Bojan Krstić

Examination of travel and tourism competitiveness contribution to national economy competitiveness of sub-Saharan Africa countries

ABSTRACT The purpose of this research is to examine the influence of travel and tourism competitiveness (measured by the Travel & Tourism Competitiveness Index [TTCI]) on the national economic competitiveness of sub-Saharan Africa (SSA) countries (measured by the Global Competitiveness Index [GCI]). The aim is to identify critical factors for improving competitiveness of SAA countries from the area of tourism competitiveness. The study was conducted using the following methods: regression, cluster and grey relational analysis (GRA). Results reveal that travel and tourism competitiveness has a high impact on national competitiveness in the analysed group of countries. The study identified three homogeneous groups within SSA countries according to the TTCI pillars. The different impact of the TTCI on the GCI is determined in each of these three homogeneous groups of countries. The outcomes of this study could provide recommendations for tourism development policy-makers in SSA countries based on the results of GRA.

Homogeneity analysis of south-eastern European countries according to tourism competitiveness performances

The purpose of this research is to analyse the competitiveness of south-eastern Europe (SEE) countries with the help of The Travel and Tourism Competitiveness Index (TTCI) and The Global Competitiveness Index (GCI), as well as to explore the correlation and mutual influence of these two indices. The aim is to explore the homogeneity of SEE countries according to tourism competitiveness performance. The research was conducted on the basis of secondary data sources and statistical methods, with emphasis on the cluster analysis. Structurally, the article is composed of the following parts: Analyses of the competitiveness of SEE countries according to GCI and TTCI, exploration of SEE countries homogeneity according to the GCI and the TTCI sub-indices, as well as according to the pillars within the TTCI. The research results indicate that there exists a high correlation between the TTCI and GCI, as well as that SEE countries are not homogenous according to these indices. The research provides the initial framework for benchmarking the tourism performance of different countries, and determination of objectives and strategies for improving tourism competitiveness.

INTELLECTUAL CAPITAL AS THE SOURCE OF COMPETITIVE ADVANTAGE: THE RESOURCE-BASED VIEW

The concepts of intellectual capital and competitiveness are widely studied issues among researchers during the last few decades. Intangible assets have been proved to be the fundamental source of value and competitiveness in modern enterprises. Intellectual capital is a valuable invisible resource which drives firm’s growth and provides superior value for stakeholders. Therefore, the aim of the paper is to examine the role the intellectual capital has in creating and sustaining competitive advantage of enterprises from the resource-based perspective.

THE MICROECONOMIC PERSPECTIVES OF INTELLECTUAL CAPITAL MEASUREMENT

Intellectual capital has become a widely studied issue among researchers in the knowledge economy. This is due to the fact that intellectual resources are the main driver of growth and competitiveness in the globalized environment. However, measuring intellectual capital, as intangible resource, is not an easy task. Researchers have been trying for decades to put in place measurement system that can provide useful information for managers. Definitely, there are numerous measuring methodologies available, but the list is non-exclusive. Appropriate usage of intellectual capital measuring methodologies enables adequate management of intellectual capital and thus lead to the creation of competitive advantage and value for enterprises and wealth for nations. Therefore, the aim of the paper is to examine various microeconomic measurement methodologies of intellectual capital focusing on the level of organizational. The authors critically evaluate numerous noteworthy methods of the intellectual capital appraisal, as well as the indicators used in order to capture the performances of intellectual capital, thus contributing to the improved management of invisible, valuable non-material resources in the process of value creation for various stakeholders and enhancing competitiveness of an enterprise.

An Analysis of the Labour Productivity of the Agricultural Sector in the Republic of Serbia

Abstract One of the main objectives pursued in agriculture as the primary sector in the economy is to increase the labour productivity. In order for this objective to be achieved, it is necessary to increase agricultural production, while at the same time preserve natural resources and the environment. If the creators of development policies are to formulate effective policies and strategies, adequate information relating to all vital determinants of productivity of agriculture is required. Therefore, the Statistical Office of the Republic of Serbia annually prepares and publishes, among others, information on the value of agricultural production and the number of employees in agriculture. The aim of this paper is to examine the changes in the level of productivity of agriculture in the Republic of Serbia in the period from 2007 to 2013. It also analyses the impact of labour productivity in agriculture in the share of GDP that is realized in this sector of the national economy. Agricultural population, as one of the factors that affect productivity in agriculture is analysed in terms of education and employment. The aim is to quantify the level of productivity in agriculture, as well as to examine the interdependence between labour productivity and GDP in agriculture, in order to point to the critical determinants of productivity that require improvement. The methods used in this paper are: analysis method, synthesis method, comparison method, descriptive statistics, correlation and regression analysis. Research results show that Serbia has achieved an unenviable level of labour productivity in agriculture within the analysed period of time. Research in this study is useful for the creators and holders of the development policy for the future guidance of development policies and strategies of the agricultural sector in Serbia.

How to Apply the Sustainability Balanced Scorecard Concept

Abstract Many successful enterprises have identified a large significance of non-economic determinants of business and their influence on competitive success. Social responsible behaviour becomes an imperative of modern business environment. Corporate social responsibility emphasizes more effective environmental and social performance management so that its influence on financial performance becomes more and more obvious. In that sense, the aim of this paper is to point out the theoretical foundations of the Sustainability Balanced Scorecard (SBS) concept, and to demonstrate an example of enterprise, which will show how to develop SBS in the aim of its successful application. Apstrakt Mnoga uspešna preduzeća identifikovala su veliki značaj neekonomskih determinanti poslovanja i njihov uticaj na konkurentski uspeh. Društveno odgovorno poslovanje postaje imperativ savremenog poslovnog ambijenta. Društvena odgovornost preduzeća potencira sve efektivnije upravljanje njegovim ekološkim i socijalnim performansama čiji uticaj na finansijske performanse postaje sve evidentniji. U tom smislu, cilj ovog rada je da istakne teoretske postavke Karte izbalansiranih performansi održivog razvoja (Sustainability Balanced Scorecard), kao i da na primeru preduzeća pokaže na koji način se ona može razviti u cilju uspešne primene.

The Development of a Knowledge Economy as a Factor in the Competitiveness of Central and East European Countries

The purpose of this research is to analyse the influence of knowledge resources on the competitiveness of Central and East European (CEE) countries. The aim is to identify the correlation between the achieved development level of the knowledge economy, as measured by the Knowledge Economy Index (KEI), and the competitiveness level, as measured by the Global Competitiveness Index (GCI). The study was conducted using descriptive statistics, correlation, and cluster and regression analysis. Structurally, the paper is composed of the following parts: a) analysis of CEE countries’ competitiveness according to the GCI and KEI; b) examination of the correlation between the GCI and KEI in CEE countries; and c) analysis of the influence of pillars within the KEI on the GCI in CEE countries. The research results show that there is a strong positive correlation between the GCI and KEI. The outcomes of this study are useful for development policy-makers in CEE countries and highlight the relevance of improving knowledge economy performance in future.

Importance of Implementing the Green Economy Concept and Its Impact on Financial Performance of an Enterprise

In the modern business environment, sustainable development is largely achieved through the implementation of the concept of the green economy, both at the global and national as well as at the corporate level. The motive for the application of this concept at the level of enterprise can be found in the numerous benefits and positive business experiences of companies that have already decided to take that step. Although there are different opinions regarding the character and direction of the following relation, it is stated that the most important reason for implementation of this concept is possible positive correlation with achieving financial performances and competitive advantage of the enterprise-implementator. One way of understanding this influence is through monitoring the implementation of environmental strategy, or through monitoring the process of environmental performance and social responsibility performance management.

Application complementarity of the knowledge management and internal marketing concepts in the aim of increasing enterprise's intellectual capital

Enterprise competitiveness in the era of knowledge economy is most directly connected to human and other intellectual resources. Managers and other employees become vital resource in the 21st century, and their knowledge is the key of creating and delivering superior value to the customers. Nowadays, they are one of the most important segments of assets without which enterprise cannot exist. Crucial question for management is how to enlarge other knowledge resources based on human resources knowledge, that is, their economically- relevant form - intellectual capital. Initial hypothesis of this paper is that, internal marketing, which has enterprises employees in the focus, can create adequate basis for specializing and enlarging knowledge resources - intellectual resources or intellectual capital as a key factor of competitiveness in the era of knowledge economy. Knowledge management is observed as a segment of intellectual capital management process within an enterprise, with aim to direct the efficient usage of all kinds of knowledge (individual, group-team, organizational) in order to create new business opportunities and successful commercialisations of products/services. The aim of this paper is to indicate that complementary application of the concept of internal marketing and the concept of knowledge management may result in synergetic effect of enlargement and specialisation of the knowledge resources - intellectual capital. In the paper we use methods of scientific observation, testing and connecting, as well as methods of analysis and synthesis. The purpose of obtained results application and conclusions from this research is to show to the enterprise management the importance of simultaneous effective application of internal marketing concept and knowledge transfer through processes and practices of knowledge management.