Family-owned businesses are extremely important to Nigeria's economy, creating jobs, generating income, and helping the country's GDP increase. However, the Heir Apparent's readiness to take on leadership responsibilities poses a threat to their sustainability. Myriads of research on family businesses and their sustainability exist, but little of it has looked at heir apparent as a factor of sustainability. By analyzing the relationship between heir apparent preparedness and the sustainability of selected family-owned firms in Lagos State, Nigeria, this study seeks to bridge the gap in literature. Drawing on a deductive methodology, the study employs a cross-sectional survey to gather quantitative data. Responses from 388 family-owned enterprises were obtained using a questionnaire. Data were analyzed by applying SPSS package, version 25. The findings reveal significant positive relationships between Heir Apparent Level of Education, Heir Apparent Experience, and Quality of Mentorship Received by Heir Apparent, and their joint effect with family business sustainability. It was thereby concluded that heir apparent level of preparedness impacts the sustainability of family businesses in Lagos State. The study recommends prioritizing formal education, providing diverse experiential learning opportunities, and establishing strong mentorship programs to enhance family business sustainability.
{"title":"HEIR APPARENT PREPAREDNESS AND SELECTED FAMILY BUSINESS SUSTAINABILITY IN LAGOS STATE NIGERIA","authors":"Olufemi Olabode Olayemi, Taofeek Olalekan Gbadamosi","doi":"10.22190/fueo230727004o","DOIUrl":"https://doi.org/10.22190/fueo230727004o","url":null,"abstract":"Family-owned businesses are extremely important to Nigeria's economy, creating jobs, generating income, and helping the country's GDP increase. However, the Heir Apparent's readiness to take on leadership responsibilities poses a threat to their sustainability. Myriads of research on family businesses and their sustainability exist, but little of it has looked at heir apparent as a factor of sustainability. By analyzing the relationship between heir apparent preparedness and the sustainability of selected family-owned firms in Lagos State, Nigeria, this study seeks to bridge the gap in literature. Drawing on a deductive methodology, the study employs a cross-sectional survey to gather quantitative data. Responses from 388 family-owned enterprises were obtained using a questionnaire. Data were analyzed by applying SPSS package, version 25. The findings reveal significant positive relationships between Heir Apparent Level of Education, Heir Apparent Experience, and Quality of Mentorship Received by Heir Apparent, and their joint effect with family business sustainability. It was thereby concluded that heir apparent level of preparedness impacts the sustainability of family businesses in Lagos State. The study recommends prioritizing formal education, providing diverse experiential learning opportunities, and establishing strong mentorship programs to enhance family business sustainability.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":" 30","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141128504","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}
Anton Kvitka, Dmytro Sosnin, Yuliia Kvitka, Kateryna Andreieva
Doing business in the conditions of globalization and rapid changes requires from entrepreneurs constant development and adaptation, search for new ideas and use of advanced technologies. Active competition and functioning in conditions of uncertainty require the formation of new competitive advantages, effective management of business processes and digital awareness. The aim of the paper is the systematization of the key approaches to implementation of artificial intelligence in business processes of the company and assessment of its influence on business results Empirical research uses quantitative methodology. Secondary data is collected from surveys and reports of leading world consulting companies. Within the framework of the research, the essence and key directions of artificial intelligence development were studied. Analysis of the use of artificial intelligence in company’s business processes was conducted. The positive cases of artificial intelligence implementation were considered, the influence of AI solutions on the development of modern organizations was determined. Advantages and disadvantages of AI solutions for business were considered.
{"title":"THE ROLE OF ARTIFICIAL INTELLIGENCE IN THE DEVELOPMENT OF THE COMPANY'S BUSINESS PROCESSES","authors":"Anton Kvitka, Dmytro Sosnin, Yuliia Kvitka, Kateryna Andreieva","doi":"10.22190/fueo231206003k","DOIUrl":"https://doi.org/10.22190/fueo231206003k","url":null,"abstract":"Doing business in the conditions of globalization and rapid changes requires from entrepreneurs constant development and adaptation, search for new ideas and use of advanced technologies. Active competition and functioning in conditions of uncertainty require the formation of new competitive advantages, effective management of business processes and digital awareness. The aim of the paper is the systematization of the key approaches to implementation of artificial intelligence in business processes of the company and assessment of its influence on business results Empirical research uses quantitative methodology. Secondary data is collected from surveys and reports of leading world consulting companies. Within the framework of the research, the essence and key directions of artificial intelligence development were studied. Analysis of the use of artificial intelligence in company’s business processes was conducted. The positive cases of artificial intelligence implementation were considered, the influence of AI solutions on the development of modern organizations was determined. Advantages and disadvantages of AI solutions for business were considered.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":" 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141128540","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 manufacturing firms are blamed for the inability to fulfill their obligations to the government on working capital inadequacy and ineffective plan, control and monitoring which led to business failures, and profitability reduction which invariably reduced tax payable to the government in the past. To this effect, therefore, this study examined working capital effect on tax payable in Nigeria manufacturing companies. Ten manufacturing companies were selected from listed manufacturing companies in the Nigeria stock exchange jurisdiction from 2010 to 2022. The data sourced were: receivable, inventory, payable, profit before tax, and the firm size (the net asset of the companies) from published annual financial statement from 2010 to 2022. After the data arrangement, we employed panel data analysis to gauge working capital effect on tax payable in Nigerian manufacturing companies. We conducted unit root test (Panel) to examine the stationary of the variables. Pearson correlation, panel regression analysis, Feasible Generalized Least Squares (FGLS), and other post estimation tests like autocorrelation, heteroskedasticity test, and Hausman test was also launched to gauge the model suitability between random and fixed effect while Breusch – Pagan LM was further launched to select between random and Pooled OLS. The outcome shows that receivable, inventory, and payable are favourably significant to TAXPAB which ultimately divulges the significance of working capital components on tax payable. Conclusively, working capital significantly, statistically and progressively influences tax payable in Nigeria manufacturing companies. We further recommended that more efforts should be expended by manufacturing companies to effectively utilize their working capital in their custody because a goodexploitation of working capital enhances company’s profitability and augments the strength for markets competitiveness, firm value, and shareholders’ wealth.
{"title":"WORKING CAPITAL AND TAX PAYABLE: ANALYSIS OF INTERRELATIONSHIP IN MANUFACTURING COMPANIES","authors":"T. A. Adegbite, S. J. Inyada","doi":"10.22190/fueo230211002a","DOIUrl":"https://doi.org/10.22190/fueo230211002a","url":null,"abstract":"Most of the manufacturing firms are blamed for the inability to fulfill their obligations to the government on working capital inadequacy and ineffective plan, control and monitoring which led to business failures, and profitability reduction which invariably reduced tax payable to the government in the past. To this effect, therefore, this study examined working capital effect on tax payable in Nigeria manufacturing companies. Ten manufacturing companies were selected from listed manufacturing companies in the Nigeria stock exchange jurisdiction from 2010 to 2022. The data sourced were: receivable, inventory, payable, profit before tax, and the firm size (the net asset of the companies) from published annual financial statement from 2010 to 2022. After the data arrangement, we employed panel data analysis to gauge working capital effect on tax payable in Nigerian manufacturing companies. We conducted unit root test (Panel) to examine the stationary of the variables. Pearson correlation, panel regression analysis, Feasible Generalized Least Squares (FGLS), and other post estimation tests like autocorrelation, heteroskedasticity test, and Hausman test was also launched to gauge the model suitability between random and fixed effect while Breusch – Pagan LM was further launched to select between random and Pooled OLS. The outcome shows that receivable, inventory, and payable are favourably significant to TAXPAB which ultimately divulges the significance of working capital components on tax payable. Conclusively, working capital significantly, statistically and progressively influences tax payable in Nigeria manufacturing companies. We further recommended that more efforts should be expended by manufacturing companies to effectively utilize their working capital in their custody because a goodexploitation of working capital enhances company’s profitability and augments the strength for markets competitiveness, firm value, and shareholders’ wealth.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":" 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141128607","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 banking industry contributes to the economic expansion since it is considered the keeper and supplier of liquid capital, essential for all commercial and industrial activity. The primary goal of commercial banks is to generate profits while serving clients and maintaining liquidity positions. Hence, this study aims to examine and evaluate the relationship between liquidity (measured through the Liquid assets and Liquid assets to short-term liabilities ratio) and profitability (measured through ROA and ROE) position of the commercial banking system in North Macedonia and Serbia in order to determine whether changes in liquidity levels influence profitability. Since the ten-year examination period (2012-2021) includes the emergence of the Coronavirus global health pandemic, additional tests were conducted to find out whether the sanitary crisis caused changes in the liquidity-profitability dynamics.By employing descriptive, correlation and regression analysis, and observing two sub-periods (2010-2019 vs 2020-2021), we infer changes in the liquidity-profitability positions in times of crisis in both countries. These findings reinvigorate the knowledge on liquidity and profitability performance in times of instability as this is a pioneer study in evaluating the pandemic impact on liquidity and performance using empirics in these two markets. Furthermore, by scrutinizing the interrelationship between liquidity and profitability, the findings reveal that associations are time-dependent, with policy implications for banks and financial industry regulators.
{"title":"LIQUIDITY-PROFITABILITY DYNAMICS: IS THE BANKING INDUSTRY RESILIENT IN TIMES OF CRISIS?","authors":"Dusica Stevcevska-Srbinoska, Verica Gjelevska","doi":"10.22190/fueo231129001s","DOIUrl":"https://doi.org/10.22190/fueo231129001s","url":null,"abstract":"The banking industry contributes to the economic expansion since it is considered the keeper and supplier of liquid capital, essential for all commercial and industrial activity. The primary goal of commercial banks is to generate profits while serving clients and maintaining liquidity positions. Hence, this study aims to examine and evaluate the relationship between liquidity (measured through the Liquid assets and Liquid assets to short-term liabilities ratio) and profitability (measured through ROA and ROE) position of the commercial banking system in North Macedonia and Serbia in order to determine whether changes in liquidity levels influence profitability. Since the ten-year examination period (2012-2021) includes the emergence of the Coronavirus global health pandemic, additional tests were conducted to find out whether the sanitary crisis caused changes in the liquidity-profitability dynamics.By employing descriptive, correlation and regression analysis, and observing two sub-periods (2010-2019 vs 2020-2021), we infer changes in the liquidity-profitability positions in times of crisis in both countries. These findings reinvigorate the knowledge on liquidity and profitability performance in times of instability as this is a pioneer study in evaluating the pandemic impact on liquidity and performance using empirics in these two markets. Furthermore, by scrutinizing the interrelationship between liquidity and profitability, the findings reveal that associations are time-dependent, with policy implications for banks and financial industry regulators.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"70 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140439193","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}
Procedures for eliminating internal results in practice may vary due to the different nature of the relationship between related parties, but also due to the vagueness of the accounting regulation, which opens up space for alternative procedures in practice. The ways of eliminating internal profits and losses differ primarily depending on whether full consolidation of financial statements or one-line consolidation, followed by the application of the equity method, is performed. At the same time, with both mentioned consolidation procedures, questions are raised regarding whether downstream and upstream transactions should have the same treatment, that is, whether the total internal result should be eliminated or only its part that is proportional to the ownership share. The aim of this paper consists in analyzing specific issues of eliminating internal results, while considering the current state and the possibility of improving accounting regulations in that field.
{"title":"SOME CHALLENGES IN THE CONSOLIDATION OF UNREALIZED INTRA-GROUP PROFITS AND LOSSES","authors":"Vojislav Sekerez, D. Spasić","doi":"10.22190/fueo230706014s","DOIUrl":"https://doi.org/10.22190/fueo230706014s","url":null,"abstract":"Procedures for eliminating internal results in practice may vary due to the different nature of the relationship between related parties, but also due to the vagueness of the accounting regulation, which opens up space for alternative procedures in practice. The ways of eliminating internal profits and losses differ primarily depending on whether full consolidation of financial statements or one-line consolidation, followed by the application of the equity method, is performed. At the same time, with both mentioned consolidation procedures, questions are raised regarding whether downstream and upstream transactions should have the same treatment, that is, whether the total internal result should be eliminated or only its part that is proportional to the ownership share. The aim of this paper consists in analyzing specific issues of eliminating internal results, while considering the current state and the possibility of improving accounting regulations in that field.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"46 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139186616","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}
In this paper, the topic of accounting treatment of cryptocurrencies is examined through the lens of International Financial Reporting Standards (hereinafter: IFRS). An overview of the current body of research in this area is presented, along with recommendations for further improvements in cryptocurrency accounting records. This paper is based on a systematic review of scientific and professional literature as well as the current IFRS framework. Specifically, the systematic review is designed to investigate the issue of recognizing cryptocurrency and evaluate its confirmation and evidence in the available literature and IFRS framework. While crypto markets grew rapidly initially, they have enjoyed great investor interest over the past decade, despite the high risk and volatility of earnings, which raised the issue of institutional regulation of cryptocurrencies. The paper attempts to identify the most appropriate accounting treatment of cryptocurrency transactions under existing IFRS, as there is no specific regulation in place.
{"title":"TRENDS AND PERSPECTIVES IN CRYPTOCURRENCIES RECOGNITION ACCORDING TO INTERNATIONAL ACCOUNTING REGULATION","authors":"Sunčica Milutinović, D. Dimitrijevic","doi":"10.22190/fueo230809015m","DOIUrl":"https://doi.org/10.22190/fueo230809015m","url":null,"abstract":"In this paper, the topic of accounting treatment of cryptocurrencies is examined through the lens of International Financial Reporting Standards (hereinafter: IFRS). An overview of the current body of research in this area is presented, along with recommendations for further improvements in cryptocurrency accounting records. This paper is based on a systematic review of scientific and professional literature as well as the current IFRS framework. Specifically, the systematic review is designed to investigate the issue of recognizing cryptocurrency and evaluate its confirmation and evidence in the available literature and IFRS framework. While crypto markets grew rapidly initially, they have enjoyed great investor interest over the past decade, despite the high risk and volatility of earnings, which raised the issue of institutional regulation of cryptocurrencies. The paper attempts to identify the most appropriate accounting treatment of cryptocurrency transactions under existing IFRS, as there is no specific regulation in place.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"50 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139186388","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}
Nenad Gajić, Vanja Grozdić, Jelena Demko-Rihter, Jarmila Duháček Šebestová
The paradigm of market equilibrium and the “efficient-market hypothesis” tied to it, dealing specifically with the behavior of capital markets, has no explanation for financial bubbles and their bursting that is leading to stock market crashes. Accordingly, the main goal of this paper is to discuss the inefficiency of markets, with examples of corporate decisions that directly abuse such inefficiency to psychologically motivate desired behavior of potential customers. To test the efficiency market hypothesis, we have used Stoxx Europe 600 index historical closing daily prices, for the period from 2012–2022. Using both non-parametric and parametric tests, such as the Kolmogorov–Smirnov test, run–test for random order, and ARIMA regression, we reject the hypothesis that the market is efficient in a weak form because it doesn’t follow a random walk. Also, basic-level problems of economic theory were analyzed, emphasizing the view that perhaps the time has come to align the fundamentals of economic theory with basic concepts that have been used in practice for years.
{"title":"TESTING MARKET EFFICIENCY: THE ROAD TO INTRINSIC VALUATION","authors":"Nenad Gajić, Vanja Grozdić, Jelena Demko-Rihter, Jarmila Duháček Šebestová","doi":"10.22190/fueo230717011g","DOIUrl":"https://doi.org/10.22190/fueo230717011g","url":null,"abstract":"The paradigm of market equilibrium and the “efficient-market hypothesis” tied to it, dealing specifically with the behavior of capital markets, has no explanation for financial bubbles and their bursting that is leading to stock market crashes. Accordingly, the main goal of this paper is to discuss the inefficiency of markets, with examples of corporate decisions that directly abuse such inefficiency to psychologically motivate desired behavior of potential customers. To test the efficiency market hypothesis, we have used Stoxx Europe 600 index historical closing daily prices, for the period from 2012–2022. Using both non-parametric and parametric tests, such as the Kolmogorov–Smirnov test, run–test for random order, and ARIMA regression, we reject the hypothesis that the market is efficient in a weak form because it doesn’t follow a random walk. Also, basic-level problems of economic theory were analyzed, emphasizing the view that perhaps the time has come to align the fundamentals of economic theory with basic concepts that have been used in practice for years.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"21 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139186610","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 aim of the research is to summarize current trends in the use of digital technologies in logistics and supply chain management, to study the nature of their impact on the development of the logistics system of an economic entity. The article summarizes the main trends in the digitalization of supply chains and logistics in trade and industry. The methodical aspects of digital transformation of supply chains were considered. It is established that the emphasis in the organization and management of supply chains has shifted towards the transformation of traditional chains into the space of the digital economy. The article identifies promising areas and challenges for the use of digital technologies in logistics and supply chain management: the Internet of Things, blockchain, cloud services, augmented reality, robots, drones, and 3D printing. The trends in the development of digital technologies are explored, as their integration into global supply chains can accelerate, simplify and reduce the cost of the supply process at almost all stages. Digital technologies that improve the process of goods movement in supply chains are presented in the article in terms of logistics in the context of managing the relevant flows: material, information, financial, service. The state of development of cooperation between the main types of economic activities that produce technological and digital technologies and types of economic activities that provide logistics and supply management in the European Union was assessed.
本研究旨在总结当前在物流和供应链管理中使用数字技术的趋势，研究其对经济实体物流系统发展的影响性质。文章总结了贸易和工业中供应链和物流数字化的主要趋势。文章考虑了供应链数字化转型的方法问题。文章认为，供应链组织和管理的重点已转向将传统供应链转变为数字经济空间。文章指出了在物流和供应链管理中使用数字技术的前景广阔的领域和面临的挑战：物联网、区块链、云服务、增强现实、机器人、无人机和 3D 打印。文章探讨了数字技术的发展趋势，因为将数字技术融入全球供应链可以加快、简化几乎所有阶段的供应流程并降低成本。文章从物流的角度介绍了改善供应链中货物流动过程的数字技术，包括管理相关流：材料流、信息流、资金流和服务流。文章评估了欧盟生产技术和数字技术的主要经济活动类型与提供物流和供应管理的经济活动类型之间的合作发展状况。
{"title":"DIGITAL TECHNOLOGIES IN LOGISTICS AND SUPPLY CHAIN MANAGEMENT","authors":"Volodymyr B. Rodchenko, Yuliia Prus","doi":"10.22190/fueo230517012r","DOIUrl":"https://doi.org/10.22190/fueo230517012r","url":null,"abstract":"The aim of the research is to summarize current trends in the use of digital technologies in logistics and supply chain management, to study the nature of their impact on the development of the logistics system of an economic entity. The article summarizes the main trends in the digitalization of supply chains and logistics in trade and industry. The methodical aspects of digital transformation of supply chains were considered. It is established that the emphasis in the organization and management of supply chains has shifted towards the transformation of traditional chains into the space of the digital economy. The article identifies promising areas and challenges for the use of digital technologies in logistics and supply chain management: the Internet of Things, blockchain, cloud services, augmented reality, robots, drones, and 3D printing. The trends in the development of digital technologies are explored, as their integration into global supply chains can accelerate, simplify and reduce the cost of the supply process at almost all stages. Digital technologies that improve the process of goods movement in supply chains are presented in the article in terms of logistics in the context of managing the relevant flows: material, information, financial, service. The state of development of cooperation between the main types of economic activities that produce technological and digital technologies and types of economic activities that provide logistics and supply management in the European Union was assessed.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"10 3-4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139186684","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}
Although the implementation of the social franchising concept is relatively new in agricultural business, examples of successful business stories have recently appeared, especially in the underdeveloped countries of Asia, Africa and South America. The aim of the paper is to determine the best examples of entrepreneurial ecosystems of agricultural social franchising by applying a qualitative multiple case study analysis and point out the importance of the implementation of agricultural social franchising in the development of agribusiness in the Republic of Serbia. The experiences of analyzed social agricultural franchises from Kenya, Bangladesh and Nigeria can serve as an example of good practice for the development of social franchising in rural areas in Serbia, with the aim of developing productive agriculture that will lead to economic development. It is very important to enable the development of social agricultural franchising through the Strategy of agriculture and rural development, bearing in mind a number of benefits that can be realized in Serbian agriculture, primarily when it comes to the development of rural areas and the increase in the income and social welfare of farmers.
{"title":"ENTREPRENEURIAL ECOSYSTEM OF AGRICULTURAL SOCIAL FRANCHISING","authors":"Suzana Stefanović, Milica Stanković","doi":"10.22190/fueo230904013s","DOIUrl":"https://doi.org/10.22190/fueo230904013s","url":null,"abstract":"Although the implementation of the social franchising concept is relatively new in agricultural business, examples of successful business stories have recently appeared, especially in the underdeveloped countries of Asia, Africa and South America. The aim of the paper is to determine the best examples of entrepreneurial ecosystems of agricultural social franchising by applying a qualitative multiple case study analysis and point out the importance of the implementation of agricultural social franchising in the development of agribusiness in the Republic of Serbia. The experiences of analyzed social agricultural franchises from Kenya, Bangladesh and Nigeria can serve as an example of good practice for the development of social franchising in rural areas in Serbia, with the aim of developing productive agriculture that will lead to economic development. It is very important to enable the development of social agricultural franchising through the Strategy of agriculture and rural development, bearing in mind a number of benefits that can be realized in Serbian agriculture, primarily when it comes to the development of rural areas and the increase in the income and social welfare of farmers.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"30 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139186308","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}
Danijela Pantović, Drago Cvijanović, G. Cvijanović, Ljiljana Šobić
The traditional Serbian folk dance Kolo was included in the UNESCO Representative List of the Intangible Cultural Heritage of Humanity in 2017. Kolo is a communal folk dance that is performed at both public and private celebrations of the most significant occasions in people's lives and the lives of communities. Kolo is an important socially integrating component of Serbian cultural heritage. The paper investigates the potential of learning Serbian dance as part of the cultural tourism offer of different regions in Serbia. Data were obtained through a survey using the Likert scale and analysis using SmartPls software. The aim of this research is to examine the tradition of local tourism based on folklore culture with which tourists have cultural contact as well as the effect of culture and tradition on the intention and interest in folklore culture. The study reveals a high and statistically significant positive impact of motivation for travel, culture, tradition and interest in Serbian traditional dance - kolo.
{"title":"TRADITION AND CULTURE AS THE BASE FOR THE TOURISM PRODUCT: CASE OF UNESCO INTANGIBLE HERITAGE","authors":"Danijela Pantović, Drago Cvijanović, G. Cvijanović, Ljiljana Šobić","doi":"10.22190/fueo230130007p","DOIUrl":"https://doi.org/10.22190/fueo230130007p","url":null,"abstract":"The traditional Serbian folk dance Kolo was included in the UNESCO Representative List of the Intangible Cultural Heritage of Humanity in 2017. Kolo is a communal folk dance that is performed at both public and private celebrations of the most significant occasions in people's lives and the lives of communities. Kolo is an important socially integrating component of Serbian cultural heritage. The paper investigates the potential of learning Serbian dance as part of the cultural tourism offer of different regions in Serbia. Data were obtained through a survey using the Likert scale and analysis using SmartPls software. The aim of this research is to examine the tradition of local tourism based on folklore culture with which tourists have cultural contact as well as the effect of culture and tradition on the intention and interest in folklore culture. The study reveals a high and statistically significant positive impact of motivation for travel, culture, tradition and interest in Serbian traditional dance - kolo.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"76 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139279395","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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