FBIM Transactions online No. 2    DOI 10.12709/fbim.01.01.02.00                 ISSN 2334-704X (Online)
Editor-in-chief
Dr. Zoran Čekerevac




In the FBIM Transactions Vol. 1 Issue 2 Year 2013


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#1 Walter E. Block
OPTIMAL NUMBERS OF VARIOUS PHENOMENA: NATIONS, PEOPLE, LANGUAGES, RACES, MARRIAGE PARTNERS
DOI 10.12709/fbim.01.01.02.01

#2 Ludmila Prigoda
RUSSIA IN THE MODERNIZATION: FINANCIAL ASPECT
DOI 10.12709/fbim.01.01.02.02
#3 Mario Bogdanović
SUSTAINABLE DEVELOPMENT AND EFFECTIVENESS OF MEDIUM AND SMALL ENTERPRISES
DOI 10.12709/fbim.01.01.02.03
#4 Vladislava Epifanić
MOTIVATIONAL THEORIES FINDINGS AS AN APPROACH TO THE INTERPRETATION OF A DEDICATION TO WORK OF EMPLOYEES IN EDUCATION
DOI 10.12709/fbim.01.01.02.04
#5 Miodrag Zlatković, Tomislav Brzaković, Miodrag Brzaković
PERSPECTIVES OF ELECTRONIC CHANNELS OF MARKETING
DOI 10.12709/fbim.01.01.02.05
#6 Aleksandar Miljković, Aleksandra Pušara, Ljubomir Miljković, Dejana Miljković
BASIC ASSUMPTIONS RELATED TO DEFINING THE FINANCIAL LEVERAGE
DOI 10.12709/fbim.01.01.02.06
#7 Andrija Tošić
EDUCATION OF STUDENTS AT COLLEGE OF APPLIED BUSINESS STUDIES VALJEVO ACCORDING TO EUROPEAN COMPUTER DRIVING LICENCE STANDARD
DOI 10.12709/fbim.01.01.02.07
#8 Milka Ivanović, Zorana Antić
QUALITY MANAGEMENT OF NON-PROFIT ORGANIZATIONS AT AIM TO IMPROVE COMPETITIVE ADVANTAGE
DOI 10.12709/fbim.01.01.02.06
#9 Milorad Markagić
EXTERNAL AND INTERNAL ELECTRONIC INFORMATION SECURITY
DOI 10.12709/fbim.01.01.02.09
#10 Vladimir Grujić, Dragan Lazić
THE FINAL PHASE OF THE FLIGHT OF AIRCRAFT AS AN ELEMENT OF CRISIS MANAGEMENT IN AVIATION - Part I
DOI 10.12709/fbim.01.01.02.10
#11 Milan Krstić, Ana Skorup, Marija Marković-Blagojević
A SURVEY OF MANAGERS' OPINION ON THE NEEDS OF ADDITIONAL EDUCATION IN MANAGEMENT
DOI 10.12709/fbim.01.01.02.11
#12 Milutin Matković
ONE LOOK AT THE DIFFERENT APPROACHES OF MANAGEMENT
DOI 10.12709/fbim.01.01.02.12
#13 Jovanka Popović, Milan Novović, Saveta Vukadinović
MARKETING APPROACH TO THE HEALTH TOURISM IN REPUBLIC OF SERBIA
DOI 10.12709/fbim.01.01.02.13
#14 Muzafer Saračević, Sead Mašović
MODEL OF THE IMPLEMENTATION OF THE ELECTRONIC PAYMENT SYSTEMS BASED ON THE BUSINESS INTELLIGENCE
DOI 10.12709/fbim.01.01.02.14
#15 Milan Mitrović, Ana Gavrilović
ORGANIZATION AND MANAGEMENT IN HEALTH CARE SYSTEM OF SERBIA
DOI 10.12709/fbim.01.01.02.15
#16 Marija Živanović
THE APPLICATION OF BUSINESS PROCESS REENGINEERING IN THE DEVELOPMENT OF SMEs
DOI 10.12709/fbim.01.01.02.16


OPTIMAL NUMBERS OF VARIOUS PHENOMENA: NATIONS, PEOPLE, LANGUAGES, RACES, MARRIAGE PARTNERS

Walter E. Block

Abstract
What are the optimal numbers or quantities of nations, people, languages, races, marriage partners, wealth, monies, criminals and other such phenomenon? This depends, of course, on the goals of the people answering this question. Two different perspectives will be employed in the present paper in order to wrestle with this question: the libertarian political philosophy, and what I shall categorize as prudential judgment, or economic welfare. For example, it would be unwieldy in the extreme, and unwise, to have a different monetary system for each of the some 7 billion inhabitants of earth; this would amount to no monetary system at all, or barter. Similarly, 7 billion different languages would mean communication would be impossible, surely not an ideal state of affairs from just about any perspective. But can we pin the numbers better down than this? That is the burden of the present paper.

Keywords:
optimal numbers, quantity nations, people, languages, races, marriage partners, wealth, monies, criminals

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RUSSIA IN THE MODERNIZATION: FINANCIAL ASPECT

Ludmila Prigoda

Abstract
This work represents an attempt to understand a current crisis situation that takes place in the world economic space. The reasons for the world crisis as well as the prospects of the further development of the Russian economy are also considered. Regarding Russia, the authors have concluded that the innovative breakthrough strategy is grounded on a number of monographs and drafts of long-term programs, but by this time these recommendations have not received an adequate response from the government. Russia needs a real, not virtual (conservative) modernization, providing a radical innovation upgrade and the increase in competitiveness of the technological base of the economy. Over the past two decades, Russia has experienced several types of innovations, including anti-innovations (the reforms of the early 90's of the last century) and pseudo-innovations (the attempts of a partial improvement of long outdated technologies). It is time to go to the basic innovations that can lead to radical changes in the decades to come, and become a platform of epochal innovation developments that can provide a breakthrough on a time scale of centuries.

Keywords:
world crisis, world civilizations, prospects for development, modernization

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SUSTAINABLE DEVELOPMENT AND EFFECTIVENESS OF MEDIUM AND SMALL ENTERPRISES

Mario Bogdanović

Abstract
This paper empirically examines the relationship between the concept of sustainable development (its basic components) and organizational performance of SMEs in case of Bjelovarsko - Bilogorska County in Croatia. This paper study evaluates the relationship between environmental and market policies as well as important organizational values (measured by the questionnaire of socially responsible business in small and medium-sized enterprises of the European Commission), and the effectiveness is examined by perceived organizational effectiveness questionnaire that measures different aspects of organizational performance. According to the Croatian classification, sample included N = 57 small and micro enterprises (less than 50 employees) and N = 5 medium enterprises (from 51 to 250 employees). It was found that the variable environmental policy is in a positive, but statistically insignificant correlation with organizational effectiveness (r = +0.165, p> 0.05). The positive and statistically significant correlations with organizational effectiveness proved marketing policy variables (r = +0.543, p <0.01) and organizational values (r = +0.590, p <0.01).

Keywords:
sustainable development, environmental policies, market policies, organizational performance, SMEs

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MOTIVATIONAL THEORIES FINDINGS AS AN APPROACH TO THE INTERPRETATION OF A DEDICATION TO WORK OF EMPLOYEES IN EDUCATION

Vladislava Epifanić

Abstract
Process theories model emphasizes that human motivation to perform an action, is influenced by their expectations about how they can perform this action, their expectations regarding the outcomes of these actions and the desirability of the outcome. These facts provide significant guidance in interpreting the causality aspects of job satisfaction and work commitment, and motivation theories marketing review of the significance of the data used in employees training. The relationship between all three parts of the formula is multiplicity. Since the form is the sum of efforts of motivation, performance, outcomes, and valence, it is emphasized that the employees will not be motivated for an action if they consider that they are not able to perform this action. However, even if a person is able to carry the action out, they will not be motivated if they believe that their action will have no visible result. Finally, if one believes that he can carry out the action and that this action will have a certain, but for him unattractive outcome, he will not be motivated.

Keywords:
motivation, process theories, commitment, job satisfaction, achievement, working conditions

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PERSPECTIVES OF ELECTRONIC CHANNELS OF MARKETING

Miodrag Zlatković
Tomislav Brzaković
Miodrag Brzaković

Abstract
Technological change is one of the most dynamic aspects of the marketing environment. Special significance and role in technological change has the use of new communication and information technology. Increased use of internet and related innovations dramatically changed the distribution strategy and channel marketing structure. Direct access to many structured database, data collection and reduction of time for data processing contribute to improvement of the quality and speed of information necessary to make other distribution and marketing decisions. In other words, the new communication and information technologies provide for the development and implementation of more efficient and effective marketing channels. Manufacturers wishing to market share data across sites and retail chains in terms of various programs of advertising and price levels. Different members of the marketing channels were used by different systems of reporting and communication to meet the increased need for effective and efficient decision-making. Each member of the marketing channel wants to examine the data relating to the smallest unit of business. The efficiency and effectiveness of distribution decisions will increasingly depend on the creative use of new developments such as on-line marketing research, on-line communication, on-line serving, on-line customer relationship management and other partners.

Keywords:
online marketing research, online communication, online serving, online management

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BASIC ASSUMPTIONS RELATED TO DEFINING THE FINANCIAL LEVERAGE

Aleksandar Miljković
Aleksandra Pušara
Ljubomir Miljković
Dejana Miljković

Abstract
This research was inspired by necessity to define financial leverage and the effective monitoring of performances of the financial sector, both for the purposes of regulation as well as for the needs of internal management. The paper elaborates some of the existing possibilities for integrating leverage as traditional concept, and VaR (value at risk, risk value) as the modern concept, which eliminates disadvantages of the first measure, providing far richer and more realistic picture of economic performances and risk units, up to the level of profit centers. A comprehensive analysis of business primarily involves determining the creditworthiness of the observed trading companies. Solvency contained therein is an expression of the financial position, profitability and overall success of the business. It is expressed by certain operating indicators (ratio of numbers). Ratio numbers are determined based on the data corresponding to the financial statements (balance sheet, income statement and statement of cash flows). The definition of financial leverage and liquidity remains a significant issue for a Management team of a company. In addition, it is necessary to make a deeper analysis of trade (activities) and indebtedness. In the end, the determination of liquidity is performed by analyzing the net current assets fund (funds). The risk is more or less uncertainty regarding an expected outcome of the business. This uncertainty is due to the lack of sufficient and reliable information for business decision making.

Keywords:
leverage, management, analysis, profit, risk, liquidity, effects

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EDUCATION OF STUDENTS AT COLLEGE OF APPLIED BUSINESS STUDIES VALJEVO ACCORDING TO EUROPEAN COMPUTER DRIVING LICENCE STANDARD

Andrija Tošić

Abstract
European Computer Driving Licence (ECDL) is an internationally recognized computer literacy standard which represents a criterion for assessing the competencies of computer users. The aim of ECDL training in Valjevo Business School of Applied Studies is to enable students to acquire the necessary computer skills and actively participate in information society, as well as to prepare them to meet the digital requirements of future business environment by practical application of these skills. Acquisition of this qualification is becoming increasingly important, since it is being accepted by employers as a standard for assessing the computer competencies of both current and potential employees. In addition, it can enhance employability or career prospects at both national and international levels.

Keywords:
education of students, European Computer Driving Licence standard, ECDL, computer knowledge, examination results

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QUALITY MANAGEMENT OF NON-PROFIT ORGANIZATIONS AT AIM TO IMPROVE COMPETITIVE ADVANTAGE

Milka Ivanović
Zorana Antić

Abstract
Develop, implement and effective quality management in nonprofit organizations is important not only in terms of improving customer service, but also in terms of improving the efficiency and performance levels, with the aim of achieving competitiveness and access to funds. Starting from these claims the authors have investigated the use of quality standards in non-profit organizations in transition countries, focusing on Serbia, and found that a number of nonprofit organizations in the countries in transition was applied by some of the concepts of quality management as a means of establishing a quality culture and providing long-term goals related to satisfaction of the users and to ensure the funding sources. However, this practice is, unfortunately, a rare example in non-profit organizations in Serbia, which reduces their efficiency and effectiveness. Having such knowledge and the many difficulties faced by non-profit organizations in Serbia, as well as the poor results achieved in some areas, there is a need for standardization of business which includes the design and implementation of an effective quality management system. Therefore, goal of the authors is that in this study point to the need for changes in business behavior in terms of standardizing operations and in this context, encouraging non-profit organizations in Serbia to implement any of the process quality system model.

Keywords:
effective quality management, nonprofits, competitive advantage, standardization, performance

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EXTERNAL AND INTERNAL ELECTRONIC INFORMATION SECURITY

Milorad Markagić

Abstract
Contemporary communications between individuals and institutions, trough evolution of technological resources, becomes more dynamic and information flow, mostly digital, reaches unexpected proportions. It is inconceivable that any aspect of modern business could be carried without use of computer equipment and ICT resources.Besides the great benefit of easier and faster transmission and simplicity of communication in the field of information trough space of generating, processing and transmiting, there are malicious manipulation, theft and destruction of information.

Keywords:
information, security, computer networking, computer systems, telecommunications

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THE FINAL PHASE OF THE FLIGHT OF AIRCRAFT AS AN ELEMENT OF CRISIS MANAGEMENT IN AVIATION

Vladimir Grujić
Dragan Lazić

Editor’s note
This article is too large to fit into any one of our issues. But, due to specific thematic and its importance, we have decided to run it as a two part series. The first of these, below, features the introduction, the aviation history and crises management in the aviation. Part II, to appear in our third issue, contains most of the analysis of the main problems of landing, and ends with the authors’ conclusion and bibliography.

Abstract
Airline companies have a fundamental existential need to operate in a highly regulated environment. In order to accurately plan their activities and achieve their strategic objectives concerning the safety of the passengers and freight, they should provide a highly competitive labor market in which safety control would be a key point. In conditions of high competitiveness of the ideas, events, or commercial success, the risk must be constantly analyzed and controlled in all respects. The risk itself exists as long as the mankind. It is a complex, ongoing, inevitable and uncertain phenomenon, which is a part of our lives. Concerning aviation, the risk is present both on the ground and in the air. The risks are particularly present during the transport of passengers and goods. Proactive planning and responsibility of the airline companies allows managers to control, influence and solve the crisis, diminishing the possibility of its occurrence. Many theorists, in an attempt to make a definition, equate the crisis management with actions in emergency situations. Crisis management in aviation can be defined as a set of functions or processes that are designed to identify, investigate and predict potential crises and to establish specific procedures that will enable the company to prevent a crisis and to overcome it.

Keywords
crisis management in aviation, airline, crew, pilot, crisis, aircraft, passengers, cargo, contingency, bad judgment

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A SURVEY OF MANAGERS' OPINION ON THE NEEDS OF ADDITIONAL EDUCATION IN MANAGEMENT

Milan Krstić
Ana Skorup
Marija Marković Blagojević

Abstract
The paper presents the results of a interviewing of needs for additional training managers in management, implemented in the wider area of the Republic of Serbia, conducted on a representative sample of 105 managers, who come from the micro, small, medium and large enterprises. The purpose of the interviewing is to improve the competitiveness of business systems through the increase of competencies of managers through the recording of their need for additional education, based on which would create specialized courses for additional training, by higher education institutions in management. The aim of interviewing is to identify the relevant areas of additional managemenet education. Empirical interview of managers regarding the additional training in management included two important areas: management training conducted upon graduation and the need for future education in management. Management education the conducted upon graduation included the following variables, namely: the type of education when education was done, the way it performed, place of education, as well as to monitor whether the training certificate, which are further operationalized with a total of 10 scales of measurement. Needs for future education in management included the following important areas of knowledge, including: general menagment; informatics; economics, organization and technology and manufacturing, which are further operationalized through the 46 scales of measurement. Results of interviewing have proved the ability to identify of management needs in areas for relevant knowledge, justification in interviewing managers needs for additional education in management, and clearly indicated the directions in which should prepare curricula and organize additional education managers.

Keywords:
survey, education, management, competitiveness

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ONE LOOK AT THE DIFFERENT APPROACHES OF MANAGEMENT

Milutin Matković

Abstract
The process of leadership is crucial factor of the management of any company. In this article there will be analyzed: the process of leadership, different approaches to process of leadership, as well as differences in managing the company, team or group. Also, different approaches to authoritative and flexible model of management, their advantages and disadvantages, their applicability on different levels of organization, as well as for various situations and problems that may occur through managing process will be analized. It will be explained: how different styles of leadership can be used in various situations, why is one style more favorable than the other, as well as their weaknesses in particular situations; the differences in managing various organization levels; what are the qualities of different organization levels, in what way managers can or must adapt themselves to their environment, why authoritative manager is more suitable for some situations, and flexible one has start advantage in another; what kind of teams can exist and what is necessary that the team functions properly; are groups the most basic of all organization units and what is necessary for successful leading of a group. Also, new models of management that are present on global market will be discussed. Opportunities that various aspects of leadership give, their differences, advantages, their applicability on groups, teams, or companies will also be examined.

Keywords:
leadership, management, types of leadership, approach to managing

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MARKETING APPROACH TO THE HEALTH TOURISM IN REPUBLIC OF SERBIA

Jovanka Popović
Milan Novović
Saveta Vukadinović

Abstract
Territory of Republic of Serbia is one of the world's spatial entities with extraordinary richness in thermal mineral water, mountains, rare and lush vegetation. These resources represent a very good foundation for the development of health tourism, which deserves special attention in this area, given that they haven't been sufficiently utilized. This paper aims to present possibilities of development of health tourism in the Republic of Serbia, as a topic that is very relevant in the present conditions, because the range of attractive components in the world reduces. Since the marketing approach is an indispensable part in creating health tourism development, special attention was focused on this segment of its overall development. Defining and differentiation of marketing approach in the health tourism development includes number of determinations, which in an original way, allow treating contemporary issues. Regarding this, the problem is placed in a way not only to give a scientific contribution from a theoretical point of view, but also for its practical application. This approach allows observation of both, development and market component. At the end of the paper SWOT analysis will be done, which will allow consideration of the real strengths and weaknesses, opportunities and threats, in marketing approach implementation to the development of health tourism in the Republic of Serbia, which includes organizational, commercial and financial footing that could encircle this issue.

Keywords:
Republic of Serbia, marketing approach, health tourism, development, SWOT analysis

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MODEL OF THE IMPLEMENTATION OF THE ELECTRONIC PAYMENT SYSTEMS BASED ON THE BUSINESS INTELLIGENCE

Muzafer Saračević
Sead Mašović

Abstract
This paper describes the concepts and methodologies of business intelligence system that enables users to improve the e-payment service quality and business improvement. The aim is to demonstrate that the use of business intelligence combined with e-payment systems may lead to a better understanding of customers and improve the monitoring and analysis of their behavior. These analyzes can be used to improve customer relations and to gain a competitive advantage over other systems. In this paper, we gave the proposal of integration with the advanced tools and technologies (OLAP, Data Mart and CRM analysis) which would help in shaping the processes that collect data and transform it into useful information and knowledge. Practical part of the paper is implementation of the model of e-payment with elements of business intelligence using advanced Java technologies. The advantages of this type of implementation are given in the last segment of the paper.

Keywords:
business intelligence, ePayment, e-payment, OLAP, Data Mart, Java technology

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ORGANIZATION AND MANAGEMENT IN HEALTH CARE SYSTEM OF SERBIA

Milan Mitrović
Ana Gavrilović

Abstract
There is a high level of correlation between the contemporary health-oriented management and the contemporary medical technology. Health managers and experienced health workers entrusted with organizational and managerial functions can and must work as a team, with the common goal of developing health institutions and health services. The functioning of health institutions has its limits in method and scope of financing overall needs of a modern and efficient health care system. Health management can, to a large extent, improve the system of work and operation from the point of view of efficiency and effectiveness, but it can as well improve the technology of health services in all areas, without its modernization. Many US and European health institutions use new entrepreneurship models and forms of financing through joint investments and public-private partnership. Reform of the health system in Serbia at all levels of health care is an imposing need and a must. Improvement of health management, in particular in the part of support and utilization of highly competent human resources in management is an instrument of improving organization, functioning and operation of health institutions, but also an instrument of an efficient transfer of technology and know-how. As a key determinant of development and improvement of health system, it is necessary to emphasize the need of appointing managers at the level of health institution management, who are capable of managing the limited resources in an efficient manner and implement changes in practice, in terms of functioning and internal reorganization of the health care service system. The overall health system is given the possibility to be modernized and upgraded by focusing on capacity building, strengthening managerial skills, as well as by using positive examples and experiences, the so-called best practices, especially those of the developed countries.

Keywords:
health system, health institutions, health management, efficiency, effectiveness, quality management.

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THE APPLICATION OF BUSINESS PROCESS REENGINEERING IN THE DEVELOPMENT OF SMEs

Marija Živanović

Abstract
Small and medium-sized enterprises have faced with a number of difficult problems all over the world. The characteristics of such situation are reflected in the difficult adaptation to changes that would quickly lead to the improvement of the quality of management and overall enterprises. Companies hardly see a solution to overcome the various sources of crises and their long-term consequences. Management needs to find a strategy for the rapid reaction and motivation of its employees. The paper presents one of the major solutions implemented in the modern world, and is based on the premise of the application and development of technology and the process of re-engineering, which is a sure way to improve current state of business. The introduction of re-engineering concept in business process is important for the change process that led to the crisis in a small and medium-sized enterprises and their management in a competitive market. Additionally, the role of re-engineering process as a management technique is important, so it could be an excellent solution for the problems that have arisen after beginning of the economic crisis. This is primarily important in the processes which have to take into account the changed and considerably reduced demand for goods and services. A reengineering process first determine what the company needs to do, and then how to do it. Thus, this management technique is of the global interest for the improvement of business conditions.

Keywords:
reengineering, efficiency, business, management, crisis, small and medium-sized enterprises, SME

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