APPLICATION OF RESOURCE EFFICIENCY IN THE GREEN BUSINESS CONCEPT

Marko Aleksić, Radmila Bjekić, Nemanja Berber, Maja Strugar Jelača, Dimitrije Gašić

ABSTRACT

Efficient use of resources and waste treatment as a resource that returns to production (recycling) are prerequisites for the development of green economy and business that brings the economy closer to nature and its principles, and allows natural resources to regenerate. The circulation flow of material use provides a suitable basis for assessing the efficiency and effectiveness of using natural resources in economic systems. The Environmental Pollution Prevention Strategy is focused on use of materials, procedures that reduce generation of waste at the source of emissions. This includes efforts to reduce the use of hazardous substances, energy, and water. The aim of the research is to point to the experience and problems of packaging waste (in terms of the concept of "zero waste"). The methodology of paper includes analysis of theoretical achievements in the mentioned fields of research - resource efficiency, sustainable development, green business.

Link to presentation here: EMC 2023 - Aleksic, Bjekic, Berber, Strugar, Gasic



THE IMPACT OF MENTAL HEALTH AND PSYCHOSOCIAL RISKS ON A SAFE AND HEALTHY WORKPLACE

Srđan Bogetić, Zorana Antić

ABSTRACT

The authors of this paper have endeavoured to highlight the importance of mental health and psychosocial risks for a safe and healthy workplace. Due to the challenges that modern businesses are facing, employees are increasingly experiencing effects such as anxiety, depression, burnout syndrome, stress, etc. Business productivity decline, poor interpersonal relationships within the company, an unsafe and unfavourable work environment, etc. are all consequences of a company's inadequate response to mental health and psychosocial risk issues. The International Organization for Standardization has recognized the significance of this issue and has developed standards in the field of occupational safety and health (ISO 45001, ISO 45003), as well as other standards that take into account psychosocial risks in the workplace (ISO 9001, ISO 14001, ISO 22000, ISO 31000). The high-level structure (HLS) allows for an easier integration of the company's management system in practice.

Link to presentation here: EMC 2023 - Bogetic, Antic



SIX SIGMA AND TQM CONCEPT IN THE FUNCTION OF IMPROVING BUSINESS PERFORMANCE

Aleksandra Božović, Milena Cvjetković

ABSTRACT

Uncertain business conditions and the struggle for survival in the market force organizations to improve their business processes and build their competitive advantage on that basis. When it comes to the achieved degree of business improvement and competitiveness of companies, there is a difference between developed countries and developing countries. The process of globalization has enabled market conditions for the development of companies in developed countries. On the other hand, companies from developing countries, due to inadequate productivity, low quality, outdated equipment and technology and inadequate application of modern management methods and tools, face difficult challenges to fight for their place in the international market. The paper shows the role of the Six Sigma method and the TQM concept in improving the business performance of the company. Based on the application of the mentioned concepts companies create favorable frameworks for improving the quality and competitiveness of business, by improving their business.

Link to presentation here: EMC 2023 - Bozovic, Cvjetkovic



THE IMPORTANCE OF INFORMATION SYSTEMS FOR ACHIEVING THE QUALITY AND BUSINESS RESULTS OF THE COMPANY

Nataša Đalić, Živko Erceg, Irena Đalić

ABSTRACT

The need for sustainable development, the coronavirus pandemic and doing business within the framework of the fourth industrial revolution - Industry 4.0 create a challenging environment in which companies have difficulty achieving and maintaining competitiveness. Information becomes the basic construction when it comes to doing business in the modern, globalized business environment. Application of modern information and communication technologies (ICT) by companies is an important factor of sustainable development. This paper analyzes the importance of information systems on sustainable business and competitiveness, as well as the impact of quality management on sustainable business performance. The main goal is to determine the relationship between the mentioned dimensions in a transitional environment. 184 respondents (company managers) who exist in the territory of Republika Srpska participated in the research for the purposes of this work. The methods used in this research are linear regression and Cronbach's alpha test. The results show that information systems can influence business performance in a transitional economic environment.

Link to presentation here: EMC 2023 - Djalic, Erceg, Djalic



KEYBOARDS AS INPUT DEVICES: STANDARDIZATION AND FUTURE TRENDS

Goran Janaćković, Dejan Vasović, Bojan Vasović, Violeta Milićević, Zoran Jovanović

ABSTRACT

Although computer systems have been significantly improved in recent years, basic means of human-computer communication on desktop or portable devices has not changed a lot. The most common input devices are still keyboards. The existence of touch screens on smaller laptops and mobile devices made it possible to replace the physical keyboard with a virtual one, but the communication process itself remained almost unchanged. Numerous standards have been defined for the keyboard as an important input device, which describe its desirable characteristics from the point of view of functionality and ergonomics. Often, these characteristics can have a significant impact on the way of use, and directly or indirectly on the user’s health. The adaptability of the keyboard and the properties of the switches can greatly improve the user experience, eliminate non-physiological positions of users and decrease load on the joints of fingers and hands. This paper presents representative ISO standards that refer to keyboards as input devices and their most important characteristics.

Link to presentation here: EMC 2023 - Janackovic, Vasovic, Vasovic et al.



INTERDEPENDENCE BETWEEN BUDGET DEFICIT AND PUBLIC DEBT: THE CASE OF BRICS COUNTRIES

Branimir Kalaš, Vera Mirović, Nada Milenković, Milica Inđić

ABSTRACT

Fiscal stability and sustainability are two essential issues for every government in the world. A sound and healthy public finance management enable positive implications for economic growth and development. The subject of this research is to determine a potential relationship between budget deficit and public debt in BRICS countries (Brazil, Russia, India, China, and South Africa) for the period 2010-2022. The obtained findings of MANOVA confirmed that there is a significant difference in the budget deficit and public debt level of BRICS countries. The results of correlation analysis confirmed that budget deficit and public debt are positively related at the BRICS group level. It implies that higher budget deficits raise the public debt of this group and it is necessary to provide better economic coordination to avoid harmful implications for their economies.

Link to presentation here: EMC 2023 - Kalas, Mirovic, Milenkovic, Indjic



SME BANK LOANS VS. VC FUNDS ACTIVITY IN SERBIA

Nada Milenković, Branimir Kalaš, Jelena Andrašić, Miloš Đaković

ABSTRACT

SMEs have the opportunity to access finance sources throw VC fund, as an alternative source of financing. Although in 2021 the law on alternative investment funds has begun to be implemented, there is no significant investment activity of the founded funds. Furthermore, it seems that banking loans are the main source of SME financing in Serbia, besides the funding’s gained throw non-refundable state funds mainly for high innovative SMEs in the technology sector. The aim of this paper is to analyze the structure of the loans of Serbian banks and to extract the data about the SME financing. Comparing this data with the invested amounts of the foreign VC funds we can conclude whether there is an increase in alternative financing or the bank loans remain the main financing source of the SMEs in Serbia.

Link to presentation here: EMC 2023 - Milenkovic, Kalas, Andrasic, Djakovic



INTENTIONS TO USE BICYCLES AND ENVIRONMENTAL CONCERNS

Nikola Milicevic, Nenad Djokić, Ines Djokić

ABSTRACT

One of the problems that affect most countries in the world relates to air pollution. This issue is particularly pronounced in densely populated urban areas. Transport is most often mentioned as a significant cause of air pollution in cities. Through the emission of gases that contain harmful elements such as nitrogen oxides and particulate matter, motor vehicles endanger not only people’s health but also cause global warming. In order to decrease these negative effects, attention should be paid to the greater use of bicycles as a greener mode of transportation. Hence, in this paper, the focus was on the analysis of the intention to use bicycles. For this purpose, a number of studies related to this topic were presented. By identifying and examining factors that influence the intention to use bicycles, deeper insight into customer behavior can be obtained. This can be used as a basis for taking certain actions that may encourage people to shift to cycling

Link to presentation here: EMC 2023 - Nikola Milicevic, Nenad Djokić, Ines Djokić



STRATEGY OF BRAND DEVELOPMENT AND MARKETING POSSIBILITIES OF APPEARANCE ON THE FOREIGN MARKET ON THE EXAMPLE OF THE COMPANY "JAFFA" CRVENKA

Vladimir Milošev, Dubravko Marić

ABSTRACT

The company "Jaffa" from Crvenka has been operating for many years and thanks to its innovative and high-quality products, they have built a tradition and a recognizable name all over the world. In recent years, the company has made an expansion both in the part of the production line and in the part of profit and market share that this company achieved on the world market. Presentation of the development strategy of the "Jaffa" brand and international marketing on the example of the candy factory "Jaffa" from Crvenka with a proposal for the improvement of marketing processes indicates the complexity and importance of international marketing in the company, and in order to increase productivity and determine the position of the brand, a description of the importance of international marketing for success of the brand on the market, defining the basic elements of the marketing mix in order to present a marketing strategy that can be applied by a wide range of companies in different fields of activity. The company monitors when consumers buy, whether the price of their products is acceptable for them, how they react to new tastes or products in their assortment, whether they are satisfied with the packaging of the products, and the like. The coordinates of the direction vector show that the company "Jaffa" is characterized by an aggressive strategic position. Its advantages can be attributed to the following factors: product innovation, growing market share, professional management team, high vertical integration, the creation of recognizable products for the general public and a strong financial position.

Link to presentation here: EMC 2023 - Milosev, Maric



CYBER INSURANCE MARKET: STATE AND FUTURE DEVELOPMENT DIRECTIONS

Miloš Pjanić, Mirela Mitrašević, Stevan Luković

ABSTRACT

Business entities as well as natural persons are largely aware of the dangers they may face and the necessity of managing the numerous risks they are exposed to in their business. Cyber insurance is one of the most important options available to them. Cyber insurance aims to establish the security and protection of business entities and natural persons from the various dangers they face and protection from these dangers, as well as the ability to recover as soon as possible if these dangers occur. The cyber insurance market has developed to provide financial protection for digital security and privacy risks that have arisen as a result of increased reliance on digital technologies. Cyber insurance has evolved with the emergence of new risks and the application of exclusions in traditional property, liability and some specialty policies. Early on, the focus of the cyber insurance market was on providing errors and omissions coverage for technology-based service companies. The aim of the work is the analysis of the cyber insurance market, from the aspect of the current situation, as well as the future directions of the development of cyber insurance. The first part of the paper analyzes the size of the global cyber insurance market, and the second part of the paper analyzes the adoption of cyber insurance by country, as well as potential risks within cyber insurance. The third part of the paper indicates the state of cyber insurance in the Republic of Serbia.

Link to presentation here: EMC 2023 - Pjanić, Mitrašević i Luković



SELECTION OF WATER PRESSURE BOOSTER PLANTS IN THE FIRE HYDRANT NETWORK FOR A WAREHOUSE FACILITY

Slavica Prvulovic, Ivica Micic, Jasna Tolmac, Milos Josimovic, Slobodan Juric, Milica Josimovic

ABSTRACT

The paper presents an analysis of the required amount of water for fire extinguishing and the required water pressure in the fire hydrant network for the warehouse facility, and based on this, the most optimal plant for the water pressure booster in the hydrant network that can meet the obtained requirements was selected. In practice, it often happens that there are resources with a sufficient amount of water, but it cannot be used for effective fire extinguishing, since the water pressure in the fire extinguishing installations is not within the prescribed values, i.e. is lower than the minimum required. In order to ensure reliable operation and proper functioning of fire extinguishing systems and installations, whether it is systems with compact jet, sprayed water or water mist, it is necessary to use adequate fire fighting facilities. This paper can be used as an example when choosing a plant for increasing the pressure and flow of water in the hydrant network and for other facilities that require the installation of a hydrant network.

Link to presentation here: EMC 2023 - Prvulovic, Micic, Tolmac, Josimovic, Juric, Josimovic



THE IMPACT OF E-BUSINESS ON THE MOTIVATION AND PROFESSIONAL CHALLENGES OF EMPLOYESS

Dragana Sajfert, Srđan Barzut, Ana-Marija Vukić, Milica Jevremović

ABSTRACT

The goal of this research is to understand gender differences in motivational drivers at the workplace, with a focus on people with work experience in the field of e-commerce and e-business. Special attention is paid to the preference for competitive and cooperative behavior. We examined gender differences in motivational drivers on a sample of N = 80 (40% women). The age range was from 25 to 35 years 30%, 35-45 years 40%, 45-55 years 15% and 55-65 years there were 10%. The results showed that men were ranked higher in motivation towards professional challenges, preference for a competitive environment. Women had a higher result in motivation with social support and the quality of the work environment. The results have interesting implications for human resource management and the professional challenges of employees.

Link to presentation here: EMC 2023 - Sajfert, Barzut, Vukic, Jevremovic



THE INFLUENCE OF INFORMATION TECHNOLOGIES ON ORGANIZATIONAL COMMITMENT IN THE ENVIRONMENT

Dragana Sajfert, Jesa Kreiner, Srđan Barzut, Svetlana Anđelić, Ana-Marija Vukić

ABSTRACT

The aim of the study was to investigate the impact of information technology on organizational commitment (as measured by the Organizational Commitment Scale). The survey was conducted on a sample of 90 employees in three information technology companies in Serbia. Information technologies have shown a strong positive impact on organizational commitment in the environment. This research confirmed the influence of information technologies on improving the performance of employees in companies on organizational commitment.

Link to presentation here: EMC 2023 - Sajfert, Kreiner, Barzut, Andelic, Vukic



THE EFFECT OF ELECTRONIC BUSINESS ON USER SATISFACTION

Dragana Sajfert, Jesa Kreiner, Srđan Barzut, Ana-Marija Vukić, Milica Jevremović

ABSTRACT

The impact of e-commerce on customer job satisfaction are very important concepts that organizations must understand in order to remain competitive and thus grow. It is a big task for organizations to know how to measure these constructs in order to better understand their employees and customers. The purpose of this research is to determine the impact of electronic business on customer job satisfaction. The emergence and development of electronic business is very close to the job satisfaction of employees and significantly affects the results of the success of the service industry. This paper investigates the impact of electronic business on the job satisfaction of employees and how much it affects their effectiveness. World literature from many countries has come up with results that investigated the importance of e-business and job satisfaction. The study is devoted to the interpretation of electronic business mechanisms, which are the essence and job satisfaction of employees in service industries. Participants were recruited from the Autonomous Province of Vojvodina and the City of Belgrade.

Link to presentation here: EMC 2023 - Sajfert, Kreiner, Bazut, Vukic, Jevremovic



THE INFLUENCE OF INSTAGRAM ON PURCHASE DECISION GEN Z

Bruno Završnik

ABSTRACT

Social media marketing proved to be advantageous for any kind of industry. If we consider the huge number of users of social networks and all the advantages they have, as well as their popularity, the fact arises that these networks provide significant business opportunities. Therefore, social media is a great tool for communicating, informing, educating, and connecting with buyers. Social media platforms, such as Instagram, Facebook, YouTube, and Pinterest, are the most popular places for posting and advertising different content. The main aim of our research was to find out how social media such as Instagram influence the purchasing decisions on Generation Z and do they use it as a research tool before buying. We proved that a social media platform, Instagram, has a significant impact on Generation Z purchase decisions.

Link to presentation here: EMC 2023 - Zavrsnik