This paper firstly presents the development trends of the insurance market in Bosnia and Herzegovina in the period 2004-2015 measured by the indicators of density and insurance penetration, and then it presents the research concerning the factors that have a major impact on the development of the insurance market, as well as research related to the examination of the impact of insurance on economic growth. One of the aims of the paper has been to check whether the results of the scientists who examined the interrelationship of insurance market development and economic growth in different countries and at different time periods would be confirmed for the market of Bosnia and Herzegovina.

In order to establish open market economy in the Republic of Srpska, it is necessary to establish an efficient financial system. That requires the existence of open and liquid capital market. In economies that are in transition, such as the economy of the Republic of Srpska, the efficient financial system is particularly significant for raising capital. Capital can also be raised with securities. without well-developed and efficient capital market, It is not achievable. Practical experience has shown that development of capital market depends on various determinants. For the development of efficient capital market, one of the most significant determinants is a great number of securities suitable for trading. Therefore, this research article will be focused on presentation and analysis of the shares of securities in the development of capital market in the Republic of Srpska.

Modern theory and progressive practice agree in the assessment that history of civilization and trade are intertwined. On the other side, trade is the mirror of the development of national economy. If this statement is at least approximately correct, it opens up the question of the power of Serbian commerce in terms of market globalization and international management. The answer to this question is neither easy nor simple. There are many reasons for that. The key reason is that economyof the Republic of Serbia still suffers from illnesses of post-transitional euphoria. Retrospective analyses of Serbian economy in the last decade of 20th century and post-transitional period from the beginning of 21 century will serve as the platform to overview the ambient in which our companies are doing business today. The aim of this study is to point out the basic features of Serbian economy through its analysis. In the final part of the study, the authors provide a review of the current crisis of a Croatian giant, Agrokor-crisis, and indicate the strategic ways of further development of Serbian economy and commerce.

This paper analyses the impact of the new trends in the software industry on changes in the economies of developing countries. Global economy has undergone a drastic transformation in recent decades. Once isolated markets are now part of a single, global market. Information technologies have changed the ways the World operates and have had a significant impact on global economic performance. Many economies and enterprises have implemented this technology, trying to use them in order to gain competitiveness, economic growth and development. Due to the large capacity for employment and opportunities for achieving significant revenue, especially through outsourcing IT services and software exports, today ICT sector is in the focus in the countries in transition. Dozens of developing countries have become important exporters of software products and services. In this context, the world attention was attracted by India, mainly due to its outstanding performance in export of software services, which can be inspiring for other developing countries.

The new economy has caused a change of the form of organization and existence of businesses, as well as to the important almost tectonic changing role of traditional factors of production. Land, labor and capital take an important place in the production process today, the primacy or more receive new factors of production such as information and knowledge in particular. In such a market milieu created a new paradigm of organizational structuring business entities, which is based on knowledge as the main driving force. The learning organization is a new form of business organization that their existence is based on today resource most important business entities, and that is knowledge. Permanent implementation of innovations and their transfer to the manufacturing standards and concrete products is a requirement that permanently raises the market operators of the new economy, and there just comes to the fore a learning organization. The paper will be listed the basic characteristics of a learning organization, knowledge as the main factor of competitiveness of modern businesses and the possibility of forming a projection and construction of learning organizations to spread Southeast Europe.

Companies owning consumer databases provide successful performance on the market whose effects are measured by achievements of objectives of sales and profit. Collection and use of consumer data enable better determination of the target markets and understanding of consumer behavior. Field of computerized segmentation and defining target markets is extremely sophisticated and essential for Direct Marketing so that those who apply it consider it as a new marketing, namely Database Marketing. The modern definition of Database Marketing indicates that it is a form of Direct Marketing using databases of both current and potential customers applying new and advanced approaches. In other words, today technology advancements enable efficient use of the database to collect, consolidate, analyze, understand and manage customer data in order to deliver relevant and personalized marketing messages to the right place at the right time. The Internet is a great medium for the further development of Database Marketing that through the creation of an electronic database facilitates the monitoring of companies promotional effects. Therefore, this paper analyzes the influence of novel Information and Communication Technologies (ICTs) to the development of Database Marketing as well as Database Marketingsignificance and influence to business success.