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In our study, we explore the financial performance of companies in advertising industry in Croatia, depending on internal factors and overall economic conditions. Internal factors are represented by financial ratios of liquidity, leverage and activity, and economic conditions by the selected macroeconomic variable. Financial ratios used in this research are Current ratio (CR), Debt ratio (DR) and Total Asset Turnover (AT), and macroeconomic variable is Gross Domestic Product (GDP). The performance of the companies is measured by Net Profit Margin (NPM). The idea behind this research is based on the fact documented in the literature that some companies see marketing costs as an investment, and not only do not cut their spending on marketing in times of economic downturn, but even increase it. If many companies behave this way, this should reflect on the profitability of companies in advertising industry, with a negative relationship between GDP and their profitability. The population of this study is comprised of all the companies operating in Croatia whose main activity is promotion. According to National Classification of Activities (NACE Provisions 2007) the mentioned activity is classified in the section M 73 - Advertising and market research, and this section includes advertising agencies (M 7311), media advertising companies (M 7312) and market research companies (M 7320). The financial ratios for those companies were measured from 2009 to 2018. A multiple regression model was used and secondary data were analyzed. Among the four independent variables, only AT does not show the significance on NPM. The results of multiple regression analysis show that DR, CR and GDP have significant correlation with the financial performance of promotion companies in Croatia; DR and GDP are negatively correlated, while CR is positively correlated to the industry performance measured with NPM. The contribution of this paper is twofold: on one side, it contributes to the literature dealing with the impact of financial ratios and macroeconomic variables on financial performance, on the other side it contributes to the literature that studies the relationship between marketing costs and economic activity., U našem radu istražujemo financijsku uspješnost reklamnih poduzeća u Republici Hrvatskoj, u ovisnosti o unutarnjim čimbenicima i ukupnim ekonomskim uvjetima. Unutarnji čimbenici odnose se na odabrane financijske pokazatelje, a ekonomski uvjeti određeni su makroekonomskom varijablom – Bruto domaćim proizvodom (GDP). Financijski pokazatelji korišteni u ovom istraživanju su: Koeficijent tekuće likvidnosti (CR), Koeficijent zaduženosti (DR) i Koeficijent obrta ukupne imovine (AT). Uspješnost poduzeća mjeri se neto profitnom maržom (NPM). Zamisao ovog istraživanja temelji se na činjenici da određena poduzeća marketinške troškove smatraju investicijom te čak u vrijeme gospodarske krize ne samo da ne smanjuju već povećavaju svoju potrošnju vezanu uz marketinške aktivnosti. Stoga, ako se većina poduzeća ponaša na ovaj način, pretpostavka je da postoji negativna korelacija između Bruto domaćeg proizvoda i profitabilnosti promotivnih poduzeća. Populaciju ove studije čine sva poduzeća koja posluju u Republici Hrvatskoj, a čija je glavna djelatnost promidžba. Prema Nacionalnoj klasifikaciji djelatnosti (Odredbe NKD-a 2007) spomenuta djelatnost razvrstana je u odjeljak M 73 –Promidžba (reklama i propaganda) i istraživanje tržišta, a ovaj odjeljak uključuje agencije za oglašavanje (M 7311), poduzeća za medijsko oglašavanje (M 7312) i poduzeća za istraživanje tržišta ( M 7320). Financijski pokazatelji za navedena poduzeća mjereni su od 2009. do 2018. Korišten je višestruki regresijski model i analizirani su sekundarni podaci. Rezultati višestruke regresijske analize pokazuju da DR, CR i BDP imaju značajnu korelaciju s financijskom uspješnošću promotivnih poduzeća; DR i BDP su negativno korelirani, dok je CR pozitivno koreliran s uspješnošću industrije mjerenom NPM -om. Doprinos ovog rada je dvojak: s jedne strane doprinosi literaturi koja se bavi utjecajem financijskih pokazatelja i makroekonomskih varijabli na financijsku uspješnost, s druge strane doprinosi literaturi koja proučava odnos između troškova marketinga i gospodarske aktivnosti.

Entrepreneurial orientation is a theoretical concept defined by three dimensions: innovativeness, proactivity and risk-taking. Entrepreneurial orientation researchers suggest that entrepreneurial orientation is a concept that pervades through all organizational levels of the company (Wiklund and Shepherd, 2005 ; Wales, Monsen and McKelvie, 2011). Although focus of early research on the concept has been oriented on the company level and its influence on profitability, contemporary research has put much accent both on research of individual entrepreneurial orientation, as well as on research of entrepreneurial orientation of non- profit companies. Having on mind the fact that contemporary university should be an incubator of practical and applicable knowledge, but also being aware of many practical dimensions related to university management, in this paper we will focus on investigating whether there is a rationale for incentives for universities and students to be more entrepreneurially oriented by systematizing the findings of research papers whose focus has been on measuring individual entrepreneurial orientation of students and on researching different dimensions of entrepreneurial orientation of universities.

Opća uredba o zaštiti podataka (General Data Protection Regulation – GDPR) utječe na sve segmente poslovanja banaka, ali upravo najveći utjecaj očituje se na marketing banaka, u smislu odnosa s klijentima, korištenja digitalnih tehnologija i društvenih medija te upravljanje reputacijskim rizikom. S obzirom na striktnost same Uredbe, vezanu uz potencijalnu penalizaciju strana koje se ne pridržavaju odredbi Uredbe, za banke je od ključne važnosti da adekvatno primjenjuju Uredbu. Njena implementacija i primjena iziskuju ljudske i materijalne resurse, ali i prilagođavanje vlastitog poslovnog modela. Svrha je ovog rada primarno stručne prirode, a odnosi se na praktične aspekte implementacije odredbi Uredbe u bankarsko poslovanje, s posebnim naglaskom na marketinške aktivnosti. U prvom dijelu rada, uz uvodne postavke daje se i kratak pregled suvremenih marketinških trendova koji se koriste u bankarskom poslovanju. Drugi dio rada orijentiran je na iznošenje temeljnih pojmova i odrednica Opće uredbe o zaštiti podataka. U trećem dijelu rada tematizira se kako uskladiti poslovanje i marketinške aktivnosti na način da se zadovolje i regulatorne odredbe, ali i strateški ciljevi banaka. Na kraju rada prezentirani su zaključci i dan je popis literature., The General Data Protection Regulation (GDPR) introduction has influence on all segments of banking activities, but its highest impact is expected in banks' marketing activities, primarily in terms of relationships with customers, the usage of digital technologies and social media and management of reputational risk. Having on mind the strict provisions of the Regulation related to potential penalization of parties that are not complied with its provisions, it is of key importance for banks to adequately apply the Regulation in its business activities. The implementation and the usage of the Regulation are requiring human and material resources, but also adaptation of banks’ existing business model. The primary aim of this professional paper is to give an overview of practical aspects of Regulations' implementation into banks with special accentuation on marketing activities. First part of the paper is related to general theoretical and regulatory provisions of the Regulation. The second part is related to analysis of the influence the Regulation has on all segments of banking activities, while third part is oriented on marketing area and compliance of marketing and business activities by satisfying both regulatory provisions, but also banks' strategic goals. Finally, conclusions are made and suggestions for future research are presented.

Financial ratios analysis is extensively used in practice as well as in empirical academic research. Moreover, it is common in most countries to issue statistical data about selected financial ratios by industries. Financial performance of a specific company based on financial ratios is very often assessed related to some benchmark. The mostly known benchmark measure for any financial ratio is industry average but even it could be calculated in two alternative ways. Beside industry averages, there are examples of different approaches to ratios statistics. In our paper we firstly investigate what measures are most often used as benchmarks, what are available alternatives and which are advantages and disadvantages of their use. We investigate that by means of hypothetical examples of current ratio. Then, we test different benchmark measures for current ratio on a sample of firms to analyze their effect on the performance rank of a single firm based on a specific benchmark measure. Finally, we give recommendations about the use of benchmark measures.

Prema podacima Financijske agencije u Republici Hrvatskoj u 2017. godini bila su aktivna 1.943 poduzeća čija je glavna djelatnost promidžba i istraživanje tržišta, a zapošljavala su ukupno 5.683 zaposlenika. Sukladno Nacionalnoj klasifikaciji djelatnosti (NKD 2007) navedena djelatnost se vodi u odjeljku M 73 - Promidžba (reklama i propaganda) i istraživanje tržišta, a konkretno obuhvaća agencije za promidžbu, poduzeća za oglašavanje preko medija i poduzeća za istraživanje tržišta. U strukturi promatranih poduzeća po veličini isključivo su mala ili srednja poduzeća. S obzirom da posljednje izvješće Centra za politiku razvoja malih i srednjih poduzeća i poduzetništva u Republici Hrvatskoj pokazuje pozitivne pomake u rastu i razvoju malih i srednjih poduzeća, cilj ovog rada je ispitati da li za poduzeća iz sektora M73 to isto vrijedi. Kako bi se navedeni cilj postigao provedena je financijska analiza cjelokupnog sektora M73 za razdoblje od 2013. do 2017. godine. Na temelju provedene financijske analize egzaktno se utvrdilo financijsko stanje i uspješnost sektora. Rezultati istraživanja pokazuju da u posljednjih pet godina prevladava pozitivan trend u sektoru M 73 po broju poduzeća, broju zaposlenih i ostvarenim prometima. Unatoč tome u tom su sektoru uočeni brojni problemi koji doprinose razvoju financijske nestabilnosti. Naime, pokazatelji likvidnosti ukazuju da unatoč tome što poduzeća raspolažu radnim kapitalom, njihova likvidnost može se ocijeniti osrednjom. U prosjeku promatrana poduzeća 70% svoje imovine financiraju iz tuđih i to većinom kratkoročnih izvora, rokovi naplate potraživanja prelaze preko 100 dana, a neto rentabilnost imovine kreće se u rasponu od svega 3, 88% do 7, 19%. Rezultati sektora poticaj su za daljnja istraživanja na razini individualnih poduzeća budući da na toj razini mogu postojati značajne razlike na način da postoje poduzeća s izuzetno dobrim i iznimno lošim poslovanjem što je naša analiza broja agencija za promidžbu s obzirom na broj zaposlenih te ukupne prihode i pokazala.

Adequate functioning of the supply chain is one of the key prerequisites for successful functioning of business activities within contemporary organizations. Globalisation of business activities, related to advances in information technology and its effects on the supply chain activities, may lead to increased risk in any part of the supply chain, especially in terms of the company not being able to optimize its supply chain activities. Failures or inadequacies in any part of the supply chain may result in significant financial or reputational loss for the company. It is therefore crucial for companies to manage its supply chain risks properly. The aims of this paper are: (1) to present a comprehensive overview of literature related to supply chain risk management, based on which aspects of risk management and advances in this area that may be related to supply chain will be evaluated and (2) to give suggestions for improvement and future research in the analysed area. Special accentuation is put on holistic view on risk management in the company, having on mind that this view leads to optimization of risks and adding value to the company.

The purpose of the paper is to present and to explain the method and importance of measuring and determination of the comparative advantages of the national economies. The goal of the paper is to determine the priority service sectors of Republic of Croatia in which the strategy of smart specialization should be implemented, targeted on establishing the strong points and potentials on which the state should focus to create national comparative advantages. The indicator of the revealed comparative advantage (RCA indicator) shows that Republic of Croatia realizes positive values of RCA in all service sectors, and the strongest comparative advantages are in the sector of tourism and services related to travelling, which shows, along with the sector of transportation services, the largest percentage in service export. From the above mentioned it is clear that there is a significant correlation between the sectors with the revealed comparative advantages and its percentage in the structure of the export. Aggregated GL index shows that Republic of Croatia realizes the highest level of specialization in the intra-industrial exchange (exchange of the same services) in ICT sector, which is followed by the transportation services, other business services, and the recreational, cultural and sport services. Other service sectors have the features of the inter-industrial specialization. There is a correlation between the level of specialization and export importance of a particular service sector, since the sector of tourism and travel- related services realizes the largest percentage in the export of all services of Republic of Croatia. After the sector of tourism and travel-related services, the construction services are second on the list of value of indicators of the export competitiveness, followed by the ICT services and the services of transport. From the above mentioned, it can be concluded that the priority service sectors, to which Republic of Croatia should focus because of creation of the national comparative advantage, are the sector of tourism, travel-related sector, transportation sector and sector of ICT services.

Impression management is a concept that has been developed in the field of social psychology and has initially been used in individual behaviour analysis. With time the concept broadened and has found its usage in the field of economics, especially in the financial reporting domain. Generally, impression management can be described as usage of certain reporting techniques with the specific aim of improving image of the company among public. This topic is rather appealing and relevant in the time period following the global financial crisis and in time of increased global competition among companies. In this paper the authors will present a literature review of existing research on the topic of impression management. Various impression management techniques used by companies in financial reporting will be explored. Special accentuation will be made on presentation of distinctions found by research studies on impression management techniques usage in companies of various samples (for example different countries, company size and company orientation). Expected contribution of the paper is twofold: firstly, the authors will present a literature review and synthetize the results of available research on the topic of impression management techniques in financial reporting and secondly, a critical review will be made on potential gaps present in available research.

Kriteriji konvergencije ili maastrichtski kriteriji, kako se još nazivaju, nisu preduvjet za ulazak u Europsku uniju, već za uvođenje eura kao nacionalne valute. Tek kada država postane članicom Europske unije može, u ovisnosti o ispunjavanju kriterija konvergencije i uspješnosti sudjelovanja u tečajnom mehanizmu ERM II, a nakon što dobije odobrenje, uvesti euro. U ovom radu se puna pozornost posvećuje nominalnim kriterijima konvergencije te se, osim metodološkog uvida u svaki od tih kriterija, raspravlja o razini njihova ispunjavanja u Republici Hrvatskoj. Također, u radu se upućuje na područja u kojima je potrebno postići napredak s ciljem osiguravanja dobrog početnog položaja za sudjelovanje u tečajnom mehanizmu ERM II i time što skorije mogućnosti uvođenja eura kao nacionalne valute.

Nowadays banks operate in changing environment influenced by regulatory requirements, emerging risk types and competition on the market. At the same time banks have available large datasets arising from internal and external sources. The potential for this data usage in risk management has only recently been discovered and has not been the subject of extensive scientific research. There are two goals of this paper. Firstly, authors give an overview of available scientific literature and practical research related to big data usage in risk management in banks. Secondly, based on the literature review authors are presenting framework with specified detailed use of big data in specific key risk management areas. Expected contribution of this paper is in presenting framework that can be used for practical purposes in banking industry as a matrix for using big data in certain risk management area. Second expected contribution is in increasing scientific public awareness on the topic and on the potential of research in the field of big data technologies usage in risk management in banks.

The Basel Committee on Banking Supervision introduced operational risk framework in banking starting from 2004. Operational risk is generally defined as the risk of financial loss arising from inadequate or failed internal processes, people, systems or external events. According to the Basel Committee there are seven event types that can cause operational risk and these include: (1) internal fraud, (2) external fraud, (3) employment practices and workplace safety, (4) clients, products and business practice, (5) damage to physical asset, (6) business disruption and systems failure and (7) execution, process and delivery management. Operational risk is immanent to every business process in organisation and can therefore have significant material and even more reputational consequences for organisation. Having in mind the sensitivity of credit institutions to reputational risk it is evident that the impact of operational risk on business activity is significant. There are several aims of this paper. Firstly, authors will give an overview of operational risk management framework and operational risk events that may occur in banking practice will be identified. Secondly, an overview of regulatory requirements regarding operational risk will be presented with special accent put on historical lessons learned in the decade since operational risk regulatory framework has been introduced. Thirdly, operational risk practices in Croatian credit institutions will be analysed based on publicly available data. The last mentioned aspect is of special importance when having in mind the relationship between operational and reputational risk on one hand and principal – agent theory on the other. Expected contributions of this paper are: detailed systematic analysis of operational risk management framework in banking, increased awareness of scientific community about operational risk and an analysis of Croatian credit institutions’ exposure to operational risk.

Inozemna izravna ulaganja snažan su poticaj gospodarskom rastu i razvoju, zbog čega se često spominju kao jedan od strateških ciljeva mnogih manje razvijenih zemalja. Opće je prihvaćen stav da priljev inozemnih izravnih ulaganja može utjecati na izvoz zemlje primateljice ulaganja. Cilj ovog rada jest istražiti je li priljev inozemnih izravnih ulaganja u Republiku Hrvatsku imao utjecaj na izvoz usluga Republike Hrvatske, tj. na izvoz usluga zemlje neto primateljice inozemnih izravnih ulaganja. Koristeći se metodom najmanjih kvadrata za priljev inozemnih izravnih ulaganja u Republiku Hrvatsku između 1993. i 2013. godine, pokazalo se da su inozemna izravna ulaganja pozitivno utjecala na izvoz usluga, ali je taj utjecaj bio relativno slab, što ukazuje na to da postoji potencijal za povećanje izvoza usluga privlačenjem dodatnih inozemnih izravnih ulaganja u zemlju.

The goal of this paper is to analyze the impact of reduction of the state incentive funds (SIF) on the number of closed saving agreement. Based upon the analysis of the correlation of the amount of the SIF and the number of closed housing saving contracts in Republic of Croatia, it is evident that the reduction of the amount of SIF to the lowest limits, or cessation of the SIF for the housing saving, would make the housing saving banks unattractive to the potential, but also the present depositors ; therefore, the system of housing saving without the SIF would hardly survive. Despite the current announcements of the canceling of the SIF and the questionable survival of the housing saving system, the active management of the SIF should be introduced, so that the largest amount of SIF is allocated to the saving customers who take the housing credit after the cessation of the housing saving agreement ; slightly lower amount should be allocated to the saving customers who do not take the credit after the cessation of the agreement, but spend the funds for the housing needs ; and the lowest amount of SIF is allocated to the saving customers who are saving without a defined purpose. The advantages of the housing saving system for the state are generally reflected in generating the employment and additional value (economical effects), as well as in the payments into the state and local budgets (fiscal effects). When the depositor takes his/her savings without using of the credit, there are positive effects generated for the state, because after the payment of the funds, in almost half of cases, the depositors spend the funds partially or completely for the purpose of improvement of the quality of housing. Also, the housing credits are strictly controlled, which reduces the underground economy.

The purpose of this paper is to describe and explain the method and the importance of measuring and determining the competitiveness of national economies. This paper will present the situation of Croatian competitiveness compared to other European countries. The goal is to determine areas in which Republic of Croatia lags most and in which areas are potentials for development and increase of competitiveness. The great importance for small economies are their degree of openness, therefore the participation in international trade. As the national economy is more open and with the increase of the level of imports and exports, it is more foreign competition in the domestic market, which leads to higher inflows of innovation. Also, domestic enterprises are being forced to introduce new technologies and modern achievements in their business in order to remain competitive, which raises the level of the competitiveness of the entire national economy. The growth of the competitiveness of a country has multiple effects on its economic growth and development. According to analyzed indicators of competitiveness (the global competitiveness indeks and the human development index) it's encouraging that position of Republic of Croatia in relation to comparable countires is generally improving. However, changes are needed in the area of labor market reforms, macroeconomic environment, a stronger stimulation of foreign investment, education, and innovation and new technologies should become priorities to government and business policy. For the Republic of Croatia, as economically small country, the growth of competitiveness is of a great importance, because this helps not only faster economic growth and new employment, but also indirectly reduce poverty, social inequality and increase social inclusion of population.

Teška gospodarska situacija te kompleksni uvjeti poslovanja prisiljavaju poduzeća da zajednički s ostalim sudionicima lanca opskrbe usklađuju i koordiniraju materijalne, financijske i informacijske tokove. Za efikasno funkcioniranje lanca opskrbe bitno je optimiziranje istog kao cjeline i to na način da se minimiziraju troškovi i uklone aktivnosti koje ne dodaju vrijednost. Budući da je jedan od temeljnih generatora uspješnog upravljanja lancem opskrbe informacija, a informacije nastaju procesuiranjem i povezivanjem matičnih podataka, od izuzetne je važnosti prepoznati njihov utjecaj na povećanje efikasnosti i smanjenje troškova poslovanja. U radu su definirane smjernice povećanja kvalitete upravljanja matičnim podacima te se raspravlja i o utjecaju iste na učinkovitost lanca opskrbe.

Kretanje tokova prijevoza u nekoj zemlji usko je povezano s gospodarskim kretanjima. Obavljanje gospodarskih djelatnosti nezamislivo je bez dobro organiziranog prijevoza. Prijevoz osigutrava brzu i uspješnu razmjenu dobara i ljudi. U radu se analiziraju vremenske serije podataka broja prevezenih putnika i količine prevezenih roba u pojedinim granama prijevoza. Apostrofira se i analizira prijevoz u Republici Hrvatskoj po pojedinim granama, i to: željeznički, cestovni, pomorski i zračni prijevoz. Podaci o prijevoznim aktivnostima preuzeti su iz Statističkog ljetopisa Republike Hrvatske za 2011. godinu. U analizi kretanja tijekova prijevoza u radu su korištene srednje vrijednosti vremenskih nizova (statičke i dinamičke).

Suvremena logistika sve više naglašava potrebu integracije te filozofiju upravljanja cjelokupnim protokom robe, informacija, novca i usluga od ponude, nabave, proizvodnje, distribucije, prodaje pa sve do krajnjih potrošača. U promjenjivim uvjetima poslovanja integralna logistika pruža podršku operativnim marketinškim strategijama na način da omogućuje stvaranje kvalitetne usluge klijentu, a predstavlja i temelj na kojem poduzeće izgrađuje svoju konkurentsku prednost. Kolaboracija u lancu opskrbe povećava tržišni potencijal udruživanjem znanja partnera, a dvije glavne komponente upravljanja lancem opskrbe postaju integracija mreže, organizacija te koordinacija informacijskih, materijalnih i financijskih tokova. U žarištu koncepta upravljanja lancem opskrbe je koordinacija i povjerenje u poslovne partnere s ciljem postizanja sinergijskih efekata koji se očituju u postizanju većega poslovnog učinka kroz zajedničko djelovanje u odnosu na pojedinačno djelovanje poslovnog subjekta. Za učinkovito djelovanje lanca opskrbe važno je optimiziranje lanca kao cjeline minimiziranjem troškova i uklanjanjem aktivnosti koje ne dodaju vrijednost proizvodu s ciljem stvaranja što veće vrijednosti za krajnjeg potrošača.

Development of concepts of holistic solutions has long tradition in management of complex problems. In the period after World War II in various parts of the world appeared concepts that indicated growing complexity of business and social interdependence and aspired to integrated approach to solving problems. This approach was soon adapted by the system-oriented management that used principle of open systems in the study of business entities. Since business entities can also be regarded as systems, they are observed as separate set with specific goal and interconnected elements. Generally accepted definition is that business entity is a well known system of converting resources. Taking into account the temporal and situational elements, company process the resources, i.e. inputs (labor, ideas, capital, raw materials) into outputs (products, services, etc.) whose value is larger than total resource value, i.e. inputs necessary for their production, in the eyes of a group environment with which business entities cooperate. The fact that implies complexity is that in business entities observed as systems there are elements that are interconnected, where complexity can be defined with two components: structural and functional. Business entities and their environment are regulated units that operate and interact, while their relationships and positions subordinate their activity to numerous requests. Complexity of business entities and environment requires a systematic managerial approach because managing issues also becomes complex in structural and functional sense and their perception and understanding requires connections in temporal and contextual dimension. In so doing, the managing issue is manifested as issue of asking right questions because it is pointless to seek answers to badly formed questions. The mistake that most commonly occurs in management problems is the attitude how to manage existing business system with known managerial methods. During design of future business activity it is difficult to accept attitude that it will have same or similar decision-making structure, relations of functions etc. The aim of this paper is to show how straight thinking in management philosophy as well as its extensions of the present appear as wrong assumption. Therefore systems approach is proposed as alternative management approach.

Direktna strana ulaganja i nove tehnologije umnogome će odrediti budućnost hrvatskoga gospodarstva i bit će, na neki način, mjera uključenja u svjetske, a napose u europske gospodarske tokove i asocijacije. Upravo su strana ulaganja onaj kapital koji može dugoročno pomoći restrukturiranju hrvatskoga gospodarstva. Za ostvarivanje tog cilja pretpostavka je tržišna demokracija kao i ukupna demokracija društva.

Knjiga svojim sadržajem obrađuje područje primjenjene poslovne ekonomije i to kroz promišljanje o poduzećima od njihova nastanka, zatim samu ideju o poduzetničkom poduhvatu, preko postavljanja ciljeva, oblikovanja, upravljanja te kontrole odnosno mjerenja uspješnosti poslovanja. Razumijevanje poslovanja poduzeća u suvremenim procesima globalizacije i postojećim promjenama, implicira potrebu afirmacije poduzeća kao nositelja razvoja i u hrvatskom gospodarskom sustavu. Ekonomija za poduzetnike odnosi se na primjenu ekonomske teorije te znanstvenih metoda analize i donošenja odluka kako bi se preispitali efikasniji načini kako da određeno poduzeće postigne zacrtane ciljeve. Postizanje ciljeva uglavnom je ograničeno, kao i u bilo kojem sustavu povratne veze, određenim ograničenjima uvjetovanim smetnjama iz okruženja te unutar samih poduzeća. Bez obzira o kakvom se poslovnom subjektu odnosno poduzeću radilo ciljevi i njihova ograničenja su različiti, međutim određeni generički postupak kroz koji se provodi proces donošenja odluka biti će manje više isti. Integracijom ekonomske teorije i analitičkog okvira kao podloge donošenja poslovnih odluka, knjiga objedinjuje ova funkcionalno odvojena područja proučavanja. Knjiga koncepcijski proučavanu problematiku nastoji objasniti kroz tri cjeline i to kroz analizu poslovanja poduzeća, zatim kroz primjenu teoretskih saznanja o troškovima na stvarnim problemima odlučivanja te kroz cjelinu analize povezivanja ciljeva poslovanja s određenim poslovnim politikama i njihovih posljedica na konkutentski položaj poduzeća.

Opredjeljenjem Hrvatske za razvitak turističke djelatnosti te spoznaja o važnosti hrvatskog prostora za tranzitni promet, potrebno je težiti realizaciji scenarija "ekološka snošljivost", jer se prirodni izvori, ljepote krajolika, zdrav i čist okoliš te ljudsko zdravlje ne mogu nadomjestiti ako su jednom ugroženi ili potrošeni. shodno tome neosporna je potreba prometne politike da budući razvitak prometa postane predmet većeg interesa znanstvenih i stručnih institucija i pojedinaca te znatnije potpore društva. Upravo stoga prometnu politiku valja promatrati kao okvir i temeljno opredjeljenje za dostizanje trajno uravnoteženog razvitka i funkcioniranja prometa, a istovremeno i kao uvjet gospodarskog, socijalnog i prostornog razvoja Hrvatske. Provedeno istraživanje pokazalo je da će europski prometni sustav i europski scenarij razvitka imati snažan utjecaj na razvitak prometnog sustava Hrvatske. Sve to, naravno, iziskuje brže uvođenje i korištenje inteligentnih prometnih sustava uz primjenu informacijskih i telekomunikacijskih tehnologija.

Rapid development of the information technology, increasing number of the participants in the capital markets, and the appearance of large number of institutional investors, created the new trends in business. Large number of these changes is reflected in the understanding of the existence and the goals of the business. The development and deregulation of the capital market have resulted in the following phenomenom: for many firms, to be present in the capital market does not mean any more to gain the financial resources, but also to create a positive image through higher prices of their shares. The capital is mobile, and its owners choose only those investments and instruments that ensure the satisfying return, related to the level of the risk they took. Academic community, as well as the consulting firms, have presented "new" measures of performance, like EVA (Economic Value Added), CFROI (Cahs Flow Return in Investment) and SVA (Shareholder Value Added), as well as some similar measures stemming from the concept of value based management. Tha main goal of the paper is to study the potentials of implementation of the above mentioned measures in Croatian business practice, with special emphasis on the research of the structural features of the capital market, which represents the important source of information regarding the establishment of the common key element for every new measures of performance, i.e. capital costs.

Good knowledge about the market segments is base for quality marketing decisionc. That process is additionaly improved by the use and implementation of the geographic information. Behavior of the contemporary consumer, his/her mobility and the openness of the borders require better integration of the geographic information, so the procedure of locating and directing the marketing activities can be as effective as possible. The use of geo-marketing softwarw is aimed at simplification of the complexity of the consumer behavior. Standard data bases, whose content is based mostly on social - demographic data, are not enough for understanding of the consumers ; therefore the spatial marketing approach is developed, based upon the behavior of the consumer of a specific territory. In such way, the geography, as the part of geo-marketing, becomes an important component of marketing as a whole. The use of geographic information system enables various forms of visualization of spatial data. Using the available human and technological resorces, this system manages and analyzes geographical aspect of the collected data.

Rapid development of the information technology, increasing number of the participants in the capital markets, and the appereance of large number of institutional investors, created the new trend sin business. Large number of these changes is reflected in the understanding of the existence and the goals of the business. The development and deregulation of the capital market have resulted in the following phenomenon: for many firms, to be present in the capital market does not mean any more to gain the financial resources, but also to create a apositive image through higher prices of their shares. A capital is mobile, and its owners choose only those investments and instruments that ensure the satisfying return, related to the level of the risk they took. In search for better investment possibilities, they will invest their money even across the national boundaries. Therefore, it is more and more often emphasized that creation of the additional value, whether viewed from the standpoint of the individual investment or the whole firm, represents the basic goal of every management which menages some kind of business activity.

U radu su iznijeti oblici trgovanja pri korištenju mobilnog telefona. Razrađene su sve vrste poslova, te su iznijete sve prednosti m-trgovanja.

Temeljna zadaća knjige je na sustavan način upoznati studente s elementarnim pojmovima i metodama te osnovnim polazištima u analizi i rješavanju ekonomskih problema. U suvremenim uvjetima poslovanja, brzim društvenim i ekonomskim promjenama , kulturnom razvoju i utjecajima globalizacije poznavanje osnovnih sadržaja poslovne ekonomije od vitalnog je značenja. Knjiga je u prvom redu namijenjena studentima, no korisna je i drugim stručnjacima i zaposlenima u poduzećima.

The increasing number of participants in the capital market, as well as the increasing number of institutionalised investors, has created new trend sin business. Large part of these trends reflects in the understanding of the reasons of existence and goals of the company business operations. In the context of such consideration, the company business operations are successful only if the company menages are able to fulfill the goal of creating the value added, i.e. to increase the wealth of the shareholders. Traditional measures of performance, which are based on accounting measurement, have been subjected to many criticism, which emphasize many shortcomings. Because these measures are not adequate for measuring the new value added, academic community, as well as the consulting firms, have presented "new" measures of performance. The basic goal of this paper is to review the criticism pointed to the traditional measures, to review some of new measures of performance, and to make comparison between the traditional and new measures of performance based on the fulfillment of criteria set by the basic purpose of the company business, that is, increase of its value.

Quality of tourism offer and tourist services represents "condicio sine qua non" of successful development of tourism. In such context (contribute) of post for development of tourism is observed. Accessbility of postal network, quality and quick servise, unique charges and quick servise, unique charges and high adaptability to market demands, these are basic advantages through which post competes on very demanding market. Besides providing neccesary communication infrastructure and quality service, post appears as an important direct promoter of tourusm.

One of the currently growing media of direct marketing is the so-called telemarketing, an alternative name for sale done using the phone. it is often used in correlation with other media, where it is used as feedback. The development of telemarketing began with the development of telephone services, which were spearheaded in the early 1970's by leading telephone companies. The first name of the new medium was telephone marketing, to be named telemarketing some time later by the AT&T telephone company. Services which surfaced then gave the buyer an opinion to use a toll-free number (0800-xxxxxxx), to contact the seller, and they gave the seller possibilities of offering various service and support option to buyers. by using the tool-free numbers, large companies significantly cut their costs of support and services for their products, not to mention cutting the number of employees previously needed for these tasks. Newer digital telephone operators allow interaction through which the buyer may, choosing a certin number, for example, send a question to the seller, order a product, and get information about a certin product or contact a person in charge of services.

Suvremeno gospodarstvo, međusobna razmjena i turizam zahtijevaju djelotvoran prometni sustav koji je u stanju zadovoljiti prometnu potražnju primjenom suvremenih transportnih tehnologija. Prijedlozi osnovnih prometnih koridora te njihova izgradnja omogućit će optimalno povezivanje Hrvatske i uključivanje u Europske prometne koridore. Stoga je od temeljnog značenja uspostavljanje prometnog povezivanja sa susjednim državama kao i unutarnje regionalno povezivanje. Bez razvijene mreže prometnica Hrvatska u svom razvitku teško može uhvatiti korak s Europskom unijom.

Quality of tourism offer and tourist services represents "condicio sine qua non" of successful development of tourism. As a tourist service consist of knot of services, from basic tourist services to complementary services such as transport of passangers and goods, trade, handicraft trades, arrangement of environment, economic events, as well as financial and communication services of institutions such as banks, post, telecommunications..., it is necessary to act synergistically to increase quality of such service. In such context (contribute) of post for development of tourism is observed. Accessbility of postal network, quality and quick servise, unique charges and quick servise, unique charges and high adaptability to market demands, these are basic advantages through which post competes on very demanding market. Besides providing neccesary communication infrastructure and quality service, post appears as an important direct promoter of tourusm, and that is additionally stressed thought adoption and implementation of programme of cleaner production and protection of environment.

Rast društvenih mreža sa sobom je otvorio mogućnosti brojnim pojedincima koji su uvidjeli njihov potencijal. Tako fenomen utjecajnog marketinga, iako relativno nov pojam u svijetu marketinga, zadnjih nekoliko godina dobiva na značenju te se sve češće uključuje u media planove poduzeća. Pojedince koji su svojim trudom i plasiranjem sadržaja na društvene mreže dobile i niz sljedbenika nad kojim imaju mogućnost „utjecanja“ primijetila su i brojna poduzeća koja su odlučila upravo pomoću njih postići svoje marketinške ciljeve. Koliko ti pojedinci, nazivani i utjecajne osobe (engl. influenceri), zbilja mogu utjecati na kupce pitanje je koje je postavljeno prilikom pisanja ovog rada. Rad pruža teorijsku osnovu o pojmu utjecajnog marketinga kao i prikaz kvalitativnog istraživanja provedenog na utjecajnim osobama u Republici Hrvatskoj, sve kako bi se došlo do odgovora u kojoj mjeri oni utječu na kupovne odluke njihovih pratitelja te u kojoj fazi procesa donošenja odluke o kupnji je taj utjecaj najveći., The growth of social networks has opened up opportunities for many individuals who have realized the potential of social networks. Thus, the phenomenon of influencer marketing, although a relatively new concept in the world of marketing, has gained in importance in the last few years and is increasingly included in almost every company media plan. Individuals who, through their efforts and the placement of content on social networks, have gained a number of followers over whom they have the opportunity to "influence" have been noticed by numerous companies that have decided to use them in order to achieve their marketing goals. How much these individuals, also called influencers, can really influence customers is a question that was asked when writing this paper. The paper provides a theoretical basis on the concept of influencer marketing as well as a review of qualitative research conducted on influencers in the Republic of Croatia, all in order to find an answer to what extent they influence the purchasing decisions of their followers and at what stage of the purchasing decision making process their influence is the largest according to them.

This research investigates the impact of perceived benefits, perceived risks, hedonistic motivations, perceptions of trust and security, and web design on customer behavior in online shopping. Based on previous research, the conceptual framework of this research was developed, and hypotheses were formed. To test the hypotheses, the method of modeling structural equations using SPSS AMOS 26 was used. The research was conducted through a questionnaire, and 240 answers were collected from respondents in the Republic of Croatia. The research results show that hedonistic motivations have a significant positive impact on consumer behavior in online shopping while the web design does not. It was also found that perceived risks and perceptions of online shopping's trust and security do not have a significant negative impact on consumer behavior in online shopping. A statistically significant positive effect of perceived benefit on online shopping behavior was also not found. In addition to new scientific knowledge, the research results can be useful to marketing experts in shaping marketing and sales strategies in the online environment.

Razvoj komunikacijskih tehnologija te povećanje potražnje za informatičkom potporom utjecao je na porast obujma poslovanja globalnih informatičkih poduzeća. Zbog toga primjetan je ulazak novih informatičkih poduzeća na tržište, što pridonosi povećanju njihove međusobne konkurentnosti. Kako bi stekli određenu prepoznatljivost i uspjeh na tržištu informatička poduzeća ulažu značajna sredstva u marketinške aktivnosti poput promidžbe, sponzorstva, reprezentacije i slično. Budući da troškovi marketinških aktivnosti zauzimaju sve veće udjele u ukupnoj strukturi troškova poslovanja nameće se potreba za njihovim dubljim istraživanjem. Stoga, predmet istraživanja ovog rada čine troškovi marketinških aktivnosti informatičkih poduzeća. Konkretno, ovim radom provodi se dubinska analiza financijskih izvještaja informatičkih poduzeća u Republici Hrvatskoj s ciljem da se na znanstveno utemeljen način utvrdi: visina investicija u marketinške aktivnosti, najčešći oblik marketinške aktivnosti u koji promatrana poduzeća ulažu te u konačnici da se utvrdi postoji li korelacija između visine ostvarene dobiti i investicije u marketinške aktivnosti. Marketinške aktivnosti koje su obuhvaćene ovim istraživanjem su reprezentacija, promidžba, sponzorstvo i donacije. Za potrebe istraživanja na stranici Financijske agencije odabran je uzorak srednjih i velikih poduzeća koja se prema Nacionalnoj klasifikaciji djelatnosti (NKD 2007) ubrajaju u odjeljak J62 - Računalno programiranje, savjetovanje i djelatnosti povezane s njima te odjeljak J63 - Informacijske uslužne djelatnosti. Razdoblje promatranja je od 2015. do 2018. godine. Rezultati istraživanja pokazuju kako značajna većina poduzeća od promatranih marketinških aktivnosti najviše investira u reprezentaciju. Također, dobiveni rezultati pokazuju kako u marketinške aktivnosti više ulažu srednja informatička poduzeća koja su u promatranom razdoblju uložila 3, 5 milijuna kuna, dok su velika informatička poduzeća u istom razdoblju uložila tek 2, 4 milijuna kuna. Isto tako, utvrđeno je kako između iznosa ulaganja u marketinške aktivnosti i dobiti razdoblja koju poduzeća ostvaruju ne postoji pozitivna korelacija.

Cilj ovog rada je istražiti povezanost pouzdanosti online kupovine, kvalitete online kupovine i sigurnosti online kupovine sa zadovoljstvom klijenata u online kupnji. Temeljem toga napravljen je konceptualni model istraživanja te su formirane hipoteze koje su provjerene metodom modeliranja strukturnih jednadžbi korištenjem programskog paketa SPSS AMOS 26. Istraživanje putem anketnog upitnika obuhvatilo je 340 ispitanika na području Republike Hrvatske. Dobiveni rezultati istraživanja pokazuju da postoji povezanost svih triju čimbenika sa zadovoljstvom klijenata. Pored novih znanstvenih spoznaja rezultati istraživanja mogu pomoći poslovnim organizacijama u lakšem prepoznavanju čimbenika i njihovog utjecaja na zadovoljstvo klijenata u online kupovini., This paper aim to investigate the relationship between the three variables (reliability of online shopping, the quality of online shopping and the security of online shopping) with customer satisfaction in online shopping. Based on this, a conceptual research model was created and hypotheses were formed, which were tested by the method of structural equation modeling using the software package SPSS AMOS 26. The survey through a questionnaire included 340 respondents in the Republic of Croatia. The obtained research results show that there is a connection between all three factors and customer satisfaction. In addition to new scientific knowledge, the results of the research can help businesses to more easily identify the factors and their impact on customer satisfaction in online shopping.