Dušica Stevčevska-Srbinoska, Jadranka Mrsik, Egor Sekuloski, Tome Nenovski
The aim of the paper is to examine the level of interdependence between developing and developed stock markets. The correlation of the Macedonian (MBI10) stock exchange index with the Belgrade (BELEX15), the Six Swiss (SLI) and the Euronext Paris (CAC40) stock exchanges from November 2005 to October 2018 was studied. In order to assess the impact of the crisis on the interrelations between these equity markets, the analyzed period was we subdivided into three segments (pre-crisis, during crisis and post-crisis) and the data sets were subjected to linear regression analysis. The research results indicate an increased correlation of the Macedonian with Belgrade and Euronext Paris Stock Exchanges and decreased correlation with Six Swiss during the time of financial distress comparing to pre and post crisis periods. The findings of this study contribute to the overall picture of the relationship between stock markets in the time of Financial Crisis. Moreover, by investigating the interrelationship between developing and developed European stock markets, the results suggest that financial market integration is time-varying.
{"title":"The interdependence between developing and developed stock markets: The case of the Macedonian, Belgrade, six Swiss and Euronext Paris stock exchange","authors":"Dušica Stevčevska-Srbinoska, Jadranka Mrsik, Egor Sekuloski, Tome Nenovski","doi":"10.5937/sjm16-26552","DOIUrl":"https://doi.org/10.5937/sjm16-26552","url":null,"abstract":"The aim of the paper is to examine the level of interdependence between developing and developed stock markets. The correlation of the Macedonian (MBI10) stock exchange index with the Belgrade (BELEX15), the Six Swiss (SLI) and the Euronext Paris (CAC40) stock exchanges from November 2005 to October 2018 was studied. In order to assess the impact of the crisis on the interrelations between these equity markets, the analyzed period was we subdivided into three segments (pre-crisis, during crisis and post-crisis) and the data sets were subjected to linear regression analysis. The research results indicate an increased correlation of the Macedonian with Belgrade and Euronext Paris Stock Exchanges and decreased correlation with Six Swiss during the time of financial distress comparing to pre and post crisis periods. The findings of this study contribute to the overall picture of the relationship between stock markets in the time of Financial Crisis. Moreover, by investigating the interrelationship between developing and developed European stock markets, the results suggest that financial market integration is time-varying.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gelmar García-Vidal, Alexander Sánchez-Rodríguez, Reyner Pérez-Campdesuñer, Rodobaldo Martínez-Vivar
The objective of this article is to examine the relationships between organizational values and the performance indicators of an organization. Two work teams were analyzed in a restaurant. To achieve the objective, a Delphi method was developed that allowed knowing the level of consensus of the members of the teams studied among a group of previously identified values, allowing to identify those values that had greater importance and regulation for each team. Through the Mann-Whitney statistical test, the relationship between values and customer satisfaction and productivity were examined, aspects that were measured in the organization studied for each work shift, where the teams analyzed worked. The research made it possible to prove the relationship between values and customer satisfaction directly and productivity indirectly, demonstrating that the work team showed greater consensus on its values in terms of importance and level of regulation showed better results in the dependent variables analyzed. The research carried out allowed the quantitative validation of the hypothesis that the shared values that regulate the behavior of the employees studied are closely related to the performance indicators.
{"title":"Exploring the relationship between organizational values and small team performance: A Delphi method application","authors":"Gelmar García-Vidal, Alexander Sánchez-Rodríguez, Reyner Pérez-Campdesuñer, Rodobaldo Martínez-Vivar","doi":"10.5937/sjm16-22675","DOIUrl":"https://doi.org/10.5937/sjm16-22675","url":null,"abstract":"The objective of this article is to examine the relationships between organizational values and the performance indicators of an organization. Two work teams were analyzed in a restaurant. To achieve the objective, a Delphi method was developed that allowed knowing the level of consensus of the members of the teams studied among a group of previously identified values, allowing to identify those values that had greater importance and regulation for each team. Through the Mann-Whitney statistical test, the relationship between values and customer satisfaction and productivity were examined, aspects that were measured in the organization studied for each work shift, where the teams analyzed worked. The research made it possible to prove the relationship between values and customer satisfaction directly and productivity indirectly, demonstrating that the work team showed greater consensus on its values in terms of importance and level of regulation showed better results in the dependent variables analyzed. The research carried out allowed the quantitative validation of the hypothesis that the shared values that regulate the behavior of the employees studied are closely related to the performance indicators.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study investigates whether establishing of the shopfloor management in the company is beneficial for the company or not even in difficult conditions (food production with BRC standards of production, presence of foreigners, agency employees). A qualitative research based on detailed long-term observation the real process of planning and establishing the shopfloor management in the company was used, as well as interviews with industrial engineers, first line managers, blue-collar workers, and shopfloor management practitioners. The company was chosen for this case study on purpose. The findings say it was good to establish SFM in the company. In spite of obstacles, the utilization of machines increased by 20% and one machine (out of 12) could be sold due to redundancy. The need for human capital decreased, the number of scraps decreased, and the cooperation improved.
{"title":"Utilization of shop floor management as a tool for communication and knowledge sharing in the framework of lean logistics: A case study","authors":"Petra Benyahya, L. Macurova","doi":"10.5937/SJM16-25783","DOIUrl":"https://doi.org/10.5937/SJM16-25783","url":null,"abstract":"The study investigates whether establishing of the shopfloor management in the company is beneficial for the company or not even in difficult conditions (food production with BRC standards of production, presence of foreigners, agency employees). A qualitative research based on detailed long-term observation the real process of planning and establishing the shopfloor management in the company was used, as well as interviews with industrial engineers, first line managers, blue-collar workers, and shopfloor management practitioners. The company was chosen for this case study on purpose. The findings say it was good to establish SFM in the company. In spite of obstacles, the utilization of machines increased by 20% and one machine (out of 12) could be sold due to redundancy. The need for human capital decreased, the number of scraps decreased, and the cooperation improved.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"16 1","pages":"267-276"},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Designing modern waste recycling systems is an urgent problem. The experience of attracting masters from two leading Russian universities in organizing interaction and cooperation in the development and implementation of waste sorting complexes is considered. Faculties of Russian Academy of National Economy and Public Administration and Moscow Institute of Physics and Technology held a project session for developing and launching innovative technological projects on the market called "Techno marketing". The developed methodological base made it possible to combine educational and entrepreneurial tasks and ensure the promotion of student technological projects. As a result of the conducted project session, a project on the use of computer vision systems for sorting waste was developed, the competitive differences of the project and its technical and economic indicators were presented. The mechanisms for the implementation of an innovative waste sorting project have been determined. Despite being twice as expensive, the waste sorting machine is able to fully pay off 3 times faster than manual sorting, justifying further investment in the project.
{"title":"Innovative design of waste processing technologies","authors":"N. Safronova, Gulnaz Khaibrakhmanova","doi":"10.5937/sjm16-28893","DOIUrl":"https://doi.org/10.5937/sjm16-28893","url":null,"abstract":"Designing modern waste recycling systems is an urgent problem. The experience of attracting masters from two leading Russian universities in organizing interaction and cooperation in the development and implementation of waste sorting complexes is considered. Faculties of Russian Academy of National Economy and Public Administration and Moscow Institute of Physics and Technology held a project session for developing and launching innovative technological projects on the market called \"Techno marketing\". The developed methodological base made it possible to combine educational and entrepreneurial tasks and ensure the promotion of student technological projects. As a result of the conducted project session, a project on the use of computer vision systems for sorting waste was developed, the competitive differences of the project and its technical and economic indicators were presented. The mechanisms for the implementation of an innovative waste sorting project have been determined. Despite being twice as expensive, the waste sorting machine is able to fully pay off 3 times faster than manual sorting, justifying further investment in the project.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065983","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Most of the IT organizations are facing various challenges such as technological advancement, new customer requirements, merger & acquisition, and changing market demands, which should be addressed to survive in the industry. For enhancing more value to the customer in the project, the best option is to choose Agile Methodology for managing the project, which helps to accommodate the ad-hoc business requirement than pre-planned. Though, most of the organization, especially in the IT industry is shifting to Agile methodology practice, which helps to enjoy the benefit of better collaboration and customer experience. The study was conducted among 404 IT professionals from the IT corridors of India to understand the influence of Agile methodology on IT project performance. Most responses received from people who have sound experience in IT project management which assures the quality of results obtained. From study, it has been found that Agile methodology (b= 0.630, p<0.00) has a significant and positive impact on the project performance. Also, the study proves that people who are working in Scrum framework (Agile methodology) improves the project quality as well as business value. Based on Stepwise regression results, Product ownership has higher degree of importance than other independent variable for the individual work performance which solidifies the requirement for software development. Multicollinearity Assessment shows Product Ownership and Development Practice have more impact on project performance than Team considered for the study. Previous studies didn't cover the aspect as well as areas proposed in this study to arrive the conclusion of Scrum framework for project performance, and it opens the pathway for future research work.
{"title":"Adoption of agile methodology for improving IT project performance","authors":"Rajan Roshan, Ambujakumari Santhosh","doi":"10.5937/sjm16-26854","DOIUrl":"https://doi.org/10.5937/sjm16-26854","url":null,"abstract":"Most of the IT organizations are facing various challenges such as technological advancement, new customer requirements, merger & acquisition, and changing market demands, which should be addressed to survive in the industry. For enhancing more value to the customer in the project, the best option is to choose Agile Methodology for managing the project, which helps to accommodate the ad-hoc business requirement than pre-planned. Though, most of the organization, especially in the IT industry is shifting to Agile methodology practice, which helps to enjoy the benefit of better collaboration and customer experience. The study was conducted among 404 IT professionals from the IT corridors of India to understand the influence of Agile methodology on IT project performance. Most responses received from people who have sound experience in IT project management which assures the quality of results obtained. From study, it has been found that Agile methodology (b= 0.630, p<0.00) has a significant and positive impact on the project performance. Also, the study proves that people who are working in Scrum framework (Agile methodology) improves the project quality as well as business value. Based on Stepwise regression results, Product ownership has higher degree of importance than other independent variable for the individual work performance which solidifies the requirement for software development. Multicollinearity Assessment shows Product Ownership and Development Practice have more impact on project performance than Team considered for the study. Previous studies didn't cover the aspect as well as areas proposed in this study to arrive the conclusion of Scrum framework for project performance, and it opens the pathway for future research work.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"240 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to examine the effect of collaborative networks on business performance. This study tries to find a collaborative network format that can improve business performance. The respondents in this study were 295 owners of the fashion sector SMEs in Central Java, Indonesia. Data analysis used the Structural Equation Modeling (SEM) approach. The results showed that collaborative networks (CN) significantly influence innovation capability (IC), competitive advantage (CA), and business performance (BP). Furthermore, the capability of innovation and competitive advantage also significantly influence business performance. Innovation capabilities and competitive advantages can mediate the relationship between collaborative networks and business performance.
{"title":"The improvement of collaborative networks to increase small and medium enterprises (SMEs) performance","authors":"M. Mulyana, Wasitowati Wasitowati","doi":"10.5937/sjm16-24369","DOIUrl":"https://doi.org/10.5937/sjm16-24369","url":null,"abstract":"This study aims to examine the effect of collaborative networks on business performance. This study tries to find a collaborative network format that can improve business performance. The respondents in this study were 295 owners of the fashion sector SMEs in Central Java, Indonesia. Data analysis used the Structural Equation Modeling (SEM) approach. The results showed that collaborative networks (CN) significantly influence innovation capability (IC), competitive advantage (CA), and business performance (BP). Furthermore, the capability of innovation and competitive advantage also significantly influence business performance. Innovation capabilities and competitive advantages can mediate the relationship between collaborative networks and business performance.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71066046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Inna Mitrofanovaa, Olga Chernovac, V. Batmanova, Oksana Trilitskaya
Events caused by complex crisis which became evident in regional economies as a result of the spread of COVID-19 have affected the manufacturing industry of the South of Russia. The purpose of this article is to identify and analyse the prospects for the sustainable development of industry in the South of Russia in the context of new economic trends. The methodological basis of the study is founded on the theory of shocks, which made it possible to place at the center of the system of cause-and-effect relationships a set of factors in business activity decrease, which are considered as shocks that form new development trends. The analysis revealed the presence of problems of production interruptions and break of supply chains, reduction in resource flows, as well as a decrease in effective demand for industrial products. According to the opinion of the authors, the prospects for the development of the industrial complex of the region are associated with the balance of market self-regulation and government regulation, and are also determined by the accumulated potential of the regional industry and available adaptive capabilities.
{"title":"Trends, risks and prospects for industrial complex development of South of Russia in new economic realities","authors":"Inna Mitrofanovaa, Olga Chernovac, V. Batmanova, Oksana Trilitskaya","doi":"10.5937/sjm16-28723","DOIUrl":"https://doi.org/10.5937/sjm16-28723","url":null,"abstract":"Events caused by complex crisis which became evident in regional economies as a result of the spread of COVID-19 have affected the manufacturing industry of the South of Russia. The purpose of this article is to identify and analyse the prospects for the sustainable development of industry in the South of Russia in the context of new economic trends. The methodological basis of the study is founded on the theory of shocks, which made it possible to place at the center of the system of cause-and-effect relationships a set of factors in business activity decrease, which are considered as shocks that form new development trends. The analysis revealed the presence of problems of production interruptions and break of supply chains, reduction in resource flows, as well as a decrease in effective demand for industrial products. According to the opinion of the authors, the prospects for the development of the industrial complex of the region are associated with the balance of market self-regulation and government regulation, and are also determined by the accumulated potential of the regional industry and available adaptive capabilities.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71066110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
R. Zulfikar, R. Widyanti, B. Basuki, M. Ade, Purboyo Purboyo
Several previous research had conducted to identify factors that have a significant impact on SMEs' sustainable behavior. But unfortunately, there has not been a single study that explores the influence of these factors in an ongoing pandemic condition. Our study tried to describe the level of effectiveness of the contribution and ability of competitive advantage factors and corporate culture in improving the SMEs sustainable behavior. The results of this study can be used for better SME development strategies, especially in conditions where pandemics such as COVID-19 are still ongoing. This research was conducted using a sample of 194 SMEs in the province of South Kalimantan-Indonesia. Sampling took by a purposive sampling technique and an online questionnaire as a research instrument. Data analysis techniques are using SEM by testing the construct validity and reliability, influence testing, path analysis, and contribution effectiveness analysis. This study found that competitive advantage had no significant effect on sustainable behavior, while corporate culture has a substantial impact on SMEs' sustainable behavior. The total direct impact and effectiveness of the contribution given by the corporate culture factor are more significant (79%) compared to the competitive advantage factor (21%).
{"title":"Encourage SMEs sustainable behavior during covid-19 pandemic through competitive advantages and corporate culture","authors":"R. Zulfikar, R. Widyanti, B. Basuki, M. Ade, Purboyo Purboyo","doi":"10.5937/sjm16-25966","DOIUrl":"https://doi.org/10.5937/sjm16-25966","url":null,"abstract":"Several previous research had conducted to identify factors that have a significant impact on SMEs' sustainable behavior. But unfortunately, there has not been a single study that explores the influence of these factors in an ongoing pandemic condition. Our study tried to describe the level of effectiveness of the contribution and ability of competitive advantage factors and corporate culture in improving the SMEs sustainable behavior. The results of this study can be used for better SME development strategies, especially in conditions where pandemics such as COVID-19 are still ongoing. This research was conducted using a sample of 194 SMEs in the province of South Kalimantan-Indonesia. Sampling took by a purposive sampling technique and an online questionnaire as a research instrument. Data analysis techniques are using SEM by testing the construct validity and reliability, influence testing, path analysis, and contribution effectiveness analysis. This study found that competitive advantage had no significant effect on sustainable behavior, while corporate culture has a substantial impact on SMEs' sustainable behavior. The total direct impact and effectiveness of the contribution given by the corporate culture factor are more significant (79%) compared to the competitive advantage factor (21%).","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71065671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
José Arias-Pérez, Esteban López-Zapata, Andrea Echeverri-Bedoya
The aim of this paper is to analyze the mediating effect of the knowledge management strategies on the relationship between e-business capabilities and innovation performance. The research model was tested with a sample of 102 firms belonging to IT intensive sectors, located in an emerging country that is a regional leader in terms of e-business adoption. Structural equations by the consistent partial least squares method were used. The main result indicates that only the personalization strategy has a partial mediating effect. In conclusion, e-business capability alone is insufficient for achieving a superior innovation performance. This finding also helps consolidate the incipient study perspective that understands knowledge management not as an antecedent variable which becomes indispensable for e-business adoption, but as an organizational factor that intervenes a posteriori and which is focused on achieving an effective use of all the knowledge resulting from the digital operation of the business.
{"title":"E-business capabilities and innovation performance: The mediating effect of knowledge management strategies","authors":"José Arias-Pérez, Esteban López-Zapata, Andrea Echeverri-Bedoya","doi":"10.5937/sjm15-20446","DOIUrl":"https://doi.org/10.5937/sjm15-20446","url":null,"abstract":"The aim of this paper is to analyze the mediating effect of the knowledge management strategies on the relationship between e-business capabilities and innovation performance. The research model was tested with a sample of 102 firms belonging to IT intensive sectors, located in an emerging country that is a regional leader in terms of e-business adoption. Structural equations by the consistent partial least squares method were used. The main result indicates that only the personalization strategy has a partial mediating effect. In conclusion, e-business capability alone is insufficient for achieving a superior innovation performance. This finding also helps consolidate the incipient study perspective that understands knowledge management not as an antecedent variable which becomes indispensable for e-business adoption, but as an organizational factor that intervenes a posteriori and which is focused on achieving an effective use of all the knowledge resulting from the digital operation of the business.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"15 1","pages":"221-239"},"PeriodicalIF":0.7,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44709898","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Energy is fundamental in supporting people's daily subsists and the continual mission for human life improvement. The computer-aided instruments system used by electric utility grids or microgrids operators to control, monitor, and optimize the power system operation is generally named Energy Management System (EMS). The topic of optimization methods applied to decision making problems in such system is a difficult and complex combination of mathematical formulation, modeling and algorithmic solution. The best result in such process is applied to the problem to be optimized, which must be studied in great depth. Furthermore, difficult mathematical calculations and procedures can be elaborated; also, computer knowledge and software engineering competences must be provided. The subject of this paper is an overview of the existing important optimization methods used in electric power management system such as unit commitment, optimal power flow and economic dispatch.
{"title":"A review on optimization methods applied to energy management system","authors":"A. Graa, F. Benhamida","doi":"10.5937/sjm15-22519","DOIUrl":"https://doi.org/10.5937/sjm15-22519","url":null,"abstract":"Energy is fundamental in supporting people's daily subsists and the continual mission for human life improvement. The computer-aided instruments system used by electric utility grids or microgrids operators to control, monitor, and optimize the power system operation is generally named Energy Management System (EMS). The topic of optimization methods applied to decision making problems in such system is a difficult and complex combination of mathematical formulation, modeling and algorithmic solution. The best result in such process is applied to the problem to be optimized, which must be studied in great depth. Furthermore, difficult mathematical calculations and procedures can be elaborated; also, computer knowledge and software engineering competences must be provided. The subject of this paper is an overview of the existing important optimization methods used in electric power management system such as unit commitment, optimal power flow and economic dispatch.","PeriodicalId":44603,"journal":{"name":"Serbian Journal of Management","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41739610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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