ZBORNIK RADOVA EKONOMSKOG FAKULTETA BRČKO

INSURANCE AS A FACTOR IN THE DEVELOPMENT OF TOURIST ACTIVITY

2023-12-27T14:19:17+01:00

Tourism and insurance have been interrelated since the origin of the term "tourism" throughout history to the present day. Without insurance, tourism as an activity would not be able to provide users with an adequate and safe service. Various types of insurance are of great importance for the development and progress of the tourism industry and tourism in general. Insurance contributes to the satisfaction of the interests of two entities: firstly, tourist agencies (to fulfill the legally prescribed conditions for obtaining a license), and secondly, users of tourist services (to provide assurance that their eventual claims are collectable within the legal framework). There are many risks in the insurance of tourism activities that must be properly analyzed, "covered," and minimized with appropriate insurance methods.

ANALYSIS OF TRADE PERFORMANCE IN SERBIA BASED ON INTEGRATED METHODS OF MULTI-CRITERIA DECISION-MAKING

2023-12-27T14:16:02+01:00

Research into the dynamics of trade performance positioning is a very challenging, continuously current, significant, and complex issue, especially in the conditions of integrated application of multi-criteria decision-making methods. Based on that, this paper investigates the dynamics of the performance positioning of trade in Serbia for the period 2013 - 2022 using different methods for determining the weighting coefficients of the criteria (AHP, LMAW, MEREC, DIBR), and the TOPSIS method. The goal of this, among other things, is to assess the impact of evaluation criteria on the dynamics of the performance positioning of trade in Serbia by using the TOPSIS method. In the specific case, therefore, the influence of the different evaluations of the criteria on the results of the ranking of the alternatives according to the TOPSIS method is negligible. In the trade of Serbia, the best results according to all used multi-criteria decision-making methods (AHP-TOPSIS, LMAW-TOPSIS, MEREC-TOPSIS, and DIBR-TOPSIS) were achieved in 2022, and the worst in 2014. They continuously improved from year to year in the observed period results of trade in Serbia. Effective management of key macro and micro factors contributed to this. Taken as a whole, the performance of Serbian trade continuously improved. The factors that influenced the improvement of the dynamics of the performance positioning of trade in Serbia are geopolitical situation, economy, inflation, interest rate, employment, the standard of living of the population, trade policy and strategy, foreign direct investments, new business models (multichannel sales - store and electronic, private label, sale of organic products, etc.), concept of sustainable development, energy crisis, management of human resources, asset, capital, sales and profit, digitization of the entire business, and others. The target dynamics of the performance positioning of trade in Serbia can be achieved by effective control of human resources, assets (investments), capital, sales, profits, labor productivity, and financial indebtedness.

COST MANAGEMENT IN SPORTS ORGANIZATIONS

2023-12-27T14:10:45+01:00

Taking into account the fact that the vision of the management of sports companies is dominantly focused on achieving the best possible sports results, it is important to emphasize that the primary goal must be accompanied by the achievement of an adequate level of liquidity in the business. The realization of this goal is closely related to and conditioned by the correct approach to cost management. In this regard, the goal of this paper is to emphasize the importance of cost management in sports organizations, all for the purpose of implementing timely and effective decision-making management. The previous practice of financial management took into account only financial accounting for the purposes of reporting to internal and external users. She did not deal with management accounting, which is a necessary basis for making strategic decisions. Taking into account the above, in the paper we will look at the importance of a new approach to the management of sports organizations, which is aimed at cost management in the function of the sustainability of the sports organization while monitoring the achievement of sports results. The research will be conducted by surveying sports organizations that exist in the area of the City of Bijeljina and Brčko District of Bosnia and Herzegovina. The methods that will be applied are analysis, synthesis, generalization, and statistical methods.

THE ANALYSIS OF LEVEL OF INSTITUTIONAL SUPPORT FOR INTERNATIONAL ENTREPRENEURIAL EXPANSION OF SMALL AND MEDIUM-SIZED ENTERPRISES FROM DEVELOPING COUNTRIES

2023-12-27T14:05:55+01:00

The initiating and development of international entrepreneurial expansion of small and medium-sized enterprises (SMEs) from developing countries (DCs) is under the influence of numerous internal and external challenges and limitations. Unlike developed countries, the institutional context of DCs determines specific business conditions, so the relevant literature indicates the necessity of incorporating institutional theory in international entrepreneurship research. Compared to previous research in which the estimation of institutional environment was performed on the basis of one dimension, in this paper, a composite indicator of benefits of country institutional profile for entrepreneurship (CIPE), which is relevant for export SMEs, is used. The aim of the paper is to point out the importance and the necessity of measuring entrepreneurs’ perception on the characteristics of institutional environment of a small and open economy, encompassing its regulatory, normative and cognitive dimension. The subject of the research is the attitude of entrepreneurs/managers of export SMEs from Bosnia and Herzegovina (BIH) about the level of institutional support for their international expansion. The results of the research indicate that the CIPE scale has high reliability and validity. Based on the data collected from 81 export SMEs from BIH, it has been determined that the institutional environment in BIH does not provide significant support for international entrepreneurial activities. The normative dimension of institutional environment has been rated the most favorably, while the regulatory dimension is considered to be the greatest obstacle to international entrepreneurship development. The paper, both theoretically and empirically, presents the complexity of institutional profile of DCs, states the recommendations for overcoming institutional barriers, the areas of institutional framework where measures of government policy are necessary, as well as recommendations for future research.

THE ASSESSMENT OF STUDY CONDITIONS AND THE QUALITY OF HIGHER EDUCATION IN BOSNIA AND HERZEGOVINA

2023-12-27T14:17:25+01:00

The paper analyzes the attitudes and opinions of the students of the Faculty of Economics Brčko and the Faculty of Business Economics Bijeljina about the conditions of study and the quality of higher education in Bosnia and Herzegovina. The paper is based on the results of a survey of the attitudes and opinions of the students of these two faculties on the topic: Staying in or leaving Bosnia and Herzegovina. Data were obtained on the assessment of living and study conditions and the quality of higher education in Bosnia and Herzegovina, on students' expectations and plans after graduation, as well as their thoughts on staying in or leaving Bosnia and Herzegovina. In this paper, the focus is on the assessment of study conditions, the areas in which students are most interested during their studies, factors that influence the choice of faculty, the quality of higher education in BiH, the expectations of students after graduating from the faculty, as well as their plans to get a job or to continue their studies. The overall results, similarities and differences in the attitudes and opinions of students from these two faculties were analyzed, as well as the mutual conditioning of the attitudes and opinions of students and the attending faculty, respondents’ gender or year of study. The conclusion is that there are no significant differences regarding the attitudes and opinions of the students according to the mentioned characteristics, as well as their mutual conditioning. The research results can be a good basis for future, broader and more comprehensive analyses, based on a large sample of students from universities in Bosnia and Herzegovina.

THE ROLE OF THE FACULTY IN THE DEVELOPMENT OF THE ENTREPRENEURIAL SPIRIT AMONG YOUTH IN THE REPUBLIC OF SRPSKA

2023-12-27T14:14:25+01:00

Entrepreneurship plays a very important role in the progress of society and the economy, and the study of entrepreneurship at universities is one of the important factors in the development of the economy of the Republic of Srpska. This paper attempts to explore the role of the faculty in the development of the entrepreneurial spirit of young people in the Republic of Srpska. The sample consists of students from the Faculty of Business Economics in Bijeljina. The research refers to the analysis of attitudes, experiences, and opinions of students when it comes to starting a business. The goal of the research is to examine the entrepreneurial potential of students and determine whether education in the field of entrepreneurship helps young people in the Republic of Srpska to start their businesses. For this research, a survey questionnaire was used as a data collection technique, then a review of current literature in the field of entrepreneurship was carried out, and other secondary sources were also used. The results of the research showed that faculties play an important role in the development of the entrepreneurial spirit among young people, which manifests itself in the form of starting business ventures.

LIQUIDITY IMPACT ON BANKS PROFITABILITY IN THE REPUBLIC OF SRPSKA

2023-12-27T14:09:04+01:00

Banks, as the primary goal have profit maximization, but because of its importance for the overall economic system there is a huge number of stakeholders from depositors to government who are vitally interested in how banks operate, i.e. maximize profits. Our aim is to establish and examine relationship between banks profitability and liquidity. We will look at 16 interdependencies between liquidity indicators: liquid assets by total assets, liquid assets towards short-term financial liabilities on the one hand and profitability indicators: returns on average assets, return on average capital, net interest income according to total income, non-interest expense according to the total income etc. We constructed solvency model for banks in the Republic of Srpska according to factors which are mostly correlated on state level. We used the data available for the banking system of Republika Srkska to form the model. The model captures 70% of linear relationship between predictor variables and response variable. We can conclude that significant variables are interest cost, capital to asset ratio, dividends, and membership to a group. However, our model caputre 70% of relationship and give us satisfactory level to conduct politics in order to increase bank profitability and creditworthines.

IMPACT OF DIGITALISATION IN WORKPLACES SHAPING THROUGH WORK HYBRIDIZATION CONCEPT

2023-12-27T14:03:13+01:00

The field of research related to organizational design is in itself inexhaustible, while research related to job design within professional organizations of the public sector in the context of the fourth technological revolution and digitalization is very scarce. The subject research is oriented to recognizing of key categories that projecting the design of current and future systems of work with hybrid character. All the mentioned contemporary phenomena are sublimated through the subject research related to the specific category of human resources in the tax and general inspection system of Bosnia and Herzegovina. The research was conducted in the period May-September 2023 by means of a digitized questionnaire, which is defined in terms of content in such a way that, through the used items, the attitudes of the executors in this segment of public administration are measured in relation to various parameters of work design and phenomena determined by the development of technology and digitalization. The sample includes 153 respondents, and the goal of the work is to recognize the intensity of hybridization and digitization of work in this segment of public administration in Bosnia and Herzegovina and to define contemporary guidelines for job design.