International Journal of Economics, Management and Tourism

THE USE OF QUALITY MANAGEMENT METHODS AND TECHNIQUES

Elizabeta Mitreva — Tue, 20 May 2025 20:41:31 +0000

This research aims to present various methods and techniques for improving business processes through proactive management. The contemporary approach to process management requires a rapid response to enhance or halt the production process, with quality control emerging as an operational activity primarily focused on process improvement, rather than merely an activity that monitors the current state. For manufacturers to meet consumer expectations, they must adjust the design of the production process, the performance of machines, acquire necessary equipment and technology, use appropriate materials, ensure skilled workers with continuous training and supervision, all while applying Total Quality Management (TQM). Process management, as a key factor in customer acquisition, involves a continuous search for the best technical, technological, marketing, and other improvements. To achieve this, all phases of the process—from the input elements of production and the production process to the creation of the new product—are controlled.

The central question addressed in this paper is: How can methods such as Failure Mode and Effect Analysis (FMEA) and other approaches be optimally applied to eliminate errors in industrial processes to improve quality and productivity?

The aim of this paper is not only to analyze the application of FMEA but also to identify the most effective strategies for implementation, best practices, and possible improvements in business processes.

TRAFFIC INFRASTRUCTURE OF THE MUNICIPALITY OF PRILEP

Cane Koteski, zlatko Jakovlev — Tue, 20 May 2025 20:43:31 +0000

With this scientific paper we want to show the key role, i.e. the importance of the traffic infrastructure for the transport of passengers and goods in the city to the villages and neighboring municipalities, in the function of developing tourism and the economy of the municipality of Prilep. The geographical position of the municipality of Prilep within North Macedonia is given. The municipality of Prilep is presented on a geographical map with the areas of all 58 rural settlements as well as the type of roads that pass through the municipality itself and the connection with neighboring municipalities. The scientific paper provides a traffic map for city bus transport in the city of Prilep. Furthermore, the scientific paper covers a growing number of objects and provides an overview of the entire road and rail traffic infrastructure that exists in the municipality of Prilep. The entire road infrastructure is presented both in the city and to 58 rural settlements and neighboring municipalities according to the category of the road, traffic transport companies, bus transport companies, bus stations, car services, auto electrical services, auto tire repairers, road towing services, gas stations, taxi companies and railway transport in the municipality of Prilep. Each transport company has a specific purpose for which it exists, and the management has the responsibility to use and combine organizational resources in the most optimal way, thus achieving the goal of the transport companies.

REGIONAL VALORIZATION OF TOURIST POTENTIAL IN THE R.N. MACEDONIA

Nikola Dimitrov — Tue, 20 May 2025 20:44:55 +0000

The main goal of the paper is to present the tourist valorization of natural and anthropogenic attractive motifs in the R.N. of Macedonia by planning regions. In the research, we evaluate 400 tourist attractions, of which 160 are natural and 240 are anthropogenic motifs. In the evaluation, all eight planning regions are represented by 50 tourist attractions, of which 20 are natural and 30 are anthropogenic. We carry out the valorization process through 10 parameters and evaluate each one with three numerical values. The conclusion presents the main specificities of the tourism potentials for each region separately and for the R.N. Macedonia as a whole.

NORMATIVE BELIEFS AS A FACTOR FOR DEVELOPMENT OF THE ENTREPRENEURIAL INITIATIVE AMONG YOUNG PEOPLE

Hristina Serafimovska, Marija Magdinceva Sopova — Wed, 21 May 2025 11:53:22 +0000

In order to find the real essence of youth entrepreneurial behaviour, the paper investigates those determinants that are part of social environment and have the greatest influence on the decision of young people to undertake an entrepreneurial venture. The paper is based on theoretical postulates of the Theory of Planned Behaviour. The conclusions are drawn from the primary data obtained from empirical research conducted in the Republic of North Macedonia among young students aged 18 to 29 years. The findings show that young people recognize the acceptance of the business community as the most important factor for an entrepreneurial decision.

OPTIMAL TAXATION IN BEN-PORATH MODEL

Dushko Josheski, Natasha Miteva, Tatjana Boshkov — Wed, 21 May 2025 11:54:02 +0000

This paper is about Ben-Porath model of human capital investments and non-trivial labor supply decisions throughout the lifetime of the individual. In Ben-Porath model without taxation: The time allocation condition ensures optimal trade-offs between leisure, work, and investment in human capital. Shadow price of human capital is increasing over time. In Ben-Porath-Huggett model Mirrlees taxation is the best option when skill is private knowledge, Ramsey taxation requires subsidies to prevent human capital stagnation. Pareto taxation is the second-best solution when redistribution is a goal. Ramsey taxation yields highest government revenues, Mirrlees and Pareto taxes yield highest utility.

REGULATION IN EMERGING INDUSTRIES

Paula Glouchkov — Tue, 20 May 2025 20:47:39 +0000

This paper analyses the development of regulatory frameworks in the context of growing technologies and new industry models. Research focuses on the need for regulators to adapt in a world of rapid technological change, balancing the need to foster innovation and protect public welfare. Through an analysis of successful and failed examples of regulatory approaches, the importance of flexibility, innovation, and collaboration between industry, government, and academia is highlighted. Properly implemented regulation in emerging industries is key to creating confidence, protecting consumers, and sustaining growth.

EUROPEAN BUSINESS, STRUCTURE AND PERFORMANCE

Paula Glouchkov — Wed, 21 May 2025 11:55:29 +0000

Small and medium-sized enterprises (SMEs) are key to the economy, creating more than 85% of new jobs in Europe. To ensure sustainable development, SMEs should be a priority in national and international strategy, supported through laws, by-laws and development mechanisms. According to the European Union, nine out of ten enterprises are SMEs, generating two out of every three jobs and contributing significantly to global market sustainability.

THE IMPLICATIONS OF ADVERTISING AND SOCIAL MEDIA ON CONSUMER AWARENESS AND BEHAVIOR

Dragica Chugunska Djaleva, Nikifor Djalev — Tue, 20 May 2025 00:00:00 +0000

With the expansion of digital technologies, advertising strategies are evolving significantly on a daily basis, influencing consumer awareness and behavior by personalizing and making consumption experiences more interactive. The aim of this paper is to analyze the implications that advertising and social media have on consumer awareness and behavior. A comparison is made between traditional and modern methods and approaches to advertising, with a focus on emotional, cognitive, and behavioral influence. Influencers (prominent figures on social media), individualized advertising algorithms, and user-generated content tailored to consumer needs are highlighted as contemporary advertising tools. This research indicates that consumers—especially from younger age groups—often make impulsive purchases due to the constant exposure to social media content from various brands and influencers who frequently advertise brands through tailored content (setting trends), which is often considered manipulative rather than authentic and based on personal views regarding product quality. Although consumers have access to information before making purchases, due to limited product research and the ease of succumbing to persuasive ads, such opportunities are rarely used. This paper will offer recommendations for ethical advertising and help consumers better understand the purpose of digital advertising.

THE IMPACT OF EFFECTIVE COMMUNICATION AND APPLICATION OF ARTIFICIAL INTELLIGENCE (AI) IN BUSINESS COMMUNICATION CHANNELS

Nikifor Djalev, Dragica Chugunska Djaleva — Wed, 21 May 2025 11:56:23 +0000

In the modern digital society, effective communication is one of the key factors for success in business. At the same time, artificial intelligence (AI) is becoming an important tool for improving communication processes, enabling automation, personalization and better availability of information. This paper aims to explore the impact of effective communication and the application of AI on business communication channels.

Through an analysis of relevant scientific literature and contemporary practices, the basic principles of effective communication, traditional and modern business communication channels, as well as the way in which AI transforms these channels are reviewed. Special emphasis is placed on the use of chatbots, email automation tools, sentiment analysis and translation services. This manuscript identifies key benefits from the application of AI, such as increased efficiency, improved user experience and resource optimization, but also potential risks such as lack of empathy, privacy threats and misinterpretation of messages. Also, it concludes with recommendations for a balanced and ethical integration of AI in business communication.

EXCHANGE RATE REGIMES AND INFLATIONARY INSTABILITY IN SMALL AND OPEN ECONOMIES: FROM CRISIS TO ECONOMIC RECOVERY

Stevce Jankuloski — Tue, 20 May 2025 20:51:50 +0000

This paper explores the relationship between exchange rate regimes and inflationary instability in small open economies, focusing on their role during periods of crisis and economic recovery. Small economies, due to their high degree of openness and limited monetary autonomy, are particularly vulnerable to external shocks and currency fluctuations. The choice of exchange rate regime—whether fixed, floating, or intermediate—plays a significant role in shaping inflationary trends and overall macroeconomic stability. Through an analysis of various regime types and their historical impact on developing countries, the paper highlights the importance of consistent and well-coordinated monetary and fiscal policies. Special attention is given to the challenges of maintaining price stability amid global uncertainty and the mechanisms through which exchange rate policy can either mitigate or amplify inflation. The findings emphasize that while no one-size-fits-all solution exists, flexible and credible exchange rate frameworks, combined with institutional resilience, are key to sustaining long-term economic recovery in small open economies.

THE CHALLENGES OF INTERNATIONAL RELATIONS IN THE POST-COVID ERA

Stevce Jankuloski — Wed, 21 May 2025 11:57:22 +0000

The Covid-19 pandemic has significantly transformed international relations, exposing critical vulnerabilities in global cooperation frameworks. This paper explores the multifaceted challenges that have emerged in the post-Covid era, focusing on political, economic, security, and socio-cultural dimensions. The initial global response was marked by a surge in nationalism and isolationism, disrupting established multilateral systems and exacerbating geopolitical tensions, particularly between major powers such as the United States and China. Trust in international institutions, including the WHO and the UN, has declined, highlighting the urgent need for reform and stronger global coordination mechanisms. Economically, the pandemic caused widespread supply chain disruptions, increased unemployment, and widened inequality, compelling nations to reconsider their dependency on global networks. In terms of security, the crisis emphasized the importance of cybersecurity and health systems as integral components of national and global stability. Moreover, the pandemic catalyzed social and cultural shifts, with digitalization redefining communication, work, and education, while mental health and local resilience emerged as key priorities. The research underscores the necessity of revitalizing multilateralism and developing adaptive strategies for future crises. By analyzing the pandemic’s long-term impact on international relations, this paper advocates for stronger international solidarity, inclusive governance, and sustainable global policies. The findings aim to contribute to a deeper understanding of the post-Covid international order and provide strategic insights for building a more resilient and cooperative global community.

IMPLEMENTATION OF TQM TOOLS FOR OPTIMAL RESULTS: TOOLS FOR BETTER PRODUCTS

Dushica Popova, Natasha Miteva — Wed, 21 May 2025 11:58:45 +0000

Total quality management (TQM) represents a strategic approach with a goal for better quality of the products through the integration of its techniques and tools for continuous improvement of the processes, increased satisfaction and fulfillment of the customers’ expectations. By introducing the TQM, better quality of procucts and services is obtained, costs are redusts, and greater market penetration is enabled. This research is aimed at the appreciation and understanding of the need for introducing TQM tools such as Pareto Chart, Control Charts, Flow Charts, Fishbone diagram, Checksheet, Histogram and Scatter diagram. Also, it evaluates their effectiveness in achieving optimal results in production processes. Additionally, the paper points out organizations which have successfully implemented TQM and its tools demonstrating their ability to deliver defect-free products thereby gaining the loyalty of their customers as well as acquiring new ones. This paper highlighted the importance of TQM implementation through the introduction of best practices and innovative techniques.

IMPORTANCE OF MEASURING SERVICE QUALITY IN THE SERVICE INDUSTRY

Dushica Popova, Natasha Miteva — Thu, 29 May 2025 00:00:00 +0000

Measuring service quality is essential for ensuring greater customer satisfaction as well as sustainable competitiveness in service industries. This research examines methodologies for assessing service quality and their essential role in driving customer satisfaction and loyalty, with a focus on their practical application in service industries. Also, the application of various methods and tools for assessing service quality has highlighted the importance of measuring service quality, due to customer retention, operational efficiency and overall profitability. The research highlighted the impact of measuring service quality by building customer loyalty, improving employee performance, and achieving long-term business success

ANALYTICAL APPROACH OF MANAGEMENT AND ITS APPLICATION IN THE PROCESS OF FINANCIAL DECISION-MAKING IN TOURISM ENTERPRISES

Zlatko Jakovlev, Vladimir Kitanov — Tue, 20 May 2025 00:00:00 +0000

With managerial activities, it is necessary to address the problems that arise during the operation of the tourism enterprise. In this way, the desired state is ensured, that is, the achievement of the enterprise's goals in the field of tourism. The essence of managerial activities is decision-making. Management decisions are made in situations characterized by the need for action and the existence of multiple lines of action. At the same time, linking these activities into the function of making the right decisions is a basic condition and task of the financial manager. Of course, all this in the directionof achieving the ultimate goal, increasing shareholder wealth. In this regard, financial management, and especially in tourism, should give an answer to the optimal use of funds, i.e. the use of funds, the provision of sources of financing, the provision of optimal cost of the capital employed, the decision on the distribution of profits, the dividend policy, in order to achieve the stated ultimate goal. The application of an analytical approach in financial decision-making in enterprises in the field of tourism in the Republic of Macedonia is very important for a more efficient and effective realization of the goals.