Book of abstracts m sphere 2013

2nd International M-Sphere Conference For Multidisciplinarity in Science and Business 2nd International M-Sphere Conference

Book of Abstracts Dubrovnik, Croatia 10th - 12th October 2013

M-Sphere Association for Promotion of Multidisciplinarity in Science and Business 2nd International M-Sphere Conference For Multidisciplinarity in Business and Science (2nd M-Sphere Conference)

Book of Abstracts

Dubrovnik, Croatia 10th – 12th October 2013

2nd M-Sphere Conference, Book of Abstracts. Copyright 2013. All rights reserved. The author is responsible for all of the content that has been published. Printed in Croatia. No part of this book may be used or reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in crtitical articles or reviews.

Organized by: M-Sphere (www.m-sphere.com.hr) Publisher: Accent For Publisher: Tihomir Vranešević Editors: Tihomir Vranešević Doris Peručić Miroslav Mandić Boris Hudina Diana Plantić Tadić

ISBN 978-953-7930-01-1 A CIP catalogue record for this book is available in the Online Catalogue of the National and University Library in Zagreb as 856173

M-SPHERE M-Sphere - Association for Promotion of multidisciplinarity in Science and Business

MISSION Promote multidisciplinary approach.

Promote multidisciplinary approach by encouraging and providing the circumstances to exchange of experiences and ideas from different disciplines, in order to further encourage scientific curiosity in research and practical work, with the aim of achieving positive change in all spheres of science, business and society - respecting multidisciplinary.

OBJECTIVES Acquiring of conditions for achieving a permanent mission of the organization of annual conferences, publishing journals and various forms of education.

VISION Become a focal point of advocacy for multidisciplinary approach in business and society.

GUIDING PRINCIPLE IDEAS WORTH TO SPREAD– RESULTS WORTH TO DISSEMENATE

Committee Members (Alphabetical Order)

SCIENTIFIC COMMITTEE MEMBERS FOR THE CONFERENCE: Professor Ivo Ban

University of Dubrovnik, Croatia

Professor Vesna Babić Hodović

University of Sarajevo, Bosnia and Herzegovina

Professor Antoni Serra Cantallops

Universitad de les Illes Balears, Spain

Professor Stjepan Dvorski

University of Zagreb, Croatia

Pofessor Felicite Fairer-Wessels

University of Pretoria, South Africa

Professor Leopoldo Gutiérrez Gutiérrez Universidad de Granada, Spain Professor Pablo Gutiérrez Rodríguez

Universidad de León, Spain

Professor Rainer Hasenauer

Vienna University of Economics and Business, Austria

Professor Božo Mihailović

University of Montenegro, Montenegro

Professor Žarko S. Pavić

University Singidunum Belgrade, Serbia

Professor Dušan Radonjič

University of Maribor, Slovenia

Professor Drago Ružić

University of Osijek, Croatia

Pofessor Ivona Vrdoljak Raguž

University of Dubrovnik, Croatia

Professor Vesna Vrtiprah

University of Dubrovnik, Croatia

ORGANIZING COMMITTEE MEMBERS FOR THE CONFERENCE: Boris Hudina, prof.pscyh.

HDPRO, Croatia

Miroslav Mandić, PhD

University of Zagreb, Croatia

Professor Ivana Pavlić

University of Dubrovnik, Croatia

Professor Doris Peručić

University of Dubrovnik, Croatia

Professor Diana Plantić Tadić

VERN University of Applied Sciences, Croatia

Professor Tihomir Vranešević

University of Zagreb, Croatia

CORRESPONDENCE: Professor Tihomir Vranešević info@m-sphere.com.hr

Programme Details Wednesday, 09th October 2013 20.00 – 22.00

Welcome Dinner for Early Birds

Thursday, 10th October 2013 9.30 – 10.30

Conference Registration

10.45 – 11.00

Opening Ceremony / Official Welcome

11.00 – 12.30 Key Note Speeches: • The Shape of the Questions and Whether Multidisciplinarity Promises the Answers

by Professor Derek F. Abell • Did you know about tourism in Croatia? by Željko Trezner, MA 12:30 – 13.30

Coffee & Snack Break

13.45 – 15:45 1MS Paper presentations (4 parallel tracks) TRACK 1MS1 ROOM 1 TRACK 1MS2 ROOM 2 TRACK 1MS3 ROOM 3 TRACK 1MS4 ROOM 4 17.30 – 20.00

Dubrovnik Tour

20.00 – 22.00

Dinner in Dubrovnik

Friday, 11th October 2013 10.15 – 12:30 2MS Paper presentations (4 parallel tracks) TRACK 2MS1 ROOM 1 TRACK 2MS2 ROOM 2 TRACK 2MS3 ROOM 3 TRACK 2MS4 ROOM 4 12:45 – 13.45

Coffee & Snack Break

14.00 – 14:45

Plenary session and conference feed back

14:45 – 16:15

Workshop „Emotions At Works“

20:30 –

Official Farewell Dinner

Saturday, 12th October 2013 Excursion (Dubrovnik Region) 9.30 – 17.00 Note: Minimum 30 participants

Contents THURSDAY 10TH OCTOBER 2013

13.45 – 15.45

1MS1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ROOM 1.

THE PRINCIPLES OF VALUATION OF BANKS, INSURANCE COMPANIES, PENSION FUNDS AND INVESTMENT FUNDS MILAN HRDÝ

2

THE IMPORTANCE OF EAST EUROPEAN THIRD COUNTRIES FOR THE EUROPEAN UNION TRADE POLICY IN THE POST CRISIS PERIOD KRISTINA DRIENIKOVA , ELENA KASTAKOVA

3

ECONOMIC GROWTH PATHS IN EUROPE JANOS RECHNITZER, TAMAS TOTH

4

CROSS-BORDER MOBILITY OF COMPANIES IN EUROPEAN UNION AS THE PRECONDITION FOR SUCCESS IN BUSINESS JERNEJA PROSTOR

5

MINIMUM WAGES AND YOUTH EMPLOYMENT IN THE EUROPEAN UNION SUZANA LAPORŠEK

6

HOW DID THE BULGARIAN BANKING SYSTEM COPE WITH THE GLOBAL FINANCIAL CRISIS DURING 2008-2012? A PANEL STUDY DIDAR ERDINÇ

7

NEW ECONOMY VERSUS OLD ONE, ALTERNATIVE INTERPRETATION RADISLAV JOVOVIC, SANDA SENIĆ

8

THE PROBABLE FUTURE OF EU’S FINANCIAL DEVIATIONS AND THE FINANCIAL POSITION OF TURKEY IN EU’S PROCESS A. NIYAZI ÖZKER

1MS2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

HOW TO TEACH OKUN’S LAW USING MATHEMATICAL METHODS? PETRA MEDVEĎOVÁ, MARIANA POVAŽANOVÁ

9 ROOM 2.

12

FORMATTING SYSTEMS OF EXCELLENCE TOWARDS THE AIM OF DEVELOPING THE QUALITY OF EDUCATION RENATA MARINKOVIĆ

13

FORMING COMMUNITIES OF PRACTICE IN HIGHER EDUCATION: A COMPARATIVE ANALYSIS SHERYL BUCKLEY, MARIA JAKOVLJEVIC, MELANIE BUSHNEY, GRZEGORZ MAJEWSKI

14

PEDAGOGY OF E-LEARNING: CASE OF MARKETING MODULE SANDRA HORVAT, IRENA PANDŽA BAJS, DINO GOSPIĆ

15

THE EFFECT OF MINDFULNESS TRAINING ON EMPLOYEES IN A DYNAMIC ORGANIZATIONAL SETTING INGUNN MYRTVEIT, VEDRANA JEZ, VIGGO JOHANSEN

16

DIFFUSION OF INNOVATION: ADOPTION OF INNOVATIVE TOOLS FOR COMMUNICATING AND PRESENTING INFORMATION DINKO SVETIĆ, ALEN DELIĆ, IVA GREGUREC

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PROGRESSIVE METHODS OF TEACHING AT THE FACULTY OF COMMERCE OF THE UNIVERSITY OF ECONOMICS IN BRATISLAVA PETER DRABIK, PAULINA KRNACOVA, ROBERT REHAK, MARIA VASILOVA UNIVERSITY LIBRARY AS A LIVING LAB: INNOVATING WITH STUDENTS ANDREA ALESSANDRO GASPARINI, ALMA LEORA CULÉN

1MS3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 19 ROOM 3.

MULTIDISCIPLINARY APPROACH BETWEEN HEALTH MANAGEMENT EDUCATION AND HEALTH POLICY ŽARKO PAVIĆ, ZORAN KALINIĆ

22

CONTROLLING AND QUALITY MANAGEMENT SYSTEM AS SME SUCCESSFUL BUSINESS PERFORMANCE FACTORS DEŠA RATHMAN, KATARINA VAREZ

23

COMBINATION OF PROCESS MANAGEMENT AND SIX SIGMA METHODOLOGY IN THE ECONOMY OF VOJVODINA ZORAN CIRIC, IVANA CIRIC, JELENA BIROVLJEV

24

QUALITY CONTROL IMPROVEMENT USING THE SIX SIGMA METHODOLOGY ZORAN STANKO, ROBERT OBRAZ, MIRNA VARLANDY SUPEK

25

RISK ATTITUDE ASSESSMENT STUDY: CROATIAN CASE JOSIP KERETA, KATARINA LUKETA, MIRNA VARLANDY SUPEK

26

KNOWLEDGE MANAGEMENT IN KNOWLEDGE SERVICE NETWORKS DAGMAR LESAKOVA

27

VALUES ORIENTATION IN LOGISTICS MANAGEMENT IN RUSSIA AND THE UKRAINE AND ITS IMPACT ON CORPORATE PERFORMANCE SAMO O. KOTNIK, ELMAR W. M. FÜRST SYSTEMS CONCEPT OF EXPERIENCE IN TOURISM ROMANA LEKIĆ, MARTINA MAJIĆ, NATAŠA MANCE

1MS4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

GENDER AS A SIGNIFICANT BUT PROHIBITED RISK FACTOR IN LIFE INSURANCE JANA ŠPIRKOVÁ, MÁRIA SPIŠIAKOVÁ ECONOMIC AND PSYCHOLOGICAL APPROACH TO THE STUDY OF HUMAN RATIONALITY ALEKSANDAR MOJAŠEVIĆ

28 29 ROOM 4.

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INTERGENERATIONAL CONNECTEDNESS AND SOLIDARITY MAJA MEŠKO, ZLATKA MEŠKO ŠTOK

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PRIVACY ISSUES OF SOCIAL MEDIA: A MARKETING PERSPECTIVE CĂLIN VEGHEŞ, MIHAI ORZAN, CARMEN ACATRINEI, DIANA DUGULAN

35

HUMAN CAPITAL AND LABOUR MARKET: THE CASE OF THE VISEGRAD GROUP COUNTRIES SILVIE CHUDÁRKOVÁ ESTIMATION OF UNPAID WORK VALUE IN THE SLOVAK HOUSEHOLDS ALENA KAŠČÁKOVÁ, ĽUBA KUBIŠOVÁ, GABRIELA NEDELOVÁ FDI AND REGIONAL CLUSTERS IN CEE-ECONOMIES: EXPERIENCE, RESULTS AND LESSONS - A VIEW FROM GERMANY HARALD ZSCHIEDRICH THE EFFECT OF EXCHANGE RATE ON ECONOMIC GROWTH SUNA KORKMAZ

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38 39

FRIDAY 11TH OCTOBER 2013

10.15 – 12.30

2MS1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

TOURISTS’ PERCEPTION OF AUTHENTICITY IN WORLD HERITAGE HISTORIC CENTERS ODETE PAIVA, JOSÉ LUÍS ABRANTES, CLÁUDIA SEABRA, FERNANDA CRAVIDÃO

ROOM 1.

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TOURISM AND TERRORISM: STRANGE COMPANIONS CLÁUDIA SEABRA, MARIA JOSÉ NOGUEIRA, ODETE PAIVA, MARGARIDA VICENTE, JOSÉ LUÍS ABRANTES

43

MOTIVATION AND INVOLVEMENT IN INTERNATIONAL TOURISM CLÁUDIA SEABRA, JOSÉ LUÍS ABRANTES, MARGARIDA VICENTE, CARLA SILVA

44

SUSTAINABLE TOURISM FOR BETTER LIFE: REVITALIZATION OF ABANDONED VILLAGES IN CROATIAN ISLANDS SANJA ROCCO, NIKO BARBIĆ

45

RUNNING FOR LIFE: EXPLORING DISTANCE RUNNERS’ MOTIVATIONS AT SPORT TOURISM EVENTS FELICITE A FAIRER-WESSELS

46

CATEGORY MANAGEMENT PLANNING: DEFINITION OF TACTICS MILAN GASOVIC, DARKO VASELIC

47

CROATIAN T&C INDUSTRY AND STUDENTS CUSTOMER SATISFACTION WITH CLOTHING PRODUCTS PRODUCED IN DOMESTIC COMPANIES RUŽICA BREČIĆ, MAJA STRACENSKI KALAUZ, ALICA GRILEC KAURIĆ

48

CHARACTERISTICS OF BENEFICIARIES SERVED BY NONPROFIT ORGANIZATIONS IN ALBANIA XHILIOLA AGARAJ (SHEHU)

49

SUSTAINABLE REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT - PROBLEMS AND SOLUTIONS JORDANKA JOVKOVA

50

2MS2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ROOM 2.

“EASY-TO-READ” INFORMATION IN PUBLIC TRANSPORT - ITS PERCEPTION, IMPACT AND APPLICATION CHRISTIAN VOGELAUER, ELMAR W.M. FÜRST

52

MOBILITY BARRIERS AND SOLUTIONS IN PUBLIC TRANSPORT FOR SIGHT IMPAIRED IN RURAL AREAS - IMPACT AND APPLICATION CHRISTIAN VOGELAUER, ELMAR W.M. FÜRST

53

DRIVER QUALIFICATION IN THE TRANSPORT INDUSTRY – EMPIRICAL STUDY IN AUSTRIA MARIA DIEPLINGER, SEBASTIAN KUMMER, KATHRIN LENZ

54

DEVELOPMENT OF A HEURISTIC RATING MODEL FOR THE CLASSIFICATION OF KNOW-HOW-INTENSIVE AND TECHNOLOGY-ORIENTED START-UPS (KITSS) IN AUSTRIA SABINE JUNG USABILITY AND FUNCTIONALITY EVALUATION OF THE MOST PROFITABLE CROATIAN COMPANIES’ WEB SITES ANTUN BILOŠ, IVAN RUŽIĆ, IVAN KELIĆ

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56

IT-FACILITATED INDUSTRIES AND COMPETITIVE SPACES: THE DANCE OF THE ELEPHANTS MARK KRIGER, ALMA LEORA CULÉN

57

REDEFINING STOCK OPTIONS - TOWARDS BETTER SUSTAINABILITY FOR COMPANIES AND THE SOCIETY NATAŠA SAMEC

58

A MULTIPLE-FARE MULTI-PERIOD AIRLINE REVENUE MANAGEMENT MODEL SANG-WON KIM

59

QUALITY COST MANAGEMENT SYSTEM AT CROATIAN AIRPORTS GABRIJELA ŠPOLJAR, MIROSLAV DRLJAČA, DIANA PLANTIĆ TADIĆ

60

2MS3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

MARKETING DECISION MAKING UNDER CONDITIONS OF UNCERTAINTY AND RISK OTILIJA SEDLAK, MARIJA CILEG, TIBOR KIS, IVANA CIRIC

ROOM 3.

62

MARKETING OF ECOLOGICAL PRODUCTS IN OSIJEK-BARANJA COUNTY MARIJA TOLUŠIĆ, ZRINKA TOLUŠIĆ, ZDRAVKO TOLUŠIĆ

63

MAKING AND CONSUMING CHARACTERS MASAE KANAI, YORITOSHI HARA, HAJIME KOBAYASHI, MASAAKI TAKEMURA

64

EATING HABITS AND EXPERIENCE OF YOUNG PEOPLE AS THE BASIS FOR DEVELOPING NEW PRODUCTS JADRANKA IVANKOVIĆ, MAJA DAWIDOWSKY MAMIĆ, MARTINA MAJIĆ

65

PREFERENCE-BASED FUNCTIONAL FOOD MARKET SEGMENTATION USING CONJOINT AND CLUSTER ANALYSIS NENAD DJOKIC, INES MESAROS, SUZANA SALAI

66

IMPULSIVE CONSUMER BEHAVIOR RUŽICA KOVAČ ŽNIDERŠIĆ, DRAŽEN MARIĆ, ALEKSANDAR GRUBOR

67

ANALYSIS OF SPORTS CLUBS’ MARKETING STRATEGIES WITH SPECIAL REFERENCE TO ONLINE MARKETING RINO MEDIĆ, MARIJO STRAHONJA, BRANKA ŠUPUT

68

ANALYSIS OF MARKETING COMMUNICATIONS ON CROATIAN MARKET OF CARD BUSINESS MATEJA ČOP, BORIS JURIČ, KARMEN PRELEC

69

ANALYSIS OF CONSUMERS’ ATTITUDES TOWARDS HOMEMADE AND INDUSTRIAL BRANDS: CASE OF OLIVE OILS ON CROATIAN MARKET IVANA STANEKOVIĆ, DAVORIN ŠIMUNIĆ, KATARINA LUKETA

70

2MS4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ROOM 4.

MODERN TRENDS OF MARKETING DEVELOPMENT IN BANKING INDUSTRY JOVICEVIC RATIMIR

72

ANALYSIS OF IMAGE RESEARCH IN CROATIA MAJA DAWIDOWSKY MAMIĆ, DIANA PLANTIĆ TADIĆ, MIRJANA BAUTOVIĆ

73

SATISFACTION WITH CRM IMPLEMENTATION IN CROATIAN COMPANIES MIROSLAV MANDIĆ

74

KEY FACTORS, BENEFITS AND LIMITATIONS OF APPLYING SUSTAINABILITY MARKETING SILVIJE JERČINOVIĆ, AUGUST SLIVAR, VALENTINA PAPIĆ BOGADI

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PUBLIC CONFIDENCE IN INSTITUTIONS OF THE ENVIROMENTAL PROTECTION SYSTEM MERICA PLETIKOSIĆ

76

WORKSPACE AND ERGONOMICS OF A SECONDARY TECHNICAL SCHOOL DAVOR ŽILIĆ, OLIVER HIP, ROBERT IDLBEK

77

NEW CONCEPTS OF BRAND MANAGEMENT – PRIVATE LABELS STJEPAN DVORSKI, DOMAGOJ KOPREK

78

BRANDS AND BRAND MANAGEMENT PAVAO VRANEŠEVIĆ

79

LOCAL AND REGIONAL SELF-GOVERNMENT IN THE REFORM PROCESS ZVONKO NOVOSEL – DOLNJAK

80

THE IMPORTANCE OF MUSIC FESTIVALS FOR DEVELOPING YOUTH TOURISM, THE CASE OF CROATIA DORIS PERUČIĆ, BLANKA BRADVICA

81

QUALITATIVE RESEARCH DESIGN IN BUSSINES MANAGEMENT TIHOMIR VRANEŠEVIĆ

82

INDEKS OF AUTHORS

83

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THURSDAY 10TH OCTOBER 2013

1MS1 THURSDAY 10TH OCTOBER 13:45 – 15:45 ROOM 1

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THE PRINCIPLES OF VALUATION OF BANKS, INSURANCE COMPANIES, PENSION FUNDS AND INVESTMENT FUNDS MILAN HRDÝ

ABSTRACT The aim of this article is to analyze the methodology of the valuation of banks, insurance companies, pension funds and investment funds. This methodology is prepared by respecting the basic principles of the valuation of enterprises with the projection of the specifics of single financial institutions. The result is then presented as the recommended procedure of valuation of appropriate financial institution. In case of commercial banks the income approach based on dividend potential and obligation prices model are the most suitable approaches.

The income approach is based on two phase method supposing the ability to identify the future plan of single income activities and the ability to manage the risk management of banks. The discount rate is derived from the CAPM model. The similar public company method or recent acquisition method is used in practice in case of the existence of the comparable bank or comparable transaction. Also in case of pension funds and investment societies the income approach based on dividend potential is used whereas in case of investments funds the asset-based approach is the best. The methodology of valuation of insurance companies is composed of the income valuation, the market comparison method, and the obligation pricing model. Each of these fundamental procedures will be used to the same degree. Income valuation will be based upon removable net income and the dividendpaying potential principle, which will based on the insurance company’s income with technical reserves being one of the key items planned. Also important will be the determining of the discounted interest rate for the discounting of the future removable net income and with the β coefficient based on statistics data from the past pertaining to this value in the field of life and non-life insurance. As for the market comparison method, finding a comparable insurance company by using the ratio of market value and the book value as a multiplier will be of key importance.

KEY WORDS: Valuation, Methods, Analysis, Financial Institutions.

NOTE: This paper was prepared with the help of the institutional support of the Faculty of Finance and Accounting, University of Economics Prague IP 100040.

DETAILS ABOUT AUTHOR: MILAN HRDÝ ASSISTANT PROFESSOR UNIVERSITY OF ECONOMICS IN PRAGUE FACULTY OF FINANCE AND ACCOUNTING CZECH REPUBLIC hrdy@svse.cz

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THE IMPORTANCE OF EAST EUROPEAN THIRD COUNTRIES FOR THE EUROPEAN UNION TRADE POLICY IN THE POST CRISIS PERIOD KRISTINA DRIENIKOVA ELENA KASTAKOVA

ABSTRACT The development of the world economy under long-term globalization pressures and mainly during the economic crisis gets to a bad situation reflected in the national economies´ economic performance decline. The EU can respond by deepening its own efficiency and better internal reserves exploitation. In the sphere of external relations EU needs to increase its competitiveness mainly through mutual relations towards a group of so called third countries. The authors see relatively space in the creation of partnerships especially with a group of countries with which the EU has strong complementary links. The growing dependence on imports of all energy inputs predestines to this position especially Russia or other CIS countries. By deepening mutual economic and trade ties with these countries the EU can pursue its trade policy objectives within the framework of trade liberalization through the conclusion of deeper and more comprehensive free trade agreements. The strategic partnership with Russia is expected to be further developed and deepened followed by the latest initiative through the Partnership for modernization. Efforts to modernizing the Russian economy promise new opportunities for EU businesses. Russia’s accession to WTO will affect the negotiations on a new partnership agreement. The EU seeks to strengthen its economic relations with other promising CIS countries, for example by offering the possibility of concluding free trade agreements in exchange for political and economic reforms.

KEY WORDS: European Union, Trade Policy, Russia, CIS countries.

NB: The paper is a part of scientific project VEGA No. 1/0391/13 The importance of third countries for the strategic development objectives of the EU in the post-crisis period (with implications for the Slovak economy).

DETAILS ABOUT AUTHORS: KRISTÍNA DRIENIKOVÁ ASSISTANT PROFESSOR kristina.drienikova@euba.sk ELENA KAŠŤÁKOVÁ ASSOCIATE PROFESSOR kastakova@euba.sk FOR BOTH AUTHORS: FACULTY OF COMMERCE UNIVERSITY OF ECONOMICS IN BRATISLAVA DEPARTMENT OF INTERNATIONAL BUSINESS BRATISLAVA, SLOVAKIA

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ECONOMIC GROWTH PATHS IN EUROPE JANOS RECHNITZER TAMAS TOTH

ABSTRACT As an initial state we suppose that there is in Europe different economic growth paths that can be identified along two dimensions the stage and growth of ecomonic performance. We have used the econometric analysis method for classifying the national economies that has given 4 different groups called the traditional developed EU member states, the transforming new EU member states, the mediterranen and the nordic countries. Each group has the own growth path determined by the economic performance and the rate of its growth. As a second stage we have tried to explain the economic performance (indicator: gross domestic product) with different input variables and changing them in order to achieve the highest explanatory power. As a result we have received 4 different groups with 4 own regression line that are able to give a forecast about the expected GDP in case of changing input factors.

KEY WORDS: economic growth, paths, Europe, econometric analysis method, national economies.

DETAILS ABOUT AUTHORS: TAMAS TOTH PHD STUDENT tamas.toth@sze.hu PROF. DR. JANOS RECHNITZER UNIVERSITY PROFESSOR FOR BOTH AUTHORS: SZECHENYI UNIVERSITY GYOR, HUNGARY

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CROSS-BORDER MOBILITY OF COMPANIES IN EUROPEAN UNION AS THE PRECONDITION FOR SUCCESS IN BUSINESS JERNEJA PROSTOR

ABSTRACT The decision, in which Member State the company will be established or will pursue its business activity, is the subject of their establishers. The company could therefore be located in the Member State of their location or in situation, where they favour cross-border mobility and are looking for the opportunities on the markets abroad, the decision on the location would depend upon the development of business environment. Nevertheless, the regulation of each Member State, especially as regards corporate and tax law could have a decisive influence on this decision. Those questions are of great importance when the company is improving its business position through broadening its activities to another markets as well as relating to cross-border transfer of its activities to another Member State. The freedom of establishment, provided by the Treaty on the Functioning of the EU (Treaty), is a suitable legal basis for effective cross-border corporate restructuring of companies in EU. There are some possible methods to exercise this freedom, specially regulated with secondary acts, like cross-border mergers and the establishment and economic operation in the legal form of Societas Europaea, whereas the cross-border transfer of the company (its seat) shall be in the light of the case law of The Court of Justice of the EU admitted on the basis of the Treaty. Companies therefore in their intention for cross-border mobility do not need to reconstruct by using the general provisions of the establishing and liquidation of the company and through the way of singular succession. There are possibilities, regulated on the EU level, through which companies shall emigrate or spread their business activities to other Member States much simpler and with less costs on the basis of universal succession. The regulation of procedures and the advantages of the mentioned reconstruction methods will be analysed in presentation.

KEY WORDS: freedom of establishment, corporate restructuring, cross-border mergers, Societas Europea, cross-border transfer of the seat.

DETAILS ABOUT AUTHORS: JERNEJA PROSTOR ASSISTANT UNIVERSITY OF MARIBOR FACULTY OF LAW MLADINSKA ULICA 9, SI-2000 MARIBOR, SLOVENIA jerneja.prostor@um.si

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MINIMUM WAGES AND YOUTH EMPLOYMENT IN THE EUROPEAN UNION SUZANA LAPORŠEK

ABSTRACT The purpose of this paper is to analyze minimum wage systems in the EU and to estimate minimum wage effects on youth employment in the European Union. The analysis of minimum wage systems across EU Member States is based on the overview of literature and descriptive statistics. To estimate the minimum wage effects on employment of youth between 15 and 24 years of age, paper uses panel regression method with fixed effects. The panel regression analysis includes data for 18 EU Member States with statutory minimum wage for the period 1996–2011. The study finds a negative, statistically significant association between minimum wage and employment rate of young workers. The association remains negative and statistically significant also when controlling for other labor market institutions.

KEY WORDS: minimum wage, youth employment, labor market, economic policy, European Union.

DETAILS ABOUT AUTHOR: SUZANA LAPORŠEK UNIVERSITY OF PRIMORSKA FACULTY OF MANAGEMENT CANKARJEVA 5, P.P. 345, 6104 KOPER, SLOVENIA suzana.laporsek@fm-kp.si

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HOW DID THE BULGARIAN BANKING SYSTEM COPE WITH THE GLOBAL FINANCIAL CRISIS DURING 2008-2012? A PANEL STUDY DIDAR ERDINÇ

ABSTRACT The onset of the global financial crisis in late 2008 sent shock waves throughout emerging Europe, particularly Central and East European countries (CEECs) that experienced rapid yet unsustainable credit growth, financed through foreign dominated banking sectors during 2002–2008. In a similar state, Bulgarian banking sector remained vulnerable to a crisisinduced banking distress, and a credit crunch, reversing the previous trend of a credit boom.

Amid a quickly unfolding global financial crisis, overexposed in risky credit financed through its Western European parents, most Bulgarian subsidiary banks experienced a surge in non-performing loans, liquidity shortages, and were shunned from access to wholesale borrowing markets during 2008-2010. Some weak banks were downgraded due to concerns over their insolvency and capital deficiency. A credit crunch ensued and preceded a recession induced drop in credit demand, complicating monetary policy options in a currency board environment.

Based on a panel data analysis of thirty Bulgarian banks over the period 1999–2010, I assess the extent of the credit crunch and banking distress based on the empirical specifications of loan supply and various indicators of banking distress. I employ a dynamic panel analysis based on the generalized method of moments approach and find evidence that several indicators of banking fragility contributed to a crisis-induced credit crunch and raised the probability of banking distress since the advent of the crisis in 2008. Conservative supervision by the Bulgarian National Bank and its monetary policy response while maintaining a stable currency board served as a bulwark against potential banking failures and ensured financial and macroeconomic stability so far without resorting to International Monetary Fund funding.

KEY WORDS: banking distress, credit crunch, transitional banking, panel data, GMM. DETAILS ABOUT AUTHOR: DIDAR ERDINÇ ASSOCIATE PROFESSOR OF ECONOMICS AMERICAN UNIVERSITY IN BULGARIA BLAGOEVGRAD, BULGARIA didar@aubg.bg

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NEW ECONOMY VERSUS OLD ONE, ALTERNATIVE INTERPRETATION RADISLAV JOVOVIC SANDA SENIĆ

ABSTRACT In this paper, we decided to take a closer look at the relationship among old and new economy.

The economic and social reality is changing and becoming more complex very quickly.

Those changes are adding up. They establish and develop new connections between individuals, companies, organizations and states. A complexity, uncertainty and variability of the environment are the only constant components in the life of organization. Research of phenomena of new economy, has lead authors to realized a complexity of the real economic life, and need that suggest this approach, which has lead to the conclusion that modern economy is a virtual-informational game and computer magic. Additionally, new economy is dominantly global, with no bottoms or boundaries. What are the desirable directions of change driven by new economy? Authors try, and suggest alternative interpretation and establishing greater interdisciplinary approach in the future research of these issues.

KEY WORDS: economics, social sciences, new economy, interdisciplinary, economics.

DETAILS ABOUT AUTHORS: RADISLAV JOVOVIC PROFESSOR radejovovic@t-com.me SANDA SENIC POSTGRADUATES STUDENT FOR BOTH AUTHORS: MONTENEGRO BUSINESS SCHOOL “MEDITERIAN” UNIVERSITY OF PODGORICA

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THE PROBABLE FUTURE OF EU’S FINANCIAL DEVIATIONS AND THE FINANCIAL POSITION OF TURKEY IN EU’S PROCESS A. NIYAZI ÖZKER

ABSTRACT In the study, we attempt to EU’s financial future with the probable financial deviations or fragilities in the framework of candidate countries, especially like Turkey that take aim at the groundwork financial alterations as a developing country in order to constitute the associated financial ground together with the perfect member countries in EU. This phenomenon present some points connected with different financial structures, which is under debate and the concerned points make some current issues directed towards the future like the probable financial deviations. This structural reality that is attempted by these approaches and discussions bring up the other financial contradictions reality relating to financial applications integrity as well as related to the financial future of EU. The matter is to be meaningful and sharpness the whole financial relations’ future that deals with the countries’ different structural positions and ensure the more financial politics harmonious, which maintain the financial reliable position continuity in EU. Hence, the countries that want to be the perfect membership participating in EU, like Turkey, have to review and regulation criteria directed towards the entire member in the adaptations process. It appears that the financial indicators and Its’ probable evaluations is the main argument both the concerned adaptation process agreement and to give meaning to the future. Especially, the developing countries being outside of the membership in EU have generally financial fragility due to the financial points under considerations like the highly inflation rates, the loaded public deficits and the insufficient financial infrastructure. In order to resolution on the base of financial adjustments modify Turkey’s financial conditions connecting with the location in EU to suit the requirements of EU the complicated financial criteria have to be considered with each other, but comparing with the perfect member countries giving examples of financial denominations.

KEY WORDS: Financial Conditions, Adaptation Process, Financial Alterations, Financial Politics, Financial Deviations.

DETAILS ABOUT AUTHOR: A. NIYAZI ÖZKER ASSOC. PROF. DR. PUBLIC FINANCE DEPARTMENT BANDIRMA FACULTY OF ECONOMIC AND BUSINESS ADMINISTRATION BALIKESIR UNIVERSITY – 10200 \ TURKEY niyaziozker@yahoo.com

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HOW TO TEACH OKUN’S LAW USING MATHEMATICAL METHODS? PETRA MEDVEĎOVÁ MARIANA POVAŽANOVÁ

ABSTRACT The article deals with incorporating mathematical methods into teaching Macroeconomics theory in the faculties of economics. It focuses onto special part of Macroeconomics – Okun’s law. This law is named after Arthur Okun, which in 1962 reported an empirical regularity: a negative short-run relationship between unemployment and output. Since many other studies confirmed this finding, this law has become a stable part of macroeconomics textbooks.

There are existing alternative approaches to estimating it which are using different mathematical methods. The article examine some of those methods with the aim of choosing the most appropriate for the special group of students, while taking into consideration their knowledge of the concrete mathematical methods.

KEY WORDS: Okun’s law, Changes version, Gap version, Hodrick-Prescott filter.

DETAILS ABOUT AUTHORS: PETRA MEDVEĎOVÁ PROFESSOR petra.medvedova@umb.sk MARIANA POVAŽANOVÁ PROFESSOR mariana.povazanova@umb.sk FOR BOTH AUTHORS: FACULTY OF ECONOMICS MATEJ BEL UNIVERSITY BANSKÁ BYSTRICA, SLOVAKIA

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FORMATTING SYSTEMS OF EXCELLENCE TOWARDS THE AIM OF DEVELOPING THE QUALITY OF EDUCATION RENATA MARINKOVIĆ

ABSTRACT In the light of the development of the educational process, a by this the overall system, there occurs the permanent need for its advancement. Through the realization of that aim it will be contributed to the development of the contemporary society – both regional as well as global. The quality educational process also means the achievement of quality, applicable knowledge, which is said to be power. With the thought of Francis Bacon “Knowledge is power” begins the project of the modern. René Descartes joined him as the leader of the modern with his rationalistic stance “I think, therefore I am”) which opens presumptions for the later period of the postmodern. In the new times, by applying concretization of independent constructivism, creativity, independency and working on oneself, various pedagogical models open spaces to human thinking and creation and also to interactive relations indispensable for the development of pedagogical thought and work. Then we talk about the postmodern.

Readiness for quality processes can be seen in the context of formatting social competences (within the social terms), which includes educational, human potentials, strategies and structures of developing politic. What do they incline to? They aspire to the realization of the system of excellence in all fields and all levels of education. The formatting of the overall system of excellence must be accompanied quality and creative processes of managing and regulation.

KEY WORDS: competencies, creativity, quality of education, standards, strategy, structure, system of excellence, managing.

DETAILS ABOUT THE AUTHOR: RENATA MARINKOVIC PROFESSOR FACULTY OF HUMANITIES AND SOCIAL SCIENCES, UNIVERSITY OF ZAGREB ZAGREB, CROATIA rmarinko@ffzg.hr

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FORMING COMMUNITIES OF PRACTICE IN HIGHER EDUCATION: A COMPARATIVE ANALYSIS SHERYL BUCKLEY, MARIA JAKOVLJEVIC, MELANIE BUSHNEY, GRZEGORZ MAJEWSKI

ABSTRACT A Communities of Practice (CoPs) is formed when two or more individuals come together voluntarily and informally to share expertise or ideas and are passionate about a common venture. However, the specific guidance to form CoPs in higher educational institutions (HEIs) doesn’t exist. This longitudinal comparative action research study will investigate, explore, and describe ways and the feasibility to develop learning communities at higher education institutions in South Africa and Europe.

This paper aims to investigate the students’ willingness to share their range of resources, preferred forms of communications and readiness to accept tacit (knowing how) knowledge sharing in order to enrich their study methods and decision making skills. Furthermore, the aim is to explore the students’ vision of CoP joint activities and discussions in building relationships, trust and an innovative knowledge base in their field of expertise. The researchers conducted an online e-survey of 20 close-ended questions using a five-point Likert-type scale amongst part-time and full-time postgraduate and undergraduate students in three faculties at higher education institutions. The estimated size of the sample for the survey is approximately 500.

KEY WORDS: Communities of Practice, higher education, action research, knowledge sharing, online learning, survey.

DETAILS ABOUT AUTHORS: SHERYL BUCKLEY DIRECTOR, UNIVERSITY OF SOUTH AFRICA (UNISA), COLLEGE OF SCIENCE, ENGINEERING AND TECHNOLOGY, SCHOOL OF COMPUTING, SOUTH AFRICA bucklsb@unisa.ac.za MARIA JAKOVLJEVIC ASSOCIATE PROFESSOR, UNIVERSITY OF SOUTH AFRICA (UNISA), COLLEGE OF SCIENCE, ENGINEERING AND TECHNOLOGY, SCHOOL OF COMPUTING, SOUTH AFRICA jakovm@unisa.ac.za MELANIE BUSHNEY ASSOCIATE PROFESSOR, UNIVERSITY OF SOUTH AFRICA (UNISA), COLLEGE OF ECONOMICS AND MANAGEMENT SCIENCES, SCHOOL OF MANAGEMENT SCIENCES, SOUTH AFRICA mbushney@unisa.ac.za GRZEGORZ MAJEWSKI PHD, POSTDOCTORAL STUDENT SCHOOL OF COMPUTING, UNIVERSITY OF SOUTH AFRICA (UNISA) MUCKLENEUK CAMPUS, PRETORIA, SOUTH AFRICA grzegorz.majewski@gmail.com 14

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PEDAGOGY OF E-LEARNING: CASE OF MARKETING MODULE SANDRA HORVAT IRENA PANDŽA BAJS DINO GOSPIĆ

ABSTRACT Although technology plays a central role in the e-learning environment, it is important to take into account the application of pedagogical principles that will enable the effective adoption of online content by learners. Successful e-learning implementation must be based on sound pedagogical grounds during all stages of the development and content management, but also in the implementation through the students support and their evaluation. This paper is based on the assumption that it is necessary to combine and apply different strategies and methods of e-learning (i.e. presentations, demonstrations, practice and repetition, tutoring systems, games, simulations, discussion groups, different ways of interaction, modeling and collaborative work) in order to achieve high level of effective adoption of online content by learners. All aforementioned teaching methods and e-learning strategies are analyzed from the pedagogical aspect and their contribution to effective learning. Defined theoretical principles are further analyzed on the case of e-learning Marketing module implemented at Faculty of Economics and Business, University of Zagreb.

KEY WORDS: pedagogy, e-learning, marketing module, case.

DETAILS ABOUT AUTHORS: SANDRA HORVAT UNIVERSITY OF ZAGREB, FACULTY OF ECONOMICS AND BUSINESS J. F. KENNEDY SQUARE 6, 10000 ZAGREB, CROATIA shorvat@efzg.hr IRENA PANDZA BAJS UNIVERSITY OF ZAGREB, FACULTY OF ECONOMICS AND BUSINESS J. F. KENNEDY SQUARE 6, 10000 ZAGREB, CROATIA ipandza@efzg.hr DINO GOSPIĆ 1. POLJANICE 17, 10 040 ZAGREB dino.gospi04@gmail.com

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THE EFFECT OF MINDFULNESS TRAINING ON EMPLOYEES IN A DYNAMIC ORGANIZATIONAL SETTING INGUNN MYRTVEIT VEDRANA JEZ VIGGO JOHANSEN

ABSTRACT The access to information and multiple sources of communication has changed the way we work, and relate to our work day. The boundaries between work and home often disappear, increasing potentially employees’ stress level, diminishing cognitive capabilities, and splitting attention between numerous tasks. The consequences of multitasking have been widely studied, as well as individual differences. Based on other studies, mindfulness based stress reduction (MSBR) method appears to have a positive effect e.g. on attention, working memory, stress and empathy. Thus, this experiment introduces an intervention in the form of mindfulness training, which lasted for 12 weeks for all 110 employees, who are located in 13 countries world wide. In addition, employees attended a seminar per week during 10 weeks. These seminars were mainly based on positive psychology. In order to collect data three surveys were sent out (before the intervention, 12 weeks after the first seminar and 6 months later). Two specific measurements were used, which are Mindfulness Awareness Scale (MASS) and Perceived Stress Scale (PSS). Findings showed a significant increase in MAAS, and diminishing values in PSS, meaning that treatment, in the form of MBSR had an affect on the perceived stress in the firm.

KEY WORDS: mindfulness training, mindfulness based stress reduction (MSBR), perceived stress DETAILS ABOUT THE AUTHORS: INGUNN MYRTVEIT PROFESSOR BI NORWEGIAN BUSINESS SCHOOL; DEPARTMENT OF ACCOUNTING – AUDING AND LAW HANDELSHØYSKOLEN BI; 0442 OSLO; NORWAY ingunn.myrtveit@bi.no VEDRANA JEZ PHD CANDIDATE BI NORWEGIAN BUSINESS SCHOOL; DEPARTMENT OF STRATEGY AND LOGISTICS HANDELSHØYSKOLEN BI; 0442 OSLO; NORWAY vedrana.jez@bi.no VIGGO JOHANSEN COGNITIVE COACH viggo.johansen@intui.no

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DIFFUSION OF INNOVATION: ADOPTION OF INNOVATIVE TOOLS FOR COMMUNICATING AND PRESENTING INFORMATION DINKO SVETIĆ ALEN DELIĆ IVA GREGUREC

ABSTRACT Due to the fast pace industry of ICT and its market, where a product or service (or even a whole company) should be innovative, creative and distinguishable in order to survive, we are witnesses of new products and services emerging on a monthly basis. These new products or services often push older ones out of the market in a community (as did Skype with Windows Live Messenger among teenagers and students) relatively quickly, whereas others compete for the same market with an innovative approach, but still cannot truly make a mark that quickly (i.e. Prezi and Microsoft PowerPoint or Keynote for Mac). However, there are also some examples of using existing products and services for originally entirely unintended purposes. A good example of this is the usage of Facebook groups that students use to communicate with one another instead of using eLearning systems that are already specialized for that. In this paper, we summarize the theory of diffusion of innovation and investigate how students adopt new products and trends, at what rate and how does the diffusion process continue. We also provide some information as to why students adapt and adopt innovation.

KEY WORDS: innovation, diffusion of innovation, communication, presentation.

DETAILS ABOUT AUTHORS: DINKO SVETIĆ STUDENT dinko.svetic@foi.hr ALEN DELIĆ STUDENT alen.delic@foi.hr IVA GREGUREC MA, ASSISTANT iva.gregurec@foi.hr FOR ALL AUTHORS UNIVERSITY OF ZAGREB FACULTY OF ORGANIZATION AND INFORMATICS VARAŽDIN, CROATIA

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PROGRESSIVE METHODS OF TEACHING AT THE FACULTY OF COMMERCE OF THE UNIVERSITY OF ECONOMICS IN BRATISLAVA PETER DRABIK PAULINA KRNACOVA ROBERT REHAK MARIA VASILOVA

ABSTRACT The presented paper deals with the progressive methods of teaching in the conditions of the Slovak Republic. The following methods are introduced by the Faculty of Commerce of the University of Economics in Bratislava in order to create space for multidisciplinary teaching. The key share of participation with economic practice in the learning process, combined with modern and progressive methods of teaching, the significant space is created, especially for faster and better targeted application of graduates in the labour market. The main objective of these methods is to adapt the undergraduate education to the new challenges and labour market requirements. This paper is prepared in the Cross Border Cooperation Programme SR-AUT 2007-2012 in the project Cross-border in hi-tech centre, code N00092.

KEY WORDS: Interdisciplinarity, Multidisciplinary Learning, Innovation in Higher Education, Employability, Cross Border Cooperation.

DETAILS ABOUT AUTHORS: PETER DRABIK ASSISTANT PROFESSOR pr.of@euba.sk PAULINA KRNACOVA ASSISTANT PROFESSOR paulina.krnacova@euba.sk ROBERT REHAK ASSISTANT PROFESSOR robert.rehak@euba.sk MARIA VASILOVA ASSISTANT PROFESSOR maria.vasilova@euba.sk FOR ALL AUTHORS: FACULTY OF COMMERCE UNIVERSITY OF ECONOMICS IN BRATISLAVA BRATISLAVA, SLOVAKIA

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UNIVERSITY LIBRARY AS A LIVING LAB: INNOVATING WITH STUDENTS ANDREA ALESSANDRO GASPARINI ALMA LEORA CULÉN

ABSTRACT Ubiquitous and pervasive technologies are part of everyday life, including the portion of it that has something to do with the university libraries: all students use personal mobile technology and all books have embedded sensors. This paper describes three years long experience with student-lead innovation of student-oriented university library services.

Students, as library users themselves, have a potential to initiate changes in the existing practices, or offer novel technological solutions based on ubiquitous and pervasive technologies that would be easier to adopt and use for this user group. Within the project described in the paper, the library was established as a living lab for a student-lead innovation.

At this stage, the innovators are recruited among interaction design students. The approach shows very promising results, some of which are showcased in the paper.

KEY WORDS: Innovation, Service Design, Interaction Design, Library Services.

DETAILS ABOUT AUTHORS: ANDREA ALESSANDRO GASPARINI PHD RESEARCH FELLOW DEPARTEMENT OF INFORMATICS AND UNIVERISTY LIBRARY andreg@ifi.uio.no ALMA LEORA CULÉN ASSOCIATE PROFESSOR DEPARTEMENT OF INFORMATICS almira@ifi.uio.no FOR BOTH AUTHORS: UNIVERSITY OF OSLO OSLO, NORWAY

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MULTIDISCIPLINARY APPROACH BETWEEN HEALTH MANAGEMENT EDUCATION AND HEALTH POLICY ŽARKO PAVIĆ, ZORAN KALINIĆ

ABSTRACT Our development strategy of the health management education contains two interactive functions: Health Management Education System (HMES) and Health Policy Development Program (HPDP). We prepared the original undergraduate, graduate and doctoral degree proposal in the field of the health management with the three master- (Health Policy, Health Care Payment Systems and Quality Improvement Models in Health Care) and two PhD topics (Health Policy, Health Economy). Development strategy of the HMES contains of the objectives in the area of education, medical science and technology, improvement of the organization and status of the medical profession, organization and functioning of the public health and enhancement of the ethical and bioethical principles of the medical profession.

HMES is a specific education subsystem within public health sector which serves to accomplish the collaboration between health professionals and community, as well as doctors and patients. Advancement of professional collaboration, formation of teams, managerial network and research activities represent the basic components of systemic approach to work of the Department for Health Management. Personalization of the health management profession in health care system and leadership of the health managers in the decision making processes are basic goals of the HPDP. Key point factors of our action plan monitoring are the time, human resources, material resources and expenses required for realization of HMES and HPDP. The implementation of this strategy implies the control and evaluation of success of accomplished goals and development guidelines. To overcome the problems the following actions are needed: to design more effective and transparent health systems, to adjust the new standards and norms, to implement new technologies, to build a health management expert network for support of strategy, to improve the effectiveness of communication, to institute the rational access to resources and to define the better system of stimulation. Fundamental mission of the HMES and HPDP in preserving the dignity of medical profession may be completed only through management of the long-term visions of the common European health care system development strategy with clear political and financial support, legality of procedure and socio-cultural consensus.

KEY WORDS: health management, education, health policy, development strategy, professional collaboration, expert network.

DETAILS ABOUT AUTHORS: PAVIĆ ŽARKO MD, PHD, FULL TIME PROFESSOR, RECTOR OF THE UNIVERSITY zarkopavic@yahoo.com KALINIĆ ZORAN PHD, FULL TIME PROFESSOR, ADVISORY BOARD PRESIDENT kaliniczoran@gmail.com FOR BOTH AUTHORS: INDEPENDENT UNIVERSITY BANJA LUKA, BANJA LUKA, BOSNIA AND HERZEGOVINA 22

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CONTROLLING AND QUALITY MANAGEMENT SYSTEM AS SME SUCCESSFUL BUSINESS PERFORMANCE FACTORS DEŠA RATHMAN KATARINA VAREZ

ABSTRACT Research on the successful performance of small and medium-sized enterprises, reports on the success of their business as well as regulatory acts related to small and mediumsized enterprises show that in the analysis and presenting of data and recommendations it is emphasized that business success depends greatly on the efficiency of the management system. Controlling and quality management are indispensable processes in making business decisions, therefore the assumption that there is a strong correlation between their synergy action and business performance.

Value-oriented management concept has derived from modern dynamic and globalized business environment and the requirements that it imposes. Such management aims at long-term financial stability, market positioning and continuous improvement of the level of competitiveness, taking into account the parameters of sustainable development. In order for the principles of continuous improvement to be considered in practice, it is necessary to dispose of a well-organized system of business management.Controlling and quality management system are control subsystems that emphasize value-oriented management concept. These two control processes are complementary and if they are properly positioned in the enterprise, they may result in significant positive synergy. These functions are in small and medium-sized enterprises, although important, often neglected, primarily due to the wrong perception of the management regarding their purpose and contents. This is especially important if taken into account that about 95 percent of business activities are carried out in this business sector.

KEY WORDS: controlling, quality management system, SMEs, business efficiency, valueoriented management concept, management process.

DETAILS ABOUT AUTHOR: DEŠA RATHMAN, M.SC. PLOČE PORT AUTHORITY desa@port-authority-ploce.hr KATARINA VAREZ, M.SC. DUBROVNIK PORT AUTHORITY dpa.katarina@portdubrovnik.hr

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COMBINATION OF PROCESS MANAGEMENT AND SIX SIGMA METHODOLOGY IN THE ECONOMY OF VOJVODINA ZORAN CIRIC, IVANA CIRIC, JELENA BIROVLJEV

ABSTRACT Business Process Management hasn’t methods for removing steps in processes which are identified in analysis as inefficient or ineffective. Tools and techniques from Six Sigma are borrowed for those tasks. Truly optimized business process initiatives start with a strong process improvement methodology, to design or re-engineer a process for eliminating, perhaps greatly reducing, steps that cause the greatest number of errors or represent the highest cost for the enterprise. The ultimate goal is to develop a process improvement solution that aligns the proven methodology of Six Sigma with the firm’s strategic goals. Six Sigma methodology is focused on defining, measuring, analyzing, improving, and controlling business processes. Six Sigma provides a tool-set to make and sustain improvements to business processes. When Business Process Management and Six Sigma are used in combination, they provide the basis for improved performance and growth, as well as a truly customer focused enterprise. Process Management tools, and the problem solving methodology of Six Sigma, have come together to increase the efficiency, effectiveness, and ongoing control of a process to levels of performance.

This paper will attempt to provide answers and defining tasks: • How Six Sigma-based process improvement initiatives can be used on processes across the enterprise, not just manufacturing processes.

• How Six Sigma and BPM combined offer one of the most powerful process improvement solutions possible.

• Defining steps delineated below to integrate BPM and Six Sigma.

• Defining the tasks for managers in Vojvodina in the future. Some of those tasks could be for example: identifying the processes from beginning till the end, give a picture about the process approach in the economy of Vojvodina, application of business concepts, apply some of the instruments of analysis, in the second phase or at the second level of business process management maturity.

KEY WORDS: Business Process Management, Six Sigma Methodology, Process Improvement.

DETAILS ABOUT AUTHORS: ZORAN CIRIC, PROFESSOR FACULTY OF ECONOMICS, UNIVERSITY OF NOVI SAD, SUBOTICA, SERBIA czoran@ef.uns.ac.rs IVANA CIRIC, PhD STUDENT ECONOMIC HIGH SCHOOL, SUBOTICA, SERBIA civana87@hotmail.com JELENA BIROVLJEV, PROFESSOR FACULTY OF ECONOMICS, UNIVERSITY OF NOVI SAD, SUBOTICA, SERBIA otilijas@ef.uns.ac.rs 24

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QUALITY CONTROL IMPROVEMENT USING THE SIX SIGMA METHODOLOGY ZORAN STANKO, ROBERT OBRAZ, MIRNA VARLANDY SUPEK

ABSTRACT Quality control is central to any manufacturing company. From the manufacturer’s point of view, quality is related to technological design and the making of the finished product the purpose of which is to meet the consumer’s needs. From the consumer’s perspective, quality is often related to value, usefulness, price or the time within which a product or service can be supplied. Each quality control process can be improved in the course of time in order to enhance its quality as well.

In the global market, with all the uncertainties and fierce competition, companies need to change and adjust their business strategies very fast in order to meet the customers’ preferences. Faced with educated customers and new competitors, manufacturing companies have to continuously consider their methods of production and change them if they want to make sure they will survive in the market. A very efficient way to continuously improve business processes is the application of the Six Sigma methodology. The Six Sigma methodology is a business strategy as well as a quality control methodology, which represents the application of formalized systems with the purpose of achieving maximum customer satisfaction at minimum total cost.

This paper is based on the hypothesis that the application of the Six Sigma methodology can improve the existing quality of finished products and reduce quality control costs. The hypothesis has been tested in a company competing in the highly competitive global market for motor vehicle spare parts. Due to the application of the DMADV approach, the brake discs manufacturer managed to accelerate the process of final control of finished products by 35%, and reduce quality control costs by 50%. The entire quality control process was analysed using the project approach, and in five stages of the DMADV approach a new automated plant for quality control of finished products was designed and set up. Control automation has removed the need for manual labour, and productivity has risen by 48%.

The new quality control process is resistant to internal variability and is to a high degree tied to consumers’ demands.

KEY WORDS: quality control, the Six Sigma methodology, quality costs.

DETAILS ABOUT AUTHORS: ZORAN STANKO, MS, SENIOR LECTURER LIBERTAS BUSINESS SCHOOL ZAGREB, ZAGREB, CROATIA zstanko@utilus.hr ROBERT OBRAZ, UNIV.SPEC.OEC, MBA, QA MANAGER KLIMAOPREMA D.D., SAMOBOR, CROATIA robert.obraz@zg.t-com.hr MIRNA VARLANDY SUPEK, BA, LECTURER VERN’ UNIVERSITY OF APPLIED SCIENCES, ZAGREB, CROATIA mirna.varlandy-supek@vern.hr

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RISK ATTITUDE ASSESSMENT STUDY: CROATIAN CASE JOSIP KERETA KATARINA LUKETA MIRNA VARLANDY SUPEK

ABSTRACT Contemporary business conditions are characterised by the dynamics and complexity of the environment and increasing company differentiation. Such conditions impede the transparency of future events and increase uncertainty in every segment of business operation. As a result, the target function of the company, i.e. enhancing the company’s worth, is increasingly exposed to various forms of risk. This is why the issue of risk management is getting more and more attention. The fundamental problem of any form of management, including risk management, is creating appropriate circumstances, which assumes that there is a high level of correspondence between required and available information and knowledge. This requirement suggests that risk management conditions result from the relationship between the risk as the object and the decision maker/manager as the subject of risk management. The attitude to risks assumes knowledge, understanding and application of appropriate procedures for spotting and recognizing risk.

Attitude to risks can be measured and assessed indirectly, by measuring and assessing the level of current and relative success of the company’s operation, and directly, by measuring and assessing the knowledge and application of appropriate risk management procedures.

In this study we have applied the following methods: survey, mathematical and statistical methods as well as methods of researching and studying available literature including analysis, synthesis, deduction and induction. We have also used theoretical and practical experience of developed western countries that countries in transition, including Croatia, should lean on in their future economic development. The results of the study conducted in a company operating in the real sector confirm that it is possible to measure and assess the attitude to risks both indirectly and directly, and that there is correlation between these two types of assessment. If managers recognize risks and are familiar with the risk management process, this will lead to successful company operation and vice versa, lack of knowledge and failure to manage risk will lead to inadequate business results.

KEY WORD: Risk management, Risk attitude assessment, Risk management process.

DETAILS ABOUT AUTHORS: M.SC. JOSIP KERETA TRIGLAV OSIGURANJE D.D., ZAGREB josip.kereta@triglav-osiguranje.hr KATARINA LUKETA, MF UNIVERSITY OF APPLIED SCIENCES VERN’ – ZAGREB katarina.luketa@vern.hr MIRNA VARLANDY SUPEK, B.A. UNIVERSITY OF APPLIED SCIENCES VERN’ – ZAGREB mirna.varlandy-supek@vern.hr

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KNOWLEDGE MANAGEMENT IN KNOWLEDGE SERVICE NETWORKS DAGMAR LESAKOVA

ABSTRACT Complexity of knowledge services in business requires involvement of various competencies.

Hence, many services are offered nowadays by networks. As a consequence, individual firms can concentrate on their distinctive competencies and by combining them with the distinctive competencies of partner firms, such a network is able to offer complex knowledge services of high quality and with acceptable prices. The success of such a network depends mainly on the effective and efficient combination and use of the distinctive competencies of the network partners. The ability to combine and to employ distinctive competencies represents the core competency of the network as a whole and can be seen as a management task in knowledge sharing.

Engaging in a network brings certain problems with it, especially the leakage of knowledge that can ultimately erode the network´s core competency. Such a threat can be faced by clearly identifying the phases of the service production process and developing solutions to the particular problems during each phase. The objective of our paper is to indicate the problems evolving in the process of knowledge generation, knowledge transferring, knowledge storage and knowledge adaptation in knowledge service networks.

Recommendations on how to reduce and eliminate problems arising among partners in the network have been developed in the personal, technological, organizational and cultural aspects. The research was conducted in the framework of the project VEGA 1/0612/12.

KEY WORDS: knowledge services, knowledge management, knowledge service network, distinctive competence.

DETAILS ABOUT AUTHOR: DAGMAR LESAKOVA PROFESSOR UNIVERSITY OF ECONOMICS BRATISLAVA, DEPARTMENT OF MARKETING BRATISLAVA, SLOVAK REPUBLIK dagmar.lesakova@euba.sk

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VALUES ORIENTATION IN LOGISTICS MANAGEMENT IN RUSSIA AND THE UKRAINE AND ITS IMPACT ON CORPORATE PERFORMANCE SAMO O. KOTNIK, ELMAR W. M. FÜRST

ABSTRACT During the last decades, transition economies went through rough times. In many ways former “stars” among companies became either “poor dogs” or just “cash cows” lacking visions for further development. Short-term profit maximization was in the focus rather than sustainable management as most public or private investors solely aimed at maximum earnings per share instead of stability and long-term survival of the firm. In such environments, new business models and approaches are vital to maintain the pace of development and assure stability or further growth and to avoid distortions. A company’s performance depends on the managers’ attitudes and leadership style as well as the values reflected in the managers’ actions and in corporate culture. The way this commitment is “transferred” to all management levels and communicated to employees is important in terms of long term sustainability. Building upon this evidence we address the question, whether corporate logistics can be a moderator as it ensures correct and on-time deliveries and therefore strongly influences customer satisfaction which is the primary source for sustainable corporate success. We therefore investigate, how management values influence logistics and logistics performance and how it can contribute to overall corporate performance? Our study focuses on the current perception of management values in Russia and Ukraine producing companies operating in both the B2B and B2C sectors.

A particular focus is put on the companies’ transport and logistics functions in order to investigate their role within the functional chain of a company and its interrelationship with management values and the overall performance of the company. Using an online questionnaire based on the “Values Theory” by Shalom H. Schwartz a random survey has been conducted including questions on company performance, logistics management, corporate innovation and the competitive situation. Furthermore, several interviews were performed to strengthen and complement the respective findings. Parts of this study can be considered as replication of studies conducted in other settings and environments which helps to broaden evidence and to develop general models and theories. The results have strong impacts on both management theory and practice as the evidence gained can be incorporated into existing models and theories of the firm and improve management decisions in companies.

KEY WORDS: values; logistics management, performance, Russia, Ukraine.

DETAILS ABOUT AUTHORS: SAMO O. KOTNIK, RESEARCH ASSOCIATE WU VIENNA, INSTITUTE FOR TRANSPORT AND LOGISTICS MANAGEMENT NORDBERGSTRASSE 15, 1090 VIENNA, AUSTRIA samo.kotnik@wu.ac.at CLUSTER DIVISION MANAGER HEALTHCARE RUSSIA & CIS AND UKRAINE ECOLAB GMBH, ERDBERGSTRASSE 29,1030 VIENNA, AUSTRIA samo.kotnik@ecolab.com ELMAR W.M. FÜRST, ASSISTANT PROFESSOR WU VIENNA, INSTITUTE FOR TRANSPORT AND LOGISTICS MANAGEMENT NORDBERGSTRASSE 15, 1090 VIENNA, AUSTRIA elmar.fuerst@wu.ac.at 28

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SYSTEMS CONCEPT OF EXPERIENCE IN TOURISM ROMANA LEKIĆ MARTINA MAJIĆ NATAŠA MANCE

ABSTRACT Customers and tourists searching fulfillment of psychological and emotional desires nowadays have an enormous freedom of choice. As a result, it is difficult to catch the eye of the consumer. New methods of communication are needed to attract and create longlasting relations with individuals and target groups. In a world where people are increasingly driven by self-expression, rather than survival-related values, we need a novel way of engineering. We need Imagineering, engineering for imagination, to realize the challenges of the experience economy. Imagineering is about managing relations with the customer, based on an integral experiential concept that affects ‘fans’ in the heart; it is about experiences at all contact moments with the guest; it is about using experiences that can permanently reach, touch, affect, and fascinate the guest.

Imagineering has three elements: story, vision, and guidance. Imagineering combines story and vision, infusing them with guidance that gives people what they need to make the story a reality - motivation and rationale, role models, compelling drama, realistic situations, appropriate value struggles, all necessary instructions and precautions, to help their beloved product of imagination blossom in the world around it. In this paper Imagineering will be presented as a model for a powerful solution for tourist destinations to create long-lasting emotional bonds with individual guests. The objective of this paper is to explain how to create an experience-based systems concept to attract new tourists and to create memorable experiences with consumers.

KEY WORDS: communication, experience economy, Imagineering, integral experiential concept, tourist destination.

DETAILS ABOUT AUTHORS ROMANA LEKIĆ, PHD HEAD OF TOURISM DEPARTMENT romana.lekic@vern.hr MARTINA MAJIĆ, PROF. CHAIR OF TOURISM STUDIES martina.majic@vern.hr NATAŠA MANCE, M.A. LECTURER - TOURISM STUDIES natasamance@hotmail.com FOR ALL AUTHORS: VERN’ UNIVERSITY OF APPLIED SCIENCES ZAGREB, CROATIA

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GENDER AS A SIGNIFICANT BUT PROHIBITED RISK FACTOR IN LIFE INSURANCE JANA ŠPIRKOVÁ MÁRIA SPIŠIAKOVÁ

ABSTRACT There are significant differences between females and males in their accident risk and mortality risk. The costs of providing insurance products that cover these risks, including motor insurance, private medical insurance, life insurance and pension annuities, differ between men and women. Gender is used in addition to, and in combination with other risk factors and, for some products, gender is, after age, the second most important risk factor.

This paper brings analysis of the ban of the use of gender as of a risk factor in life insurance, with special stress on premiums for life insurance and pension annuities, according to the requirements of the European Court of Justice. Premiums and annuities are modeled by life tables for both genders and unisex in the conditions of the Slovak Republic.

KEY WORDS: Risk Factor, Gender, Entry Age, Interest Rate, Life Expectancy.

DETAILS ABOUT AUTHORS: JANA ŠPIRKOVÁ PROFESSOR FACULTY OF ECONOMICS, MATEJ BEL UNIVERSITY BANSKÁ BYSTRICA, SLOVAKIA jana.spirkova@umb.sk MÁRIA SPIŠIAKOVÁ PROFESSOR FACULTY OF ECONOMICS, MATEJ BEL UNIVERSITY BANSKÁ BYSTRICA, SLOVAKIA maria.spisiakova@umb.sk

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ECONOMIC AND PSYCHOLOGICAL APPROACH TO THE STUDY OF HUMAN RATIONALITY ALEKSANDAR MOJAŠEVIĆ

ABSTRACT In this paper, the author analyzes the assumption of human rationality from the perspective of the neoclassical economic theory and the behavioral economics theory, with specific reference to the rationality of litigants. In particular, the author focuses on exploring whether the assumption of human rational behavior, which has been used for developing the standard models of neoclassical economic theory, is realistic, and whether the findings stemming from these models are accurate and reliable. Seeking answers to these questions, the author focuses on the empirical findings of Behavioral Economics, a new theory developed primarily by cognitive psychologists. The comparison of these two theories has opened new perspectives in understanding human rationality and raised the issue of future development of Economics, as a science of rational economic choice, and the Economic Analysis of Law, as a discipline that uses economic methodology to study certain legal phenomena, such as rational behavior of litigants. Hence, the author discusses whether the impact of psychological research leads to redefining the methodology of neoclassical economics and the standard economic analysis of law.

KEY WORDS: psychology, economics, law, rationality, litigants.

DETAILS ABOUT AUTHOR: DOC. DR ALEKSANDAR MOJAŠEVIĆ ASSISTANT PROFESSOR UNIVERSITY OF NIŠ, FACULTY OF LAW NIŠ, SERBIA mojasevic@prafak.ni.ac.rs

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INTERGENERATIONAL CONNECTEDNESS AND SOLIDARITY MAJA MEŠKO ZLATKA MEŠKO ŠTOK

ABSTRACT Population ageing has become a characteristic feature of demographic development in the world and require a new solidarity between generations. The aim of the study is to review the current situation of intergenerational connectedness and suggest activities that could bring together different generations. The questionnaires were designed for young and old people separately. The Questionnaires were distributed to seniors and young people in Slovenia. The data were processed with the Microsoft Excel 2007 and SPSS 19.0. Descriptive statistics and ANOVA was applied as a method. We found out that there is a positive groups’ attitude toward each other, but seniors and young people are looking for more intergenerational activities.

Recommendations for establishing a good intergenerational cooperation or improving the existing one were framed.

KEY WORDS: Intergenerational relationships, Intergenerational connectedness, Intergenerational solidarity.

DETAILS ABOUT AUTHORS: MAJA MEŠKO ASSISTANT PROFESSOR maja.mesko@fm-kp.si ZLATKA MEŠKO ŠTOK ASSISTANT PROFESSOR zlatka.stok@fm-kp.si FOR BOTH AUTHORS: FACULTY OF MANAGEMENT UNIVERSITY OF PRIMORSKA KOPER, SLOVENIA

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PRIVACY ISSUES OF SOCIAL MEDIA: A MARKETING PERSPECTIVE CĂLIN VEGHEŞ MIHAI ORZAN CARMEN ACATRINEI DIANA DUGULAN

ABSTRACT We live in an everchanging environment where new technologies and new techniques arrive constantly, some of them significantly impacting social behavior and, indirectly leading to paradigm shifts in economic approaches. Online social networks are becoming increasing presences in consumers’ habits and many of them base their opinions on information found online. As a result, companies need to include them in their branding and marketing research efforts. However, in many cases customers are less than thrilled when companies follow them in a web space that they perceive as private and personal. In this paper we present the opinions of Romanian consumers through the results of an exploratory study regarding the importance given to the protection of their personal space and information on the social networking websites they access. The results of the research show that as the time spent weekly on the social networking sites increases, members are more likely to offer their personal information to companies and they are more willing to be contacted with media messages online.

KEY WORDS: privacy issues, social media, marketing perspective.

DETAILS ABOUT AUTHORS: CĂLIN VEGHEŞ ASSOCIATE PROFESSOR c_veghes@yahoo.com MIHAI ORZAN ASSISTANT PROFESSOR mihai.orzan@ase.ro CARMEN ACATRINEI ASSISTANT PROFESSOR carmen.acatrinei@gmail.com DIANA DUGULAN TEACHING ASSISTANT diana.dugulan@yahoo.com FOR ALL AUTHORS: ECONOMIC STUDIES UNIVERSITY OF BUCHAREST FACULTY OF MARKETING

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HUMAN CAPITAL AND LABOUR MARKET: THE CASE OF THE VISEGRAD GROUP COUNTRIES SILVIE CHUDÁRKOVÁ

ABSTRACT The positive impact of education, which is the main component of human capital, on productivity of individuals and the country’s economic growth economists has already been emphasized by economists of the classical political economy. Considerations of whether better knowledge, skills and abilities of individuals have some influence on their employment on labour market, respectively on the amount of their earnings, have been the subject of scientific investigation of many economists. The idea that education is a form of investment that brings an individual income in the form of higher wages, was not foreign nor Adam Smith. However, a comprehensive theory of human capital was formed in the Sixties of the 20th century. Mainly T.W. Shultz, G.S. Becker, J. Mincer and more contributed to her development significantly. Empirical findings did not confirm any assumptions that this theory recognized, and so over time, new theories have been created that either complementary adapted to new findings, or criticized the old theory. None of them, however, refused the positive relationship between the formal qualification, education and level of income. Only the reasons that this relationship confirmed have changed. Some economic studies therefore confirm that people with higher education and qualification achieve higher average earnings than people with lower education. Unemployment rate among people with higher education is lower than the rate of unemployment among people with lower achieved education. The paper will examine the relationship between levels of human capital and selected economic variables in the Czech Republic, respectively in the countries of the Visegrad Group.

KEY WORDS: Economic Growth, Education, Human Capital, Relative Earnings, Unemployment.

DETAILS ABOUT AUTHOR: SILVIE CHUDÁRKOVÁ Ph.D. STUDENT SILESIAN UNIVERSITY IN OPAVA SCHOOL OF BUSINESS ADMINISTRATION IN KARVINÁ DEPARTMENT OF ECONOMICS KARVINÁ, CZECH REPUBLIC chudarkova@opf.slu.cz

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ESTIMATION OF UNPAID WORK VALUE IN THE SLOVAK HOUSEHOLDS ALENA KAŠČÁKOVÁ ĽUBA KUBIŠOVÁ GABRIELA NEDELOVÁ

ABSTRACT The aim of the contribution is to describe possibilities of the unpaid work value estimation in households in Slovakia. For the computation the method of time mapping of individuals´ activities within households is used. As the National Statistical Office in Slovakia does not collect this type of data, the relevant data were gathered by primary research. Processed data from the preliminary research were divided into groups according to the number of household members. Each activity was assigned by the average gross nominal monthly wage based on the employment category in the national economy. After recalculating the unpaid work values in the groups of households and their weighing it was possible to establish the value of unpaid work in Slovak households as well as its share on the GDP. The finally results of the years 2011 and 2012 were compared.

KEY WORDS: households, unpaid work, Time Use Survey, input method.

DETAILS ABOUT AUTHORS: ALENA KAŠČÁKOVÁ ING. PHD., DEPARTMENT OF QUANTITATIVE METHODS AND INFORMATICS alena.kascakova@umb.sk ĽUBA KUBIŠOVÁ MGR., DEPARTMENT OF FOREIGN LANGUAGES luba.kubisova@umb.sk GABRIELA NEDELOVÁ RNDR., PHD., DEPARTMENT OF QUANTITATIVE METHODS AND INFORMATICS BANSKÁ BYSTRICA, SLOVAKIA gabriela.nedelova@umb.sk FOR ALL AUTHORS: EKONOMICKÁ FAKULTA UNIVERZITA MATEJA BELA BANSKÁ BYSTRICA, SLOVAKIA

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FDI AND REGIONAL CLUSTERS IN CEE-ECONOMIES: EXPERIENCE, RESULTS AND LESSONS - A VIEW FROM GERMANY HARALD ZSCHIEDRICH

ABSTRACT FDI and Regional Clusters became a controversial topic in international discussions. Over the last 20 years a radical change of factors determining FDI to CEE-countries took place.

FDI tend to be fairly concentrated geographically within CEE-Economies. Thus international competition is no longer between national economies as whole but more between strongly networked nations; so called Regional Clusters. Taking in consideration this background the article will deal with the following main research questions: (1) Why Regional Clusters do attract above all more “efficient seeking” FDI? (2) Does the form of FDI (“Greenfield” or M§A) matter concerning the results/effects of FDI in CEE-Economies? (3) Is there any influence of host country culture on the location choices of foreign firms in CEE? The paper should demonstrate that the main areas for FDI are identical with those of cluster development. However in the majority of cases Clusters increased even regional disparities within national economies. (for ex.: Hungary) It can be summarized that those regions with clustering attracted more FDI. [Stronger local networks providing parts and services, short distance to supplies, close cooperation-contacts within the clusters etc.]. A great influence on the economic benefit of FDI flows has the choice of FDI form between “Greenfield” or “M§A”. The article will show, if “Greenfield” or M§A are really alternatives. Experience has shown that both FDI-forms are really no substitute for each other. Evaluating both FDI-forms we came to the conclusion – on the basis of German firms activities in CEE – that Greenfield Investment has brought more than a change in ownership (typically for M§A). German FDI to CEE increased above all the exports of CEE-Economies and the international competiveness of local suppliers. (See: VW/Skoda, Mercedes and Audi in Hungary, NiveaBeiersdorf in Poland and Porsche in Slovakia etc.). The effects of “Greenfield Investment” and M§A differ from country to country. This study will show that M§A may rely on local suppliers higher local content, for example in Czech Republic relative to Greenfield Investment through affiliates in Hungary. All in all it may be concluded that foreign investors faced great and unique challenges which have changed over the last 20 years: From radical change in the transition period to Clusterbuilding and involving local CEE- firms in the global value added chains of multinational firms.

KEY WORDS: FDI, regional clusters, CEE economies, lessons, Germany.

Reference: H. Zschiedrich: “East-West firm cooperation within EU-Cross-Border Regions”, Berlin 2012(German language).

DETAILS ABOUT AUTHORS: PROF. DR. SC. HARALD ZSCHIEDRICH HTW-BERLIN (UNIVERSITY OF APPLIED SCIENCE) H.Zschiedrich@htw-berlin.de

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THE EFFECT OF EXCHANGE RATE ON ECONOMIC GROWTH SUNA KORKMAZ

ABSTRACT Since ancient times, humans have exchanged goods continuously to meet their needs. As the economy progresses, transport and communication networks develop the exchange between countries expands beyond its own borders. In a globalized World, countries are producing and exporting goods that they have an advantage over in the production power and importing goods that they need. Money has been the tool used in this trade. In this study, exchange rate systems were mentioned; by using annual data of the 2002-2011 period from nine randomly selected European countries, if there is a relationship between the exchange rate and economic growth has been tested by doing panel data analysis. As a result of the study, it has been found that there is causality from exchange rate towards economic growth for the nine European countries.

KEY WORDS: Exchange Rate, Economic Growth, Panel Data Analysis.

DETAILS ABOUT AUTHOR: ASSOCIATE PROFESSOR DR. SUNA KORKMAZ BALIKESIR UNIVERSITY BANDIRMA FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES DEPARTMENT OF ECONOMICS skorkmaz@balikesir.edu.tr

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2MS1 FRIDAY 11TH OCTOBER 10:15 – 12:30 ROOM 1

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TOURISTS’ PERCEPTION OF AUTHENTICITY IN WORLD HERITAGE HISTORIC CENTERS ODETE PAIVA JOSÉ LUÍS ABRANTES CLÁUDIA SEABRA FERNANDA CRAVIDÃO

ABSTRACT There is a clear ‘cult of authenticity’, at least in modern Western society (Assi, 2000). So, there is a need to analyze the tourist perception of authenticity, bearing in mind the destination, its attractions, motivations, cultural distance, and contact with other tourists (Kohler, 2009).

Our study seeks to investigate the relationship among cultural values, image, sense of place, perception of authenticity and behavior intentions at World Heritage Historic Centers. From a theoretical perspective, to our knowledge, no study exists with a focus on the impact of cultural values, image and sense of place on authenticity and intentions behavior in tourists.

The intention of this study is to help close this gap.

A survey was applied to collect data from tourists visiting two World Heritage Historic Centers – Guimarães in Portugal and Cordoba in Spain. Data was analyzed in order to establish a structural equation model (SEM). Discussion centers on the implications of model to theory and managerial development of tourism strategies. Recommendations for destinations managers and promoters and tourist organizations administrators are addressed.

KEY WORDS: World Heritage Historic Centers, cultural tourism, authenticity perception, cultural values, behavior intentions.

Acknowledgments: FCT, CEGOT and CI&DETS (PEst-OE/CED/UI4016/2011) DETAILS ABOUT AUTHORS: ODETE PAIVA PHD STUDENT - COIMBRA UNIVERSITY ASSISTANT - POLYTECHNIC INSTITUTE OF VISEU; PORTUGAL odetepaiva@gmail.com JOSÉ LUÍS ABRANTES POLYTECHNIC INSTITUTE OF VISEU jlabrantes@estv.ipv.pt CLÁUDIA SEABRA POLYTECHNIC INSTITUTE OF VISEU cseabra@estv.ipv.pt FERNANDACRAVIDÃO UNIVERSITY OF COIMBRA

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TOURISM AND TERRORISM: STRANGE COMPANIONS CLÁUDIA SEABRA MARIA JOSÉ NOGUEIRA ODETE PAIVA MARGARIDA VICENTE JOSÉ LUÍS ABRANTES

ABSTRACT Terrorism became an important and recurring topic in in the XXI century public discourse since in the last decades the world assisted to the growing of terrorist attacks. In its domestic and international form is practiced by revolutionary groups, being a constant in modern life (Feichtinger et al., 2001). The terrorist groups are increasingly sophisticated, dangerous and destructives.

Paradoxically, international terrorism and tourism share some characteristics. They both cross national borders, involve citizens from different countries and use the new travel and communications technologies. Terrorists often use tourism to gain publicity and support to achieve their goals. Tourists are chosen as targets for their symbolic value representing Western capitalism, consumption, and values such as wealth, freedom of choice and independence (Richter & Waugh, 1986). For terrorists, the symbolism, high profile, and news coverage brought by international tourists makes them too valuable to leave to be explored (Sonmez, Apostolopoulos, & Tarlow, 1999). This paper tries to gather research and data based on this strange link between terrorism and tourism.

KEY WORDS: Tourism, Terrorism, Safety, Risk Perception Acknowledgments: Portuguese Foundation for Science and Technology and Center for Studies in Education, Technologies and Health.

DETAILS ABOUT AUTHORS: CLÁUDIA SEABRA cseabra@estv.ipv.pt MARIA JOSÉ NOGUEIRA mjnogueira@estv.ipv.pt ODETE PAIVA odetepaiva@estv.ipv.pt MARGARIDA VICENTE margarida@estv.ipv.pt JOSÉ LUÍS ABRANTES jlabrantes@estv.ipv.pt FOR ALL AUTHORS: POLYTECHNIC INSTITUTE OF VISEU, ESC.SUP.TECNOLOGIA, CAMPUS POLITÉCNICO, 3504-510 VISEU, PORTUGAL

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MOTIVATION AND INVOLVEMENT IN INTERNATIONAL TOURISM CLÁUDIA SEABRA JOSÉ LUÍS ABRANTES MARGARIDA VICENTE CARLA SILVA

ABSTRACT Using a sample international tourists travelling in Portugal, Spain and Italy, this study identifies key issues related with tourist involvement. One of the main aspects in consumer behavior comprehension (Broderic & Mueller, 1999) and in the decision processes’ understanding is the concept of involvement (Dimanche, Havitz & Howard, 1993) because it influences the decision rules used by tourists to reach the final decision (Sirakaya & Woodside, 2005).

An empirical study of 600 international tourists reveals that motivation to relax influences tourists’ involvement with the trip. A structural model reveals that when tourists are motivated to relax they get directly more involved with their trip (pleasure and information seeking).

The motivation to relax also influences indirectly the tourist involvement with the evaluation and quality perception of the trip through its influence on involvement with the trip planning.

Discussion centers on the implications of this model to theory and managerial development of tourism and services strategies. Directions for future research are also presented.

KEY WORDS: Consumer Behavior in Tourism, Motivation, Involvement, Tourism Marketing.

Acknowledgments: Portuguese Foundation for Science and Technology and Center for Studies in Education, Technologies and Health.

DETAILS ABOUT AUTHORS: CLÁUDIA SEABRA POLYTECHNIC INSTITUTE OF VISEU CAMPUS POLITÉCNICO DE REPESES, 3504-510 VISEU, PORTUGAL cseabra@estv.ipv.pt JOSÉ LUÍS ABRANTES POLYTECHNIC INSTITUTE OF VISEU CAMPUS POLITÉCNICO DE REPESES, 3504-510 VISEU, PORTUGAL jlabrantes@estv.ipv.pt MARGARIDA VICENTE POLYT.INSTI. OF VISEU ESC.SUP.TEC., 3504-510 VISEU, PORTUGAL mvicente@estv.ipv.pt CARLA SILVA POLYT.INSTI. OF VISEU ESC.SUP.TEC., 3504-510 VISEU, PORTUGAL csilva@estv.ipv.pt

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SUSTAINABLE TOURISM FOR BETTER LIFE: REVITALIZATION OF ABANDONED VILLAGES IN CROATIAN ISLANDS SANJA ROCCO NIKO BARBIĆ

ABSTRACT Croatian islands have already been recognized as places of extraordinary natural beauty, as well as a diversity of cultural heritage. Unfortunately, most of the islands are facing the problem of continuous depopulation, resulting long-term demographic processes such as aging of population, reduced birth rates, as well as more and more abandoned homelands.

There have been different causes of this negative process, starting from the beginning of the 20th century up to these days. However, this trend could only stop by developing the islands and giving more opportunities to young population for better life conditions.

The islands situated in the south of the Adriatic, such as Brač, Hvar and Vis, have great potential for developing sustainable rural tourism on the ruins of abandoned houses and even whole villages, mostly situated in the interior of the islands. A new model of revitalization could be developed for each specific situation, using experience from similar cases in other Mediterranean countries, but adapted according to different circumstances, needs and capabilities.

This paper deals with a possibility of revitalizing the almost abandoned village of Pitve in the interior of Hvar, developing a sustainable rural tourism project for its inhabitants. The proposed model of sustainable revitalization would take special care in the redesign of old houses according to the traditional techniques, delivering at the same time all the benefits of modern life expected by the visitors. The village would not only provide accommodation but also various everyday life activities (gardening, vineyards, olives or herbs harvest, olive oil or vine production, taking care of domestic animals etc.). A research has been undertaken among the remaining inhabitants of the village, as well as the owners of the abandoned houses living nearby that were available, in order to examine their attitude towards rural tourism and their willingness to participate in the project realization.

KEY WORDS: Croatian islands, revitalization, rural tourism, sustainability, redesign Note: this paper is based on the research undertaken by Niko Barbić for his thesis at the specialist graduate professional study “Managing Sustainable Tourism Development”, the University of Applied Sciences VERN, written under the supervision of M.Sc. Sanja Rocco, defended in July 2013.

DETAILS ABOUT AUTHORS: MSC. SANJA ROCCO ZAGREB SCHOOL OF BUSINESS HEAD OF MARKETING DEPARTMENT sanja.rocco@vpsz.hr SPEC. OECC. NIKO BARBIĆ niko.barbic@yahoo.com 45

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RUNNING FOR LIFE: EXPLORING DISTANCE RUNNERS’ MOTIVATIONS AT SPORT TOURISM EVENTS FELICITE A FAIRER-WESSELS

ABSTRACT The Comrades Marathon and the Two Oceans Marathon are two major sporting events on the South African calendar with little research on the motivation and behaviour of serious leisure participants who participate in these events. Following on research by Stebbins (1982) who identified six characteristics of distance runners and further explored by Shipway and Jones (2007), these characteristics are investigated in this article in relation to the Needs Theory of Personality (Murray 1938) and Maslow’s (1954) Hierarchy of Needs within the contexts of the Comrades Marathon and the Two Oceans Marathon and the phenomenon of distance running.

A qualitative explorative study was done to understand the motivation and behaviour of serious leisure participants employing non-probability purposive sampling to select 30 respondents who had participated in the Comrades Marathon and/or the Two Oceans Marathon in at least four years’ races (including the 2010 Comrades Marathon and the 2010 Two Oceans Marathon) over the past decade. The findings indicate a strong identification with the activity, with social ethos and sub-culture influence in social identity also indicated.

This research attempted to confirm theory and link the characteristics with the Maslow’s ‘hierarchy of needs’ and Murray’s ‘list of needs’, but due to the inherent limitations of the research future investigation in the field is imperative.

KEY WORDS: marathon runners/athletes, motivation, behaviour, serious leisure participation.

DETAILS ABOUT AUTHOR: DR FELICITE A FAIRER-WESSELS (PHD) DEPT OF TOURISM MANAGEMENT UNIVERSITY OF PRETORIA ffairer-wessels@up.ac.za

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CATEGORY MANAGEMENT PLANNING: DEFINITION OF TACTICS MILAN GASOVIC DARKO VASELIC

ABSTRACT Planning of product categories is a first function of Category Management. Within this function occur six out of eight steps of Category Management. Having in mind extremely time and resource consuming process of Category Management introduction, planning phase of this process becomes so much important for successful implementation. It can be considered through next steps: Category Definition, Category Role, Potential of a Category, Category Balance Score Card, Definition of Strategy for a Category and Definition of Tactics for a Category. This structuring nature of Planning Phase significantly makes easier introduction of Category Management. Thereby, Definition of Tactics is the last planning step and the document which specifies actions that have to be undertaken in order to accomplish planned targets in a Category. Definition of tactics goes through two steps: development of general guidelines in order to develop tactical plans for bigger number of categories and development of specific action solutions for particular categories. In this way, Category Management teams become familiar with clear specific guidelines and actions for the basic elements of Tactical Plan: Assortment, Prices, Promotions, Merchandising and Refilling of Retail Shelves.

Depending of a category role, format of a retail store, competitive position of a retail company, and competitive position of suppliers in category and etc. elements of Tactical Plan can vary at higher or lower extent.

KEY WORDS: Product Categories, Tactical Plan, Assortment, Prices, Promotions, Merchandising.

DETAILS ABOUT AUTHORS: MILAN GASOVIC ASSOCIATE PROFESSOR UNIVERSITY OF NOVI SAD, FACULTY OF ECONOMICS SUBOTICA BELGRADE, REPUBLIC OF SERBIA gasovicm@ef.uns.ac.rs DARKO VASELIC BUSINESS DEVELOPMENT MANAGER FOR BOSNIA AND HERZEGOVINA, ALBANIA, MACEDONIA AND KOSOVO JOHNSON&JOHNSON COMPANY BOSNIA&HERZEGOVINA dvaselic@gmail.com

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CROATIAN T&C INDUSTRY AND STUDENTS CUSTOMER SATISFACTION WITH CLOTHING PRODUCTS PRODUCED IN DOMESTIC COMPANIES RUŽICA BREČIĆ, MAJA STRACENSKI KALAUZ, ALICA GRILEC KAURIĆ

ABSTRACT In today’s world of globalization and economic crisis threats for the manufacturing business in such competitive market is also the case in sector of fashion industry. It brings worries for the future and is growing every day, especially for small and medium enterprises (makes 98,56% of all) in clothing industry (C14) in Croatia in the year 2011. In creating an effective marketing strategy it is important to identify factors that determine demand, satisfaction and idealistically, brand loyalty. This paper examined some macroeconomic indicators of Croatian textile and clothing (T&C) industry sector and demand for clothing products trough students customer perception and behaviour about Croatian producers clothing products, their satisfaction and their brand loyalty. Data were collected by surveying student population customers of Croatian clothing products. On-line surveying students (N=311) from three faculties of University of Zagreb (Faculty of economics and businesses Zagreb, Faculty of Agriculture and Faculty of Textile Technology at University of Zagreb) showed that the most of them do buy Croatian clothing products. Products quality showed to be an important factor in their purchase. Other important factors are price, fashion trends, brand image and companies’ image. Furthermore, consumers are very pleased with products quality, but discontented with price, promotion and availability of products. There are a large number of customers that are not loyal to Croatian brands. Results show that Croatian clothing companies don’t have clearly developed marketing strategy and should pay more attention to developing long-term relationships with their customers, researching reasons for their loyalty and developing loyalty programs. All customers agreed about buying more Croatian clothing products in case of better and more modern design, lower price, bigger promotion and wider distribution. The scientific contribution of this paper are new insights and better understanding of the demand for clothing products in Republic of Croatia, as well as the specifics required to build a competitive marketing strategy.

KEY WORDS: Croatian textile and clothing (T&C) industry sector, small and medium enterprises, costumer perception and demand, domestic clothing market, satisfaction and loyalty, marketing strategies, students population.

DETAILS ABOUT AUTHORS: RUŽICA BREČIĆ, ASSISTANT PROFESSOR UNIVERSITY OF ZAGREB, FACULTY OF ECONOMICS AND BUSINESS rbutigan@efzg.hr MAJA STRACENSKI KALAUZ, ASSISTANT UNIVERSITY OF ZAGREB, FACULTY OF AGRICULTURE mskalaz@agr.hr ALICA GRILEC KAURIĆ, ASSISTANT UNIVERSITY OF ZAGREB, FACULTY OF TEXTILE TECHNOLOGY alica.grilec@ttf.hr 48

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CHARACTERISTICS OF BENEFICIARIES SERVED

BY NONPROFIT ORGANIZATIONS IN ALBANIA XHILIOLA AGARAJ (SHEHU)

ABSTRACT In the profit sector main objective of all firms operating in the market is profit maximization.

While in the non profit sector organizations objective is not profit maximization but the service of society in various fields in which they operate in the field of environment, in the social field in the area of rights protection etc.

The purpose of this paper is to provide information about the characteristics of beneficiaries served by non-profit sector in relation with their type, age group served, gender, criteria that affect beneficiaries to provide a service, the time it takes a beneficiary to match the service offered by non-profit organizations operating in Albania. Descriptive information of the beneficiaries will be provided regarding the type of nonprofit organizations operating in Albania and their location. Another objective of this paper is the identification of the marketing techniques used by non-profit organizations to attract beneficiaries.

In function of the number of non-profit organizations that are active in Albania is taken in the study a representative selection. Techniques used for data collection were questionnaires, and interpretation of the results was made based on focus group discussions.

KEY WORDS: Beneficiaries, nonprofit sector, marketing tools.

DETAILS ABOUT AUTHOR: DR. XHILIOLA AGARAJ (SHEHU) PROFESSOR OF MARKETING UNIVERSITY OF VLORA FACULTY OF ECONOMY VLORE, ALBANIA xhiliagaraj@yahoo.com

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SUSTAINABLE REAL ESTATE INVESTMENT PORTFOLIO MANAGEMENT – PROBLEMS AND SOLUTIONS JORDANKA JOVKOVA

ABSTRACT Management of Real Estate Investment Portfolio is the subject of the paper. The analyzed Portfolios and Investors are selected according to specific criteria. The analysis is focused on the caracterization “sustainable investment”. Several major problems are formulated based on the results of the anlysis. At the end of the paper are indicated alternatives to overcome them.

KEY WORDS: Management, Investment, Portfolio.

DETAILS ABOUT AUTHORS: JORDANKA JOVKOVA PROFESSOR, PHD DEAN OF BUSINESS FACULTY UNIVESITY OF NATIONAL AND WORLD ECONOMY SOFIA, BULGARIA jjovkova@abv.bg jovkovaj@unwe.acad.bg

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“EASY-TO-READ” INFORMATION IN PUBLIC TRANSPORT - ITS PERCEPTION, IMPACT AND APPLICATION CHRISTIAN VOGELAUER, ELMAR W.M. FÜRST

ABSTRACT Text-based notices, bulletins and signposts are the main source for public transport users to acquire important information for their trips. This specific type of information is present pre-trip while planning a journey (e.g. web-based route planning), on-trip on the way to the destination (e.g. Time tables, Displays, destination information) and post-trip for navigating the “last mile” (e.g. plans of the surrounding). As can be seen, the range of written and displayed information provided by public transport operators is far stretched. These texts can be presented in a short, simple and understandable manner or long, over boarding and highly complex in their structure and are therefore not accessible to persons unfamiliar with the written language. As can be imagined, not all passengers using public transport services are able to understand or decipher all of this information. This might be due to a lack of education (illiterates), mental capacity (persons with cognitive impairments) or simply due to being a foreigner in the given country (migrants and tourists). All of these groups suffer heavily from not being able to fully utilize written and displayed information. In addition the respective persons on the one hand represent important customers for public transport providers and on the other hand are legally entitled to not being excluded from public services. Furthermore it has to be mentioned that solutions enabling the persons concerned to better access the provided information also improve the accessibility for most other public transport passengers.

With the implementation of “easy-to-read” information in public transport systems most of the problems the above groups are facing could be avoided or at least reduced. However, the general awareness for even the availability of “easy-to-read” guidelines - not to mention the employment of those - is mostly non-existent among public transport providers and public authorities. The proposed article will first clarify the term “easy-to-read” in a public transport context and provide information on its importance. Building on this definition the respective target groups will be identified and their specific needs will be highlighted.

Eventually, we will derive policy implications for public authorities and guidelines for public transport providers for a more widespread implementation of “easy-to-read” solutions in public transport.

KEY WORDS: „Easy-to-read“, Impairment, Mobility, Public Transport.

DETAILS ABOUT AUTHORS: CHRISTIAN VOGELAUER RESEARCH ASSOCIATE, WU VIENNA, INSTITUTE FOR TRANSPORT AND LOGISTICS MANAGEMENT, NORDBERGSTRASSE 15, 1090 VIENNA, AUSTRIA christian.vogelauer@wu.ac.at ELMAR W.M. FÜRST ASSISTANT PROFESSOR, WU VIENNA, INSTITUTE FOR TRANSPORT AND LOGISTICS MANAGEMENT, NORDBERGSTRASSE 15, 1090 VIENNA, AUSTRIA elmar.fuerst@wu.ac.at 52

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MOBILITY BARRIERS AND SOLUTIONS IN PUBLIC TRANSPORT FOR SIGHT IMPAIRED IN RURAL AREAS - IMPACT AND APPLICATION CHRISTIAN VOGELAUER, ELMAR W.M. FÜRST

ABSTRACT Public transport, in rural, suburban and urban areas, should, as might be assumed, allow for the mobility needs of all members of society to be fulfilled. This prerequisite should hold true whether the respective person is “just” the regular commuter on her or his way to work, the child on the way to school or the student travelling to university. However each of these persons has their individual needs and possibilities in coping with the barriers imposed on them. The commuter might be physically impaired and using a wheelchair, the child might not already be able to read and the student might suffer from impaired sight. All of these persons not only have a need of using public transport services but are entitled by law to receive the same opportunities as unimpaired passengers. This unhindered access to the daily mobility provided by public transport services however is rather seldom met – particularly in rural settings. On the one hand this is due to public transport companies not having enough knowledge and awareness on the specific needs, barriers and possible solutions for impaired persons but also to a lack of resources due to the far stretched systems with relatively low numbers of passengers has to be taken into account. As can be deducted it is an absolute necessity to investigate the respective target groups separately to gather group-specific information that can then be translated into technically and economically feasible plans for convenient and barrier-free designs.

Specifically in rural areas where the provision of public transport might be quite scarce, sight impaired passengers are strongly limited in their mobility. This can be due to missing, destroyed, dirty or illegible plans and timetables at stops, non-visual guidance systems if any or simply bad weather conditions like heavy snowfall or rain which rural area stations are not equipped for. Another important factor for sight impaired in rural areas is the link between individual and public transport. The proposed article is dedicated to this topic and going to shed light on the specific circumstances that sight impaired persons face when travelling by public transport in rural areas. Thus we will discuss sight impairment and the needs of persons suffering from limited vision in detail. Then we relate the barriers imposed on sight impaired persons with the provided public transport infrastructure and vehicles in the context of rural areas. This will be illustrated by some examples of good and bad solutions.

Eventually conclusions will be draw on how to improve the rural public transport system for sight impaired and thus also for most other passengers.

KEY WORDS: Rural Areas; Sight Impairment; Mobility; Public Transport.

DETAILS ABOUT AUTHORS: CHRISTIAN VOGELAUER, RESEARCH ASSOCIATE christian.vogelauer@wu.ac.at ELMAR W.M. FÜRST, ASSISTANT PROFESSOR elmar.fuerst@wu.ac.at FOR BOTH AUTHORS: WU VIENNA, INSTITUTE FOR TRANSPORT AND LOGISTICS MANAGEMENT NORDBERGSTRASSE 15, 1090 VIENNA, AUSTRIA 53

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DRIVER QUALIFICATION IN THE TRANSPORT INDUSTRY – EMPIRICAL STUDY IN AUSTRIA MARIA DIEPLINGER SEBASTIAN KUMMER KATHRIN LENZ

ABSTRACT Qualified employees contribute to the success of a company by using their specific skills and knowledge. Besides achieving a competitive advantage, the qualification of truck drivers is also very important to ensure road safety. The current shortage of qualified truck drivers in Austria is expected to worsen because of demographic change, increasing transport volumes, a damaged reputation of the industry and inferior working conditions. A loss in revenue and rising transport costs could be among the consequences. Some solution approaches to reduce the shortage already exist, though. The EU directive 2003/59/EG aims to improve road safety and to reduce the driver shortage by ensuring qualified training.

Efficient human resource development is another opportunity to recruit and retain qualified drivers. Moreover, image campaigns designed to raise truck drivers’ reputation and to arouse young people’s interest to start a career in that industry were implemented by various members of the transport sector. In addition, this paper outlines the current legislative framework which applies to the qualification of professional drivers in Austria. Finally, this paper demonstrates that especially an improvement of the working conditions is necessary to make the profession more attractive for potential truck drivers.

KEY WORDS: Driver qualification, Transportation sector, empirical study.

DETAILS ABOUT AUTHORS: MARIA DIEPLINGER maria.dieplinger@wu.ac.at SEBASTIAN KUMMER KATHRIN LENZ FOR ALL AUTHORS: VIENNA UNIVERSITY OF ECONOMICS AND BUSINESS WU (WIRTSCHAFTSUNIVERSITÄT WIEN) WELTHANDELSPLATZ 1 1020 WIEN

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DEVELOPMENT OF A HEURISTIC RATING MODEL FOR THE CLASSIFICATION OF KNOW-HOW-INTENSIVE AND TECHNOLOGY-ORIENTED START-UPS (KITSS) IN AUSTRIA SABINE JUNG

ABSTRACT The paper provides an insight into a doctoral thesis at the Vienna University of Economics and Business. Objective of this work was to analyse the reasons for success of know-howintensive and technology-oriented Start-ups (KITSs) and to assess the potential for success at an early point of time in the companies’ life cycle development. By demonstrating factors for success and failure and using them for the categorisation of start-ups, information asymmetries should be reduced and the success rate of these companies increased.

First, an explanatory model of the success of KITSs was developed, describing success factors as a cause for subsequent company success (effect). Success factors, relevance systems and interactions were identified in expert interviews, providing empirical cause-effect relationships based on experience. Second, a descriptive decision model (rating model) was derived which enables the categorisation (“Stars”, “High potential for success”, “Low potential for success”) of a single case (specific KITS) through the application of the “general rules” identified in the success factors analysis. Success factors research (strategic management theory), rating theory (and practice) as well as model theory (heuristics) provide the theoretical framework for this work. A qualitative research design allowed the generation of a deeper understanding of the complex problem area. Furthermore, the lack of studies focusing on KITSs providing an up to date variable pool lead to a qualitative-explorative approach. 36 poblem-centered interviews were conducted with founders of young, established but also failed know-how-intensive and technology-oriented companies from different industry fields and experts of technology-intensive markets and companies (venture capitalists, business angels, representatives of funding agencies and incubators, start-up coaches, serial entrepreneurs). Factors for success and failure were identified in the domains of “team”, “finance” and “market-technology-fit”. For the rating model, the success factors are viewed as the “rating criteria”, factors for failure as “warning signals”. The weight of each rating criteria relates to the respective relevance identified in the success factors model and varies in dependence of the distinguishing features applicable to the specific KITS. For the evaluation of the KITS, the classification heuristics for evaluation and selection of alternatives “tallying” and “take-the-best” were identified. As one further result of the interviews, a “rating heuristic” was developed for the evaluation (rating) of a specific KITS. KEY WORDS: heuristic rating model, start-ups, KITSS, Austria Note: With support of Hon. Prof. Dkfm. Dr. Rainer Hasenauer (department for Marketing-Management, Vienna University of Economics and Business), ao.Univ.Prof.Dr. Dietmar Rößl (department for Small Business Management and Entrepreneurship, Vienna University of Economics and Business) DETAILS ABOUT AUTHOR: MAG. SABINE JUNG sabine.jung@brimatech.at 55

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USABILITY AND FUNCTIONALITY EVALUATION OF THE MOST PROFITABLE CROATIAN COMPANIES’ WEB SITES ANTUN BILOŠ IVAN RUŽIĆ IVAN KELIĆ

ABSTRACT The most commonly used form of Internet presence for a company is its official web site.

Business web sites have been used since the beginning of Internet development in its early stages. As the Web space has been changing over time in quality, quantity and capabilities, so have its business web sites as well. It is a known fact that web site quality varies as well as its usability and functionality. Having that in mind, there is an obvious need to systematically analyze and evaluate business oriented web sites. Both theoreticians and practitioners agree on the basic evaluation components of web site analysis in general. However, there is no single widely accepted performance evaluation model of business web sites. The aim of the paper is to analyze and evaluate web sites of 190 most profitable Croatian companies in different economic sections (sectors). The paper is focused on web site usability and functionality from the user perspective. Usability and functionality is measured in order to compare business web sites and assess their performance.

KEY WORDS: web site evaluation, usability, functionality, Croatian business web sites.

DETAILS ABOUT THE AUTHORS: ANTUN BILOŠ PHD, ASSISTANT UNIVERSITY OF J.J STROSSMAYER FACULTY OF ECONOMICS IN OSIJEK GAJEV TRG 7, 31000 OSIJEK, CROATIA abilos@efos.hr IVAN RUŽIĆ PHD, AGROKOR WINES ZAGREB, CROATIA ivan.ruzic@agrokorvina.hr IVAN KELIĆ UNIV.SPEC.OEC., ASSISTANT UNIVERSITY OF J.J STROSSMAYER FACULTY OF ECONOMICS IN OSIJEK GAJEV TRG 7, 31000 OSIJEK, CROATIA ikelic@efos.hr

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IT-FACILITATED INDUSTRIES AND COMPETITIVE SPACES: THE DANCE OF THE ELEPHANTS MARK KRIGER ALMA LEORA CULÉN

ABSTRACT Something very interesting is happening in the information-technology (IT) facilitated global economy: companies in industries that were previously quite separate are now rapidly converging on the same competitive spaces. This is resulting in a ‘dance of the elephants – firms such as Amazon, Facebook, Google, eBay, Apple and Microsoft, that did not even exist 30 years ago or were a small start-ups and quite agile, have become large and increasingly hobbled in their agility by the sheer size and scope of their products and/or services. The intent of this paper is two- fold: (1) to try to identify the forces behind the convergence of these once largely noncompeting firms (with some obvious exceptions in some segments of their businesses such as Apple and Microsoft in operating systems), and (2) to show how developments in the field of interaction design, and in particular, design thinking are facilitating or hindering this convergence process.

KEY WORDS: Exploration Strategies, Competitive Spaces, IT-intensive Industries, Industry Convergence, Technology Design, Design Thinking.

DETAILS ABOUT AUTHORS: MARK KRIGER PROFESSOR STRATEGIC MANAGEMENT NORWEGIAN SCHOOL OF MANAGEMENT BI N-0442 OSLO, NORWAY mark.kriger@bi.no ALMA LEORA CULÉN ASSOCIATE PROFESSOR DESIGN OF INFORMATION SYSTEMS DEPARTMENT OF INFORMATICS, UNIVERSITY OF OSLO N-0373 OSLO, NORWAY almira@ifi.uio.no

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REDEFINING STOCK OPTIONS - TOWARDS BETTER SUSTAINABILITY FOR COMPANIES AND THE SOCIETY NATAĹ A SAMEC

ABSTRACT The stock options, which are discussed in this work, are an unregulated kind of individualized call options, which are only one form of the options on stocks. The subject of this work is a topical issue, since worldwide there is a wide discrepancy between wages of the majority of employees and remunerations of the management. This wide discrepancy is not only detrimental to society as a whole but also discourages large proportion of the employees.

Not only do these discrepancies present a problem for the low-paid workforce but also for the middle classes, on which any development of society is actually based and which are becoming increasingly impoverished, all the more so due to unfavorable taxation. The work demonstrates that stock options represent a special instrument with civil and company law features. They must be distinguished from other forms of options on stocks on the one hand and from other types of wages/remuneration as well as other types of employee financial participation on the other hand. Furthermore, the work also stresses the reasons for the need to distinguish between the terms variable and additional wages/remuneration, which are also defined accordingly. The work is based on the hypothesis that stock options as performance-related payments/remunerations can be effective instruments in unifying divergent interests (of shareholders, employees in the broader sense, issuing companies and society as whole), and that there is no alternative to this concept. This concept can be realized if the state not only provides for suitable tax incentives but also sets up an appropriate legal framework laying down the conditions for the design and the necessary transparency of stock option programs to prevent their abuse.

KEYWORDS: Stock options, stakeholder value, sustainable company, performance-related payments/remunerations, (variable) wages/remuneration.

DETAILS ABOUT AUTHORS: NATAĹ A SAMEC ASSISTANT PROFESSOR UNIVERSITY OF MARIBOR FACULTY OF LAW MLADINSKA ULICA 9, SI-2000 MARIBOR, SLOVENIA natasa.samec@um.si

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A MULTIPLE-FARE MULTI-PERIOD AIRLINE REVENUE MANAGEMENT MODEL SANG-WON KIM

ABSTRACT Airlines sell similar seats on an air flight at different fares by revenue management disciplines, and the demand for any given fare class depends on the demand for the other fare classes.

Demand is affected by customer buying behaviors: 1) when customers buy other fare class tickets if the originally requested fare were unavailable and 2) when customers delay a purchase until some point in the future and wait in anticipation of reopening of the lower fare. Customer buying behaviors have a considerable profit implication, which was ignored in many earlier studies. We consider an extension of the two-fare, two-period seat inventory allocation model to multi-period, multi-fare airline seat inventory allocation decisions. We develop heuristic models for multi-period, multi-fare airline seat inventory allocation and an efficient computer algorithm to reduce computation time, which include customer buying behavior. Our numerical results are compared with those from the expected marginal seat revenue (EMSR) approach, an exhaustive search, a simulation approach.

KEY WORDS: Revenue Management; Airlines; Seat Inventory Allocations; Multi-fare Model; Multi-period Model; Heuristics.

DETAILS ABOUT AUTHOR: SANG-WON KIM COLLEGE OF BUSINESS ADMINISTRATION UNIVERSITY OF ULSAN 93 UNIVERSITY ROAD, ULSAN REPUBLIC OF KOREA 680-749 studyksw@ulsan.ac.kr

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QUALITY COST MANAGEMENT SYSTEM AT CROATIAN AIRPORTS GABRIJELA ŠPOLJAR MIROSLAV DRLJAČA DIANA PLANTIĆ TADIĆ

ABSTRACT Quality cost management presents significant challenge for managers at Croatian and other airports. The former way of measuring business perfomance was based on passenger traffic, cargo traffic, aircraft traffic and financial results, without the analysis of impact of quality costs on business results. The cost which was produced due to (non)quality has not been recorded at all, and the lack of managers’ knowledge of the content and structure of quality costs and the possibility of applying modern methods of quality cost tracking presented a considerable problem, which in turn prevented a satisfactory quality cost management. As a specific type of cost, the quality costs represent a certain financial reserve that we can define and direct to business activities. These can then contribute to competitiveness, which is very important in the present recession period. It is recommended to improve characteristics of airport management system by the implementation of ISO 9001 norm requirements, which are the necessary infrastructure for building a quality cost management system.

The research, as the platform for this paper, is focused on the development degree of quality cost management systems at the Croatian airports. In the research we used scientific cognitive methods with emphasis on statistical method, comparative method, as well as on the methods of induction and deduction. Primary research was conducted at the seven airports in Croatia: Dubrovnik, Osijek, Pula, Rijeka, Split, Zadar and Zagreb. The research results show the implementation and certification phase of ISO 9001:2008 quality management system, as well as the development degree of quality cost management systems at the Croatian airports.

KEY WORDS: Quality, Croatian airports, Quality costs, Quality cost management.

DETAILS ABOUT AUTHORS: GABRIJELA ŠPOLJAR, MSc ZAGREB AIRPORT, LTD., ZAGREB, CROATIA gspoljar@zagreb-airport.hr MIROSLAV DRLJAČA, PhD ZAGREB AIRPORT, LTD., ZAGREB, CROATIA mdrljaca@zagreb-airport.hr DIANA PLANTIĆ TADIĆ, PhD VELEUČILIŠTE VERN, ZAGREB, CROATIA diana.plantic-tadic@vern.hr

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MARKETING DECISION MAKING UNDER CONDITIONS OF UNCERTAINTY AND RISK OTILIJA SEDLAK MARIJA CILEG TIBOR KIS IVANA CIRIC

ABSTRACT Marketing decisions in modern-day business are made under conditions of growing uncertainty, which cannot be measured, and business risks, which are measurable. High uncertainty and risk levels result from disruptive innovations and great unexpected shocks (Kotler & Caslione, 2009, p. 3.). Marketing decisions have always been made under the conditions of uncertainty and risk, but modern-day pace of change and intensity of shock are more extreme than ever. For this reason, market decision makers should be qualified for appropriate assessment of acceptable risk level, so as to secure the best effects and control the damage from made marketing decision. Applying the fuzzy set theory is a good example of such approach to marketing decision making.

Based on the concepts of core competences and strategic sourcing, this paper provides a structured and easy-to-follow procedure to develop sourcing decisions helping companies to focus on core activities and restore competitive advantages. Moreover, the application of the developed procedure in a real industrial case confirms the soundness of the whole procedure.

KEY WORDS: Knowledge-based systems, Fuzzy logic, Marketing decision making process.

DETAILS ABOUT AUTHORS: OTILIJA SEDLAK PROFESSOR zotisz@tippnet.rs MARIJA CILEG PROFESSOR mcileg@ef.uns.ac.rs TIBOR KIS PROFESSOR tkis@ef.uns.ac.rs IVANA CIRIC PHD STUDENT civana@eunet.rs FOR ALL AUTHORS: FACULTY OF ECONOMICS IN SUBOTICA UNIVERSITY OF NOVI SAD SUBOTICA, SERBIA

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MARKETING OF ECOLOGICAL PRODUCTS IN OSIJEK-BARANJA COUNTY MARIJA TOLUŠIĆ ZRINKA TOLUŠIĆ ZDRAVKO TOLUŠIĆ

ABSTRACT Nowdays, market shows more and more interest for organic products. Marketing of organic products is special because of specific characteristics of organic products, and so is its marketing mix, too. Statistic data analysis showed that Osijek-Baranja county is leader in organic production in Republic of Croatia. Research showed that people know what organic products are, but also that they don’t buy them very often. It’s also shown that people think that organic products are costly and not promoted enough. Conclusion is that marketing of organic products can be improved in future.

KEY WORDS: organic products, marketig, marketing mix, analysis, research, improvement.

DETAILS ABOUT AUTHORS: MARIJA TOLUŠIĆ, MAG. OEC. LECTURER UNIVERSITY OF JOSIP JURAJ STROSSMAYER IN OSIJEK DEPARTMENT OF CULTUROLOGY OSIJEK, CROATIA tolusicmarija@gmail.com ZRINKA TOLUŠIĆ, UNIV. BACC. ING. AGR. STUDENT: FACULTY OF AGRICULTURE IN OSIJEK UNIVERSITY OF JOSIP JURAJ STROSSMAYER IN OSIJEK STUDENT: SCHOOL OF BUSINESS AND MANAGEMENT “BALTAZAR ADAM KRČELIĆ, ZAPREŠIĆ, CROATIA PROF. DR. SC. ZDRAVKO TOLUŠIĆ PROFESSOR UNIVERSITY OF JOSIP JURAJ STROSSMAYER IN OSIJEK FACULTY OF AGRICULTURE IN OSIJEK OSIJEK, CROATIA

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MAKING AND CONSUMING CHARACTERS MASAE KANAI, YORITOSHI HARA, HAJIME KOBAYASHI, MASAAKI TAKEMURA

ABSTRACT This paper shall introduce a new phenomenon about consumption. This is related to consumption of characters like Mickey Mouse and Hello, Kitty. The phenomenon appears prominently in Japan. In order to examine consumption of characters and the strategies for creating characters, we conducted a case study on a set of marketing strategies of a toy manufacturer in Japan. Traditionally, consumption research is asserted using the unimethodological paradigm. The uni-methodological paradigm here means that researchers have a methodological exclusiveness stance to any other research approaches. Hirschman and Holbrook (1992) distinguish five non-interchangeable research approaches on consumer research. For instance, from an economic point of view, consumption could be assumed as a problem solving method to increase utility. Baudrillard (1968, 1970) criticized this type of functional consumption. Researchers have often denied the other approaches competitive to their own approaches rather than incorporating them.

Character consumption cannot be revealed by such an insulated research stance because consumers would like to consume characters for multidimensional reasons. They consume characters to enhance their utilities. In addition, characters stimulate consumers’ sentiments.

The possession desire is satisfied by consuming characters. Possessing character goods can create small interest groups and stimulate communication among the group members.

Consuming characters is assumed to involve multidimensional aspects: functional, conspicuous, and semiotic consumption. As a result, once we try to understand character consumption, we have to employ the multi-disciplinary approach in contrast to the unimethodological paradigm. Through our case study, we revealed the distinctive marketing strategies in the business of characters. It is necessary for marketers of character goods to regard character consumption as having functional, conspicuous, and semiotic aspects. We can find distinctive characteristics in the market research, product development, advertising, and communication strategies in the process of creating characters.

KEY WORDS: Characters, Character universe, Multidimensional Consumptions, Character Development.

DETAILS ABOUT AUTHORS: MASAE KANAI, ASSOCIATE PROFESSOR FACULTY OF ECONOMICS, OSAKA UNIVERSITY OF ECONOMICS AND LAW, OSAKA, JAPAN masae@keiho-u.ac.jp YORITOSHI HARA, ASSOCIATE PROFESSOR MEIJI UNIVESITY, SCHOOL OF COMMERCE, TOKYO, JAPAN hara@kisc.meiji.ac.jp HAJIME KOBAYASHI, PROFESSOR MEJI UNIVERSITY, SCHOOL OF COMMERCE, TOKYO, JAPAN hkoba@kisc.meiji.ac.jp MASAAKI TAKEMURA, PROFESSOR MEIJI UNIVERSITY, SCHOOL OF COMMERCE, TOKYO, JAPAN takemura@meiji.ac.jp 64

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EATING HABITS AND EXPERIENCE OF YOUNG PEOPLE AS THE BASIS FOR DEVELOPING NEW PRODUCTS JADRANKA IVANKOVIĆ MAJA DAWIDOWSKY MAMIĆ MARTINA MAJIĆ

ABSTRACT Nowadays market-oriented companies, which operate in a highly competitive environment, go out of their way to adjust their offer to the needs and wants of their target market. At the same time these needs and wants change as the result of changed living conditions and life styles and on the basis of experience gained by both the existing and prospective consumers. Therefore, in order to survive, maintain and/or improve their market position relative to their competitors, companies make huge efforts to continuously bring to the market new, innovative or at least modified products from their existing range. Food industry is one of the industries that pay increasing attention and devote more time to prospective and existing consumers, emphasizing their role and significance when developing new products.

For the purpose of this paper we have researched the eating habits and experience of young consumers. The study focuses on two age groups: young adults aged 18-24 and young people aged 25-30, more specifically, college students and young people who live independently and have started making a living. Quantitative and qualitative research has been applied in the study, namely a survey on a sample of 200 subjects and in two focus groups, one for each age group. Research results show the existing habits of young consumers when using food products as well as their experience of preparing and consuming food, and offer new ideas for developing food products, which was the primary goal of this study.

KEY WORDS: food industry, new product development, market research, consumer habits, consumer experience.

DETAILS ABOUT AUTHORS: JADRANKA IVANKOVIĆ, PHD PODRAVKA D.D., KOPRIVNICA, CROATIA jadranka.ivankovic@gmail.com MAJA DAWIDOWSKY MAMIĆ PRIVREDNA BANKA ZAGREB, CROATIA maja.dawidowsky@gmail.com MARTINA MAJIĆ, PROF. CHAIR OF TOURISM STUDIES VERN’ UNIVERSITY OF APPLIED SCIENCES ZAGREB, CROATIA martina.majic@vern.hr

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PREFERENCE-BASED FUNCTIONAL FOOD MARKET SEGMENTATION USING CONJOINT AND CLUSTER ANALYSIS NENAD DJOKIC INES MESAROS SUZANA SALAI

ABSTRACT The functional food market is characterised by dynamic growth, and one of the prerequisites for maintaining such a trend is further acceptance of the functional food concept by consumers. What is also particularly important to this end is research into functional food consumer profile. Marketing research dealing with this issue often produces contradicting results, among other reasons, due to difference in products that are studied, differences in sampling, different variables that are measured, and, last but not least, different approaches to research into the issue, in terms of methods and techniques. This article looks into the potential benefits from preference-based functional food market segmentation using conjoint and cluster analysis. The authors describe the procedure of applying this approach and the reasons for choosing preferences according to individual levels of product attributes as the basis of segmentation. The conclusion is that multiple benefits of the chosen approach can be identified, which is accompanied by a detailed analysis of identified benefits.

KEY WORDS: Functional food, Preference-based market segmentation, Conjoint analysis, Cluster analysis.

DETAILS ABOUT AUTHORS: NENAD DJOKIC TEACHING ASSISTANT HIGHER SCHOOL OF PROFESSIONAL BUSINESS STUDIES NOVI SAD NOVI SAD, SERBIA nenad.djokic.vpsns@gmail.com INES MESAROS TEACHING ASSISTANT FACULTY OF ECONOMICS SUBOTICA SUBOTICA, SERBIA mines@ef.uns.ac.rs SUZANA SALAI PROFESSOR FACULTY OF ECONOMICS SUBOTICA SUBOTICA, SERBIA sazu@ef.uns.ac.rs

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IMPULSIVE CONSUMER BEHAVIOR RUŽICA KOVAČ ŽNIDERŠIĆ DRAŽEN MARIĆ ALEKSANDAR GRUBOR

ABSTRACT Research into consumer behaviour features as the foundation of all the planned and implemented marketing activities of a company. Consumer behaviour is determined by numerous factors, and is therefore characterised as highly complex and difficult to predict.

A particular challenge for marketing science and practice is to research impulse consumer behaviour in shopping – a behaviour that occurs when consumers experience a sudden, powerful and persistent urge to buy something immediately. This article addresses some of the factors that cause consumers’ impulsive or impulse-driven behaviour, and also to point out some possible directions of thinking and future research, based on the experience from Serbia.

KEY WORDS: consumer, consumers’ impulsive buying behaviour, situational factors, personality.

DETAILS ABOUT THE AUTHORS: PROF. RUŽICA KOVAČ ŽNIDERŠIĆ, PHD, FULL PROFESSOR FACULTY OF ECONOMICS IN SUBOTICA, UNIVERSITY OF NOVI SAD SUBOTICA, SERBIA znikor@ef.uns.ac.rs PROF. ALEKSANDAR GRUBOR, PHD, FULL PROFESSOR FACULTY OF ECONOMICS IN SUBOTICA, UNIVERSITY OF NOVI SAD SUBOTICA, SERBIA agrubor@ef.uns.ac.rs DRAŽEN MARIĆ, MSC, ASSISTANT LECTURER FACULTY OF ECONOMICS IN SUBOTICA, UNIVERSITY OF NOVI SAD SUBOTICA, SERBIA drdrazen75@yahoo.com

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ANALYSIS OF SPORTS CLUBS’ MARKETING STRATEGIES WITH SPECIAL REFERENCE TO ONLINE MARKETING RINO MEDIĆ MARIJO STRAHONJA BRANKA ŠUPUT

ABSTRACT For a long time now sport has been much more than a game. It has become big business.

According to some data sports industry is worth over 140 billion US dollars and everybody involved attempts to get their piece of the pie. Taking into consideration the value of the market and the globalisation, the ways in which sports clubs try to increase profit are becoming more and more sophisticated. They have long gone beyond the scope of functioning as sports organizations and nowadays, they have come closer to the business model of large companies.

This paper attempts to provide an answer to how efficient the marketing strategies used by sports clubs are in achieving the competitive advantage from both aspects, business as well as sport, and in what way and how much the two goals depend on each other. Taking into account the growing role of the Internet in advertising, a special overview of online marketing is given and the way sports cubs use online marketing as a marketing strategy to achieve their goals. For the purpose of this paper a market research has been carried out using a questionnaire as an instrument of research, apart from collecting secondary data available on foreign and Croatian sports clubs’ web pages. This paper partly refers to the work of sports clubs which have very successfully developed marketing strategies and have become a benchmark for Croatian clubs. Additionally, it analyses the position of marketing strategies of Croatian clubs and compares them with clubs abroad. Further, the analysis deals with the extent to which marketing strategies contribute to the clubs’ success in the field of sport and how and to what extent different ways of using online marketing contributes to that.

KEY WORDS: Marketing strategies, Sports clubs, Online marketing.

DETAILS ABOUT AUTHORS RINO MEDIĆ, MM rino.medic@vern.hr MARIJO STRAHONJA, bacc.oec.

BRANKA ŠUPUT branka.suput@vern.hr FOR ALL AUTHORS: VERN’ UNIVERSITY OF APPLIED SCIENCES ZAGREB, CROATIA

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ANALYSIS OF MARKETING COMMUNICATIONS ON CROATIAN MARKET OF CARD BUSINESS MATEJA ČOP BORIS JURIČ KARMEN PRELEC

ABSTRACT Business card market is one of the most dynamic and fastest growing, that is primarily a result of ever more rapid development of modern information technologies are finding their place in that industry. Their use has led to the acceleration in retail sales processes, and especially particular payment of goods and services through non-cash payment methods in which the card products are increasingly gaining in importance and take the lead in the form of cash payments.

The paper attempts to answer the question of how communication strategies used by the card issuer in daily communication with existing and potential customers are effective in achieving the desired level of differentiation from the competition. Also, the paper wishes to answer the question of what are the factors that influence consumers when making decisions about the use of credit card services in general, as well as their final choices of providers offer. For the purpose of market research card products in Croatia, as well as the impact of marketing communications card issuers on consumer behavior, the survey method was used with the questionnaire as a research instrument.

Differentiation of supply is essential for achieving growth in the today dense card products market, both in the world and in Croatia. However, it must be adequately communicated to the target market. Consumers in Croatia today can hardly spot the differences between credit issuers in their communication strategies. This problem is the main focus of this research process.

KEY WORDS: marketing communication, card business, differentiation.

DETAILS ABOUT AUTHORS: MATEJA ČOP, MM cop.mateja@gmail.com BORIS JURIČ, MA boris.juric@vern.hr KARMEN PRELEC, MC karmen.bencek@gmail.com FOR ALL AUTHORS: UNIVERSITY OF APPLIED SCIENCES VERN’ ZAGREB, CROATIA

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ANALYSIS OF CONSUMERS’ ATTITUDES TOWARDS HOMEMADE AND INDUSTRIAL BRANDS: CASE OF OLIVE OILS ON CROATIAN MARKET IVANA STANEKOVIĆ DAVORIN ŠIMUNIĆ KATARINA LUKETA

ABSTRACT With the increasing trend of the concern regarding food quality, the awareness and consumers’ interest for growing and processing food that they consume are increased as well. The aim of this paper is to examine consumers’ attitudes towards homemade and industrial brands of olive oils as well as their habits regarding purchase of this product. The analysis aims to learn whether there are consumer preferences and general notions towards the homemade brands of olive oils as well as their attitudes when it comes to industrial brands. The paper identifies whether there are any preferences for a particular brand and what the other factors, influencing their purchase, are: price, quality assessment, consumer expectations, the impact of positioning at the point of sale and the impact of advertising. Furthermore, the purpose of this paper is to explore the frequency and place of purchase, the method by which customers evaluate different alternatives and the criteria which are the basis for their decision when purchasing olive oils, but the paper also aims to learn whether customers look for product information before purchasing and what determines the scope of their analysis.

The study is based on the data collected within the research which is conducted both faceto-face and electronically, on a sample of 210 respondents of different age, gender, level of education and income level, which gives more representative picture of the actual situation on the Croatian olive oil market. The research results should indicate whether there are some specific consumers’ preferences, as well as the selection and buying habits. These results should enable companies and small producers (family farms) for easier and better targeting of consumer groups and to provide answers to the questions about (re)positioning their products on the Croatian olive oil market.

KEY WORDS: Consumers’ attitudes, Homemade brand, Industrial brand, Olive oils, Croatian market.

DETAILS ABOUT THE AUTHORS: IVANA STANEKOVIĆ, MM UNIVERSITY OF APPLIED SCIENCES VERN’ – ZAGREB ivana.stanekovic@vern.hr DAVORIN ŠIMUNIĆ, MBA ZVIJEZDA D.D. - ZAGREB davorin.simunic@zvijezda.hr KATARINA LUKETA, MF PHILIP MORRIS INTERNATIONAL - ZAGREB ivana.stanekovic@pmi.com

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MODERN TRENDS OF MARKETING DEVELOPMENT IN BANKING INDUSTRY JOVICEVIC RATIMIR

ABSTRACT Concerning general globalization and identifiable economic trends, today banks can offer to the market wide range of products and services, both in our country and abroad. Thanks to the development and application of information technologies, it is mainly conditioned and supported. In that sense it is particularly important to include: models of modern information infrastructure, databases and data keeping, data protection, data management, communication between computers, modern statistical software and other IT tools, which has contributed to the unfathomable increase of speed of data processing, introduction of ATMs, operation and processing of various types of credit and debit cards etc. Banks all over the world, as well as in our country, strongly influence the flows of economic activities in the sector of real economy. Understanding of specific nature of banking services and their complexity is of great importance for marketers, especially from the perspective of their clients. Due to that reason, efforts have been made on theoretical and methodological level, especially in the last two decades, in order to develop the marketing of financial (banking) services as a separate academic discipline. Key dimensions of these services have been the research focus for many authors and the generally accepted view is that the main dimensions of service quality are a key factor for success.

The main objective of marketing-oriented bank is superior satisfaction of present and future needs of bank clients in relation to competitors, with profit realization which is a prerequisite for ensuring the sustainable growth and development with the strengthening of bank’s market position in relation to the competitors. Bank needs to continually update its portfolio of products and services in order to realize the marketing performance and overall business performance.

Every banks’ limitation of financial resources requires the allocation of individual marketing mix instruments in a way that will provide the best results to the bank in providing most benefits to the bank and other stakeholders. The most important role of bank marketing is to enable harmonization of banking products and services offer to the needs of specific target groups.

Also, marketing has a role in staff education and in designing of banking services (of physical environment and processes), with creation of competitive advantage. If we start from the well-known statement that marketing in banks was not sufficiently developed until recently, it is completely reasonable and particularly relevant to elaborate the aspect of influence of new marketing paradigms on development of the banking marketing. Relevance of this thesis is particularly emphasized by the fact that in recent time large number of relevant academic works has been issued, proposing separation of financial (banking) services marketing as a separate part of the marketing, with need for more detailed consideration in determining its position. In that sense we would like to focus the barycenter of this paper on bank marketing and impact of new marketing paradigms on banking and bank marketing.

KEY WORDS: Marketing, Bank marketing, New marketing paradigms, Competition.

DETAILS ABOUT AUTHOR: JOVICEVIC RATIMIR, PROFESSOR MONTENEGRO BUSINESS SCHOOL, UNIVERSITY MEDITERRANEAN, PODGORICA, MONTENEGRO ratkojovicevic@t-com.me 72

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ANALYSIS OF IMAGE RESEARCH IN CROATIA MAJA DAWIDOWSKY MAMIĆ DIANA PLANTIĆ TADIĆ MIRJANA BAUTOVIĆ

ABSTRACT The subject of this paper is to analyse the research results on the corporate image of Croatian companies. Image research is an important tool in marketing and business decision making but the performance of the mentioned activities is still insufficient in practice. This paper sets the following objectives: the importance and usage of market research in image analysis, frequency, type and methods of image research, the underlying reasons, and areas for improvement.

The primary data collection method were interviews conducted by established persons in research profession (20 respondents) from market research agencies that have more than 80% of the market share in Croatia, while the data analysis was performed through methods of analysis and synthesis, supported by content analysis. The main findings state that the brand is more researched than the overall corporate image and, mostly, it is not done systematically. The paper defines ways of improving the processes behind the image perception.

KEY WORDS: market research, image, image research.

DETAILS ABOUT AUTHORS: MAJA DAWIDOWSKY MAMIĆ PRIVREDNA BANKA ZAGREB, CROATIA maja.dawidowsky@gmail.com DIANA PLANTIĆ TADIĆ UNIVERSITY OF APPLIED SCIENCES VERN’ ZAGREB, CROATIA diana.plantic-tadic@vern.hr MIRJANA BAUTOVIĆ UNIVERSITY OF APPLIED SCIENCES VERN’ ZAGREB, CROATIA mirjana.bautovic@vern.hr

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SATISFACTION WITH CRM IMPLEMENTATION IN CROATIAN COMPANIES MIROSLAV MANDIĆ

ABSTRACT Customer Relationship Management (CRM) is often linked with high expectations and, consequently, dissatisfaction with its implementation. The aim of this paper was to research the level of satisfaction with CRM in Croatia. Accordingly, the research included expectations and satisfaction in the implementation of the CRM strategy. The population included 1000 leading Croatian companies based on the following criteria: a) newly acquired value, b) income, c) profit. The research was conducted in the period between April and July 2010 and consisted of three parts. The instrument of the research was a survey and there were 268 respondents, which ensured the return rate of 26.8%. The sample consisted exclusively of the decision makers in those Croatian companies, which means their leading business experts. The surveys were sent via email or fax, and only exceptionally via post, if specifically asked by the respondents. The results revealed that as much as 75% had high or extremely high expectations. Moreover, the results showed that 59% of the respondents were very or exceptionally satisfied with CRM, which is entirely in opposition with similar research conducted for different markets. Especially significant and interesting were the results which revealed that 69% of respondents believe the relationship with their clients has improved or considerably improved after implementing CRM. KEY WORDS: Customer Relationship Management, CRM, implementation, expectations, satisfaction.

DETAILS ABOUT AUTHOR: MIROSLAV MANDIĆ ASSISTANT PROFESSOR UNIVERSITY OF ZAGREB FACULTY OF ECONOMICS AND BUSINESS ZAGREB mmandic@efzg.hr

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KEY FACTORS, BENEFITS AND LIMITATIONS OF APPLYING SUSTAINABILITY MARKETING SILVIJE JERČINOVIĆ AUGUST SLIVAR VALENTINA PAPIĆ BOGADI

ABSTRACT Sustainable development represents an assumption for marketing efficiency of business subjects, as well as an assumption of balanced society. Application of sustainability in business models implies interaction of its economic, ecological and social aspects. As one of significant management instruments, marketing can in present time have an indisputable and significantly high level of influence on society and environment. The advantage and purpose of the new marketing paradigm lies in the fact that based on the newly created conditions one can achieve optimal business and organisational efficiency.

The objective and purpose of this paper is to empirically determine key implementation factors, benefits and limitation factors of sustainability marketing. The paper also aims at emphasizing their importance and influence on marketing activities, as well as on business excellence based on examples of small and medium sized companies. Performance marketing is in positive correlation with the adequate application of sustainability principles during marketing planning. Based on the observed empirical findings it is evident that in the long term such approach can generate higher growth and gain, as well as some other nonfinancial factors of success of business subjects. As marketing tool, sustainability can easily represent a key factor in competitiveness of business subjects.

KEY WORDS: Sustainability marketing, Performance marketing, Small and medium enterprises, Sustainable development.

DETAILS ABOUT AUTHORS: SILVIJE JERČINOVIĆ SENIOR LECTURER sjercinovic@vguk.hr AUGUST SLIVAR STUDENT ausl@net.hr VALENTINA PAPIĆ BOGADI SENIOR LECTURER vpapic@vguk.hr FOR ALL AUTHORS: KRIŽEVCI COLLEGE OF AGRICULTURE KRIŽEVCI, CROATIA

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PUBLIC CONFIDENCE IN INSTITUTIONS OF THE ENVIROMENTAL PROTECTION SYSTEM MERICA PLETIKOSIĆ

ABSTRACT In this paper, the results of the empirical research investigating the awareness, attitudes and confidence of the interested public towards authorized companies who carry out the monitoring and controlling of environmental protection in the economy are interpreted, on the example of Croatian largest cement plant. A survey research was conducted on a target sample using an in-depth interview and participant observation. One of the research aims was to determine whether the interested public believes that inspection services monitor the activity of the cement plan adequately and whether they believe their reports. In the analysis of the empirical material a grounded theory method was used, quantification of qualitatively analyzed coded material was performed using the Statistica ver 11.00, and finally, SWAT analysis was conducted.

By analyzing the aforementioned results, it can be stated that representatives of the target groups differ from each other in the variables used, and that their attitude and opinion about content items depends on the group to which they belong. The variable referring to the confidence towards inspection services had the highest projection in the first discriminant function, and the greatest differences among the target groups occur in relation to this coded question. The second discriminant function has the highest relation to the variable referring to the alignment of Croatian and EU legislation, and therefore, it contributes the most in differentiating the target groups. The variable referring to the reliability of the measurement performed by authorized institutes and laboratories has the highest correlation to the third discriminant function and the highest projection of differences. The majority of subjects believe that inspection services monitor the activity of the cement plant adequately and they believe their reports. The results of the SWOT analysis show that the strengths overcome the weaknesses and the opportunities overcome the threats, supporting the growth strategy.

KEY WORDS: Awareness, Attitudes, Inspection services, Economy.

DETAILS ABOUT AUTHOR: MERICA PLETIKOSIĆ ENVIRONMENTAL MANAGER CEMEX CROATIA, ENVIRONMENTAL DEPARTMENT CESTA DR.F. TUĐMANA 45, 21212 KAŠTEL SUĆURAC, CROATIA merica.pletikosic@cemex.com

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WORKSPACE AND ERGONOMICS OF A SECONDARY TECHNICAL SCHOOL DAVOR ŽILIĆ OLIVER HIP ROBERT IDLBEK

ABSTRACT The paper is based on the study and analysis of ergonomic aspects of work equipment and workspace in a secondary school in the Republic of Croatia. The analysis is primarily related to the IT part of the school i.e. offices and cabinets with computers and whose employees or students use computer equipment. A questionnaire analyzed the working conditions in a computer classroom. It will be presented all factors and possible side effects of daily exposure to bad workplace ergonomics consisting of noise impact, IT environment, lighting, screen tilt, seat position, etc.

KEY WORDS: ergonomics, workspace, high school, research.

DETAILS ABOUT AUTHOR: DAVOR ŽILIĆ STUDENT AT POLYTECHNIC SPECIALIST GRADUATE STUDY OF ZAGREB zilic.davor@gmail.com OLIVER HIP PH.D, HIGH SCHOOL POŽEGA, OSJEČKA 33, 34000 POŽEGA oliver.hip@po.t-com.hr ROBERT IDLBEK PH.D, UNIVERSITY OF APPLIED SCIENCES IN POŽEGA, VUKOVARSKA 17, 34000 POŽEGA ridlbek@vup.hr

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NEW CONCEPTS OF BRAND MANAGEMENT – PRIVATE LABELS STJEPAN DVORSKI, DOMAGOJ KOPREK

ABSTRACT Contrary to the classic concepts of brand management, which equalizes the brand owner and the manufacturer, the new concepts of brand management, which include the private labels, make a difference between the brand owner and the manufacturer. The term “private labels” refers to the brands owned by another person (intermediary), which engage the manufacturers to make the products according to their specifications, under a certain private label. The private labels are usually related to the generic products and price-sensitive market segments, in which the relation between the investment and the profit plays the key role in the process of perception and decision about buying of the product. The intense growth of the chain stores, especially those which develop the strategy of price leadership, generates the growth and development of the private labels. The domestic chain stores follow the developmental trend, so that the number of the private labels in Croatia has multiplied in the last two years, especially in the segment of food industry. The increase of the complexity of the products and strengthening of the image of the private labels is an important baseline of the turn from the basic concepts of the private labels (lower price – lower quality). The control of the quality, high demands in the sense of technology and market trends direct the development of the private label toward the production brands, both in the sense of quality and the price. At the same time, because of the reduction of the space on the store shelves which is the result of spreading of the private labels, the production brands were forced to change the strategy of business and to become subordinate to the success of the private labels. The research in this paper, which was based upon the interviews with the experts, supports the thesis about the importance of the private labels for the growth and development of the society. The development of the private labels is an extremely quick and demanding category, which in the last few years almost nullified the difference in the technical and technological quality of the product in comparison with the production brands. This is the feature which has the strongest impact on the increase of the pace of the developmental cycles of the companies, and encourages the invention and differentiation of the future production assortment. The strategic dilemma of the manufacturing companies related to the private labels is additionally sensitized by the strengthening of the partner relationship and the cooperation with the chain stores; in this, the establishing of the connections is the important basis for the further growth and development of the companies. The production for the private labels is the baseline of the contemporary brand management, which, with the consistent implementation and strategic alliances with the chain stores, represents the sustainable competitive advantage for all parties included in this relationship.

KEY WORDS: Brand management, Private label, Strategic alliances.

DETAILS ABOUT AUTHORS: STJEPAN DVORSKI, PROFESSOR FACULTY OF ORGANIZATION AND INFORMATICS, UNIVERSITY OF ZAGREB, CROATIA stjepan.dvorski@foi.hr DOMAGOJ KOPREK CEO, PREHRANA D.O.O., VARAŽDIN, CROATIA 78

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BRANDS AND BRAND MANAGEMENT PAVAO VRANEŠEVIĆ

ABSTRACT Brands are the most important tools in marketing; they represent identity and image of a company. Their rise is not a recent phenomenon, but today they have an essential role in business. The reason for that is the strong image they call up in consumers´ minds and value they add to consumers but also producers. For one to introduce brand in the market, it is necessary to establish adequate brand strategy which then can bring lot of advantages to the company. This brand strategy should be integrated in all levels of business. Here we talk about branding as an integral part in the success of the brand. Once this is settled, which position the brand will take or takes is the next biggest challenge. Obviously, brand can be managed in many ways, but the most important thing is to establish a meaning of the brand that is relevant and valuable to consumers. Creating the image of the brand that stands out certainly help achieve that. However, brand development depends on strategic decision, more precisely whether the low-budget or high-budget route will be pursued. Finally, successful brands can have a social impact and benefit the society on the whole, in terms of more new products, more labor and stirring of the market. Brand management can achieve this.

KEY WORDS: brands, brand management, strategic decisions, tool in marketing.

DETAILS ABOUT AUTHOR: PAVAO VRANEŠEVIĆ STUDENT UNIVERSITY OF ZAGREB FACULTY OF ECONOMICS AND BUSINESS ZAGREB pavo.vranesevic@yahoo.com

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LOCAL AND REGIONAL SELF-GOVERNMENT IN THE REFORM PROCESS ZVONKO NOVOSEL-DOLNJAK

ABSTRACT This paper discusses the development of Croatia’s local and regional self-government in the past twenty years. Solutions for the organization and the model itself are associated with the European Charter of Local Self-Government, and are compared to the accepted model of the European local and regional self-governments. The paper also discusses the existing functions of the regional-county characters, with specific references to their authorities and duties undertaken. Furthermore, possible reforming models in the Republic of Croatia are also elaborated, and a comparison is given between some european models and trends in the context of regional self-government.

KEY WORDS: local self-government, regional self-government, county, reforms, the European Charter of Local Self-Government.

DETAILS ABOUT AUTHOR: MR.SC. ZVONKO NOVOSEL – DOLNJAK GRADING INVEST D.O.O. zvonko@grading-invest.hr

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THE IMPORTANCE OF MUSIC FESTIVALS FOR DEVELOPING YOUTH TOURISM, THE CASE OF CROATIA DORIS PERUČIĆ BLANKA BRADVICA

ABSTRACT Party in combination with sun and sea is an important motive for young people to visit tourist destinations. Music festivals are seen as a mean of attracting both international and national tourists. Furthermore, they form a strong promotional vehicle for destinations towards the youth travel market segment. Youth travelers are recognized today as valuable visitors that can make an important economic contribution to the places they visit. The number of music festivals in Croatia during the summer months has grown significantly in past few years.

Major international music events with the performance of international music stars form a crucial element of international tourism promotion. The paper explores the importance of organizing international music festivals for the development of youth tourism in Croatia.

KEY WORDS: youth tourism, music festivals, Croatia.

DETAILS ABOUT AUTHORS: DOC.DR.SC. DORIS PERUČIĆ UNIVERSITY OF DUBROVNIK DEPARTMENT OF ECONOMICS AND BUSINESS ECONOMICS dperucic@unidu.hr BLANKA BRADVICA, M.A. DUBROVNIK SATI blanka.bradvica@gmail.com

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QUALITATIVE RESEARCH DESIGN IN BUSSINES MANAGEMENT TIHOMIR VRANEŠEVIĆ

ABSTRACT Exploratory researches are useful in: (1) diagnose the situation, (2) the selection of different options of action, (3) raise of new ideas. Particularly useful approaches in exploratory research are: search secondary data sources, analysis of selected cases (i.e. case analysis), interviews with experts and/or people who have experience with matter of research, and qualitative researches. Qualitative researches are: a) focus group(s), b) in-depth interviews and c) projective techniques.

Focus group interview mean unstructured, free flow discussion with group of participants (usually 6-12 people). Benefits of focus group discussion can be seen as the 10S (Malhotra, Marketing Research, 2010, p. 181): synergism, snowballing, stimulation, security, spontaneity, serendipity new ideas, specialization, scientific scrutiny, structure, speed. In-depth interview is unstructured interviewing of one person (and/or conversation with one person). This approach is particularly useful in situations when dealing with sensitive issues and respondents want to maintain the highest possible level of privacy – i.e. on topics not discussed or at least not be honestly discussed in public. Projective techniques are considered an indirect approach due a fact that the respondents (participants) are not fully familiar with the proper purpose and goal of the research, what in particularly situations, could be considered as advantage. The main idea of projective techniques is that it is expected that respondents freely expressed their real feelings, beliefs and motivations through imaginary persons, situations, objects or even animals. There are numerous approaches and they can be classified into techniques: associations (the word and the image), completion (sentences and stories and balloon test or cartoon test i.e. completing the picture shows the situation), and RPG (role-playing game, imaginary person or “mask”). Only imagination can be limitation to the design of projective techniques and their application, but, at the same time, imagination can be a limitation to the interpretation of the results obtained using projective technique.

KEY WORDS: exploratory research, qualitative research, focus group, in-depth interview, projective techniques.

DETAILS ABOUT AUTHOR: TIHOMIR VRANEŠEVIĆ PROFESSOR FACULTY OF BUSINESS AND ECONOMY UNIVERSITY OF ZAGREB tvranesevic@efzg.hr

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INDEX OF AUTHORS A

F

ABRANTES, JOSÉ LUÍS 42, 43, 44 ACATRINEI, CARMEN 35 AGARAJ (SHEHU), XHILIOLA 49

FAIRER-WESSELS, FELICITE A 46 FÜRST, ELMAR W. M. 28, 52, 53

G

B

GASOVIC, MILAN 47 GASPARINI, ANDREA ALESSANDRO 19 GOSPIĆ, DINO 15 GREGUREC, IVA 17 GRILEC KAURIĆ, ALICA 48 GRUBOR, ALEKSANDAR 67

BARBIĆ, NIKO 45 BAUTOVIĆ, MIRJANA 73 BILOŠ, ANTUN 56 BIROVLJEV, JELENA 24 BRADVICA, BLANKA 81 BREČIĆ, RUŽICA 48 BUCKLEY, SHERYL 14 BUSHNEY, MELANIE 14

H HARA, YORITOSHI 64 HIP, OLIVER 77 HORVAT, SANDRA 15 HRDÝ, MILAN 2

C CHUDÁRKOVÁ, SILVIE 36 CILEG, MARIJA 62 CIRIC, IVANA 24, 62 CIRIC, ZORAN 24 CRAVIDÃO, FERNANDA 42 CULÉN, ALMA LEORA 19, 57

I IDLBEK, ROBERT 77 IVANKOVIĆ, JADRANKA 65

J

Č

JAKOVLJEVIC, MARIA 14 JERČINOVIĆ, SILVIJE 75 JEZ, VEDRANA 16 JOHANSEN, VIGGO 16 JOVKOVA, JORDANKA 50 JOVOVIC, RADISLAV 8 JUNG, SABINE 55 JURIČ, BORIS 69

ČOP, MATEJA 69

D DAWIDOWSKY MAMIĆ, MAJA 65, 73 DELIĆ, ALEN 17 DIEPLINGER, MARIA 54 DJOKIC, NENAD 66 DRABIK, PETER 18 DRIENIKOVA, KRISTINA 3 DRLJAČA, MIROSLAV 60 DUGULAN, DIANA 35 DVORSKI, STJEPAN 78

K KALINIĆ, ZORAN 22 KANAI, MASAE 64 KAŠČÁKOVÁ, ALENA 37 KASTAKOVA, ELENA 3 KELIĆ, IVAN 56

E ERDINÇ, DIDAR 7 83

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KERETA, JOSIP 26 KIM, SANG-WON 59 KIS, TIBOR 62 KOBAYASHI, HAJIME 64 KOPREK, DOMAGOJ 78 KORKMAZ, SUNA 39 KOTNIK, SAMO O. 28 KOVAČ ŽNIDERŠIĆ, RUŽICA 67 KRIGER, MARK 57 KRNACOVA, PAULINA 18 KUBIŠOVÁ, ĽUBA 37 KUMMER, SEBASTIAN 54

P PAIVA, ODETE 42, 43 PANDŽA BAJS, IRENA 15 PAPIĆ BOGADI, VALENTINA 75 PAVIĆ, ŽARKO 22 PERUČIĆ, DORIS 81 PLANTIĆ TADIĆ, DIANA 60, 73 PLETIKOSIĆ, MERICA 76 POVAŽANOVÁ, MARIANA 12 PRELEC, KARMEN 69 PROSTOR, JERNEJA 5

R L LAPORŠEK, SUZANA 6 LEKIĆ, ROMANA 29 LENZ, KATHRIN 54 LESAKOVA, DAGMAR 27 LUKETA, KATARINA 26, 70

RATHMAN, DEŠA 23 RATIMIR, JOVICEVIC 72 RECHNITZER, JANOS 4 REHAK, ROBERT 18 ROCCO, SANJA 45 RUŽIĆ, IVAN 56

M

S

MAJEWSKI, GRZEGORZ 14 MAJIĆ, MARTINA 29, 65 MANCE, NATAŠA 29 MANDIĆ, MIROSLAV 74 MARIĆ, DRAŽEN 67 MARINKOVIĆ, RENATA 13 MEDIĆ, RINO 68 MEDVEĎOVÁ, PETRA 12 MESAROS, INES 66 MEŠKO, MAJA 34 MEŠKO ŠTOK, ZLATKA 34 MOJAŠEVIĆ, ALEKSANDAR 33 MYRTVEIT, INGUNN 16

SALAI, SUZANA 66 SAMEC, NATAŠA 58 SEABRA, CLÁUDIA 42, 43, 44 SEDLAK, OTILIJA 62 SENIĆ, SANDA 8 SILVA, CARLA 44 SLIVAR, AUGUST 75 SPIŠIAKOVÁ, MÁRIA 32 STANEKOVIĆ, IVANA 70 STANKO, ZORAN 25 STRACENSKI KALAUZ, MAJA 48 STRAHONJA, MARIJO 68 SVETIĆ, DINKO 17

N

Š

NEDELOVÁ, GABRIELA 37 NIYAZI ÖZKER, A. 9 NOGUEIRA, MARIA JOSÉ 43 NOVOSEL-DOLNJAK, ZVONKO 80

ŠIMUNIĆ, DAVORIN 70 ŠPIRKOVÁ, JANA 32 ŠPOLJAR, GABRIJELA 60 ŠUPUT, BRANKA 68

O

T

OBRAZ, ROBERT 25 ORZAN, MIHAI 35

TAKEMURA, MASAAKI 64 TOLUŠIĆ, MARIJA 63 84

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o f

A b s tr a c ts

VICENTE, MARGARIDA 43, 44 VOGELAUER, CHRISTIAN 52, 53 VRANEŠEVIĆ, PAVAO 79 VRANEŠEVIĆ, TIHOMIR 82

TOLUŠIĆ, ZDRAVKO 63 TOLUŠIĆ, ZRINKA 63 TOTH, TAMAS 4

V

Z

VAREZ, KATARINA 23 VARLANDY SUPEK, MIRNA 25, 26 VASELIC, DARKO 47 VASILOVA, MARIA 18 VEGHEŞ, CĂLIN 35

ZSCHIEDRICH, HARALD 38

Ž ŽILIĆ, DAVOR 77

85

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NOTES

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2nd International M-Sphere Conference For Multidisciplinarity in Science and Business 2nd International M-Sphere Conference

Book of Abstracts Dubrovnik, Croatia 10th - 12th October 2013