Managerial learning and competence development are important for service microenterprises seeking to use business information effectively, adopt innovations, and improve their operations. This study examines managerial perceptions of information use, innovation, institutional support, and professional development needs in service microenterprises in Serbia, with particular attention to their implications for learning, competence development, and quality improvement. A descriptive survey was conducted from June to December 2024 using a convenience sample of 224 owners, directors, managers, and other representatives of microenterprises located in three municipalities of Belgrade. Data were collected through a structured closed-ended questionnaire and analysed using descriptive statistics. Results show that innovation management was highly valued as a contributor to competitiveness, while technological processes and customer-oriented changes received particularly favourable assessments. Respondents associated innovation with market expansion, service quality, operational flexibility, and efficiency, but also identified financial, technological, and knowledge-related constraints. Institutional support was considered particularly important through financial incentives, assistance with technology acquisition, and access to financing. Training preferences focused on export activities, public procurement, marketing and sales, quality standards, and financial management, indicating demand for practically applicable managerial competencies. Business information was also recognized as relevant to successful operations. Overall, the findings indicate that quality improvement in service microenterprises can be supported by strengthening managerial competencies, information use, innovation capacity, and continuing professional learning.

This paper presents a brief analysis of the impact of operational risks and their impact on the delivery of value to consumers (loyal and potential) from the aspect of product availability. Operational risks, in this case, take priority over other types of risks such as external risks and risks of change. This hypothesis is also confirmed by some research with the finding that a large number of cases of unavailability of products intended for daily consumption have the same origin in the form of poor organization and orientation of the business process in retail outlets. Some of the consequences of inefficiency arise from: insufficient number of employees, uneven stocks in sales warehouses, inadequate implementation of internal logistics flows. The product availability is an integral part of the company's overall marketing concept with the intention of achieving goals through greater efficiency in business compared to its competition, and for retail it is creation, delivery and relationship with consumers in the delivery of value, in targeted market segments. From the customer's point of view, product availability is still treated by many retailers as a lack of stock. This leads to a situation when the demand (due to an insufficient amount of product) cannot be met and the orders are cancelled. Therefore, subsequent satisfaction of the demand is approached, upon receipt of a new quantity of the product. This understanding, especially in the conditions on the crisis, has been overcome and this paper represents an attempt to shed light on this phenomenon from different aspects.

The tourism sector plays a pivotal role in Montenegro's economic development, with human resources serving as one of its most critical components. This study explores the significance of human resources in shaping the competitiveness and sustainability of Montenegro's tourism industry. By adopting a human resources perspective, the research examines the challenges, opportunities, and strategies that influence the sector's performance. Key issues such as workforce training, employee retention, cultural competence, and leadership are analyzed to identify gaps and propose actionable solutions. The findings reveal that enhancing the quality of human resources through targeted education, professional development, and strategic management practices can significantly improve the positioning of Montenegro's tourist product on both regional and global markets. This study contributes to the existing literature by providing insights into the role of human capital in driving tourism growth and offering practical recommendations for policymakers, industry stakeholders, and educational institutions.

This study introduces the R-index as a novel framework for quantifying the economic impact of risk through realized deviations from expected performance. In contrast to traditional risk measures that rely on probabilistic or volatility-based approaches, the proposed index captures risk as an outcome-based phenomenon directly linked to firm-level performance. The R-index is constructed as a normalized measure of deviation between actual and expected values and is further extended to a multidimensional setting, allowing for aggregation across different performance indicators. The empirical analysis is conducted using longitudinal financial data from three firms operating in distinct sectors of the Montenegrin economytelecommunications, retail, and tourism-over the period 2015-2024. The results reveal substantial heterogeneity in the realization of risk across firms, even under identical macroeconomic conditions. While some firms exhibit stable performance and limited deviations, others demonstrate pronounced volatility and sensitivity to external shocks, particularly during the COVID-19 period. These findings suggest that risk is not uniformly transmitted but is instead shaped by firm-specific characteristics, including operational structure and adaptive capacity. The study contributes to the literature by redefining risk as a realized economic phenomenon and by proposing a scalable and interpretable metric that bridges risk measurement and performance evaluation. The R-index offers practical relevance for managerial decisionmaking and provides a foundation for future research on the relationship between risk and firm value.

This study introduces the R-index as a novel framework for quantifying the economic impact of risk through realized deviations from expected performance. In contrast to traditional risk measures that rely on probabilistic or volatility-based approaches, the proposed index captures risk as an outcome-based phenomenon directly linked to firm-level performance. The R-index is constructed as a normalized measure of deviation between actual and expected values and is further extended to a multidimensional setting, allowing for aggregation across different performance indicators. The empirical analysis is conducted using longitudinal financial data from three firms operating in distinct sectors of the Montenegrin economy—telecommunications, retail, and tourism—over the period 2015–2024. The results reveal substantial heterogeneity in the realization of risk across firms, even under identical macroeconomic conditions. While some firms exhibit stable performance and limited deviations, others demonstrate pronounced volatility and sensitivity to external shocks, particularly during the COVID-19 period. These findings suggest that risk is not uniformly transmitted but is instead shaped by firm-specific characteristics, including operational structure and adaptive capacity. The study contributes to the literature by redefining risk as a realized economic phenomenon and by proposing a scalable and interpretable metric that bridges risk measurement and performance evaluation. The R-index offers practical relevance for managerial decision-making and provides a foundation for future research on the relationship between risk and firm value.