Sales process disfunctions in the textile industry are problems that cause loss of customers, incomplete market supply, etc. The objective of the research is to analyse transactions from the textile industry database in order to find patterns in buyers’ behavior and improve the model of decision-making. Association rules, one of the most noticeable data mining techniques, is used as methodology to learn rules and market patterns that occur in sales in the textile industry, which will enhance the decision-making process, by making it more effective and efficient. The Apriori algorithm was applied and open source software Orange was used. It has been shown using a real-life dataset containing 2000 transactions from the textile industry of the South East Europe region that the approach proposed is useful in discovering effective knowledge in data associated with sales. The study reports new interesting rules and the dependence of the following parameters: Support, Confidence, Lift and Leverage on making more customized offers in the textile industry.

Abstract:Decision making is a very significant and complex function of management that requires methods and techniques that simplify the process of choosing the best alternative. In modern business, the challenge for managers is to find the alternatives for improving the decision-making process. Decisions directly affect profit generation and positioning of the c ompany in the market. It is well-known that people dealt with the phenomenon of decision making in each phase of the development of society, which has triggered the need to learn more about this process. The main contribution of this paper is to show the significance of business intelligence tools and techniques as support to the decision making process of managers. Research results have shown that business intelligence plays an enormous role in modern decision process modeling.

No abstract

Abstract. Innovation is driving force for future growth. Economies of many countries are mostly based on old, traditional linear models of "closed" innovation, that include none or minimal external stakeholder engagement in creating market value. However, in order to achieve the well-being of the whole society, all relevant external stakeholders should be involved in creating open innovation environments and platforms that foster collaboration and co-creation of new business solutions. In today's knowledge society ICT enables availability of different and various pieces of information in global terms. One of the most brilliant scientists Einstein long time ago said that "Imagination is more important than knowledge". The core of every successful business or project is imagination. In order to use information to create new real market value and innovative business approaches, good ideas, imagination and intuition is necessary. Wisdom of innovative open-minded stakeholders creates wisdom society. How can entrepreneurs contribute to the modern economy? What should be changed so that better environment for creative thinking and doing can me make?

The paper analyzes the importance of implementing international standards in Serbian companies to achieve competitivness at domestic and international markets. To maintain and improve their competitive position the organization must be flexible, innovative and reactive to changes that are now numerous and dynamic. The only way for company to improve its situation at international market is implementing and continuous improvement of product/service quality in order to satisfy the consumers. Domestic companies are not yet aware of that. The way that leads to achieving business excellence is in the right use of knowledge.