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Vol 18, No 36 (2024)

Volume 18 Issue 36 2024

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Edited by:

Vitomir Starčević

Vol 18, No 36 (2024):

Novi Ekonomist

Published: 30.12.2024.

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56 DAYS

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28.05.2025. Review Online First
APPLICATION OF ARTIFICIAL INTELLIGENCE IN CLUSTER ANALYSIS FOR ENHANCING PRODUCTIVITY AND SUSTAINABILITY IN AGRICULTURAL PRODUCTION IN THE REPUBLIC OF SRPSKA

By Mirela Mitrašević, Radomir Bodiroga, Katica Radosavljev, Biljana Chroneos Krasavac

This research investigates how cluster analysis and artificial intelligence (AI) can be used to increase agricultural productivity and sustainability in the Republic of Srpska. More accurate strategic planning and effective resource management were made possible by the identification of particular clusters with comparable traits through the analysis of climatic parameters and the classification of regions. While the use of machine learning techniques allows for more precise forecasting of the effect of climatic conditions on yields, the suggested insurance models, which are based on cluster analysis, have the potential to improve farmers' financial protection. This research emphasizes the necessity of creating customized insurance models that account for particular climatic risks and implementing contemporary technology to enhance the claims resolution procedure. Through these approaches, it is possible to significantly increase the resilience of the agricultural sector to climate change and ensure better financial stability and safer production.

Management in modern business conditions requires accurate and timely information about process and activity costs, product costs, and other cost objects. The emergence of activity-based costing (ABC) addresses such demands. Activity-based costing and activity-based budgeting are seen as pillars of an efficient process for implementing business strategies. This paper examines the prevalence and challenges of implementing modern cost accounting and management systems, with a particular focus on the ABC method, in enterprises in the Republic of Srpska. The aim of the research is to present costing approaches using case studies of large companies in the Republic of  Srpska, as well as to identify the challenges of implementing the ABC system, and ultimately to propose a solution for implementing the ABC approach. The research findings provide insights into current cost management practices in the Republic of Srpska and highlight opportunities for further advancements through the adoption of innovative approaches. The paper concludes with a proposed solution for implementing the ABC method in one of the enterprises from the multiple case study, which is demonstrated using a specific example of their products

Current issue
30.12.2024. Scientific article
MONEY LAUNDERING USING CRYPTOCURRENCIES

By Marijana Joksimović, Marija Paunović, Stevica Dedjanski

30.12.2024. Scientific article
SECURITY AND TRANSPARENCY IN FINANCIAL REPORTING: TRANSFORMATION THROUGH TRIPLE-ENTRY ACCOUNTING

By Teodor Petrović, Ljiljana Tanasić, Željana Jovičić

30.12.2024. Review
EXPERIENCES OF ECONOMIC, INSTITUTIONAL AND DEMOGRAPHIC TRANSITION IN THE WESTERN BALKANS

By Dragana Milenković, Tanja Vujović, Ivan Milenković

30.12.2024. Review
SPECIFICS OF RISK MANAGEMENT OF ENTERPRISE TRANSFORMATION IN INTERNATIONAL BUSINESS

By Dragana Vujičić Stefanović, Dragan Milovanović, Boško Mekinjić

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THE CONCEPT OF CLOUD MARKETING

By Mirjana Maksimović, Zvjezdana Gavrilović

Industry 4.0 can be interpreted as a business discipline that has led to the automation and digitalization of business systems thanks to Internet of Тhings, Cyber Physical Systems, Cognitive computing, but also Cloud computing that is crucial to the continuous development of Industry 4.0, because Cloud-based technology connects and centralizes information essential for business, and in addition provides an open source platform that improves research for the entire industry. In order to meet customer needs, different industrial branches apply Cloud computing which allows companies to adapt more easily to ongoing technological innovations. Cloud computing with unlimited networking capabilities enables businesses to optimize their business processes and activate their applications, which provide them with data necessary for business analytics. Additionally, thanks to innovative applications on the Cloud platform, personal adaptation to the individual needs of users is made. All of this has also affected the emergence of Cloud-based marketing, which implies the activity of organizations focused on the digital delivery of products and services tailored to users’ individual needs. This paper analyzes the concept of Cloud marketing and defines Cloud marketing platforms that contribute to the optimization of marketing strategies, and the increase in return on investment.

28.06.2024. Review
FINANCIAL BENCHMARKING IN THE HOTEL INDUSTRY: ANALYSIS OF THE EFFICIENCY AND PERFORMANCE OF HOTELS IN THE CONTEXT OF THE NEW ECONOMIC REALITY

By Katarina Božić, Dražen Bojagić, Kristina Pavlović

In modern business, achieving a high level of efficiency and optimal company performance becomes crucial for maintaining a competitive advantage. Accordingly, financial benchmarking is an indispensable tool in business evaluation, enabling organizations to systematically and continuously measure and compare their own organizational business processes in relation to the business processes of leaders around the world. Therefore, this paper is dedicated to a deeper analysis of the efficiency and performance of hotels in the Republic of Srpska through the application of financial benchmarking. The goal of the research is to understand the factors that influence the efficiency and performance of hotels in the Republic of Srpska through financial benchmarking, with a focus on identifying value drivers, all for the purpose of improving the company's performance. Through a detailed analysis of financial reports and relevant indicators, the research will provide insight into the current situation in the sector, identify potential areas of improvement and contribute to the overall improvement of the hotel industry's competitiveness in the region. For the purpose of analysis, two hotels in Republic of Srpska were selected that meet the conditions to be the subject of this analysis through financial benchmarking. Accordingly, annual financial reports were used, as well as other data from the stock market related to the shares and dividends of the observed hotels for a period of three years, from 2020 to 2022.

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