Decision making and management are synonyms. Banks are facing a number of business risks and operational risk is prevalent. Risk management is related to making decisions; therefore, it is important ...for the whole organization. The aim of this paper is to develop a decision-making system when choosing the method of operational risk management by using the Analytical Hierarchical Process (AHP). AHP is an efficient process in solving decision-making problems. The final decision depends on the evaluation of a set of alternatives and decision criteria. Therefore, AHP defines the criteria related to operational risk and the alternatives that the bank management can undertake in order to successfully manage operational risk. The main purpose of the process is to find appropriate solutions for defined user factors in the current competitive environment. The results, obtained by the classical numerical method show that External Factors is the dominant criterion, especially during the financial crisis or the Covid pandemic, and that solutions should be sought in international standards along with using the control tools created by banks themselves.
This paper delves into the concept of socially responsible marketing and its significance in fostering diversity, equity, and inclusion within organizational environments. It elucidates the ...connection between marketing and corporate social responsibility (CSR), showcasing methods of integrating social responsibility into marketing activities. Ethical principles inherent in socially responsible marketing are delineated, along with examples of CSR programs and projects within marketing initiatives. Furthermore, the paper explores the context and nature of diversity management policies and practices in organizations, highlighting the need for aligning marketing efforts with inclusive practices. It delves into the perception of various antecedents and consequences of diversity, equity, and inclusion at individual, group, and organizational levels, emphasizing the role of marketing in shaping perceptions and fostering inclusivity. Additionally, the paper addresses systemic, structural, organizational, institutional, cultural, and societal obstacles related to diversity, equity, and inclusion, underscoring the importance of socially responsible marketing in overcoming these challenges. It provides insights into how marketing initiatives can contribute to dismantling barriers and promoting diversity and inclusion within diverse organizational settings and workplaces. In conclusion, the paper underscores the pivotal role of socially responsible marketing in advancing diversity, equity, and inclusion agendas within organizational settings. It emphasizes the need for ethical and inclusive marketing practices and offers recommendations for incorporating social responsibility into marketing strategies to foster a more inclusive and equitable business environment.
The application of Newton's law of gravity in explaining international trade proved to be very successful. The popularity of a gravity model for explaining trade flows has been due to the fact that ...the calculations require affordable data for every economy. The basic elements of the panel gravity model are mainly GDP, population and distance. This paper analyses Serbia's trade from 2001 to 2018 based on the experience of neighbouring countries of Croatia and Romania, using STATA software. The trade exchange with more distanced EU members is less realized. The country tends to trade much more with its neighbouring EU members, proving the basic assumption of a gravity model. There are exceptions regarding some parts of the trade with developed EU economies, regardless of their distance. These relations will help us to evaluate the trade pattern and direction of Serbian trade in the EU accession process using a gravity model.
Abstract Background In the dynamic realm of business, ethics serves as a critical compass, guiding the delineation between right and wrong actions. Gaining momentum as a focal point within ...organisational discourse, the concept of ethics has burgeoned into a cornerstone element of corporate identity and operations. Objectives This study aims to dissect the theoretical underpinnings of moral virtues—specifically wisdom, justice, courage, and restraint—and their intersection with the managerial profession and associated personality traits. We propose the extension of the Mintzberg model of managerial traits from the perspective of virtue ethics. Methods/Approach Employing a theoretical review methodology, this investigation traverses through each identified moral virtue, engaging with contemporary research and scholarly publications within the domain of virtue ethics. Results The analysis affirms that virtue ethics, with its emphasis on character and morality, is instrumental in shaping the framework for managerial conduct and decision-making. The exploration identifies a symbiotic relationship between managerial virtues within the Mintzberg model of managerial traits, highlighting how these elements collectively contribute to the effectiveness and ethical grounding of managerial practices. Conclusions The findings underscore the indispensability of moral virtues and specific personality traits in the cultivation of proficient and ethically oriented managerial professionals. The extended Mintzberg model can be a relevant starting point for a more detailed discussion regarding virtue ethics in a globalised economy.
U današnjem modernom i turbulentnom poslovnom okruženju malim i srednjim poduzećima vrlo teško je prevladati svakodnevne izazove bez uvođenja inovacija u svoje poslovne modele. Međutim, inovacije ...uobičajeno nisu jeftine te ih nije jednostavno implementirati. Štoviše, nemaju svi mali i srednji poduzetnici mogućnost i znanje za pristup svim načinima financiranja inovacija. Stoga, cilj ovog rada je ispitati kako SMEs koriste metode financiranja za svoje inovacije u sjevernom dijelu Hrvatske, tj. u području Podravine. Empirijsko istraživanje provodi se s namjerom da se analizira kako SMEs financiraju svoje inovacije, te koriste li se vlastitim izvorima financiranja ili EU fondovima/državnim agencijama. Vrlo je zanimljivo primijetiti da se većina analiziranih SMEs i dalje koristi staromodnim načinima financiranja inovacija, iako su im na raspolaganju vrlo jeftini i vrlo pristupačni načini financiranja.
Strategic networking represents a strategic intent of the firm to develop meaningful and sustainable long-term coopetitional business relationships with various market players. Through such market ...relationships, the focal firm can focus on the further development of its own core competences and simultaneously garner the network benefits. The purpose of this article is to examine the role and the level of influence strategic networking has on the performance of Croatian manufacturing SMEs. The relationship between strategic networking and business performance has been further tested by looking into a set of financial and non-financial performance indicators, where moderating role of the external environment has been used to even further explore the observed relationship. Although unidimensional analysis reveals positive influence of strategic networking on business performance, that is not the case when multidimensional analysis is applied, where only the reputation among other strategic networking antecedents has a significantly positive influence. Therefore, it can be concluded that these research results are inconclusive, whether looking at the existence, strength or direction of the observed relationships, and require further research.
Green investments help to create less harmful alternatives and adequate funds that contribute to economic growth, sustainable development, and social well-being. The paper aims to evaluate decision ...making on the choice of green investments based on multi-criteria decision making (MCDM). The applied methods are empirical and analytical based on the study of the literature, multi-criteria modeling, the determination of weights, and the ranking of criteria in deciding the green investment mapping of indicators, and mapping the indicators. The research used groups of indicators that reflect the main characteristics of green growth from the OECD database. The idea is to decide on the best green investment based on green growth criteria, which consist of grouped indicators according to the areas of the green economy rather than according to their values. The results of the Analytical Hierarchy Process (AHP method) showed that half of the investments in the green economy come from public sources (0.51) and the other half are private (0.25) and institutional investors (0.24), while the Best/Worst Method (BWM) revealed that the best criterion for the decision to invest in the green economy is the environmental and resource productivity of the economy, and the worst is the base of natural assets. This paper aims to enable decision-makers to use these results as weights for the overall assessment of green investments in ESG and to simplify the decision-making approach in future analyses.
Ovaj rad istražuje analizu poslovnih problema malih i neovisnih trgovaca, njihov
utjecaj na razvoj gospodarstva sjeverozapadne Hrvatske, a posebno Varaždinske županije.
Budući da mali i neovisni ...trgovci imaju iznimnu važnost za trgovinu sjeverozapadne
Hrvatske kroz ovaj rad želi se prikazati njihov utjecaj na određene čimbenike u gospodarstvu,
te sintetizirati osnovne probleme koji utječu na njihov razvoj. Kroz empirijsko
istraživanje u radu se utvrđuju prednosti i slabosti neovisnih trgovaca, te važnosti potrebe
za njihovim dobrim pozicioniranjem na tržištu, ali i boljim povezivanjem sa stalnim i
potencijalnim potrošačima.
PDF
