Innovative Management and Firm Performance

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Innovative Management andFirm PerformanceAn Interdisciplinary Approach

Edited by

Maja Levi Jaksic

Sla -dana Barjaktarovic Rakocevic

and

Milan MarticFaculty of Organizational Sciences (FOS), University of Belgrade, Serbia

Selection and editorial content © Maja Levi Jakšic, Sladana Barjaktarovic Rakocevic and Milan Martic 2014Individual chapters © Respective authors 2014

All rights reserved. No reproduction, copy or transmission of thispublication may be made without written permission.

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The authors have asserted their rights to be identifi ed as the authors of this workin accordance with the Copyright, Designs and Patents Act 1988.

First published 2014 byPALGRAVE MACMILLAN

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Softcover reprint of the hardcover 1st edition 2014 978-1-137-40220-2

ISBN 978-1-137-40222-6 (eBook)ISBN 978-1-349-48666-3DOI 10.1057/9781137402226

Contents

List of figures viii

List of tables xi

Preface xiv

Acknowledgements xviii

Notes on Contributors xix

Part I Innovative and Cooperative Models for CSR andSustainability

1 The Effect of Human Capital on the Internationalization ofProfessional Firms 3Lori P. Radulovich, Rajshekhar (Raj) G. Javalgi, andRobert F. Scherer

2 Technology and Innovation Management Education in Serbia 37Maja Levi Jaksic, Sanja Marinkovic, and Jovana Kojic

3 The Influence of the Knowledge-Based Economy on theCompetitiveness of European Economies and Businesses 68Milos Parezanin, Sandra Jednak, and Dragana Kragulj

4 The Impact of Public Procurement on the Implementation ofPublic-Private Partnerships 91Nevenka Zarkic-Joksimovic, Sla−dana Benkovic, and Predrag Jovanovic

5 Social Responsibility and Ethics of Marketing and CorporateCommunications 106Tamara Vlastelica Bakic, Vinka Filipovic, andMilica Kostic-Stankovic

6 EPI: Environmental Feedback on the Organization’sSustainability 122Marko Cirovic, Natasa Petrovic, and Dragoslav Slovic

Part II Innovative Business and ManagementApproaches and Practices

7 Achieving Opposites Simultaneously: A Review ofOrganizational Ambidexterity 139Ivan Stefanovic, Sloboda Prokic, and Dragan Milosevic

v

vi Contents

8 The Holding Company as a Possible Institutional Solution forthe Public Sector Organization 165Ondrej Jasko, Ivan Todorovic, and Stefan Komazec

9 Marketing Orientation and Business Performance of PublicAdministration 187Slavica Cicvaric Kostic, Vinka Filipovic, and Jovanka Vukmirovic

10 Development of Co-Operation-Based Company Standards:The Case of Innovative Practice in Public Service Companies 200Ivana Mijatovic, Mladen Cudanov, and Jovan Krivokapic

11 Improvement of Supply Chain Management by BullwhipEffect Reduction 214Danica Lecic-Cvetkovic, Nikola Atanasov, and JasminaOmerbegovic-Bijelovic

Part III Managing and Measuring Performance

12 Innovation, Organizational Flexibility, and Performance 235Angel Martınez-Sanchez, Marıa-Jose Vela-Jimenez,Manuela Perez-Perez, and Silvia Abella-Garces

13 Working Capital Management Practices and FinancialPerformance: Evidence from Serbia 254Sla−dana Barjaktarovic Rakocevic, Milica Latinovic, and MilosMilosavljevic

14 Strategic Project Management – Project Strategy andMeasurement of Success 276Dejan Petrovic, Marko Mihic, and Vladimir Obradovic

15 Measuring Service Performances of the Public Enterprise PTT“SERBIA” 290Marija -Dor−devic, Mirko Vujosevic, and Vladeta Petrovic

16 Fractals Model of Technology Efficiencies Probabilities forFlexible Use in Combat Units 306Momcilo Milinovic, Olivera Jeremic, and Mitar Kovac

Part IV IT in Business and Management

17 Management of Cloud Computing Infrastructure forE-Learning 329Vladimir Vujin, Konstantin Simic, and Aleksandar Milic

18 Implementation of CRM Concept in e-Education 347Marko Vulic, Aleksandra Labus, and Marijana Despotovic-Zrakic

Contents vii

19 Identity Management – A Survey 370Marija Bogicevic, Ivan Milenkovic, and Dejan Simic

20 Conjoint-Based Approach to Location Choice in the RetailIndustry: Conceptual Framework 385Bisera Andric Gusavac, Dragana Stojanovic, andMarija Kuzmanovic

21 Data Mining Models for Prediction of Customers’ Satisfaction:The CART Analysis 401Marina Dobrota, Milica Bulajic, and Zoran Radojicic

22 Set-Covering-Based Approximate Algorithm Using EnhancedSavings for Solving Vehicle Routing Problem 422Milan Stanojevic and Bogdana Stanojevic

23 Introduction and Implementation of Electronic Health Card 444Marina Jovanovic Milenkovic, Dejan Milenkovic, andVeljko Jeremic

Index 465

List of Figures

1.1 Structural equation model with standardized parameterestimates 21

2.1 The entrepreneurial context of the basic university roles andactivities in the perspective of direct/indirect impacts 42

2.2 Study program development, Triple Helix, and economicdevelopment 43

3.1 Composition of GDP (% of GDP) – the southeast Europeancountries 71

3.2 Annual growth percentages of labor productivity of EU SMEsby high and low-tech manufacturing and by high and lowknowledge intensive services, 2009–2012 83

3.3 Annual growth percentages of employment of EU SMEs byhigh and low-tech manufacturing and by high and lowknowledge intensive services, 2009–2012 83

5.1 The hierarchy of the dimensions of social responsibility ofmarketing and corporate communications 109

8.1 Organizational structure of municipal holding company inGyor, Hungary 169

8.2 Organizational chart of public sector in Ljubljana, Slovenia 1718.3 Set of control instruments for activities of municipal

companies in Milan, Italy 1738.4 Organizational structure of Vienna holding company 17510.1 How a company gets a standard it needs 20611.1 Bullwhip effect on planned business volume in SC members 21711.2 Basic APS modules and appropriate business functions 22211.3 Graphic model of forecasting final demand in SC 22511.4 Overlapping APS systems of different supply chain participants 22913.1 Net working capital 25813.2 Cash conversion cycle 26214.1 The relationship between the strategic and the project

managements in the organization 28116.1 Maximum probabilities of three basic functions exposed on

three represented axes and composed in fractals of efficiency 31316.2 Geometrical expression of real combat system performances

by their efficiency functions fractal and changes directions offrame by axes rotation 315

16.3 Approximated semi-empirical function of efficiencyprobabilities vs. variable initial points 320

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List of Figures ix

16.4 Approximated semi-empirical function of probabilities vs.equal relevancies 321

17.1 Different views of IT infrastructure 33117.2 IT infrastructure architecture 33317.3 Layers of the infrastructure model 33617.4 Architecture of private cloud 33817.5 Types of delivering services 33917.6 Delivering IaaS 33917.7 Mobility of infrastructure and services 34017.8 IaaS in e-learning 34117.9 PaaS in e-learning 34217.10 Allocating resources and making reservation of resources in

the private cloud 34318.1 Influence of CRM in an educational institution 35118.2 The eight building blocks of SRM 35318.3 Basic SRM modules 35518.4 CRM system architecture in E-business Lab 35818.5 PhD studies module 36018.6 Hits – “Internet marketing” web page 36318.7 Hits – “Internet of Things” web page 36318.8 Number of students – “Internet marketing” 36418.9 The ratio of students who chose the “Internet marketing” to

the total number of students 36418.10 Number of students – “Internet of Things” 36518.11 The ratio of students who chose the “Internet of Things” to

the total number of students 36518.12 E-business Lab’s Facebook page 36618.13 Reactions of students to social activities of E-business Lab 36719.1 Authentication methods 37719.2 Architectural principles for IAM 37719.3 Logical components of an IAM 38120.1 Business environment and business characteristic 39220.2 Creating profiles in conjoint analysis 39320.3 Framework for choosing location using conjoint analysis 39621.1 Data mining goals and operations 40321.2 Dividing data in order to obtain pure subsets (classes) 41021.3 Class assignment probability 41121.4 Prediction of customers’ satisfaction using CART analysis 41623.1 Electronic health card connects all participants in the

health-care system 45023.2 Major components inside electronic health card 45123.3 Connection between electronic health cards with other

stakeholders in healthcare system 455

x List of Figures

23.4 Electronic health card that will be implemented of TheRepublic Fund of Health Insurance 457

23.5 Electronic health card implemented at the Ministry ofDefense and the Serbian Armed Forces 457

23.6 Bar chart of advantages electronic health card 45923.7 Bar chart of possible benefits of electronic health card for

doctors and patients 45923.8 Bar chart of ways to reduce problems through electronic

health card 46023.9 Bar chart of suggestions about introducing electronic health

cards 460

List of Tables

1.1 Means, standard deviations, and bivariate relationships 171.2 Factor analysis and reliability measures 181.3 Model comparison pathway estimates 221.4 Tests of models and mediation 231.5 Structural equation model construct indicators 242.1 Overview of faculties teaching TIM modules at state and

private universities in the Republic of Serbia 472.2 New findings in the academic field of TIM and thematic

units at relevant modules at UBFOS 492.3 Knowledge content of TIM as perceived by professors and

practitioners in the Republic of Serbia 532.4 TIM knowledge areas ranked by the importance for

professors and compared with their importance forpractitioners 56

2.5 TIM knowledge areas ranked by the coverage for professorsand compared with their importance ratings 57

2.6 TIM knowledge areas ranked by the deficiency for professorsand compared with their deficiency for practitioners 58

2.7 TIM knowledge areas ranked by the importance forpractitioners and compared with their importance forprofessors 59

2.8 TIM knowledge areas ranked by the practitioners’proficiency and compared with their importance ratings 61

2.9 TIM knowledge areas ranked by the deficiency forpractitioners and compared with their deficiency for professors 62

3.1 KEI and KI, the index of knowledge according to themethodology of the World Bank, 2000 and 2012 76

3.2 Number and share of enterprises by technology andknowledge base by size class in EU-27, 2011 80

3.3 Examples of sectors and countries in technology andknowledge intensive categories, 2011 81

5.1 Correlation coefficient of the attribute and corporatereputation (general public) 117

5.2 The regression model of interdependence of attributes andcorporate reputation 118

5.3 Correlation coefficient of the attribute and corporatereputation (specific stakeholders) 118

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xii List of Tables

8.1 Individual performance analysis of public companies inBelgrade 177

8.2 The number of core and non-core organizational units inBelgrade public companies 179

8.3 Span of control in public companies in Belgrade 1809.1 The goals of local government 19511.1 Application capabilities and solution details of APS systems 22412.1 Regression analysis of innovation performance, 2003–2006 24813.1 Cash conversion cycle formulae 26213.2 Descriptive statistics for profitability and liquidity measures 26713.3 Correlation matrix 26914.1 Project and strategic project managements 28415.1 Values of variable in the DEA model 30015.2 Overview of solutions in DEA solver 30215.3 Overview of solutions in DEA solver for DMU 13 30318.1 E-business Lab Google ads 36118.2 Key Performance Indicators of e-mail campaign for

E-business Lab’s Facebook page 36219.1 Comparison of three models 37520.1 Summary of major factors and sub-factors affecting

international location decision 39020.2 Examples of the key factors for retail chain business in

Hong Kong 39121.1 Customers’ foreknowledge on mobile phones and

mobile OS 40821.2 The results of CART analysis: prediction of customers’

satisfaction with mobile OS 41421.3 Variable importance 41521.4 Prediction accuracy 41622.1 Relative deviations and running times on Augerat et al.’s

test set A 43322.2 Relative deviations and running times on Christofides et al.’s

test set CMT 43322.3 Relative deviations and running times on Augerat et al.’s test

set B 43422.4 Relative deviations and running times on Christofides and

Elion’s test set E 43522.5 Relative deviations and running times on Augerat et al.’s

test set P 43622.6 Detailed results obtained for E-n101-k14 43622.7 Relative deviations and running times for FSM-FD 43722.8 Relative deviations and running times for FSM-F 43722.9 Relative deviations and running times for FSM-D 43822.10 Relative deviations and running times HVRP-D 438

List of Tables xiii

22.11 Relative deviations and running times for HVRP-FD 43922.12 Summary of the results for all groups of instances – the

averages of the relative deviations 43923.1 Percentages of desired usage 450

Preface

The current turbulent and very often unpredictable environments in whichfirms operate create pressures on academics and practitioners to betterunderstand and to respond creatively and innovatively to find solutionsfor continuous business performance success. The crucial responsibility andthe starting point for sustainable development, competitiveness, and ahigh level of business operations performance lies within creative, open,innovative, and collaborative management. Innovative management leadsto exceptional business performance at the core of economic and socialdevelopment.

This book of expert and scholarly contributions on innovation manage-ment and business performance is presented as the result of the three-day13th International Symposium of Organizational Sciences, SYMORG-012.The Symposium was held at Zlatibor, a beautiful mountain resort in Serbia,in June 2012 and was organized by the Faculty of Organizational Sciences(FOS) of the University of Belgrade.

The Symposium brought together academics, research-oriented practition-ers, experts, consultants, and various professionals in the field with a viewto refine our understanding of one of the major challenges of our future: itsinnovation dimensions.

The invited papers for the plenary Symposium sessions were presentedby eminent scholars who are recognized experts in this field from the pres-tigious universities in the world: Cambridge University, Royal HollowayUniversity, Brighton University, University of Saragosa, Washington Univer-sity, University of Cleveland, Tongji University, and University of Shanghai.It was opened officially by Professor Dejan Soskic, governor of the NationalBank of Serbia, and Professor Shahzad Ansari from Cambridge University’sJudge Business School. One of the invited speakers was Professor Robert M.Mason, president of the International Association for Management of Tech-nology – IAMOT, USA. Some of the invited papers were included in a specialissue of the international journal Management, published by the Universityof Belgrade’s Faculty of Organizational Sciences (UBFOS). Two invited papershave been extended and specially prepared for this volume.

In the discussions on open issues of innovative management, businessperformance, new technologies, and sustainability, it was the synergy of thedifferent aspects and approaches that emerged as the main contribution.The urgent need to develop new solutions came as the overall conclusionwith deep understanding that the form in which business operations areconducted today need to be transformed and further developed as they

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Preface xv

no longer provide evidence that they will enable sustainability around theworld as the momentous changes continue to characterize our planet.

The complexity of the issues raised and the diversity of the researchbrought together more than 500 authors, academics, and practitioners; 250papers were presented in the Symposium proceedings with a deep convic-tion that the next step should be a separate research volume as a collectionof the important contributions to the theme. The broad scope of the the-matic issues covered in the contributions as responses of theory and practiceto the general theme confirms that innovation, management, business, andperformance in the perspective of sustainable development and growth is amultifaceted phenomenon that cannot be easily squeezed into a particularbranch of technical social sciences or the humanities.

Innovative Management and Firm Performance: An Interdisciplinary Approachis the result of the efforts of editors and authors who have worked long andhard in preparing their chapters, characterized by a strong interdisciplinaryapproach and organized as a multidisciplinary volume converging aroundthe main theme.

The focus is on business firms as catalysts and agents of social and eco-nomic change. It is argued that sustainable development is the perfectopportunity for businesses to strengthen the evolving notion of corporatesocial responsibility (CSR), while achieving long-term growth through theinnovatory process and capitalizing on research and development.

The authors of this volume have contributed to the subject from a mul-titude of perspectives based on – or cutting across – many disciplines andspecializations.

Innovation, new discoveries, and technologies are widely recognized asthe engine for social well-being and progress. Development and growth arenot simply an immediate and systematic result of technological research anddevelopment. Entrepreneurial efforts are required to identify and exploitnew products or services that reward the stakeholders in terms of benefitsand profitability. Management philosophy and practices need to undergoconstant research and innovation. The contributions presented in thisvolume confirm that it is the open, innovative, and flexible approachesintegrating the advantages of new sustainable technologies that are respon-sible for business success harmonized with the overall economic and socialsuccess.

Innovative management is a broad approach, concept, philosophy, andstrategy positioned as a corner stone and the pillar of growth and devel-opment of firms, the economy, and society. Innovative management isrelated to different aspects, functions, and domains of an organization. Itencompasses innovativeness, flexibility, responsiveness, adaptivity that areat the heart of entrepreneurship: creating and responding to new opportu-nities; and developing new ventures and businesses; pushing and pulling

xvi Preface

new waves of economic development, new employment, and overall socialprosperity.

Innovative management involves innovative responses and strategies thatare crucial in times of crisis, but are also fundamental in times of prosperity.Innovation takes place in different forms everywhere in the world – in indus-trialized, emerging, and developing economies. Innovative strategy turnsthe vicious circle of crisis into a good one; it is a strong force in vitalizingcompetitive capacities at all levels of the economy and society. In times ofprosperity and growth, innovative strategies are dominant in obtaining andsustaining leadership and exceptional business performance. There is strongpractical evidence for the theoretical arguments of the inseparable duality ofstrong innovative capabilities and high business performance.

The six chapters in Part I, Innovative and Cooperative Models for CSR andSustainability, address the relationships and links in the overall social andeconomic context that are crucial in creating the environment that supportsinnovativeness, new technologies, and sustainability. Entrepreneurship,technology, and innovation management education systems, human capitaldevelopment and knowledge-based development, public-private partner-ships and collaborative business models, socially responsible marketing andcommunication, and development of specific links between the environ-ment and organization are analyzed in more detail in the perspective oftheir influence on competitiveness and sustainable development. Sustain-able development is viewed as the perfect opportunity for businesses tostrengthen and further enhance the corporate social responsibility dimen-sions while achieving long-term growth through the innovatory process andcapitalizing on new technologies. It is argued that companies that recognizethese opportunities develop sustainable strategies, harmonizing the benefitsof economic growth and competitiveness as well as the societal well-beingof businesses.

The five chapters contained in Part II, Innovative Business and Manage-ment Approaches and Practices, focus on innovative business strategies andtheir implications, spillovers, applications, and diffusion. The specific issuesdeal with organizational ambidexterity, diffusion of business organizationalmodels, marketing orientation to the public sector, specific features of busi-ness performance of the public sector, cooperative modes and standards,and supply chain management improvements. The research and extensionof innovative business practices to the overall public and private sectoractivities point to the reduction of gaps and differences in the tradition-ally profit-oriented, private-owned organizations, and the “not-for-profit”public organizations oriented at achieving social goals. The examples andresearch results presented in this part point to the innovative managementapproaches and the convergence of the business and public sectors so thatnew dimensions are added to their striving for common goals, that is, tocreate more value and to better respond to social needs.

Preface xvii

Part III, Managing and Measuring Performance, comprising five chapters,deals in more detail with performance as the overall evidence of success-ful managerial practice. The crucial issues of innovation and organizationalflexibility are viewed in the perspective of performance, while differentmanagement areas and disciplines are discussed in relation to businessperformance and success: working capital and financial management andstrategic project management. The special features of performance man-agement are analyzed in relation to public enterprises and a new model oftechnological efficiencies presented with concrete results in practical use.

In Part IV, IT in Business and Management, the new approaches, break-throughs, and research results of IT in business and management arediscussed in seven chapters. The authors have contributed to an array ofthemes and subjects in this area showing clearly the potentials, integratedroles, and close interrelatedness between IT developments and business per-formance. The special issues raised are related to the new perspectives andpractices of IT concepts and models in e-learning and e-education. Specialchapters deal with the results in identity management, conjoint approachesto location choice on concrete examples, development of a model usingdata mining for the prediction of customers’ satisfaction, new solutions andmodels in solving vehicle routing problem, and aspects of introducing andimplementing an electronic health card.

The main conclusions that emerge from all the contributions are thatresearch and results of innovative management as the overall philosophyand strategy are significant at all the meridians worldwide: in industrialized,emerging and developing economies. They are as relevant as universal prin-ciples in times of crisis as in times of prosperity. The strength of innovativeand creative forces embedded in human capital and knowledge is recognizedas the driving force, resulting in sustainable technologies and innovationthat, combined with entrepreneurship, build the competitive capacities atall levels and influence the activities of the economy and society. The newwaves of prosperity depend on enhancing creative potentials and innova-tiveness that are practically without limits and that have emerged as theuniversal principle of existence and development of both the poor and richnations. Within these principles lie the opportunities for new technologies,employment, and sustainable development.

Acknowledgements

The publication of this monograph represents the joint effort of manycontributors to whom we are very thankful. It is the result of the 13thInternational Symposium of Organizational Sciences (SYMORG-012), titled“Innovative Management and Business Performance,” held at Zlatibor inSerbia.

Firstly, we want to express our gratitude to a number of individuals, col-leagues, and organizations that supported and contributed to the realizationof the Symposium: the Ministry of Education and Science of the Repub-lic of Serbia; the Congress Center Ratko Mitrovic Zlatibor in Serbia; invitedspeakers; authors; and all of the sponsors, volunteers, and participants. ThisSymposium produced papers ranked highly by reviewers and editors who,with great enthusiasm, prepared this monograph for publication.

We wish to acknowledge the efforts of the authors of the selected paperswho made the effort to change and adapt their papers into chapters for thisvolume. Their effort was substantial to fulfill the high standards in preparingthis material.

We also wish to express appreciation to the Ministry of Education, Scienceand Technological Development in the Republic of Serbia for its financialsupport of the research conducted in several chapters of the book.

This monograph could never have been completed without the help of ourcolleagues. We thank professor Gordana Jakic and teaching assistant MarijaNovakovic for proofreading, Nemanja Dragicevic and Andrej Novovic fortheir technical support, Gordana Savic for her valuable recommendationsregarding the knowledge and application of the DEA (Data EnvelopmentAnalysis) model, and Veljko Jeremic for special advice.

Finally, we want to express gratitude to Virginia Thorp, editor of the Busi-ness and Management division at Palgrave Macmillan, for recognizing ouridea and believing that together we could create a valuable and useful text,both for scholars and practitioners.

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Notes on Contributors

Editors

Maja Levi Jaksic is a full professor at UBFOS and head of the Departmentfor Technology, Innovation and Development Management at the Univer-sity. She teaches management of technology, innovation and developmentat undergraduate, master and doctoral studies at UBFOS, operations man-agement at the UB Faculty of Economics, and strategic management at theUB Faculty of Medicine. As visiting professor, she has been lecturing atundergraduate and graduate studies at the Faculty of Management and Infor-mation Systems at Cardiff, UK; the University of Macedonia, Thessaloniki,Greece; Chuo University in Tokyo; Grenoble Graduate School of Business,Grenoble, France; Middlesex University, London. She is also head of theinternational postgraduate MSc dual diploma study program InternationalBusiness and Management at Middlesex University. She was vice-rectorfor scientific research and international cooperation at the University ofBelgrade, vice-dean of Faculty of Organizational Sciences for strategic devel-opment and quality, head of Production and Operations ManagementDepartment at UBFOS, head of the Production Management Center, headof Technology Management Center, Management Center at FOS, head ofStudies in English, FOS. She was the project leader and member of about20 domestic and international scientific projects. She has published morethan 20 books and monographs, about 80 articles in journals and more than90 papers in the proceedings of domestic and international scientific confer-ences. She is a member of the editorial board of Technovation, the InternationalJournal of Technological Innovation, Entrepreneurship and Technology Manage-ment, was the international editor and now is a member of editorial boardof the journal Management published by UBFOS, and a member of editorialboard of Journal Direktor.

Sla -dana Barjaktarovic Rakocevic is an associate professor in the Depart-ment of Financial Management at UBFOS. She holds the position ofvice-dean for International Cooperation at the Faculty of Organizational Sci-ences. She teaches financial institutions, bank management, and investmentbanking on the undergraduate and master’s levels at UBFOS. She was a visit-ing lecturer at the University of Maribor and also was on study visits in theUnited States at the University of Illinois and the New York Stock Exchange.She is a lecturer for the Executive MBA, a Finance module in the joint pro-gram of the FOS and the Mokra Gora School of Management at Uzice, Serbia.She is also a Chartered Management Institute-approved trainer (level 5/7).

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xx Notes on Contributors

She is a licensed stockbroker in Serbia. She is Editor of the InternationalDepartment in the editorial board of the journal Management (UBFOS).She is also a member of the Financial Management Association (FMA),CEEMAN (International Management Development Association) Alumni,and the Serbian Association of Managers – SAM. She works as a finan-cial consultant on numerous scientific and commercial projects, she hasorganized several scientific conferences, and is a member of the commit-tee for publishing at the FOS. She has authored several books as well asnumerous scientific and research papers in the field of financial institu-tions, bank management, investment banking, financial markets, financialanalyses etc.

Milan Martic is a full professor in the Department of Operations Researchand Statistics at UBFOS, where he holds the position of dean. He teachesoperations research, optimization methods, game theory, and measuring theefficiency of business systems on the undergraduate and master’s levels, andmanagement science, new trends in operations research, multicriteria opti-mization, and decision making. He was a visiting lecturer at the Universityof Maribor and Nitra University. He is a member of the editorial board of theinternational journals YUJOR, Acta Economica, Organizacija – Journal of Man-agement, Informatics and Human Resources, and Management. He has organizedseveral scientific conferences and is a member of the program committeesof several international conferences. He has developed five software appli-cations and managed the implementation of more than 30 scientific andresearch projects and studies. He has written selected chapters on perfor-mance management for the doctoral study program at the UBFOS. He is theauthor of several books as well as numerous scientific and research papersin the field of management science, quantitative models, and methods inmanagement.

Contributors

Silvia Abella-Garces is an associate professor in the Department of BusinessManagement at the University of Zaragoza in Spain. She received her doc-torate in Economics and Business Administration from the University. Herresearch interests include family business, human resources management,and teleworking. She has been a research fellow at several European univer-sities, and has published in different journals as well as numerous conferenceproceedings, books, and research reports.

Bisera Andric Gusavac is a teaching assistant in the Department of Oper-ations Research and Statistics at UBFOS, where she is a PhD student. Shegraduated with a degree in industrial engineering in 2003 and obtained aspecialized master’s degree in industrial engineering (MS Genie des SystemesIndustriels) at the Ecole Centrale Paris in 2005. Her interests include problem

Notes on Contributors xxi

solving with mathematical modeling, location analysis, and the applicationof other quantitative methods for solving various business problems. She haspublished more than 20 papers, 3 of them in journals.

Nikola Atanasov works as a teaching assistant at UBFOS, where he is alsoworking on his PhD thesis. He received his bachelor’s and master’s degreesin operations management from UBFOS in 2005. His subjects cover produc-tion and services management and e-manufacturing in the Department ofOperational Management. His current research interests are in the generalarea of supply chain and production management.

Sla -dana Benkovic has been an associate professor at UBFOS for the past15 years. During 2007–2009 she was a visiting professor at the GeorgeWashington University in Washington, DC. She is Deputy President of theManagement Board of the “Endowment of Milivoje Jovanovic and LukaCelovic,” as well as a member of the Management Board of the “Endowmentof -Doko Vlajkovic.” Her teaching and research fields are financial manage-ment with a focus on project finance, modalities of financing developmentprojects of companies, technical evaluation of investment profitability, andthe determination of corporate capital structure.

Marija Bogicevic works as a teaching assistant at UBFOS, where she lecturesin several information systems courses, the most important being com-puter architecture, operating systems, and computer security; she is workingon her PhD at UBFOS. She received her bachelor’s degree in InformationSystems from UBFOS in 2004. Her research interests are related to fraud man-agement and electronic payment systems. She is the author or co-author ofover 20 papers in the ICT (Information and Communication Technology)area.

Milica Bulajic is a full professor at UBFOS from where she got her doctoratedegree. Her areas of research include statistics, theory of probability, dataanalysis, econometrics, multivariate statistics, and data mining.

Marko Cirovic works as a teaching associate at UBFOS. He is currentlyenrolled in doctoral studies at the Faculty of Organizational Sciences. Hegraduated in Management in 2010 and got his master’s degree in 2012.His areas of interest include environmental management, eco-marketing,environmental education, and debate.

Mladen Cudanov works as an assistant professor in business systems orga-nization at UBFOS. He has been teaching for one semester at Jiangsu Collegeof Information Technology and Zhuhai City Polytechnic (People’s Repub-lic of China) in a dual program with the Internationale Verwaltungs-undWirtschafts-Akademie from Goslar, Germany. He has participated in morethan 20 consulting and research projects. He has published more than 80scientific articles in journals and conference proceedings and is coauthor

xxii Notes on Contributors

of several textbooks that serve as leading literature on organization andmanagement. He has more than 90 citations in scientific publications.

Slavica Cicvaric Kostic is an assistant professor in the Department of Mar-keting and Public Relations at UBFOS. She is a lecturer at both domestic andinternational studies, and she works as a consultant. She worked as a directorfor business development in Hauska & Partner International Communica-tions, an international consulting company for communications. She wasa public relations manager in the investment company MPC Properties,which was a strategic partner of Merrill Lynch. She is a member of severalprofessional associations and a member of the professional jury for annualPR (public relations) awards. She is the author of books on branding andcommunications.

Marijana Despotovic-Zrakic is an associate professor and head of theDepartment for E-business and System Management at UBFOS. She teachesseveral courses in the fields of e-business, internet technologies, e-education,simulation and simulation languages, internet marketing, risk managementin information systems, m-business, and internet of things. Her current pro-fessional and scientific interests include e-business, internet technologies,internet marketing, e-education. She is a member of the Institute of Elec-trical and Electronics Engineers (IEEE) and the Association for ComputingMachinery (ACM).

Marija -Dor -devic is a PhD student in the Department of Management atUBFOS. She graduated from the Department of Management and Organiza-tion and then moved to the Department of Operations Management fromwhich she got her master’s degree in Engineering Management. Her areasof interest include the engineering process, enterprise information systems,continuous process improvement, and performance measurement. She is theauthor and co-author of three scientific papers at national and internationalconferences.

Marina Dobrota is a teaching assistant at UBFOS, where she got her bache-lor’s and master’s degrees and where she is a PhD candidate in computationalstatistics. Her major interests are in applied statistics, ICT developmentstrategy, data mining in medicine, and biostatistics.

Vinka Filipovic is a full professor at UBFOS, where she is the head of theDepartment of Marketing Management and Public Relations. She has workedas a consultant for organizations in the country and abroad. She was a pres-ident of the Council of FOS and Director of the Institute of Management atFOS. She has won many awards, and one of the most recent is the recog-nition for outstanding contribution to the profession of public relations inSerbia, given by the Public Relations Society of Serbia. In her rich career,she has published several books and numerous scientific and professionalpapers.

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Ondrej Jasko is a professor at UBFOS. He instructs several courses in thefield of business system organization. In his university career, he has beenthe chair of the Department for Business System Organization and vice-deanand president of the Master Studies Council. As an executive officer or ateam member, he has been involved in more than 20 research projects. Asa business consultant, he has led projects of organizational design in someof the most significant companies in this region. He is coauthor of morethan 15 books and monographs. He has published more than 100 papers invarious scientific conferences and 35 articles in international and nationaljournals. He has been an editor of the international journal Managementsince 2006.

Rajshekhar (Raj) G. Javalgi is an associate dean and a professor of Market-ing and International Business at Cleveland State University. He serves onvarious editorial boards and is engaged in civic activities. He has assistedsmall and medium enterprises (SMEs) in developing international mar-keting plans, export plans, country analyses, and in cultural issues ofdoing business in the developed and emerging economies. Recently, he hasreceived three Business International Education grants in a row, totaling over$550,000, to build and sustain international business programming at NanceCollege of Business Administration. He has published extensively and hisresearch interests focus on international marketing/business, international-ization of firms, foreign entry decisions, marketing in emerging markets,entrepreneurship, and global e-commerce. His research has been widely citedby scholars and practitioners alike. Some of his articles have received bestpaper awards.

Sandra Jednak is an assistant professor at UBFOS for the undergraduatecourse Introduction to Economics. She received her bachelor’s, master’s, anddoctorate degrees in Economics from the University of Belgrade. She was avisiting lecturer at ISM University of Economics and Management in Lithua-nia. Her research focus is the economic growth and development of south-eastern European countries (transition economies). She also does research onthe economics of ICT, knowledge economy, energy economics (particularlyelectricity), and some basic research of higher education. She has publishedscientific research papers in international and national journals.

Olivera Jeremic is an associate professor of Theoretical Mechanics since2012 in the Faculty of Mechanical Engineering (ME) at the University ofBelgrade, where she has been employed since 1990. She graduated from theUniversity of Belgrade with a master’s in Science Education and a doctoratein Applied Mechanics from the Faculty. Her main research area is analyticalmechanics. She has been an author and coauthor of numerous (more then30) papers and a member of government research projects.

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Veljko Jeremic is an assistant professor at UBFOS. His doctoral thesis wason computational statistics. As a teacher, he is engaged in several coursessuch as theory of probability, statistics, and simulation methods in businessdecision making. He has published over 60 scientific papers with an empha-sis (over 20 papers) on Web of Knowledge-indexed journals. He has actedas a reviewer for many ISI-indexed journals: JASIST, Scientometrics, Interac-tive Learning Environments, European Journal of Sport Science, Journal of AppliedStatistics. He is co-author of one university textbook, Advances in MultivariateData Analysis – Contributions to Multivariate Data Analysis.

Predrag Jovanovic is the director of the Public Procurement Office of theRepublic of Serbia. Prior to being appointed to his current position, he was aresearcher at the Economic Institute in Belgrade. His research interests coverpublic procurements, local administration, financial markets, competitive-ness, and anticorruption. He has published five books and more than 30articles in international and national journals.

Marina Jovanovic Milenkovic is an associate for PhD studies at UBFOS.She acquired her master’s degree in e-marketing and her doctorate degreein electronic health care system at the same Faculty. She has participated asa lecturer on subjects of biostatistics and data analysis. Her main researchinterests include the application of ICT in the health care system, multime-dia communications, computer data analysis, and document managementsystem. She has published more than 30 papers in international and nationaljournals and conferences.

Jovana Kojic works as a teaching assistant at UBFOS. She graduated fromthe FOS of the Department for Information Systems and Technologies and isenrolled in master’s studies in Management of Development. Her researchand teaching areas of interest include technology and innovation man-agement (especially macro-level technological and innovative capabilitymeasurement and technological development performance measurement)as well as development of SMEs. She is an author and co-author of about 20papers in journals and proceedings of domestic and international scientificconferences.

Stefan Komazec works as a teaching associate at UBFOS. He is currently con-ducting workshops and other practical activities of the following courses:Basics of Organization, Quality Engineering, and Quality Planning. He isone of the founders and project leaders of the international student sporttournament, EuroBelgrade, which is organized every year by the FOS. Hewas involved in five consulting projects from the field of organizationaldesign. His major research interests are organizational design, organizationalchange, business system restructuring, organizational performance, andquality management. He has published more than 15 articles in scientificjournals and conferences.

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Milica Kostic-Stankovic works as a full professor at UBFOS. She is also a lec-turer in the Faculties of Civil Engineering and Economics at the University ofBelgrade and at the University of Business Engineering and Management inBanja Luka. She participated in the creation of many national and interna-tional projects and educational programs. She has received several scientificand professional awards. She is reviewer at the Commission of the NationalCouncil for Higher Education. She is an international expert at the Agencyfor Development of Higher Education and Quality Assurance, and a mem-ber of the Serbian Marketing Association (SEMA), the Serbian Association ofPublic Relations (DSOJ), and the European Marketing Academy (EMAC).

Mitar Kovac, Major-General, was born on July 27, 1959, in Ulog of theRepublic of Serbska, Bosnia, and Herzegovina. After training from the Mili-tary Academy from 1981 to 1991, he spent in the Army military service asan officer. He graduated with a master’s degree in 1989 and a doctorate in1998, focusing on military strategy research topics in the continual educa-tion and work at the Military Academy of Serbia. In the meantime, he wasemployed as a research fellow and scientific adviser in the Strategic ResearchInstitute of the former Yugoslav Army and Serbia. He was elected in 2006 asa full professor at the Military Academy. He served and still is employed inthe Ministry of Defense as the highest ranking decision maker – as the chiefof the strategic department from 2004 to 2010 and from 2012 to 2013. Hewas also the chief of the J5 department of the Joint Staff of Serbian MilitaryForces from 2010 to 2012. His research interests are in high strategic manage-ment, operational research modeling, theory and practice of organization ofmilitary systems, etc in the area of security and defense. His special interestis orientated to the topics of optimization regarding military reforms in thenew age. He is an honorary fellow of the Faculty of Security at the Universityof Belgrade as a PhD research topic adviser and supervisor of research.

Dragana Kragulj is a full professor at UBFOS. She was the chair of theDepartment of Economics, Business Planning, and International Manage-ment. She has been involved in several research projects. In addition to herteaching, she is occupied with research on macroeconomic problems, prices,markets, inflation, economic development, investment, international trade,agriculture, energy economics, process of transition, international economicintegrations, and the European Union. She has published several editions ofdifferent textbooks on economics, authored two monographs, and over 100scientific papers published in reputable national and international journalsand conferences.

Jovan Krivokapic is a teaching assistant in the Department for Business Sys-tems Organization at UBFOS. He graduated from this faculty in 2007, and in2009 he became a master engineer of organizational sciences. Currently, heis a PhD student. His areas of interest are business consulting, organization

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restructuring, and special events management. He has participated in morethan ten consulting and research projects and some of them were of widesocial significance. As an author or co-author, he has published more than20 papers in scientific journals and conferences.

Marija Kuzmanovic is an assistant professor of operations research andgame theory at UBFOS. She obtained her doctorate degree from the Depart-ment of Operations Research and Statistics in the Faculty of OrganizationalSciences. Topics in her research include analysis and application of mathe-matical modeling, conjoint analysis, game theory, and other quantitativemethods in marketing and management. She is the author or co-authorof over 70 papers, 20 of them in journals. She is also the author of thebook Quantitative Methods in Marketing Management: Application of ConjointAnalysis.

Aleksandra Labus is a teaching associate at UBFOS. She is involved in teach-ing courses covering the areas of e-business, internet marketing, internet ofthings, and simulation and simulation languages. She received a scholarshipfrom the Ministry of Education, Science and Technological Developmentin the Republic of Serbia. Her professional interests include e-education,edutainment, e-government, and social media.

Milica Latinovic is a teaching assistant in the Department of Financial Man-agement at UBFOS, where she is pursuing a doctoral degree. She graduatedfrom UBFOS, and she obtained her master’s degree from the NottinghamUniversity Business School (MA Finance and Investments) at the Univer-sity of Nottingham, from which she was awarded with a scholarship.Her research interests lie in the areas of real options, security valuation,and green finance. Her research findings were published in domestic andinternational conference proceedings and scholarly journals.

Danica Lecic-Cvetkovic is an associate professor of production and ser-vices management and e-manufacturing in the Department of OperationalManagement at UBFOS. She acquired her master’s and doctorate degrees ine-manufacturing from the same faculty. Her main research interests includethe application of information and internet technologies in production andservices management systems, ERP software, and XML-based interoperabil-ity. She is a member and a leader of the MESA (Manufacturing EnterpriseSolutions Association) for Serbia. She has published more than 50 papers ininternational and national journals and conferences.

Sanja Marinkovic is an assistant professor in the Department for Technol-ogy, Innovation and Development Management at UBFOS. She graduatedin general management, and her doctoral thesis was in the field of inno-vation management in services. Her research and teaching interests are inthe fields of technology and innovation management, sustainable develop-ment, and SMEs development. She is an author and co-author of several

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books and more than 60 scientific papers. She is a lecturer and link tutor inthe dual award master program in International Business and Managementat Middlesex University, London.

Angel Martınez-Sanchez is a professor in the Department of Business Man-agement at the University of Zaragoza in Spain. He received his doctoratedegree in Engineering from the University and has been a research fellow atuniversities in Europe, North America, Australia, and Japan. His researchinterests focus on innovation and technology management, productionand supply chain management, teleworking and information technologies,human resources management, and gender. He has published in journalssuch as Journal of Management, International Journal of Operations and Produc-tion Management, Journal of Product Innovation Management, R&D Management,Technovation, and Supply Chain Management, as well as numerous conferenceproceedings, books, and research reports.

Marko Mihic is an assistant professor in the Department of Management atUBFOS. As an expert consultant, he has worked extensively for the Serbiangovernment as well as for several leading national and multinational com-panies and investors in Serbia. His research interests include management,project management, strategic management, and change management. Hehas published 7 monographs and over 80 peer-reviewed papers.

Ivana Mijatovic is an assistant professor at UBFOS. She earned a bachelor’s,master’s, and doctorate at the University of Belgrade. She is a passionateteacher. In bachelor studies, she teaches quality management technologies,quality engineering, and quality planning; in master studies, she teachestotal quality management, standardization, and quality logistic; and in doc-toral studies, she teaches standardization. She serves on the boards of theEuropean Academy for Standardization (EURAS) and the Balkan Coordina-tion Committee for Standardization, Prototypes, and Quality (BCC). Hercurrent academic work addresses the questions of consortia-based standard-ization and education about standardization (how to teach about standards).For much of her academic career, she has focused on quality managementand standardization, especially quality planning and quality engineering.

Dejan Milenkovic is an officer in the Administration for Telecommunica-tions and Informatics of the General Staff of the Serbian Armed Forces.He finished postgraduate studies in the field of e-business at UBFOS. Heacquired his doctorate degree in statistical management of electronic doc-uments repositories using preference coefficients at the same Faculty. Hismain research interests include the content management system and theelectronic document management system. He has published more than 30papers in international and national journals and conferences.

Ivan Milenkovic is a teaching associate at UBFOS, where he received theBest Student Award. He is a researcher in the Laboratory for Multimedia

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Communications at UBFOS and a lecturer on several topics, computer secu-rity and networks most notable among them. His research interests arecomputer security, identity management, biometrics, computer networks,and mobile computing.

Aleksandar Milic is a teaching assistant and a PhD student at UBFOS.His research interests include internet technologies, cloud computing, andmobile computing.

Momcilo Milinovic is a full professor in the Faculty of Mechanical Engi-neering at the University of Belgrade. He received master’s and doctoratedegrees with focus on the jet and missiles propulsion area from the Uni-versity of Belgrade over 1979 to 1985 in the Aerospace Department of theFaculty. He realized experience in system and component engineering aswell as in project managing of the rockets, missile and jet propulsion, propel-lants, explosives area through employment in the State Military TechnologyInstitute of the former Yugoslavia from 1979 to 1992. From 1992, he wasemployed in the Faculty of Mechanical Engineering as a full professor ofdefense technologies subjects at the graduate as well as the doctoral lev-els. He is an honorary professor at the Military Academy of Serbia. He hasover 30 years of experience in defense technologies and weapon productsresearches and is a corresponding member of the Academy of EngineeringScience of Serbia. His main fields of interest include R&D branches / combus-tion, propulsion, missiles, UAV (unmanned aerial vehicle) weapon efficiencyand fire control, CIS (Command Information Systems) technology, and bat-tlefield applied mechanics. He is an author of numerous (more than 200)papers and studies in classified and unclassified categories, and leader ofnumerous research government projects.

Milos Milosavljevic is a PhD candidate and a teaching assistant at UBFOS.He graduated from the Faculty of Economics at the University of Belgradeand defended his master’s thesis at the Faculty of Organizational Sciences.He works as a researcher and consultant on several international projects inthe field of financial management. His fields of interest are project finance,performance measurement, and financial management in public administra-tion and financing of higher education, on which he published more than40 articles in both international and domestic scholarly journals.

Dragan Milosevic is an assistant professor at the College of BusinessEconomics and Entrepreneurship in Belgrade, where he teaches severalcourses on project management, strategic management, business economy,entrepreneurship, and management of SMEs. He graduated from the Fac-ulty of Business Studies at Megatrend University in Belgrade and receivedmaster’s and doctorate degrees from the Faculty of Management at BracaKaric University in Belgrade. He has been working as a consultant for variouscompanies, as well as a project manager on several international projects.

Notes on Contributors xxix

Jasmina Omerbegovic-Bijelovic is a full professor of production and ser-vicing planning (and preparing), resource management, servicing manage-ment, quality management tools, entrepreneurship and SME management,value analysis and value engineering in the Department of Operational Man-agement at UBFOS. She has won several national prizes for her work. Hermaster’s thesis (1986) is “Job-shop – models and methods,” and her doc-torate thesis (1995) is on metamanagement (and so about metaplanning)and quality of management. She has published many (nearly 100) papers injournals and conference proceedings, internationally and nationally.

Vladimir Obradovic is an assistant professor at UBFOS. For his scientificresults, he has been awarded the highest scientific rank from the SerbianMinistry of Science. He has been engaged at all levels of education in themanagement field. He also works as a consultant in several public, non-governmental, and profit organizations. He is an active member of severalinternational professional and academic associations. In his teaching andresearch work, he has achieved substantial results: over 60 papers publishedin national and international congresses and journals, as well as severalmonographs.

Milos Parezanin is a teaching associate in the scientific area of businesseconomics and macroeconomics at UBFOS since 2011. He graduated fromthe Faculty of Economics at the University of Belgrade in 2009. Currently heis a PhD student at the same faculty. He received his scholarship from theMinistry of Education (academic year 2005–06), city of Belgrade (academicyear 2006–07), “Milivoje Jovanovic and Luka Celovic” foundation (academicyear 2007–08) and Fund for Young Talents (academic year 2010–11). He hasparticipated in several national scientific conferences.

Manuela Perez-Perez is an associate professor in the Department of Busi-ness Management at the University of Zaragoza in Spain. She received herdoctorate in Economics and Business Administration from the University ofZaragoza. Her research interests include teleworking and information tech-nologies, human resources management, gender, and production and supplychain management. She has published in journals such as Journal of Manage-ment, International Journal of Operations and Production Management, Journal ofProduct Innovation Management, Supply Chain Management, and Technovation,as well as numerous conference proceedings, books, and research reports.

Dejan Petrovic is an associate professor, head of the Department of Manage-ment, and specializes in management disciplines at UBFOS. He is also a vis-iting professor at several universities in the country and abroad. His researchinterests include management, project management, strategic management,project appraisal, and change management. He has been a consultant for awide variety of public and private organizations, and he has published booksand articles in refereed journals.

xxx Notes on Contributors

Natasa Petrovic is an associate professor at UBFOS. She graduated in 1991,got her master’s degree in 1999, and doctorate in 2002. The areas of herscientific research include environmental management, sustainable devel-opment, environmental education, eco marketing, design for environment,and public participation in environmental protection.

Vladeta Petrovic is the executive director at Public Enterprise PTT Serbiaand a professor in the ICT College of Vocational Studies of the Depart-ment for Postal and Banking Technologies at the University of Belgrade.He received his master’s degree and his doctorate in the field of strategicmanagement in the postal system from the Faculty of Transport and TrafficEngineering at the University of Belgrade. His areas of interest include tech-nological innovation, planning, change management, operations research,and multicriteria analysis. He is the author and co-author of about 20 papersin journals and national and international scientific conferences.

Sloboda Prokic is working on her doctoral thesis related to inter-organizational design. She received her master’s degree in Managementand Organization from UBFOS. She is engaged at the Information Technol-ogy School in Belgrade. From 2009 to 2012, she worked as acting directorof the Serbian Economic Centre. Her research interest is in the areas ofinter-organizational and organizational design as well as strategic manage-ment. She is co-author of a book entitled Management of Inter-OrganizationalRelationships: Outsourcing, Strategic Alliances, Mergers and Acquisitions.

Zoran Radojicic is an associate professor at UBFOS, where he got his doc-toral degree in Statistics. His areas of his research include statistics, theory ofprobability, data analysis, biostatistics, and multivariate statistics.

Lori P. Radulovich is an associate professor of international business andstrategy at Baldwin Wallace University. She holds dual bachelor’s degreesin Business and Economics from the University of Pittsburgh, a master’s inFinance from Case Western University, and a doctorate in International Mar-keting from Cleveland State University. She also serves as a consultant in theareas of finance, entrepreneurship, international marketing, e-marketing,and professional services. Her research portfolio includes scholarly specialissue publications in Entrepreneurship Theory and Practice and InternationalMarketing Review.

Robert F. Scherer is the dean of the College of Business at the Manage-ment University of Dallas. He holds a bachelor’s degree in Communicationand Theatre from Miami University, a master’s in Management from theUniversity of Redlands, and a doctorate in Business Administration fromthe University of Mississippi. He served as a Fulbright Senior Scholar inChile and received two additional Fulbright awards. His research portfolioincludes over 150 published scholarly and professional works. He serves as

Notes on Contributors xxxi

an executive editor for the Journal of Social Psychology and was the lead edi-tor for both editions of the book A Field Guide to Internationalizing BusinessEducation.

Dejan Simic is a full professor at UBFOS and teaches several courses, themost notable being on computer architecture, operating systems, and com-puter security. He received his doctorate degree from the University ofBelgrade’s Faculty of Electrical Engineering in 2000. He is also head of theInnovation Center in the Faculty of Organizational Sciences. He has partic-ipated or had a leading role in a large number of research and commercialprojects. His research interests are computer security and electronic paymentsystems.

Dragoslav R. Slovic is an assistant professor at UBFOS. He graduated andreceived his doctorate in industrial engineering and management from theUniversity of Belgrade. His key areas of scientific interest are performanceand compensation management and increasing of production efficiency bythe application of continuous processes improvement, Lean and Kaizenapproach, and fundamentals of industrial engineering.

Konstantin Simic is a PhD student at UBFOS. His research interests includeinternet technologies, cloud computing, wireless sensor networks, andinternet of things.

Bogdana Stanojevic is a researcher at the Mathematical Institute of theSerbian Academy of Sciences and Arts. She graduated with a degree in Math-ematics and Computer Science from Transylvania University of Brasov in1995, and she obtained her doctorate from the Romanian Academy in 2003.Her research interests include different aspects of fuzzy optimization, mul-tiple objective optimization, fractional programming, fuzzy programming,and mathematical fundamentals of computers. She has published more than30 papers in national and international journals and conference proceedingsin the field of operational research.

Milan Stanojevic has been working at UBFOS since 1993, first as a teach-ing assistant and then as an associate professor of operations research. Hegraduated from the University of Belgrade in 1990. He obtained his doctor-ate in 2005 from the Faculty of Organizational Sciences at the university.His research interests include multiple objective optimization, combinato-rial optimization, and software for operations research. He has publishedmore than 40 papers in national and international journals and conferenceproceedings in the field of operations research.

Ivan Stefanovic is working as the director of the Organization Design Sectorat NIS a.d. Novi Sad, and as an assistant professor at the University BusinessAcademy in Novi Sad, where he teaches Strategic Process for doctoral stud-ies. He is also a research associate at the Economics Institute in Belgrade.

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He received his doctorate degree from UBFOS. His research interests includeorganization design, organizational changes, and strategic management. Hehas authored various articles and symposium papers, as well as a monographentitled Organizational Strategies within the Terms of Discontinuity (written inthe Serbian language).

Dragana Stojanovic is a teaching assistant in the Department of Industrialand Management Engineering at UBFOS. She graduated with a degree inindustrial engineering in 2003. She is a PhD student in the Faculty of Organi-zational Sciences. She participated in several consulting and Tempus projectsin fields of process improvement, process management, and work evalua-tion. Her research interests include location analysis, process engineering,business process management, production system design, and industrialengineering. She has published 44 papers, 6 in journals and 38 in confer-ence proceedings. She has published books as co-author, one of them titledLocation and Object Design and Process Engineering.

Ivan Todorovic works as a teaching associate at UBFOS. He is also a guestlecturer in Faculty of Organizational Sciences at the University of Mariborin Slovenia. He has also participated in five consulting projects. He was amember of the team that won the HULT Global Case Challenge in Londonin 2012, and he also won the Balkan Case Challenge in Vienna in 2010.He was a jury member at several international and local business case studycompetitions. His major research interests are business system consultingand restructuring, organizational design, organizational change, and orga-nizational performance. He has published more than 15 articles in scientificjournals and conference proceedings.

Marıa Jose Vela-Jimenez is an associate professor in the Department ofBusiness Management at the University of Zaragoza in Spain. She holds adoctorate in Economics and Business Administration. Her research interestsinclude human resources management, teleworking, and gender. She haspublished in journals such as Journal of Management, International Journal ofOperations and Production Management, and Technovation as well as numerousconference proceedings, books, and research reports.

Tamara Vlastelica Bakic is an assistant professor at UBFOS. She was a corpo-rate affairs manager at Coca-Cola Hellenic Serbia and the head of Marketingand Communications at Deloitte Serbia. She was a member of the profes-sional jury for annual PR awards and member of the managing board ofthe Public Relations Society of Serbia. She was the chairman of the Workinggroup for education and development of CSR in the United Nations GlobalCompact Serbia. She is the author of the book Media Campaign – Publicityand Advertising (2007) and co-editor of the book The Best Practice of PublicRelations (2011, 2013).

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Vladimir Vujin is a senior system administrator at UBFOS. His currentresearch interests include internet technologies, cloud computing, andapplications of cloud computing in e-education.

Mirko Vujosevic is a professor in the Department of Operations Research atUBFOS. He graduated from the Electronics and Telecommunication Depart-ment, finished his postgraduate studies in the System Control Department,and got his doctorate in the field of reliability prediction and optimizationof dynamic redundant systems from the Faculty of Electrical Engineering atthe University of Belgrade. His areas of interest include operations research,optimization methods, multicriteria optimization, integer programming,programming constraints, soft computing, and risk management. He is theauthor or co-author of over 200 papers in journals and at national andinternational scientific conferences.

Jovanka Vukmirovic is an assistant professor at UBFOS and a professor atthe Belgrade Business School. She received her bachelor’s, master’s, and doc-torate degrees from UBFOS. She was a department head in the Ministry ofEconomy and was responsible for creating a policy of regional developmentbased on the relevant statistical indicators. She was also the coordinator forstatistics at the Institute for Education Quality and Evaluation (Assessmentand Research in Education area). She has coordinated more than 100 mar-ket and public opinion researches. She is the author of the book MarketingResearch (2011) and numerous scientific papers.

Marko Vulic is involved in teaching courses covering the areas of e-business,mobile business, and internet marketing. He has a doctorate in e-businessfrom UBFOS. He received a scholarship from the Ministry of Education,Science and Technological Development of the Republic of Serbia. Hisprofessional interests include customer relationship management, studentrelationship management, e-business, e-education, and internet marketingand social media.

Nevenka Zarkic Joksimovic has been a full professor at UBFOS since 1996,and is the head of the Department for Financial Management. She has par-ticipated in numerous scientific and commercial projects. She was the vicedean for Finances, president of the Council, as well as the dean of the Fac-ulty between the years 2000 and 2004 and 2006 and 2009. Between 2009 and2012, she was the vice chancellor for finance at the University of Belgrade.She has been a member of the Board of Directors of Banca Intesa since 2008.Her fields of scientific research are management accounting, financial man-agement, accounting, financial statement analysis, and financial analysis ofsales.