In the initial stages of the adoption and institutionalization of Public-Private Partnerships (PPPs), national governments of transitional economies have accepted, developed, and organized Public-Private Partnerships with varying degrees of success. This study aims to investigate the critical success factors (CSFs) influencing the establishment of a sustainable Public-Private Partnership in transition conditions. In the first part of the paper, based on an extensive review of the literature, previous studies and relevant results in this field are presented as a background for this research. In the second part of this article, the survey used a factor analysis, which, with the application of the Principal Component Analysis and Varimax method with Kaiser normalization, has extracted four CSFs: (1) the establishment of a central PPP unit—knowledge center; (2) the establishment of a compatible legal/regulatory framework; (3) development of national PPP policies and strategies; and (4) standardization and transparency of the process. In the concluding remarks, the authors address the perspectives and methodological research constraints, examining possibilities to develop new knowledge and more efficient Public-Private Partnership implementation in the developing PPP markets of transitional economies.

The objective of this study was to determine the relationships between quality management dimensions and organisational performance in uncertain markets (transition conditions). The study was carried out in Serbia, using a sample of 160 certified organisations. The study was based on subjective estimates provided by quality managers. Structural equation modelling was used to examine the relationships between the dimensions of quality management and organisational performance. The results of this study indicate that the shortcomings of organisations’ top managements probably significantly affect other elements of the model. The reasons for that may be a poor organisational culture and the influence of ‘climate’. These assumptions and the results of the study point to the conclusion that the effects of ISO 9000 application in the considered conditions are arguable. The paper suggests considering ‘climate’ conditions in further research in this field. According to the findings, systematic improvement of organisational performance should include improving managers’ commitment to quality management, effective quality planning, and organisational learning.

This study analyzes the energy management approach as one of the driving factors for sustainable development, not only in enterprises, but also countries. Sustainability of an enterprise is defined as its tendency to meet the need of customers and stakeholders through creative and innovative business strategies as well as activities that have a positive influence on society and environment. In this study, sustainability is measured through the application of an energy management system, but in the wood industry, which has an increasingly significant impact on the economic development in one country. The aim of this research is to determine the current situation regarding the application of energy management practices in production and service systems. The ISO 50001 standard for energy management systems considers the energy performance achieved by an enterprise. The connections between critical factors and the level of application requirements for the energy management system were statistically analyzed in this research. It was found that in enterprises that have a certified system of quality and environmental management, a higher level of energy management system implementation is evident. The research results provide data on the scientific level for the national policy improvement, as well as a developed model based on the Plan Do Check Act (PDCA) cycle for energy management system application.

The aim of this paper is to propose a model for an energy management system (EnMS) in the hospitality industry in line with the ISO 50001 standard. The new proposed model, specifically developed for service organizations, was based on the Plan–Do–Check–Act cycle and was confirmed in 280 hotels in the Western Balkans 6 (WB6) region. The data were used to investigate if hotel properties represent an influential factor in the wider implementation of EnMS requirements. The proposed model, based on the ISO 50001 standard, was developed into sub-categories, including actual regulations and legislation within the EU and WB6. Hotels, as some of the most energy-demanding buildings, due to their purpose and processes, should provide their guests with electricity, hot water, heating and air-conditioning every hour of every day. The survey was conducted in 280 hotels and lasted from December 2021 to September 2022. The research shows that the average implementation of EnMS requirements was 38.07% for the whole researched sample, i.e., 25.86% in Albania, 30.40% in Bosnia and Herzegovina, 26.11% in Kosovo, 46.34% in Montenegro, 29.86% in North Macedonia and 44.56% in Serbia. In the researched case study, the average implementation of the PLAN phase (phase for establishing basics for energy management) was 35.71%, implementation of the DO phase (phase for implementing energy management processes) was 44.90%, implementation of the CHECK phase (phase for monitoring and the measurement of energy performance) was 45.45%, and finally, implementation of the ACT phase (phase for reviewing and improving energy management) was only 25.36%. The proposed model is significant as it can be used for broader research to investigate other business sectors in hospitality and for policymakers to propose energy consumption strategies and measures for energy savings that would have a minimal impact on service quality. The novelty of this research can be seen not only in the specifically developed model for service organizations in the hospitality sector but it also contains current data from the verified model in one specific region which offers the possibility of benchmarking and evaluating one’s own organization.

This paper analyses the impact of global financial crisis on individual functional operations and resulting insurance industry's relationships with regulators, rating agencies, insureds, reinsurers and capital market investors in order to determine current insurance industry position and to derive a conclusion on necessary measures that have to be taken by insurance companies. The research results indicate that global financial crisis has negative impact on all aspects of insurance companies' business and suggest the need to focus on core business activities and the necessity of further improvement of holistic risk and capital management of global and regional insurers with the aim to overcome problems imposed by financial crisis.¹

In times of increasing awareness of sustainability and the need for efficient business processes, this study explores the integration of business process reengineering with circular economy principles within Serbian manufacturing organizations. Addressing the need for sustainable development, the research aims to propose and validate a model that harmonizes business process reengineering with the circular economy to improve environmental and organizational performance. The study conducted an extensive survey and analysis across 135 manufacturing organizations in Serbia, assessing their readiness and current practices in adopting circular economy strategies through business process reengineering, utilizing the Plan-Do-Check-Act (PDCA) model. The findings reveal a moderate level of integration, with an average implementation score of 44.70% across surveyed organizations. Notably, organizations with ISO 9001 and ISO 14001 certifications demonstrated higher levels of model implementation. The study highlights the potential of integrating business process reengineering with circular economy principles as a path to sustainable manufacturing. It also highlights the need for targeted strategies to improve management commitment, resource allocation, and participation in sustainable practices. The research contributes valuable insights for policymakers, industry stakeholders, and academic discourse, advocating for a more systematic approach to embedding circular economy principles within organizational processes for a sustainable future.