The paper analyses one of the most important economic issues relevant to most countries. The issue involves how to as painless as possible overcome the problems of high budget deficits and excessive accumulated public debt. Argentina and Serbia are used as an example. Argentina implemented rigorous saving measures in 2002 and Serbia began to implement restrictive budgetary measures in 2014. The effects of such a policy can be designed for the future. Results indicate that the key to Argentina’s success lies in the transition to a floating exchange rate and the high level of correlation between the growth of the foreign exchange rate and growth in exports. When comparing strict fiscal policy in Argentina and Serbia, it should be emphasised that the measures in Serbia are far less stringent than those that were established in Argentina. But it also means that the effect of reducing budget expenditures should have less of an impact on GDP reduction than in the case of Argentina.
Background: Transitions in the modern business environment cause significant organizational changes not only in private companies, but also in the public sector. Introduction of an adequate organizational model for the public sector could improve the quality level of public services. Objectives: This article aims to present general benefits of the application of the holding organizational paradigm in the public sector through a parallel analysis of several cases that were observed individually in our previous research. The goal is to suggest possible restructuring directions to policy makers in cities where the public sector has not been adjusted to the changes in the modern business environment. Methods: The case study research based on the documentation analysis, interviews and direct observation using the standard management consulting practice provided an additional and deeper insight into the functioning of public enterprises in one European capital and one small municipality. Results: The examples presented in this paper showed that the application of the holding institutional solution in the public sector leads to an improved command, an increased level of control, reduced management costs, better allocation of city resources and decreased overheads in the public sector. Conclusions: Switching from a functional towards a network model of the organizational structure improved the performance of public enterprises and increased the quality of public services
The fact that an enormous portion of the public revenue is lost through tax evasion indicates the inevitability of taking various measures to suppress it. According to the latest statistics, the outflow from the gross domestic product through tax evasion is 30%. The aim of this paper is to point to the systematisation of the matter relating to an assessment of the efficiency of tax audit as a pillar of the reduction of tax evasion and informal economy in our country. Methodology implies a descriptive research. Collected data were meticulously analysed by means of basic arithmetic operations. Due to serious consequences of tax evasion, it is necessary to upgrade the tax system modelled on developed market economies. It is necessary to modernise a Tax Administration, as well as to improve the co-operation between its segments. A synthetic income tax should be introduced. It would encompass all revenues that a taxpayer generates per year. If all taxpayers settled their tax liabilities, it would create space for tax burden reduction. In legal states only “the bravest” resort to tax evasion. Most countries have undertaken a series of measures in order to suppress tax evasion and informal economy. However, the effectiveness of the struggle varies.
Background and Purpose: Volume and sophistication of scientific research related to different aspects of entrepreneurship have significantly increased in recent years. Many authors point out the positive influence that development of micro, small and medium enterprises and entrepreneurship has on economic growth and job creation. According to various researchers, youth entrepreneurship and women entrepreneurship are two very important elements of this global phenomenon. The purpose of this paper is to provide the analysis of strategic framework for the support to the development of youth and women entrepreneurship in Serbia.
Design/Methodology/Approach: Situational analysis of youth and women employment and examination of official Government strategic documents related to strategic framework for the support to the development of youth and women entrepreneurship in Serbia will be conducted.
Results: Concrete activities have to be performed by different stakeholders, mostly non-government organizations. The activity stakeholders are on the bottom of the institutional framework, which provides the support to MSME (Micro, Small and Medium Enterprises) sector that will execute the operations in accordance with the defined strategic framework.
Conclusion: Youth-run enterprises provide numerous benefits for society; they reduce youth unemployment and help young people prepare for their future. Female entrepreneurs also have strong economic and social impact.
Background and Purpose: Organizations should implement new findings from the field of human resource management. If an organization wants to have successful and effective employees, they should be satisfied with all aspects of work and at the same time they should be feel commitment towards an organization. To have a full insight in employees, organizations have to take care of psychological side of employees, which manifests in psychological empowerment.
Design/Methodology/Approach: The survey was conducted among 409 university lecturers in Austria, Croatia, Czech Republic, Germany, Serbia, and Slovenia. The investigated constructs of psychological empowerment, job satisfaction and organisational commitment were compared. Spreitzer’s PEQ was used for the assessment of the psychological empowerment, Spector’s JSS for job satisfaction, and Allen’s and Meyer’s OCQ for the assessment of organisational commitment.
Results: The research showed that the highest level of psychological empowerment can be found among university lecturers from Serbia and the lowest from Germany. Job satisfaction level is the highest in Austria and the lowest in Slovenia. Affective organisational commitment is the highest in Slovenia and the lowest in Germany. Continuance organisational commitment scored the highest in Croatia and the lowest in Czech Republic. Additionally, the outcomes show the highest level of normative organisational commitment in Czech Republic and the lowest in Austria. Only affective organisational commitment was not found as statistically significant.
Conclusion: Knowledge of psychological empowerment, job satisfaction and organizational commitment can be helpful for leaders, because with this knowledge they can manage, develop and motivate employees properly.
Different authors agree that designing the organizational structure in accordance with the business processes can bring numerous advantages, which improve business performance of the organizational system. This article aims to show how cost-effective restructuring, through modification of organizational structure according to business processes that exist in the organization, can bring numerous benefits. Successful implementation of process organizational model does not necessarily demand large investments, but only adequate structural changes and internal reorganization. The data used in this paper were gathered during the project of restructuring one transportation company from Belgrade, which consulting team from Faculty of Organizational Sciences, University of Belgrade, performed in year 2012.
This study examined the effects of chronic restraint stress (CRS: 2 hours × 14 days) on gene expression of three antioxidant enzymes, copper, zinc superoxide dismutase (SOD 1), manganese superoxide dismutase (SOD 2) and catalase (CAT) in the rat hippocampus. Also, we examined changes in the activities of SOD 1, SOD 2 and CAT in the hippocampus of chronically stressed rats. Investigated parameters were quantifi ed by using real-time RT-PCR, Western blot analysis and assay of enzymatic activity. We found that CRS did not change mRNA and protein levels of SOD 1 and CAT, but increased mRNA and protein levels of SOD 2. However, CRS treatment increased the enzyme activities of SOD 1, SOD 2 and CAT. Our fi ndings indicate that the increased activity of antioxidant enzymes (SOD 1, SOD 2 and CAT) in the hippocampus may be an important adaptive phenomenon of the antioxidant defense system in chronically stressed rats.
The aim of the paper is to identify a potential linear correlation between direct taxes and economic growth. The subject of the paper includes estimating the level and intensity of correlation between direct taxes and economic growth in OECD countries for the period 1996-2016. The study analyses tax forms such as personal income tax, corporate income tax and tax on property, and their potential relationship with economic growth, measured by GDP growth rate. Also, tax revenues growth has been included to determine whether it directly affects the economic growth in observed countries. The results of the group correlation matrix have shown that there is a statistically significant relationship between tax revenues growth, personal income tax, corporate income tax and gross domestic product in OECD countries. However, it is important to note that tax on property and gross domestic product are not significantly correlated at the OECD level, which is logical given the low share of this tax in those countries.