Management Development in Central and South East Europe Management Development in Central and South East Europe Collection of Works Belgrade, 2011 Management Development in Central and South East Europe Editor Co-Editor European Academy of Science European University 4A/1 Geweygasse 28 Carigradska, 2 Cetinjska Wien 1190 Belgrade 11000 For Editor Prof. Dr. Milija Zecevic Reviewers Prof. Dr. Milija Zecevic Prof. Dr. Dumitru Mazilu Prof. Dr. Ludvig Toplak Prof. Dr. Zoran Simicevic Prof. Dr. Maja Djurović Petrovic Editorial Board Prof. Dr. Robert Troska Prof. Dr. Dragan Nedeljkovic Prof. Dr. Leposava Zecevic Prof. Dr. Olgica Zecevic Stanojevic Prof. Dr. Bojana Rilke Prof. Dr. Miodrag Nikolic Doc. Dr. Mirjana Kranjac Doc. Dr. Ana Milenkovic Doc. Dr. Katarina Simicevic Doc. Dr. Veselin Dickov Doc. Dr. Tatjana Sibalija Milomir Djurovic, M.Sc. Technical Editor Jelena Tomic ISBN 978-3-9503225-0-7 Management Development in Central and South East Europe PLENARY SESSION Prof. Dr. Milija Zecevic, Prof. Emeritus, Academician of European Academy of Science, Vienna, Rector of European University – Chairman Global and International Business and Management Prof. Dr. Robert Troska, President of Czech Scientific Management Committee Contemporary Theme for Chief of Executive Officers in Europe Prof. Dr. Ing. Jaroslav Jirásek, Drsc. The Scientific Management in Europe Prof. Dr. Dumitru Mazilu, Ambassador, Romania Doctor Honoris Causa of "Albert Schweitzer" International University in Geneva The Main Requirements of Management to Combat the Effects of Global Financial Crisis All Over the World, Including Central and South-East Europe Prof. Dr. Ludvig Toplak, European Center Maribor, Faculty of Law, University of Maribor, Slovenia Management Development In Central And Eastern Europe With Regard To Slovenia 1 Management Development in Central and South East Europe Prof. Dr. Momir Bulatovic Professor at European University Negotiating in the Process of Accession to the European Union Prof. Dr. Miroslav Prokopijevic Professor at European University Institute of European Studies, Belgrade Euro Crisis and Its Consequences Prof. Dr. Pance Jovanovski, Doc. Dr. Biljana Andreska – Bogdanovska, Docent The Process of Integration of the Republic of Macedonia in the European Union – An Economic and Business Approach Svetlana Tolmaceva Procredit Bank’s Influence on Management Development of SME in Central and Eastern Europe (Small and Middle-Sized Enterprises) Dr. Sabine Schneider, Vienna Quo Vadis Cee? Austria as a Part of Cee Management Development 2 Management Development in Central and South East Europe HUMANISTIC SCIENCE EUROPEAN BUSINESS AND MARKETING Prof. Dr. Leposava Zecevic Development of European Business and Marketing in New Europe Prof. Dr. Olgica Zecevic Stanojevic M. Sc. Ivana Baosic International Cultural Communication - Forms and Models Prof. Dr. Zoran Simicevic The Role of Management Accounting in the Development of International Business 3 Management Development in Central and South East Europe Prof. Dr. Bojana Rilke The Importance of Ecological Management for the Tourism of Central and South-East Europe Prof. Dr. Dragan Nedeljkovic Perspectives and Development of European Business Prof. Dr. Miodrag Nikolic Challenges of Modern Management Doc. Dr. Katarina Simicevic, Docent The Development of Business Forecasting and Contemporary Tendencies Doc. Dr. Ana Milenkovic, Docent Marketing Management Andrea Mitovski, MBA Stress Management and Motivation of Employees Doc. Dr. Sasa Zecevic, Docent Influence of IT Development on Banking Operations Development 4 Management Development in Central and South East Europe Engineering management Prof. Dr. Ozren Ocic Oil Industry Technological and Energy Management in Sustainable Development Function Prof. Dr. Nevena Doknic Globalization of Human Resource Management Prof. Dr. Branko Djedovic Development of Engineering Management Strategy in Generating Competitiveness in Industry Prof. Dr. Maja Djurovic-Petrovic Public Management Influence on the State of Innovation Sector in Serbia and South East Europe Prof. Dr. Boris Stanojevic Electronic Business and Modern Management Doc. Dr. Tatjana Sibalija, Docent European Technology Platforms as a Generator of New Technologies and Innovations Doc. Dr. Mirjana Kranjac, Docent Project Management Development in Serbia Doc. Dr. Marija Lukic, Docent Leadership and Process of Lobbing 5 Management Development in Central and South East Europe Doc. Dr. Srdjan Tomic, Docent Quality Management in Food Industry Doc. Dr. Tatjana Brankov, Docent Risk Management and Investments in the Production of Genetically Modified Food Doc. Dr. Veselin Dickov, Docent Improvement of Health Management in Serbia Dr. Ljubisa Djurkovic Addition to Extension Use of Contemporary Strategic Management Dr. Slobodan Adzic Analysis of the Unsuccessful Leadership Approach In Hip Petrohemija Dr. Dragoslava Nikic Bank Credit Risks and Bazel Procedures Dr. Bogdan Popara, Prof. Dr. Milorad Popara, Maksimovic Marija Global Importance and the Role of Operations Management in the Services and Manufacturing Dr. Jelena Popara Effective Manager and Management Process in the Commercial Bank Management Components and the Application of the Specific Management Principles in the Commercial Bank Doc. Dr. Miodrag M. Zecevic, Docent Principles of Logistics Management as Relevant Force in Achieving Highly Valued Performances Ksenija Lubarda, European University PhD student Innovation Management As Relevant Segment Of Hotel Technology Transfer 6 Management Development in Central and South East Europe PLENARY SESSION 1 Management Development in Central and South East Europe Welcome speech of Prof. Dr. Milija Zecevic Presidency 2 Management Development in Central and South East Europe Prof. Dr. Milija Zecevic Rector of European University President of Scientific Society of Management and Managers WELCOME SPEECH Ladies and gentlemen I welcome you in the name of several organizers of this scientific gathering. Above all, I welcome you in the name of the European Management Association, based in London, that gathers numerous members from almost all European countries; the Management Scientific Committee from Prague; the Management Scientific Association from Belgrade; the European Academy of Sciences from Vienna; the Albert Schweitzer University from Geneva, and London Diplomatic Academy, also based in Madrid. The list is much longer than this but I find it necessary also to mention the Academy for Sales Management from Vienna and the European University. Since they are all present here today, I would like in their name as well, to welcome Dr. Branko Kovacevic, the Belgrade University Rector and chairman of all universities in Serbia committee. I also welcome emeritus Professor Dr. Srdjan Stankovic, the professor with Belgrade University and numerous European universities. Professor Dr. Srdjan Stankovic is the chairman of the National Council for University Education, and together with Professor Dr. Kovacevic and all other members, are working on and developing the strategy for higher education and education and science in general, not only in Serbia but wider. Once again, let’s give them all a warm welcome. Now, I would like to welcome my dear friend Professor Dr. Robert Troska from Prague. He is the chairman of the Czech Committee for Scientific Management. 3 Management Development in Central and South East Europe As you can see, I constantly emphasize Scientific Management Committee and the scientific management for professors Stankovic and Kovacevic to hear, and actually, one of first congresses devoted to management was organized in Prague. In my opinion, Prague is one of few capital cities devoted to developing management in Central Europe. I welcome Professor Dr. Dumitru Mazilu, member of the European Academy of Sciences and professor with the Bucharest University, Honorary Doctor of the Albert Schweitzer International University in Geneva and London Diplomatic Academy, and I thank him for being here with us today. Also, I welcome Professor Dr. Ludvig Toplak, long-standing Rector of the Maribor University; Chairman of the Slovenia Assembly, Slovenian ambassador, also with many other titles, among them the member of the European Academy of Sciences in Vienna. There is also a lady I want to welcome as well. I have recently been introduced to her, and since her surname is Russian, it makes her even dearer to me, this is Svetlana Tomacheva. She is a chairperson the ProCredit Bank executive committee. I hope I have said it properly, although we Montenegrians say, ’She is a director.’ I also welcome Professor Dr. Momir Bulatovic, the first president of Montenegro and professor with the European University. All of you know him well and follow his activities. It seems to me that he is currently holding a record in writing books. The next person I want to welcome is Professor Dr. Miroslav Prokopijevic, also a professor with the European University, otherwise the principle fellow of the Institute for European Studies, the state run institute, which is important to emphasize. This very institute is also a member of the European University. I welcome Professor Dr. Miodrag Zecevic, Chairman of the European University Council. There is also Professor Milan Aleksic, Dean of the Faculty of Arts, who I would like to welcome as well. The New Art is currently regarded as a very precious field. I welcome Professor Dr. Leposava Zecevic, Dean of the Faculty for European Business and Marketing. And I also welcome Professor Dr. Olgica Zecevic,