Corporate Restructuring in the Economy of the Tourism Sector: A Case Study of Air Serbia
Jovana Kisin - University Educons, Vojvode Putnika 87, 21208 Sremska Kamenica, Serbia
Jelena Ignjatović - Academy of Vocational Studies, Department of Agricultural Business Studies and Tourism, 15000 Sabac,
Serbia
Jelena Vemić Đurković - University Educons, Vojvode Putnika 87, 21208 Sremska Kamenica, Serbia
DOI: https://doi.org/10.31410/tmt.2021-2022.315
Jovana Kisin - University Educons, Vojvode Putnika 87, 21208 Sremska Kamenica, Serbia
Jelena Ignjatović - Academy of Vocational Studies, Department of Agricultural Business Studies and Tourism, 15000 Sabac,
Serbia
Jelena Vemić Đurković - University Educons, Vojvode Putnika 87, 21208 Sremska Kamenica, Serbia
DOI: https://doi.org/10.31410/tmt.2021-2022.315
6th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2021/2022, Published by: Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia; ISSN 2683-5673, ISBN 978-86-80194-49-3; Editors: Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia; Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia, Printed by: SKRIPTA International, Belgrade
Abstract: The main objective of this research is to analyze the effects of the implemented corporate restructuring process on the example of the Serbian national airline company. In addition, the purpose of this chapter is to discuss the management approaches, forms, specific goals, business performance and results, but also the benefits of the corporate restructuring of Air Serbia on national tourism and the economy. Since competitive national airline contributes to the development of the Serbian tourism sector, this chapter emphasizes the economic dimension and importance of the transformation process, creating new added value and employment, as well as multiple effects on overall local and regional development and complementary activities. Thematically, the content is focused on reviewing various forms of corporate restructuring, change of management model, ownership and organizational structure, application of new strategies, and achieved financial results, as indicators of the success of corporate restructuring, with special reference to the impact of COVID-19 on Air Serbia. The methodological framework includes desk research and a case study method based on data collection and analysis, synthesis of theoretical and empirical facts, and using available sources related to the research topic.
Keywords: Business transformation; Strategic partnership; Airline industry; Tourism; Economy
REFERENCES
Abeyratne, R. (2012). Strategic Issues in Air Transport. Heidelberg, Germany: Springer.
Retrieved on: September 15, 2021.
Air Serbia. (2021a). Naša priča.
Akywen, R. (2011). The impact of restructuring on the airline performance: The case of
Garuda Indonesia. Výskumné štúdie, 112-132. https://www.communicationtoday.sk/download/
1/2011/Akyuwen%20-%20CT%201-2011.pdf Retrieved on: September 06, 2021.
Aviatica. (2020). Air Serbia objavila rekordne rezultate u 2019. godini. October 10.
Bajić, J., Tatalović, M., Kučko, K. (2015). Aviokompanije i sustavno upravljanje poslovnim
rizicima-izazovi Croatia Airlinesa. Časopis za ekonomiju i tržišne komunikacije, 5(2):
297-314. DOI: 10.7251/EMC1502297B
Beránek, J., (2013). Ekonomika cestovního ruchu. 1. vyd. Praha: mag Consulting. ISBN
978-808-6724-461.
Bouwer, J., Hahn, S., Maxwell, D. and Rüden J. (2019). How to transform your airline? McKinsey
& Company, 2019. https://www.mckinsey.com/
Bouwer, J., Saxon, S and Wittkamp, N. (2021) Back to the future? Airline sector poised for
change post-COVID-19, McKinsey & Company, 2021. https://www.mckinsey.com/
Bradowski, J. (1991) Restructuring is a continuous process. Long Range Planning, 24 (1): 10-14.
Craig, V. (1999). Air transport sector restructuring. Malaysia: Halcrow AirPlain. https://www.
icao.int/meetings/amc/ma/1999/aps/13_pp_craig_e.pdf Retrieved on: September 21, 2021.
De Wit, B. and Meyer, R. (2004). Strategy Process, Content, Context – An International Perspective.
London: Thomson.
DePamphilis, D. (2010). Mergers and Acquisitions Basic Negotiation and Deal Structuring,
USA: Academic Press/Elsevier.
Erić, D. & Stošić, I. (2013). Koprporativno restrukturiranje. Beograd, Srbija: Institut ekonomskih
nauka.
Erić, D. (2000). Uvod u menadžment. Beograd, Srbija: Čigoja štampa i Ekonomski fakultet.
Fiscal council - Republic of Serbia (2020). Ocena predloga Zakona o budžetu za 2021. godinu,
Novembar 01. http://www.fiskalnisavet.rs/doc/ocene-i-misljenja/2020/fs_ocena_
Geoffrey, W. & Alister, M. (2006). Tourism: change, impacts and opportunities. Harlow, UK:
Pearson Education Limited.
Government of Republic of Serbia. (2021). Strategija razvoja turizma do 2025. godine https://
www.srbija.gov.rs/dokument/45678/strategije-programi-planovi-.php Retrieved on: September
24, 2021.
https://novaekonomija.rs/vesti-iz-zemlje/subvencije-za-er-srbiju-i-u-bud%C5%BEetu-za-2022-
godinu Retrieved on: October 03, 2021.
https://www.airserbia.com/air-serbia-etihad-guest/program-lojalnosti/o-programu
ht t ps: //www. a i r s e rbi a .com/ foot e r_menu / kompa n i ja /a f f i l i a t e -prog r am/
kako-program-funkcionise
https://www.airserbia.com/footer_menu/kompanija/elevate/
https://www.airserbia.com/footer_menu/kompanija/novosti/novosti?id=618
https://www.airserbia.com/footer_menu/kompanija/odrzivo-poslovanje
https://www.airserbia.com/footer_menu/kompanija/o-nama/etika-i-uskladjenost-poslovanja
https://www.airserbia.com/footer_menu/kompanija/o-nama/nasa-prica
https://www.airserbia.com/footer_menu/servisi
https://www.airserbia.com/informacije/pre-leta/tarife/brendirane-tarife
https://www.airserbia.com/specijalne-ponude
https://www.aviatica.rs/air-serbia-objavila-rekordne-rezultate-u-2019-godinu/ Retrieved on
September 11, 2021.
Ignjatović, J., Kisin, J. & Brajković, M. (2020). Export as a trigger of economic growth of the
Republic of Serbia. Business Economics, 14 (2): 19-38.
Ignjatović, J., Kisin, J. & Mashović, A. (2021). Economic aspects of the Covid-19 Pandemic in
the Western Balkans region. Paper presented at International scientific conference “Sustainable
economic transformation in the post pandemic period”, Educons University, Novi
Sad, Serbia, October 15, 2021 (pp.63-88). Novi Sad: Educons University.
Karampela, С., Kizos, Т. & Spilanis, I. (2016). Evaluating the impact of agritourism on local
development in small islands. Island Studies Journal, 11 (1), 161-176.
Kisin, J., Mihić, S. & Ignjatović, J. (2021). Ekonomski apsekti pandemije COVID-19: Slučaj
Republike Srbije. Ecologica, 28 (103): 369-377.
Listeš, K.C. (2018). Poslovni savezi u putničkom zračnom prometu kao oblik restrukturiranja
preduzeća. Split: Sveučilište u Splitu, Ekonomski fakultet.
Mansury, Y. & Hara, T. (2007). Impacts of Organic Food Agritourism on a Small Rural Economy:
A Social Accounting Matrix Approach, The Journal of Regional Analysis & Policy,
37(3), 213-222.
Marjanović, I., Rađenović, Ž., & Marković, M. (2019). EU members multi-criteria ranking
according to selected travel industry indicators. 4th International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
639-655. DOI: https://doi.org/10.31410/tmt.2019.639 Retrieved on: September 28, 2021.
Milojević, N. (2017). Analiza privrednog društva Air Serbia pre i posle strateškog partnerstva
sa Etihad Airways avio-kompanijom i projekcija za budući period. Beograd, Srbija: Univerzitet
Singidunum,
Mirović, V., Kalaš, B. & Pavlović, N. (2020). An empirical analysis of relationship between
tourism and economic growth: panel evidence from Western Balkan countries. 5th International
Thematic Monograph: Modern Management Tools and Economy of Tourism Sector
in Present Era, Belgrade. 39-53. DOI: https://doi.org/10.31410/tmt.2020.39 Retrieved
on: September 28, 2021.
More, G. (2015). A project report on a study on corporate restructuring of Air India. Mumbai:
University of Mumbai. https://pdfcoffee.com/corporate-restructuring-of-air-india-pdf-pdffree.
html Retrieved on: September 18, 2021.
Njeguš, N. (2014). Specifičnosti procesa restrukturiranja u privredi Republike Srbije. Beograd,
Srbija: Univerzitet Singiunum.
Nova ekonomija. (2021). Subvencije za Er Srbiju i u budžetu za 2022. godinu. September 11.
Pešić, A. (2019). (In Press). Definicija uspešnosti: Šta jednu avio-kompaniju čini najboljom na
svetu? Turistički svet. https://www.turistickisvet.com/vesti/turizam/definicija-uspesnosti-
sta-jednu-avio-kompaniju-cini-najboljom-na-svetu.html
Petrevska, B. (2017). Predicting tourism demand by A.R.I.M.A. models. Economic Research –
Ekonomska istraživanja, 30(1), 939-950. DOI: 10.1080/1331677x.2017.1314822
Pjanić, M. (2019). Economics effects of tourism on world economy. 4th International Thematic
Monograph: Modern Management Tools and Economy of Tourism Sector in Present Era,
Belgrade. 291-307. DOI: https://doi.org/10.31410/tmt.2019.291 Retrieved on: September 21,
2021.
Pjanić, M., Andrašić, J., & Mitrović, V. (2018). Analysis of financial effects of tourism on economy
in Serbia. 3rd International Thematic Monograph: Modern Management Tools
and Economy of Tourism Sector in Present Era, Belgrade. 115-129. DOI: https://doi.
org/10.31410/tmt.2018.115 Retrieved on: September 21, 2021.
Počuča, M., Obradović-Matijašević, J. (2018). A strategic approach to the key modern tourism
trends in the Republic of Serbia, 3rd International Thematic Monograph: Modern Management
Tools and Economy of Tourism Sector in Present Era, Belgrade. 369-383. DOI:
https://doi.org/10.31410/tmt.2018.369 Retrieved on: September 21, 2021.
Počuča, M., Obradović-Matijašević, J. (2019). Analysis of quantitative indicators of modern
tourism development in the Republic of Serbia. 4th International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
493-509. DOI: https://doi.org/10.31410/tmt.2019.493 Retrieved on: September 21, 2021.
predloga_budzeta_za_2021_godinu_final.pdf Retrieved on: August 12, 2021.
Rogerson, C.M., Rogerson, J. M. (2014). Agritourism and local economic development in South
Africa. Bulletin of Geography, Socio–economic Series, 26 (26), pp. 93-106.
Samaras, A. H. (2004). Corporate Restructuring - An Overview. [Online] Pytheas.
Statistical Office of the Republic of Serbia (SORS) (2021). Statistika saobraćaja i veza, Ukupan
prevoz putnika i robe. Prvo polugodište 2021. br. 260. LX X I, September 24. https://www.
stat.gov.rs/sr-Latn/oblasti/saobracaj-i-telekomunikacije/prevoz-putnika-i-robe Retrieved
on: October 03, 2021.
Štefko, R., Gallo, P. & Matušíková, D. (2018). Modern managerial methods and their potential
in context of regional tourism development. 3rd International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
101-115. DOI: https://doi.org/10.31410/tmt.2018.101 Retrieved on: September 21, 2021.
Stošić, I. (2014). Korporativno restrukturiranje preduzeća u svetu i Srbiji. Poslovna ekonomija,
8(1): 157-176. https://scindeks-clanci.ceon.rs/data/pdf/1820-6859/2014/1820-68591401157S.
pdf Retrieved on: August 22, 2021.
Tatalović, M. (1990). Deregulacija I liberalizacija zračnog prometa u Evropi i Jugoslaviji. Tehnologija
i organizacija, 2 (5/6): 421-428.
The International Air Transport Association (IATA). (2021). Publications. www.iata.org
The Serbian Business Registers Agency (SBRA) (2021). Pretraga evidencije obveznika finansijskih
izveštaja. September 01. http://pretraga3.apr.gov.rs/pretragaObveznikaFI/Home/
Index
Vance D. (2009). Corporate restructuring, From cause analysis to execution. London and New
York: Springer.
Vemić Đurković, J., Muhi, B., Marinović Matović, I. (2021): Communication of Company Mission
and Values as an Essential Element of Human Resource Management in the State of
Emergency, The International Thematic Monograph – Thematic Proceedings: Psychology
of Disaster, State of Emergency and their Effects on Health, University of Priština,
Kosovska Mitrovica. 153-177. ISBN 978-86-6349-160-1
Vemić Đurković, J., Muhi, B., Nikolić, I. (2018): Employer Brand as a Key Managerial Tool
for Achieving Success of the Tourist Company, 3rd International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
159-171. DOI: https://doi.org/10.31410/tmt.2018.115 Retrieved on: September 21, 2021.
Wall G., Mathison A. (2006). Tourism: change, impacts and opportunities. Harlow: Pearson
Education Limited.
Wan, W.P. and Yiu D.W. (2009). From crisis to opportunity: Environmental jolt, corporate acquisitions,
and firm performance. Strategic Management Journal, 30: 791–801.
Yawson, A. (2009). Interaction effects of restructuring decisions on operating profit following
performance shocks. Journal of Economics and Business, 61: 216–237.
Keywords: Business transformation; Strategic partnership; Airline industry; Tourism; Economy
REFERENCES
Abeyratne, R. (2012). Strategic Issues in Air Transport. Heidelberg, Germany: Springer.
Retrieved on: September 15, 2021.
Air Serbia. (2021a). Naša priča.
Akywen, R. (2011). The impact of restructuring on the airline performance: The case of
Garuda Indonesia. Výskumné štúdie, 112-132. https://www.communicationtoday.sk/download/
1/2011/Akyuwen%20-%20CT%201-2011.pdf Retrieved on: September 06, 2021.
Aviatica. (2020). Air Serbia objavila rekordne rezultate u 2019. godini. October 10.
Bajić, J., Tatalović, M., Kučko, K. (2015). Aviokompanije i sustavno upravljanje poslovnim
rizicima-izazovi Croatia Airlinesa. Časopis za ekonomiju i tržišne komunikacije, 5(2):
297-314. DOI: 10.7251/EMC1502297B
Beránek, J., (2013). Ekonomika cestovního ruchu. 1. vyd. Praha: mag Consulting. ISBN
978-808-6724-461.
Bouwer, J., Hahn, S., Maxwell, D. and Rüden J. (2019). How to transform your airline? McKinsey
& Company, 2019. https://www.mckinsey.com/
Bouwer, J., Saxon, S and Wittkamp, N. (2021) Back to the future? Airline sector poised for
change post-COVID-19, McKinsey & Company, 2021. https://www.mckinsey.com/
Bradowski, J. (1991) Restructuring is a continuous process. Long Range Planning, 24 (1): 10-14.
Craig, V. (1999). Air transport sector restructuring. Malaysia: Halcrow AirPlain. https://www.
icao.int/meetings/amc/ma/1999/aps/13_pp_craig_e.pdf Retrieved on: September 21, 2021.
De Wit, B. and Meyer, R. (2004). Strategy Process, Content, Context – An International Perspective.
London: Thomson.
DePamphilis, D. (2010). Mergers and Acquisitions Basic Negotiation and Deal Structuring,
USA: Academic Press/Elsevier.
Erić, D. & Stošić, I. (2013). Koprporativno restrukturiranje. Beograd, Srbija: Institut ekonomskih
nauka.
Erić, D. (2000). Uvod u menadžment. Beograd, Srbija: Čigoja štampa i Ekonomski fakultet.
Fiscal council - Republic of Serbia (2020). Ocena predloga Zakona o budžetu za 2021. godinu,
Novembar 01. http://www.fiskalnisavet.rs/doc/ocene-i-misljenja/2020/fs_ocena_
Geoffrey, W. & Alister, M. (2006). Tourism: change, impacts and opportunities. Harlow, UK:
Pearson Education Limited.
Government of Republic of Serbia. (2021). Strategija razvoja turizma do 2025. godine https://
www.srbija.gov.rs/dokument/45678/strategije-programi-planovi-.php Retrieved on: September
24, 2021.
https://novaekonomija.rs/vesti-iz-zemlje/subvencije-za-er-srbiju-i-u-bud%C5%BEetu-za-2022-
godinu Retrieved on: October 03, 2021.
https://www.airserbia.com/air-serbia-etihad-guest/program-lojalnosti/o-programu
ht t ps: //www. a i r s e rbi a .com/ foot e r_menu / kompa n i ja /a f f i l i a t e -prog r am/
kako-program-funkcionise
https://www.airserbia.com/footer_menu/kompanija/elevate/
https://www.airserbia.com/footer_menu/kompanija/novosti/novosti?id=618
https://www.airserbia.com/footer_menu/kompanija/odrzivo-poslovanje
https://www.airserbia.com/footer_menu/kompanija/o-nama/etika-i-uskladjenost-poslovanja
https://www.airserbia.com/footer_menu/kompanija/o-nama/nasa-prica
https://www.airserbia.com/footer_menu/servisi
https://www.airserbia.com/informacije/pre-leta/tarife/brendirane-tarife
https://www.airserbia.com/specijalne-ponude
https://www.aviatica.rs/air-serbia-objavila-rekordne-rezultate-u-2019-godinu/ Retrieved on
September 11, 2021.
Ignjatović, J., Kisin, J. & Brajković, M. (2020). Export as a trigger of economic growth of the
Republic of Serbia. Business Economics, 14 (2): 19-38.
Ignjatović, J., Kisin, J. & Mashović, A. (2021). Economic aspects of the Covid-19 Pandemic in
the Western Balkans region. Paper presented at International scientific conference “Sustainable
economic transformation in the post pandemic period”, Educons University, Novi
Sad, Serbia, October 15, 2021 (pp.63-88). Novi Sad: Educons University.
Karampela, С., Kizos, Т. & Spilanis, I. (2016). Evaluating the impact of agritourism on local
development in small islands. Island Studies Journal, 11 (1), 161-176.
Kisin, J., Mihić, S. & Ignjatović, J. (2021). Ekonomski apsekti pandemije COVID-19: Slučaj
Republike Srbije. Ecologica, 28 (103): 369-377.
Listeš, K.C. (2018). Poslovni savezi u putničkom zračnom prometu kao oblik restrukturiranja
preduzeća. Split: Sveučilište u Splitu, Ekonomski fakultet.
Mansury, Y. & Hara, T. (2007). Impacts of Organic Food Agritourism on a Small Rural Economy:
A Social Accounting Matrix Approach, The Journal of Regional Analysis & Policy,
37(3), 213-222.
Marjanović, I., Rađenović, Ž., & Marković, M. (2019). EU members multi-criteria ranking
according to selected travel industry indicators. 4th International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
639-655. DOI: https://doi.org/10.31410/tmt.2019.639 Retrieved on: September 28, 2021.
Milojević, N. (2017). Analiza privrednog društva Air Serbia pre i posle strateškog partnerstva
sa Etihad Airways avio-kompanijom i projekcija za budući period. Beograd, Srbija: Univerzitet
Singidunum,
Mirović, V., Kalaš, B. & Pavlović, N. (2020). An empirical analysis of relationship between
tourism and economic growth: panel evidence from Western Balkan countries. 5th International
Thematic Monograph: Modern Management Tools and Economy of Tourism Sector
in Present Era, Belgrade. 39-53. DOI: https://doi.org/10.31410/tmt.2020.39 Retrieved
on: September 28, 2021.
More, G. (2015). A project report on a study on corporate restructuring of Air India. Mumbai:
University of Mumbai. https://pdfcoffee.com/corporate-restructuring-of-air-india-pdf-pdffree.
html Retrieved on: September 18, 2021.
Njeguš, N. (2014). Specifičnosti procesa restrukturiranja u privredi Republike Srbije. Beograd,
Srbija: Univerzitet Singiunum.
Nova ekonomija. (2021). Subvencije za Er Srbiju i u budžetu za 2022. godinu. September 11.
Pešić, A. (2019). (In Press). Definicija uspešnosti: Šta jednu avio-kompaniju čini najboljom na
svetu? Turistički svet. https://www.turistickisvet.com/vesti/turizam/definicija-uspesnosti-
sta-jednu-avio-kompaniju-cini-najboljom-na-svetu.html
Petrevska, B. (2017). Predicting tourism demand by A.R.I.M.A. models. Economic Research –
Ekonomska istraživanja, 30(1), 939-950. DOI: 10.1080/1331677x.2017.1314822
Pjanić, M. (2019). Economics effects of tourism on world economy. 4th International Thematic
Monograph: Modern Management Tools and Economy of Tourism Sector in Present Era,
Belgrade. 291-307. DOI: https://doi.org/10.31410/tmt.2019.291 Retrieved on: September 21,
2021.
Pjanić, M., Andrašić, J., & Mitrović, V. (2018). Analysis of financial effects of tourism on economy
in Serbia. 3rd International Thematic Monograph: Modern Management Tools
and Economy of Tourism Sector in Present Era, Belgrade. 115-129. DOI: https://doi.
org/10.31410/tmt.2018.115 Retrieved on: September 21, 2021.
Počuča, M., Obradović-Matijašević, J. (2018). A strategic approach to the key modern tourism
trends in the Republic of Serbia, 3rd International Thematic Monograph: Modern Management
Tools and Economy of Tourism Sector in Present Era, Belgrade. 369-383. DOI:
https://doi.org/10.31410/tmt.2018.369 Retrieved on: September 21, 2021.
Počuča, M., Obradović-Matijašević, J. (2019). Analysis of quantitative indicators of modern
tourism development in the Republic of Serbia. 4th International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
493-509. DOI: https://doi.org/10.31410/tmt.2019.493 Retrieved on: September 21, 2021.
predloga_budzeta_za_2021_godinu_final.pdf Retrieved on: August 12, 2021.
Rogerson, C.M., Rogerson, J. M. (2014). Agritourism and local economic development in South
Africa. Bulletin of Geography, Socio–economic Series, 26 (26), pp. 93-106.
Samaras, A. H. (2004). Corporate Restructuring - An Overview. [Online] Pytheas.
Statistical Office of the Republic of Serbia (SORS) (2021). Statistika saobraćaja i veza, Ukupan
prevoz putnika i robe. Prvo polugodište 2021. br. 260. LX X I, September 24. https://www.
stat.gov.rs/sr-Latn/oblasti/saobracaj-i-telekomunikacije/prevoz-putnika-i-robe Retrieved
on: October 03, 2021.
Štefko, R., Gallo, P. & Matušíková, D. (2018). Modern managerial methods and their potential
in context of regional tourism development. 3rd International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
101-115. DOI: https://doi.org/10.31410/tmt.2018.101 Retrieved on: September 21, 2021.
Stošić, I. (2014). Korporativno restrukturiranje preduzeća u svetu i Srbiji. Poslovna ekonomija,
8(1): 157-176. https://scindeks-clanci.ceon.rs/data/pdf/1820-6859/2014/1820-68591401157S.
pdf Retrieved on: August 22, 2021.
Tatalović, M. (1990). Deregulacija I liberalizacija zračnog prometa u Evropi i Jugoslaviji. Tehnologija
i organizacija, 2 (5/6): 421-428.
The International Air Transport Association (IATA). (2021). Publications. www.iata.org
The Serbian Business Registers Agency (SBRA) (2021). Pretraga evidencije obveznika finansijskih
izveštaja. September 01. http://pretraga3.apr.gov.rs/pretragaObveznikaFI/Home/
Index
Vance D. (2009). Corporate restructuring, From cause analysis to execution. London and New
York: Springer.
Vemić Đurković, J., Muhi, B., Marinović Matović, I. (2021): Communication of Company Mission
and Values as an Essential Element of Human Resource Management in the State of
Emergency, The International Thematic Monograph – Thematic Proceedings: Psychology
of Disaster, State of Emergency and their Effects on Health, University of Priština,
Kosovska Mitrovica. 153-177. ISBN 978-86-6349-160-1
Vemić Đurković, J., Muhi, B., Nikolić, I. (2018): Employer Brand as a Key Managerial Tool
for Achieving Success of the Tourist Company, 3rd International Thematic Monograph:
Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade.
159-171. DOI: https://doi.org/10.31410/tmt.2018.115 Retrieved on: September 21, 2021.
Wall G., Mathison A. (2006). Tourism: change, impacts and opportunities. Harlow: Pearson
Education Limited.
Wan, W.P. and Yiu D.W. (2009). From crisis to opportunity: Environmental jolt, corporate acquisitions,
and firm performance. Strategic Management Journal, 30: 791–801.
Yawson, A. (2009). Interaction effects of restructuring decisions on operating profit following
performance shocks. Journal of Economics and Business, 61: 216–237.
| tmt.2021-2022.315.pdf |
Association of Economists and Managers of the Balkans
- UdEkoM Balkan -
179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: [email protected]
www.udekom.org.rs
- UdEkoM Balkan -
179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: [email protected]
www.udekom.org.rs
Tel. +381 62 812 5779
VAT number: 108747027
Registration number.: 28157347
Registration number.: 28157347