Showing papers in "Ecoforum in 2017"

The potential implications of indulgence and restraint on service encounters in tourism and hospitality

Abstract: This conceptual paper aims to explain and discuss the role and the potential of a relatively recently coined cultural dimension of indulgence vs. restraint on service encounters in tourism and hospitality. Although the indulgence and restraint dimension may be significantly relevant for the tourism and hospitality sector, an investigation of tourism and hospitality journals shows that there is a clear lack of research on the topic. The study puts forward that indulgence-restraint dimension has important supply and demand side implications both from the point of customers and service staff.

Improving content marketing processes with the approaches by artificial intelligence

Abstract: Content marketing is today’s one of the most remarkable approaches in the context of marketing processes of companies. Value of this kind of marketing has improved in time, thanks to the latest developments regarding to computer and communication technologies. Nowadays, especially social media based platforms have a great importance on enabling companies to design multimedia oriented, interactive content. But on the other hand, there is still something more to do for improved content marketing approaches. In this context, objective of this study is to focus on intelligent content marketing, which can be done by using artificial intelligence. Artificial Intelligence is today’s one of the most remarkable research fields and it can be used easily as multidisciplinary. So, this study has aimed to discuss about its potential on improving content marketing. In detail, the study has enabled readers’ to improve their awareness about the intersection point of content marketing and artificial intelligence. Furthermore, the authors have introduced some example models of intelligent content marketing, which can be achieved by using current Web technologies and artificial intelligence techniques.

An eye tracker analysis of the influence of applicant attractiveness on employee recruitment process: a neuromarketing study

Abstract: Tourism sector is one of the largest service sectors in the world economy both in terms of revenues and the numbers of tourists involved. One of the structural problems in the Turkish tourism industry is the high level of labour turnover. This study aims to explore the role and influence of attractiveness/attractivity on the recruitment process in the tourism and hospitality sectors. The study particularly aims to measure the influence of attractiveness on the selection of job candidates by managers involved in recruitment. Particularly, the study aims explore to what extent managers act rationally or under the influence of Pavlovian conditioning in making their recruitment decisions. That is to what extent managers resort to heuristics, i.e. shortcuts regarding attractiveness of job applicants for backstage positions in a hotel. The study has used a neurological data gathering tool, the Eye Tracker (ET, to determine the influence of attractiveness on the recruitment decisions of managers in the hospitality sector .

Some aspects of national economic doctrine

Abstract: Doctrines which substantiated introduction of market economy elements and priority of development of real sector , e.g. industry, at certain stage of the development of national economy have held an important place in the history of economic thought. Classes were the very first to develop such doctrines. (Silagadze, A., 1996, 2000, 2001, 2006-2016; Kharitonashvili, 2008; Silagadze, A. and Atanelishvili, T., 2006-2007, 2010-2011, 2013-2014). The issue was quite challenging at the first stage of building capitalism in Georgia (19th century). Niko Nikoladze, a Georgian public figure (1843-1928), emphasized the high priority of the issue in those times. (Nikoladze, N., 1960-2003; 2006; Gamezardashvili, D., 1983; Janelidze, O., 1988; Silagadze, A., (Editor), Atanelishvili, T., Goshadze, G., (Edit.), Demetrashvli, T., Zurabishvili, V. (Edit.) - 2005; Silagadze, A. and Atanelishvili, 2004). His attitudes are still important in post-Soviet Georgia which heavily depends on import. The fact is that instead of using rich local resources, Georgia tends to import goods which the country has a real ability to produce itself. Poor development of real sector of economy has remained an Achilles' heel for years. Tourism is a priority for the country, but during economic crises tourist flows stop and if there is no alternative, the country will face a deep crisis. (valchrelidze, A., Silagadze, A., Keshelashvili, G., Gegia, D., 2011) According to the conclusion made in this article, Nino Nikoladze's doctrine which complies with "classic" attitudes, complies with both "classic" and national economic doctrines of Germany. It also complies with Ilia Chavchavadze's economic doctrine with the difference that Ilia believed that agriculture was of highest priority while Niko Nikoladze believed industry to be the most important. In general, his economic doctrines implies priority development of national industry, deepening of west-east sea and railway ties, construction of ports, supporting of export, careful demilitarization, and improvement of market mechanisms of price formation, etc.

Organization performance and enterprise risk management

Abstract: Enterprise risk management (ERM) is an integrated approach to manage the risks of companies. Despite the wide adoption of ERM into companies' organizational processes, there are neither clear standards for ERM nor ground based theories about the outcome of it. This paper gives an overview of scientific research in the topic of ERM by comparing recent academic papers which focus ERM in the context of performance evaluation or effectiveness by categorizing and evaluating each source against its limitations. The limitations are used to develop a unified view on the question of how ERM influences performance of organizations. This also involves aspects of measuring the current status of ERM within companies and the effects of ERM on the other side. This paper shows that there is diversity in scientific literature of how to measure performance in the ERM-context. The authors identify reasons for that and suggest approaches to solve the problem by identifying best-practice approaches and a generic framework on how to use them to improve ERM-assessment in practice as well as research

The effects of exchange rate on economic growth in the republic of macedonia

Abstract: The purpose of this paper is to analyse empirically the effects of exchange rate on economic growth in the FYROM. We apply the OLS approach to estimate the regression equation and present the model that analyzes the impacts of exchange rate on economic growth. As the dependent variable is considered real GDP as representatives of economic growth, and as independent variables besides the variable of real exchange rate, are reviewed a range of other macroeconomic variables like consumer price index, trade openness, the monetary aggregate (M2), current account balance and real interest rate. Also in the model is incorporated an artificial variable (dummy) to explore the effects of the global financial crises. Further, it is made a long-term analysis of the linkage between real exchange rate and economic growth, using dynamic VAR model and Granger causality test. The empirical results indicate that real exchange rate positively affects the economic growth. Thus, we found out relevant argument that support the current regime i.e. fix regime of the exchange rate which ensures macroeconomic stability of the country. Taking into consideration the euroization, exchange rate pass through effect and credibility, introducing a float exchange regime is likely to induce more costs than benefits for the economy, as the global financial crisis of 2008 proved that still country face the lack of complete credibility of the national currency, monetary and fiscal policies. This is one of a rare attempt of estimating the effects of exchange rate on economic growth in FYROM using the VAR model and Granger causality test. Although the VAR model and Granger causality test performs well, the results should be interpreted with caution.

From local to global with city branding

Abstract: Brand strategies are becoming more and more common to all of us, irrespective of the field we carry our day to day activities: trade, politics, sports, art, education, fashion, everything is branded. This paper proposes an analysis of city branding process as a response to the local versus global debate, highlighting the city branding status in Romania, from the European perspective, as a first step, and further as an opportunity of accessing global community. In reaching this point, the paper provides a broader examination of city branding process, focusing on few successful city branding stories. The paper uses the experience of other Central Eastern European cities with which Romania shares the same (at a certain degree) political, social and economic background, to notice the similarities or differences between the cities of Romania and other countries’ strategies. Second data analysis will offer supplementary information about the effectiveness of city brand strategies. According to our research findings, the city brand is still in its early stages in Romania. Key words: city brand, globalization, local, Romania JEL Classification: M30, O18

Identifying the main determinants of retention in Jordanian hospitals. An empirical analysis based on McCloskey/Mueller Satisfaction Scale

Abstract: The paper aims to identify the main determinants of job satisfaction and intention of retention in Jordanian hospitals using a sample of 325 employees from six hospitals at the level of the year 2015. In order to do that, we used McCloskey/Mueller Satisfaction Scale (MMSS), applying logistic regression models for measuring the intention of stay among health employees. The study also analyzed the differences between socio-demographic variables and the retention and satisfaction factors using t-test and ANOVA analysis. The empirical results revealed that the main job satisfaction factors that could be considered as predictors of the intention of retention are satisfaction related with recognition, satisfaction with extrinsic rewards and satisfaction with professional opportunities. A significant impact on the decision of remaining employed has also the socio-demographic variables like type of hospital, age, and graduation degree and time experience in hospitals. The findings revealed that the financial incentives are very important but also non-financial incentives are fundamental in enhancing motivation among health employees.

Influence of food labeling awereness on healty behavior of georgian consumers

Abstract: The current study evaluates the development and perspective implication of social marketing interventions for empowering healthy life and well-being of the population in Georgia The objective of the research is to analyze the impact of food labeling for healthy behavior change of Georgian consumers The study revealed the strong correlation between awareness and education of consumer on food labeling and healthy behavior changing One of the important factors of changing healthy behavior are increasing awareness and knowledge in food labeling among the general publics Despite that Association Agreement with Europe requires implementation of new obligations regarding food security and nutrition policy Georgia faces challenges in this regard The majority of the consumers are not satisfied with the food labeling in the local market It is urgent to provide such public health policy, that has the effect of improving the availability, affordability and appropriateness of healthy behavior of the consumers Consolidated work of government, business and civil society should be guaranteed for encouraging healthy behavior for the well being of the population Social marketing promotion strategies such advertising, public relations and sales promotion have a positive role to encourage of consumer attention on food labeling

What triggers a negotiation – an economic or a social goal?

Abstract: Negotiation is a resource that, used correctly, can make the difference between success and failure and, at the same time, it is present in all activity fields, from economic to social or environmental. Therefore, the importance of the understanding of the negotiation process is paramount for all those interested in improving their own negotiation skills or in training others to do so. The present paper is focused on the beginning of the negotiation process: the objectives of the research were to assess the level of the propensity to negotiate and of the perceived right to negotiate and to observe if they are stimulated by the nature of negotiation goal – economic and self-advocacy, on one hand, and social and other-advocacy, on the other hand. Results indicated high levels for propensity to negotiate and right to negotiate in the social goal case and low levels for the economic goal. The nature of the objective influenced both the propensity to negotiate and the perceived right to negotiate, favoring the social, other-advocacy, goal: people believed there were higher chances that they would start a negotiation targeted towards a social goal compared to one that was economically and self-advocacy oriented; they also felt more in title to negotiate when they pursued a social, other-advocacy, objective (p 0.05).

Smart city applications built on big data technologies and secure iot

Abstract: Smart city represents an emerging topic because efficient city management is beneficial for both government and private sector businesses. IoT envisions to connect billions of sensors to the Internet and expects to use them for efficient and effective resource management in Smart Cities. An organisation collects data analyses it and uses the results as an input for decision making processes. The paper provides an overview of the smart city concept relying on IoT and Big Data technologies, an overview on Smart City development in Romania and describes four Smart City national solutions. Their benefits are efficient resource utilization, increased quality of life, higher levels of transparency and openness towards citizens. A smart city uses digital technologies or information and communication technologies (ICT) to enhance quality and performance of urban services to make lives of citizens better. It becomes easier to navigate for visitors, and more serendipitous for locals. City officials and municipal governments are provided with a completely new way to connect with citizens and visitors and a city that is more connected to its people works and feels better.

Budgetary transparency, e-government and corruption: new evidence from panel data approach

Abstract: The effect of transparency indicators on corruption such as budget transparency, e-government, and regulation quality has received considerable attention in recent years. This paper gives some new evidence on this issue using an indicator of open budget index, e-government index and, regulatory quality as transparency indicators. From this perspective, this paper estimates the impact of regulatory quality, e-government index and, open budget index on corruption using unbalanced panel data analysis for selected 48 countries over the period of 2004 to 2015. The results of the analysis reveal that regulatory quality, budget transparency, and e-government indexes have positive and statistically significant effect on corruption.

Green economy: challenges and opportunities

Abstract: Financial crisis has discovered new philosophy of Green Economy. Green economy facilitates the implementation of sustainable development. There are several strategies to implement the greener economy. The beginning is made in several countries on green economy. It is encouraging but problems are persisting. Achieving sustainable development is the ultimate object of greener economy. Green economy faces innumerable challenges. Finance and technology remain the biggest challenges. National economic policies and global policies do not sail through successfully when there is global financial crisis.

Sibiu between european capital of culture and brexit: city brand perspective on citizens

Abstract: City branding represents a particular category of coomercial branding, aiming at attracting resources to the citie in a way that ensures the the wellbeing of the citizen. Sibiu has embraced the EU cultural challenge and transformed European Capital of Culture (ECoC) into a success city brand by culture strategy, certainly improving the liveability of the city. Ten years later, Sibiu, as a small-medium sized cultural city with strongly proved European valences might be facing a similar challang. Its reaction is totally different. This paper sheds the lighs of the city on the citizens, as stakeholders, publics or cunsumer of the city, revealing a possible explanation of this different behaviour of Sibiu. The research is based on in-depth interviews conducted in the summer of 2016, aiming at identifying the atitudes, opinions and reactions to BREXIT. The main conclusion is that the interviewed persons favourably reacted to the city development by culture as an expression of history, identity, personal achievement, while politics is the attribute of just some part of the city. The interviewed persons oscilated very much between the European feeling and the traditional paradigm of less important country in the EU or in the geopolitical context.

Female management – between motherhood and career

Abstract: The current data about the marital relations indicate with a substantial share in all the existing statistics that the partners are assessed with modern structures. They speak of equality, fairness as regarding the tasks, the gender attitudes and the functional system. However, the same social data reveals that between the declaration and the practical fact there are often obvious differences. The same relevance and has the historical data indicating that in 1866 Romania, the Constitution of the Kingdom attested the equal rights of all Romanians, though, from the legal authentication of this law until the assimilation of the social equity a lot of time has passed. However, the social inequities are still visible in each social structure and the idea of ​​gender equity melts into a set of roles that show, of course, in a diminished form, functional elements of a traditional marriage. Today, most times, the woman’s desire to assert socially and professionally has a cost – the role overcrowding. Women take care about their career but do not neglect the classic set of spousal role, which often places them in a position to choose between career and family. Moreover, the childbirth becomes an even greater challenge as the decision for the pregnancy must be accompanied by a decision for a career break. This is also becoming a challenge in itself given that the child dependency on their mother and the career break make the reintegration of women in the professional environment increasingly difficult. Based on a qualitative analysis, the study aims to analyze how women manage to build their own balance between career and family by organizing the functional way of restructuring family activities in relation to their career. Also, it aims to identify the impact that the women’s return to work after the maternity leave produces upon the family.

Identifying entrepreneurship readiness for the application of the Lean Startup practices in the service industry – Case study Romania

Abstract: The Lean Startup approach revealed around 2011 came as a novelty in the field of entrepreneurial management. The abbreviated version of the principles that mold the entire concept, states that instead of spending years developing a product towards perfection, a product that in the end might not even be desired by the market, the entrepreneurs should use their time more productively in understanding what clients really want. They should shape their product during the development cycle so that it would satisfy the final consumer. Based on the interviews taken for this research, the conclusion is that private company owners and managers face great challenges but also important opportunities to develop their business and change the economic life of a nation towards sustainable growth. Even though not entirely understood and still looked upon with distrust, Lean Startup is seen as an interesting methodology by Romanian entrepreneurs in the service sector who responded to this study. When promoted by keen adapters, it will go on as a valid business methodology that can lead to eliminating waste and lower the failure rate even though, now, the more trusted approach is the traditional one where the customers are met at the end of the process, after the products or services have been delivered.

The motivation for learning korean among the taiwanese

Abstract: The aim of the research is to identify what key factors could be in learning Korean in Taiwan. The findings present the developmental direction of Korean language education and by extension marketing strategy of relevant industry. First, the research chose ten motivational factors among many factors in learning a foreign language. The ten factors chosen are as follows: interest, desire, fellowship, communication, instrumental value, prospectiveness, the personality of teacher, class time, method of teaching, and curriculum. And Decision-making trial and evaluation laboratory method (DEMATEL) was conducted with data collected from fourteen respondents who have been studying Korean at private institute in Taipei, Taiwan. The findings show that interest, desire, communication, the personality of teacher, and curriculum are key motivational factors. Especially, as for importance itself, it shows that interest is most important motivational factor. But notable is the fact that five remaining factors have an effect on five key factors in its degree. Thus the result of research suggests that relevant institutes should prioritize five key motivational factors, but five remaining factors need to be taken into account.

Empirical research on the internal audit. perspective of the professionals within the romanian banking system

Abstract: This research takes into consideration the existence of the principal-agent type relationships withn the banking system, as well as the portfolio of risks related to it. Therefore, the internal audit intercedes between the stakeholders on the management of the credit entities becoming a component of the corporate governance mechanism. In this respect the internal audit must assure the stakeholders of the achievement of the credit instituion's objectives, the effectiveness of the internal control system, the risk and corporate governance management. Two directions are approached within this research. The first research direction considers the review of the professional literature at national and internationals levels. The second one has as research objectives the analysis of the opinion of the professionals working into a credit entity in Romania in terms on internal audit. By this endeavor, the curent research identifies the real aspect regarding the internal audit at banking system level. objectives

Development of scales to measure customers’ willingness to have control and the control offered by service businesses

Abstract: This study offers two new scales to be used by services marketing and management practitioners and academics. The scales measure how much control a service customer prefers to have and how much control a service business offers in order to reduce or eliminate various types of risks. Scales measure overall control required by a customer and the control offered by a service business based on the measurement of three types/dimensions of control (cognitive, behavioural and decisional). For the customer control scale data were collected from 384 service customers and for the service business control scale data were collected from 210 service customers. The internal consistency, discriminant validity, and convergent validity of each scale were assessed by means of item-total correlations, Cronbach's alpha, and comparison with other questionnaire items. Both of the control scales developed appear to have strong reliability and validity

Assessment of the effect of Value Added Tax on consumption behavior: The Case of Nekemte Town, Wollega

Abstract: This study has been conducted having the objective of assessing the effect of Value Added Tax on consumption behavior of Nekemte Town households. Descriptive research design has been implemented to undertake this study. The two most commonly used data collecting mechanisms (questionnaire and interview) have been used for this study by taking a sample size of 384, out of 20,870 households using stratified random sampling and three higher officials of Ethiopian Revenue and Custom Authority Nekemte branch from twelve total staff members using purposive sampling. To collect and measure the study, Liker Scale question were used and the collected data were edited for minor error. Relevant statistical methods of analysis like mean, standard deviation correlation and regression were use using the statistical package. The study revealed that the implementation of VAT to go down well with Consumers, the scheme has to come with some compensatory measures such as the reduction of income taxes to put more money in the pockets of households and to boost their purchasing power. And to ensure that the low-income and poor consumers – who may not enjoy the benefits of lower income taxes as most likely they are already exempted from such payment in the first place - are not worse off with VAT, zero-rating some basic essential products and providing other targeted assistance programmes are necessary measures to help them.

The validity of efficiency and compensation hypothesis for g7 countries

Abstract: National economies tend to protect individuals from external risks that depend mostly as a result of globalization of the trade. There is question that needs an answer at that point; the increase in the government expenditures is a result of the fact that increasing population or the compensation hypothesis? In order to answer that question, openness ration, government expenditures, gross domestic product per capita and population will be analyzed in order for G7 using panel data for the period 1980-2015. The empirical test will check the validity of the compensation and efficiency hypothesis. According to test results, only in Japan and Canada compensation hypothesis is valid for the selected period. On the other hand, the increase in the government expenses has no causality relation with the increase in the population.

The correlation of information and knowledge in regard to the acceptance level and their implication on self-driving cars in Germany

Abstract: Driver assistance systems are on the rise and shall prospectively develop to autonomous (also called: self-driving or driverless) cars. Their broad acceptance has not been thoroughly scientifically researched until now. In a previous paper, information and knowledge has been hypothetically identified as a key influencing factor in the acceptance forming process (Geldmacher et. al., 2017). For this purpose, information and knowledge is equalized by major events and news over the past five years in the field of self-driving vehicles in this paper. Acceptance is equalized by positive evaluation and effect and operationalized by a subjective evaluation of above described events and respective reactions on the stock market. Given the premises that no other unknown variable further influences the level of acceptance through information and knowledge, above deployed hypothesis is proven.

Managerial Communication Influence on the Organizations

Abstract: In an era of great informational speed, the demands towards the public institutions, increases proportionally. The quality of communication in the public institutions with the public can assure the good functioning of the organization and this has to be the main priority in management. The public organization, understanding its politics, the quality of the services offered to the public, its co participation in taking decisions requires communication, thing that allows both knowing social demands but also the diagnosis of the critical situations that brings the necessary transformation and leads to change. Managerial communication can motivate and inspire by creating a context and meaning, a positive vision on the organizational future and can underline the importance of the individual contribution to generate higher goals, improving not only the motivation but the team spirit of the group or the entire organization. The results of the empirical study on the managerial communication influence on the public and private institutional activities in the South Muntenia district presented in this article represents our attempt to find valid and valuable answers to the scientific problem we aimed to solve.

Post-communist transformations in central and eastern europe. “holistic versus extended order” model

Abstract: The transition of Central and Eastern European post-communist countries followed different sets of reforms with different degrees of success which generated a monolithic debate attitude for decades. From shock-therapy and intermediary to gradualist approaches, I stress the superiority of Bing-Bang reforms to market-based economies from economic, political and social perspectives. In this paper, after identifying the structural reforms started after 1989, I emphasize several variables that demonstrates the superiority of shock-therapy reforms for 22 countries grouped in four specific categories. After the examination that leads to the result that the radicalists won the battle with the gradualists, from epistemological to “numerical” point of views, we tried to propose an explanation for this historical fact and we consider this is due to the superiority of the extended order over the holistic one. Future work is needed to analyse the role of geographical proximity with the Western world and of historical legacies in the advancement of the debate.

Internet marketing theoretical aspects

Abstract: Internet marketing - a powerful goods and / or the delivery of products to target audiences. Internet - the place including a very cheap delivery of goods and services to a creative and specific target audience and receiving from clients fast feedback. The same as the real world, online marketing consists of many particles: the marketing plan, strategy, cost evaluation, choice of instruments, etc. Internet marketing and marketing - it's a never-ending process that requires constant work: to invest the time and money. Here, everything is used: website, social networks, online direct marketing, multi-media products, advertising campaigns, and so forth. Internet marketing and marketing is a very important part of the overall corporate marketing, as the Internet has become is not the main communication tool with customers.

Exploring the effects of customer portfolio management

Abstract: Nowadays turbulent business conditions provoke organizations to develop unique competitive advantages through efficient use of the available limited resources At the same time companies deal with increasingly informed customers, seeking high added value and better service at reasonable prices In this context, the need for rethinking traditional marketing activities determines the interest in searching and designing tools, which are able to analyze, evaluate, develop and manage the relationships with the customers Thus the customer portfolio management (CPM) concept gains popularity The paper offers a systematic view of the multifaceted nature of customer portfolio management and its effects on the economic performance of the company The effects are classified into four main areas: cost reduction; relationship improvement; risk optimization and revenue increase A conceptual model, which can be used as a base for the creation of methodological instruments for measurement and assessment of CPM effects, is proposed

The role of the decision in the proper functioning of the public administration system

Abstract: E ssential component in directing the activities of any organization, the decision is at the center of the concerns of many specialists, in an attempt to give it a comprehensive explanation. In such a way, the space of this article is dedicated to exposure to the various approaches that the administrative decision knows on the stage of the literature for explaining its significance and for emphasizing the role that it plays in the conducting the public administration activities. Beyond the variety of the approach perspectives analyzed, we have identified nuances that together allow the clarifying of the significance of the administrative decision, for which can be accepted the explanation of motor element, targeting instrument, of projection of what it needs to be done in the administrative activity. The research carried out shows that without consistent and effective decisions, the public administration is unable to satisfy the public needs as completely as possible. Only by adopting and implementing the most appropriate decision one will contribute to ensuring the effectiveness of the public administration activities with direct impact on the satisfaction of the public interest.

What is the furure of banking industry? different approach: islamic vs. conventional system

Abstract: This paper comes to present the distinguish approaches between Islamic banking system and Conventional banking system. The author aims to find out which system can sustain a healthy economy, resist to financial turbulences, and help individual and businesses to develop themselves and the entire society. And yes, through this paper, the study found out why Islamic banking system is more sustainable, secure and pass successful the financial crisis from 2008. Furth more, the research paper concludes that for an economic sustainable development these two-banking systems can come together, learn from each other. Conventional banks can offer Islamic banks products, even more can open Islamic bank breach. During the research paper, the finds are very interesting, and presented a different way of approaching trade, financial transactions, risk, profit and economic development. The Islamic banking system is much closer to citizens, based on profit-loss-and risk sharing, real assets backed, coming from the principles of life preached by Islamic religion. The Conventional banking system is based on financial and banking laws strictly on economic flows, based on debtor-creditor and profit principles, leaving the whole risk on the customer side and not all the time financial transactions are real assets backed. Research has discovered and comes to present and sustain that, in the last decade, Islamic banks' efficiency was better than Conventional banks, especially during a crisis period. This efficiency of Islamic banks comes from their unique and special principles of life, which is risk-averse and anti-speculation, compared to Conventional one, which are profit oriented. These Islamic principles of life drove and lead to the capacity of resisting to the financial turbulences. Islamic banking system has more helpful, and realistic approach. This paper comes to present the distinguish approaches between Islamic banking system and Conventional banking system. The author aims to find out which system can sustain a healthy economy, resist to financial turbulences, and help individual and businesses to develop themselves and the entire society. And yes, through this paper, the study found out why Islamic banking system is more sustainable, secure and pass successful the financial crisis from 2008. Furth more, the research paper concludes that for an economic sustainable development these two-banking systems can come together, learn from each other. Conventional banks can offer Islamic banks products, even more can open Islamic bank breach. During the research paper, the finds are very interesting, and presented a different way of approaching trade, financial transactions, risk, profit and economic development. The Islamic banking system is much closer to citizens, based on profit-loss-and risk sharing, real assets backed, coming from the principles of life preached by Islamic religion. The Conventional banking system is based on financial and banking laws strictly on economic flows, based on debtor-creditor and profit principles, leaving the whole risk on the customer side and not all the time financial transactions are real assets backed. Research has discovered and comes to present and sustain that, in the last decade, Islamic banks' efficiency was better than Conventional banks, especially during a crisis period. This efficiency of Islamic banks comes from their unique and special principles of life, which is risk-averse and anti-speculation, compared to Conventional one, which are profit oriented. These Islamic principles of life drove and lead to the capacity of resisting to the financial turbulences. Islamic banking system has more helpful, and realistic approach.

The quality and the price of the products as factors for а competitive advantage in the companies in the republic of macedonia

Abstract: The purpose of this study is to find out how much the price and the quality of products create a competitive advantage for a company. The results will enrich the approach of creating a price for a product by the companies, in addition to paying better attention throughout the manufacturing process of the products regarding their quality. The data for this research has been gathered through two structural questionnaires focused towards employees and managers, as well as consumers, and SPSS is used for data analysis. In this study, the importance of the quality of the product, the improvement of the quality of the products; as well as the quality as a factor that creates competitiveness is analyzed. From the price’s point of view, the importance of the price of the product is also analyzed in order to gain a competitive advantage through the price of the product. The purpose of this study is to find correlations between the importance of the price and the quality of the products. Whether the consumers care more about the price, less about the quality; and vice versa: they care more about quality than they care about the price. Key words: Price; Quality; Competitive advantage; Product JEL Classification: M1; M10