Search results

This paper aims to explore the innovation performance of Serbian family firms, the differences in the innovation performance between family and non-family firms as well as different family firms, and the relationship between business process innovation and customer satisfaction among family firms.

The sample consists of 207 valid responses from young Serbian companies from various industries founded in 2015 that published their financial statements in 2017. The statistical analysis involved descriptive statistics, reliability analysis, independent samples t-test, one-way ANOVA, and correlation analysis.

The study results indicate that family businesses in Serbia are innovation-oriented and that they introduced a number of innovations in business processes related to the production and distribution of goods or services and the development of products and business processes. The results also suggest that family and non-family firms are equally committed to introducing innovations in business processes. In addition, the study did not confirm significant differences in the performance of business process innovations among family firms in the manufacturing, trade, and service sectors. Finally, the results demonstrate that introducing business process innovations is positively associated with customer satisfaction and customer retention rate in Serbian family firms.

This paper presents the first comprehensive analysis of the innovation performance of Serbian family firms and can help policymakers assess the contribution of innovation to economic goals.

In the late 1990s, the tourism in Serbia had been developing spontaneously, supported by the policy of undifferentiated marketing. That kind of approach to tourism development led to unsatisfying results, which is a notion primarily based on Serbia’s obvious natural and social resources. An alternative to this approach to tourism development is the differentiated marketing strategy focusing on relevant market segments called “targets.” That way, it would be possible to commercially valorize a significant number of resources (natural and social) as well as a large number of touristic products.

Due to current trends in the international tourism market – moving away from the concept of mass tourism (holiday at the seaside and “ski resorts”), i.e., the ongoing diversification of tourism products, there is undoubtedly more potential for new tourism development trends. The increasing investment in tourism development of the Danube basin, with a larger number of potential tourist products, is expected to make it more attractive to the tourist market. This should have positive effects on the overall development of tourism in Serbia.

This chapter focuses primarily on the research of the Upper Danube region. It will show the importance of the natural and social (anthropogenic) resources suitable for the development of tourism in this area. Special attention shall be paid to the concept of sustainable tourism development, which develops tourism in accordance with the interests of all stakeholders. The positive interaction between all interest groups creates the conditions that ensure satisfaction of all stakeholders and general welfare.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Family firms can better compete with non-family counterparts through a focus on enhancing their innovation capabilities. Exploiting digital technology to consider both product and business process innovations enables swift launch of new product and service offerings and increased process efficiency that ultimately leads to increased satisfaction among customers.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.