Faculty of Economics, Kragujevac
Permanent URI for this collectionhttps://dspace.unic.kg.ac.rs/handle/123456789/8208
Faculty of Economics in Kragujevac was established in 1960 as a department of the Faculty of Economics, University of Belgrade. On December 16th 1975, after fifteen years of intensive development, the Faculty grew into an independent institution. Since May 21st 1975 the Faculty of Economics has been, along with eleven other faculties, a constituent part of the University of Kragujevac.
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The Faculty has facilities with modern equipment, such as three computer rooms for Bachelor studies, a computer room for Master and PhD students, a classroom of the Center for Lifelong Learning, a video-conferencing room, the academic network and the Internet café, as well as the student restaurant.
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Item A critical systems metamethodology for problem situation structuring(2012) Petrovic, SlavicaThe increasing complexity and diversity of management problem situations in organizations, as well as the increasing variety of theories, methodologies, methods, techniques, and models that can be employed in problem situation structuring and solving, must be considered as relevant aspects of management process in contemporary circumstances. Creative holism in management problem situations in organizations is enabled by means of Critical Systems Thinking (CST) as well as Critical Systems Practice (CSP), as the resulting metamethodology. In other words, through CST and CSP, it can be significantly contributed to the management of the increasing diversity and variety of methodologies, methods, techniques, and models, with the aim of improving the management of problem situations in organizations. Copyright © 2012, IGI Global.Item A cyber-systemic learning action approach towards selected students’ competencies development(2019) Strukelj T.; Zlatanović, Dejana; Nikolić, Jelena; Sternad Zabukovšek S.© 2019, Emerald Publishing Limited. Purpose: The purpose of this paper is to prove that it is possible and necessary that higher education institutions develop appropriate competencies of students during the learning process as required by the practice if teachers use the systemic approach and cybernetics knowledge. The authors especially research the importance of competence entrepreneurship and how to stimulate entrepreneurship by developing competencies of creativity, teamwork and communication. Design/methodology/approach: Based on systems theory, transversal competencies entrepreneurship, creativity, teamwork and communication, as well as their interdependence, were requisitely holistic selected. In the selection of diverse contemporary learning methods, the authors started from an action research approach that implies learning by doing, i.e. participation of students. With the use of statistical methods, the authors showed that a cyber-systemic requisite holistic learning action approach based on interdependence of teacher and students learning process results in innovation of researched transversal competencies. Findings: Based on two quantitative and qualitative researches of 96 students’ competencies, the authors found out that when using contemporary learning methods, the desired results can be achieved. In described learning process everyone involved gained: both the teacher and the students. Research limitations/implications: The survey does not include verifying the usefulness of developed competencies in practice. Also, the study only covers the findings of the research study of one academic year. Practical implications: The research is important for the practice of higher education, as it demonstrates that the teacher is with a targeted focus on the selected viewpoints able to effectively improve students’ competencies. Social implications: If higher education’s institutions take a strategic decision to target improvement of the transversal competencies of students, they will be easier and faster to employ, and practice will get more relevant employees. The economy will be more efficient and effective. Originality/value: According to the authors’ knowledge, no research measures the development of selected transversal competencies using the contemporary learning methods, based on cyber-systemic learning action approach. The authors found out that the methods used have influenced the final results, which show that all measured students’ transversal competencies have improved.Item A fuzzy bi-linear management model in reverse logistic chains(2016) Tadić, Danijela; Mimović, Predrag; Kostic J.; Zahar Djordjevic, MarijaThe management of the electrical and electronic waste (WEEE) problem in the uncertain environment has a critical effect on the economy and environmental protection of each region. The considered problem can be stated as a fuzzy non-convex optimization problem with linear objective function and a set of linear and non-linear constraints. The original problem is reformulated by using linear relaxation into a fuzzy linear programming problem. The fuzzy rating of collecting point capacities and fix costs of recycling centers are modeled by triangular fuzzy numbers. The optimal solution of the reformulation model is found by using optimality concept. The proposed model is verified through an illustrative example with real-life data. The obtained results represent an input for future research which should include a good benchmark base for tested reverse logistic chains and their continuous improvement.Item A holistic approach to corporate social responsibility as a prerequisite for sustainable development: Empirical evidence(2015) Zlatanović, DejanaThe growing importance of sustainable development and corporate social responsibility (CSR) for contemporary organizations demands appropriate holistic tools. The paper highlights how Soft Systems Methodology (SSM), a relevant holistic, i.e., soft systems approach, supports the conceptualization and management of the complex issues of CSR and sustainable development. The SSM's key methodological tools are used: rich picture, root definitions, and conceptual models. Empirical research compares a selected sample of enterprises in the automotive industry in the Republic of Serbia, to identify possible systemically desirable and culturally feasible changes to improve their CSR behaviour through promoting their sustainable development. Some limitations of this research and of SSM application are discussed. Combining SSM with some other systems approaches, such as System Dynamics or Critical Systems Heuristics, is recommended for future research.Item A mixed analysis of perceptions of electric and hybrid vehicles(2020) Higueras-Castillo E.; Kalinić, Zoran; Marinković, Veljko; LIEBANA-CABANILLAS, FRANCISCO© 2019 Elsevier Ltd Electric and hybrid vehicles are a prominent technology in the transport industry for mitigating air pollution. This study aims to find the key factors which mediate product adoption by assessing the main barriers to purchasing, the impact of government financial incentives and other variables such as pro-environmental behavior and social reputation. Data were collected from 404 potential consumers and analyzed through two methods. Firstly, this study approaches a structural equations model. Secondly, neural networks are examined. The obtained results reveal reliability and government financial aids as the most significant motivators. In addition, the three major variables negatively impacting perceived reliability are limited range, charging time and low infrastructure availability.Item A model for evaluation of customer satisfaction with banking service quality in an uncertain environment(2018) Tadić, Danijela; Aleksic, Aleksandar; Mimović, Predrag; Puskaric H.; Misita, Mirjana© 2016, © 2016 Informa UK Limited, trading as Taylor & Francis Group. The aim of this study was to propose a fuzzy decision-making model to evaluate customer satisfaction level which has a critical effect on the bank’s competitive advantage and its business. Value of customer satisfaction level can be determined by respecting all the factor values which are presented in this paper. The relative importance of indicators and their values are imprecise and uncertain variables which are modelled by using the fuzzy set theory. Relative importance of indicators under each identified customer satisfaction factor is stated by analogy to fuzzy analytic hierarchy process framework. Determining indicator values is stated as fuzzy group decision-making problem. The aggregated values of indicators are determined by using the fuzzy ordered weighted averaging operator. The overall index of customer satisfaction is determined by considering aggregated values of customer satisfaction factors. The level of customer satisfaction, which is closely linked with the quality of banking services, is determined by using fuzzy logic if–then rules. A case study with real-life data obtained from 22 enterprises is presented to verify the proposed method. It is shown that the proposed fuzzy model is a useful and effective assessment tool.Item A multi-analytical approach to modeling of customer satisfaction and intention to use in Massive Open Online Courses (MOOC)(2020) Pozón-López I.; Kalinić, Zoran; Higueras-Castillo E.; LIEBANA-CABANILLAS, FRANCISCO© 2019 Informa UK Limited, trading as Taylor & Francis Group. The purpose of this study is to classify the predictors of satisfaction and intention to use in Massive Open Online Courses (MOOC). Informed by a scientific literature review, this work poses a behavioral model to explain intention to use via various constructs. To this end, the authors have carried out a study through an online survey of Spanish Internet users. Two techniques were used: first, structural equation modeling (SEM) was approached to determine which variables had significant influence on MOOC adoption; in a second phase, the neural network model was used to rank the relative influence of significant predictors obtained by SEM. The analysis also shows that perceived satisfaction is affected by the quality of the course, its entertainment value and its usefulness. The latter variable also plays a major role when addressing user emotions. On the other hand, results from the neural network analysis confirmed many SEM findings and also provided a slightly different order of influence of significant predictors. The study provides an original focus in the study of perceived satisfaction and intention to use for MOOCs by extending the models proposed in previous research with regard to this emerging field.Item A multi-analytical approach to peer-to-peer mobile payment acceptance prediction(2019) Kalinić, Zoran; Marinković, Veljko; Molinillo, Sebastian; LIEBANA-CABANILLAS, FRANCISCO© 2019 Elsevier Ltd This research is a pioneering study into peer-to-peer mobile payment (P2PM-pay) systems' adoption. It proposes a behavioral model of the use of P2PM-pay systems and identifies the key antecedents of the customer's intention to use. Using a two-stage approach, the research model is assessed with data collected through an online survey from a sample of 701 respondents. In the first step, structural equation modeling (SEM) is used to determine P2P mobile payment acceptance predictors. In the second step, neural network models are used to rank the relative influence of significant predictors obtained from the SEM. The results show that consumers perceive the usefulness of P2PM-pay as the most important factor influencing their decision to adopt this innovative technology. The significant impact of social norms and perceived trust are also corroborated. The paper provides important strategic guidelines for the management of companies involved in the development and implementation of P2PM-pay systems.Item A multi-criteria decision-making approach to performance evaluation of mutual funds: A case study in Serbia(2018) Jakšić, Milena M.; Mimović, Predrag; Leković, Miljan© 2016 - Yugoslav Journal of Operations Research. In this paper we evaluate the performance of nine mutual funds in the Republic of Serbia in the period 2011-2013 by integrating traditional approaches for measuring absolute efficiency and the selected multi-criteria decision-making methods for measuring relative efficiency. The aim of our research is to test selection abilities of Serbian portfolio managers. Performance evaluation of mutual funds, being by its nature a complex problem of multi-criteria decision-making, must be solved by the methods that have, at least, the same level of complexity. Research results indicate that mutual funds have inferior performance, which on the other hand, confirms that the national portfolio managers lack selection abilities.Item A multi-methodological approach to complex problem solving: The case of serbian enterprise(2017) Zlatanović, DejanaIncreasing complexity and diversity of management problems in modern enterprises requires the increasing diversity of models, methods, and methodologies. In creatively dealing with these complex, changeable and multidimensional management problems, i.e., problem situations, different systems methodologies for problem situations, structuring have been developed. Since no methodology is able to explore all aspects of the complex problems in enterprises, the topic of this paper is a multi-methodology approach that implies combining selected systems methodologies (Strategic Assumptions Surfacing and Testing, Team Syntegrity and Organizational Cybernetics) within a particular intervention. Therefore, research in the paper is relied on Critical Systems Thinking as a conceptual framework for combined use of systems methodologies. The paper aims to demonstrate how mixing the selected systems methodologies and tools can help managers in solving complex problems, such as the issues of strategy formulation and implementation in enterprises. Accordingly, combining these methodologies to support strategy formulation and implementation is applied to a Serbian enterprise.Item A SEM-neural network approach for predicting antecedents of m-commerce acceptance(2017) LIEBANA-CABANILLAS, FRANCISCO; Marinković, Veljko; Kalinić, Zoran© 2016 Elsevier Ltd Higher penetration of powerful mobile devices – especially smartphones – and high-speed mobile internet access are leading to better offer and higher levels of usage of these devices in commercial activities, especially among young generations. The purpose of this paper is to determine the key factors that influence consumers’ adoption of mobile commerce. The extended model incorporates basic TAM predictors, such as perceived usefulness and perceived ease of use, but also several external variables, such as trust, mobility, customization and customer involvement. Data was collected from 224 m-commerce consumers. First, structural equation modeling (SEM) was used to determine which variables had significant influence on m-commerce adoption. In a second phase, the neural network model was used to rank the relative influence of significant predictors obtained from SEM. The results showed that customization and customer involvement are the strongest antecedents of the intention to use m-commerce. The study results will be useful for m-commerce providers in formulating optimal marketing strategies to attract new consumers.Item A strategic model for sustainable business policy development(2020) Strukelj T.; Nikolić, Jelena; Zlatanović, Dejana; Zabukovsek S.© 2020 by the authors. Growing importance of sustainable development, corporate social responsibility and business ethics requires various types of contemporary organisations innovation. This research assesses the problem related to business policy innovation (BPI), which represents organisational governance determination. The main purpose of the paper is to qualitatively and quantitatively present a new, requisitely holistic strategic model of the soft factors influencing BPI, which interdependently incorporates changes in organisational values, culture and business ethics, as well as stakeholders' interests reconciliation, thus determine soft possibilities for more sustainable business policy, management and practice. While the relevance of these factors for business policy is in the literature widely recognized, there is a small amount of empirical research on their influence on BPI. To mitigate this research gap, advanced structural equation modelling (SEM) based partial least squares (PLS) method was used for analysing data of 734 organisations in Slovenia, the EU state. The research results show that researched soft factors organisational values, culture and stakeholders' interests reconciliation statistically confirmed influence BPI. Thus, these recognitions can be used as the basis for strategic managerial decision making towards social responsibility and sustainability of an organisation. Reasons why it has not been statistically confirmed that business ethics influence BPI needs to be investigated in future research.Item Adaptive neuro fuzzy evaluation of energy and non-energy material productivity impact on sustainable development based on circular economy and gross domestic product(2021) Petković, Biljana; zandi, yousef; Agdas A.; Nikolic I.; Denic N.; Kojić N.; Selmi A.; Issakhov A.; Milošević, Božidar; KHAN, AFRASYABCircular economy represents a concept for turning of material and energy wastes into resources for other purposes in a closed loop system. The purpose of circular economy is to minimize the energy and material wastes. The effect of energy and non-energy material productivity on the gross domestic product (GDP) was analyzed in this study. The main contribution of the investigation was to determine which sector of energy or non-energy material productivity has the more relevance on the GDP. Energy productivity represent energy consumption sector while non-energy material productivity represents the sector closely connected to the circular economy. The used database covers OECD members in period 1990–2020. According to the results one can determine the current status of the economic development and what needs to be improved to reduce the energy and material wastes. On the contrary GDP needs to be tracked in order determine which factor has the more influence on the GDP. For such a purpose adaptive neuro fuzzy inference system (ANFIS) was used. The metals consumption represents the most relevant factor for GDP variation and prediction. The results show also the combination of non-energy material productivity and generated municipal waste is the best-case scenario for the GDP prediction. The obtained results could represent the best practices for implementation of circular economy concept.Item Agricultural enterprises and economic growth: A regional analysis in the Republic of Serbia(Balkan Scientific Associtaion of Agricultural Economists, 2020) Dimitrijević, Miloš; Vrzina, Stefan; Leković, MiljanSince agriculture is the highly important economic activity in the Republic of Serbia, it is necessary to create an environment in which competitive agricultural enterprises will develop. However, regions in the Republic of Serbia considerably differ regarding the intensity of agricultural activity. This paper examines the impact of agricultural enterprises on the region's contribution to the gross domestic product (GDP) of the country in the period between 2010 and 2018. Activity of agricultural enterprises was observed using number of agricultural enterprises, number of employees in them, their turnover and gross value added. Random-Effects GLS regression showed that regions with higher agricultural activity contribute to the lesser extent to the GDP of the country. Research results are robust to changing sampling period and lagging independent variables. In this regard, several proposals have been recommended.Item An analysis of the factors of nairu dynamics in selected oecd countries(2016) Marjanović, Gordana; Mihajlović, Vladimir© 2016 Wrocław University of Economics. Unemployment represents one of the major problems in modern economies. In order to create appropriate measures for its reduction, it is necessary to know the exact relationship between the NAIRU (Non-Accelerating Inflation Rate of Unemployment) and the actual unemployment rate. Therefore, this paper examines the impact of various factors on change in the NAIRU rate using the example of selected OECD countries. The impact of the actual unemployment rate on the NAIRU is analyzed by examining the presence of hysteresis in unemployment rates, while the second part of the analysis examines the impact of the longterm unemployment rate and trade union density on the NAIRU. The results show that the hysteresis hypothesis is confirmed in almost all the countries when the analysis is applied to the individual, but not to the panel data. On the other hand, changes in the rate of the long term unemployed explain a high percentage of change in the NAIRU, while the impact of the trade union density varies considerably from country to country. The main conclusion is that institutional reforms, which affect the labour market and especially the sources of long-term unemployment, might be successful in the reduction of unemployment rate and its fluctuations.Item An efficient genetic algorithm for the uncapacitated R-allocation P-hub maximal covering problem(2018) Jankovic, Olivera© 2018 Faculty of Organizational Sciences, Belgrade. All Rights Reserved. This paper deals with the Uncapacitated r-allocation p-hub Maximal Covering Problem (UrApHMCP) with a binary coverage criterion. This problem consists of choosing p hub locations from a set of nodes so as to maximize the total demand covered under the r-allocation strategy. The general assumption is that the transportation between the non-hub nodes is possible only via hub nodes, while each non-hub node is assigned to at most r hubs. An integer linear programming formulation of the UrApHMCP is presented and tested within the framework of a commercial CPLEX solver. In order to solve the problem on large scale hub instances that cannot be handled by the CPLEX, a Genetic Algorithm (GA) is proposed. The results of computational experiments on standard p-hub benchmark instances with up to 200 nodes demonstrate efficiency and effectiveness of the proposed GA method.Item An integrated swot – extended piprecia model for identifying key determinants of tourism development: The case of serbia(2021) Popovic G.; Stanujkic, Dragisa; Mimović, Predrag; Milovanovic, Gradimir; Karabasevic, Darjan; Brzakovic P.; Brzakovic A.This paper proposes a new integrated model based on SWOT and extended PIvot Pairwise RElative Criteria Importance Assessment (PIPRECIA) that offers a systematic approach to strategic planning in tourism. The applicability of the proposed integrated model is demonstrated through a case study defining the main determinants of tourism development in Serbia. The result emphasizes the strategy Improving the organization, management, and enhancement of tourism development as the highest priority for implementation. The model facilitates decision-making in tourism, and its key advantages are its suitability for application in group decision-making and its simplicity.Item Analysis of budget deficit in the candidate countries for EU membership(2017) Despotović, Danijela; Durkalic D.The problems of deficit and debt are the traditional drivers of the recession in the past. Due to the high impact of the budget deficit to increase in indebtedness and deterioration of a macroeconomic performance, the European Union in Maastricht Treaty and later in the Pact of Stability and Growth strictly defined fiscal criteria which the member states should adhere to. Fiscal criteria are particularly important when it comes to candidate countries for EU membership. The aim of this paper is that, through theoretical and empirical basis perform a comparative analysis of the budget deficit in EU countries and candidates for membership in the EU, to rank the 34 countries according to the criteria of public finances and to show the causality between the candidate countries for membership of the EU and EU member states.Item The analysis of factors influencing tourists' choice of green hotels(University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjaĉka Banja, 2020) Zdravković, Stefan; Peković, JelenaIn addition to achieving economic goals, tourism companies must take care of social goals and the impact of their business activities on the environment. Social responsibility and economic profit are not contradictory, but rather complementary. Many companies implement Environmental Management System (EMS) in their business operations. Nowadays, Corporate Social Responsibility (CSR) is more and more represented in tourism and hotel industry. An increasing number of tourists are showing concern for the environment and they are staying in green hotels during their travels. The survey was conducted to determine whetherthetourist‟s intention to stay at the green hotel is affected the tourists’ care for the environment and the perceived value of the green hotel offers. Statistical analysis was performed on a sample of 155 respondents from the territory of the Republic of Serbia. The results of empirical research have shown that these variables have a positive impact on the choice of green hotels, so the study offers important practical implications for tourism and hospitality companies.Item Analysis of factors of smart tourism development in Serbia(University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjaĉka Banja, 2018) Savić, Jovana; Pavlović, GoranThe rapid development of information technology has created numerous opportunities for the tourism sector. Smart tourism is one of the latest trends in tourism based on smart technologies. The aim of the research is to analyze the state of the key factors for the development of smart tourism in Serbia. Three factors were selected for the analysis: technology, human capital and innovation. The analysis relies on data on the state of these factors in the past five years from the reports on Serbia's Competitiveness Index and comparing these data with data for countries in which smart city development initiatives have been launched. The conclusion drawn from the analysis is that Serbia has a good basis for the development of smart tourism from the point of view of technology and human capital, but that there is low innovative potential for it. Understanding these factors from the point of view of their past and current development, as well as level of development in relation to the countries in which smart cities exist, can help to determine to what extent and in which ways these factors can be improved in order to create the necessary conditions for development of smart tourism in Serbia.