Armand Faganel | University of Primorska, Faculty of Management (original) (raw)

Papers by Armand Faganel

Wine Economics and Policy, 2024

With the projected growth in the global wine market, the ongoing impact of the COVID-19 pandemic,... more With the projected growth in the global wine market, the ongoing impact of the COVID-19 pandemic, and the increasing prevalence of e-commerce, a pressing need arises to devise unique and engaging ways to present product offerings. While prior research has shed light on the potential of online sales platforms for wineries and the role of wine bottle labels in influencing consumer purchasing behavior, scant attention has been given to the presentation of wine products in the realm of e-commerce. Therefore, the primary objective of this study is to examine the impact of including visual cues (symbols) in online product displays on individuals' perceptions of the product and their likelihood to make a purchase. Specifically, we aim to investigate how the placement of elements related to wine consumption, such as a 'Glass' , and the representation of the product's raw materials, such as a bunch of 'Grapes' , affect consumer purchasing choices. The results from a simulated online wine store demonstrate the substantial influence of including a 'Glass' symbol on consumers' selections. Furthermore, a series of eye-tracking laboratory experiments conducted in Poland, involving a total of 140 participants, provides deeper insight into underlying mechanisms. These findings reveal that augmenting a wine product with a hedonic symbol, such as a 'Glass' , significantly enhances consumer perception of the product. Additionally, it exerts influence on their 'Product Attitude' and 'Product Taste' assessment, both of which are integral components of product perception. This study has the potential to offer valuable insights for wine marketers, e-commerce retailers and researchers specializing in the field of consumer behavior and marketing. Beyond the wine industry, the implications of this research extend to other sectors that rely on e-commerce platforms for sales.

Heritage, 2023

The focus of this paper is the revitalization of a heritage city center and the significance of r... more The focus of this paper is the revitalization of a heritage city center and the significance of retail trade and cruise ship tourism within this context. Fundamental concepts are presented in the literature review and the factors contributing to the decline of old city centers explored. The
empirical section of the paper comprises a case study that highlights a specific municipality’s efforts to revive its heritage city center. The main attraction in Koper is its well-preserved medieval city center with five-centuries-old Venetian architecture. An analysis of the municipality’s initiatives is performed and a qualitative study that investigates the perceptions and experiences of stakeholders regarding the situation and the municipality’s actions to preserve commercial activity in the city center. The results of the semi-structured interviews conducted with three distinct stakeholder groups are analyzed using the qualitative content analysis method. The findings reveal that the chosen municipality has achieved relative success in revitalizing its heritage city center. Concurrently, stakeholders’ perspectives are utilized to identify potential drawbacks and explore opportunities for mitigating them. This paper concludes by presenting its theoretical and methodological contributions to the field of heritage city center revitalization, not only in the selected municipality but also beyond. These insights can inform the appropriate sustainable policy development and marketing strategy.

Beverages, 2023

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

International journal of risk assessment and management, 2023

The present paper inquires the realisation of activities within the occurrence of an event with a... more The present paper inquires the realisation of activities within the occurrence of an event with an active shooter. The purpose of the paper is to explore the range to which Slovenian members of the Emergency medical treatment (EMT) prehospital teams were familiar to the action recommendations of EMT teams in the occurrence of an AMOK situation. Further purpose was to inquire whether EMT teams are ready to confirm the link between awareness and their perceived competences. An online survey among 252 members of the EMT prehospital teams was employed, using a convenience sampling. The analysis shows that EMT team members agree that the regularity of joint drill with armed forces importantly affects their qualification for a correct action. But nevertheless, EMT members seem to be well-informed about the recommendations from a theoretical point of view. This study makes several contributions to the EMT teams’ assessment of their readiness to respond in the case of an AMOK attack in a relatively safe European country.

Palimpsest : international journal for linguistic, literary and cultural research, 2023

This article is about the language of mission statements of a sample of Slovenian and Austrian hi... more This article is about the language of mission statements of a sample
of Slovenian and Austrian higher education institutions in the field of business and economics. We analysed the content of these statements by using WordSmith tools, a suite of programmes for identifying key words in each text, generating word lists in frequency order, and/or studying certain words in context.
First, we searched the Internet and saved mission statements of all Slovenian and Austrian business and economics higher education institutions (HEIs) that had such a document in English. For our research, we first created two corpuses (one for the Austrian HEIs and one for the Slovenian HEIs) in plain text format. After that we used WordList to create two-word lists and used Concord to see how the most frequently used words in those two lists are used in the context.
We analysed and interpreted the results by highlighting the main characteristics of the discourse used in the sample texts, as well as pinpointing the main differences and similarities.

Market, 2023

Purpose – This paper explores various supervised machine learning algorithms as an additional cla... more Purpose – This paper explores various supervised machine learning algorithms as an additional classification method to RFM (recency, frequency, and monetary) models with the aim of improving the accuracy in predicting target groups of customers for direct marketing response campaigns conducted by a casino. The purpose of this paper is twofold – first, to test how the addition of demographic variables increases the accuracy of the basic RFM model and second, to assess if and how machine learning algorithms improve the initial model. Ultimately, we propose a model for direct marketing response at individual level using RFM scores and customer demographic and behavioral data as endogenous variables to be used by the company. The findings can be used as an alternative to the simpler RFM model when approaching customer response modeling for large datasets and can be generalized to other industries.
Design/Methodology/Approach – Our research employed supervised machine learning methods tuned on historical responses to a casino’s direct marketing activities to improve the company’s RFM segmentation model. Demographic variables were also included with the aim of improving the power of the models employed. Finally, we attempted to improve the best-performing model by hypertuning its algorithm parameters.
Findings and Implications – The best and most intuitive model was found to be that using decision trees with Recency (from RFM) together with age and the awarded amount (from the demographic element) as independent variables. Surprisingly, the company’s own RFM segmentation was also found to perform well.
Limitations – Not all machine learning methods used for classification were included in our research nor did we use ensemble methods to improve the models’ power. While all models developed are applicable to similar data, they could lose their accuracy when applied to data from a different industry. The company’s own RFM model was not analyzed but was included in the model as is. Further insight could be gained by determining its optimal parameters.
Originality – This study contributes to the existing literature by showing how direct marketing efficiency modeling using standard RFM could be improved with the addition of a company’s customer property. It also provides insight into how classification algorithms perform on a casino database of direct marketing activities.

New Perspectives on Using Accreditation to Improve Higher Education, 2022

Quality assurance in higher education has already a long tradition. Internal and external quality... more Quality assurance in higher education has already a long tradition. Internal and external quality assurance procedures guarantee the quality of education and research nowadays. It doesn't matter if the higher education institutions are private or public, they have to demonstrate the diligent handling of the financial resources they have acquired. Slovenian quality assurance agency (SQAA) is an autonomous and independent body that operates according to the standards and guidelines for quality assurance in the European higher education area. The Slovenian Court of Audit audited the quality assurance procedures SQAA in order to determine whether higher education study programs are of high quality and diverse. The audit discovered some inefficiencies of the evaluation and accreditation procedures and in this paper the response and correction activities of the SQAA are being studied. Based on findings some recommendations for transparent work of quality assurance agencies are presented.

Strategic Management, 2022

Digital transformation causes a comprehensive change in the company through the use or renewal o... more Digital transformation causes a comprehensive change in the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth, and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating, and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of the basic infrastructure of telecommunications services is saturated and that there is a potential for operators to offer additional services. Customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and create growth for all stakeholders in the process. The main guidelines of growth present an excellent opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationships, and developing a partner ecosystem.

ECONOMICS AND CULTURE, 2022

Research purpose. The purpose is to study the household attitudes toward waste separation and pre... more Research purpose. The purpose is to study the household attitudes toward waste separation and prevention and present an innovative model of efficient and sustainable waste management. Design / Methodology / Approach. In the empirical part, an online survey was implemented to research residents' attitudes and intentions regarding handling household waste. It resulted in 228 valid responses, used for a quantitative analysis to answer the set hypotheses. Findings. Regardless of the good results of waste separation in the municipality, the research showed that households do not know how to classify certain waste according to the type properly. It was confirmed that the use of penalty programs does not contribute to a higher level of waste separation. The already high awareness of the importance of separating waste could further be strengthened through the tools of social marketing as a factor for social change. Originality / Value / Practical implications. It has been proven that residents' motivation is an important factor that indirectly influences households to separate, prevent and reduce the generation of new amounts of waste. Changing people's attitudes, mindsets, and behavior to be environmentally friendly is the best way to prevent further encroachment on the natural environment.

Strategic Management, 2022

Digital transformation causes a comprehensive change of the company through the use or renewal of... more Digital transformation causes a comprehensive change of the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of basic infrastructure of telecommunications services is saturated, that there is a potential for operators to offer additional services, and that customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and creating growth for all stakeholders in the process. The main guidelines of growth present a great opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationship and developing a partner ecosystem.

Quality Assurance Review for Higher Education, 2021

Modern universities are expected to act socially responsible, in the public interest, and for the... more Modern universities are expected to act socially responsible, in the
public interest, and for the benefit of all interested stakeholders, internal and external. Although understanding and definitions of social responsibility vary, a short literature overview has been offered. Through the content analysis of Slovenian universities’ texts in their missions, strategies, last published self-evaluation reports, and quality manuals, the appearance of the term social responsibility has been verified. However, as there are many different definitions of social responsibility, study results do not show a homogeneous assertion of this term in documents. Consequently, it is impossible to find a unified philosophical view of a university's role in society. Nevertheless, findings show some differences in how public and private universities deal with these questions.

Impacts and implications for the sports industry in the POST-COVID-19 era, 2021

Slovenian sport is financed from three main sources: public expenditure provided by the state thr... more Slovenian sport is financed from three main sources: public expenditure provided by the state through the annual sports program and the Sports Foundation at the national level and local communities, population expenditure on sports products and services and economic expenditure, which is mostly sponsorship in sports. Each company follows its own sponsorship strategy, with many areas and projects always competing with each other, deciding which areas to invest in, e.g. sports, culture, etc. and assess their priorities and relationships with other investments. 2020 has been heavily marked by the Covid-19 epidemic, which had a profound impact on the world and the economy, as well as on sports and sponsorships. Namely, sport is one of the forms of social activity in which the participants are physically close or even in contact at all times. These are athletes, coaches, masseurs, physiotherapists and others as well as spectators. Most Slovenian companies have decided to insist on sponsoring selected sports activities, but they also expect state assistance.

Independent Journal of Management & Production 12(7):1948-1961, 2021

Function and sustainability of family, while taking into account external influences such as econ... more Function and sustainability of family, while taking into account external influences such as economic status, political situation, as well as societal norms and values. The identification of these challenges helps us determine the extent to which family structure and function is able to adapt to the rapid globalization that is taking place.

INDEPENDENT JOURNAL OF MANAGEMENT & PRODUCTION, 2021

As globalization is increasingly affecting both Low Income Countries (LICs) and high income count... more As globalization is increasingly affecting both Low Income Countries (LICs) and high income countries (HICs), the formation of mixed markets emphasizes the importance of private education. Functionalists, for example, highlight privately owned institutions as higher quality ones, as the competitive market forces them to innovate and follow the rapid technological improvements, to respond to customers' demand. Higher education is becoming a necessity in LICs, as well. This is because it is much easier nowadays to "import" the workforce from another country. On the other hand, factories of transnational corporations are getting established in LICs. In this case, higher knowledge is not required, as the emphasis is placed on repetitive tasks and division of labor. The aim of this work is to provide a relevant analysis of scientific approach of various stand points in regards to different functions and applicability of knowledge, while considering the external factors, such as economic status of the country, to define the key challenges. Still, as the country progresses economically, the sector of production is likely to shift from primary (fishing, farming, agriculture) to the third one (services). As a result, LICs who aim to progress in an economical sense, must place greater emphasis on higher education, and align the educational process with the economic demand.

Management, 2020

Communication in global project teams is emerging research topic as more and more work is done in... more Communication in global project teams is emerging research topic as more and more work is done in form of global project, with geographically dispersed teams communicating using different communication channels. There are several unique dimensions to consider in comparison to communication in traditional project teams, including some unique risks and success factors. This article provides a systematic literature review on internal communication in global project teams. Cultural aspects of global project team collaboration were also investigated. A bibliometric analysis was performed through methodological approach applied in previous studies. Traditional project management and communication methods are not the best option for global projects as they can't answer the additional challenges that global projects provide in comparison to traditional projects. Key risks and success factors on global projects were identified and proposals extracted on how to run the internal communication on global projects. Requirements for successful global project manager were described. Our research revealed a gap in available literature, encouraging further exploration and serving as a basis for further research.

The aim of this paper is to evaluate critical success factors and investigate the benefits that m... more The aim of this paper is to evaluate critical success factors and investigate the benefits that might be gained by adopting Customer Relationship Management (CRM) in the gaming industry from the perspective of individuals involved in the process of adopting the CRM. A total number of 109 casinos' managers from all over the world have been surveyed about the factors' importance for the CRM adoption. Based on the multiple regression and ANOVA analysis, an estimated function of the influence of the most important umbrella factors -human, project and technological, for the success of CRM project in a company has been formulated. The highest rated elements in successful cases of CRM adoption are almost entirely bound to human factor. CRM systems are estimated to evolve further into a direction of individual customer experience management and become more and more intelligent, integrated and data-driven.

The aquaculture sector stands at a crossroad because of the important changes in the business env... more The aquaculture sector stands at a crossroad because of the important changes in the business environment.
The demand and competition for farmed fi sh is increasing worldwide, and so is the awareness of the importance for further development of sustainable small business. In this view innovation is crucial to promote sustainable business models that can achieve a solid economic performance and at the same time take care of the natural environment. The purpose of this paper is to contribute to the literature about sustainable business models by an in-depth case
study of a small fi sh farming company. The exemplary case study of a sustainable business model in aquaculture has been analysed by use of an enhanced business model canvas that links various market oriented elements of a business model with the needs of society.

Kybernetes , 2013

Purpose – The purpose of this paper is to explore and clarify the cause and effect relations betw... more Purpose – The purpose of this paper is to explore and clarify the cause and effect relations between key performance indicators (KPIs) which significantly contribute to the benefits of the business processes exploitation in the Luka Koper, d.d. Company.

Design/methodology/approach – The paper developed a single equation microeconomic error correction model (ECM) with the Engle and Granger two-step method. With the ECM approach, the paper performed application on the KPIs and estimated short- and long-term effects between them.

Findings – From the final ECM model, it can be recognized that the total turnover has been increased, by increased maritime throughput. Increasing the maritime throughput means a reduction in electricity consumption per tonne reloaded and increasing consumption of fossil fuels and water. Revenue per unit of maritime throughput has a negative regression coefficient, which may lead to an increase in income or increased amount of maritime throughput and simultaneously reducing the cost per tonne reloaded. Results are reflecting the impact of sharp declining in maritime throughput with the greatest added value in the years 2007 and 2008. All these results and observations suggest that an error correction mechanism exists and that the paper set up a stable model, which describes the dynamics of short-term determinants of the long-term service performance.

Research limitations/implications – The following limitations exist to this study: sample size and quality of the data that were available and the quantitative analysis in the four perspectives of the Kaplan and Norton's balanced scorecard (BSC). Since this is the case study that investigates the impact of the KPIs' on the results and causalities between them, the paper also encountered the data, which are treated as a business secret. Further research into the impact of introducing the four perspectives of the BSC to monitor the implementation of strategies and strategic projects is recommended.

Practical implications – The presented quantitative approach is useful in combination with a qualitative approach, which is a common practice in determining the causal relations resulting in the strategic map of BSC. Simulations of the developed model are possible on all levels of management, by combining the KPIs, and consecutively acquire new knowledge about their relations. Developed quantitative approach supports improving the monitoring of operational efficiency of an organization, improving business processes, project efficiency and achievement of the strategic goals.

Originality/value – Developed approach supports identification and classification of strategic goals and their KPIs that are best suited for inclusion in the BSC strategic map, improvements to the monitoring of implemented strategic initiatives and achievement of strategic goals.

Published in M. Bray, A.E. Mazawi & R.G. Sultana (eds.), Private Tutoring across the Mediterranean: Power Dynamics and Implications for Learning and Equity (pp. 167-176)., 2012

This chapter presents an exploratory study of discourses about private tutoring. Slovenia, as a y... more This chapter presents an exploratory study of discourses about private tutoring. Slovenia, as a young democracy just entering its third decade, is still struggling to embrace the free market economy. It has many grey areas with no or little tax regulation. Private tutoring has been widely recognised as one of the strongest components of the shadow economy, but no previous research has been undertaken on its scale and implications. For the present study, a qualitative analysis was chosen to explore the content and nature of discourses on different forums and websites reflecting both demand and supply of tutoring. The findings are discussed and compared with international knowledge about the phenomenon.

Annales, Series Historia et Sociologia 01/2012; 22(2):19-29. pp.19-29

From once common delta marshes, which were shaped into the saltpans, found near all the coastal t... more From once common delta marshes, which were shaped into the saltpans, found near all the coastal towns of Slovenian Coast, there are only few coastal wetlands left. The concessionaire of Sečovlje Salina Nature Park is entitled to use the natural pans for traditional salt-making; in addition, under the laws and regulations the concessionaire is allowed to perform certain activities in the Park: management of the Park, development of sustainable tourism and the farming of aquatic organisms. This paper provides an overview of trends that affect the planning of tourism in protected areas, the growth and diversification of this niche market, and the potential benefits and risks of merging tourism with natural and cultural heritage. Through the analysis of the content documents, the case study of planning for sustainable development in the protected area is examined: the sensitivity of development of infrastructure and services, tourism marketing and management challenges in a secure area, and tools for tourism management.

Wine Economics and Policy, 2024

With the projected growth in the global wine market, the ongoing impact of the COVID-19 pandemic,... more With the projected growth in the global wine market, the ongoing impact of the COVID-19 pandemic, and the increasing prevalence of e-commerce, a pressing need arises to devise unique and engaging ways to present product offerings. While prior research has shed light on the potential of online sales platforms for wineries and the role of wine bottle labels in influencing consumer purchasing behavior, scant attention has been given to the presentation of wine products in the realm of e-commerce. Therefore, the primary objective of this study is to examine the impact of including visual cues (symbols) in online product displays on individuals' perceptions of the product and their likelihood to make a purchase. Specifically, we aim to investigate how the placement of elements related to wine consumption, such as a 'Glass' , and the representation of the product's raw materials, such as a bunch of 'Grapes' , affect consumer purchasing choices. The results from a simulated online wine store demonstrate the substantial influence of including a 'Glass' symbol on consumers' selections. Furthermore, a series of eye-tracking laboratory experiments conducted in Poland, involving a total of 140 participants, provides deeper insight into underlying mechanisms. These findings reveal that augmenting a wine product with a hedonic symbol, such as a 'Glass' , significantly enhances consumer perception of the product. Additionally, it exerts influence on their 'Product Attitude' and 'Product Taste' assessment, both of which are integral components of product perception. This study has the potential to offer valuable insights for wine marketers, e-commerce retailers and researchers specializing in the field of consumer behavior and marketing. Beyond the wine industry, the implications of this research extend to other sectors that rely on e-commerce platforms for sales.

Heritage, 2023

The focus of this paper is the revitalization of a heritage city center and the significance of r... more The focus of this paper is the revitalization of a heritage city center and the significance of retail trade and cruise ship tourism within this context. Fundamental concepts are presented in the literature review and the factors contributing to the decline of old city centers explored. The
empirical section of the paper comprises a case study that highlights a specific municipality’s efforts to revive its heritage city center. The main attraction in Koper is its well-preserved medieval city center with five-centuries-old Venetian architecture. An analysis of the municipality’s initiatives is performed and a qualitative study that investigates the perceptions and experiences of stakeholders regarding the situation and the municipality’s actions to preserve commercial activity in the city center. The results of the semi-structured interviews conducted with three distinct stakeholder groups are analyzed using the qualitative content analysis method. The findings reveal that the chosen municipality has achieved relative success in revitalizing its heritage city center. Concurrently, stakeholders’ perspectives are utilized to identify potential drawbacks and explore opportunities for mitigating them. This paper concludes by presenting its theoretical and methodological contributions to the field of heritage city center revitalization, not only in the selected municipality but also beyond. These insights can inform the appropriate sustainable policy development and marketing strategy.

Beverages, 2023

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

International journal of risk assessment and management, 2023

The present paper inquires the realisation of activities within the occurrence of an event with a... more The present paper inquires the realisation of activities within the occurrence of an event with an active shooter. The purpose of the paper is to explore the range to which Slovenian members of the Emergency medical treatment (EMT) prehospital teams were familiar to the action recommendations of EMT teams in the occurrence of an AMOK situation. Further purpose was to inquire whether EMT teams are ready to confirm the link between awareness and their perceived competences. An online survey among 252 members of the EMT prehospital teams was employed, using a convenience sampling. The analysis shows that EMT team members agree that the regularity of joint drill with armed forces importantly affects their qualification for a correct action. But nevertheless, EMT members seem to be well-informed about the recommendations from a theoretical point of view. This study makes several contributions to the EMT teams’ assessment of their readiness to respond in the case of an AMOK attack in a relatively safe European country.

Palimpsest : international journal for linguistic, literary and cultural research, 2023

This article is about the language of mission statements of a sample of Slovenian and Austrian hi... more This article is about the language of mission statements of a sample
of Slovenian and Austrian higher education institutions in the field of business and economics. We analysed the content of these statements by using WordSmith tools, a suite of programmes for identifying key words in each text, generating word lists in frequency order, and/or studying certain words in context.
First, we searched the Internet and saved mission statements of all Slovenian and Austrian business and economics higher education institutions (HEIs) that had such a document in English. For our research, we first created two corpuses (one for the Austrian HEIs and one for the Slovenian HEIs) in plain text format. After that we used WordList to create two-word lists and used Concord to see how the most frequently used words in those two lists are used in the context.
We analysed and interpreted the results by highlighting the main characteristics of the discourse used in the sample texts, as well as pinpointing the main differences and similarities.

Market, 2023

Purpose – This paper explores various supervised machine learning algorithms as an additional cla... more Purpose – This paper explores various supervised machine learning algorithms as an additional classification method to RFM (recency, frequency, and monetary) models with the aim of improving the accuracy in predicting target groups of customers for direct marketing response campaigns conducted by a casino. The purpose of this paper is twofold – first, to test how the addition of demographic variables increases the accuracy of the basic RFM model and second, to assess if and how machine learning algorithms improve the initial model. Ultimately, we propose a model for direct marketing response at individual level using RFM scores and customer demographic and behavioral data as endogenous variables to be used by the company. The findings can be used as an alternative to the simpler RFM model when approaching customer response modeling for large datasets and can be generalized to other industries.
Design/Methodology/Approach – Our research employed supervised machine learning methods tuned on historical responses to a casino’s direct marketing activities to improve the company’s RFM segmentation model. Demographic variables were also included with the aim of improving the power of the models employed. Finally, we attempted to improve the best-performing model by hypertuning its algorithm parameters.
Findings and Implications – The best and most intuitive model was found to be that using decision trees with Recency (from RFM) together with age and the awarded amount (from the demographic element) as independent variables. Surprisingly, the company’s own RFM segmentation was also found to perform well.
Limitations – Not all machine learning methods used for classification were included in our research nor did we use ensemble methods to improve the models’ power. While all models developed are applicable to similar data, they could lose their accuracy when applied to data from a different industry. The company’s own RFM model was not analyzed but was included in the model as is. Further insight could be gained by determining its optimal parameters.
Originality – This study contributes to the existing literature by showing how direct marketing efficiency modeling using standard RFM could be improved with the addition of a company’s customer property. It also provides insight into how classification algorithms perform on a casino database of direct marketing activities.

New Perspectives on Using Accreditation to Improve Higher Education, 2022

Quality assurance in higher education has already a long tradition. Internal and external quality... more Quality assurance in higher education has already a long tradition. Internal and external quality assurance procedures guarantee the quality of education and research nowadays. It doesn't matter if the higher education institutions are private or public, they have to demonstrate the diligent handling of the financial resources they have acquired. Slovenian quality assurance agency (SQAA) is an autonomous and independent body that operates according to the standards and guidelines for quality assurance in the European higher education area. The Slovenian Court of Audit audited the quality assurance procedures SQAA in order to determine whether higher education study programs are of high quality and diverse. The audit discovered some inefficiencies of the evaluation and accreditation procedures and in this paper the response and correction activities of the SQAA are being studied. Based on findings some recommendations for transparent work of quality assurance agencies are presented.

Strategic Management, 2022

Digital transformation causes a comprehensive change in the company through the use or renewal o... more Digital transformation causes a comprehensive change in the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth, and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating, and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of the basic infrastructure of telecommunications services is saturated and that there is a potential for operators to offer additional services. Customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and create growth for all stakeholders in the process. The main guidelines of growth present an excellent opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationships, and developing a partner ecosystem.

ECONOMICS AND CULTURE, 2022

Research purpose. The purpose is to study the household attitudes toward waste separation and pre... more Research purpose. The purpose is to study the household attitudes toward waste separation and prevention and present an innovative model of efficient and sustainable waste management. Design / Methodology / Approach. In the empirical part, an online survey was implemented to research residents' attitudes and intentions regarding handling household waste. It resulted in 228 valid responses, used for a quantitative analysis to answer the set hypotheses. Findings. Regardless of the good results of waste separation in the municipality, the research showed that households do not know how to classify certain waste according to the type properly. It was confirmed that the use of penalty programs does not contribute to a higher level of waste separation. The already high awareness of the importance of separating waste could further be strengthened through the tools of social marketing as a factor for social change. Originality / Value / Practical implications. It has been proven that residents' motivation is an important factor that indirectly influences households to separate, prevent and reduce the generation of new amounts of waste. Changing people's attitudes, mindsets, and behavior to be environmentally friendly is the best way to prevent further encroachment on the natural environment.

Strategic Management, 2022

Digital transformation causes a comprehensive change of the company through the use or renewal of... more Digital transformation causes a comprehensive change of the company through the use or renewal of information and communication technologies with the aim of greater productivity, growth and competitiveness of the company. Digitization offers new business opportunities to companies, optimization of work processes and operations, more efficient operations, higher productivity, new ways of designing and operating business models, encouraging innovation and development, and new ways of promoting, communicating and connecting companies. Telecom operators are confronted with a choice between remaining a traditional telecommunications operator providing SOHO (small office/home office) businesses basic infrastructure services or switching to digital transformation. This study confirms that the SOHO market segment in the field of basic infrastructure of telecommunications services is saturated, that there is a potential for operators to offer additional services, and that customer loyalty is not related to the amount of implemented business solutions. Operators can thus build a business partnership in terms of mutual development and creating growth for all stakeholders in the process. The main guidelines of growth present a great opportunity for operators, arising from the challenges of SOHO businesses to switch to the process of digital transformation. Therefore, operators have to be prepared; the main guidelines of growth are conditioned by adjusting their strategic goals, redefining business processes, upgrading technology, raising the level of business relationship and developing a partner ecosystem.

Quality Assurance Review for Higher Education, 2021

Modern universities are expected to act socially responsible, in the public interest, and for the... more Modern universities are expected to act socially responsible, in the
public interest, and for the benefit of all interested stakeholders, internal and external. Although understanding and definitions of social responsibility vary, a short literature overview has been offered. Through the content analysis of Slovenian universities’ texts in their missions, strategies, last published self-evaluation reports, and quality manuals, the appearance of the term social responsibility has been verified. However, as there are many different definitions of social responsibility, study results do not show a homogeneous assertion of this term in documents. Consequently, it is impossible to find a unified philosophical view of a university's role in society. Nevertheless, findings show some differences in how public and private universities deal with these questions.

Impacts and implications for the sports industry in the POST-COVID-19 era, 2021

Slovenian sport is financed from three main sources: public expenditure provided by the state thr... more Slovenian sport is financed from three main sources: public expenditure provided by the state through the annual sports program and the Sports Foundation at the national level and local communities, population expenditure on sports products and services and economic expenditure, which is mostly sponsorship in sports. Each company follows its own sponsorship strategy, with many areas and projects always competing with each other, deciding which areas to invest in, e.g. sports, culture, etc. and assess their priorities and relationships with other investments. 2020 has been heavily marked by the Covid-19 epidemic, which had a profound impact on the world and the economy, as well as on sports and sponsorships. Namely, sport is one of the forms of social activity in which the participants are physically close or even in contact at all times. These are athletes, coaches, masseurs, physiotherapists and others as well as spectators. Most Slovenian companies have decided to insist on sponsoring selected sports activities, but they also expect state assistance.

Independent Journal of Management & Production 12(7):1948-1961, 2021

Function and sustainability of family, while taking into account external influences such as econ... more Function and sustainability of family, while taking into account external influences such as economic status, political situation, as well as societal norms and values. The identification of these challenges helps us determine the extent to which family structure and function is able to adapt to the rapid globalization that is taking place.

INDEPENDENT JOURNAL OF MANAGEMENT & PRODUCTION, 2021

As globalization is increasingly affecting both Low Income Countries (LICs) and high income count... more As globalization is increasingly affecting both Low Income Countries (LICs) and high income countries (HICs), the formation of mixed markets emphasizes the importance of private education. Functionalists, for example, highlight privately owned institutions as higher quality ones, as the competitive market forces them to innovate and follow the rapid technological improvements, to respond to customers' demand. Higher education is becoming a necessity in LICs, as well. This is because it is much easier nowadays to "import" the workforce from another country. On the other hand, factories of transnational corporations are getting established in LICs. In this case, higher knowledge is not required, as the emphasis is placed on repetitive tasks and division of labor. The aim of this work is to provide a relevant analysis of scientific approach of various stand points in regards to different functions and applicability of knowledge, while considering the external factors, such as economic status of the country, to define the key challenges. Still, as the country progresses economically, the sector of production is likely to shift from primary (fishing, farming, agriculture) to the third one (services). As a result, LICs who aim to progress in an economical sense, must place greater emphasis on higher education, and align the educational process with the economic demand.

Management, 2020

Communication in global project teams is emerging research topic as more and more work is done in... more Communication in global project teams is emerging research topic as more and more work is done in form of global project, with geographically dispersed teams communicating using different communication channels. There are several unique dimensions to consider in comparison to communication in traditional project teams, including some unique risks and success factors. This article provides a systematic literature review on internal communication in global project teams. Cultural aspects of global project team collaboration were also investigated. A bibliometric analysis was performed through methodological approach applied in previous studies. Traditional project management and communication methods are not the best option for global projects as they can't answer the additional challenges that global projects provide in comparison to traditional projects. Key risks and success factors on global projects were identified and proposals extracted on how to run the internal communication on global projects. Requirements for successful global project manager were described. Our research revealed a gap in available literature, encouraging further exploration and serving as a basis for further research.

The aim of this paper is to evaluate critical success factors and investigate the benefits that m... more The aim of this paper is to evaluate critical success factors and investigate the benefits that might be gained by adopting Customer Relationship Management (CRM) in the gaming industry from the perspective of individuals involved in the process of adopting the CRM. A total number of 109 casinos' managers from all over the world have been surveyed about the factors' importance for the CRM adoption. Based on the multiple regression and ANOVA analysis, an estimated function of the influence of the most important umbrella factors -human, project and technological, for the success of CRM project in a company has been formulated. The highest rated elements in successful cases of CRM adoption are almost entirely bound to human factor. CRM systems are estimated to evolve further into a direction of individual customer experience management and become more and more intelligent, integrated and data-driven.

The aquaculture sector stands at a crossroad because of the important changes in the business env... more The aquaculture sector stands at a crossroad because of the important changes in the business environment.
The demand and competition for farmed fi sh is increasing worldwide, and so is the awareness of the importance for further development of sustainable small business. In this view innovation is crucial to promote sustainable business models that can achieve a solid economic performance and at the same time take care of the natural environment. The purpose of this paper is to contribute to the literature about sustainable business models by an in-depth case
study of a small fi sh farming company. The exemplary case study of a sustainable business model in aquaculture has been analysed by use of an enhanced business model canvas that links various market oriented elements of a business model with the needs of society.

Kybernetes , 2013

Purpose – The purpose of this paper is to explore and clarify the cause and effect relations betw... more Purpose – The purpose of this paper is to explore and clarify the cause and effect relations between key performance indicators (KPIs) which significantly contribute to the benefits of the business processes exploitation in the Luka Koper, d.d. Company.

Design/methodology/approach – The paper developed a single equation microeconomic error correction model (ECM) with the Engle and Granger two-step method. With the ECM approach, the paper performed application on the KPIs and estimated short- and long-term effects between them.

Findings – From the final ECM model, it can be recognized that the total turnover has been increased, by increased maritime throughput. Increasing the maritime throughput means a reduction in electricity consumption per tonne reloaded and increasing consumption of fossil fuels and water. Revenue per unit of maritime throughput has a negative regression coefficient, which may lead to an increase in income or increased amount of maritime throughput and simultaneously reducing the cost per tonne reloaded. Results are reflecting the impact of sharp declining in maritime throughput with the greatest added value in the years 2007 and 2008. All these results and observations suggest that an error correction mechanism exists and that the paper set up a stable model, which describes the dynamics of short-term determinants of the long-term service performance.

Research limitations/implications – The following limitations exist to this study: sample size and quality of the data that were available and the quantitative analysis in the four perspectives of the Kaplan and Norton's balanced scorecard (BSC). Since this is the case study that investigates the impact of the KPIs' on the results and causalities between them, the paper also encountered the data, which are treated as a business secret. Further research into the impact of introducing the four perspectives of the BSC to monitor the implementation of strategies and strategic projects is recommended.

Practical implications – The presented quantitative approach is useful in combination with a qualitative approach, which is a common practice in determining the causal relations resulting in the strategic map of BSC. Simulations of the developed model are possible on all levels of management, by combining the KPIs, and consecutively acquire new knowledge about their relations. Developed quantitative approach supports improving the monitoring of operational efficiency of an organization, improving business processes, project efficiency and achievement of the strategic goals.

Originality/value – Developed approach supports identification and classification of strategic goals and their KPIs that are best suited for inclusion in the BSC strategic map, improvements to the monitoring of implemented strategic initiatives and achievement of strategic goals.

Published in M. Bray, A.E. Mazawi & R.G. Sultana (eds.), Private Tutoring across the Mediterranean: Power Dynamics and Implications for Learning and Equity (pp. 167-176)., 2012

This chapter presents an exploratory study of discourses about private tutoring. Slovenia, as a y... more This chapter presents an exploratory study of discourses about private tutoring. Slovenia, as a young democracy just entering its third decade, is still struggling to embrace the free market economy. It has many grey areas with no or little tax regulation. Private tutoring has been widely recognised as one of the strongest components of the shadow economy, but no previous research has been undertaken on its scale and implications. For the present study, a qualitative analysis was chosen to explore the content and nature of discourses on different forums and websites reflecting both demand and supply of tutoring. The findings are discussed and compared with international knowledge about the phenomenon.

Annales, Series Historia et Sociologia 01/2012; 22(2):19-29. pp.19-29

From once common delta marshes, which were shaped into the saltpans, found near all the coastal t... more From once common delta marshes, which were shaped into the saltpans, found near all the coastal towns of Slovenian Coast, there are only few coastal wetlands left. The concessionaire of Sečovlje Salina Nature Park is entitled to use the natural pans for traditional salt-making; in addition, under the laws and regulations the concessionaire is allowed to perform certain activities in the Park: management of the Park, development of sustainable tourism and the farming of aquatic organisms. This paper provides an overview of trends that affect the planning of tourism in protected areas, the growth and diversification of this niche market, and the potential benefits and risks of merging tourism with natural and cultural heritage. Through the analysis of the content documents, the case study of planning for sustainable development in the protected area is examined: the sensitivity of development of infrastructure and services, tourism marketing and management challenges in a secure area, and tools for tourism management.

Cuban tourism gained momentum after the USA relationship improvement. Marginalized country, myste... more Cuban tourism gained momentum after the USA relationship improvement. Marginalized country, mysterious and exotic, famous for excellent rum, nice tropical weather, sensual music and dance, famous cigars and resourcefully maintained classic cars, is now looking for investors in tourism infrastructure. Tourism sector represents an important source of revenue for the country, right behind the health services export. European tourists are among the most numerous visitors of island; tourism is increasing from year to year, as the fear grows that the paradise will disappear soon. As the demand expands, so does the need for the improvement of tourism infrastructure. Country is in a bad shape, money is needed to maintain free health and education systems. The Cuban Tourism ministry is considering an increase from 63,000 hotel rooms to 85,500 by 2020, and planning new resorts with the help of foreign investment (eTN 2016). With the research of economic and social changes these plans will bring to the society, we evaluate the possible scenarios for regional development and their consequences. Literature review and content analysis of available data and documents have been deployed.