Economic and Social Development

Varazdin Development and Entrepreneurship Agency in cooperation with

John Naisbitt University University North Faculty of Management University of Warsaw

Economic and Social Development 21st International Scientific Conference on Economic and Social Development

Editors: Ana Jurcic, Dijana Oreski, Mihaela Mikic

Book of Proceedings

Belgrade, 18-19 May 2017

Varazdin Development and Entrepreneurship Agency in cooperation with

John Naisbitt University University North Faculty of Management University of Warsaw

Editors: Ana Jurcic, Dijana Oreski, Mihaela Mikic

Economic and Social Development st

21 International Scientific Conference on Economic and Social Development

Book of Proceedings

Belgrade, 18-19 May 2017

Title  Economic and Social Development (Book of Proceedings), 21st International Scientific Conference on Economic and Social Development Editors  Ana Jurcic, Dijana Oreski, Mihaela Mikic Scientific Committee  Marijan Cingula, University of Zagreb, Croatia (President); Nebojsa Bacanin-Dzakula, John Naisbitt University, Serbia; Anona Armstrong, Victoria University, Australia; Alenka Baggia, University of Maribor, Slovenia; Haimanti Banerji, Indian Institute of Technology, Kharagpur, India; Tomas Bezak, Slovak University of Technology in Bratislava, Slovakia; Alla Bobyleva, The Lomonosov Moscow State University, Russia; Rado Bohinc, University of Ljubljana, Slovenia; Michael Bosnjak, University of Mannheim, Germany; Adnan Celik, Selcuk University - Konya, Turkey; Angelo Maia Cister, Federal University of Rio de Janeiro, Brasil; Mirela Cristea, University of Craiova, Romania; Nedjo Danilovic, John Naisbitt University, Serbia; Alba Dumi, Vlora University, Albania; Matjaz Gams, Jozef Stefan Institute, Slovenia; Zeljko Garaca, University of Split, Croatia; Hristijan Gjoreski, Jozef Stefan Institute, Slovenia; Anica Hunjet, University North, Koprivnica, Croatia; Mica Jovanovic, John Naisbitt University, Serbia; Oxana Ivanova, Ulyanovsk State University, Ulyanovsk, Russia; Ana Z. Jurcic, John Naisbitt University, Serbia; Dafna Kariv, The College of Management Academic Studies, Rishon Le Zion, Israel; Salih Katircioglu, Eastern Mediterranean University, Northern Cyprus, Turkey; Marina Klacmer Calopa, University of Zagreb, Croatia; Goran Kozina, University North, Koprivnica, Croatia; Dzenan Kulovic, Univeristy of Zenica, Bosnia and Herzegovina; Robert Lewis, Les Roches Gruyère University of Applied Sciences, Bulle, Switzerland; Ladislav Lukas, University of West Bohemia, Czech Republic; Pascal Marty, University of La Rochelle, France; Vaidotas Matutis, Vilnius University, Lithuania; Daniel Francois Meyer, North West University, South Africa; Marin Milkovic, Rector, University North, Koprivnica, Croatia; Milomir Minic, John Naisbitt University, Serbia; Dragan Nikodijevic, John Naisbitt University, Serbia; Dijana Oreski, University of Zagreb, Croatia; Vera Palea, Universita degli Studi di Torino, Italy; Dusko Pavlovic, Libertas International University, Croatia; Igor Pihir, University of Zagreb, Croatia; Miroslaw Przygoda, University of Warsaw, Poland; Miroslav Rebernik, University of Maribor; Nicholas Recker, Metropolitan State University of Denver, USA; Robert Rybnicek, University of Graz, Austria; Velimir Srica, University of Zagreb, Croatia; Ivan Strugar, University of Zagreb, Croatia; Miroslav Rebernik, University of Maribor, Slovenia; Jan Turyna, University of Warsaw, Poland; Ilaria Tutore, University of Naples Parthenope, Italy; Borut Werber, University of Maribor, Slovenia; Thomas Will, Agnes Scott College, USA; Li Yongqiang, Victoria University, Australia; Peter Zabielskis, University of Macau, China; Tao Zeng, Wilfrid Laurier University, Waterloo, Canada; Review Committee  Marina Klacmer Calopa (President); Ana Aleksic; Ayuba Aminu; Mihovil Andjelinovic; Josip Arneric; Lidija Bagaric; Tomislav Bakovic; Sanja Blazevic; Leonid Bobrov; Ruzica Brecic; Anita Ceh Casni; Mirela Cristea; Oguz Demir; Stjepan Dvorski; Robert Fabac; Ivica Filipovic; Fran Galetic; Tomislav Globan; Anita Goltnik Urnaut; Tomislav Herceg; Dafna Kariv; Oliver Kesar; Hilal Yildirir Keser; Tatjana Kovac; Vladimir Kovsca; Angelo Maia Cister; Vaidotas Matutis; Marjana Merkac Skok; Josip Mikulic; Ljubica Milanovic Glavan; Daniel Francois Meyer; Natanya Meyer; Guenter Mueller; Ivana Nacinovic Braje; Gratiela Georgiana Noja; Zsuzsanna Novak; Alka Obadic; Claudia Ogrean; Igor Pihir; Najla Podrug; Vojko Potocan; Zeljka Primorac; Sanda Renko; Souhaila Said; Armando Javier Sanchez Diaz; Tomislav Sekur; Lorena Skuflic; Mirko Smoljic; Petar Soric; Mario Spremic; Ana Jovancai Stakic; Matjaz Stor; Lejla Tijanic; Daniel Tomic; Boris Tusek; Rebeka Daniela Vlahov; Ilko Vrankic; Thomas Will; Zoran Wittine; Tao Zeng; Snezana Zivkovic; Berislav Zmuk; Ranka Mitrovic; Katarina Zakic; Organizing Committee  Domagoj Cingula (President); Suzana Adzemovic; Miljana Blagojevic; Aleksandar Boskovic; Djordje Colovic; Milan Dimic; Marina Klacmer Calopa; Erlino Koscak; Branka Markovic; Miroslaw Przygoda; Rebeka Danijela Vlahov; Publishing Editor  Domagoj Cingula Publisher  Design  Print  Varazdin Development and Entrepreneurship Agency, Varazdin, Croatia John Naisbitt University, Belgrade Serbia University North, Koprivnica, Croatia Faculty of Management University of Warsaw, Warsaw, Poland Copies  Online Edition ISSN 1849-7535 The Book is open access and double-blind peer reviewed. Our Books are indexed and abstracted by ProQuest, EconBIZ, WoS (CPCI) and AEA (EconLit) databases and available for download in a PDF format from the Economic and Social Development Conference website: http://www.esd-conference.com

© 2017 Varazdin Development and Entrepreneurship Agency, Varazdin, Croatia; John Naisbitt University, Belgrade, Serbia; University North, Koprivnica, Croatia; Faculty of Management University of Warsaw, Warsaw, Poland. All rights reserved. Authors are responsible for the linguistic and technical accuracy of their contributions.

21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017

CONTENTS THE ROLE OF THE ENVIRONMENT IN TOURISM EXPERIENCE CO-CREATION ...................................................... 1 NORA BENAHMED, AFAF ELKADDOURI BUILDING CAPABILITIES TO BECOME RESILIENT ORGANIZATION IN A TURBULENT ENVIRONMENTS ............. 11 MILAN BESLAC, MIROSLAV MISKIC, ALEKSANDAR DAMNJANOVIC PEACEFUL SETTLEMENT OF LABOR DISPUTES IN THE REPUBLIC OF SERBIA AS A CONTRIBUTION TO THE LEGAL ENVIRONMENT OF BUSINESS ........................................................................................................................... 21 IVICA LAZOVIC RESEARCH OF DEVELOPMENT AND GROWTH PERSPECTIVES OF THE LOCAL ICT SECTOR ................................ 29 DARIO SEBALJ, JOSIP MESARIC, JELENA FRANJKOVIC REPORTING ON RISK......................................................................................................................................... 39 MIROSLAV MISKIC, BESLAC MILAN, ALEKSANDAR DAMNJANOVIC FACEBOOK OR THE “BOOK OF FACES” AS A DATABASE FOR CUSTOMER PROFILES, MARKETING COMMUNICATIONS AND APPLICATIONS ......................................................................................................... 48 BEBA RAKIC, MIRA RAKIC WORKING CONDITIONS AS KEY DRIVERS OF ECONOMIC GROWTH: EMPIRICAL EVIDENCE FOR EUROPE ....... 59 GRATIELA GEORGIANA NOJA, MIRELA CRISTEA AGILITY IN CUSTOMER SERVICE USING CLOUD BASED CRM SYSTEMS AND ENTERPRISE COLLABORATION TOOLS ............................................................................................................................................................... 72 KATARZYNA KOLASINSKA-MORAWSKA, LUKASZ SULKOWSKI, PAWEL MORAWSKI ASSESSMENT OF THE EFFECTIVENESS OF THE USE OF THE ASSETS OF THE NATIONAL FUND OF KAZAKHSTAN AND WAYS TO IMPROVE IT .............................................................................................................................. 82 NURLAN NURSEIIT, ASKAR MAULENOV, ALIBEK BISSEMBAYEV, KAKHABER GABELASHVILI (IN)VISIBLE FACTORS IN IMPLEMENTING ECONOMIC REFORMS – SOME THEORETICAL CONSIDERATIONS .... 92 ANA JURCIC, RUZICA SIMIC BANOVIC SUSTAINABLE DEVELOPMENT IN SERBIA IN CORRELATIONS WITH FOREIGN DIRECT INVESTMENT .............. 101 DRAGICA STOJANOVIC, BILJANA ILIC, DRAGAN MIHAJLOVIC COMPARATIVE ANALYSIS OF CREDIT RISK ASSESSMENT IN THE ASSESMENT OF BUSINESS PERFORMANCE OF BORROWER - SERBIA – BOSNIA AND HERZEGOVINA ..................................................................................... 109 RANKA MITROVIC, MILICA NESTOROVIC, GORAN KOCEVIC

I

21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 FOREIGN DIRECT INVESTMENTS AS WELL AS SIGNIFICANT FACTOR IN THE ECONOMIC DEVELOPMENT....... 118 MARIJANA JOKSIMOVIC, RANKA MITROVIC THE INFLUENCE OF INNOVATION ON THE ENTERPRISE COMPETITIVENES ..................................................... 126 NIKOLA V. CURCIC, DJURDJICA DJ. VUKAJLOVIC, RADMILA GROZDANIC TOWARDS EUROPEAN CENTRAL BANK EUROSYSTEM 4.0 .............................................................................. 138 ALEKSANDAR ARSOV ECONOMIC GROWTH AND DEVELOPMENT - 4 WHEEL MODEL WITH SPECIAL EMPHASIS ON INVESTMENT IN HUMAN CAPITAL AND TECHNOLOGICAL INNOVATION.................................................................................. 149 TATJANA DRAGICEVIC RADICEVIC, MILICA NESTOROVIC, LJILJANA STANOJEVIC MARKETING PERSPECTIVE: FACTORS AFFECTING ENVIRONMENTALLY CONSCIOUS CONSUMER BEHAVIOR 159 IGOR TRANDAFILOVIC, ALEKSANDRA BLAGOJEVIC STRATEGIES OF CHINESE COMPANIES WHEN ENTERING GLOBAL MARKETS ................................................. 169 KATARINA ZAKIC, BOJAN RADISIC ASSESMENT OF SOCIAL ADVERTISING EFFICIENCY PRESENTED BY CELEBRITY ENDORSERS USING THE COMMUNICATION MODEL COMMAP ............................................................................................................ 181 EDITA STRBOVA, MAGDALENA KACANIOVA ANALYSIS OF FOREIGN DIRECT INVESTMENT OPPORTUNITIES IN MACEDONIA ............................................ 194 KATARINA RENTKOVA, DARKO PANEVSKI CUSTOMER RELATIONSHIP MANAGEMENT IN LIBRARIES AND DOCUMENT INFORMATION CENTERS: AN EMPIRICAL RESEARCH IN KONYA SELCUK UNIVERSITY LIBRARY .................................................................... 205 ESEN SAHIN, OMER AKKAYA, EMEL CELEP EVALUATION ON TIME MANAGEMENT SKILLS OF UNIVERSITY STUDENTS .................................................. 215 VURAL CAGLIYAN, MUAMMER ZERENLER, ZEYNEP ERGEN ISIKLAR ANALYSIS OF INDUSTRIAL CONCENTRATION IN THE CASE ADRIS GROUP PLC. .............................................. 224 MARTINA SOPTA, DARKO JURINEC CORRUPTION AS A JEOPARDIZING FACTOR OF HEALTH CARE SYSTEM DEVELOPMENT IN REPUBLIC OF SERBIA ....................................................................................................................................................................... 235 DUSAN RAJAKOVIC, ANATOLIJ MILOVANOVIC MANAGING THE INFLUENCE OF SALES PROMOTION IN THE TERMS OF STATE RECESSION ON BUYING BEHAVIOR OF CONSUMERS............................................................................................................................ 243 ALEKSANDAR MILOSEVIC, ANA JURCIC, DINKO PRIMORAC

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21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 SUSPENDED SENTENCE WITH PROTECTIVE CUSTODY .................................................................................... 254 NEDJO DANILOVIC, DRAGANA LAZIC IMPLEMENTATION OF ICT INNOVATION TRENDS IN CROATIAN HOTEL INDUSTRY........................................ 264 DJANI BUNJA, SIME VUCETIC COMPLEXITY, CHAOS AND ECONOMIC MODELING ........................................................................................ 273 PREDRAG KAPOR INCREASING THE PROFITABILITY OF MULTINATIONAL COMPANIES THROUGH TAX HAVENS ....................... 283 MARIJANA JOKSIMOVIC, NEMANJA BUDJEVAC, MARKO SPASOJEVIC GLOBALIZATION AND CHALLENGES OF THE MODERN WORLD THE PROTECTION OF NON-STANDARD WORKERS ....................................................................................................................................................... 292 MIRJANA POPOVIC SOCIAL ENTREPRENEURSHIP IN SERBIA - THE ENTREPRENEURIAL SPIRIT LEADING TO SOCIAL CHANGES ..... 304 ALEKSANDAR M. DAMNJANOVIC, ZORAN RISTIC, NEDJO DANILOVIC EXTENSIVE KNOWLEDGE IN MARKETING MANAGEMENT .............................................................................. 314 ASEM ALI OMAR BUSINESS PERFORMANCE OF THE INSURANCE COMPANIES IN CROATIA ...................................................... 322 ANITA GRUBISIC, MATIJA BLACE ROLE OF AUDITING IN CONTROLL PUBLIC SPENDING PROCESS STUDY OF THE FINANCIAL SECRETARIAT OF LIBYA- GHARYAN ............................................................................................................................................ 331 ALEKSANDRA TOSOVIC-STEVANOVIC, VLADIMIR RISTANOVIC, ISMAIL HAMUUDA INFLUENCE OF THE NATIONAL SECURITY STRATEGIES OF THE USA FROM 2002 AND 2006 ON THE SOCIAL AND ECONOMIC DEVELOPMENT OF AP KOSOVO AND METOHIJA ......................................................................... 341 ZELJKO MUSIKIC, ZORAN MIRKOVIC LEGAL – ECONOMIC ASPECTS OF CLARIFYING THE FATE OF MISSING PERSONS: PROJECT RUDNICA – RASKA ....................................................................................................................................................................... 351 LJILJANA KRSTIC, VESNA BOSKOVIC, SUZANA MATEJIC, VELJKO ODALOVIC, SVETLANA JOKIC ACTUARIAL METHODS AND ASSUMPTIONS IN THE RETIREMENT BENEFITS PLANS ....................................... 360 MARIJA KERKEZ THE DEVELOPMENT OF THE SMES SECTOR IN POLAND .................................................................................. 369 EWA MACKOWIAK

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21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 GEOPOLITICAL CONTEXT OF EURASIAN REGIONALISATION ........................................................................... 382 DRAGAN DJURDJEVIC, MIROSLAV STEVANOVIC (IR)RESPONSIBLE LENDING AND PERSONAL INDEBTEDNESS: CONSUMER CREDIT MARKETING .................... 390 DUNJA SKALAMERA-ALILOVIC, MIRA DIMITRIC IS SEASONALITY OF EMPLOYMENT INFLUENCED BY THE SEASONALITY OF PRODUCTION? CASE STUDY FOR THE EU STATES ............................................................................................................................................... 402 JERZY REMBEZA, GRZEGORZ PRZEKOTA, MARIA KLONOWSKA-MATYNIA, KAMILA RADLINSKA CITIZENS’ PARTICIPATION IN ADMINISTRATIVE ACTION IN GREECE .............................................................. 410 STYLIANOS MAVRIDIS, THOMAS CHATZIGAGIOS FORECASTING CORRECTNESS OF INCURRING CREDIT WITH THE AID OF E.I. ALTMAN’S, J. GAJDKA’S AND D. STOS’S DISCRIMINANT ANALYSIS MODELS ON THE EXAMPLE OF 200 STUDIED COMPANIES FROM OPOLE AND POMORSKIE PROVINCES ................................................................................................................................ 416 RAFAL PARVI THE PROBLEMS OF COLLECTION OF UNPAID SALARIES IN THE REPUBLIC OF SERBIA..................................... 426 NIKSA BULATOVIC ECONOMIC DEVELOPMENT AND E-COMMERCE IN LIBYA ............................................................................. 437 ALSEDDIG ALMADANI ENTERPRICE IN TURBULENT ENVIRONMENT: THE LEGAL ENVIRONMENT OF BUSINESS................................ 444 SNEZANA RADOVANOVIC CULTURAL RESOURCES AND THE COMPETITIVENESS OF THE TRAVEL AND TOURISM: INSIGHTS FROM THE LAST DECADE .................................................................................................................................................. 449 CALIN VEGHES COST AS IMPORTANT FACTOR FOR THE E-BUSINESS IN DEVELOPING COUNTRIES AND LIBYA ..................... 459 ABDULMUNM SAADI CONSUMER BEHAVIOR-MOBILE MARKETING RELATIONSHIP: A RESEARCH ON SUPERMARKETS ................. 469 ZEYNEP ERGEN ISIKLAR, MUAMMER ZERENLER, VURAL CAGLIYAN, SABEEHA AZEZ HASSAN HASSAN IMPACT OF GOVERNMENT POLICY ON INTERNATIONAL BUSINESS ............................................................... 480 MUSTAFA ALBUGAR CORPORATE CULTURE AS A PREREQUISITE IN BUILDING A RESILIENT ORGANIZATION ................................. 485 VLADISLAV STANISIC, ALEKSANDAR BOSKOVIC, DINKO PRIMORAC

IV

21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 GLOBALIZATION SECURITY CHALLENGES ........................................................................................................ 496 MARIJA MITIC MARKETING ORIENTATION AS THE KEY TO DIFFERENTIATION AND POSITIONING OF EDUCATIONAL INSTITUTIONS IN THE SERVICE MARKET ......................................................................................................... 507 MARINA GUZOVSKI, MIRKO SMOLJIC THE MARKETING KNOWLEDGE OF GENIUS MARKETERS AS A COMBINATION OF EINSTEIN AND PICASSO: THE STUDENTS’ PERSPECTIVE ................................................................................................................................ 514 MIRA RAKIC, BEBA RAKIC ANALYSIS AND COMPARISON OF EMPLOYEE ATTITUDES TOWARDS CORPORATE EDUCATION .................... 525 EVA ZIVCICOVA, MONIKA GULLEROVA ICT TECHNOLOGIES IN SOCIAL ISSUES SUPPORT - AN EVIDENCE FROM SERBIA ............................................. 533 BORIS JEVTIC, NEBOJSA ZAKIC, RISTA RACO ROLE OF FREE ZONES IN THE PROCESS OF RESTRUCTURING THE ECONOMY OF SERBIA AND ACHIEVED EFFECTS .......................................................................................................................................................... 543 DRAGAN KOSTIC, ALEKSANDAR SIMONOVIC, VLADAN STOJANOVIC NEGOTIATION METAPHORS IN A CROSS-CULTURAL SETTING - RESEARCH FINDINGS FROM CHINA, IRELAND, POLAND AND THE UNITED STATES ................................................................................................................. 553 MICHAL CHMIELECKI, LUKASZ SULKOWSKI THE IMPORTANCE OF THE TYPES OF CUSTOMERS - A COMPARISON BETWEEN DAIRY COOPERATIVES FROM SWIETOKRZYSKIE AND MALOPOLSKIE PROVINCES ........................................................................................ 561 IZABELA KONIECZNA POLITICAL RISKS AS THREAT TO INTERNATIONAL BUSINESS .......................................................................... 571 MARKO SPASOJEVIC, ALEKSANDRA TOSOVIC-STEVANOVIC PROTECTION OF INTELLECTUAL PROPERTY RIGHTS AND PROTECTION OF PRIVACY – TOWARDS A HARMONISED EU STRATEGY IN THE ONLINE ENVIRONMENT ........................................................................ 579 UROS CEMALOVIC COMPARISON OF RECRUITMENT AND SELECTION PROCESSES IN ENTERPRISES OPERATING IN SLOVAKIA AND SPAIN.............................................................................................................................................................. 588 ELENA DELGADOVA, MONIKA GULLEROVA ANALYSIS OF CRITICAL SUCCESS INDICATORS IN ACCELERATION PROGRAMS ............................................... 596 MONIKA ROSTAROVA, JAN JANAC

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21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 APPLICATION OF GLOBAL ECONOMY EFFICIENCY INDICATORS IN ANALYSIS OF REGIONAL INEQUALITY BASED ON THE COUNTY OF SIBENIK-KNIN EXAMPLE................................................................................................. 603 DIJANA MECEV, IVANA KARDUM GOLES, LINDA MARTIC KURAN THE EXAMINATION OF THE RELATIONSHIP BETWEEN EXPERIENTIAL MARKETING AND CUSTOMER SATISFACTION AND LOYALTY AS A POSTMODERN MARKETING APPROACH ................................................. 611 EMEL CELEP, ESEN SAHIN, OMER AKKAYA RAPORT OF RESEARCH OF CULTURES OF HIGHER EDUCATION INSTITUTIONS BASED ON MULTI-PARADIGM ....................................................................................................................................................................... 617 LUKASZ SULKOWSKI THE CONCEPT OF MULTI-PARADIGM UNDERSTANDING OF CULTURES OF HIGHER EDUCATION INSTITUTIONS ....................................................................................................................................................................... 627 LUKASZ SULKOWSKI SOCIAL BUSINESS: A RESPONSE TO MARKET FAILURE ................................................................................... 632 ABDELHAMID NECHAD, HAMID HOUSNI THE IMPORTANCE OF STATE SUBSIDIES FOR ECONOMIC AND SOCIAL DEVELOPMENT ................................. 641 MILICA NESTOROVIC, DRAGANA BORAS THE SOCIAL ISSUE IN THE COMPANY.............................................................................................................. 649 ABDELATIF KERZABI, NAWEL CHEMMA THE EMPIRICAL EVIDENCE OF CUSTOMERS' LOYALTY FOR SMART PHONE APPLICATIONS USE ON TOURISM SECTOR IN TURKEY ......................................................................................................................................... 656 MUAMMER ZERENLER, ZEYNEP ERGEN ISIKLAR, VURAL CAGLIYAN LEGAL PROTECTION OF COMPETITION ON THE LIBYAN MARKET ................................................................... 663 ADNAN ISSA THE ECONOMICAL IMPACTS OF THE GLOBAL FINANCIAL CRISIS IN ARAB COUNTRIES AND ITS THREATENS ON LEGAL PROTECTION ........................................................................................................................................ 667 HATEM RHUMA LEGAL NATURE OF COMMERCIAL CONTRACTS .............................................................................................. 671 SINISA FRANJIC ANALYSES OF RISK SPILLOVERS, FINANCIAL CONTAGION, FLIGHT TO QUALITY AND FLIGHT FROM THE QUALITY AMONG THE STOCK EXCHANGE MARKETS OF TURKEY AND THE DEVELOPED AND THE DEVELOPING COUNTRIES BY THE RECENT DEVELOPMENTS IN THE TAIL DEPENDENCE MEASUREMENT ............................ 677 PINAR KAYA, BULENT GULOGLU

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21st International Scientific Conference on Economic and Social Development Belgrade, Serbia, 18-19 May 2017 PROCESS BASED APPROACH IN DEVELOPMENT OF AN INNOVATIVE STRATEGIC HUMAN RESOURCE MANAGEMENT ............................................................................................................................................... 678 KATARINA TOMICIC-PUPEK, IGOR PIHIR, JOSIP KOLARIC COST AND BENEFITS OF WEBSHOP IMPLEMENTATION FOR SMES IN FIRST THREE YEARS ............................ 685 IGOR PIHIR, DIJANA ORESKI, MELITA ZESTIC RISK MANAGEMENT IN GLOBAL SOURCING ................................................................................................... 695 IRINA VIRGINIA DRAGULANESCU, ARMENIA ANDRONICEANU

VII


MARKETING PERSPECTIVE: FACTORS AFFECTING ENVIRONMENTALLY CONSCIOUS CONSUMER BEHAVIOR Igor Trandafilovic Associate Professor at Faculty of Management Zaječar John Naisbitt University, Serbia [email protected] Aleksandra Blagojevic Student of Master studies at Faculty of Management Zaječar John Naisbitt University, Serbia [email protected] ABSTRACT In this paper, 41 empirical articles, from 2000 to 2017, on environmentally conscious purchase behavior are reviewed. With the increase in environmental problems, consumers become more ecologically conscious and through their individual behavior they contribute to their solving. Green purchasing power grows steadily and it is accompanied by theory and business with the aim to identify moderators of green purchase behavior. Since there is no unified stance on this topic, it is an interesting field for a new research, which can give a new insight or a guideline to policy makers, marketers and managers and help them to encourage green purchasing. Besides being a review of factors that were of interest to the researchers in the observed period, this paper can be basis and a guideline for future studies, new marketing strategies as well as for legislators. Keywords: Environmentally conscious consumer, Green purchase behavior 1. INTRODUCTION The environmental movement that began in the 60s of the last century tried to focus public attention on problems related to pollution and environment (Carson, 1962). Nowadays these problems are no longer only environmental activists concern because they have become our reality: global warming, problems with drinking water, disposal of waste and hazardous materials, exhaustion of non-renewable resources. Increased social and political pressure resulted in environmental policies and acts, such as NEPA (The National Environmental Policy Act) in the USA which forced companies to take care of products of their manufacturing process, such as waste and carbon emissions. Also, business started to change their product formulas and manufacturing methods, materials, packing, distribution and promotion (Roberts, Straughan, 1999). However, there are opinions that it is a profit that actually drives business orientation towards environmental responsibility, through competitive pressure as well as the rise of environmentally conscious consumers (e.g. Straughan, Roberts, 1999; Kim, Choi, 2005; Green, Peloza, 2014). The significance of this market is best illustrated by examples (European Commission, 2016): • The global market for low carbon environmental goods and services in 2012 was estimated at €4.2 trillion, • More than 400 environmental labels were registered worldwide in 2016, • Research conducted in the European Union in 2013 found that 26% of respondents said they often buy green products and 54% stated that they sometimes buy green products. Business has not remained silent on this. Besides green goods and services, there are CSR (Corporate Social Responsibility) policies, business strategies that are environmentally oriented, different types of monitoring and reporting on environmental indicators (European Commission, 159


2016). Environmentally conscious consumers are an object of interest to scholars as well (Webster, 1975; Straughan, Roberts, 1999; Chan, 2001; Tilikidou et al., 2002; Magnusson et al., 2003, Diamantopoulos et al. 2003; Kim, Choi, 2005). Almost five decades of research have not brought unified segmentation of green consumers nor a wide accepted method that will be used (Haws et al. 2014). Tilikidou and Zotos (1999) dealt with this topic by making a 1971-1998 literature review addressed to conscious consumer behavior, in which they have identified all tested independent variables. Joshi and Rahman (2015) did a literature review upon attitude behavior inconsistencies in the context of green purchasing from 2000-2014. The aim of this paper is to provide a literature review of scientific papers published in the period from 2000 to 2017 which have examined the environmentally conscious consumer behavior. Besides integrating and providing an overview of papers related to this subject, we will try to find out what was interesting to scholars and to identify factors that affect green consumers’ behavior. 2. ENVIRONMENTALLY CONSCIOUS CONSUMERS AND FACTORS AFFECTING THEM Environmentally conscious consumer behaviors are "those consumption activities that have a less negative or more positive effect on the natural environment than substitutable activities" (Pieters, 1991, referenced by Green, Peloza, 2014, p. 128). As a response to increasing environmental problems, consumers are modifying their purchase behavior. They are “trying to help solve such problems through their individual behaviors” (Makeower, 2009, p. 85). Other definitions and explanations in the literature go along the similar lines (Straughan, Roberts, 1999; Kim, Choi, 2005). However, the discrepancy arises in the description of this customer segments and influencing factors. Weigel (1977) has described environmentally conscious consumers as white people, young, generally well educated and members of higher social classes, who have liberal socio-political views (p. 39). If we neglect the time distance of this research, this description is likely to be applicable only to the population that has been subject of the research, in this particular case a medium-sized New England town, and cannot be generalized. A similar situation is with other studies (Chan, 2001; Kim, Choi, 2005 ). Furthermore, scholars reported different results for the same influencing factors, which makes it difficult to reach general conclusions. Generally, all factors can be divided into the following groups (Trandafilović, 2013, pp. 93-104): geographical, (e.g. terrain, climate, population density), demographical (e.g. gender, age, education, employment status), economic (e.g. macroeconomic conditions, purchasing power), psychological (e.g. motivation, perception, learning), sociological (e.g. culture, reference groups, family, lifestyle) and situational (e.g. purchases circumstances, natural environment). 3. METHOD Considering that the aim of this paper is a literature review, our first step was a search of published articles addressed to environmentally conscious consumer behavior in scientific journals. Papers were identified through a systematic search procedure that implied database (EBSCO) search using the given keywords. The following keywords were used: "environmentally conscious consumer behavior", "environmentally conscious consumers", "green consumption", "green consumers". The first selection of papers was related to year of publishing, to comply with the given time interval from 2000-2017. Further selection was conducted by reading. In this way, we came to 41 empirical articles from 2000 to 2017 on environmentally conscious purchase behavior. Following steps were aimed at identifying independent variables and their reported impact.

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4. FINDINGS 4.1. Literature review in period 2000-2017 As previously mentioned, there are 41 empirical articles on environmentally conscious purchase behavior between 2000 and 2017. All of these papers are presented in Table 1 with their basic characteristics. Table1: Published studies from 2000 to 2017 on environmentally conscious purchase behavior (compiled by authors) Study no. No. of respondents Year Author 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41

549 99 1.154 1.627 250 304 573 1.043 223 660 887 600 109 157 529 6.010 250 261 191 771 800 150 1.502 227 325 1.175 1.002 2.226 457 419 319 200 85 100 200 326 402 715 100 19.000 305

2001 2002 2003 2003 2004 2005 2006 2008 2008 2008 2008 2010 2010 2010 2011 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2015 2015 2015 2015 2016 2017 2017

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Chan Tilikidou et al. Magnusson et al. Diamantopoulos et al. Sanjay, Gurmeet, Kim, Choi Fraj, Martinez Krystallis Lea, Worsley Tsakiridou et al. do Paço et al. Cerjak et al. Connell Paladino, Smith Aertsens et al. Lee Rahbar, Wahid Kim Albayrak et al. Thøgersen et al. Vega-Zamora et al. Saleki et al. Akehurst et al. Eze, Ndubisi Kozar, Connell do Paço et al. Tsarenko et al. Vicente-Molina et al. Zhua et al. Marques, Almeida Wan et al. Anvar, Venter Handique Sen Irianto Dagher et al. McCarthy et al. González et al Nehanahajan Lee et al. Hidalgo-Baz et al.


4.2. Demographical, psychological and economic factors Demographical. There are only 6 studies which examine the link between green purchase behavior and demographic. In the majority of them, gender (5 studies), age (5 studies) and educational level (4 studies) appears as the independent variable. Diamantopoulos et al. (2003), Dagher et al. (2015), and McCarthy et al. (2015) have come to the conclusion that women are more environmentally conscious consumers. However, Magnusson et al. (2003) and Cerjak et al. (2010) concluded that there is no significant correlation between gender and green purchase behavior. McCarthy et al. (2015) found that presence of children in the family certainly influences the purchase behavior and that it is positively correlated, while Diamantopoulos et al. (2003) found the opposite. On the other hand, Cerjak et al.(2010) haven’t found a significant correlation on this matter. Overview of the results is presented in Table 2. Psychological. Psychological factors were very interesting to researchers. While researchers limited their studies to a few demographic factors, in the case of psychological factors there was an opposite situation. The most common examined independent variables were: attitudes toward green purchase (11 studies), environmental concern/values (17 studies), consumer perceived efficiency (12 studies), and ecological knowledge (12 studies). Positive correlation between attitudes toward green purchases and green purchase behavior was reported in the majority of studies (Chan, 2000; Tilikidou et al., 2002; Fraj, Martinez, 2006; Saleki et al., 2012; Thøgersen et al. 2012; Anvar, Venter, 2014). Only Paladino and Smith (2010) reported non-significant correlation. While Paladino and Smith (2010) and Saleki et al.(2012) indicated that there is no significant correlation between environmental concern/values and environmentally conscious purchase behavior, other studies reported positive correlation (Sanjay, Gurmeet, 2004; Kim, Choi, 2005; Eze, Ndubisi, 2013; Kozar, Connell, 2013; do Paço et al. 2013 Handique, 2014; Dagher et al., 2015; Irianto, 2015; ). Only one study reported not a significant correlation between perceived consumer effectiveness and green purchase behavior (Paladino, Smith, 2010). The other reported positive correlation for the same issue (Sanjay, Gurmeet, 2004; Kim, Choi, 2005; do Paço et al., 2008; Albayrak et al., 2011; Akehurst et al., 2012; Wan et al., 2013;Vicente-Molina et al., 2013; Marques, Almeida, 2013; Handique, 2014; Kim, 2014; González et al., 2015). A similar situation was found in the case of ecological knowledge. Positive correlation with environmentally conscious purchase behavior is confirmed by majority of studies (Chan, 2001, do Paço et al., 2008; Aertsens et al., 2011; Lee, 2011; Saleki et al., 2012; Eze, Ndubisi, 2013; Vicente-Molina et al.; 2013; Zhua et al., 2013; Marques, Almeida, 2013; Kozar, Connell, 2014; Hidalgo-Baz et al., 2017;). Review of studies that have examined the physiological factors and their results is shown in Table 2. Economic. Economic factors have not been present in many papers. However, based on reported results, some important information have arisen. Lee et al. (2017) confirmed that GDP is positively correlated with environmentally conscious consumer behavior. According to several studies, the high price of green products is negatively correlated with green purchase behavior (Lea, Worsley, 2008; Cerjak et al., 2010; Aertsens et al., 2011; Saleki et al., 2012; Eze, Ndubisi, 2013). Also, there is evidence that income is positively correlated with environmentally conscious consumer behavior (do Paço et al., 2008; Zhua et al., 2013; McCarthy et al., 2015). Furthermore, the unfavorable retail environment has been negatively correlated with green purchase behavior (Connell, 2010; Lee, 2011). Review of the reported results on the impact of economics factors on environmentally conscious purchase behavior from analyzed papers is presented in Table 2.

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Table2: Reported results on impact of demographical, psychological and economic factors on environmentally conscious purchase behavior (compiled by authors) Independent variable Study no. (correlation) No of studies Demographic factors Gender* 3(ns); 4(+);12(ns); 36(+);37(+) 5 Marital status** 4(+) 1 Age 3(ns); ;4(-);12(+);40(-);37(+) 5 No. of children 4(-);12(ns); 37(+) 3 Education 4(ns);12(+);37(+);40(+) 4 Psychological factors Product-related experiences 14 (+) 1 1(+);2(+);7(+);14(ns);20(+);22(+);25(+) Attitudes toward green purchases 11 26(+); 32(+);35(+);36(+) Altruism 23(+);27(+);28(+) 3 Skepticism 11(-);19(-);30(-);33(-) 4 Personal characteristics (eg. hedonism) 8(+);9(+) 2 Subjective norm 7(+);14(ns); 35(+);41(ns) 4 5(+);6(+);11(+);14(ns);18(+);19(+);22(ns); Environmental concern/values 24(+); 25(+); 26(+); 27(+); 17 29(+);33(+);35(+);36(+); 38(+);41(+) 5(+);6(+);11(+);14(ns); 18(+); 19(+);23(+); Perceived consumer effectiveness 12 28(+);30(+);31(+);33(+);38(+); Past orientation 40(-) 1 Health consciousness 14(ns);15(+);37(+);40(-);41(ns); 5 Ecological affect 1(+);32(+) 2 1(+);11(+) 14(ns);15(+);16(+);22(+);24(+); Ecological knowledge 12 25(+); 28(+);29(+); 30(+);41(+) Ecological friendly behavior 3(+);5(+);11(+);24(ns);31(+) 5 Willingness to pay 31(+);32(+);34(-);35(+);37(-) 5 Trust in eco label/brand 17(+) 1 Personal norm/values 24(+) 1 Self-image 27(+) 1 Self-enhancement 18(+) 1 Environmental activities attitude 2(+);5(+) 2 Green purchase intention 3(+);20(+);14(+);23(+) 4 Economic factors GDP 40(+) 1 Price 12(-);22(-);9(-);15(-);24(-) 5 Income 29(+);37(+);11(+) 3 Unfavorable retail environment 13(-);16(-) 2 Remarks:*women;**married; ns-not significant; + positive correlation; - negative correlation 4.3. Sociological, situational and other factors Sociological. Diamantopoulos et al. (2003) concluded that belonging to a particular social class has no influence on the purchase of environmentally friendly products. There is an indication that the environmentally conscious consumer behavior is supported in those societies where adopted social values are consistent with ecological values (Connell, 2010; Aertsens et al., 2011; Lee, 2011; González et al., 2011). Also, this refers to societies in which man-nature orientation (Chan, 2001) and collectivism (Chan, 2001; Kim, Choi, 2005; Krystallis, 2008; Kim, 2011; Handique, 2014) is predominant. 163


Also, the influence of reference groups and influential people should not be neglected because positive correlation with purchase behavior is confirmed (Lee, 2011; Eze, Ndubisi, 2013; Tsarenko et al., 2013; Anvar, Venter, 2014). Papers that examined the influence of sociological factors are presented in Table 3. Table3: Reported results on impact of sociological, situational and other factors on environmentally conscious purchase behavior (compiled by authors) Independent variable Study no. (correlation) No of studies Sociological factors Social class 4(ns) 1 Social values 13(-);15(+);16(-);38(+) 4 Collectivism 1(+);6(+);8(+);33(+);18(+) 5 Man-nature orientation 1(+) 1 Reference groups and influential people 32(+);16(+);24(+);27(+) 4 Situational factors Lack of information 13(-) 1 Retail appearance 13(-) 1 Limited availability 10(-);13(-);15(-) 3 Availability 9(+);12(+);37(+) 3 Other factors Quality 10(+);14(ns);15(+); 3 Green/Eco label 14(ns);17(ns);21(+);37(+);39(+) 5 Green/Eco brand 17(+);39(+) 2 Advertisement/Promotion 17(ns);29(+);34(+);39(+) 4 Remarks: ns-not significant; + positive correlation; - negative correlation Situational. Reported results on situational factors in papers that have been reviewed indicates that they should not be neglected. Connell (2010) found that lack of information as well as retail appearance bothers green consumers (negatively correlated). Availability of green products is positively correlated (Lea, Worsley, 2008; Cerjak et al., 2010; McCarthy et al., 2015) while limited availability is negatively correlated (Tsakiridou et al., 2008; Connell, 2010; Aertsens et al., 2011) with environmentally conscious purchase behavior. Overview of the results is presented in Table 3. Other. In addition to the previously listed independent variables, scholars also examined some others, but we will focus our attention to those which appeared in several papers and could not be clearly classified in previous groups. Hence, they are listed as other factors. The quality of product or service confirmed to be positively correlated with green purchase behavior (Tsakiridou et al., 2010; Aertsens et al., 2011). Paladino and Smith (2010) and Rahbar and Wahid (2011) found that there is no significant correlation between environmentally friendly products labeling and purchase behavior, while others (Vega-Zamora et al., 2012; McCarthy et al., 2015; Nehanahajan, 2016) reported positive correlation. Rahbar and Wahid (2011) and Nehanahajan (2016) found a positive correlation between green brand and environmentally conscious consumer behavior. Advertisement and promotion also affect behavior – positive correlation is confirmed by Zhua et al. (2013), Sen (2014) and Nehanahajan (2016). 5. LIMITATION AND FURTHER STUDIES There are few limitations that must be taken into account when we consider the findings presented here. The first relates to the used method. It must be noted that there is a probability that there are papers on this topic within the selected time frame which have not been taken into 164


account because of the combination of used keywords and database. The next limitation refers to independent variables that are reviewed. In the presented papers, they were examined and reported in different formulations, ways and methods. In this review, they are grouped together and presented to give a clear view on their impact on environmentally conscious consumer behavior. In addition, it was noticed that majority of studies examined only two or three group of factors, with only several factors in each group. In other words, there was no extensive and thorough research among the reviewed papers. This implies the need for extensive research that will take into account all groups of factors. Finally, each study is based on a specific sample, which needs to be considered before any generalization is made. 6. CONCLUSION Findings presented in this paper indicate that, during the observed period, scholars had been mostly interested in psychological factors and their correlation with ecologically conscious consumer behavior. There is confirmation that consumers who are environmentally conscious also have positive environmental attitudes, high perceived level of knowledge about environmental issues and an attitude that they as individuals may affect resolving of environmental problems through consumption. Regarding the demographic factors, except for the level of education, the results are not unique. Similar to conventional products, increase in revenues and GDP has a positive effect on the consumption of green products, while the rise in prices affects it the opposite way. Social context is important, and if it supports the care about the environment and other people, consumers will be more inclined to purchase green products. The influence of reference groups and important persons can be significant when it comes to purchasing environmentally friendly products. In addition to previous, it should not be omitted that environmentally conscious consumers are also affected by the situation: where and how they are buying, availability of products, characteristics of the products, their labeling, promotion, etc. This paper introduced literature review as well as independent variables which are correlated with environmentally conscious purchase behavior. Obtained results can be used to encourage green consumption by scholars, policy makers, marketers, managers. LITERATURE: 1. Aertsens, J., Mondelaers, K., Verbeke, W., Buysse, J., Van Huylenbroeck, G. (2011). The influence of subjective and objective knowledge on attitude, motivations, and consumption of organic food. British Food Journal Vol. 113 No. 11, pp. 1353-1378. 2. Akehurst, G., Afonso, C., Gonçalves, H. M. (2012). Re‐examining green purchase behavior and the green consumer profile:new evidence. Management Decision, Vol. 50 Issue 5, pp. 972 - 988. 3. Albayrak, T., Caber, M., Moutinho, L., Herstein, R. (2011). The Influence of Scepticism on Green Purchase Behavior. International Journal of Business and Social Science, Vol. 2 No. 13. Special Issue – July. pp.189-197. 4. Anvar, M., and Venter, M. (2014). Attitudes and purchase behavior of green products among generation y consumers in South Africa. Mediterranean Journal of Social Sciences, 5(21). pp.183-194. 5. Carson, R. (1962). Silent Spring. Crest Reprint Fawcett Publications, Inc.., Greenwich Conn. 6. Cerjak , M., Mesić, Ž., Kopić, M., Kovačić, D., Markovina, J. (2010). What motivates consumers to buy organic food – comparison of Croatia, Bosnia and Herzegovina and Slovenia.Journal of Food Products Marketing. Jul-Sep, Vol. 16 Issue 3, pp.278-292. 7. Chan, R. (2001). Determinants of Chinese Consumers’ Green Purchase Behavior. Psychology &Marketing, Vol. 18(4), April. pp. 389–413.

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