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Numerous research studies of the various companies’ business practices indicate a strong relationship between customer satisfaction, as an overall positive response generated after the use of the specific product or service, and their intention to continue using the products/services of the company. As a rule, satisfied and particularly delighted customers show intention to return and become loyal, whereas dissatisfied and disappointed customers have switching intentions. Therefore, the objective of this study is to empirically test to which extent the intention to switch banks in Montenegro depends on customer satisfaction or dissatisfaction. With this regard, we have posed a question inquiring about the level of consumers satisfaction/dissatisfaction with banking services in Montenegro, what their intentions are regarding the continuation of using services of the chosen bank (customer retention & defection), and to what extent customer satisfaction and dissatisfaction determine their intention to change the bank. The analysis has established a statistically significant correlation between satisfaction, dissatisfaction, and intentions of leaving the bank. Findings has shown a relatively high level of customer satisfaction with banking services in Montenegro, as well as confirming that dissatisfaction usually leads to the intention to leave and change the bank, while satisfaction leads to the continued use of the bank’s services. A high level of competition in the banking services market as well as the struggle for each consumer makes this topic undeniably current and this research represents a significant input for the bank management in Montenegro regarding the identification of the real situation with customer satisfaction and their intention to switch banks in accordance with their level of satisfaction.

Ever changing business landscape has numerous effects on employee behaviuor at work. This paper aims to test whether private and public sector employees in Montenegro are showing different levels of employee attitudes in the new working environment, taking into consideration severe changes from the recent past. In this research, the level of job engagement, job stress, and intentions to leave the organization were tested based on a sample of 1969 responders. Statistical T-test was applied as well as correlation analysis. The results of this research are showing that working in the private or public sector has a statistically confirmed effect on the level of job engagement, job stress, and turnover intentions. Besides, when the level of job stress increases, there is a decline in job engagement and an upsurge in turnover intention. Obtained results have scientific and practical implications.

It is no surprise that the digital economy (DE) has raised expectations and it is still raising them. The aim of this study is to implement testing which will indicate how much the digital economy can help the less developed countries to overcome the economic lag. In order to come up with an answer, the study is based on provocative hypotheses which will elaborate on the development paradox by which the digital economy cannot help the less developed countries. The argument that supports the main hypothesis of this study declares that GDP growth is not equivalent to the growth of investment in DE infrastructure and, therefore, DE is contributing to the increase in inequality instead of reducing it. The paradox is confirmed with the implementation of the SEM modelling on high-income countries (HIC) and middle-income countries (MIC). Moreover, the study measured, i.e., determined, the relative importance and impact of each DE component on the economic growth in HIC and MIC countries. According to the results of this research, in MIC the most significant DE factor which has an impact on GDP growth is the investment in education, whereas in HIC countries infrastructure has the leading part when it comes to economic growth. The final part of this study includes a proposition of a set of guidelines relating to the direction of public policy development in order to make the most of DE’s impact on the creation of a fairer and better system and society. Due to the comprehensive range of questions that come from this study, several topics for future research have been recommended.

Montenegro has a small open economy, characterized by a small domestic market. Montenegro depends to a large extent on imports, which results in a negative trade balance. That negative balance is partly mitigated by the positive balance in the service sector.

The logic that customer satisfaction is the starting point of marketing and business activities is based on the assumption that customer satisfaction leads to customer loyalty, keeping in mind all of the positive effects that customer loyalty has on business success of an organization. Because of this, marketing and management theory and practice dedicate particular attention to the concepts of customer satisfaction and loyalty. In this paper we will use the surveys of customers of banking services not only to show the levels of their satisfaction and loyalty, but also to make a comparative analysis of data obtained through online and offline research. This approach was made possible because the research was carried out on a sample which was divided in two groups. All of the participants answered the questions from a unique questionnaire, however, one group took the survey via the Internet (online) while data from the other group of participants was collected in the field by using printed questionnaires (offline). The findings of the comparative analysis of online and offline survey results are presented in the final part of the paper.

The paper analyzes the problem of the mismatch between the education system and the labour market. The aim of the research is an analysis of the current situation on the labour market, a consideration of key constraints in the education system and identifying possible solutions. The problem analysis covers a broader context: a change in the economic structure, the problem of migration and regional disparities, the specificities of the labour market and the results of the reform of the education system. An international comparison of the competitiveness of the Montenegrin economy, from the perspective of the education system and labour market is presented in the final section of the paper in order to identify room for improvement of the current situation. At the same time, the research results reveal the problem on the Montenegrin labour market of a lower or higher level of education compared to the needs of the market. In 2014, the labour supply was 24.6% higher than the demand for labour. In addition to long-term unemployment, the labour market in Montenegro is characterized by the following: unused human potential – low activity rates, high youth unemployment rates, disparities in regional unemployment, the problem of internal labour migration, intensive employment of workers from countries in the region, etc. The system of formal education in Montenegro is unconcerned about the needs of the market. The primacy of quantity over quality has contributed to the rapid growth in the number of graduates, resulting in a rise in the number of unemployed university graduates. Lack of specialization study programs and educational programs at the level of general secondary education leads to the formation of knowledge of low practical value. Eventually, it all results in a situation which is best described by this simple statement: the more easily you get a diploma, the harder it will be for you to find employment., U radu se analizira problem neusklađenosti sistema obrazovanja i tržišta rada. Cilj istraživanja je analiza postojećeg stanja na tržištu rada, razmatranje ključnih ograničenja u sistemu obrazovanja i identificiranje mogućih rješenja. Analiza problema obuhvaća širi kontekst: promjenu gospodarske strukture, problem migracija i regionalnih dispariteta, specifičnosti tržišta rada i rezultate reformi sustava obrazovanja. Međunarodna komparacija konkurentnosti crnogorskog gospodarstva, sa stanovništa sistema edukacije i tržišta rada, data je na kraju istraživanja u namjeri da se identificira prostor za unapređenje trenutnog stanja. Rezultati istraživanja pokazuju da na crnogorskom tržištu, istovremeno, izražen problem manjeg, odnosno, većeg nivoa obrazovanja u odnosu na potrebe tržišta. U 2014. godini ponuda rada bila je 24,6% veća od tražnje za radom. Pored dugoročne nezaposlenosti, tržište rada u Crnoj Gori karakteriziraju: neiskorištenost ljudskog potencijala - niska stopa aktivnosti, visoka stopa nezaposlenosti mladih, dispariteti u regionalnoj nezaposlenosti, problem unutrašnje migracije radne snage, intenzivno zapošljavanje radnika iz zemalja regije itd. Sistem formalnog obrazovanja u Crnoj Gori nema sluha za potrebe tržišta. Primat kvantiteta nad kvalitetom doprinio je ubrzanom rastu broja diplomaca, što za posljedicu ima rast broja nezaposlenih visokoškolaca. Nedovoljna specijalizacija studijskih programa i obrazovnih programa na nivou općeg srednjeg obrazovanja dovodi do stvaranja znanja niske upotrebne vrijednosti. Prisutan je sindrom lakše do diplome – teže do posla.