Socially responsible business

Praca recenzowana / Peer-reviewed paperThe work is divided into three parts combined by the idea which points to the fact that irrespective of the kind of business activity and at every level of management social issues appear and should not be disregarded. The first part presents the idea, areas and conditions of using the concept of corporate social responsibility. There is a reference to other concepts such as sustainable development and total quality management. In the second part the authors indicate how corporate social responsibility is applied to selected sectors and specific activities undertaken in enterprises. There is a description of the assumptions, methods of action and outcomes concerning the use of CSR in the sphere of waste management and recycling. Another area presented in this section is the aspects related to the provision of a working environment which does not pose a threat to the employees’ occupational health and safety. The text also refers to the issues of trainings and development. The third part refers to the applications of the idea of CSR at the sectorial, national and international levels. It describes social aspects connected with mining, purchasing, transporting and producing energy using resources. International tensions in the political sphere have a serious impact on this market, and dialogue at different levels should be a significant element of CSR. Two other elaborations in this part are devoted to the analysis of working conditions, culture and organisational behaviour in the countries created after the disintegration of Yugoslavia. In the final part there is a discussion about how the Transatlantic Trade and Investment Partnership currently under negotiation between the EU and the USA corresponds with the concept of CSR. The collection of papers is a result of a cooperation between the authors from Andrzej Frycz Modrzewski Krakow University – Poland and researchers from University of Niš – Faculty of Economics (Project No. 179066 – „Improving the competitiveness of the public and private sector by networking competences in the process of European integration of Serbia”, which is funded of Ministry of Education, Science and Technology development of Republic of Serbia)

PREDUZETNIŠTVO I PRIVREDNI RAZVOJ: KOMPARATIVNA ANALIZA RAZVIJENIH I ZEMALJA U RAZVOJU

The stimulation of economic development is one of the key tasks for macroeconomic policy makers. In recent decades, entrepreneurship has become an increasingly important generator of economic development. Previous research shows that entrepreneurship is important for economic development, but contribution of entrepreneurship to economic development is diverse in countries with different degrees of development, due to the differences in characteristics of the macroeconomic environment, presence of different entrepreneurial activity forms and so on. This paper examines the impact of different types of entrepreneurship (OEA, NEA; HEA) on economic growth through the comparative analysis of developed and developing countries. The aim of this study is to investigate the differences in economic effects of entrepreneurship based on opportunity and entrepreneurship based on necessity. Furthermore, the article should propose measures for encouragement of economic development to macroeconomic policy makers. The analysis includes descriptive statistics, correlation and regression methods. The analysis was carried out by using SPSS software on a sample of 22 countries in three years. It has been shown that the contribution of entrepreneurship to economic development is higher in developed countries in comparison to developing countries. The reason for that fact is the domination of HEA and OEA entrepreneurship whose importance for GDP growth is higher in relation to the importance of NEA which is predominant in developing countries.Podsticanje privrednog razvoja predstavlja jedan od ključnih zadataka kreatora makroekonomske politike. Poslednjih decenija sve značajniji pokretač privrednog razvoja postaje preduzetništvo. Prethodna istraživanja pokazuju da je preduzetništvo značajno za privredni razvoj, ali da je doprinos preduzetništva privrednom razvoju drugačiji kod zemalja različitog stepena razvijenosti, usled razlika u karakteristikama makroekonomskog ambijenta, zastupljenosti različitih oblika preduzetničke aktivnosti i sl. U ovom radu je ispitivan uticaj različitih tipova preduzetništva (OEA; NEA; HEA) na privredni rast kroz komparativnu analizu razvijenih i zemalja u razvoju. Cilj rada je bio da se ispita da li postoje razlike u ekonomskim efektima preduzetništva zasnovanog na mogućnostima i preduzetništva zasnovanog na nužnosti i u skladu sa njima kreatorima makroekonomske politike predlože mere čija primena može podstaći privredni razvoj. Za analizu su korišćene metode deskriptivne statistike, korelaciona i regresiona analiza. Analiza je vršena upotrebom SPSS softvera na uzorku od 22 zemlje u trogodišnjem periodu. Dokazano je da je doprinos preduzetništva privrednom razvoju veći u razvijenim zemljama u odnosu na zemlje u razvoju usled dominacije HEA i OEA preduzetništva čiji je značaj za stopu rasta GDP-a veći u odnosu na značaj NEA koje je dominantno u zemljama u razvoju

Impact of the Financial Structure on the Efficiency of Entrepreneurs in Serbia

The development of entrepreneurship has been very important for the economic growth of most countries in the world, in the recent years. However, starting up new business and its development to a successful stable organization is faced with a number of problems and limitations. Financing is a very serious problem for the countries in transitions. Surveys, conducted in Serbia by the National Agency for Regional Development, have shown that Serbian entrepreneurs have been faced with a number of financial problems which have directly affected their efficiency. This paper investigated whether the problems in financial management (especially problems that depend on the changes to financial structure) had a major impact on the efficiency of entrepreneurs in Serbia. The aim of this paper was to identify the key financial problems that entrepreneurs in Serbia were facing with in the previous period and propose actions whose implementation may lead to their reduction or elimination in the future. Using a sample of more than 13000 entrepreneurs in Serbia (based on the data from the Serbian Business Registers Agency) in the period from 2004 to 2014, we found that extremely large impact on the efficiency of entrepreneurs in Serbia had big financial expenses and a high level of financial risk. Applying the correlation analysis we showed that the growth of long-term debt and related financial expenses caused the reduction of efficiency of entrepreneurs in Serbia. Regression analysis showed that the increase in indebtedness significantly contributed to the increase in inefficiency and bankruptcy of large number of entrepreneurs in Serbia