RFOS - Repository of Faculty of Organizational Sciences Univ. of Belgrade
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Segmenting centennials based on their consumer behaviour during COVID-19 pandemics: the case of confectionery industry
No full textThe COVID-19 pandemics brought significant changes to everyday lives and disrupted the former life-style. One of the habits that was mostly affected by the lockdown and mandatory social distance was shopping. Consumers had to improvise and change not only their shopping habits, but their consumption habits, attitude towards shopping, and even opinion towards the company in question based on its activities in battling the global pandemics. This study aims to segment young consumers, the Centennials, based on their attitudes towards the corporate social responsibility (CSR) of the company and their consumer behaviour during COVID-19. Afterwards the differences in options of the retained segments are explored. As the study was done on an example of a confectionery company, we hope that the results could provide valuable insight on consumer behaviour change in a specific industry
Behavioral influences on strategic interactions outcomes in game theory models
No full textTraditional decision-making models assume full rationality of all actors. Nevertheless, the practice has shown that the behavior and choices of actors are inu- enced by many factors such as motives, beliefs, opinions, personal and social preferences, as well as cognitive biases. Moreover, it has already been proven that people have lim- itations in their ability to collect relevant information and respond to them, i.e., they are bounded rational. All this has contributed to the development of behavioral models in many disciplines including game theory. This paper provides a detailed review of the literature regarding behavioral models of strategic decision making. Bounded rationality and other cognitive biases in the strategic interactions are illustrated through the findings of numerous experimental studies
IoT OTH Maritime Surveillance Service over Satellite Network in Equatorial Environment: Analysis, Design and Deployment
No full textThis paper explores the challenges and constraints when over the horizon (OTH) maritime surveillance service utilizes an Internet of Things (IoT) as its backbone. The service is based on High Frequency Surface Wave Radars (HFSWRs) and relies on a satellite communication network as its communication infrastructure in harsh environments. The complete IoT OTH maritime surveillance network is currently deployed in the Gulf of Guinea, which due to its tropical climate represents an unfavorable environment for sensors and communications. In this paper, we have examined the service performance under various meteorological conditions specific to the Gulf of Guinea. To the best of our knowledge, this is the first analysis of IoT OTH maritime surveillance service in equatorial environment. Our analysis aims to mathematically describe the impact of harsh weather conditions on the performance of the service in order to mitigate it with careful overall system design and provide constant quality of the service. Analyses presented in the paper show that average service latency is about 90 s, but it can rise to about 120 s, which is used as a key information during the sensor data fusion algorithm design. Validity of the analyses is demonstrated through high quality of service with an outage probability of just 0.1% in the driest months up to the 0.7% in the rainiest months. The work presented here can be used as a guideline for deployment of maritime surveillance service solutions in other equatorial regions. Moreover, the gained experience presented in this paper will significantly facilitate future expansions of the existing maritime surveillance network with more HFSWRs. This will be done in such a way that it will not affect the quality of service of the entire system on a large scale
The Role of Foreign Direct Investment, Energy and Pollution in Obtaining Sustainable Economic Development
No full textDeveloping countries have encountered the issues of economic development and reducing pollution that need to be resolved to achieve sustainable development. However, this topic has not been widely explored. Since obtaining sustainable economic development is a priority, the nexus between foreign direct investment (FDI), trade openness (TO), final energy consumption (FEC), capital (K), income, and pollution (carbon emission) has been investigated in this paper. The research questions deal with the existence of the long-run, short-run and causality relationship between the selected variables. The paper aims to investigate these relations in Serbia during 1995-2018 by applying the autoregressive distributed lag model as the most commonly used and suitable co-integration model. The results present that FDI and TO will increase gross domestic product (GDP), while pollution will decrease it in the long-run. The existence of a short-run causality from FDI and TO to GDP is confirmed. The Granger causality test reveals that FDI has a unidirectional relationship to GDP, carbon emission, TO, and FEC. Furthermore, GDP, carbon emission and FEC have a unidirectional relation to TO. These results indicate that policies should combine FDI promotion and TO, with supervision of FDI effects on carbon emission to obtain sustainable economic development
An Approach to Validation of Business-Oriented Smart Contracts Based on Process Mining
No full textEnterprises are confronted with a highly competitive and fast-changing business environment resulting in an increasing level of cooperation between organizations. Cross-organizational processes (CBPs) aim to achieve an agreement between organizations at the process level in such an environment. An application of smart contracts and blockchain brings the unprecedented capability to execute CBPs in decentralized multi-peer environments and without central authorities to govern the workflow. However, the application of blockchain introduces various challenges due to the immutable nature of blockchain's transaction data and the specific development and deployment life-cycle of smart contracts. In this position paper, we propose a high-level platform-independent framework for monitoring and validation of smart contracts utilizing process mining techniques. The main purpose of such a framework will be to support process engineers in the detection of nonconforming behavior, resolving detected discrepancies, and improving smart contracts
ISO 14000 Standards Series
No full textIn: Idowu S., Schmidpeter R., Capaldi N., Zu L., Del Baldo M., Abreu R. (eds) Encyclopedia of Sustainable Management. Springer, Cham
Integration of solar energy by nature-inspired optimization in the context of circular economy
No full textThe purpose of this paper is to make a research on solar power plants integration in an electric power system, taking into account all costs arising from circular economy criteria. Four scenarios of solar power plant installation are analyzed. The methodology relies on nature-inspired optimization. The evolutionary multiobjective genetic algorithm is applied. The optimization is based on the costs of electricity production, encompassing not only the costs of technology, but also the costs of environmental protection and sustainable development. These costs are included in the model and the objectives are formulated accordingly. The objectives are based on maximization of electricity production up to the level of demand, minimization of total electricity costs and minimization of greenhouse gas emissions. In addition, grid losses as well as other limitations and constraints of the electric power system are included into the model. The loss distribution is calculated in proportion to the distance between the supplier and the end user. The solar power plant losses equal zero, because it is assumed that the plant is located in a local community, close to consumers. The results show that the emissions and costs are higher without an introduced solar power plant. Introduction of solar capacities reduces the costs and emissions to a certain level. The developed model may be useful as a decision-support system generator
Impact of Construction Project Managers' Emotional Intelligence on Project Success
No full textNumerous authors are persistent in investigating the competency profile of the ideal construction project manager in order to decrease the failure rate of construction projects. There is evidence for the change in construction project management, from traditional practices to practices more focused on people and working relationships. The literature demonstrates a positive correlation between project manager's Emotional intelligence and project success but less is written about the mechanisms that interfere with that relationship. Furthermore, project manager's relationships with stakeholders are recognized as an important determinant of project success in the construction industry. Considering the above facts, this study was motivated to examine how the construction project manager's emotional intelligence influences project success, and whether the relations with internal and external stakeholders interfere as mediators in that relationship. In the conducted research, 110 project managers participated. The results demonstrate that the emotional intelligence of construction project managers significantly influences the project success and that internal and external stakeholder relationships play an important role as mediators among them. Moreover, it is found that some components of EI have more significant influence on stakeholder relationships and project success and that internal and external relationships in different amounts affect components of project success
Using Beneish M-Score and Altman Z-Score models to detect financial fraud and company failure
No full textBankrot je rizik sa kojim može da se suoči svaka kompanija, nezavisno od njene veličine. Važnost predviđanja bankrota kompanije godinama pre njegovog razvoja je velika, a bitna je za finansijsku održivost. Finansijska nevolja važan je kriterijum za praćenje prilikom procene verovatnoće prevara kod izveštavanja. Kada kompanija posluje loše, postoji već a motivacija za uključivanje u prevarno finansijsko izveštavanje. Sve više se usvajaju raznovrsne tehnike upravljanja rizikom za otkrivanje prevarnog finansijskog izveštavanja. U radu je primenjena studija slučaja. Na osnovu javnodostupnih finansijskih podataka (obelodanjenih finansijskih izveštaja) domaćeg tekstilnog preduzeća za period 2017-2020, čije su akcije kotirane na berzi, sprovedeno je istraživanje bazirano na primeni Altmanovog Z-Score modela i Beneish M-Score modela. Nalazi u radu su pokazali da se rezultati razlikuju prema primenjenoj metodi po pitanju identifikovanja mogućnosti bankrotstva i mogućnosti nastanka prevarnih radnji u finansijskim izveštajima posmatrane kompanije. Rezultati istraživanja mogu da budu važni investitorima, revizorima, regulatorima, bankarima, poreskim i drugim državnim organima.Bankruptcy is a risk that any company can face, regardless of its size. The importance of predicting a company's bankruptcy for years before its development is enormous, and it is important for financial sustainability. Financial reporting is an important platform for making financial decisions of investors and creditors. In recent years, the frequency of false financial reporting by firms has increased and there are concerns about investors' confidence in capital market. Academics and industry experts adopt a variety of risk management techniques to detect fraudulent financial reporting. A case study was applied in this paper. Based on publicly available financial data (disclosed financial statements) of a domestic textile company for the period 2017-2020, whose shares are listed on the stock exchange, a survey was conducted based on the application of Altman's Z-Score model and Beneish M-Score model. Financial distress is an important criterion to monitor when assessing the likelihood of fraud reporting. When a company is operating poorly, there is a greater motivation to engage in fraudulent financial reporting. The findings show that the results differ according to the applied method in terms of identifying the possibility of bankruptcy and the possibility of fraud in the financial statements of the observed company. The results of the study can be important to investors, auditors, regulators, bankers, tax and other government bodies
