The efficiency of public expenditure and economic growth in the countries of the Western Balkans

The countries of the Western Balkans are facing a number of challenges. One of the most acute ones, certainly, is improving the efficiency of public expenditure. Having this in mind, the main research objective of the paper is to present the interdependence between public expenditure and economic growth in the Western Balkans. In addition, the analysis is focused on the efficiency of public expenditure in the group of the above-stated countries, as well as the relationship between the size of public expenditure and its efficiency in these countries. Data from the International Monetary Fund, the World Bank and the World Economic Forum were used for the analysis. The results reveal that this interdependence in the countries of the Western Balkans, in addition to different intensity, has a different direction.

The importance of organizational culture for humanitarian operations

The humanitarian setting poses a number of challenges to organizations, so it is important to respond in an adequate way. Organizational culture is a significant factor in organizational performance and can be a deciding factor between success and failure. Every organization has its own unique culture, whether management is aware of it or not. In order to perform in the most efficient way and to be able to carry the strategy into effect properly, humanitarian organizations need an adequate and strong organizational culture. Then, to strengthen the team's sense of purpose and help it move in a unified direction humanitarian principles and standards are developed. For the development of the organization timely establishment of value systems and patterns of behavior is very important. Organizational culture is important for internal structure as well as for external bonds among participants.

Organisation design and the role of ICT: Negative effects of working from home during the coronavirus pandemic

The goal of the paper is to point to the role and importance of organization design as a tool for strategy implementation, together with a dominant, role of technology in shaping the design. Namely, the development, of modern information and communication technology (ICT) is accompanied by the creation of new organizational forms, which enable the management, and employees to carry out, a significant, portion of work from home. The central focus of this paper is the impact, of technology on the creation of new forms of design, with a virtual organization taking up a particularly prominent, position. We underline the fact, that, among many changes that, the coronavirus pandemic has produced in everyday life, working from home can be considered as the most, drastic one; hence, its harmful effects are underscored, such as those relating to negative psychological effects, anxiety disorders, health issues, job loss, decreased efficiency and reduced satisfaction of the employees.

Challenges and problems of food producers in the conditions of the COVID 19 virus pandemic

The current pandemic of the COVID-19 virus will cause great consequences for the overall world economy. The global pandemic requires a global response and it is already clear that economic policy makers will need to implement significant targeted fiscal, monetary and social measures to help the affected population and economy. Within the framework of support measures for the economy, the focus should be on supporting the sectors most affected. The agri-food sector is one of the most endangered sectors of the economy, and for that very reason, the subject of this paper are the challenges and problems of food producers in the conditions of a pandemic.

Team and teamwork in the function of effective management

An unavoidable part of organizational life and management is teamwork. The goal of forming and using teams is to realize certain jobs and work tasks, to achieve or contribute to the achievement of certain results and thus the effective achievement of defined organizational goals. Only an effective team can contribute to the effectiveness of management. For these reasons, the subject of the paper is to consider the characteristics of the team and teamwork, the advantages and disadvantages of the use of teams and the effectiveness issue of the team itself. The aim of the paper is to point out the possibilities that the use of the team can provide, and also the obstacles it can bring, in order to recognize the ways of achieving and improving the effectiveness of the team.

Marketing and change management in the services sector

The service sector is a key driver of the modern economy, but the area of marketing is still not sufficiently researched. Services differ from products in many characteristics, so their planning, organization and control deserve great attention. On the other hand, many marketing experts state that product brands are increasingly taking on elements of services, because customers do not view the product only as a product, but a compilation of products and services that goes with the product. The needs of modern customers are changing rapidly, and innovating services that meet the wishes and expectations of customers is a key issue.

Methodology of cash flows analysis

Cash flows are one of the main indicators of liquidity and solvency of the company. In practice, the Statement of cash flows is very often done as "following document" to Balance sheet and Income statement. This is wrong. The statement of cash flows can give the information to its users about the ability of the company to make cash. The balance sheet and Income statement, due to their accrual basis, are not saying anything about the cash flows of the accounting period, and that is why the Statement of cash flows is very important. A good analysis of this statement can be the basis and support to the process of decision making both for internal and external users of financial information. In this paper we are presenting the methodology of the Statement of cash flows report analysis. The subject of this paper is the analysis of the Cash Flow Statement. The aim of this paper is to point out the importance of reporting on cash flows and its information capabilities to users of accounting information.

Financing of SME sector in Serbia via bank loans: Crisis and postcrisis trends

The SME sector in Serbia is extremely important for the economy of Serbia as it makes a large part of the non-financial sector, employs the most people in Serbia and participates largely in the GVA of Serbia. However, SME sector it is still insufficiently profitable and non-efficient. Bank loans are the dominant external way of financing SME sector in Serbia. The financial crisis, which has started in 2008, has affected the movement of interest rates, the availability of bank loans, bank loan security requests and the level of non-performing loans. First signs of the recovery of SME sector in Serbia have been seen in 2013.

Inovation policy of industry business entities as a factor of sustainable development in transitional environment

Innovations hold a primary role in today' Abstract s model of economic growth and are considered an important factor of sustainable development. With that aim in mind, it is necessary to define adequate innovation policy, as well as the development of inovation incentive environment, which needs to be strengthened both at macro level and the business entities level. The basic aim of this research is the analysis of the impact of innovation policy of the Serbian industry business entities as a factor of sustainable development in transitional environment. The starting hypothesis is that the largest number of Serbian business entities does not base their competitiveness on innovation development, as is common in developed countries. The paper summarises what industry business entities in Serbia need to do in order to be more numerous and more efficient. The paper consists of theoretical research that was realised in accordance with the techniques of the methodology of scientific research.

Obtaining funds on the basis of leasing in the Republic of Srpska

This paper is dedicated to leasing operations in the Republic of Srpska, which are regulated by law. Leasing is a legal transaction where the lessor transfers the right to hold and use the leased object to the lessee for a certain period, with his obligation to pay the agreed leasing fee and with the right to return the leased object to the lessor, buy it or extend the lease agreement. This way of financing is mostly used by newly established, small and medium enterprises, which do not already have the amount of funds needed to obtain investment goods. By concluding a leasing contract, the lessee does not acquire the right of ownership over the object of leasing, but acquires economic benefits from the use of the object of leasing. The lease agreement usually coincides in time with the useful life of the assets, i.e. the period of depreciation calculation. The practice is that the same contract allows the lessee to repurchase the leased asset at a symbolic price.