Mirjana Milovanović

This study investigates institutional perspectives on ruralentrepreneurship in Bosnia and Herzegovina, addressinga significant gap in research on meso-level actors in postsocialist contexts. Using a structured survey of 43 institutionalrepresentatives, including ministries, municipalities,educational institutions, and development agencies, the studyidentifies key enablers and barriers to rural entrepreneurship.Descriptive and multivariate statistical analyses (factorand cluster analysis) reveal heterogeneous institutionalpriorities, highlighting human capital, infrastructure, andproduct quality as critical drivers. Virtual training is seen asa viable tool for capacity building, especially in sustainableagriculture, tourism, and infrastructure. Results suggestthat institutions differ in strategic orientation, ranging fromholistic to pragmatic mindsets. These findings advanceunderstanding of institutional logic in rural entrepreneurshipand inform targeted policy design, digital trainingdevelopment, and ecosystem-level interventions alignedwith community needs.

This paper aims to explore key aspects of strategic planing for investment activities to ensure that municipalities can adequately adapt to climate change. The main research question investigates the extent to which strategic planning is focused on climate change adaptation measures. The hypothesis is: Municipalities have planned and developed mechanisms for financing activities aimed at climate change adaptation. To validate this hypothesis, we used a methodology that included desk research and a case study of four local government units in Bosnia and Herzegovina—two from each entity. This paper provides empirical evidence on the direction that local government units, municipalities should take in adapting to climate change through strategic planning. The limitations of the research stem from the complexity of the constitutional structure of Bosnia and Herzegovina and the differing legislation applied in the two entities in the area relevant to this study.

This paper explores the evolution and growing importance of artificial intelligence (AI) in contemporary marketing, with particular emphasis on predictive analytics, hyperpersonalization, and user engagement. Beginning with the earliest applications in the 1950s through market segmentation algorithms, and continuing with the introduction of Customer Relationship Management (CRM) systems in the 1980s and the rise of big data and machine learning in the 2010s, AI has gradually transformed marketing practices. Modern AI tools facilitate the automation of routine processes, enable large-scale personalization of communication, and provide valuable insights derived from vast datasets. Generative AI, particularly through platforms such as ChatGPT, has revolutionized content creation and consumer interaction by mimicking human language with minimal human input. Recent labor market findings point to the rapid and widespread adoption of AI, especially in marketing and advertising sectors. Predictive algorithms are increasingly employed to anticipate consumer behavior, manage campaigns, and enhance segmentation strategies. Furthermore, the integration of AI with voice assistants, augmented reality (AR), and virtual reality (VR) is opening up new possibilities for real-time, interactive marketing campaigns. Despite challenges related to data integrity and algorithmic transparency, the advantages of AI-driven strategies are substantial, and continued investment in research and innovation is crucial to realizing its full transformative potential. A dedicated section of this paper presents a case study of the global company Mercedes-Benz and its implementation of AI technologies in business operations and marketing strategy.

The paper deals with the evaluation of the financing of the education system in the Republic of Srpska in the period from 2014 to the end of 2023, with special reference to the importance of education for overall social and economic development. Education is a key factor for the development of human resources, innovation and competitiveness, and is vital for the long-term progress of the country. However, the results of the analysis show that less than 2% of the total investments are invested in the education sector, which is significantly below the international standards and recommendations. This lack of investment can threaten the quality of education, reduce the availability of resources and lead to long-term consequences for the economic growth and social stability. Through a review of quantitative data, the paper identifies weaknesses in the structure of education financing and points to the necessary reforms to enable a better investment in the education sector, which is of essential importance for the sustainable development of the Republic of Srpska.

Bosnia and Herzegovina is a country in transition with an economy that imports more than it exports, but the importance of exports is crucial for sustainable economic growth. This paper investigates the impact of the gross domestic product (GDP) on the foreign trade of Bosnia and Herzegovina, focusing on the exchange of goods with the countries of the European Union. The analysis covers the period from 2009 to the end of 2022 to look at long-term trends. The main goal of the research is to determine the existence of a statistically significant influence of GDP on the exports and imports of the country. Using the t-test, the value of exports/imports between the countries of the European Union and other countries is also analyzed. Firstly, an analysis of macroeconomic trends was conducted, which is crucial for understanding the economic situation in BiH. Monitoring the trends of GDP, imports, and exports provides insights into the country’s economic activity. GDP trends reflect economic growth or recession, while the analysis of imports and exports provides information on trade activities. From 2009 to the end of 2022, the GDP of BiH mostly showed a rising trend, with exceptions such as in 2012. The GDP growth rate varied during the analyzed period, with the lowest values during the years of the global financial crisis and the Covid-19 pandemic, and the highest in 2021. Imports and exports of Bosnia and Herzegovina are also important indicators of economic activity. The value of imports and exports mostly showed an upward trend, although decreases were recorded in some years. The analysis of the relationship between imports and exports indicates a trade deficit, which can be a challenge for economic stability. The country faces challenges in achieving balance in the foreign trade balance, given the higher imports compared to exports. After analyzing macroeconomic trends, a regression analysis was conducted to determine the impact of GDP on the imports and exports of Bosnia and Herzegovina. The results show a statistically significant positive correlation between GDP and imports, as well as exports. This confirms that economic growth (GDP) positively influences the country’s trade activities. Additionally, the trade exchange of Bosnia and Herzegovina with the countries of the European Union and other countries was analyzed. Although no statistically significant difference was found, the data show a significant volume of trade with the European Union countries. Favorable trade agreements facilitate access to the EU market for Bosnian products, while the connection with the EU enables access to technology and investments that support economic development. Further development of trade relations with the EU is expected to support the economic growth of this country and open up new business opportunities. The results of the research provide insight into the trends of the mentioned variables during the analyzed period. Based on the obtained results, concrete recommendations are given for increasing the export of Bosnia and Herzegovina. The paper contributes to the understanding of the economic dynamics of this country in the trade context, emphasizing the importance of strategies for improving exports and strengthening economic stability.

This paper examines the transparency of financing of the non-profit organizations. This subject is regulated by legal and by-laws that define the conditions and criteria that non-profit organizations, should fulfill and satisfy in order to gain allocated funds. However, the question arises of the transparency of the financing of these organizations, whether the allocation procedure is followed by reports on the intended use of funds, whether there is a clearly visible public interest that is financed by budget funds. Therefore, this research was prepared in order to provide an answer and collect data on the method of allocation and the amount of financial amounts of public funds that were available to non-profit organizations for the period 2021-2022. The subject of analysis of this paper includes the legal framework for financing non-governmental organizations in the Republic of Srpska, and the goal is to determine to what extent the legal regulation affects the achievement of transparency in the financing of non-profit organizations. In accordance with the above, the following hypotheses are tested: H1: The legal framework for financing non-profit organizations in the Republika Srpska provides an adequate basis for achieving transparency regarding the collection and spending of funds by non-profit organizations. H2: Inadequate application of legal regulations and the absence of appropriate by-laws affect the achievement of a low level of transparency in the financing of non-profit organizations in the Republic of Srpska. The considerations that we give through the conclusion of the paper will give us an answer to the set research problem and confirm or deny the truth of the set hypothesis.

This paper is about entrepreneurship and the importance of entrepreneurship in economic processes in an economy. When a person decides that his career is entrepreneurship and the entrepreneurial process gives answers to the key questions, what do I want to achieve, what are my goals, where am I now and where do I want to go? The subject of research is the concept of entrepreneurship, its complexity and importance for the development of the economy. We defined the problem by the question to what extent the state plays a role in the development of entrepreneurship, as well as the influence of small and medium-sized enterprises on the development of entrepreneurship.

In addition to the large number of definitions of marketing, which have been given by researchers and marketers for decades, the simplest conclusion is that marketing is a discipline that is constantly developing, adapting to changes in society, technology and, above all, consumer behavior. The future of marketing is rapidly evolving, driven by the shift from traditional to digital platforms and the integration of AI technologies. The future of marketing will likely see an even greater reliance on AI-driven insights, augmented reality experiences, and voice search optimization. As technology advances, the boundaries between traditional and digital marketing will continue to blur, leading to a more integrated, data-driven approach that prioritizes consumer experience and engagement. There is only one truth - Marketers who adapt to these changes will thrive in this dynamic environment.