intensive university, committed to the transfer of knowledge and the provision of a world-class education to the most talented students from all background. The main perspective of the conference is to connect the scientists and practitioners from different disciplines in the same place and make them be aware of the recent …