bluuebunny/crossref_metadata_2025 huggingface dataset:
ASPECTS OF THE ANALYSIS OF ENTERPRISE’S RATE OF RETURN
Authors: Ivanova Rositsa
Published: December 2021

The main objective of an enterprise is to achieve business efficiency and added value for the owners. The efficiency of enterprise’s business, considered as a separate object of the business analysis, may be expressed either as a ratio of achieved results to the resources used for their achievement, or as a ratio of input resources to the achieved results, due to the use of the same resources. As a resultative indicator, efficiency may be analysed and assessed in three aspects. The first of them refers to the efficiency of use of the enterprise’s production resources. We speak about the enterprise’s fixed tangible assets (production fixed capital), short-term assets (working capital) and workforce. The second aspect refers to the efficiency of income and expenses, and the third one – to the enterprise’s rate of return calculated on varied bases.Rate of return is a summary indicator that characterises the efficiency of the overall business of an enterprise. Enterprise’s rate of return may be analysed and assessed in two aspects. On one hand, rate of return is studied as a resultative indicator by identifying and evaluating the impact of direct factors on its dynamics. On the other hand, rate of return is analysed and assessed as a factor indicator that has impact on the dynamics of other key business indicators that characterise the enterprise’s business.Two approaches for studying and evaluating of enterprise’s rate of return as a resultative indicator exist in the theory and practice of business analysis. These are the accounting and the financial approach.The accounting approach is based on the use of profit to calculate enterprise’s rate of return. By means of this approach, the profit is compared to different bases that may be as follows, depending on the determined objectives and tasks and on the needs of information of the enterprise’s management: assets, capital, equity, expenses, revenue, etc. Furthermore, different values of profit may be also used – accounting profit, book profit, profit from principal activity, profit from sales, etc.The financial approach for analysis of business efficiency is based on the added value for capital owners.The object studied in this publication is the rate of return calculated as a percentage ratio of the book value to the average amount of enterprise’s assets (accounting approach).The studied subject is the model of the economic added value, which is a kind of connection between the accounting and the financial approach for analysis and evaluation of business efficiency.This publication is aimed at presenting a model that binds the economic added value and the enterprise’s asset-based rate of return.
THE KNOWING-DOING GAP OF INTELLECTUAL CAPITAL IN MULTINATIONAL COMPANIES - CASE STUDY: SKANDIA GROUP
Authors: Sylqa Driton , Zaharieva Galina
Published: December 2021

This paper aims to research the possibilities of the gap between knowing-doing in companies that implement the concept of Intellectual Capital (IC). Skandia is the best sample of IC concept and will provide a lot of useful information to conduct the respective project. As a multinational company, Skandia group, develops activities around the globe, and is the pioneer in implementing the concept of IC. Hence, it was chosen to be the subject of this case study research. The research includes interviews, with several people in different positions, in each management level into which every interview is interpreted through hermeneutic approach in order to achieve a better understanding of the phenomenon of the study. The research were made within different offices of company in various cities in Sweden. The study applies the descriptive case study approach, whilst investigated the possibility of gaps of IC between Knowing-Doing. The research shows that the concepts of IC and knowing-doing gap, could be found in headquarters of Skandia to a large extent, and this way basic assumption about a possible gap was verified. The implementation of IC within Skandia and its employees is for sure not completed yet. Also the shareholders are not convinced by the concept if one looks at Skandia´s performance on the stock markets. Nevertheless it offers a rhetorically positive way to tackle future challenges. In that respect this study got a deeper understanding concerning Skandia and IC. The research made many things visible that were not seen in the literature so far.
THE PROBLEM OF EMPLOYEES THROUGH THE PRISM OF MOBBING
Authors: Azemović Nedžad , Azemović Rešad
Published: December 2021

Mobbing is Theoretical and practically emotional terror group above the core. This tipe of violence most often encountered in a professional environment and in every other situation where is a feeling belonging to the group. In the situation where the person is a victim of Mobbing she is losing every public integrity and personal stability and she is becoming the object of persecution of the crowd. There must be groups and a sense of belonging to the group in order to have mobbing. Mobbing rarely occurs in a number of small social groups, made up of members of all major groups, regardless of educational, professional, or professional profiles. The reasons for the phenomenon of mobbing vary from the nature of the work, through organizational causes, to the nature of the relationship between employees. The term mobbing includes all kinds of harassment at the workplace. Mobbing is not a new phenomenon and exists since there is human race and the desire of the individual for the owner. Persistent and prolonged exposure to mobbing significantly compromises the health status of the victim. Health disorders and symptoms that can arise in mobbing are divided into three groups: Changes on a psychic base and emotional sphere, changes on a psychical health plan and changes in a behavior. The victim of mobbing can become every employed person, regardless of gender, year of life, the social status, race, the external appearance, degree of education, and the professional position. The abused person in mobbing is useless, usually in impossibility to defend herself. In our country mobbing is regulated with the law about stopping the abuse on the work 2010. year. Employers are forced to analyze every problem, which has some negative consequences on the productivity and production costs. Research showed that one of the main conditions in the rising costs is mobbing. Conceived as a process of economic restructuring, changes in ownership and increase business efficiency, the transition in all the former socialist countries in the Balkans has produced a number of negative effects. Of these two are drastic: huge number of unemployed and disastrous situation of employees. Almost unique perspective of economic analysts is that mobbing is a fundamental problem employees. Whether it is horizontal or vertical, the victim is forced to perform tasks that impair their health, work and life rights. In a word, it creates an atmosphere that is often employed envy the unemployed, as there are about 45 forms of expression mobbing. About this, evidenced by the authors’ research in the Novi Pazar district.
COACHING TECHNIQUES IN MARKETING TRAINING
Authors: Aleksandrova Desislava , Iskrev Dimitar
Published: December 2021

The need for new approaches to learning is determined by the requirements for competitiveness in the European Education Area. The need of the modern man for permanent self-development and self-improvement are basic prerequisites for using up-to-date and effective learning approaches. One of the most important criteria for the modernization of vocational education is the modernization of the education process through the introduction of innovative forms of training aimed at increasing student activity and motivation. The use of active training methods and the formation of key competences and attitudes towards lifelong learning are a top priority of the modern school. The role of the teacher is also changing from a communicator of ready-to-assimilate information to a partner in the learning process. The student is becoming an active participant, a partner, a generator of knowledge and ideas. The International Coach Federation (ICF) defines coaching as a partnership between a coach and a client (individual or team) in a process that provokes reflection and creativity and inspires the client to increase their personal and professional potential, which is of particular importance in today's complex and uncertain environment. Coaching enables one to unleash their full potential so that they can succeed, achieve their goals and at the same time feel happy. The atmosphere of partnership that is being created in this process has a strong motivating effect when deciding on an action and choosing means to tackle a challenge. The coaching approach allows for a quick identification of the problems and student's resources - their strengths and weaknesses. The focus is on developing the strengths, which motivates the student and generates a desire for learning and maintaining communication. The innovative thing in coaching is that the teacher stops asking "Why is there a problem?" but rather asks: "How do we achieve what you want?". Thanks to this model of communication and behavior, teachers form in students the same attitude that enables them to define and achieve their goals while accompany them in this process in the most accessible and appropriate manner. The teacher listens actively, asks questions and does not provide ready answers, with such questions evoking thinking and decisions, gives sincere praises and encouragements, follows his/her own "emotional compass" and listens to his/her intuition. The use of coaching techniques in marketing training aims at students acquiring such professional competences in the chosen profession/program of study that will guarantee them finding successful jobs.
PROMOTIONAL ACTIVITIES AS A MARKETING TOOL FOR TOURISM DEVELOPMENT
Authors: Risteska Jasmina
Published: December 2021

Tourism as the main driver and pillar of the socio-economic development of the developed and the underdeveloped countries is a powerful economic segment for economic development. The rapid pace of tourism development has contributed to a number of countries to take strong steps towards development and more serious treatment. The effects of tourism are mainly perceived through the increase in the foreign exchange inflow, improvement in the balance of payments, creation of new jobs and growth of investments. The dynamic growth and development as well as the significance of the tourism industry have contributed to raising marketing to a higher level where through promotional activities tourism will strengthen the role of the tourism market. The promotion in tourism refers to communication between the producer and the consumer, where through communication, information is exchanged that will contribute to increasing the sales of tourism products and services, and significantly influences the choice of the particular tourist product, while providing relevant information about the characteristics of the tourist destination. Through the promotion, consumers receive information about products, services and ideas in order to encourage the interest in using them. The promotion takes an important place in positioning the product on the market and achieving a competitive advantage. It is accomplished through economic propaganda, promotion of sales, public relations, publicity and personal consumption, which are basic forms of promotion. It is particularly important that these activities are coordinated, which will contribute to the formation of awareness among potential probes for the existence of the product / service and create their preferences. This role of promotional activities is conditioned by their mutual relationship with other marketing instruments. If both the product, the price, and the distribution channels successfully perform their role, then the promotional activities will be successful. They can not complement the weaknesses of other elements of the marketing mix. In order for the promotion to be effective, an efficient product / service policy, price, distribution channels, as well as a high level of integration of the overall marketing activities in the marketing plan, as well as the coordination of the company's plans as a whole, is required. In promoting products, services and ideas, a number of methods, tools and activities are used that are aimed at achieving the goals of promotion, and thus the marketing goals. When we talk about promotional activities in tourism, that is, when tourists are offered a certain tourist product, it is necessary to intensify and coordinate cooperation between all participants in the preparation of this product. In the offer of the tourist product, tourists are informed in advance about the trip itself to decide on destinations that would satisfy their tourist needs. Promoting a particular tourist destination encourages people to visit, or to engage in a tripartite journey.
PERSONAL SKILLS AND COMPETENCES IN THE LEARNING PROCESS
Authors: G. Borisova Lalka
Published: December 2021

The myth of highly motivated young man who started as a mail carrier and through hard work and consistency rises to highest level in his career, is no longer current. Before today's professionals stand requirements which include, a university level education, competence, and skills that involve teamwork and leadership. Learning is a lengthy process that leads to the accumulation of knowledge and skills - competencies. Serious successes do not happen quickly and they require diligence and responsibility - to ourselves, to personal development, to work. The pursuit of higher order will allow them to reach new levels of personal growth and efficiency. This process should be subject of desire the gained knowledge and skills to be used after graduation at work and for communicating.
DISTANCE TRAINING AS INNOVATION AND OBJECTIVE NEED FOR MODERN HIGHER EDUCATION
Authors: Ivanova Grudeva Marinella , Yurievna Kostyunina Nadezhda
Published: December 2021

In the search for opportunities to solve the variety of global problems faced by humanity, the discovery of education as the main possible key to their solution was attained at the beginning of the new century. But, not just education as an opportunity for attaining a high intellectual level, for a certain period of time, by every person, but an education of a continuous (lifelong) nature. This has led to a clear shift in the "learn to live" paradigm to "lifelong learning", which has created a premise for rapid and serious reforms, especially in the higher education system. A wide range of innovative ideas have been launched. New educational technologies have been developed. A new review and reading of traditional training methods and approaches has been challenged in order to achieve greater efficiency in their implementation. One of these ideas was related to the introduction of distance learning in response to a clearly identified need to meet the ever-increasing need to obtain education from different groups of people who, for one reason or another, are unable to get involved in the forms of traditional education. All this drew attention to a deeper study and clarification of the essence and specifics of distance learning as an innovation in meeting the objective needs of modern higher education. The emphasis on innovation in the education process is based on its ability to bring about qualitative changes to systems and ways to increase their effectiveness. It is also considered as a necessary basis for the transition from an old to a qualitatively new state of education based on a revision of the existing normative positions. It is also defined as a phenomenon that does not arise on its own, but is the result of long-standing scientific searches.
ASPECTS OF ASSESSING THE KNOWLEDGE, SKILLS AND COMPETENCE OF STUDENTS - FUTURE TECHNOLOGY AND ENTREPRENEURSHIP TEACHERS
Authors: Garnevska Silvia
Published: December 2021

Controlling and evaluating the quality of training of the learner is a mandatory component of the education system. The problem of the means of testing and evaluating learning outcomes in the various professional fields is important and therefore the article is devoted to various aspects of the assessment of the training in the Pedagogy of Technology and Entrepreneurship Education. Testing has been considered as a complex process involving multiple stages: preparation; carrying out the examinations; analysis of the result. The passages are shown schematically. Preparation includes: goal setting; the content of the content for verification; fixing methods and forms for verification; setting criteria and indicators for evaluation; technical provision. The conduct of examination procedures requires: instruction; independent work of students; verification and evaluation. When the result is analyzed, the actual state is established, the actual and set values are compared, the deviations are analyzed, and corrective measures are taken.Since the traditional system for verifying the knowledge and skills of students has a number of disadvantages and is less effective, more rational testing and evaluation methods are sought in the study. They respond to the specifics of the subject area of Technology and Entrepreneurship and enable to examine both the volume and quality of the knowledge, skills and competences of students in the field of technology and economics and their ability to draw conclusions, to take a critical approach to the obtained information to properly assess non-standard situations. An analysis of some specific techniques for verifying and assessing students' knowledge is presented. Specific methods and tools for evaluation are described. The choice and construction of a complex method for verifying the knowledge and skills of the students in the subject disciplines is explained. Portfolio is mentioned as an alternative means of presentation and evaluation. There is a need for a generalized assessment of the quality of professional training. Based on Peicheva, Volkin and Naidenova’s research, we offer a model for a generalized assessment of students - future teachers of Technology and entrepreneurship. The views of the directors of educational institutions - employers of Technology and entrepreneurship teachers have also been studied. When selecting criteria for teacher recruitment, most of them rank first and second in the acquired specialty and the completed degree. Attitude towards work is also important.It is concluded that under the current conditions the examination and assessment of the acquired knowledge, skills and competences are becoming more and more important due to the need for objective selection and adequate realization of the personality. Therefore, professors responsible for the professional training of students should look for adequate methods and tools for effective testing and assessment.
A COMMON METHODOLOGY FOR ANALYSIS OF PROFIT FROM SALE OF PRODUCTS
Authors: Chukov Krastyo
Published: December 2021

This publication studies the profit from sale of products. It is aimed at developing and suggesting a methodology for analysis and assessment of the impact of individual direct factors on the dynamics of this indicator.Profit from sale of products is formed under the impact of direct and indirect factors. Direct factors have immediate effect on the formation of profit dynamics as a resultative indicator and such effect may be quantified. This is due to the fact that there is precisely determined mathematical dependence between the direct factors and the profit as an object of the analysis. Direct factors comprise the amount, the range structure, the cost and the prices of products. By increasing the amount of products (at specific rate of return) and the prices, the profit increases, and upon their decrease, it also decreases. Any cost increase results in the respective profit decrease, and vice versa. With regard to the product range structure, profit increases upon increase of the relative share of more profitable items, and decreases upon increase of the less profitable items.Indirect factors refer to introduction of new technologies and items, increase of production capacities of fixed tangible assets and improvement of the level of their extensive and intensive use, increase of efficiency of labor, etc. The impact of indirect factors is expressed through the direct factors.We suggest an approach for differentiation of changes in the amount and range structure of products.The determination of the three factors – elements of the cost of sold products – expenses for principal activity, expenses for sale of products, and administrative expenses, is in accordance with the modern organization for creation of information by accounting means.The updated methodology developed and suggested in this publication enables the identification and assessment of the impact of direct factors on the deviation between the actual and benchmark value of profit from sale of products. These factors are:1) changes in the amount of production;2) changes in the expenses for principal activity;3) changes in the expenses for sale of products;4) changes in the administrative expenses;5) changes in the sales prices;6) changes in the product range structure.The feasibility of this methodology is illustrated by using specific numerical information.
THE IMPACT OF THE GLOBALIZATION PROCESS ON THE DEVELOPMENT OF CORPORATE GOVERNANCE
Authors: Siljanovska Zorica , Miladinovski Sreten , Shalevska Elena
Published: December 2021

The corporate governance is concerned with both the rules and regulations and institutions that influence the management mode within corporations as well as the manner in which they allocate their resources and returns. The globalization process, especially, the global integration of financial markets, puts pressures on national systems and models of corporate governance to converge i.e. comply with the global trends and developments in the area of corporate governance by opening their economies towards the global markets. This paper analyzes this very issue, or, in other words, the impact of the globalization on corporate governance, with special focus on the Republic of Macedonia. Consequently, it is demonstrated that the Republic of Macedonia is included in the process of globalization, companies are interested in presence and competition on the global market, and therefore building a good corporate governance system is a need, not a choice. Moreover, the Republic of Macedonia has substantially harmonized its regulations pertaining to the corporate governance on the basis of the principles commonly accepted at an international level.
GLOBALIZATION AS A NEW ACCULTURATION
Authors: Kela Edi , Memeti Burim
Published: December 2021

Throughout history, communication has taken place through various communication channels and processes, such as trade, traffic, people’s migration, folklore, and often through military conflicts. They led to numerous fundamental acculturation changes. Every kind of communication and exchange involved the transmission of information and the diffusion of cultural elements, such as ideas and ideology, inventions and innovations. Primary, and at the same time, the best mediator for communication is the language. The language, with all the found ways of fixing in tangible symbols, falls into the prehistory of what is now called the communication system. By creating an alphabet, and thus the possibility of written communication, conditions have been created for connecting and socializing people on a civilized scale. Starting with Johan Gutenberg, the inventor of the printing technique, that is, the civilization of the letter, the application of the printing machine, begins with a new culture that was developed by finding new communication channels (telegraph, telephone, radio, gramophone records, film, television, satellites, computers, the Internet). So that new inventions, especially in the field of digital electronics, are not waiting for centuries but are available in a very short time. It all enables transcontinental transmission, making the world truly become a "global village" (McLuhan), while culture receives a planetary character.
AN EMPIRICAL ANALYSIS OF DETERMINANTS OF ECONOMIC GROWTH OF REPUBLIC OF NORTH MACEDONIA
Authors: Sadiku Luljeta , Sadiku Murat , Madzova Violeta
Published: December 2021

Every country’s aim is to reach prosperous, innovative, competitive and dynamic knowledge- based economy with sustainable economic growth capable for providing higher standards of living to its population. The rise of GDP in real terms entails enlargement of economic resources that not only meets the current economic needs but also affords a better future for next generations. In fact, a key determinant of economic growth is investment, both in physical and human capital, having influence on the improvement of competitiveness, employment and productivity, which in turn contribute to GDP growth. However, during the last decade North Macedonia features with a remarkable upsurge of concern about sustainability of economic growth. Thus, the main goal of this paper is to empirically analyze the main determinants that promote the economic growth of the country. For that purpose quarterly data are utilized for the time period 1999Q1-2017Q4. The research method consists to the time series econometric techniques, using Vector Error Correction Method (VECM) and Johansen co-integration test for investigating both short term and long term determinants.
IMPACT OF THE POLITICAL INSTABILITY ON THE LIBYAN ECONOMY
Authors: Kreiw Rwida
Published: December 2021

Regarding the Libyan macroeconomic framework, the petroleum sector returns caused to the government and the need to support civil service job opportunity and preserve the widespread funding system. In 2006, the increasing of the price of the Libyan price oil, around US $63.05, had a significant and positive influence on the Libyan economic situation. The price increased around 65 % compared to the corresponding value in 2004 which was in averaged around US $38.In the same context, the favorable enhancement in the oil sector donated to an observable development in balance of payment surplus, which achieved around 15.4 % of gross domestic product. Also, international reserves improved to be around 19 billion US dollars. Moreover, the Libyan authorities have decreased the bank the percentage of interest rates across the board to enhance the demand in the private sector for credit and established a strategy to update the payment system. All these monetary policies and strategies affect positively on the Libyan macroeconomic and financial situations to be satisfactory in 2004.In 2005, the performance of the macroeconomic stayed comparatively strong. The gross domestic product achieved approximately about 3.5 %. Moreover, the inflation stayed 2.5 %. On the other hand, the economic development is assessed to have been created mainly 4.5 % in the non-oil sectors. In details, the non-oil sectors such as hotels and transportation, construction and services, agriculture and manufacturing sector with respectively values 7%, 5%, 2.5 % and 1.8%. unfortunately, all these sectors showed weak performance recently because of the unstable political situation in the country.Regarding to the banking sectors, according to (Murugiah and Akgam, 2015), Libyan banking sector has realized especially after the issuance of laws. In 2005, this Central Bank of Libya has significant impact on establishing banks and reorganization assets inducing them to look for new investment chances. In our model, the variables Stock Capital, Libyan Oil PriceNumber of population in Libya and dummy variable for the political instability have significant impact on the Libyan gross domestic products at 5% significance level. The heteroscedasticity and autocorrelation tests are checked in the model.Finally, we conclude that increasing (decreasing) the oil and gas prices has a significant influence on the economic development generally in Libya and on the macroeconomic indicators, such as gross domestic product, monetary policy, the unemployment rate, and the inflation rate in the country.
PRICE-GENERATING CHARACTER OF INFORMATIONS ABOUT NET FINANCIAL RESULT IN THE CASE OF WARSAW STOCK EXCHANGE
Authors: Lisicki Bartlomiej
Published: December 2021

For most governments in the world, a fundamentally strong economy is the goal of their politics. One of the determiners of such economy is operating and developed capital market. This process, however, entails the necessity of its effectiveness. In relation to the capital market, the effectiveness may be defined in three dimensions [Sharpe, 1992]. One of them is the so-called information efficiency. The first man who drew attention on the possibility of occurrence informatively effective capital market was L. Bachelier [1900]. In his study he included a theory of price formation on the French stock exchange. However, its first actual definition has been put forward much later by E. Fama [1965]. According to it, on efficient capital market “prices always fully reflect all available information”.There is a number of information that may impact on the prices of financial instruments. These include: news of profit sharing (dividend payments), stock exchange analysts' recommendations, transactions made by insiders, split or resplit shares and information not necessarily related to particular company or an economic sector. Moreover, this information may be evidences derived from accounting. Data from the accounting system has a very significant impact related to the prices of companies listed on global stock exchanges. They enable the investors’ risk on the capital market. Concerning to that, they can improve the selection of entities characterized by a good economic and financial situation. Placing funds in these can mean that investors will achieve above-average profits in the future.One of the most important data coming from the accounting system is the information about companies net financial result (net profit or loss). Informing market participants about the net financial result may affect the price volatility of the issuer's financial instruments. It was already written about in current of the capital market research in accounting in the 1960s [Ball, Brown, 1968].Main aim of this paper was examination the impact of announcement information about net financial result on the market value the biggest companies listed on the Warsaw Stock Exchange grouped in the WIG20 index. To achieve this aim have used the event study methodology-one of the methods of measuring information efficiency of the capital market [Fama, 1969]. It is a research instrument used to assess investors’ reactions, while on the other hand it can be used as an element of financial market efficiency evaluation. For this purpose constructed 5-day long event window (where t0 was a day of announcement the financial report). Using the event study methodology, were calculated the abnormal returns for each quarterly report publications between 2016 and mid-2018 for each company in WIG20 index. Results of this paper are given below.
EFFECT OF THE REGULATORY FRAMEWORK BASEL III ON BENEFITS OF THE BANKING SECTOR IN THE REPUBLIC OF NORTH MACEDONIA
Authors: Vytev Zhelao , Gashi Hazir
Published: December 2021

Object of attention in the present work is the profitability and efficiency of banks in the Republic of Northern Macedonia. The subject of the study is focused on the strength and direction of influence of the new Basel III regulatory framework on their final financial results. The purpose of the paper is to reveal the effect of using modern regulatory requirements on the profitability of the country's banking system. The study includes observations on developments in the banking sector for the period 2007-2018. A coefficient of analysis is applied using a system of appropriately selected indicators: cost / income ratio, ROA, asset yield, earnings margin, unit costs, net earnings per share unit cost of staff efficiency factor. An analysis of real empirical data reveals that the implementation of the new regulatory measures does not have a negative effect on the final financial results of the banks, but rather a trend towards improvement of a number of their key financial indicators.
FINANCING LOCAL ECONOMIC DEVELOPMENT THROUGH THE FINANCIAL MARKET - SITUATION AND PERSPECTIVES IN REPUBLIC OF NORTH MACEDONIA
Authors: Miftari Florije
Published: December 2021

The process of reform and fiscal decentralization in the Republic of North Macedonia is already in the second decade of implementation, the legal deadline of which was 2007. However, local government units are still lagging behind in the realization of many of their functions and legal competencies, mainly as a result of lack of financial means, lack of knowledge or lack of capacities to access on alternative sources of funding. An important instrument of financing, especially for financing local and regional economic development are municipal bonds, which are considered the most used financial instruments for financing local and regional capital projects in almost all developed countries of the World, but still in Republic of North Macedonia, no municipality has used this funding source. It is reasonable and necessary that this practice to be developed also in North Macedonia that would result in the realization of strategic municipal projects and at the same time will have an impact on the development of the capital market.Therefore, the purpose of this paper is to analyze the factors, causes and barriers of non-application of municipal bonds in North Macedonia as a financing instrument by the municipalities. Also in this paper are analyzed and evaluated the opportunities and constraints, benefits and risks, criteria and budget constraints of municipal bonds as an additional or alternative source of financial resources for financing local and regional economic development.
ACTION RESEARCH: ANSWERING THE NEVER-ENDING QUESTION OF EFFECTIVENESS IN TEACHING
Authors: Miftari Igballe
Published: December 2021

This paper aims to identify different issues and factors which might establish higher efficiency in the teaching process. It relates to the aspect of self-criticism and student-involvement in the learning process and emphasizes student-centered teaching and self-reflection. The term action research itself refers to various techniques and procedures that teachers might use or implement in order to improve their methods of teaching, their theories and/or approaches.According to Richards and Farrell (2005),action research refers to teacher-conducted classroom research that seeks to clarify and resolve practical teaching issues and problems. The terms refer to two dimensions of this kind of activity: the word research in “action research” refers to a systematic approach to carrying out investigations and collecting information that is designed to illuminate an issue or a problem and to improve classroom practice. The word action refers to taking practical action to resolve classroom problems.” (2005, pg. 171)Accordingly, the key questions of the case study are: 1. How am I teaching and am I effective? 2. How can I receive input regarding my teaching methodology? 3. Can I actually change my personal theory and how can my students help me change?Participants in the case study are 50 third year students of IBU, of three different fields of study: English language teaching, Psychology and Psychological counseling and guidance. All three departments attend the common course entitled Educational methodology, which I teach. Participants were asked to provide personal assumptions regarding: the course (the content), the methodology of teaching (techniques, approaches etc.), the materials (coursebook and additional resources) and the teacher (attitude, proficiency, knowledge etc.) by filling in a questionnaire of 20 statements (5 per each area, which will be added in the Appendix). On a scale of strongly agree-neutral-strongly disagree, students were asked to rank each specific statement according to their overall impressions. They were also advised to add additional remarks and suggestions as well. The main aim of gathering such data and information is receiving input on issues which teachers encounter on a daily basis. Furthermore, student-involvement in decision-making and providing suggestions are crucial in teaching nowadays. The results, together with additional theory and practice will be further elaborated in the paper. Future recommendations and implications will also be provided as well.
EDUCATION SYSTEM IN XXI CENTURY – CHALLENGES AND PERSPECTIVES
Authors: Iliev Tsvetan
Published: December 2021

The purpose of this study is to outline and analyze the main trends in the education system of Bulgaria in the context of contemporary social and economic development. Its subject-matter is the education system as a production process of key importance for the future economic development. The subject of study covers the challenges to the educational system of Bulgaria posed by the contemporary economic conditions.Social and economic reality in the beginning of 21st century can be treated as unique. This attitude is due to all phenomena and processes accompanying human civilization development nowadays. Fundamental factors predetermining relationships between economic entities in processes of production, barter and income distribution are liable to changes. New conditions show that land and assets equipment of production are not enough to guarantee growth of social wealth. Assets transformation from “property” into “function” presupposes knowledge and skills presence. That is why knowledge is considered in the paper as current production foundation. The orientation of economic development to the all-round penetration of knowledge in business processes can be defined as a challenge to the industrial society and its production principles. We think that the signs of change could be outlined in the following directions: annexation to the traditional industrial factors of production - land, labor and capital of knowledge; transition from mass industrial production to demascision of production, markets and society; transition from vertically positioned public and economic structures to horizontal networks; transformation of the production of products with a physical medium into products that can easily be digitized and multiplied technologically, causing structural changes in both the national and global economy. These changes do not exhaust the extensive series of transformations, but only identify the directions in which they could be reasonably devised. The family, political structures and the social culture are changing. Every new socio-economic system needs the appropriate cultural prerequisites to make its development possible.
ETHICS IN TEACHING
Authors: Martinovska Violeta , Josheva Natalija
Published: December 2021

A teacher, an educator, a professor, an instructor is a noble profession. The twenty-first century has its own challenges, demands and needs to be tackled. Medieval literature and the beginnings of Slavic literacy in Macedonia are the aspects we are addressing. How to adjust the distant ninth century to today's modern times in a versatile way, interesting to students? How to conduct an exegesis of St. Clement's teachings, the hymnographical verses of St. Naum of Ohrid, the lives of a great many Saints? These are the challenges of the medievalists in the course of studies related to such programme contents. Medieval literature is for the most part theological, excepting the apocryphal literature which is non-canonical. Can the biblical phrase "Be perfect" be perceived in the modern living, and what aspects of interpretation can there be? Does perfection exist, or is there only the feat, the struggle for one's constant self-improvement and advancement towards ontological values? Sophists asked questions such as: Who am I?; Why am I?; What is the meaning of my existence? Existentialists further deepened these questions. We, once again, in the modern age, ask these eternal questions. How to convey the moral aspects of St. Clement of Ohrid in contemporary teaching? How to explain the eternally current issues related to ethics and the code of living in times of "lack" of ethics or its reduction? In St. Clement's didactic teachings, the ethical aspect is not only theological, but universal. In fact, St. Clement of Ohrid, as well as the most prominent educators and their teachers St. Cyril and St. Methodius of Thessaloniki, are cosmopolitan figures. Their aspects are universal codes of life directed towards continuous learning, progress and the light of human existence. Permanent personal growth is a lifelong process in which ethics is at the forefront, along with the remaining contemporary ethical norms of living. Learning ennobles the human personality. Enlightenment in Slavic literature proved that knowledge is the most powerful weapon of mankind.
THE TEACHER OF THE FUTURE AND HIS / HER MORAL CHARACTER
Authors: Joveva Danka
Published: December 2021

This paper will deal with the role of the moral character of the teacher in the training educational process. The process of formation of the individual as a moral person is of a great importance for the society and every member of the community as well. It is one of the primary and basic social tasks. The values of the moral character of each individual is extremely important in today’s global society. Their importance is of the building of the human consciousness and ability of evaluation of the sense and the value of life. Furthermore, the teacher should serve the society and the individual as well, for to provide and make the development of the individual happen in accordance with his / her interests, abilities, possibilities and value orientations. The training depends on the professional and moral qualities of the teacher and it is largely based on the personal example of the one who directs and leads the young people, that is why the teacher is one of the important assumptions for successfully and valuable moral education. In this research the following methods were used: method of theoretical analysis and synthesis, descriptive method, inductive and deductive method.
INFORMATIONAL CAPABILITY OF TEACHER SFOR NEW GENERATION OF STUDENTS EDUCATION
Authors: Macanovic Nebojsa
Published: December 2021

Today's generations of students are growing up in the digital technology world by communicating and adopting knowledge on a daily basis in a completely different way from older generations that did not grow up with new technologies. Technology has drastically changed the way that today's generation of students lives, works, learns and thinks. Such generations also require teachers who can follow their interests and needs. However, often due to insufficient IT skills or lack of information and communication means, teachers can not introduce new, more modern forms of knowledge acquisition into the teaching process that would be in line with today's new generation needs of students. It is why the aim of this paper to point out how many teachers, who are employed in elementary schools of the Unsko-sanski Canton in Bosnia and Herzegovina, are informatically trained and how prepared they are for advancing their digital knowledge and applying it in the teaching process. Also, in this paper we will show how much the length of the teacher 's workload affects their views on the need to introduce information - communication technology into the teaching process. The research conducted in March 2019 on a sample of 90 teachers will point to some of the school's teachers' deficiencies and needs to devote much more attention to IT skills and to the advancement of digital knowledge in the coming period.
INNOVATIVE METHODS FOR EVALUATING QUALITY CRITERIA FOR QUALIFICATION PROCESS WITH TEACHERS
Authors: Tsoneva Magdalena , Georgieva Kristina
Published: December 2021

In the fast-changing realities of the modern world arises a new concept of education that defines new educational goals and policies. Conceptually new is the understanding of education as a factor of social and cultural cohesion and as an economic potential.The quality of education is measurable in every aspect and at each of the levels at which it can be operationalized. It is a measurable figure at school, regional, national and international level; there is a social, pedagogical and economic aspect; attribute is to each of the key features of the educational system - resources, functioning, results.The new concept of education requires positive changes in the following areas:- education management - decentralization and guaranteed participation of civil society in the development, implementation and monitoring of education development strategies; planning of enough resources for education;- educational environment - building a tolerant, healthy and secure educational environment that promotes individual development; clearly defined mandatory knowledge and skills; practical direction of educational content; attractive forms of education representing understandable educational content; measurable educational outcomes; widespread penetration of new information and communication technologies;- teaching profession - targeted policies on teacher qualifications and distribution of effective pedagogical practices;- monitoring - creating systems for effective measurement of educational achievements and systems for monitoring the activity of the teacher and the school.The European Quality Report on School Education identifies 16 indicators, divided into four areas, as follows:- achievements - mathematics, reading, science, information and communication technologies, foreign languages, learning skills, civic education;- student progress - dropping out, completing secondary education, entering higher education institutions;- monitoring of school education - evaluation and management of school education;- resources and structures - education and training of teachers covered in pre-school education, number of students per computer, educational costs per student.
THE PORTOFOLIO AS AN IMPORTANT TOOL FOR THE TEACHER’S FORMATIVE ASSESSMENT IN THE STUDENT’S ACHIEVEMENTS
Authors: Zenuni-Idrizi Valdeta
Published: December 2021

Supervision and evaluation are complex processes without which there is no effective work. Through supervision and evaluation we guarantee high efficiency and quality in the teaching. Because of that the teacher should always work on student’s self confidence, to help and motivate them to achieve the success. It is in this context that we plead for the development of monitoring systems that enable teachers to determine the abilities of individual students and follow their progress in a number of subjects. Such systems may provide teachers with detailed information on individual students. One of the most productive ways of supporting the development and the achievements of the student is the developing, keeping and assessing the portfolio. The greatest value of the portfolio is that through it, the students become active in the process of learning and assessing. The aim of the research was to see whether the teachers give priority to portfolio as an important tool for the teacher’s formative assessment and the teachers’ opinions for its usage. Based on this purpose, and on the complexity of the problem posed above, we defined to apply: inductive, deductive, comparative and statistical method. During the realization of this research the instruments that were used is the questionnaire for teachers. There were posed to 210 teachers from elementary schools. The gained results are generally in favor of the conclusion that this process makes students more independent in the way they learn and take responsibility. This information gives us an overview about the teaching quality in the elementary school. This paper recomends that student keeping and assessing the portfolio should no longer be treated as an assessment, but instead as an essential competence for self-regulation.