The crisis with the COVID-19 pandemic shows investors, policy makers and the general public that natural disasters can cause economic damage on an unprecedented scale. The pandemic has made customer ...experience even more differentiated, so banks, financial service providers and insurance companies need to optimize their operations and transform existing business models to meet new requirements and withstand competitive pressure. Because the processes are the "veins" of a highly regulated business, they must adapt to unprecedented change. Changing business models, disruptive technologies, and compliance pressures are forcing traditional institutions to reorganize the way they do business. Digital transformation, the macro trend that has defined the past decade, has accelerated at an incredible rate during 2020. Creative new solutions are made out of the need for people to connect despite physical distance. In addition, customer expectations have changed, so many of them want to be provided with ongoing personalized services. But moving from the old service delivery system to modern solutions has never been an easy task.
The world is fundamentally changing , which leads to dramatic changes in opportunities and risks. In this regard, banks are facing three interrelated fundamental changes. First, the digital ...revolution has drastically increased the availability and use of data and the speed of decision-making. Second, technological innovation accelerates changes in the competitive and consumer environment in which banks operate. Finally, hyperconnection multiplies the speed of information flow and reshapes the way people think and act, influencing the nature of a bank's relationship with its customers and other stakeholders. The unprecedented speed of change and the high degree of uncertainty suggest the need to introduce different approaches to risk. For banks and other financial institutions, threats arise inside and out, ranging from inappropriate and illegal behavior by employees, to sophisticated cybercrime, trade wars and climate change. As a result, risk functions need to become more dynamic and flexible, they need to help guide institutions through a complex and changing environment of opportunities and risks, while meeting new expectations key actors - regulators, legislators, shareholders, customers (clients) and the community as a whole. The paper especially emphasizes the issue of fraud, various forms of financial crime in relation to cyber security.
Organizations face a number of decisions in designing their supply chains, which include the number, type and location of production facilities, distribution centers, retail facilities, service or ...technical support centers, supplier selection, supply chain information management and integration of all parts. into an efficient and effective system. Improper supply chain design can undermine an organization's strategy, lead to lower revenues, less competitiveness, market share and profits. As product lines and markets change or expand, the design or redesign of supply chains becomes an even more critical issue. The risks to which supply chains are exposed are different, and their functioning can be disrupted by a number of situations, which have had serious global consequences in the past. In addition to wars, nuclear accidents, cataclysmic earthquakes, volcanic eruptions, explosions, fires and tsunamis, epidemics of SARS, MERS, HIV, Ebola and Zika viruses, as well as the latest Covid-19 pandemic, have led to the knowledge that humanity is powerless in the face of such catastrophes. Regardless of the achievements in science, extensive and long-term medical research, epidemics (pandemics) have taken millions of lives and had negative effects on society as a whole, but also on the efficiency of business and supply chains. Past epidemics have attracted the attention of scientists and industry experts, resulting in the need to reengineer organizations and adjust supply chains to future challenges. In the context of the current pandemic, serious disturbances have been reported, so a large number of industries have had unprecedented consequences. Responses to such epidemics suggest that global supply chains need to be more integrated and digitally ready. Digitization of supply chains could improve the quality of responses to epidemic-related disorders by increasing their flexibility in such circumstances. This paper identifies the most important disruptions and measures to mitigate the consequences of these disruptions in global supply chains, as well as risk management in conditions of uncertainty.
Faced with a demographic boom, enormous urbanization and a lack of agricultural land, traditional agricultural production is losing pace with new needs and demands. Due to the increased demand for ...food, efforts are being made to develop technologies that would improve production, with the sustainable use of existing resources. Solving this challenge is possible by introducing Internet of Things technologies, satellite navigation, mobile communications and ubiquitous computing, which is called smart agriculture. The main goals of smart agriculture are to increase yields (provide information needed to analyze and make decisions that will maximize yields), efficient water use, more efficient agricultural operations (automation of daily activities, real-time monitoring, advanced analytics, daily and seasonal forecasting), cooperation with suppliers and public administration are more efficient and take place in real time). This article highlights the potential of the Internet of Things, big data and drones in agriculture, as well as the challenges of applying these technologies in relation to traditional agricultural practices.
The Metaverse represents a new phase of technological development, integrating virtual reality, augmented reality, blockchain, and artificial intelligence to create immersive digital environments. ...This paper explores the historical context, technical foundations, and social implications of the Metaverse. Through the evolution of virtual worlds and technological advancements, the Metaverse is becoming increasingly prevalent, offering richer socialization experiences and economic opportunities while simultaneously raising concerns about privacy, security, and media addiction. National policies and the attitudes of international organizations also play a crucial role in shaping the future of the Metaverse, with different countries having different strategies and priorities. The paper examines theoretical perspectives and future research directions, along with recommendations for responsible management of the Metaverse. Proper regulation and design can ensure that the potential of the Metaverse enriches human experience while safeguarding social well-being.
Superstructures are explored that were obtained by multilayer magnetron deposition at room temperature of 20 SiO2 and SiO2:Ge bilayers, each 2 × 4 nm thick, and subsequently annealed in inert N2 ...atmosphere at different temperatures in the range of 500–750 °C. The structural and optical changes induced by annealing and the formation and growth of Ge nanoparticles (nps) from early clusters to their full growth and final dissolution were studied by the simultaneous grazing-incidence small- and wide-angle X-ray scattering, transmission electron microscopy, and (time-resolved) photoluminescence (PL). It is shown that in as-deposited multilayers aggregation of small clusters already occurred, and the clusters were reasonably well intercorrelated in the lateral plane. During annealing at T a = 550 °C or higher temperatures, Ge nps start to form and remain partly amorphous at lower T a but crystallize completely at about 600 °C. At even higher temperatures, the Ge nps dissolve and Ge diffuses out almost completely, leaving voids in the SiO2 matrix. Visible PL from the samples was detected and attributed to defects in the nps/matrix interface layers rather than to the nps itself because PL persisted even after Ge nps dissolution.
Some of mechanical, electrical, and thermal properties of the Al–(Nb, Mo, Ta, W) binary thin films which are important for the stability and usability of the amorphous alloys were examined. Samples ...were prepared by magnetron deposition technique in wide range of composition onto various substrates held at room temperature. Different experimental techniques were used for the characterization of samples. The results of structural relaxation and crystallization measurements under isochronal conditions are compared with the results of measurements of micro/nano hardness and strain in the films. From the micro/nano hardness measurement, the elastic deformation energy fraction is calculated. The elastic deformation energy fraction is correlated with the various results obtained from electrical resistivity measurements under isochronal conditions. Particular emphasis was placed on the Al–Mo amorphous alloys. It turns out that elastic deformation energy fraction becomes important indicator and phenomenological correlation parameter between various physical properties of examined films.
The coronavirus pandemic has caused unprecedented problems, both economically and organizationally, healthily and socially. Among the most affected industries are tourism and hospitality. The ...introduction of quarantine, the inability to travel and the restriction of movement, as well as the decline in interest, have led to enormous financial losses for hotels and restaurants around the world, and redundancies. The connection between tourist organizations, carriers and hotels was suddenly severed, so that the entire tourist season in 2020 failed. When you look at the assumptions about the recovery of the tourism industry, it is obvious that the situation is not good, it is even devastating. The multi-year trend of progress and development, which brought in large incomes and employed millions of people around the world, was interrupted. It will not be possible to return to the level from 2019 for at least a year or two, so different scenarios are mentioned, from moderate to pessimistic. In that sense, the biggest loss will be the dismissal of more than 100 million employees in the sector worldwide, as well as the large losses of airlines and carriers. Since the losses are almost irreparable, agencies, hotels, restaurants, airlines and tour operators have sought the help of their governments, in order to overcome the catastrophic situation to some extent. First, assistance was offered to airlines in America and Europe, and later in Asia (South Korea, Singapore, Malaysia). Later, with the apparent extension of the pandemic, governments began to consider the need to provide funds for the financial consolidation of hotels, restaurants and tour operators. That support varies from country to country, from company to company.
Digital marketing has been intensively developing in domestic business practice for the last 10-15 years and is keeping pace with the development of information technologies. Digitization of business ...has opened up a completely new business horizon for companies and has created unlimited opportunities for business development. In the sphere of electronic business, digital marketing has become so important that modern business cannot be imagined without it. The possibilities of applying digital marketing do not depend on the size of the company, so even small and medium-sized companies have the obligation to keep up with trends, to acquire digital literacy and to develop effective digital marketing strategies. The subject of research in this paper is the use of digital marketing in small and medium-sized enterprises in Serbia. The authors of the paper conducted empirical research in the period September-November 2020 on a sample of 87 SMEs operating in Serbia. For the purposes of the research, a Google questionnaire was used, which was distributed electronically to the respondents. The structure of respondents consists of entrepreneurs (business owners), managers and employees. The first part of the questionnaire contains formal questions, while the second part contains professional questions in the field of Internet marketing. This paper will present the results of the research with a discussion and analysis of the answers received, along with drawing conclusions and recommendations for future research.
The coronavirus pandemic is an unprecedented event in modern history, not only of aviation, but also of humanity. The negative consequences of the pandemic are not only related to the suspension of ...flights and the inability to transport passengers, but also have a great impact on other industries, such as the production of aircraft, systems and engines, tourism, the food industry, etc. The suspension of flights has led to many times lower revenues than planned, the dismissal of a large number of employees in this industry, as well as the cancellation of new airplanes ordered. Also, the prescribed health care measures that airlines must apply will affect a smaller number of passengers on planes, which means that each flight will be less cost-effective. Faced with large losses, airlines must organize in order to achieve maximum efficiency and a partial return to the levels of flying and transportation of people and goods that were achieved during 2019. The paper analyses the state and importance of the global aviation industry, the impact of the pandemic on business results and solving the problems of airlines.
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