Template-Type: ReDIF-Article 1.0 Author-Name: Tonći Lazibat Title: From the Editor-in-Chief Journal: Poslovna izvrsnost - Business Excellence Pages: III-V Volume: 19 Issue: 2 Year: 2025 File-URL: https://hrcak.srce.hr/file/492527 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:III-V Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Tadić Author-Email: ivana.tadic@efst.hr Author-Workplace-Name: University of Split, Faculty of Economics, Business and Tourism, Split, Croatia Author-Name: Antonela Žaja Author-Workplace-Name: University of Split, Faculty of Economics, Business and Tourism, Split, Croatia Title: Work Motivation Across Employee Generations in Croatia Abstract: Purpose: Motivating employees has always been a challenge, particularly in today’s diverse workforce. Organizations must address the distinct needs of multiple generations coexisting in the labor market, each characterized by specific work attitudes, loyalty patterns, interpersonal dynamics, and motivational drivers, which may lead to generational gaps. The study examines the relationship between motivational factors and generational preferences among four economically active cohorts (Baby Boomers, Generation X, Generation Y, and Generation Z) in Croatia. Design/Methodology: A questionnaire-based survey was conducted in 2024 among employed individuals, exploring socio-demographic characteristics and motivational preferences. Data were collected using the snowball sampling method and analyzed through various statistical techniques. Findings: The study confirms some theoretical assumptions regarding generational differences but also identifies considerable overlap in motivational preferences, particularly related to external motivators, technological advancement, innovation, and work–life balance. Although certain distinctions exist, no statistically significant differences in overall motivation among generations were found. Practical implications: The findings highlight the importance of combining generation-specific approaches with universally relevant motivators to enhance employee engagement, satisfaction, retention, and organizational performance. Originality/Value: The paper contributes to the understanding of intergenerational motivational differences within a local segment of the Croatian labor market and offers practical insights for managers seeking to implement effective, evidence-based motivational strategies. Keywords: employee motivation; work motivation; generational differences; multigenerational workforce; Croatia Journal: Poslovna izvrsnost - Business Excellence Pages: 1-19 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.39239 File-URL: https://hrcak.srce.hr/file/492521 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:1-19 Template-Type: ReDIF-Article 1.0 Author-Name: Sandra Horvat Author-Email: shorvat@efzg.hr Author-Workplace-Name: University of Zagreb, Faculty of Economics & Business, Zagreb, Croatia Title: Exploring Private Label Perception through Projective Techniques: Insights for Retail Brand Strategy and Business Performance Abstract: Purpose: This study uses projective techniques to explore how consumers perceive private labels and provides retailers with actionable findings for developing successful private label strategies. Design/Methodology: The research employed a qualitative design using two projective techniques, word association and a combined sentence completion and role-playing task, on a sample of 98 graduate students from the University of Zagreb. Findings: Projective techniques help uncover how consumers evaluate private labels by using a rational risk–reward analysis based on price and quality. Spontaneous associations confirm that price and affordability remain the primary mental triggers, but the decision to purchase is a value-driven substitution, frequently rationalized as receiving “equal quality at a lower price”. The study establishes a strong link between private labels and the retailer’s identity. Practical Implications: From a managerial perspective, the results indicate that retailers must move beyond simple low-price positioning and focus on communicating superior value and tangible savings. Managers should address quality polarization by actively improving product quality, cooperating with local suppliers, and using explicit quality-assurance claims to mitigate perceived risk. At the same time, they should recognize that confidence in private labels is fundamentally tied to the retailer’s image. Originality/Value: What is new in this study is the use of projective techniques in this context, which leads to several specific implications for retailers. Keywords: private labels; projective techniques: word association; sentence completion; consumer perception; retail brand strategy Journal: Poslovna izvrsnost - Business Excellence Pages: 21-35 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.39250 File-URL: https://hrcak.srce.hr/file/490786 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:21-35 Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Pokrajčić Author-Workplace-Name: "Dr. Franjo Tuđman" Defence and Security University, Zagreb, Croatia Title: Behavioral Approach to Security Risk Management: Empirical Research Results Abstract: Purpose: In the context of the growing interest in integrating psychological and social dimensions of risk management, the aim of this article is to analyze the correlation between behavioral factors and the acceptance of the ISO 31000:2018 standard. Design/Methodology: The theoretical framework is based on the Theory of Planned Behavior (TPB), taking into account the influence of attitudes, subjective norms, and perceived behavioral control on employees’ safety-oriented behavior. The empirical research was conducted on a sample of 125 respondents, examining external factors (pressure of superiors, work environment) and internal factors (security awareness, perceived effectiveness, and risk exposure) in relation to the acceptance of the standard. Findings: The results indicate a statistically significant positive correlation between the influence of the work environment and the acceptance of the standard, whereas pressure of superiors demonstrated a negative correlation, suggesting employees’ resistance to an authoritarian approach. The findings further confirm the importance of security culture and a positive organizational climate in promoting compliance with security standards. Practical implications: The obtained results provide an empirical basis for redefining organizational risk management strategies through the integration of behavioral insights into institutional frameworks, with the aim of enhancing the efficiency and sustainability of security management systems. Originality/Value: This study contributes to the literature by providing empirical evidence on the role of behavioral factors in the process of adopting the ISO 31000:2018 standard, emphasizing the need to incorporate behavioral aspects into the development of organizational security culture and contemporary security risk management practices. Keywords: risk management; security risks; behavioral analysis; ISO 31000:2018 Journal: Poslovna izvrsnost - Business Excellence Pages: 37-55 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.37620 File-URL: https://hrcak.srce.hr/file/487670 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:37-55 Template-Type: ReDIF-Article 1.0 Author-Name: Mirko Bilandžić Author-Email: mbilandz@m.ffzg.hr Author-Workplace-Name: University of Zagreb, Faculty of Humanities and Social Sciences, Zagreb, Croatia Author-Name: Svjetlana Milišić Author-Workplace-Name: Libertas International University, Zagreb, Croatia Author-Name: Tihana Štimac Author-Workplace-Name: Polytechnic Marko Marulic, Knin, Croatia Title: Economic Sanctions and the Globalization of International Security Abstract: Purpose: The paper examines economic sanctions as a global phenomenon shaped by globalization and state interdependence, and aims to determine whether sanctions represent an expression of the globalization of the international order and security or, alternatively, their fragmentation. Design/Methodology: The research is based on an analysis of 1,547 cases of imposed economic sanctions recorded in the Global Sanctions Database, applying comparative and interpretive approaches to assess trends, actors, and the effects of sanctions within the context of global interconnectedness. Findings: Economic sanctions have become a central instrument of national security and international politics, while their increasingly frequent use simultaneously deepens the fragmentation of the global order and confirms the presence of both integrative and disintegrative dimensions of globalization. These processes reshape the structure of the global economic environment and generate new conditions and constraints for international economic flows, indirectly influencing the strategic environment in which business systems operate. Practical Implications: The study enables decision-makers to assess the broader geopolitical and security significance of sanctions in a globally interdependent system. As sanctions alter the conditions of international trade, financial flows, and regulatory frameworks, their application may have direct consequences for business systems, including supply chain disruptions, heightened risk exposure, the need to adjust business models, and the strengthening of organizational resilience. In this respect, the paper contributes to understanding how geopolitical measures such as sanctions shape the business environment and create demands for strategic corporate adaptation in a globally fragmented context. Originality/Value: The paper contributes to the theoretical and empirical understanding of economic sanctions as both a product and a driver of global transformations in international security and governance, and offers relevant insights for analyzing business resilience and corporate adaptation to changes in the global environment shaped by sanctions. Keywords: economic sanctions; globalization; international security; global order; global economic interdependence; Global Sanctions Database Journal: Poslovna izvrsnost - Business Excellence Pages: 57-73 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.39210 File-URL: https://hrcak.srce.hr/file/492524 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:57-73 Template-Type: ReDIF-Article 1.0 Author-Name: Ivana Bernat Author-Email: ivalenta@efzg.hr Author-Workplace-Name: University of Zagreb, Faculty of Economics & Business, Zagreb, Croatia Author-Name: Mirjana Hladika Author-Workplace-Name: University of Zagreb, Faculty of Economics & Business, Zagreb, Croatia Title: The Evolution of Fair Value Accounting: A Bibliometric and Historical Analysis of Scientific Perspectives Abstract: Purpose: The paper provides a comprehensive account of how the concept of fair value has evolved in financial reporting, emphasizing its historical development, theoretical foundations, and the diverse academic perspectives that have shaped its interpretation and application across different contexts. It also examines how these developments relate to the quality, transparency, and decision usefulness of financial information. Design/Methodology: The study employs a combination of bibliometric and content analysis. It draws on 4,132 peer-reviewed articles indexed in Scopus between 2005 and 2025 and uses VOSviewer software to identify trends, co-occurring terms, keyword networks, and citation patterns in publications related to fair value and fair value accounting. Findings: Interest in fair value accounting increased substantially following the 2008 financial crisis. The analysis highlights both supportive and critical perspectives, with recurring concerns regarding reliability, relevance, volatility, and informational usefulness. The findings also reveal a recent shift in the literature toward linking fair value accounting with broader themes such as sustainability and corporate social responsibility. Practical Implications: We clarified key areas of academic debate surrounding fair value and demonstrates how these discussions intersect with issues of reporting quality, risk, and transparency. The insights may be particularly relevant to standard setters, regulators, and financial statement users when evaluating valuation inputs and disclosures during periods of financial instability and structural change. Originality/Value: By combining quantitative mapping with qualitative interpretation, the study offers a structured synthesis of how fair value accounting has been debated and redefined in academic research between 2005 and 2025. It identifies dominant and emerging themes, highlights underexplored areas such as specific sectors and sustainability-related applications, and supports future research at the intersection of financial reporting, governance, and organizational performance. Keywords: fair value accounting; financial reporting; IFRS 13; global financial crisis; bibliometric analysis Journal: Poslovna izvrsnost - Business Excellence Pages: 75-86 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.39134 File-URL: https://hrcak.srce.hr/file/492526 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:75-86 Template-Type: ReDIF-Article 1.0 Author-Name: Iris Mihajlović Author-Email: iris.mihajlovic@unidu.hr Author-Workplace-Name: University of Dubrovnik, Faculty of Economics and Business, Dubrovnik, Croatia Author-Name: Anamaria Lukenda Author-Workplace-Name: Atlassian Corporation, Center of Excellence, Mountain View, CA, United States Author-Name: Andrea Ucović Author-Workplace-Name: University of Dubrovnik, Faculty of Economics and Business, Dubrovnik, Croatia Title: Insights into Communication Efficiency: Quality of Information and Traveler Satisfaction as Key Drivers in Examining Customer Experience Abstract: Purpose: The paper examines customer experience management in tourism, with an emphasis on travel as a specific form of consumer experiences. The quality of the customer experience becomes a key differentiating factor when choosing destinations and service providers, with information and digital technologies playing a crucial role. Design/Methodology: The paper combines theoretical and practical insights to demonstrate how the understanding of customer experiences in tourism and its components contribute to the systematic approach when finding optimal models for experience management and achieving the satisfaction. The theoretical part considers sources of information before, during, and after travel and it presents customer experience management models, such as the FICO and Forrester models. The empirical part is based on a survey whose aim is to examine ways of informing travelers about travel, the importance of different sources and formats of information, and the relationship between the level of preparedness and information and the level of experience measured by the level of customer satisfaction. Findings: Findings highlight key factors in travel decision-making, such as reliability, accuracy, availability and security of information, which encourage loyalty and strengthen the perception of destination identity. By reducing the gap between expectations and an actual value, through the quality of information and the application of innovative technological solutions, spatial and temporal convergence is enabled, better adaptation of the offer to the needs of travelers and finally harmonization of relations between service providers and users in distant markets. Practical Implications: Digital tools, such as reviews and online platforms, enable efficient co-creation of services, covering emotional and sensory components of the experience, and improving the customer experience quality. Originality/Value: The paper provides insights into how quality customer experience in tourism, supported by innovative digital tools and information sources, contributes to higher customer satisfaction and loyalty, and offers a framework for improving relations between providers and users in a global tourism market. Keywords: tourism; user experience; personalized information; recommendations; digital tools Journal: Poslovna izvrsnost - Business Excellence Pages: 87-108 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.38649 File-URL: https://hrcak.srce.hr/file/487672 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:87-108 Template-Type: ReDIF-Article 1.0 Author-Name: Valentina Ješić Author-Email: valentina.matic@kbcsm.hr Author-Workplace-Name: Sisters of Charity Hospital, Zagreb, Croatia Author-Name: Sabina Babić Author-Workplace-Name: University of Novo Mesto, Faculty of Health Sciences, Novo Mesto, Slovenia Title: Quality Management Systems in Healthcare Facilities: Between Rules, Standards, and Business Excellence Abstract: Purpose: This paper explores the role of quality management systems (QMS) in Croatian healthcare institutions, emphasizing their regulatory foundations, the implementation of international standards (ISO 9001, EN 15224, ISO 7101), and their potential to enhance safety, performance, and organizational excellence. Design/Methodology: A thematic literature review was conducted using sources from PubMed, Web of Science, Scopus, Google Scholar, and Hrčak, covering the period from 2015 to 2025. Inclusion criteria focused on peer-reviewed studies and official regulations related to healthcare QMS, international certification models, and performance monitoring practices. Selected examples of good practice from Croatian hospitals were also analyzed. Findings: The implementation of QMS in Croatian healthcare institutions has advanced considerably, driven by legislation and the support of national bodies such as the Ministry of Health and the Croatian Health Insurance Fund. Institutions that adopt ISO standards report improvements in documentation, communication, risk management, and patient satisfaction. Case studies, such as those from the Special Hospital Medico and General Hospital Pula, demonstrate that multi-standard certification fosters a strong safety culture and strategic excellence. Nonetheless, challenges remain, including uneven implementation, limited human and financial resources, and the absence of a unified national accreditation framework. Practical Implications: To ensure sustainable quality improvement, healthcare institutions must embed QMS into everyday management, invest in continuous staff education, strengthen leadership engagement, and adopt digital solutions. QMS should not be viewed solely as a regulatory obligation but as a strategic imperative involving all stakeholders. Originality/Value: This paper offers a comprehensive overview of QMS development in Croatian healthcare and demonstrates how alignment with international standards can significantly elevate both patient care quality and institutional effectiveness. Keywords: quality management; healthcare institutions; ISO standards; patient safety; accreditation Journal: Poslovna izvrsnost - Business Excellence Pages: 109-120 Volume: 19 Issue: 2 Year: 2025 DOI: 10.22598/pi-be/2025.2.37815 File-URL: https://hrcak.srce.hr/file/486802 File-Format: Application/pdf Handle: RePEc:zag:busexc:v:19:y:2025:i:2:p:109-120