International Journal of Economics and Law
Volume 7 | No. 20
OWNERSHIP TRANSFORMATION OF INSURANCE SECTOR IN THE REGION OF CENTRAL AND EASTERN EUROPE FOR THE PERIOD OF CRISIS
Maja Dimic, Svetislav Paunovic, Ljiljana Stankovic
Restructuring process refers to numerous activities by which insurance sector changes the existing ownership structure and business strategies in order to maximize the profits and improve business efficiency. Since in insurance sector in Central and Eastern Europe there occur changes, due to turbulent business environment, insurance companies, in order to survive in the market resort to the startegy of adaptation. The aim of this paper is to present the process of ownership transformation in the region of Central and Eastern Europe for the period of economic crisis, as well as to point to the fact that the growing share of foreign ownership in insurance sector has affected the recomposition of market structure, as well as growth of its share in the achieved insurance premium in the region.
THE CONTRIBUTION FOR THE AUDIT OF THE NATIONAL SECURITY STRATEGY OF THE REPUBLIC OF SERBIA
By the reputation of the developed countries of the world, when the security sector was in question, the National Assembly of the Republic of Serbia in 2009 adopted the National Security Strategy of the Republic of Serbia. The strategy was adopted in conditions that characterized the closer and wider environment, but also the opportunities in the Republic of Serbia. In the changed conditions of the environment and situation in the country, the work on the revision of the National Security Strategy of the Republic of Serbia has begun. This paper is an attempt to attach from the theoretical point of view the process of revision of the basic strategic document in the domain of security in our country. In addition to the theoretical basis, the practical experience of the most developed countries in the world and the countries from our environment related to the determination of the security system was also used.
THE IMPACT OF REFUGEE CRISIS ON THE SECURITY OF WESTERN BALKAN COUNTRIES
Miodrag Gordic, Ivan Petrovic, Dragan Tancic
Refugee crisis which has reached global proportions in the previous years has also acquired a significant impact on the security of countries throughout the world.This impact, in addition to the countries affected by war in Asia, Near East and North Africa, is particularly expressed throughout Europe. On the margin of Europe, refugee crisis has a great impact to all security levels of countries that are located in the territory of the so-called Western Balkan. In the paper we have described the impact of refugee crisis to the security levels of Western Balkan countries through the application of DEMATEL method. As a case study we have taken the Republic of Serbia, as one of the countries in this region. In examining the impact of survey, we questioned ninety-two experts for different security levels from state institutions of the Republic of Serbia. We have examined the impacts to the following security levels: human security, societal security and national security.
STRATEGIC BUSINESS TRANSFORMATION: AN INDUSTRY 4.0 PERSPECTIVE
Dejan Ilic, Branko Markovic, Dragan Milosevic
The fourth industrial revolution (in which the industry and 4.0), initiated by the development of new information and communication technologies (ICT), is ongoing. All aspects of the change that will be brought by the industry 4.0 cannot be reliably observed, in addition, it is certain now that it will make significant changes in the way the company operates. By analysing the content of documents on technological trends and directions of the development of industry 4.0, we are forecasting their impact on company strategies in the new business environment. The paper aims to emphasize that a successful company strategy will be based on an innovative business model that is adapted to digital business industry 4.0.
STRATEGY OF SWISS BANKING SECTOR TOWARDS DIGITALIZATION TRENDS
Sead Jatic, Milena Ilic, Lidija Miletic, Aca Markovic
Many fields of management in contemporary banking organizations have flourished due to advancement in engineering and technology particularly, in the IT sector. Innovations which lead to digitalization assisted banks in improving business processes, ensuring competitive advantage, achieving better business results and, finally, gaining higher profits. The process of digitalization in banking requires a simple approach in order to make use of banking services by means of modern technologies easier, faster and cheaper. Digitalization in banking forced modern banks to reassess and change their traditional business methods that are for the most part based on the existence of “bricks-and-mortar” physical locations and to replace them with modern distribution channels, namely modern media, and the banking services based on them.
ANALYSIS OF PERSONNEL POTENTIAL FROM THE PERSPECTIVE OF RELATIONSHIP OF THE YOUNG TOWARDS STUDYING
Edita Kastratovic, Milan Dragic, Dragana Radosavljevic
In this study we present an attitude of the young towards studying, values in the society and development of personal career. The study had the goal to define the manner of analysing labour market, value categories and perspective from the angle of university students from Vojvodina. The results of this study point to the fact that the students are aware of the economic situation in Serbia, as well as the problems on labour market. Respondents have expressed the willingness for leaving abroad in order to provide for their existance. They are aware of the knowledge and skills they possess and, in equal percent, pros and cons of reorientation on a particular craft in order to initiate own business. Information of the young in the aspect of trends on labour market, as well as problems in the aspect of employment, significantly affects their choices and orientation on developed and systematically regulated countries. Results of the research confirm previous studies of the same problems and impose the need for finding certain long-term solution in order to keep the young people and establish a good balance on labour market.
INVESTMENTS IN TOURIST POTENTIAL OF SERBIA IN ORDER TO HAVE A BETTER MARKER RECOGNIZABILITY
Violeta Kocic, Milijanka Ratkovic, Ranko Marijanovic
The paper is aimed at giving recommendations towards greater investments of the country in the needs of development of all tourist destinations of Serbia. The paper is of theory-research type. In the first part of the paper, I have dealt with the need for funds investment, the aim of investments is not only the sustainability of continuous development, but also market recognizability of Serbian destinations, satisfaction of needs of foreign and domestic visitors. In the second part of the paper, I have presented all the potential of Serbia and all the advantages that it possesses by using research method. Based on data from the research on tourist resources I have determined that Serbia has an exceptional potential for investments that will contribute to its better recognizability of tourists.
EMOTIONAL INVESTMENT AT WORK
Nevena Krasulja, Milica Vasiljevic Blagojevic, Suzana Pajic
Nowadays an increasingly popular research topic has become emotions and their expressions in the workplace. Generally, emotions have very strong impact at employees’ ability to act, think and communicate effectively. Author Hochschild was the first who defined emotional labor as “the management of feeling to create a publicly observable facial and bodily display”. Quality of interactions between employees and clients is the essence of this concept. In this context client can be any person who interacts with an employee (customer, patient, guest, etc.). During that interaction employees must express appropriate emotions as a part of job description. There are many examples of such behavior – teachers or medical staff have to show empathy in front of students or patients. The main point is that employees have multiple tasks of managing not only their mental and physical effort, but also emotional capacity. In part of this paper, authors also presented emotional labor among university professors. They conclude that in Serbia research that measures emotional exhaustion still don`t exists. So the next step will be conducting of quantitative research that will ensure that the collected data can provide useful information.
THE ROLE OF CAPITAL IN CREATION OF WORLD MEDIA IMAGE
The focus of this document will be on the influence the spectacle-oriented content in media has on the program, and on the program orientation and program outline. The question arises as to how big is the the share of spectacularism in the electronic or printed media. The author’s intention is to perceive the scale of the presence of spectacularism in program orientation in media houses through market analysis of investments in marketing made by large corporations. The idea is to keep the record of the spectacle-oriented program and its long-term broadcasting frequency through ratings. Aware of the fact that the broad picture of media orientation towards the spectacle can be grasped comprehensively only through a complete insight into the presentation of all media (electronic and printed), the paper will concentrate around comparing results from a geographical and age structure of consumers of the media content. Research carried out by agencies irrefutably show the steep vertical growth of spectacle-oriented media content. Technicism in culture fabricates quasi cultural goods and transforms them into an effective instrument of power that dominates entertainment sector which replaced its basic postulates: meaningfulness and informativity. The aim of the document is to show that the wide spread of imported content from the West, such as reality shows, game shows without a point, and undifferentiated program outlines which all pander to poor taste of consumers, is inversely proportional to its absurdity by showing high ratings and thus dominates the media sky.
THE ADVANTAGES OF SOLVING COMMERCIAL DISPUTES BY ARBITRATION
Ljupka Petrevska, Marija Bulatovic, Ivana Petrevska, Miroslava Petrevska
Solving disputes which come from legal entities’ business activities demands, among other, rapid action, safety for the parties involved in the dispute, decision finality, dispute confidentiality, saving time and money. In case that the value of the incurred dispute is financially important for the parties, the more important it is that the dispute gets its final decision as soon as possible. Leaving such disputes to court authorities, regardless of indisputable benefits, cannot answer many specific legal entity needs who have found themselves in a dispute on some subject, and to whom saving time and gaining profit are the most important guidelines in business dealings. The following text shows comparative advantage of arbitration compared to classic judicial proceedings in disputes which occur among legal entities, then comparing certain arbitration types which are available to the parties in the dispute, whereby the objective weaknesses of certain arbitrations are not excluded. Arbitration, whether it is understood as an alternative form of handling disputes, or as a judicial mechanism for solving problematic situations, deserves quality analysis and application in practice in a degree which would be according to the results, as well as all objective advantages of this mechanism.
MILITARY TOURIST INSTITUTIONS WITHIN THE TOURIST OFFERS OF SERBIA
Mihajlo Ranisavljevic, Branko Tesanovic, Srdjan Nikezic
Above certain comparative and competitive advantages and resources of extremely good quality, the Military Tourist Institutions in the Republic of Serbia have not been completely incorporated in the tourist offers of Serbia. The Military Tourist Institutions have a significant capacity regarding both room and board services and non-accommodation services at their disposal what makes an important factor relevant to any adequate positioning in both domestic and foreign tourist market. This study presents the current stage as well as the capacity of these military institutions and it is made with the purpose to influence their development and the development of their current locations which could hopefully result in their better positioning on both Serbian and world tourist stage.