In this research paper, various impacts on economic sustainability of small and medium-sized companies are analyzed. This research determined a research gap, by defining a statistically significant difference in business performance between SMEs (small and medium sized businesses) with their own logistics capacities and those which decided to outsource capacities. Impacts of key business factors were measured by quantitative research by using linear regression, on a sample of 340 SMEs from Serbia. These factors are related to market aspects, SME position within a supply chain, but also to internal aspects of the company itself. Empirical research findings suggested that ownership of logistics capacity can have an impact on economic sustainability of SMEs, measured through solvency and profitability. Future research regarding this topic can be diversified through efforts of internationalization of SMEs, or through comparison with large companies in terms of impacts on economic sustainability.

This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment.

This study investigates the pivotal role of knowledge management (KM) in Serbian small- and medium-sized enterprises (SMEs), highlighting its impact on both the internal dynamics and external business performance of a company. Addressing the unique socio-economic and cultural context of the Serbian business environment, this research study explores how effectively KM practices can streamline business processes, enhance decision making, and foster more significant outputs. This study includes a sample of 370 companies, conducted during the period of the initial 6 months of 2023, by measuring the influence of knowledge management factors within the process of generating revenue and on decreasing operating costs. Drawing on previous theoretical research provided by different experts, followed by a quantitative analysis performed through principal component analysis (PCA), this study identifies critical factors of influence for KM adoption and exploitation in Serbian SMEs. This study offers insights into the interplay between knowledge acquisition, formation, application, warehousing, and knowledge transfer. Findings suggest that from an external perspective, the process capabilities of a company for acquiring and formatting knowledge have a positive influence on business performance, while the technological capabilities of a company for knowledge warehousing, sharing, and formatting produce the same effect but from an internal business perspective.

This research paper analyzes low productivity of company workforce as the key risk factor to business sustainability of a company, with special attention to small and medium-sized companies. The scope of research involves for-profit, and small and medium-sized companies doing business in Serbia. This paper explores whether poor human resource management, and, more particularly, low productivity of employees represent one of the key reasons for poor business performance and eventually failure of the company. The quantitative part of this research was conducted during 2022, by analyzing 468 small and medium-sized companies with less than 250 employees, who ended their business during 2021. Current theory determines human resource management in companies, the influence of different sorts on overall business performance, and employee productivity and its causal effects on business survival. This study attempts to cover identified literature gaps by analyzing the risk influences of low productivity on the failure of small and medium-sized companies, with special diversification between manufacturing and service-oriented companies. Key findings from this research were defined with the help of statistical learning methods, suggesting direct correlation of low productivity in the case of small services-oriented businesses and medium-sized manufacturing companies. Future work on this research includes extension of the analysis to other countries in the West Balkans region and the comparation of all determined causalities.

The digitalization of Human Resources (HR) is rapidly transforming traditional workforce management practices, with artificial intelligence (AI) at the forefront of this evolution. This paper examines how AI-driven technologies are reshaping key HR functions, including talent acquisition, employee engagement, workforce planning, and performance management. AI-powered tools, such as predictive analytics, natural language processing, and machine learning algorithms, enable organizations to streamline processes, enhance decision-making, and improve employee experiences. For instance, AI simplifies candidate screening by analyzing resumes more efficiently, while chatbots provide real-time support to employees and candidates, fostering timely and personalized communication. Moreover, the integration of AI in workforce planning allows organizations to predict trends, optimize resource allocation, and align talent strategies with business objectives. The case study presented in this paper highlights the potential of AI to foster diversity and inclusion by mitigating biases in recruitment and evaluation processes. However, this paper addresses the ethical and practical challenges associated with AI implementation, such as data privacy, algorithmic transparency, and workforce upskilling. By bridging the gap between technological advancement and human-centric HR practices, this research underscores the transformative potential of AI in creating more agile, efficient, and inclusive workplaces. The findings aim to provide actionable insights for HR professionals navigating the digital transformation journey.

This research includes the analysis and comparison of long-term values of key business parameters of profit-oriented companies in Serbia, which are engaged in road transport of cargo or passengers. This paper takes into account the decreasing emissions of CO₂ and its relation to the size of business (in terms of transported cargo or number of passengers), and thus by the company’s business success (income, profit). In the empirical part of this research—ecological, operational, and business factors were analyzed on a sample of road carriers from Serbia, i.e., the most common type of organized transport of people or physical goods. Key difference was made between large and small companies engaged in transport activities, followed by difference between those companies which have business activities only in Serbia, or engage also in international activities in the Balkan region (or in the rest of world). The main goal of this paper is to determine statistically significant differences between transport companies in terms of key performance indicators, depending on whether they operate only domestically or abroad. In relation to company size, this paper examined the sustainability of operations in the case of the largest transport companies, which represent half of the total transport activity in the country (by number of people transported or the amount of transported cargo), compared to all small carriers with less than 50 employees. Future research involves extending this sample of road transport companies to all Balkan countries, which have not yet become a part of the European Union and including additional operational as well as environmental indicators that are not conventionally measured during vehicle inspections.