Publishing House

The publishing house for Multidisciplinary Research Journal Olcinium is EURO PROJECT (EP), a Non-Governmental Association, located in Ulcinj Montenegro.


EP is mainly concerned with conducting reserach in Social Sciences, Humanities and Natural Sciences fields, therefore providing unique, authentic and quality based research regarding issues of the abovementioned fields.

EP’s main mission is strengthening the scientific researches among scholarly researchers, contributing to a faster development of the Ulcinj municipality, bringing additional income, developing cooperation with other institutions and allowing faster transfer of knowledge and technology. Its funding sources are national and international. They come from the conferences and publishing’s they realize.

Development Program

1.0.0. Objectives of scientific research

In its program, the EP has defined the basic goal of the work and then several derivative (derived) goals.

The main goal of the EP is to create premises for fundamental scientific research in areas that are of vital interest for the medium and long-term development of the municipality of Ulcinj. The EP will achieve this goal by hiring experts and scientists from the knowledge market, and at the same time improve its own staff. As the EP has defined several fields of research, it will have to provide adequate interdisciplinary staff. Unfortunately, Ulcinj does not have such staff, so it will have to hire staff from the market. It is a harder and more expensive path for growth and development, but it is inevitable. Therefore, the active support of the entire Republic of Montenegro is expected, especially the Ministry of Science and Development, as well as the Ministry of Education. Derivative targets can be classified into two groups:

  1. a) Group of goals related to development research and
  2. b) Group of objectives related to applied research.

2.0.0. Scientific research areas of the EP

According to the Law on Scientific Research, the EPwill work within the social and natural sciences. The main activity will take place within the field of economics, especially business economics. According to the current state of classification, business systems management is not defined as a separate area. The main problem in defining the area that the EP will deal with is the transdisciplinary of management as a science and skill. Several scientific fields are integrated in solving the problems of functioning and management of the company. According to the existing plans, the EP will deal mainly with the following areas of research:

  • Area of ​​economics.
  • Area of ​​economy.
  • Area of ​​law.
  • Mathematical-statistical and information sciences.
  • Sociological sciences.
  • Areas of training and retraining of personnel for the needs of the economy.
  • Areas of publishing and librarianship.
  • Area of ​​education of professional and academic educational profiles of staff.

The most represented area of ​​research at the EP will be economics, especially business economics. The order of the other enumerated areas will depend on the interests and needs of the market, as well as the socio-political community.

3.0.0 Research program in 2013

Scientific research and educational programs offered by the EP for Scientific Research and Development in Ulcinj can significantly facilitate and accelerate the development of local companies, as well as companies in the region. The goal of the EP is to create conditions for teamwork would enable the transfer of knowledge and results on the route; EP of Economics. The development of Ulcinj and the wider region imposes the need to establish close ties between the EP and companies in order to improve the management system and strengthen their competitiveness in conditions of increasingly fierce competition, on the one hand, and providing assistance in overcoming the crisis, on the other.

3.1. Thematic areas

In the period of 2012, the EP for Scientific Research and Development will deal primarily with research in the field of business economics (business operations). He will try to contribute to the faster development of companies in Ulcinj, and even the wider environment. He will pay special attention to companies in the field of tourism.

Occasionally, scientific and professional courses and seminars will be held where it will be possible to get the latest achievements in certain areas.

3.1.1. Increasing the performance of Ulcinj and even Montenegrin companies (BENCHMARKETING)

Montenegro has not developed a method of comparison, benchmarking, which is applied in almost all major companies in the world. At this EP, all available methods and models of benchmarking will be developed with the aim of measuring the efficiency of business of a company, group of companies, and even certain functions of a company. For us, benchmarking, as a modern technique and management model, is especially important because it allows faster adaptation to changes that our country is facing, which allows our companies to survive in the market but also increases market competitiveness and advantage. Ulcinj will have its own benchmarking model that will be adaptable and adaptable to the needs of different companies. For certain areas such as:

  • Project Management.
  • Technology management.
  • Organization management and other areas.

There are ready-made models of benchmarking and they can be adapted to the needs of the customer. In addition to the above, it is possible to form and report:

  • Internal benchmarking.
  • Performance benchmarking.
  • Functional benchmarking.
  • Generic benchmarking.

3.1.2. Changes in business efficiency as a consequence of ownership transformation

In Montenegro, for the past twenty years, as part of the transition process, ownership transformation has taken place. In this area, the EP will work on further refining and deepening the ownership transformation, especially in medium and large companies. There are still some companies in Montenegro that have not fully succeeded in privatization.

4.0.0. Improvement and control of production and consumption of safe food

In this area of ​​research, the EP will focus on:

Organic production and production of safe food as a prerequisite for cooperation with companies in the region.

Management, protection and use of biodiversity.

Development and improvement of technologies in the field of health safe food production.

Sustainable and ecologically safe development of the country can be achieved by developing a strategy that will be based on the development of organic agriculture and production of healthy food, development of eco-tourism, preservation and protection of the environment from pollution and regional integration.

The production and offer of health-safe food requires: revitalization of existing rural settlements, formation of eco-villages, encouragement of the return of young people to the countryside with their additional education for the production of healthy clean food.

It should be emphasized that for the produced healthy food, Montenegro does not have to think about placement. Everything that is produced, tourism will consume. This form of sale represents; economic exports, increases the image of Montenegro, achieves competitive prices, reduces costs and directly affects the country’s balance of payments.

Excessive and inadequate exploitation of natural resources (intensive logging, unbalanced agricultural production, excessive hunting and fishing, etc.) lead to threats to biodiversity. A number of indigenous plants and animals are on the verge of extinction. In order to maintain balance, it is necessary to define a critical mass that must not be disturbed. All of the above requires an active role of professional people at the EP and faculties who have the capacity to plan, determine critical masses and control it all. A special place in the preservation of biodiversity must have the training and advanced training of staff, even if it was a matter of picking medicinal plants, and pickers should be trained for that.

5.0.0 Company competencies

The world attaches great importance to the competence of companies. In Montenegro, we are still talking and learning about this business philosophy. No models or methods have been developed for measuring the competence of a company, so we cannot talk about valuation. The EP for Scientific Research and Development of INI in Ulcinj will pay special attention to this problem.

6.0.0. Interculturality of business

There are several foreign companies in Montenegro, which act as majority or minority owners. Regardless of the way of managing that company, with their arrival they bring new ways of doing business, a new business culture and many other so-called soft factors.

Through research in this area, the EP will be able to help multinational companies to adapt to the specifics of Montenegrin culture and vice versa, so that Montenegrin companies in cooperation with foreign companies more easily and quickly accept differences in culture and behavior.

7.0.0 Influence of demographic factors on the development of innovative (entrepreneurial) activity in Montenegro

Entrepreneurial ability and activity are significant factors of business success, and thus economic growth. Research has shown that countries with a high level of entrepreneurial ability and activity create the preconditions for greater potential for efficiency and effectiveness.

Entrepreneurship is the result of several factors:

  • Favorable infrastructural conditions.
  • Planned government development programs.
  • Economic measures and the milieu in which companies operate.
  • Local acceptance and demographic factors.
  • Favorable infrastructural conditions include:
  • Availability and funding conditions.
  • Access to land.
  • Favorable communal factors.
  • Roads and telecommunication networks.
  • Existence of business incubators, especially at the local level.

The experience of developed countries shows that entrepreneurship contains a lot of risks. In developed countries, only about 10% of entrepreneurs succeed and the rest fail even two years ago.

One of the plans of the EP is to use its knowledge and information possibilities to help and encourage the innovation of entrepreneurs. The EP, in cooperation with the Chamber of Commerce and the Labor Market EP, would organize the development of feasibility studies and business plans and thus directly contribute to a higher percentage of successful beginners in private, family business.

8.0.0. EP and Banking Management

In the field of banking management, the EP will work, primarily in the following areas of research:

  • Risk management and crisis management in banks.
  • Modeling and application of models in banks from the aspect of interest rate and other risks.
  • Development and application of models in credit risk assessments.
  • Application of new models in mortgage lending.
  • Training and development of staff in the fields; marketing, management, mortgage appraisals, mortgage sales, all related to banking.

The EP will also focus on investment banking. Serious investments usually involve financial support from banks.

Rarely has any business area developed and perfected new products and services so quickly, as banks have done. Banks are still expected to be leaders in this field. Therefore, the EP plans to seriously address this issue.

9.0.0. Types of research work

The EP for Scientific Research and Development will primarily deal with applied research. The results of applied and development research will open opportunities for fundamental research.

The results of the research will be applied in companies, their associations, chambers and other stakeholders

The projects will be financed by the client from the economy, social community (municipalities, local communities, associations, etc.), the Ministry of Science and Development, Environment, Tourism, etc.

The results of the research commissioned by the authorities of the Republic of Montenegro will be published in scientific journals. The evaluation of the success of individual projects, ordered by the republic, will be measured by the number and quality of published works. The following criteria will be used when evaluating applied research projects:

  • Scientific basis of the proposed research.
  • Level of research originality.
  • Applicability of research results.

Scientific competence of the project manager and members of the research team. Projects that will be done for the needs of the economy and its associations, will be published only with the consent of the client.

10.0.0. Development of scientific cooperation

This year, the EP will make a plan of cooperation of the EP  with other scientific institutions in Montenegro. Also, the EP plans to establish cooperation with the following universities and their institutes and faculties outside the Republic of Montenegro:

  • University of Belgrade.
  • University of Novi Sad.
  • University of Pristina.
  • University of Tirana.
  • Shkoder University
  • University of Sarajevo.
  • University of Dubrovnik
  • University of Split, etc.

With the mentioned universities, our EP will choose the fields of cooperation and determine the adequate institution within the given university.

Special attention in choosing cooperation, the EP will pay to areas; tourism, food production and ecology.

11.0.0. Development of publishing and documentation-information activities

The first publishing activity of the EP will be the formation and publishing of the EP’s journal. Then, the formation and completion of the library follows, which with its bibliography would create the premises for the further development of the EP, the establishment of a faculty and a higher vocational school.

The EP will pay special attention to the translation service in the following languages:

  • Montenegrin.
  • Albanian.
  • Serbian.
  • English

12.0.0. Library of the EP for Scientific and Developmental Research INI

The library of the INI EP will be formed in 2013. From the very establishment of the EP, all scientists who will sign cooperation agreements will be immediately engaged to donate copies of their works to the library, either in reprint or in electronic form.

An invitation will be issued to all donors to donate their own or other people’s publications to the library. Various humanitarian and other funds will be asked to help the library’s holdings.

The expectations of the founders of the EP are that in the first year, the fund of publications will increase to two thousand works.

The library will receive its first editions from its associates, whether they are employed as full-time employees or as an external associate or advisor. Two types of donations will be obtained from this source:

Donated earlier editions and

Editions to be published by work at the EP.

A good portion of the issue will be obtained through exchanges or purchases. The EP will pay special attention to the Ulcinj diaspora in America and Europe. Through the people of Ulcinj who live and work in these countries, a significant fund of publications will be provided, both original and some translated into some of the languages ​​that are of interest to the EP.

A special form of library work will be; presentations, exhibitions and sales of plaintiffs and their publications.

Cooperation agreements with all major libraries in the country and abroad will be made and offered.

13.0.0. Establishment of a higher education institution within the EP

After the completion of the first phase of the development of the EP, the establishment of a higher education institution, a faculty or a higher vocational school, will begin. Regardless of the choice of the form of education, the programs will not change. It will be an institution that will deal with the training of staff from two economic areas that are of special interest for the area of ​​Ulcinj and its surroundings. These areas are agriculture and tourism. Within such a high institution will be formed:

  • Hotel and catering department.
  • Agricultural direction.
  • Commercial direction.

The possibility of certain rearrangements of the planned directions is not excluded, as well as the addition of some new ones that Ulcinj and its economy will be interested in. This EP will work in alignment with the subjects that will contribute to the overall development of Ulcinj.