LEGAL FRAMEWORK OF EMERGENCY SITUATIONS IN THE AUTONOMOUS PROVINCE OF VOJVODINА
Emergency situations are an element of every state and society, including the Republic of Serbia and its Autonomous Province of Vojvodina. Whether triggered by natural disasters or human actions, such crises result in significant loss of life, severe environmental damage, and substantial material losses. Defining an adequate legal framework for emergency situations is a key element of managing emergency situations and protecting the population from various threats, including natural disasters, technological breakdowns, epidemics and various social conflicts. The subject of research in this paper is emergency situations, more precisely, the analysis of legal regulations related to emergency situations in the territory of the Autonomous Province of Vojvodina, with an emphasis on the Law on Disaster Risk Reduction and Emergency Management. The positive legal method and the logical methods of induction and deduction were used in the analysis.
The impact of budget deficits on GDP in EU countries from 2000 to 2022
The budget deficit is a topic that has a significant impact on economic development and stability. It occurs when government spending exceeds revenues, which usually leads to borrowing in order to cover the difference. The deficit can have both positive and negative effects, depending on how it is used and the current economic situation. This scientific paper investigates the impact of budget deficits on GDP in EU countries. The research was conducted for the period from 2000 to 2022. The aim of the study is to assess the impact of budget deficits on GDP by reviewing relevant literature and using a statistical model, specifically the GLS model in the STATA software package. In addition to budget deficits as the independent variable, the variables of inflation, healthcare, unemployment, and savings were also used. Based on the conducted research, a significant positive impact of budget deficits on GDP in EU countries was determined. Other potential factors that could have an impact were not included in the model, which may lead to bias due to omitted variables. Although the research employed advanced techniques for panel data and addressed challenges such as unbalanced panels and the presence of heteroscedasticity and autocorrelation, remaining effects may still influence the results. Future studies could include more macroeconomic variables, such as interest rates, trade balances, and the structure of public debt.
The Role of Artificial Intelligence in Tourism Marketing - Brief Overview of Serbian Situation
In recent years, the dynamic development of information and communication technology had a huge impact on marketing. Today, we are witnessing a new revolutionary transformation: artificial intelligence (AI) is revolutionizing the world of business, education, healthcare, tourism, marketing, etc. AI is already an integral part of our present, and can be applied in many areas. New opportunities are also opening up in the world of tourism marketing. In this study, some of the most important opportunities for the use of AI in marketing and tourism marketing are presented, also the situation in Serbia is presented, i.e. where is the use of AI in the country in general and in the field of tourism marketing.
EXPLORING THE RELATIONSHIP BETWEEN CHARACTERISTICS OF EXTERNAL COMMUNICATION AND USER EXPERIENCE - CASE OF UPWORK FREELANCING PLATFORM
The aim of this research was to examine the relation between different communication channels, response times and user experience on the online platform Upwork. The sample included 300 users of the platform who assessed satisfaction, efficiency, and trust in service providers based on interactions through various communication channels (Upwork platform, email, video calls, and instant messaging). The results of the correlation analysis showed a significant correlation between satisfaction and efficiency and between satisfaction and trust, while the relationship between efficiency and trust was also positive and statistically significant. ANOVA showed that there was a significant difference in the average level of customer satisfaction between different communication channels. A regression model for predicting satisfaction based on response time and choice of communication channels showed that shorter response times and the use of video calls significantly contributed to higher satisfaction. The results indicate that choosing the right communication channel and response speed can play a key role in improving the user experience on online platforms.
CAPITAL BUFFERS AND LENDING DURING A CRISIS: CASE OF SERBIA
Capital buffers ensure that banks will have the capacity to absorb any losses in the event of a financial crisis. Maintaining capital buffers at a high level enables banks to continue lending during times of crisis, protecting the stability of the financial system. On the other hand, banks may decrease lending activity in order to maintain capital adequacy if capital buffers are established at a low level, which could exacerbate the economic downturn. To guarantee economic recovery, it is therefore essential to find a balance between establishing and maintaining financial stability and credit activity during times of crisis. The capital buffers that banks in the Republic of Serbia have been required to set aside since Basel III was implemented will be analyzed in this paper along with an examination of the lending activity trend during times of crisis, including the coronavirus pandemic, the energy crisis, high inflation, and significant geopolitical tensions. As loan activity recovered, the research revealed that the Republic of Serbia's banking sector kept adequate capitalization during periods of severe crisis.
IMPACT OF SCHEMES ON THE FORMATION OF FINANCIAL STATEMENTS IN THE PUBLIC SECTOR
USERS OF PUBLIC FUNDS ARE REQUIRED BY LAW TO PREPARE FINANCIAL REPORTS, WHICH PROVIDE INFORMATION ON THE FINANCIAL POSITION, RESULTS AND CHANGES NEEDED BY MANAGEMENT IN MAKING THEIR ECONOMIC DECISIONS. THE GOVERNMENT OF THE REPUBLIC OF SERBIA CONTINUED WITH THE PUBLIC FINANCIAL MANAGEMENT REFORM PROGRAM FOR THE PERIOD 2021-2025, WHICH AMONG THE OTHER SCOPE AND A SPECIAL OBJECTIVE - IMPROVEMENT OF ACCOUNTING IN THE PUBLIC SECTOR BY APPLICATION OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS). THESE STANDARDS WILL ACHIEVE GREATER TRANSPARENCY OF REPORTING, BECAUSE WE WILL GET INFORMATION ON THE ASSETS, LIABILITIES, NET ASSETS, INCOME AND EXPENDITURES OF THE ENTIRE PUBLIC SECTOR BY USING THE ACCOUNTING BASIS. THE STRATEGIC GOAL OF ACCOUNTING IN THE PUBLIC SECTOR OF THE REPUBLIC OF SERBIA IS THE FULL IMPLEMENTATION OF IPSAS BY 2034. In order to fulfill this goal, we need to unify the accounting software of the budget users, the main books, auxiliaries to easier business, consolidation. AUTOMATION OF POSTINGS IN THE TREASURY'S GENERAL BOOK AND COMPILATION OF FINANCIAL REPORTS. WE WILL ACHIEVE MORE RELIABLE AND OBJECTIVE FINANCIAL REPORTING IF WE IMPROVE INFORMATION TECHNOLOGY, IN A WAY TO INCORPORATE CRIMINAL SCHEMES WHICH WE WILL DISCOVER ERRORS WELL AND SUFFICIENTLY PERSPECTIVE: INTENTIONAL OR UNINTENTIONAL AND CONTRIBUTE TO MORE ECONOMIC, EFFICIENT AND EFFICIENT MANAGEMENT OF PUBLIC FUNDS. IN THIS, A YOUNG SCIENTIFIC DISCIPLINE WILL HELP US WITH MANY SPECIFICITIES - FORENSIC AUDIT. THE GOVERNMENT AND ITS INSTITUTIONS ARE INTERESTED IN INFORMATION ON THE EFFICIENCY OF USING ALLOCATED RESOURCES FOR DEFINING FISCAL POLICY, KEEPING STATISTICAL RECORDS ON NATIONAL INCOME AND OTHER DATA NECESSARY FOR LEADING THE POLICY OF DEVELOPMENT OF THE NATIONAL ECONOMY.
Tinker, Tailor, Soldier - Awry? Assignment Problem in Disinflation Endeavours
Abstract: Overcoming macroeconomic hurdles as a trade assumes that branches of government are almost continuously charged with various assignments, or particular tasks attached to a finite set of resources and talents owned by organisational subunits with decision rights in corrective policy-making. Even though open-economy cases of disinflation programmes reminded us quite a while ago that one task need not be assigned to one single resource exclusively, the overwhelming belief in mainstream macro to this day is that monetary policy remains chiefly responsible for both causing and stopping harmful inflation spirals. This paper, however, follows a novel wave of literature which doubly questions the aforementioned notion. It appears that the usual suspects for recent rise of inflation worldwide are found not guilty, hence we stand by the rare few who advocate that inflation in a modern non- Ricardian setting, when it finally spiraled out of control, represents but a legitimate and inevitable consequence of irresponsible fiscal policies and unsustainably high public (and private) debts. Moreover, due to familiar if reversed Fisherian effect, intermediated monetary restriction via interest rate hikes turns out to be unsafe, rather controversial reaction of central banks when it comes to reasonably swift and reliable preference for an outcome of such disinflation endeavours.
Macroeconomic Developments and the Influence of Inflation on the Performance of Small and Medium-Sizen Enteprises and Entrepreneurship in Serbia
ABSTRACT: Today, entrepreneurs and small businesses (SMEEs) represent a driving force of the national economy, a key component of the innovation cycle and knowledge transformation into new products and processes. The importance of this sector is well recognized due to its significant contribution to gratifying various socio-economic objectives, such as job creation and employment possibilities, poverty reduction, inclusive growth of the economy, social cohesion and fostering entrepreneurship (innovations, ideas, skills). SMEEs also increase competition among themselves, heat up the market scenario and represent vital subcontractors to large enterprises (’the elephant and bee alliance’). At the same time, throughout recent history, this sector has shown exceptional toughness and resistance to crises, risks, uncertainty and insecurity. Today, the global economy faces an exceptional moment of uncertainty. Geopolitical risks will be the key threat to the economic outlook for 2024. Rising geopolitical tensions and global financial risks, high inflation, tightening monetary and fiscal policies, labour shortages, high trade barriers and slowing integration into global value chains all contribute to a more challenging business environment for SMEEs. High and persistent inflation has become a clear and present danger for many countries around the world. The aim of this paper is to analyse how recent changes in macroeconomic environment in Serbia, expecially inflation, affect the dynamics and challlenges of SMEE economic performance in the short and medium terms.
An impact of inflation on the neo-Keynesian Phillips curve - the case of The Republic of Serbia
Phillips curve has become systematic instrumentation that elaborates macroeconomic analysis showing relations between unemployment and inflation, illustrating the trade-off between achieving full capacity engagement and maintaining price stability. The New Keynesian Phillips curve presumes that expectations of inflation are not adaptive and rational, as withheld from Lucas’s theory. ANew Keynesian Phillips curve was there as a result has emerged which is distinctive from the curve modeled by Phelps and Friedman In 2023 counting a peak of 16.2% in March, inflation rate gently declined to 10.2% in September, and helped by reducing pressure from food prices. Projected inflation is to decelerate further till the end of 2023 and in next year, based on effects and tighter financing conditions. Although some increase in 2023 is evident, approximate yearly inflation is expected to be single digits in 2024, returning within the central bank’s target in two years. This paper will present The New Keynesian Phillips curve in the Republic of Serbia (Serbia), as well as macroeconomics predictions in the country.
MACROECONOMIC EFFECTS OF CONSUMER ETHNOCENTRISM IN BOSNIA AND HERZEGOVINA
ABSTRACT The subject of research in the paper is the social phenomenon of consumer ethnocentrism, which is characterized by an emotional state of attachment to everything that belongs to the country where the consumer lives. The aim of the paper was to analyze the macroeconomic effects of consumer ethnocentrism in Bosnia and Herzegovina. Losses for the national economy in terms of employment, production, taxes and contributions, as well as other social effects were analyzed with the assumption of substitution of imports by domestic production of products of the processing industry in Bosnia and Herzegovina, possible additional employment in manufacturing companies, and the effects of paid taxes and contributions for additional employment for pension and disability insurance, health insurance and unemployment insurance funds in Bosnia and Herzegovina in the period from 2009 to 2013. The amounts of losses per entities of the Federation of Bosnia and Herzegovina, Republic Srpska and Brčko District of Bosnia and Herzegovina were determined. The results of the research can serve as leverage for investments in domestic production, increasing employment, and creating commodity reserves that would be reflected in domestic products.
MANAGERIAL STRESS IN THE PROCESS OF DIGITAL TRANSFORMATION OF ORGANIZATION
Digital transformation is an essential process in modern business that enables organizations to fundamentally redefine their operations, communication, and business models through the integration of digital technologies. This process represents more than a mere technical upgrade; it is a profound change that requires the inclusion of technology in the foundation of daily activities in order to improve efficiency, innovation, and competitiveness in the market. In the context of globalization, rapid adaptation to digital trends becomes crucial for preserving market position, and successful implementation of digital transformations can result in significant savings, resource optimization, and productivity improvements. Digitization also enables a better understanding of customer needs through the analysis of large amounts of data, contributing to the creation of personalized products and services. However, digital transformation also brings challenges, including managing organizational change, managerial stress due to rapid decision-making, continuous learning, and the need to adapt to new technologies. As a general phenomenon and an eminent factor of business activities, managerial stress manifests in different ways across the wide range of actions in the process of digital transformation of organizations. Human resource management is important in managing stress in the process of digital transformation of organizations, directing it into optimal frameworks where it manifests a positive dimension, aimed at enhancing the success of both individual business activities and overall results in the process of digital transformation of organizations.
CONTEMPORARY BUSINESS: WHEN COMMUNICATION AND CULTURE MEET
As cultures in contact are inevitable, we tried to emphasise that the readiness to maintain intercultural communication is essential for survival in a world as globalised as today's. Due to the inevitable changes that have taken place in the field of modern business, the application of information and communication technologies contributes significantly in areas such as competitive advantages, quality of services and products, and overall corporate activities. In this regard, it is necessary to completely reset attitudes and mentality from the past and change how companies communicate inside and outside their walls with employees, clients, suppliers, and interested parties. As essential for achieving a fruitful outcome, willingness and motivation to understand and get to know the culture with which one cooperates is almost indispensable. To promote a true spirit of collaboration, companies must first recognise communication's strategic role in their management, implementing a well-defined global communication plan that includes external and internal communication strategies. This approach is vital to establish genuine cooperation between the associates who make up and give life to the organisation. Above all, it is crucial to have a relationship between them and create an effective and efficient communication channel. Therefore, organisations must take an active role in collaboration and knowledge management.
CAUSES AND EFFECTS OF TECHNOSTRESS IN THE WORKPLACE: A SYSTEMATIC LITERATURE REVIEW
ABSTRACT: Modern life circumstances have led to the fact that people spend more and more time connected to their computers. As digital technologies become present in societies, the psychological and physical effects of its use become evident in its users. The aim of the paper is to explain the creators and effects of technostress in the workplace. The paper presents an overview of the research results so far in the field of digitization of the workplace. The most significant factors of technostress that have been identified are: creators of technostress, use of technology, multitasking, uncertainty about new technologies and exposure to screens. Technostress has significant effects on work productivity, employee health, commitment to the organization and business decision-making. Literature sources include scientific papers published in various scientific databases. The limitation in this paper is the impossibility of accessing all articles dealing with the topic of technostress. The results can serve as a foundation for understanding the challenges that managers face in modern business conditions.
Sustainable ecomomy through concepts of viral marketing in sustainable building
Smatra se da su osnovne funkcije u kompaniji marketing i inovacije čije su osnovne aktivnosti usmerene na stvaranje profita. Sve ostalo se posmatra kao trošak. U tom smislu marketing se smatra sektorom čije su aktivnosti obavezne i neophodne u svakoj kompaniji. Savremeno doba je donelo tehnološke revolucije, u kojima se promene dešavaju svakodnevno. Iz tog razloga kompanije imaju težak zadatak da pronađu način koji će biti jedinstven i kreativan kako bi privukli, a potom i zadržali kupce. Viralni marketing kao tehnika marketinške revolucije u tu svrhu koristi socijalne medije umesto „usmene reči” kako bi se masovno predstavio proizvod potrošačima. Cilj viralnog marketinga je da probudi emociju kod potrošača, da oni njihovu emociju proslede drugima i da se poruka koju su osetili prenosi poput virusa. Iako se često smatra da funkcija marketinga ne mora biti zastupljena u određenim delatnostima i aktivnostima, zelena agenda održivog razvoja i gradnje rado upotrebljava viralni marketing i društvene mreže i na taj način, pored klasičnog posmatranja održivosti kao inovativnog i kreativnog poslovanja i gradnje, koristi tehnoligije, Internet i društvene mreže koje pružaju čitav niz novih mogućnosti za inovativan i kreativan pristup globalnom tržištu.
This paper examines the political economy of populism, with a focus on Central and Eastern European (CEE) countries. Following the global financial crisis of 2008, Hungary and Poland developed distinct populist economic programs, which have started to influence other CEE countries, including Serbia. This paper explores the causes of populism, the transformation of post-crisis economic models, and the specific economic policies characterizing populist governments in the region. Through in-depth case studies of Hungary, Poland, and Serbia, the research highlights how these policies are underpinned by economic nationalism, workforce activation, natalism, and sovereignty. Furthermore, the paper investigates the impact of these policies on attracting new foreign investment sources, particularly from authoritarian states in the East.
QUALITY 4.0 AND HR PRACTICES AT LIGHTHOUSES OF DIGITAL TRANSFORMATION
Quality 4.0 is a fascinating subject that interests both theoreticians and practitioners alike. As technology continues to advance, this topic is only going to become more distinguishing. This paper elucidates the concept of Quality 4.0, its advantages, and the crucial factors required for its implementation in companies. Importantly, it highlights the significance of having a competent workforce. The paper analyzes the human resource management practices that affect Quality 4.0 and identifies the most effective ones by studying companies that have succeeded in the process of digital transformation. By comparing the use cases of 9 "Lighthouses Network" companies of digital transformation in quality management and the HR practices they apply, the paper identifies the ways of working, and human resource management practices that lead to the effectiveness of Quality 4.0.
The VOLUME OF FOREIGN TRADE IN SERBIA AND NORTH MACEDONIA
The Western Balkans region has directed its economic growth and development through the integration of national economies into international trade flows. Given that all countries in the region have faced the consequences of the Covid-19 pandemic, the overall situation has also affected foreign trade relations. Although the European Union is the largest trade partner of the countries in the region in recent decades, the presence of the People's Republic of China and its influence on the region's trade is becoming more and more noticeable. The aim of this paper is to analyze the state of foreign trade in the case of Serbia and North Macedonia. as the countries of the Western Balkans region and to point out the directions of future trade relations in the case of these two countries. The research is based on descriptive data analysis in the period 2010-2020. while the data used are available in international and domestic statistical databases. The paper consists of three chapters. After the introduction, the first chapter analyzes the dynamics of foreign trade in the Western Balkans. The second chapter is based on the analysis of the trend of foreign trade in Serbia, while the third chapter analyzes the trend of foreign trade in North Macedonia. Finally, concluding remarks are given. The results of the research showed that the current state of foreign trade was greatly affected by the pandemic crisis, but that the perspectives are mainly focused on increasing trade with the EU and China. Although in 2020, there was a decline in economic activity and a slowdown in global trade, the value of foreign trade in these countries has increased, but with the growth of the foreign trade deficit.
EVALUATION OF TRADE EFFICIENCY IN SERBIA BASED ON DEA SUPER-RADIAL METHOD
The issue of measuring and analyzing the dynamics of financial performance and trade efficiency is continuously current, significant and complex. Based on that, this paper measures and analyzes the financial performance and efficiency of trade in Serbia using the DEA ( Data Envelopment Analysis) Super-Radial model. According to the results of the Super-CCR-I model in the period 2002 -2021. trade in Serbia was not efficient in any year. And according to the results of the Super-CCR-O model, Serbia's trade in the period 2002 - 2021 was not efficient in any year. So, it was necessary to manage the analyzed input-output elements more efficiently. According to the obtained results of the Super-BCC-I model in the period 2002 - 2021, trade in Serbia was efficient in 2020 and 2021. Among other things, in other years it was ineffective due to poor management of the observed input - output elements. According to the results of the Super-BCC-O model, Serbia's trade in the period 2002 - 2021 was efficient in 2002 and 2015. In other years, among other things, due to inadequate management of the observed input - output elements, it was ineffective. In order to improve the financial performance and efficiency of trade in Serbia in the future, it is necessary, among other things, to manage input - output elements (human resources, assets, capital, sales and net profit) as efficiently as possible. Digitization of the entire business plays a significant role in this. Likewise, it is necessary to greatly mitigate the negative effects of the energy crisis.
INCOME CONVERGENCE IN THE NEOCLASSICAL GROWTH MODEL: THE EXAMPLE OF THE WESTERN BALKAN STETES AND THE EUROPEAN UNION
Income convergence represents catching up of countries with different development levels, i.e., faster income growth of the less developed countries then developed ones in a certain period of time. The income convergence hypothesis was first introduced by Robert Solow in his neoclassical growth model, based on the assumption of diminishing returns on capital. The subject of this paper is a theoretical presentation of income convergence in the neoclassical growth model, as well as an empirical analysis of the income convergence hypothesis. The paper will present absolute and relative income convergence through graphical and theoretical analysis. In addition, the paper will present previous research on income convergence, with empirical verification of the income convergence hypothesis on the example of the Western Balkan states and the European Union. The results of the regression analysis showed the existence of income convergence in the observed countries in the period 1995-2020.
SUCCESSFUL COMMUNICATIONS AS AN ELEMENT OF EFFECTIVE MANAGEMENT OF EMERGENCY SITUATIONS
Although they are an integral part of human history, natural disasters have become more frequent and more devastating. The devastating effects of natural disasters, as well as technical-technological accidents and other social conflicts, lead to emergency situations. An emergency situation is defined as a situation when the risks and threats or consequences of disasters and other events are of such scope and intensity that their occurrence or consequences cannot be prevented or eliminated by the regular action of competent services and authorities. Communication is important for the successful management of an emergency situation. It is necessary to use all available communication channels so that key messages reach the public as quickly and efficiently as possible. The use of new technologies and media is becoming an indispensable means of communication in emergency situations. The role of state bodies, institutions and the media are to provide timely information about the necessary measures that need to be taken, as well as the transmission of key messages to the public. For the communication process to be successful, it must contain elements such as trust, honesty, transparency, reliability and accountability.
ABSTRACT: Modern business is characterized by turbulence and unpredictability of change. The position of the company is influenced by internal and external factors. Management has significant opportunities to influence internal factors while it cannot influence external ones. The prerequisite for quality management is timely knowledge of the strengths and weaknesses of the company. In order for a corporate company to be successful, it is necessary to timely analyze all elements that guarantee general material solidity, good reputation and prospects, as well as a good competitive position in the market, good development and production programs that guarantee a long life cycle and its correct strategy orientation. Solvency refers to business analysis that aims to determine and assess the quality of business. It shows how successful a certain company is, so it serves to assess the current financial situation as well as to assess future business and development. The aim of the research is to point out the importance of solvency assessment and to explain how information is collected that can be used to avoid business risks.
WHAT ARE THE BELLS RINGING FOR?! – A CONTRIBUTION TO UNDERSTANDING DEPENDENCE OF THE PANDEMIC AND GLOBAL TRADE
ABSTRACT: The outburst of COVID-19 pandemics has heavily contracted and structurally altered both the size and the flows of international trade through 2020 and 2021. Even though contagion effect on global trade is clearly a negative one for a number of reasons elaborated in the paper, we venture to argue that this is in fact an evolutionary, expected and unavoidable consequence of the very globalisation process. Among the key trends affecting the present and future of the international trade, roughly half of them are fully independent and the other half at best semi-dependent from the pandemics itself. In other words, it appears that the bell tolls for the wrong suspect, in as much as the two phenomena might be cointegrated, not to mention the ideological and operational confusion behind recently widespread deliberations to deploy trade policies in order to simultaneously achieve several non-trade objectives of dubious compatibility. Notwithstanding the grim clouds ahead and above, some Mediterranean economies -if prove able and flexible enough- may yet turn out to be the unintended winners of the silver lining.
DYNAMICS, SCOPE AND STRUCTURE OF EXTERNAL TRADE OF THE REPUBLIC OF SERBIA
The COVID-19 pandemic has changed global economic perspectives and led to a turning point in economic trends around the world, as well ass in the Republic of Serbia. With a detailed analysis of key figures of external trade of goods, the main aim of this paper is to appraise the position and results of the Republic of Serbia in the field of foreign trade exchange, as one of the most important indicators of economic activity. The methodology covered in the paper includes qualitative research techniques, such as analysis, comparative analysis, and synthesis. The first part of the paper deals with the trend of external trade in the past three decades, with special reference to the effect of the crisis caused by the COVID-19 pandemic. The second thematic unit analyzes the structure of the Republic of Serbia's foreign trade, according to the economic purpose of goods and the classification of activities. The focus of the third part is the territorial distribution of foreign trade of the Republic of Serbia by main economic and geographical zones, ie countries of purpose and origin. Finally, concluding remarks are given. We found that the Republic of Serbia has many possibilities to improve external trade, which should primarily focus on increasing exports, in quantitative terms, but at the same time not neglect to raise the quality and value of our export products.
FINANCIAL ANALYSIS OF THE EFFECTS OF CRM SYSTEM IMPLEMENTATION ON A CZECH COMPANY MEGA, A.S.
This case study is focused on the analysis of the financial outcomes of the implementation of a CRM system in a Czech company MEGA, a. s. The paper briefly informs about the history of MEGA, a. s. and their process of implementation of the CRM system. Based on this knowledge further analysis of financial indicators have been made. Calculations have been made based on company financial data. The conclusion is based on all quantitative and qualitative data that has been used for the research in this case study. The case study concluded that even though it is very much hard to quantify the outcomes of the implementation of the CRM system, an improvement in various indicators has been observed. That includes for example the productivity per employee or several rentability indicators.
THE IMPACT OF STOCK EXCHANGE TURNOVER ON GDP IN THE REPUBLIC OF SERBIA
Stock exchange turnover growth increases the capital performance within a country. This paper examines the stock exchange turnover trends after the global financial crisis while considering the novel COVID-19 global crisis in Republic of Serbia. Moreover, this paper estimates the correlation between the stock exchange turnover and GDP indicators. Since the COVID-19 crises is recent, the available official data for the last two years are not complete yet. Therefore, the aim of this research is to measure the impact of stock exchange turnover on economic growth in the Republic of Serbia for the period 2006-2020, with respective predictions. The methodological approach consist is the application of linear regression model, with previous statistical adequacy tests. The final results of this research indicate that the growth of stock exchange turnover has positive and statistically significant impact on GDP in this country. However, the prediction analysis indicates that the stock exchange turnover may have a negative impact on GDP in the next years, which is why there are several suggestions for decision makers and further research. Key words: stock exchange, BELEX, economic growth, correlation, regression, Serbia
SOCIO-ECONOMIC ANALYSIS OF THE QUALITY OF LIFE OF THE ROMANI POPULATION IN THE REGION OF THE AUTONOMOUS PROVINCE OF VOJVODINA
The subject of this paper is a social economic analysis of the quality of life of the Romani population in the region of the Autonomous Province of Vojvodina. Life on the ‘edge of poverty’, often endangering basic human needs and postulates worthy of a man of the 21st century, represents an imperative to a wide social community to include all its resources, so that the Roma have a dignified life and an equal status with other members of society. Seen from a sociological aspect, the concept of quality of life provides information on satisfaction with one's life and the degree of adequate functioning in the environment. In a theoretical sense, the position of each individual in society is influenced by some factors, which also apply to the Romani population. In order to establish someone's position in society, it is necessary to define criteria, which can be also called influencing factors. During the research, the principles of PEST analysis were used, with predefined political, economic, sociological-cultural, and technological criteria, i.e. factors, based on which the current position of the Roma was tested, and, the hypothetical ones, were projected on the quality of their life in the future. The general goal of this research is to improve the position of the Romani community in AP Vojvodina, observed from the point of view of the economic and social status that affects the quality of life (subjective and objective factors and others). The specific goal of the research presented in the paper is the valuation of subjective and objective factors and their direct influence on the quality of the lives of Roma. The research sample population is represented by members of the Romani community who live in the territory of AP Vojvodina.
THE INFLUENCE OF SMO IN UKRAINE ON GDP AND INFLATION IN THE EU WITH REFERENCE TO SERBIA
SMO in Ukraine and the imposed sanctions have their own dangerous economic side effects: a) they seriously affect the existing level of GDP, both in Europe and in the world; b) Inflationary pressure, which was already elevated after the end of the Covid pandemic, began to increase uncontrollably, with varying intensity. Serbia is also not spared from the negative effects of SMO on its economy. Purpose: The war conflict in Ukraine showed that it is not possible to limit the economic (and not only them) consequences, to a certain territory. All this indicates that the global economic connection is great, and that the negative effects of the crisis are reflected on the economic community as a whole. Methodology: In the paper, using the method of content analysis, data available from primary sources. For the research in Serbia, official data from the NBS website were used, when it comes to the movement of GDP, the growth of consumer prices, as a key indicator for measuring inflation, and the movement of nominal wages expressed in euros. For the purposes of the research, an appropriate statistical method, regression, was used.The results of the research indicate a trend of GDP reduction under the influence of SMO and sanctions, both in the world and in Serbia. Inflationary pressure is getting stronger, continuously in all presented data that are the subject of research. The nominal growth of wages in Serbia was shown to be a consequence of inflationary pressure.The limits that exist in relation to this research are the existence of different scenarios for ending this crisis, which implies different conclusions about the measures that should be taken to mitigate it, given that the situation changes on a daily basis. Suggestions for future research are given in the conclusion.
MARKETING POSITIONING AND BRANDING OF SERBIAN WINES
The purpose of the academic study is establishing a clear vision and objective in the process of Serbian wine branding in the demanding international market. Wines produced with as few oenological interventions or manipulations as possible, combined with a significant amount of faith and quality assurance certainly make a good foundation for success. The comparative method with the viticultural and winemaking situation in Croatia has been applied. The wines made from local and indigenous sorts have the greatest chance of the global market positioning. The indigenous sorts of wine, Tamjanika and Prokupac may be a significant brand in Serbian wine and gastronomic offer, as well as an ideal opportunity for a creative performance which must be accompanied with an elegant wine label and luxurious package. A very good quality of our indigenous sorts of grapes is often hidden by excessive barricading and attempts to create a spectacular sort of wine, which contributes to loss of authenticity. It is possible to overcome the former branding deficiencies in the demanding and quite saturated markets through joint and planned activity, by grouping all the countries in the Balkans region, which is a familiar term to the consumers in the global market.
ANALYSIS OF ECONOMIC PERFORMANCE OF TRADE COMPANIES IN SERBIA
The issue of analysis of economic performance in commercial enterprises in this paper is investigated from the angle of the impact of labor process factors (fixed, working capital and human capital) on profitability and efficiency, on the example of trade enterprises in Serbia. performance. The economic performance of trade companies in Serbia is significantly affected by fixed and working capital. The impact of human capital is moderate. In the future, in order to improve the economic performance of trade companies in Serbia, it is necessary to more efficiently manage human capital through training, salary, improvement of managerial position, compensation.
Ongoing Exogenous Crises and Economic Policy Countermeasures: Peculiar Case of Serbian Tourism
In this paper we argue that in spite of the grave economic, political and health consequences of the ongoing exogenous crises (COVID-19 cum economic downturn stemming from Russian-Ukranian conflict), before too long Serbian tourism exhibited something similar to the V-shaped recovery (and then some) by means of a) government subsidies, b) substituting domestic for (temporarily) absent foreign tourists and by c) soaring prices of tourist services at stable exchange rate which more than compensate the industry for the reflation comeback.