International Journal of Economics and Law
Na osnovu člana 14, Pravilnika o kategorizaciji i rangiranju naučnih časopisa International Journal of Economics and Law je u kategoriji M23
Volume 11 | No. 32
STORYTELING AS AN ELEMENT OF KNOWLEDGE MANAGEMENT IN CULTURAL HERITAGE
Cultural heritage exist in a complex system of interactions and continuous transformations that suggest thinking about intellectual capital as a dynamic entity that develops from a potential state to a living, operational one. The strength of a cultural institution is largely determined by how well it functions as a system for finding and disseminating information. Cultural enterprises are also characterized by the fact that most people who use what they offer can do so for the sake of personal enrichment, which means that, regardless of the practical application of what is learned, participation in learning activities is the biggest motivating factor for inclusion. It follows that institutions must detach themselves from designing passive interpretive activities of the audience and move towards creating programs that are participatory and collaborative. Therefore, the aim of this paper is to point out the importance of storytelling as one of the most important techniques for active knowledge management in culture.
EU CLIMATE CHANGE POLICIES AND CIVIL SOCIETY LOBBYING
The paper analyses EU energy and environment governance from the approach of actor-centered institutionalism. It aims to dissect the specific type of actor within the institutional frameworks of EU, namely the civil society and its increasing influence. The behaviour and various forms of impact, lobbying and negotiation are studied, within a framework of theory of social dynamics. As the dominant structural feature of the European Union are the multi-level governance networks rather than hierarchical political authority, such networks encompass member state representatives, networks linking the national and the European levels of decision-making, and networks linking public, private and civil society actors across policy sectors and political levels. Alike in other policy areas in the multilevel system of the EU, an assortment of actors drafts the environment and energy policy, and they come from the institutional and non-institutional ranks. Despite the academic discussion of the legitimacy of civil society’s role as a contributor in international political arenas or the real effect it has in influencing governments, we present the rising official and unofficial influence of the third sector in the climate change arena.
LEGAL REGULATION OF THE E-COMMERCE AREA IN THE REPUBLIC OF SERBIA AND CONTRIBUTION TO ITS DEVELOPMENT
The existing digital revolution has also led to a very intensive development of electronic commerce, not only in developed markets, but also in the market of the Republic of Serbia. In a short period of time, the expectations and behaviors of consumers in the buying process have changed, but also the thinking and actions of retailers themselves have been redefined and redirected. Regardless of all the advantages that e-commerce brings with it, as possible obstacles to its further development, open questions arise regarding consumer confidence. A developed and modern legal framework that comprehensively regulates this area, as well as its full implementation in practice are the best basis for overcoming these obstacles. In recent years, the Republic of Serbia has done a lot to improve the legal framework governing e-commerce, primarily through innovations in the Law on Trade, the Law on Electronic Commerce and the Law on Consumer Protection. The results of this are already clearly visible in practice.
THE EXIT STRATEGY IN THE BATTLE AGAINST THE CORONA VIRUS EPIDEMIC IN THE REPUBLIC OF SERBIA
Uncertainty is widespread during any outbreak of infectious diseases. The corona virus appeared in China at the beginning of 2020 and very quickly spread to all countries in the world in a pandemic scale. Most countries have declared
an epidemic of a contagious disease and are trying to counter the plague in the best way they can. While policymakers have tried to balance the health and economy effects of a pandemic, decentralized decision-making, deep uncertainty, and a lack of widespread use of comprehensive decision support methods can lead to the choice of a fragile or ineffective strategy. This paper is an attempt to describe in the most general terms the current aspects of the fight against the corona virus epidemic in the Republic of Serbia. First of all, it refers to the political, economic, health-security and social aspects. The general conclusion is that the Republic of Serbia manages to mitigate the effects of corona virus from all the above aspects. It is doing that effectively and efficiently, better than many countries in the world, including much more developed countries than Serbia itself.
APPLICATION OF THE CRM CONCEPT TO IMPROVE SUSTAINABLE COMPETITIVE ADVANTAGE THROUGH ACHIEVING LONG-TERM CONSUMER LOYALTY
Background and purpose: One of the most important concepts that put the improvement of total customer satisfaction at the center of business is the “Customer (Client) Relationship Management”, i.e., CRM concept. Broadly speaking, the
CRM concept is a systematic effort of organizations aimed at achieving sustainable competitive advantage through the implementation of the most profitable way to create and deliver added value to consumers, organizations, and shareholders. The CRM concept is a modern way of identifying, attracting, and retaining profitable consumers through the development of a ’’good’’ or long-term partner and close interactive relationship. Consequently, the main goal of this paper is to determine as closely as possible the basics and modern approach of the CRM concept, to present the results obtained during the conducted research on the opinions of the respondents on the influence of basic factors on the improvement of consumer relations and socio-demographic variables. Methodology: The conducted research is of quantitative type and was realized through a questionnaire within which in the first part the questions referred to socio-demographic data about the respondent, while in the second part a group of dependent variables was operationalized through statements, which were evaluated by the Likert scale. The mentioned statements examined the opinion of the respondents on the improvement of relations with consumers. For data analysis, the following were applied: descriptive analysis (percentages, arithmetic mean), Chi-square test, t-test, one-factor analysis of variance, multiple linear regression, and Pearson’s correlation coefficient. The level of statistical significance was set at p <0.05, and all obtained data were processed in the SPSS program, version 23. The research aimed to reveal the opinion of respondents on the influence of basic factors on improving consumer relations. Conclusion: The first three auxiliary hypotheses have been proven, the fourth and the fifth has not, but it is concluded that customer relationship management affects customer satisfaction and loyalty, thus proving the null hypothesis.
SOCIAL NETWORKS CONNECTION AND THE CRIMINAL OFFENSE OF MURDER
Social networks quickly became an extremely important means of social interaction of different users, which in many ways influenced them to become the focus of research of different disciplines in the social sciences. It is evident that social networks have brought many benefits to communities around the world, but with positive impacts come negative ones as well. Related to this is the lack of criminological research on their role in the domain of crime, criminalization, victimization and crime prevention. The author of this paper starts from the basic assumption that a wide range of technological innovations in modern times provides numerous new possibilities that could help in investigations into murders, as well as increased interaction between police services and citizens. This is also the reason for the growing interest of police services in social networks not only to collect but also to share information and connect the police and the community. On the other hand, social networks can be a reason for committing the crime of murder. However, it is evident that scientific and professional research does not fully cover the role and importance of social networks in committing murder.
EMOTIONAL INTELLIGENCE OF LEADERS: The paradigm of building success
Emotional intelligence (EI) is, today, a paradigm for recognizing and regulating leaders’ emotions, and is a core component of successful leadership. The ability to focus one’s emotions on the closest associates and employees, in the right way and at the right time, is eo ipso feeling for the moment when the organization needs immediate changes and for shaping all aspects of business with the demands of a turbulent environment. If a leader has a lack of emotions or uses them in an incorrect way, ie does not make the right strategic decision and gives wrong information about it to associates and employees, devastation and dissolution of organizational success and economic parameters can occur. The leader and his closest associates (co-leaders) must have a high degree of EI in order to properly understand their employees and their emotions, and to be able to choose a leadership method adapted to given situations, and also useful for members of the wider community.
ETHNO-NATIONAL HOMOGENIZATION IN THE POST-YUGOSLAV AREA
The newly formed nation-states in the former Yugoslavia are an example of ethno-nationalized societies that emerged during the 1990s, as the final phase of the disintegration of SFR Yugoslavia. Ethno-national homogenization of societies was realized under the direction of dominant (ethno) nations, which considered the newly formed society as ‘property’. Ethnonationalization proved to be a crucial factor in creating ethnic antagonisms and disintegrating Yugoslav society. In this paper, the author presents the basic socio-historical assumptions of the emergence and disappearance (dying, extinction, breakdown / disintegration) of the Yugoslav state. Using a modern sociological conceptual and categorical apparatus in the field of political sociology and sociological studies of nationalism, the author presents the processes of ethno-nationalization, ethnic antagonisms and disintegration of a social order, as well as the basic characteristics and structure of ethno-nationalized society. The paper gives indications of possible ‘(de)ethno-nationalization’ and a brief overview of the relationship between cultural and civic nationalism.
REVERSE AND GREEN LOGISTICS: WAYS ZA IMPROVE ENVIRONMENTAL PROTECTION
Green logistics policies represent a strategic advantage over the competition. While adding value to companies and separating them from competitors, they represent a good basis for the company’s future business, which must inevitably be sustainable. As a new concept in logistics, reverse logistics has become increasingly important when it comes to a sustainable strategy. The strategic factors that make companies increasingly choose reverse logistics are related to costs, overall quality, customer service, environmental concerns, and the law. The main goal of this paper is to present the logistics activities’ impact on the environment and to point out the importance of green supply chain strategies and reverse logistics activities.
THE ROLE OF DIGITALIZATION IN THE FINANCIAL SECTOR, WITH REFERENCE TO THE BANKING SECTOR
Digitization in technology is changing the way the financial sector works. Advanced applications developed in digital technologies used in financial services are used to change the interface between consumers and service providers in
financial transactions, while improving communication and increasing their mediation. Digitalization forces organizations to continuously evaluate and innovate their business models. Digital innovations in particular are leading to fundamental changes in the financial services industry. Agile and innovative financial technology startups are known to drive these changes, as they address new customer requirements by developing innovative technologybased solutions with user-centered approaches. In recent years, the banking and financial sector has undergone radical changes in order to improve services, the constant development of digitalization, through new business models, in the concept of developing the field of Internet copper through monetary transactions between consumers and the copper sector. These new models of digitalization in the financial sector require employees to adapt to a fast working environment and change the overall state of change in the financial sector. Today, digital currencies are increasingly used “Cryptocurrencies” as a means of exchange. In most countries, they are not strictly regulated by law, and in some countries they are even prohibited. Banks are not obliged to store data on cryptocurrency transactions, every bitcoin transaction, they are stored by computers of all users in a common database called blockchain. These transactions are processed much faster than the banking sector. no commissions, and easier payment between states. Bitcoin provides its users with security when paying, without authentication, although the blockchain shows transactions, it does not show who is behind that transaction. Managing change through digitalization is currently one of the main turmoil in the financial market, which can forever affect the banking business, and mismanagement can have disastrous results. The banking and financial sectors are expected to grow faster than ever in the coming decades, and therefore changes in the digital sector are at a turning point in terms of changing the positions needed to gain a market advantage over the competition. Banks in Serbia have included e-banking services in their offer in order to provide services tailored to the specific needs of clients, improve the quality of these services, retain existing and attract new clients and finally reduce business costs by streamlining business processes. In this way, banks try to follow trends by digitalizing their business and offer innovative and safe solutions to meet the expectations and needs of their clients as much as possible.
ARBITRABILITY OF THE DISPUTE AS A PRECONDITION FOR THE SUCCESS OF THE ARBITRATION
Arbitration as an alternative way of resolving disputes is becoming more and more affirmative because the boundaries of the primary are necessarily expanding due to the need for increasingly intensive integrated processes. Not all disputes are similar to arbitration, but only disputes that have the property of arbitrability. Arbitrability is determined in a subjective and objective sense and is a necessary condition for the validity of the arbitration agreement. There is no universal definition of arbitrability, it is defined differently in different countries but also in one country variable over time. The arbitration procedure is limited to a small part of civil disputes, whereby the arbitration changes the litigation procedure in disputes of arbitrable admissibility, while in other civil matters the court bodies retain for themselves exclusive jurisdiction. Each state establishes its own legal rules that determine the limits of admissibility of the arbitral way of resolving disputes, protecting its own interests, which may differ in different countries, most often expressed in the definitions of abitability. The authors analyze the limits of arbitrability as a prerequisite for the success of arbitration, pointing to certain limiting factors in correlation with individual institutions (autonomy of will, public order, conflicting norms).
CRIMINAL THREAT OF OCCURRENCE OF LOW-QUALITY AND COUNTERFEIT MEDICAL PRODUCTS
The world is changing fast. Advances in technology, radical changes in communication and access to information, cheap transportation and the growth of global transnational corporations are influencing the shaping of the relief of our daily lives. The quality of medicines and medical products is one of the many areas that are exposed to the pressure of the stated determinants of world socio-economic trends. Poor quality and counterfeit medical products, such as vaccines and drugs, pose a serious and growing global health challenge. Other medical devices, such as diagnostic kits and means of preventing infection, including, but not limited to, masks and hand sanitizers, are also on the market in low-quality and counterfeit versions. In this paper, the author considers all these medical devices as possible low – quality and falsified health products. Following the existing normative framework at the national and international level, the author presents various aspects of the criminal threat caused by the presence of low-quality and falsified medical devices. By considering the strategy of combating the gravitational problem, the author finalizes his view of the importance of low-quality and counterfeit medical products for the vital values of today’s society.
ECONOMIC AND POLITICAL IMPLICATIONS OF THE RETROGRESSION AND REVITALIZATION OF SPA TOURISM IN NIŠKA BANJA
Zoran R. Pešić
The author begins with the fact that the retrogression of spa tourism in Serbia compared to the developed countries had in the past its economic, political, and legal obstacles and that this was also reflected in Niška Banja. Therefore, an analytical approach to the causes, consequences, and possible directions of development of this once prosperous spa is needed. In the paper, Niška Banja is compared with other spas and the possibilities of her revitalization are analyzed. It was concluded that the basic problem of Niška Banja, and after all, most spas in Serbia are poor existing capacities and lack of modern accommodation capacities, lagging behind world tourist trends and lack of financial resources for development. Examples of some spas in Serbia and the world indicate possible solutions for Niška Banja as well. We see solutions in changing the awareness of the importance of spa tourism, in building new capacities, modernizing tourist products, and in financial incentives through privatization and public-private partnership. Tourism is a development opportunity for Niška Banja, but success requires the synergy of the state, local government, experts, and citizens.
THE IMPLEMENTATION OF REGRESSION CROSS-SECTORAL ANALYSIS IN PORTFOLIO MANAGEMENT
The most important role of the financial system of a national economy is to ensure the smooth flow of funds between the groups of entities that operate within each national economy. These are, on the one hand, entities that have surplus
financial resources and entities that lack those resources. In the last few decades, in all developed economic systems, the management of investment activities is mostly realized through portfolio management. The modern theory of portfolio management, unlike the traditional one which selected securities that best suit the profiles and wishes of investors, emphasizes the assessment of risk and return as well as the investor’s inclination towards risk. The development of information and telecommunication technology has greatly facilitated the management of the securities portfolio by increasing the amount of available information needed for quality decision-making and in order to, to some extent, reduce the level of investment risk. Regression cross-sectoral analysis, based on an extensive and complex statistical database and elaborate analytical tools and instruments, can greatly help investment decision makers, primarily portfolio managers, and point them in a timely manner, with a certain degree of probability, to possible directions for their future investment activities. Taking into account the scarce literature in the field of regression cross-sectoral analysis in portfolio management, it can be concluded that the holders of investment activities in making investment decisions rely more on their experience, intuition and theoretical knowledge and less on quantitative indicators and results of modern regression cross-sectoral analysis as well as on probability theories. The use of the results of regression cross-sectoral analysis in portfolio management should be a priority in future activities of those responsible for implementing an efficient and consistent investment policy, which ultimately necessarily reflects an increase in national wealth and brings higher economic growth.
UNILATERAL TERMINATION OF A PUBLIC CONTRACT
Public contract is a special type of administrative contract to which the rules of the law of obligations apply accordingly or in a subsidiary manner. This contract represents the basis of all public procurements, public private partnerships, and, in certain form, concessions. Due to its specific legal nature, which is a consequence of the application of norms of both public and private law to this type of contract, it is called „hybrid“ or sui generis contract. The combination of the application of the norms of public and private law is seen, also, in the example of regulating the termination of a public contract. In the European Union law, the unilateral termination of a public contract is mostly regulated in the public law, while unilateral termination of a public contract in the Serbian law is usually done in accordance with the rules of the private law (law of obligations). However, due to the harmonisation of the Serbian law with that of the European Union, public law elements have been introduced into the contractual relationship between the public and private partners, which is reflected, also, in the issue of termination of public contract. The aim of this paper is to stress the ambiguities that may arise on the occasion of a unilateral termination of a public contract in cases when there are no detailed provisions in the public contract itself on unilateral termination, as well as to contribute to eliminating legal uncertainty in this area through interpretation of the positive law.