Vaso Arsenović, Formulisanje strategije preduzeća
Review of: Vaso Arsenović, Formulisanje strategije preduzeća, Nezavisni univerzitet Banja Luka, 2017.
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Review of: Vaso Arsenović, Formulisanje strategije preduzeća, Nezavisni univerzitet Banja Luka, 2017.
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Review of: Slobodan Župljanin, Menadžment. Nezavisni univerzitet Banja Luka, 2016.
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In modern business area there are significant arguments for linking the field of strategic management of the functioning and development of the financial markets. The financial market is an important factor for accelerated economic development as well as a vital source of funding. Therefore, the financial market is key for economic development of transitional countries such as Bosna and Herzegovina. In the context of the development of the financial market, particularly important segment represents money market, which is the subject of this paper. The main problem is in the developing of financial market and factors wich decelerate his development. The development of the money market in Bosnia and Herzegovina must be accessed in parallel with the overall restructuring of the economic system and financial markets in general. Proper application of appropriate management tools, methods, concepts and techniques in the development of the money market in Bosnia and Herzegovina, can create important preconditions for intensive development of all segments of the financial markets. Since the work is focused on the development of the money market in BiH, it was necessary point out characteristics of and Accomplished level of of development of the money market in Bosnia and Herzegovina, as well as the opportunities that are available for its developmentKeywords: management tools, develop, market, money.
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Any decision based on relevant management accounting information producing monetary effect in the coming cycle use and provide the financial resources. The task of management is to maintain proper harmony between the inflow and outflow of funds to facilitate changes in business, incurred by the decision of management or external influences. Cash management is request for the continued demand for establishing and maintaining an optimal balance of cash at any time. Surplus cash above necessary requirements impact on reducing profitability, as cash itself brings no return, even though the company provides greater comfort in performing due obligations, which proportionally reduces the risk of insolvency. Cash deficit, in relation to the essential needs, directly threatening the solvency of the company, although occasionally it may lead to increased profitability.
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Requierement planning of human resources is a process that involves the analysis and identification of needs and the availability of existing staff engaged to a company or organization to successfully implement its objectives. These activities are mainly carried out by human resources managers or members of the Directorate for Human Resources, which collected data or information obtained from its associates and managers of organizational units, processed and analyzed in detail, and based on them constitute the plans submitted to the management structures in order to create employment plan in the future . roles. Human resource management in simple terms means taking care of the people within the organization. It could be said that the purpose of the management of human resources is to improve the work of the employees in every possible way.
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From the standpoint of modeling sustainable growth primarily to balance the objectives of sales by setting efficiency and financial resources. The key issue is that the growth rate balanced with the reality of companies and financial markets. Modeling sustainable growth is an important tool of planning, which has found its application in real companies. The rate of sustainable growth is the highest possible percentage increase in sales revenues, which is done on the basis of the target business relations, debt and dividend payments. If the actual growth rate higher than the sustainable growth of something must change in the relationship business. In this paper, we talk about two models: 1.The model of stable growth, 2.The model under different assumptions.
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Change management in the enterprise means managing technological innovation processes through planning, organizing and directing the human and capital resources toward successful creation of new knowledge, ideas aimed at generating new or improved products, processes and services, the development of these ideas and the transmission of ideas into production, distribution, and manual. The process of organizational change is immanent to resist these changes. These resistances are understandable, if one takes into account that organizational change for holders of resistance, and for individuals and workgroups, it can mean the loss of his old positions of power and authority of government, which is rarely anyone at peace. Since the resistance to change solely related to individuals or workgroups, then winning people to change the most important task of a manager in the overall business management of organizational change. The survival of the company depends on the relationship of the organization to change, and employees should be motivated and enjoy the creative ideas and actions.The goal of this paper is to explore the possibilities of managers in developing attitudes of employees who will contribute to creating a positive attitude towards change.
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Corporate governance as a framework, or as the corporation's constitution, is the fundamental instrument in the process of managing corporations, which are its significant element and at the same time the locus of all activities, processes and interests happening within the corporate governance system. Hence, corporate governance is the product of developed market capitalism, whose most exposed representatives are the corporations themselves. In this paper, particular attention will be paid to corporations, and the forms of their integrations as well as acting corporate governance systems analyzing them by comparative method. The main tasks of corporate governance are concerned with acquiring and maintaining the competitive position of the corporation. The aim of this paper is to scientifically explain the possibilities of corporate governance models in acquiring and maintaining the competitive position of the corporation in the turbulent global market in the future.
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The main theme of this paper is business ethics, with a particular focus on the code of ethics. Since ethics is gaining importance in today's business environment, it has become an indispensable part of business practices. The adoption and publication of the code of ethics becomes a prerequisite for the successful business and for the achievement of the objectives of the organization. For this reason, the purpose of this paper is to describe the role and importance of business ethics, as well as to point out the benefits of adoption and publication which the code of ethics has for businesses. Given the importance and the role that large, complex operating systems have for the economy of each country, this paper will exhibit the importance of business ethics for corporations. Data on the percentage share of corporations that do not have a code of business ethics, as well as those that have adopted or published a code of ethics indicate bad situation in relation to business ethics in the Republic of Srpska. Based on the analysis and conducted research, the paper had a number of conclusions on the basis of which has been proven that business ethics is of great importance for businesses. It is also proven that most corporations in the Republic of Srpska do not have a code of business ethics, which indicates the need to devote greater attention to the issue of business ethics.
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In this paper, we show how to reduce costs through efficiency principles of the economy and how they directly affect the profitability of the business. Profitability of the business is manifested as a complex concept, and as a general indicator of the general level of efficiency of the company. The final verification is done all the processes that take place in the company and confirm the efficiency, productivity and liquidity. Business of an enterprise can be perfect and economical viability without profitability, because it is estimated by the program did not adequately accommodate the market, which did not use adequate financial resources, or may not be used with appropriate capital. In ordinary conditions, business may has got all the requirements for high profitability and that incurs a loss just because the company has liquidity problems. Throught the profitability of the business we should see the effects. All these facts are synthetically express balances that are only used as a meritorious instruments for determining the level of profitability.
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Corporate strategy formulation is the core of strategic management and reflects the relationship challenges, mental maps and resources of organization. In the process of strategy formulation is necessary to incorporate all the knowledge of the environment in which the company operates, as well as knowledge of the organization. Access to the formulation of strategy as the analytical process, with all its features, retained its significant influence in these days, primarily due to the existence of a large number of consulting companies that through analysis of data, each in her specific way, came to some models and suggestions of possible strategies for successful business operations, but also through a widely accepted attitudes, concepts and techniques of Porter positioning approach. Positional access of strategy formulation, with the foresight to upgrade the strategist and the learning process, can be the basis for creating a strategy that will provide sustainable competitive advantage and vitality of company.
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Contemporary business environment, as it became a global common working space, has led to creation of joint working teams, in order to spread companies products' assortment and keep its the presence at the market. Constant research and improvement of knowledge and quality level, aiming to increase effectiveness and efficiency of used skills, to develop design of new products, became a commonly used management techniques. In order to achieve all required transformations, which have been already happening for long time, companies have to become an organization which have been learning and adopting a engineering design as a holistic approach (emphasizing importance of entirety and interrelations of its parts) of product development, starting with market research and product definition, up to conceptual design of product, production and final sales. Only this way managed companies have been creating the precondition and ability to follow up the market requirement
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The globalization and the globalization of the changes that are happening in the world and in the region in recent decades, as well as the development of technology, altered the way of work and business, as well as methods and procedures in business communication. The use of modern technologies (satellites, computers, mobile phones, ...), speed, pace and conditions of life and work, require extremely independent and educated people, skilled speakers, managers who aspire to be leaders in the business. Modern managers must be independent in making decisions, creative and innovative in the design and implementation of new programs, daring and unusual ideas and convincing in negotiations and relations with the public. All this implies a permanent education, continuous improvement, learning new skills, and create their own image and style. Inevitably, the question arises: how to keep on top? How to be a leading and first in an environment that is changing so rapidly? In order to maintain and develop individuality, creativity and personality of their own personality? How is a good and positive way to fit in the given environment?
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Innovation and innovative companies that are committed to the achievement of a better market position and therefore higher profits are characteristics of largely successful companies in the turbulent world market. Among other things, innovation in solving problems involves continual improvement of our business through the generations of new ideas and practical ways of doing things in order to solve the problem and gain competitive advantage. Innovative companies are required makers of modern politics because of their undeniable importance in the development and provision of business activities and their impact on improving environmental protection and risk reduction in the distortion of climate change. Innovation does not only represent a new technology or new products, but it also implies new and smarter ways of doing business, new management, new business systems or new services. As a result of the interaction of innovation and globalism, the concept of innovation management and innovation systems developed in response to increasing demands for competitive advantage of innovation processes in a form of growing importance and unquestionable influence of relevant external factors.
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Synchronicity of cash flows, receiving and issuing cash conditions liquidity as the development component of the company. If to receive cashfrom operations is more consistentwith the dynamics ofthe expenditurefor financial obligations, than aproblemfor liquidityis relativelysmall. If theflows ofincome and expenditureoccur in a largertime gap, therisk ofinsolvencyincreasesmore. This riskiseliminatedbytrying tomaintainconstantcash balances, which serve the same purposeas any otherstocks:to absorbthe deficitcaused byunevencashreceiptstothe continuityissueand necessaryfundsto meet liabilitiesandmake them possible. Establishingand keepingthat balanceas well astheseasonal variationof financial flows in the service of developmentis a specificproblemof financial management, given thatitis directlyconflictingprinciplesof liquidity and profitability. Underestimatingthe requiredcash balancesthreatensits continuityor the possibility ofsettlement of liabilities, which isthe essence ofthe principle ofliquidity. The overestimationof thebalancedirectlythreatens the company's development andprofitability, because the cash atbankdoes not provideanyor verylittle income. Missedincomefromalternative usesof unemployed cash is the opportunity costof holding unemployed cash.
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The word ‗rehabilitation‘ is of Latin origin (Sanatio) meaning treatment; nevertheless from the standpoint of company‘s economy rehabilitation is considered to be economic, technical and organizational measures that need to contribute to the recovery of the company, meaning that it once again becomes liquid and profitable. The company is considered sick if it is unable to meet its obligations and operates with a loss for a longer period of time. The causes of the disease can be external and internal. Financial difficulties, which are manifested in the lack of liquidity and unprofitability, cause the need for rehabilitation. Start of rehabilitation suggests the eligibility of rehabilitation, which exists if permanent recovery of the company is possible. Determining eligibility of rehabilitation involves testing and selection of measures whose implementation provides a permanent recovery of the company, in terms of reestablishing of financial balance and returning to the profit zone. If permanent recovery of the company is not possible, bankruptcy happens. There is a difference between rehabilitation in one and rehabilitation in another sense. The first one, economic rehabilitation (rehabilitation in the broad sense) covers all measures that contribute to the detection and elimination of the causes of loss and ensure permanent recovery of the company. The second, financial rehabilitation (rehabilitation in the narrow sense) is directed to write off the loss and the establishment of financial balance.
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Inventory problem is becoming more relevant in the modern economy. The problem arises as a problem of raw material supplies and finished goods inventory problem. Other group of problems is not treated isolate, but also includes broader aspects associated with the business. Due to the nature of the problem one general model which includes all solutions optimize inventory. General formulation solutions can be expressed in terms of determining the volume of stocks at minimal costs. This request seems simple but to set up and resolve the problem can be complex, and depends on a large number of elements. First of all it is necessary to specify the costs but we must take into account the different production organization. This paper discusses with varying prices and with known probability.
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Managing the quality of information in financial reports requires careful planning, the application of appropriate standards and procedures, as well as constant monitoring to ensure their accuracy, relevance and reliability. This is a key element in maintaining the confidence of all interested parties in the information provided by the reporting entity through its financial statements. Financial analysis must be based on true and unambiguous quality financial information in order to justify its mission, which is becoming more and more complex every day.
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Inventory problem is becoming more relevant in the modern economy. The problem arises as a problem of raw material supplies and finished goods inventory problem. Other group of problems is not treated isolate, but also includes broader aspects associated with the business. Due to the nature of the problem one general model which includes all solutions optimize inventory. General formulation solutions can be expressed in terms of determining the volume of stocks at minimal costs. This request seems simple but to set up and resolve the problem can be complex, and depends on a large number of elements. First of all it is necessary to specify the costs but we must take into account the different production organization. This paper discusses with varying prices and with known probability.
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The article considers the need to study the issues of robotic process automation (hereinafter - RPA) and the use of artificial intelligence (hereinafter - AI) in the accounting system for financial (cash) operations. The necessity of using RPA and AI for cash operations through the introduction of robo-cash registers is substantiated. The main tasks and duties that will be performed by the robo-cash register based on RPA and AI, as well as the accountant who will be responsible for this area of accounting, are outlined. Approaches to the technological arrangement of the robo-cash register are disclosed. The prospect of increasing control over financial transactions with the use of AI is revealed due to the possibility of prompt detection of criminal acts and fraudulent schemes, processing of large data sets, the ability of the AI system to update and learn. It is noted that some processes in accounting are quite difficult to automate, because they require a creative approach. The need to make changes to the legal framework in connection with the wide introduction of RPA and AI in the socio-economic development of society, as well as for operations related to cash circulation, is outlined. It is noted that the use of RPA and AI systems is associated with the threat of cyber attacks and requires strengthening of the cyber protection of the entire accounting system of the enterprise, including the financial one. The advantages and disadvantages of using RPA and AI for cash operations are identified. The prospects for the development of the accounting profession and the need for accountants to acquire a new set of skills and competencies to meet today's requirements related to the rapid development of RPA and AI are outlined.
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