FACTORS AFFECTING GROWTH OF SMALL BUSINESS: THE CASE OF A DEVELOPING COUNTRY HAVING EXPERIENCED TRANSITION

The purpose of this research is to examine the impact of factors, related to important strategic characteristics, affecting growth of small business, particularly considering a specific economic and cultural context, related to a developing economy and post-socialist country experiencing transition, as is the case of the Republic of Macedonia. For the purposes of this study, 305 questionnaires were collected, selected at random from several lists containing small and medium businesses on the territory of the Republic of Macedonia. Multiple linear regression was used to determine the relationship between the dependent variable, growth and six independent variables, grouped into five constructs: the resources and processes of small businesses, skills and knowledge possessed by the owner and employees of small business, the strategic approach and orientation of small business, the degree of sophistication of the planning activity, and the nature of external environment of small business. Based on the findings presented in this research, empirical support for the proposed model of growth factors of small business has been found. The results strongly confirm three out of six hypothesis. In other words, according to the results, three independent variables: limitations in the internal environment; additional forms of education of the owner; and development of a strategic plan have statistically significant impact on the growth of small business. The theoretical and practical implications of this research refer to identifying and stressing important factors that can stimulate growth of small business in a specific economic and cultural context of developing economy and post-socialist country experiencing transition

A STORY ON LEADERSHIP STYLES FROM MACEDONIAN COMPANIES: COMPONENTS OF TRANSFORMATIONAL VS. TRANSACTIONAL LEADERSHIP INFLUENCED BY ASPECTS OF EMOTIONALL INTELLIGENCE

The purpose of the research is to empirically evaluate leadership behavior of managers, focusing on transformational vs. transactional leadership at the same time exploring the relationship between emotional intelligence and transformational leadership in a specific economic and cultural setting, as the Republic of Macedonia. Questionnaire-based survey on managers at different management levels in Macedonian companies was conducted in order obtain the data necessary for evaluating the leadership styles and testing the proposed hypotheses The data was analyzed using descriptive statistics and hierarchical regression analysis. Results indicate that leaders in Macedonian companies show higher affection towards transformational leadership. The ability to perceive and understand emotions and the ability to manage emotions have a positive impact on transformational leadership style. As a theoretical and practical implication of research, we aim to generalize the idea for the positive relationship between the emotional intelligence and transformational leadership by confirming the applicability of the model that examines this relationship in the case of the Republic of Macedoni

E-UČENJE U RUKAMA GENERACIJE Y I Z

There have been a number of papers revolving around e-learning, since technological advancement has triggered interest and development for all online platforms. Still, the application of e-learning is not merely a technological solution, but a process involving many diverse factors such as social and behavioral contexts. The paper primarily focuses on the basic features of the most relevant generations currently representing the core workforce, Generation Y and the upcoming Generation Z. This will form the basis for assumptions which will be tested with regard to the troubling labor market, at the same time connecting these generations with considerations about e-learning. Based on deductive reasoning, the focus is on the types of training, with a discussion of the main aspects and content of this type of learning. Despite the theoretical discussion, appropriate practical empirical research including the members of the mentioned generations and their applications of e-learning has been incorporated. Additionally, several relevant conclusions are made taking into account different variables related to e-learning based on a sample consisting of members of Generation Y and Generation Z. Th e research will present certain indications related to generations Y and Z, their orientation and willingness to use e-learning, primarily resulting from the characteristics and availability of the appropriate information technology. Although the research is rather new it should be noted that Generation Z was born and raised with the web, they are digital-centric and technology is their blood. This paper should be given its practical and applied dimension by conducting relevant research. Th is analysis will off er insights into significant issues concerning e-learning and provide the foundations for further discussion on the trends related to the generation currently present as the dominant workforce and their attitude towards e-learning. The limitations of the research are embedded in the struggle to measure some of the differences and characteristics within the different generational groups.Otkada je tehnološki napredak potaknuo zanimanje za sve online platforme kao i njihov razvoj pojavio se veći broj radova usredotočenih na e-učenje. Ipak, primjena e-učenja ne predstavlja samo tehnološko rješenje, već je riječ o procesu koji obuhvaća brojne i raznovrsne čimbenike kao što su društveni čimbenici i oni povezani s ponašanjem. Ovaj se rad prvenstveno bavi temeljnim odlikama najrelevantnijih generacija koje trenutno predstavljaju radnu snagu – generacijom Y i nadolazećom generacijom Z. To je temelj za pretpostavke koje će se ispitati s obzirom na problematično tržište rada, istovremeno povezujući te generacije s razmatranjima o e-učenju. Uz pomoć deduktivnog rasuđivanja, u središtu zanimanja su vrste obučavanja uz raspravu o glavnim aspektima i sadržaju ove vrste učenja. Pored toga, iznijet će se nekoliko relevantnih zaključaka s obzirom na različite varijable povezane s e-učenjem na temelju uzorka koji se sastoji od pripadnika generacija Y i Z. Istraživanje će iznijeti određene pokazatelje povezane s generacijama Y i Z, njihovom orijentacijom i spremnošću da koriste e-učenje, a koji su prvenstveno rezultat odlika i dostupnosti prikladne informacijske tehnologije. Iako je istraživanje prilično novo, treba napomenuti da je generacija Z rođena i odrasla uz internet, da su usmjereni na digitalno, a tehnologija im je u krvi. Ovaj bi rad trebao dobiti praktičnu i primijenjenu dimenziju provođenjem relevantnih istraživanja. Ova će analiza ponuditi uvid u važna pitanja u pogledu e-učenja te pružiti temelj za daljnje rasprave o trendovima povezanima s generacijom koja trenutno čini dominantni dio radne snage te o stavovima pripadnika te generacije u pogledu e-učenja. Ograničenja istraživanja izviru iz poteškoća u mjerenju određenih razlika i odlika različitih generacijskih skupina

The impact of small and medium sized enterprises in the development of health tourism in Macedonia

Considering the theoretical approach of studying alternative forms of tourism, this paper main objective is investigating the concept of health tourism as a form of alternative tourism, at the same time discussing specific characteristics of health tourism both at the side of supply and demand. Furthermore, the different aspects should present links between tourism and health, as a structural element of this discussion. In the empirical section of the paper, a practical research is conducted that aims to improve the understanding of the factual situation in light of small and medium sized enterprises (SMEs),. Hence, the readiness of enterprises to offer the required services in the segment of health tourism, as well as different related business activities to such, as financing and innovations. In this context the paper confirms the basic hypothesis that the development of health tourism in the country depends upon the presence of small and medium sized enterprises, which are initiators of supply in the sector of health tourism. Based on the results of the survey a concept for the for the further development of health tourism is proposed

MILLENNIALS CHANGING THE GAME: THE NEW GENERATIONS CHALLENGING THE WORKPLACE

Purpose: With a substantial presence of Generation Y members in the workforce and a growing number of Generation Z employees, managers are increasingly confronted with the challenge of navigating intergenerational differences among employees. In this research endeavour, the authors sought to explore the anticipated impacts of the emerging generation on work dynamics. Specifically, the objective is to discern potential disparities among generational cohorts concerning their attitudes toward work centrality and how these disparities might influence work engagement, with a particular emphasis on Generation Z. Methodology: The research endeavour was based on data from 204 participants spanning various generational cohorts aged between 19 and 48 years. The survey gathered data on the respondents’ demographic, work centrality, and work-related aspects and well-being. A Spearman’s rank-order correlation and a t-test were used for data analysis in SPSS. Findings and implications: The findings revealed a significant correlation between age and work engagement, as well as between work centrality and work engagement, suggesting nuanced relationships within the diverse age groups in the workforce. Limitations: The study mostly concentrated on the research context of the Republic of North Macedonia, leaving space for cross-regional and cross-country studies. Originality: As the workforce becomes increasingly diverse in terms of age, newer generations are instigating a transformation in workplace values, consequently shaping a novel professional environment. This leads to a growing interest in academic and practitioner circles. Yet, after an extensive search query in the Scopus database, it was found that there were very few articles detailing the differences in work centrality and work engagement levels among different age groups. So, this study will attempt to fill this gap

FACTORS AFFECTING GROWTH OF SMALL BUSINESS: THE CASE OF A DEVELOPING COUNTRY HAVING EXPERIENCED TRANSITION

The purpose of this research is to examine the impact of factors, related to important strategic characteristics, affecting growth of small business, particularly considering a specific economic and cultural context, related to a developing economy and post-socialist country experiencing transition, as is the case of the Republic of Macedonia. For the purposes of this study, 305 questionnaires were collected, selected at random from several lists containing small and medium businesses on the territory of the Republic of Macedonia. Multiple linear regression was used to determine the relationship between the dependent variable, growth and six independent variables, grouped into five constructs: the resources and processes of small businesses, skills and knowledge possessed by the owner and employees of small business, the strategic approach and orientation of small business, the degree of sophistication of the planning activity, and the nature of external environment of small business. Based on the findings presented in this research, empirical support for the proposed model of growth factors of small business has been found. The results strongly confirm three out of six hypothesis. In other words, according to the results, three independent variables: limitations in the internal environment; additional forms of education of the owner; and development of a strategic plan have statistically significant impact on the growth of small business. The theoretical and practical implications of this research refer to identifying and stressing important factors that can stimulate growth of small business in a specific economic and cultural context of developing economy and post-socialist country experiencing transition

Generational differences in achieving work-life balance

Each generation is influenced by broad forces that create common value systems distinguishing them from people who grew up at different times. Reaching balance between life and work is an intangible ideal considered to be a complete fairytale. But by making deliberate choices about which opportunities they’ll pursue and which they’ll decline, rather than simply reacting to emergencies, leaders can and do engage meaningfully with work, family, and community

HR BRANDING AND THE POTENTIAL VALUE: EMPIRICAL EVIDENCE AND PRACTICAL IMPLICATIONS

Despite the growing popularity of the employer branding concept, academic research on the topic is limited; this is pivotal and pioneer research in the Republic of North Macedonia. This research investigates the possible factors that might affect the specific dimensions of firms’ HR branding, such as employer branding, internal branding, and total rewards branding. Different parametric and non‐parametric tests were run to determine if there were group differences in employer branding, internal branding, and total rewards branding scores between groups within eight evaluated variables divided into three categories: demographics of respondents (age, gender, and educational level), firm characteristics (size, industry sector, and ownership origin), and professional characteristics of respondents (job level position and customer contact level). The results confirm the expected differences in some of the evaluated HR branding dimensions between employees with different professional characteristics (job level position and customer contact level)

E-learning in the hands of generation Y and Z

E-learning application is not merely a technological answer, but a process of many diverse factors such as social and behavioural frameworks. In first line the paper sets focus on the basic features of the most relevant generations currently representing the core workforce, generation Y and the upcoming generation

Generational differences in achieving work-life balance

Each generation is influenced by broad forces that create common value systems distinguishing them from people who grew up at different times. Reaching a balance between life and work is an intangible ideal considered to be a complete fairytale. But by making deliberate choices about which opportunities they’ll pursue and which they’ll decline, rather than simply reacting to emergencies, leaders can and do engage meaningfully with work, family, and community