: 3:33 + 336 ISSN 1820-6859

, MAGAZINE FOR BUSINESS ECONOMICS, ENTREPRENEURSHIP AND FINANCE

BUSINESS ECONOMICS

V, 1

. VIII

, 2011.

: 3:33 + 336 ISSN 1820-6859

BUSINESS ECONOMICS

, MAGAZINE FOR BUSINESS ECONOMICS, ENTREPRENEURSHIP AND FINANCE

V, 1, . VIII

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: 021/489-3647, 489-3611-mail:redakcija@educons.edu.rs

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CONTENTS

ISSUE THEME:

FINANCE AND BANKING

Milenko Deletovi - Marko Miloevi - Jasna Panteli THE SECURITIZATION OF MORTGAGE LOANS AS THE CAUSE OF

TRANSMISION CRISIS ON THE FINANCIAL MARKET ...................................1

Branislav Brcanski INVESTMENT FUNDS IN THE

DEVELOPMENT OF CAPITAL MARKET ........................................................... 23

Sandra Zajmi ABC COSTING AS AN INSTRUMENT OF IMPROVING THE

COST ACCOUNTING SYSTEM ............................................................................. 41

TOURISM AND SPORT

Eva Hrabovski-Tomi - Sneana Miti INSURANCE AS A NECESSARY COMPONENT OF ADVENTURE

TOURISM..................................................................................................................... 57

Sneana teti - Vanja Dragievi - Jovan Plava - Ugljea Stankov BUSINESS EVENTS AND TOURISM DESTINATION DEVELOPMENT ..... 73

Milan Nei - Svetlana Popmihajlov - Zeremski CUSTOMER STATUS AS DETERMINANT OF EVALUATION OF THE

SPORTS SERVICES .................................................................................................... 91

Bela Muhi STIMULATING PROGRAMS OF THE EUROPEAN UNION TO THE

DEVELOPMENT OF TOURISM IN RURAL AREAS ....................................... 107

NEWS

Aleksandar ivkovi - Milenko Deletovi THE IMPACT OF GLOBAL ECONOMIC CRISIS ON THE SERBIA

ECONOMY AND THE COUNTRIES IN THE ENVIRONMENT ................. 125

Sanja Filipovi - Dragan Lonar INVESTMENT TRENDS IN AGRIBUSINESS SECTOR WITH SPECIAL

REFERENCE TO VOJVODINA ............................................................................. 145

Joef Kabok - Goran Aneli - Vladimir akovi APPLICATION OF THE INVESTMENT MODEL FOR HIGHER

EDUCATION INSTITUTIONS ............................................................................. 165

Vojko Saksida HOW THE BALTIC COUNTRIES (ESTONIA, LATVIA AND LITHUANIA)

MANAGED TO PERFORM SUCCESSFUL REFORM OF THE PENSION SYSTEM, INTRODUCE A 3 TIER SYSTEM AND MAKE THE SYSTEM SUSTAINABLE .......................................................................................................... 191

Biljana Lazi - Jasmina Markov THE ANALYSIS OF COMPETITIVENESS OF SERBIA ACCORDING TO

THE GLOBAL COMEPTITIVENESS INDEX..................................................... 211

Branimir Nei CREDIT FINANCING AS A FORM OF STATE AIDINTENDED FOR

EXPORTERS .............................................................................................................. 231

EUROPEAN INTEGRATION

Jova Miloradi - Simonida Vuenov - Bojana Kordanuli CURRENT SITUATION OF THE INSURANCE MARKET IN EUROPEAN

UNION ....................................................................................................................... 251

Mladen Peri MUNICIPAL BONDS AS AN INSTRUMENT OF FISCAL

DECENTRALIZATION AND APPROACHING THE EUROPEAN UNION ..................................................... 273

Ana Jovaevi THE INSTITUTIONS OF GERMAN CULTURAL POLICY IN FOREIGN

COUNTRIES(VIEW IN SERBIA) ......................................................................... 283

MARKETING, MEDIA AND BUSINESS COMMUNICATIONS

Aleksandar Andrejevi - Milan Cekovi NEGOTIATOR IN THE VIEW OF BUILDING A HIGH PERFORMANCE

ORGANIZATION ..................................................................................................... 307

Aleksandar Grubor CUSTOMER RELATIONSHIPS IN SERVICES MARKETING ....................... 319

Milan Baji ETHICAL CHALLENGES IN MARKETING ...................................................... 335

Tatjana R. Gaji-Arsenijevi THE APPLICATION OF ETHICS CODE IN PROMOTION ........................... 355

HUMAN RESOURCE MANAGEMENT

Aleksandar Andrejevi - Vladana Radnovi EFFECT OF INTERNAL FACTORS ON MANAGERIAL STRESS IN

ORGANIZATIONS................................................................................................... 375

Jelena Vemi urkovi TOTAL QUALITY ORIENTED HUMAN RESOURCE

MANAGEMENT ....................................................................................................... 395

METHODOLOGICAL STUDIES

Dragan Suboti METHODOLOGICAL PROCEDURE OF CASE STUDIES IN SOCIAL

SCIENCES .................................................................................................................. 411

SCIENTIFIC REVIEWS, CRITIQUES AND ANALYSIS

Ana Jovaevi EUROPEAN PARLIAMENT - AN ACTOR IN DECISION-MAKING IN THE

EUROPEAN UNION ............................................................................................... 445

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1 B U S I N E S S E C O N O M I C S

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15 : Gerardi, K, Shapiro A. H, Willen, P. , S. , Subprime Outcomes: Risky Mortgages, Homeownership Experiences and Foreclosures, Federal Reserve Bank of Boston Working Papers No. 07-15, 2007.

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: Thieu, R. , Financial ratio = Corporate leverage,http://www. robinthieu. com/mybusiness. htm, 2008.

3. 1 (Citigroup, Merill Lynch, Lehman Brothers, AIG, Fannie and Freddie) , , - 2005. 2008. . , , , , , .

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SUMMARYTHE SECURITIZATION OF MORTGAGE LOANS AS THE CAUSE OF TRANSMISION CRISIS ON THE FINANCIAL

MARKET

The working paper analyzes the process of securitization of all types of mortgage loans whose conversion into securities rep-resenting ground spillover from the mortgage crisis on financial markets. The working paper explains the connection with the mortgage credit market, where special emphasis is placed on the process of securitization, credit fragmentation process in the U. S. , as well as the biggest mistakes when converting mortgages into securities. We will explain the increase in financial leverage due to financial market which cause securitization process. The risk of default on mortgage loans leads to an inability of evaluation of a major asset classes of securities. The working paper also shows the role of rating agencies in the entire process of evaluation securities. Finally, the working paper shows the failure of financial institu-tions due to financial market crisis that is transferred through the securitization process from the mortgage market.

Key words: mortgage market, financial markets, securitiza-tion, financial leverage, rating agencies, financial crisis.

LITERATURAAshcraft, A. , B. , Schuerman, T. 1. Understanding the Securitization of Sub-prime Mortgage Credit, Federal Reserve Bank of New York, Staff Reports No. 318, 2008Cecchetti, G. , S. 2. Crisis and Responses: The Federal Reserve and the Financial Crisis of 2007-2008, National bureau of economic research, working pappers No. 14134, 2008Chart Series Name: 3. http://www. economagic. com Davidson, P. , 4. Financial markets, money, and the real world, Edward Elgar

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Publishing, Chetlenham UK, 2002. Demyanyk, Y. , Van Hemert, O. , 5. Understanding the Subprime Mortgage Cri-sis, Federal Reserve Bank of St. Louis, Working Paper 2007-05, 2007. Economic report to the president6. , Annual report, 2008-2009Fannie Mae Case-GS7. , http://www. mba. tuck. dartmouth. edu/pdf/2003-1-0070Federal Reserve System8. , http://www. federalreserve. govFinancial Times Report9. , october, http://www. ft. com/globalfinance crisis/josefstiglitz/2008. html. , 2008. Gerardi, K. , Shapiro, A, H, Willen, S, P. , 10. Subprime outcomes: Risky mortgag-es, homeownership experiences, and foreclosures, Federal Reserves of Boston, Working papers No. 07-15, 2008. Lehman Brothers, 11. Global issuance of structured financial products, www. le-hman. com/who/awards/2008/ta_best_derivatives. htm - 5k, 2008. Lucas, D. , Goodman, L. , Fabozzi, F. 12. Collateralized Debt Obligation: Struc-tures and Analyses, Wiley Second Edition, p. p 172-174. , 2006. Mayer, C, Pence, K, Shane, S. , 13. The rise in mortgage defaults, Journal of Eco-nomic perspectives, 23 (1), 2009. Mishkin, S. F. , 14. Monetarna ekonomija, bankarstvo i finansijska trita, sed-mo izdanje, Columbia University, data status Beograd, 2006. Morgan Stanley, 15. Private equity leverage multiples, www. morganstanley. com/im/msil/200809_msil_comm. pdf, 2008. Roubini, N. , 16. The current U. S Recession and the risks of a systematic fi-nacial crisis, New York University, Written Testimony for the House of RepresentativesFinancial Services Committee Hearing on February 26th, 2008. Thieu, R. ,17. Financial ratio = Corporate leverage, http://www. robinthieu. com/mybusiness. htm, 2008. Thieu, R. , 18. Subprime mortgage crisis red september, http://www. docstoc. com/docs/2527493/Financial-crisis-in-mortage, 2008. Tobias, A, Shin, H. S. , 19. Liquidity and leverage, Federal Reserve Bank of New York Staff Reports, 328, 2009. US Federal Deposit Insurance Corporation, 20. Borowing under a securitization structur, http://www. fdic. gov/news/news/speeches/archives/2007/chair-man/spapr1707. html, 2007. Wall Street Journal, 21. The Process of Making CDOs Create CDOs based on MBS, http://www. online. wsj. com/public/resources/documents/infoflash07. html, 2008. Welch, J,S, 22. Subprime mortgage crisis 2008, http://www. scribd. com/doc/7469179/Subprime-Mortgage-Crisis-2008, 2008.

22

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RESUME:

The financial crisis is a result of misuse of the idea of a free and unregulated financial market. Model of the free market is fundamentally well-designed model, however implementation has been poorly implemented because the market (especially the Securities Market) did not take into account the information asymmetry and moral hazard. Because of the spillover of the crisis through a process of securitization onto the financial market, certain financial institutions have collapsed, while some were saved (this claim will be imputed to the government and the Federal Reserve because of the application of the principle too big to fail). After many years government intervention on financial markets is actual again, while the concept of neo-liberalism and the rejection of the role of the government suffered a defeat. Existing concept of organization based on laisses faire ideology, shall replace the institutionally regulated financial system, particularly the financial markets (in the domain of the process of securitization, trade of securitized securities, financial derivatives, etc. ) which will be able to predict and prevent the irresponsible actions of financial subjects. The paper analyzes the process of securitization of all types of mortgage loans whose conversion into securities represents ground spillover from the mortgage crisis on financial markets. The paper explains the connection with the mortgage loan market, where special emphasis is placed on the process of securitization, credit fragmentation process in the U. S. , as well as the biggest mistakes when converting mortgages into securities. We will explain the increase in financial leverage due to financial market which causes the securitization process. The risk of default on mortgage loans leads to inability of evaluation of major asset classes of securities. The paper also shows the role of rating agencies in the entire process of evaluation securities. Finally, the paper shows the failure of financial institutions due to financial market crisis that is transferred through the securitization process from the mortgage market.

25.10.2010, 24.03.2011.

23

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38

.

SUMMARYINVESTMENT FUNDS IN THE DEVELOPMENT OF

CAPITAL MARKET

Mutual funds appeared to us in early 2007, according to many with substantial delays. Due to significant growth in market share during that period, it quickly established a number of action funds which noted significant rates of return until the crisis has not af-fected the stock market and led to a significant decline. With the fall of stock markets appeared more conservative funds. Today, of 13 funds, two funds are balanced, three of the fund to preserve the value of property, and the remaining eight are equity funds. Mutual funds offer several advantages to investors: professional fund management, diversification, easy access, liquidity.

Key words: mutual fund, portfolio, the investor, net assest val-ue, the investment unit.

: . , . , 1. , - , , 2003. . , . , 2. , , 2006. . , 3. - , , 1990. . , 4. : - , , 2001. . , . , 5. -, , 2009. www. investicioni fondovi. com6. www. ici. com7.

RESUME

Mutual funds are the most appropriate form of development and successful functioning of capital markets. For investment funds is a characteristic that, in the form of institutional investors selling equity securities (shares). Mutual funds invest their capital in long-term securities, by purchasing the same from different issuers, and also broadcast their own long-term securities and keep their resale. They possess their own long-term portfolio securities and may be organized as open-ended investment funds, closed as the state investment funds. Only functions and operations of the funds is not possible without the existence

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of the stock exchange as an organized space in which it made purchases and sales of securities by institutional investors.

Mutual funds are not sufficiently implemented in the financial market. Investment units in the past had monthly decline to 20%. Only in March 2009. , melted to 400 million dinars of capital, and funds can not hide that in the last six months 2009th There were no new investors. Since investment funds, investors remained on average less than half, and the expected yield of 30% are not nearly achieved. Even if individuals decided to entrust the money that now funds and wait for better times, there is no guarantee that any funds after a few months does not exist. If it is known that the domestic industry is literally to exhale it is reasonable to question why would any Founder invested money in something that will certainly tomorrow that is worth less. This is especially true for equity fund that are related to the problems of the Belgrade Stock Exchange, which is capitalization at this point only one billion euros, which is 80% less than two years ago. Funds have the assets of 11 million euros, and the end of 2007. The six funds is disposed with as many as 50 million.

13.01.2011, 24.03.2011.

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3: -. . , .

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50

ABC COSTING

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0. 40

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50

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10

3

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x

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51

. 41-54

:

, -, . BC - , - , .

, , . BC - .

.

- .

- - . .

, .

- . BC -.

52

ABC COSTING

- . -.

BC - . , , .

. BC.

Ahmed Scapens ( : , 1991. ) BC . - , . - 100% . , BC . 1991. - - , , . -; / /.

SUMMARYABC COSTING AS AN INSTRUMENT OF IMPROVING THE

COST ACCOUNTING SYSTEM

ABC principle, as a relatively new concept, is emerging as a more frequent accounting instrument in modern manufacturing enterprises. Most companies still use standard cost accounting systems for inventory valuation and for the purposes of financial reporting and for many other management purposes. Therefore, ABC principles can be a useful tool in improving competetive position of an organization and improving the existing system

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. 41-54

of cost accounting. ABC principle greatly improves the quality of accounting information, which are crucial for decision-making, planning and timely and adequate control, thereby encouraging the development of accounting information systems caused by di-verse changes in accounting and its environment.

y words: ABC principle, systems of cost accounting, man-agement accounting, activity based costing.

BPP Professional Education, 1. Managerial paper P2, Management accounting- Decision Making, Ashford Colour, London Press, 2004. . , 2. , , , 2006. . , 3. 2003/2004 . , 4. 2000/2001Kaplan R. , 5. - , FTC Kaplan Limited, Wokingham, Berkshire, 2006. . , 6. , , , 1998. . , 7. , , , 2000. . , 8. due diligence , , , 2007. www. abctech. co9. mwww. accountingcoach. com/online-accounting-course/30Xpg01. htm10. lwww. themanager. org/Knowledgebase/Finance/11. ABC. htmwww. valuebasedmanagement. net/methods_abc. htm12. l

RESUME

Activity-based model bridges the gap between the financial systems and various operational systems of the organization. If the model is designed and implemented appropriately, it can provide better information for decision making and business development, than any other system because it contains the operational and financial data incorporated into the model, which reflects

54

ABC COSTING

how business really functions.

The expansion of the model and its development should be maintained continuously, so it could keep pace with changes in the business.

All cost accounting systems have their advantages and disadvantages, which does not mean that a system should be automatically rejected because of certain shortcomings that are related to its operation. Each system can be a proper and adequate solution, all depending on the circumstances. Opportunities can be linked to the type of company and its business, industry enterprises, the size of the company and the quantity and quality of accounting information which system should provide. Each successive system, in time perspective, represents the improvement of the previous system. Therefore, we can conclude that the ABC principle, has been developed to complement and improve the system of standard costing. Hence, the difference is only in the way of presenting data that already exist in the system of standard costing, only the data are obtained and presented in a different way. This can not be understood in the manner that any system or principle is wrong, but only that some of them may have a different approach, and, therefore, to arrive through various methodologies to the same data, depending on the requirements and needs of the management for necessary information. It is important to know that most companies still use standard cost accounting systems for inventory valuation and for purposes of financial statements so as for many other purposes of management. Therefore, ABC principles can be a useful tool in improving of competitive position of an organization, or improving the existing system of cost accounting.

What remains indisputable is that the ABC principle greatly improves the quality of accounting information, which are crucial for decision-making, planning and timely and adequate control, thereby encouraging the development of accounting information systems caused by diverse changes in accounting and its environment.

27.05.2010, 24.03.2011.

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SUMMARYINSURANCE AS A NECESSARY COMPONENT OF

ADVENTURE TOURISM

This paper focuses on adventure tourism, as one of the global megatrends of niche tourism and for which most authors agree that this form of tourism implies spending time outdoors, physi-cal activities, exposure to new experiences with the existence of a certain amount of risk, and all with an aim to have an active holi-day that is characterized by new experience and adventure. When dealing with adventure tourism, safety and security of tourists are at stake. Despite the presence of experienced guides, tourists are exposed to risks that can be negatively manifested and can cause damage or destruction of property or equipment, as well as light or more serious injuries of the participants, and in worst case death. With this in mind, it is extremely important that tourists who are engaged in adventure tourism have adequate insurance. Therefore, the aim of this paper is to present the important role of security and safety in adventure tourism, because of certain characteristics that make it dangerous for the participants as well as to highlight the importance of proper selection of insurance as a necessary compo-nent of adventure tourism.

Key words: adventure tourism, insurance, risk management, safety, security

:Addison, A. C. , 1. Disappearing world, United Nations Educational scientific, Harper Collins Publishers, Quarto, 2007.

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Carey, M. J. , Aitken, M. E. , 2. Motorbike injuries in Bermuda: A risk for tour-ists. Annals of Emergency Medicine, 28(4), 424-429, 1996. Cater, C, 3. Can I play too? Inclusion and exclusion in adventure tourism. The North West Geographer, 3, 2000, 50-60. Cloutier, R. , 4. The Business of Adventure: Developing a Business in Adventure Tourism. Kamloops, British Columbia Canada: Bhudak Consultants, 1998. Cordato, A. J. , 5. Australian Travel and Tourism Law, Sydney: Butterworths, 1999. Ewert, A. , Outdoor Adventure Pursuits: Foundation, Models and Theories. 6. Columbus, OH: Publishing Horizons, 1989. Hall, C. M. , 7. Adventure, sport and health tourism, in C. M. Hall and B. Weiler (eds. ), Special Interest Tourism. London: Belhaven press, 1992. pp. 141-158. Hall, C. M. , McArthur, S. , Commercial white-water rafting in Australia, in 8. D. Mercer (ed. ), New Viewpoints in Australian Outdoor Recreation Research and Planning, Melbourne: Hepper-Marriott, 1994, pp. 109-118Hall, M. , Weiler, B. , 9. Introduction. Whats special about special interest tour-ism? In B. Weiler, & C. M. Hall (Eds. ), Special interest tourism. Bellhaven Press, 1992. - , . , 10. C , , , 2008. - , . , , . , 11. , , , , , , . IV-. 1, 2010. . 19-32. Kolluru, R. V. , Public health and safety risks: Prevention and other initia-12. tives, in R. V. Kolluru, S. M. Bartell, R. M. Pitblado, and R. Scott Stricoff (eds. ), Risk Assessment and Management Handbook. New York: McGraw-Hill, s. 5. 1-5. 61. i Smith, K. ,Environmental Hazards: Assessing Risk and Reducing Disasters (3rd ed. ). London: Routledge, 2001,Mansfeld, Y. , Pizam, A. , 13. Tourism, security and safety. From theory to prac-tice, 1st ed. , Elsevier, Butterworth-Heinemann 2006. Maritime Safety Authority, 14. Accident Report and Investigation Summary (Re-port No. 94 487). Wellington, New Zealand: Author, 1994. Morgan, D. J. , 15. Adventure tourism activities in New Zealand: Perceptions and management of client risk. Tourism Recreation Research, 25(3), 2000, 79-89. Swarbrooke, J. , 16. Adventure Tourism: The new frontier. Butterworth-Heine-man, Oxford, 2003. VTOA, 17. Tourism accreditation An overview. Victorian Tourism Operators Association (http://www. vtoa. asn. au/accred/inex. html), 2001. Weaver, D. B. , 18. Ecotourism in the less developed world, CABI International Publishing, (1989).

72

. - . - ...

Wilks, J. , Atheton, T. , 19. Health and safety in Australia marne tourism: A social, medical and legal appraisal. The Journal of Tourism Studies, 5(2), 1994, 2-16.

RESUME

This paper deals with adventure tourism as one of the global megatrends in niche tourism. Most authors agree that this form of tourism implies outdoor settings, engaging in physical activities, and exposure to new experiences where a certain dose of risk is present, all with the aim of spending an active vacation characterized by new experiences.

When tourists engage in adventure tourism, their security and safety are compromised. Despite the presence of experienced guides, tourists are exposed to risks which can have negative repercussions and cause damage to or destruction of property or equipment, as well as minor or serious injuries of participants, and even death. Having in mind all of the above, it is extremely important that tourists who engage in adventure tourism have adequate insurance protection.

Due to the fact that this is a predominantly theoretical paper, the research objective was primarily to form a synthesis of theoretical standpoints using the available literature, as well as a synthesis of experiences concerning adventure tourism, with the aim of creating an overview of the current characteristics and tendencies of adventure tourism, as well as of its specific characteristics. The paper provides an explanation and clarification of how adventure tourism activities differ from traditional outdoor recreation due to the fact that they represent a deliberate pursuit of risk and uncertain outcome often referred to as adventure, where an individual often faces increasing levels of risk or personal threat. In the following segment, the paper examines the role of crisis management in adventure tourism, with the aim of creating an introduction to the next theoretical segment which deals with insurance as a manner of ensuring safety and security in adventure tourism, as well as the possible forms of insurance coverage which provide protection for both participants and travel organizers.

Finally, it is noted in the conclusion that the act of writing accident insurance, as merely one of the numerous available options, ensures the security and safety of tourists participants in adventure tourism, whereby the crucial prerequisite for the further development of adventure tourism is met.

01.02.2011, 24.03.2011.

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: 338. 48-61:65

. 1 , -

. 2 , -

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74

. - . - . - . ...

, , , . , , . , , , .

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(World Travel and Tourism Council WTTC), - . 2000 2010. 53%, 2010 2020. - 3,6% . : , , , (Taylor, 2010). , - ( 55%), , - , . (International Congress and Convention Association ICCA)5. , ICCA

5 ICCA

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Davidson Cope (2003) . Rogers (2006) .

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82

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-2. , - (guests);

3. - (social programmes);

, 4. , , , (returners) (Davidson, Cope, 2003).

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. , Davidson Cope (2003) 20% 30% , Opperman (1996) . 2008. (, 2008).

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(guest programmes), -. , , - . , , , , , .

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84

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-, , -, , - , , - , , , - .

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(events industry), , , - . , , , , , - . - (-). , , , .

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86

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SUMMARYBUSINESS EVENTS AND TOURISM DESTINATION

DEVELOPMENT

In the last few decades business events attracted great attention in academic circles worldwide, particularly in the most developed emissive and receptive markets, but also the attention of political authorities and institutions that create a tourist destination policy. Significant economic effects, the positive destina-tion image that is created after successfully organized business events and ma-jor investments in infrastructure necessary for holding business events, as well as overall destination economic development, are just some of the basic factors that contribute to a growing number of destinations on the world map, which compete in the conquest of the international business events market. Although the main motivation to participate in a business event is primarily business, ac-

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quire new knowledge and communication, business travelers after working part of the event or after its completion, often become a classic tourists. The paper presents a comparison of business and leisure tourism, in order to emphasize the connection that exists between holding business events and destination tourism development. Based on foreign and domestic researches, the paper analyzes how business events can stimulate leisure tourism development at destination and it emphasizes the significance of business events participants satisfaction with the quality of provided services for future leisure tourism development at destina-tion.

Key words: business events, tourism, tourism destination

:Akin, A. , Ebru T. I. , Rya, E. , A Comparison of Tourist Expectations and 1. Satisfaction: A Case Study from Antalya Region of Turkey, International Scientific Journal Turizam, Department of Geography, Tourism and Hotel Management, Novi Sad, vol. 14 issue 2, 2010, 66 77. , . , 2. , , , , , , 2008. , . , 3. , , , , , , 2010. Chaspoule, C. , 4. Tourisme de Congrs un march en mutation Editorial. Espace Tourisme et Loisirs, N. 184, 2001, 19-43. Davidson, R. and Cope, B. , Business Travel - 5. Conferences, Incentive Travel, Exhibitions, Corporate Hospitality and Corporate Travel, Pearson Education, 2003. Davidson, R. , Adding Business Travel to pleasure: conventions and tour-6. ism, Proceedings of the Convention/Expo Summit IX, Jones, D. , University of Nevada, Las Vegas, 2001. Dragievi, V. , Blei, I. , Stankov, U. , Satisfaction and Behavioral Inten-7. tions of Congress Attendees: Evidence from an International Congress in Novi Sad (Serbia), Geographica Pannonica Department of Geography, Tour-ism and Hotel Management, Novi Sad, vol. 14 issue 1, 2010, 23 30. Getz, D. , 8. Event management and event tourism (2nd ed. ), Cognizant Com-munication Corporation, New York, 2005. Getz, D. , Event tourism: Definition, evolution and research, 9. Tourism Man-agement, vol. 29, 2008, 403-428. Oppermann, M. , Convention destination images: analysis of association 10.

88

. - . - . - . ...

meeting planners perceptions, Tourism Management, vol. 17 iss. 3, 1996, 175-182. Rogers, T. , 11. Conferences and Conventions: A Global Industry, Butterworth - Heinemann, Oxford, 2006. Severt, D. , Wang, Y. , Chen, P. , Breiter, D. , Examining the motivation, per-12. ceived performance and behavioral intentions of conventions attendees: Evi-dence from a regional conference, Tourism Management 28, 2007, 399-408. Swarbrooke, J. , Horner, S. , 13. Business Travel and Tourism, Butterworth - Hei-nemann, Oxford, 2001. Taylor, R. , Business Tourism Market, 14. 2010. . Uriely, N. , Travelling workers and working tourists: variations across 15. the interaction between work and tourism, International Journal of Tourism Research, 2001, vol. 3, 1-8. WTO,16. UNWTO World Tourism Barometar, World Tourism Organization, Madrid, 2010. WTO, 17. A Practical Guide to Tourism Destination Management, World Tour-ism Organization, Madrid, 2007. WTO, 18. Definitions Concerning Tourism Statistics, World Tourism Organiza-tion, Madrid, 1993. International Congress and Convention Association ICCA, 19. www. icca-world. com. . , 20. , , , 2007 . , , 21. , LVII, 2009, . 199-214 . , , . 22. 32, - , , , 2010. teti S. , imievi D. , 23. Business travellers an important segment of tourism development in Serbia, ATLAS annual conference 2010, Mass tourism vs. niche tourism, 2010.

RESUME

In the last few decades business events attracted great attention in academic circles worldwide, particularly in the most developed emissive and receptive markets, but also the attention of political authorities and institutions that create a tourist destination policy. Significant economic effects, the positive destina-tion image that is created after successfully organized business events and major

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investments in infrastructure necessary for holding business events, as well as overall destination economic development, are just some of the basic factors that contribute to a growing number of destinations on the world map, which com-pete in the conquest of the international business events market.

In this paper, we aim to deal with the following research items: comparison of business and leisure tourism, in order to emphasize the connection that ex-ists between holding business events and destination tourism development, how business events can stimulate leisure tourism development at destination and the importance of business events participants satisfaction with the quality of provided services for future leisure tourism development at a destination.

Although the tourist travel and business travel have been seen as two totally opposite fields of human activity, it is sometimes difficult to separate and dif-ferentiate these two segments on the tourism market, thus tourism experts pay more and more attention to situations or events when leisure time activities and business are combined, and the question is how business tourism generates more tourist activities at destination.

The paper discusses four ways how business events can increase the level of tourist activity at destination: an extension of business travellers stay at destina-tion for sightseeing (extenders); business travellers usually come accompanied by spouses or family members who participate in tourist activities at destination (guests); business travellers participate in tourist activities that are an integral part of the event and in social programs; business travellers, impressed by desti-nation and its attractiveness, return to the destination with the family or, even, recommend it to others for a holiday or short visit (returners).

For tourism development at a destination, the most important business events are mega events, such as world exhibitions and fairs, and major confer-ences of international character. However, every business event, whether it comes to congress, fair, incentive travel, if organized effectively, can contribute not only to development of business tourism, but also to leisure tourism development. If business travellers are satisfied with the quality of services provided at the destination and the overall experience, studies show that there is a desire to visit again a given destination or to recommend it to friends. Business tourism does not bring only economic benefits to the destination as a consequence of spend-ing on holding a business event, business tourists spending and possible exten-sion of their stay, but also business tourists become destination ambassadors. If they had a positive experience at the destination, they would recommend it to others (word-of-mouth promotion) or visit it in the future. Therefore, success-fully organized business events can improve destination image on the tourism

90

. - . - . - . ...

market and increase the volume of tourist traffic.

24.11.2010, 24.03.2011.

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100

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V 1

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SUMMARYCUSTOMER STATUS AS DETERMINANT OF

EVALUATION OF THE SPORTS SERVICES

Sport has become the area that has attracted many consumers with a desire to properly use their leisure time. It offers various products, and in relation to its specificity, as well as any public activity, aims to provide a services to various types of consumers. Therefore sports services should be available to wider demand segments, because they meet different needs and have different effects on potential users.

Previous research has shown that consumers use very similar criteria in evaluating the quality of services. It can certainly relate to the evaluation of sports services, where the estimated criteria linked to their reliability, responsiveness, competence, accessibility, communication, security, understanding and familiarity to consumers.

Empirical research conducted on a sample of 242 respondents had a task to perform the evaluation of some aspects of quality in sports services, based on the attitudes and opinions of different user segments and employees of Sport and Business Centre Vojvodina, Novi Sad. The study was aimed at determining the basic factors that determine the level of quality of sports services in the Business Centre Vojvodina, Novi Sad.

Key words: evaluation, consumers, sports services

, . , 1. , , , , 2009. Kotler, Ph. , . 2. Marketing Management, Millennium ed. Upper Saddle River, N. J. ,Prentice Hall, 1991. , . , 3. , , , 2006. , . , 4. , , , 2008. - , . , 5. , , , , 2010. , . , 6. , , , 2006.

V 1

105

. 91-105

, . , 7. , , , 2001.

RESUME

The progress of modern production technologies, as a result of scientific-industrial revolution brought with it major changes in the sphere of mans work involvement. Intensive industrialization, urbanization, automation and computerization has led to radical changes both in the structure of employment (working conditions and stress), and even more in the nature, scope, manner and conditions of implementation of human free time. Everyday work is substantially burdened with the neuro-psychological stress, while the dynamic muscle activity is drastically decreased.

Contemporary character of the man living leaves more free time that he can and should devote himself and his families. Leisure time, regardless of its time coverage, should be effectively and rationally planned and used. In this respect, the man was instructed to use the various services that are offered to him in everyday life, which relate to the functional leisure.

From the standpoint of the characteristics of sport as a public service activities, we can consider that sports services are the sum of different benefits, goods and services that contribute to the satisfaction of sporting and recreational needs of the people (as consumers), and are available to them while using the service at the appropriate time and in one place.

The results of this research showed that services of specific sports centre are assessed by its users, as external evaluators, mostly positive. The attitudes and opinions about the quality of sports services that meet the needs of sports and other activities within the service context of SPC Vojvodina represent an important determinant of the evaluation of this public facility. It is also important to point out that this study found out that the status of the user is the most dominant determinant in evaluating the quality of sports services by direct users.

15.01.2011, 24.03.2011.

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