<abstract xmlns="http://www.w3.org/1999/xhtml">This paper presents basic postulates of the institutional, organizational theory as a new research framework for understanding contemporary organizations structuring and functioning. More and more structures in modern societies are being institutionalized due to changes in technical, social, and political spheres. Organizations in institutionalized sectors do not prove their legitimacy by their rationality and effectiveness, but by implementation of the current institutional pattern. Institutional pattern has its regulatory, normative, and cultural-cognitive components, and it is imposed on organizations within a sector by means of coercive, normative, and mimetic mechanisms. The consequence of implementing of a uniform institutional pattern in the structuring and functioning of all organizations within a sector is organizational isomorphism. The described elements of the institutional, organizational theory are applied in the analysis of structuring and functioning of universities and faculties in the higher education sector in Europe and Serbia. It is shown how the Bologna Higher Education Model, as a typical institutional pattern, impacts structuring and functioning of all universities and faculties in the European higher education area, thereby implicating their organizational isomorphism.</abstract>

The Institutional Organizational Theory As A New Research Framework For Understanding Contemporary Organizations

<abstract xmlns="http://www.w3.org/1999/xhtml">The paper analyses the challenges of modern commercial diplomacy (CD), which became more relevant than it was in the pre crisis period. In this context, the authors analyzed the chronology of implementation of CD in Serbia, scope and efficiency of its activities, and the areas for improvement. Some of their findings, related to the efficiency and challenges in CDs activities, are based on the questionnaire conducted among 25 Serbian CDs. The paper concludes that in order to increase the efficiency of commercial diplomacy, coordination of the activities of the responsible institutions should be improved, to avoid overlapping in their work and to rationalize use of limited resources. However, the authors emphasised that the space for contribution of commercial diplomacy to the increase of export and FDI is insufficient, due to limited export potential and poor investment climate in Serbia. The authors conclude that in order to increase the efficiency of commercial diplomacy in export promotion area, it is important to implement the necessary reforms, which will result in the restructuring of Serbian economy, make it more competitive and export oriented. To increase the inflow of FDI to Serbia, it is necessary to create a business friendly investment climate.</abstract>

Institute of Economic Sciences, Belgrade, Serbia

Faculty of Social Sciences, University of Ljubljana, Slovenia

Commercial Diplomacy In Serbia: Characteristics And Areas For Improvement

<abstract xmlns="http://www.w3.org/1999/xhtml">The negotiation act between Serbia and the European Union began on the basis of Article 49 of the EU Contract. The act and development of negotiations will be led by Serbia’s progress in the accession preparation, especially within the frame of economic and social convergence. The progress will be measured especially in meeting the Copenhagen criteria, as well as the requirements defined by the Stabilization and Association Agreement. Also, the accession implies accepting the institutional framework of the Union, known as acquis. Acquis special importance for Serbia as a candidate country have regarding economic issues and its jurisdiction. In this sense, it is of great importance to have an overview of facts presented in the paper, which relate to certain economic categories, primarily the movement of Gross domestic product and rate of (un)employment, as well as the steps that Serbia took on their way to the Union.</abstract>

Cooperation Between The Republic Of Serbia And European Union In The Period Of Opening Negotiations On Accession

<abstract xmlns="http://www.w3.org/1999/xhtml">The union of the most developed European countries and their heavy industry based economies after the World War II, seemed like the only answer to USA’s and Japan’s powerful economies. At the same time, it was the only chance for Europe to become competitive in the global market. That was achieved through various forms of economic communities, formed in Europe in the second half of XX century. Since the 1992. Maastricht Treaty, they are known as the European Union. European Union industrial policy had the same priorities since the very beginning – to make Europe the leader of global economy, through investments in knowledge and high-tech inovation. However, that still hasn’t happened and considering all the economical and political crisis shaking the Union lately, chances are it can hardly happen at all. Reasons are numerous and different, both inside and outside the Union. The implicit question being posed here is have the most developed world countries and their economies reached their peak and can the EU achieve further growth on the supersaturated global market? This paper investigates the role of industrial policy as one of the key factors for solution to many problems in the past as well as in the future of the EU, which would make this economic and political community of European countries much more competitive on the global market.</abstract>

University of Niš, Faculty of Economics, Serbia

Industrial Policy As The European Union Competitiveness Factor On The Global Market

<abstract xmlns="http://www.w3.org/1999/xhtml">The paper presents analysis of the achieved development level of the housing market in Serbia. Various factors that have shaped demand and supply are systematized and their impact over the last decade was analysed and monitored. As important ones demographic, macroeconomic and financial factors are singled out and a special importance is given to the analysis of specific historical and socio-political circumstances that have influenced the development of the housing market during the period of analysis.</abstract>

The Economics Of Housing Finance In Serbia

<abstract xmlns="http://www.w3.org/1999/xhtml">The main motive of business operations of any bank is to achieve the highest profit possible and utilise it to increase dividends to shareholders, as well as to create conditions to increase their financial and credit potential by reinvesting in shares. The most important quality indicator of a loan portfolio is the share of non-performing loans to total operating assets and liabilities. In the first quarter of 2013, a trend of increasing non-performing loans in the legal entities sector increased by 2.6%, while there was stagnation with the population, i.e. slight decrease. The main objective of this paper is to examine the impact of the global financial crisis on the movement tendency of non-performing loans in the banking market in B&amp;H, and their interdependence with the movement of profitability indicators by a simple regression equation.</abstract>

Analysis Of Non-Performing Loans Movement And Profitability Of The Banking Market In BH

<abstract xmlns="http://www.w3.org/1999/xhtml">Trade, especially retail, plays an important role in linking producers, consumers, as well as employees and the social community at large. In developed market economies, the trade takes the leading position in marketing channels. In that regard, the trade has a good insight into the changes that occur in the production processes, consumer needs, and demands of the society. Given these changes, trade is heading in the direction of creating a competitive advantage in accordance with the principles of sustainable development, which opens up possibilities for application of this concept in trade. The aim of this paper is to explore the possibilities of implementing the concept of sustainable development in trade and trade management. The starting hypothesis of the work is that the trading companies operate in accordance with the principles of sustainable development. The testing of the hypothesis will be carried out from three angles. The research will start with an analysis of the concept of sustainable development. Second, the subject of a separate analysis in this paper will be the content of the concept of sustainable development in trade and retail, as well as the elements affecting the operational viability of trading companies. In that regard, the subject of the analysis will be the top ten trading companies from the list of 250 largest trading companies in the world and their content of the concept of sustainable development. Bearing in mind the results of the research on the concept of sustainable development in these companies, it can be expected that the trade will base its business philosophy on eco-marketing, with parallel acceptance of eco-management. This means that the companies capable of offering products that do not pollute the environment and that are labeled “eco”, “bio”, or “natural” will ensure their survival in the market. Third, the subject of the research will be the instruments that the trading companies use to achieve the objectives of sustainable business. All these aspects of the research are designed in a way to realize the defined goal and test the initial hypothesis in the paper.</abstract>

The Role Of Trade Management In The Process Of Overcoming The Secrets Of Sustainable Development

<abstract xmlns="http://www.w3.org/1999/xhtml">The present paper studies managers’ perception of factors that influence customer satisfaction in the restaurant industry and their attitudes towards conducting a research on customer needs. In particular, we studied the managers’ perception of the importance of restaurant experience elements of customer satisfaction. The research involved 50 restaurant managers in Serbia. Through descriptive and ANOVA analysis, we differentiated two main profiles of restaurant managers in terms of age and professional education. Also, we found through LSD Post hoc test statistically significant difference among managers in regards to customers’ needs data collection. Restaurant managers need to obtain education in the hospitality industry and to pay more attention to customer needs in order to provide quality service.</abstract>

University of Novi Sad, Faculty of Science, Serbia

University of Niš, Faculty of Science, Serbia

Managing Customer Satisfaction In The Restaurant Industry: A Word From Managers

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Economic Themes

 The Faculty of Economics in Niš publishes the journal Economic Themes within the Center for Publishing. According to the categorization of the Ministry of Education and Science of the Republic of Serbia the journal is classified as the leading journal of national importance (M51) and is issued quarterly (in Serbian and English). In the upcoming period we wish to implement two important aims: first, to continually enhance the quality of the journal in compliance with generally accepted standards and second, to improve the ranking of the journal in the following years. All articles sent for publishing are anonymously reviewed.  Rejection Rate   App. 28%  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 