The Special Nature Reserve “Carska Bara” (CB) contains significant water resources and wetlands whose flora and fauna should be preserved. This protected area attracts a wide range of tourists, primarily those who love the world of nature. The aim of this research was to determine whether sustainable tourism affects the satisfaction of residents, which is the main hypothesis (H1). Also, the specific aim of this research is to define the state of tourism that can be influenced by the ecological and institutional dimensions, which is the auxiliary hypothesis (H2). This research used a quantitative methodology. A total of 910 residents living in the surrounding communities were surveyed for the study. The analysis of the research results concludes that sustainable tourism has a significant impact on the satisfaction of residents, which fully confirms hypothesis H1. The research results also indicate the importance of the ecological and institutional dimensions of sustainability on the state of tourism, which fully confirms hypothesis H2. The research results obtained may be significant for the management process of this protected area and for improving the conditions for sustainable forms of tourism.

There are several factors that have been identified in both theory and practice of management that influence the development of modern entrepreneurial organizations. In recent years, innovative management has been particularly prominent in this field, which is given the role of a basic economic and social factor. In this paper, we want to analytically and objectively present the innovative management. Based on that, we came to the conclusion that innovation is the key to the development of any business, but that it differs significantly based on the type of business. For the effective and efficient innovation implementation, it is necessary that every entrepreneur and manager first gets acquainted in detail with the potentials of their organization, and only then develop a strategy that will ensure the growth and development of their business.

Modern organisation of the state has to be such that every citizen should be able to influence everyday's political decisions. However, this idealistic goal is difficult to achieve in practice. Therefore, we have to find an adequate system of distributing tasks among different levels of government. This distribution is further complicated by the fact that every task has to be financed by public revenues. This working paper has the goal to show the current system of local communities in Serbia and to show a way how to improve the work of local governments by receiving revenues for their obligations. According to the opinion of the authors, reorganisation of the current system of local governance in Serbia will lead to a more efficient bureaucratic apparatus.

The digital transformation of the financial system in recent years has prompted central banks worldwide to intensify their research and development of Central Bank Digital Currencies (CBDCs). Among the most prominent initiatives is the digital Euro project, which represents a response to the rapid proliferation of digital payment methods, the rise of private digital currencies, and the imperative to preserve monetary sovereignty and financial stability. The subject of this research is the analysis of the digital Euro concept and its potential economic and institutional implications. The study aims to examine the prospective effects of introducing the digital Euro on the implementation of monetary policy, the operations of the banking sector, the efficiency of payment systems, and the stability of the financial system. Furthermore, it addresses the challenges this form of currency may pose to non-eurozone countries, with a particular focus on Serbia. The methodology applied in this research encompasses a content analysis of relevant domestic and international scientific literature, the comparative method, institutional analysis, and descriptive statistics based on available data from international financial institutions. The research findings indicate that the digital Euro can enhance the security, accessibility, and efficiency of payment systems, increase the resilience of the monetary system, and stimulate innovation within the financial sector. Concurrently, its implementation raises critical concerns regarding user privacy protection, the potential disintermediation and reduction of the commercial bank deposit base, cybersecurity risks, and the adaptation of the regulatory framework. The scientific contribution of this paper lies in its critical analysis of contemporary approaches to CBDC development and its comparative assessment of the digital euro's potential implications on the financial systems of countries undergoing the European integration process, with a specific emphasis on Serbia and the Western Balkans.

In this paper, the authors are attempting to determine the possible directions of changing pensions in order to harmonize the work of the Pension Fund with the current inflow of funds. As the basis of analysis, the authors have used statistical records of the national pension fund which is available on the internet and shows data for the day 12/12/2013. In this research, authors want to show that it is possible to optimize the work of the Fund through corrections within the already established statistical salary grades in such a manner that those pensioners with low pensions will not have any disadvantages.

One of the most important moments in the project management's decision on the assessment of costs. Effective costing starts much before the final proposal. It starts with a preliminary estimate of the basic requirements and costs. This allows the functional organization to meet customer requirements and cost targets, and gives management the time to review and redirection of design before submitting a proposal.