Stanton Chase Belgrade

1. Executive Newswire 7
Stanton Chase Belgrade June 2014
In this issue:
48th GLOBAL MEETING -
STANTON CHASE
INTERNATIONAL
Pg. 2
TELENOR - A BANK OF
FUTURE
Mirjana Garapić Zakanyi, an
Executive Board Member and
the Finance and Risk Director
Pg. 4
LITTLE SECRETS OF BIG
BUSINESS
Pg. 6
RETENTION OF LEADERS IN
CHINA
Pg. 9
LEADERSHIP POTENTIAL
ASSESSMENT
Pg. 11
CORPORATE VALUES
Pg. 13
EDITOR’S LETTER
Miloš Tucaković
Managing Director
Stanton Chase Belgrade
belgrade@stantonchase.com
Dear readers,
The end of the first half of the year is coming closer and
it gives us a chance for overview and revision of plans
for the rest of the year. We sincerely hope that the
business situation is better than in previous years and
better than the rumours on the market suggest. Anyway,
regrouping and persistence is what we are all left with
and that’s why we shouldn’t surrender, but look
forward.
In our new issue we bring you, among other things, the
overview of our latest research about corporate culture
and company competencies. These indicators may be
enough inspirational for you and give you new, fresh
ideas. Several hundreds of Managers from the country
and the region participated in the survey and the sample
is representative enough, so that it can be considered
as general opinion.
We also wanted to inform you additionally about the
situation on foreign markets and current events. Thank
you for the positive comments and active support for
our work. We are still open for all suggestions and
proposals that help us improve our Newswire.
Enjoy the reading!

2. Executive Newswire
48th GLOBAL MEETING - STANTON CHASE INTERNATIONAL
Miloš Tucaković, Managing Director, Stanton Chase International
The Global meeting of STANTON CHASE INTERNATIONAL offices was held in the period
between 8th and 13th April. Lima was our phenomenal host and, as usual, along with common
business discussions, it was a great chance to exchange experiences from markets all over the
world, to meet the representatives of the Companies that especially stand out with their activities,
and also to make some important strategic decisions.
We also used the Conference to grant Stanton Chase International award for Diversity for the first
time. On the initiative of our colleague from Brussels Office, Karin Beker, we will grant this award in
every country Stanton Chase International Conference is held in, to a company that is recognized on
the market as diverse. The first laureate goes to LINDLEY Corporation and Mr. Johnny Lindley
Suárez as the Owner and General Manager. This Company was founded in 1910 and is especially
recognized by Inka Cola on the South American market. Lindley is the official partner of Coca Cola
Company since 1998. They have more than 3,500 employees and 35% of them are younger than
30. 9% of employees are women and this percentage is not negligible, given the complexity of their
work. Their social engagement is also well known outside Peru.
As far as the latest news in talents go, according to the Oxford Economics research in the next 5 to
10 years we can expect the following changes by markets:
Pg.2
Region Western
Europe
North
America
Devel-oped
Asia
Eastern
Europe
MENA Latin
America
Emerging
Industry Asia
Total change
(%)
3.5% 6.1% 10.0% 10.0% 12.7% 13.0% 22.2%
Industrial
-0.5% -2.4% 11.4% 2.4% 28.7% 17.1% 37.7%
Emerging
26.1% 38.3% 8.4% 19.8% 6.3% 10.2% 13.3%
Heavy
manufacturing
24.6% 1.7% 1.7% 33.2% 10.3% 17.8% 60.3%
Business
services
-4.4% 0.3% 51.4% 6.8% 30.1% -0.6% 40.0%
Financial
services
13.2% -8.1% 4.9% -9.9% 31.6% 48.6% 20.9%
Energy
-11.3% 22.7% 8.0% 8.7% 12.2% -11.9% 33.0%
Travel and
transport
-9.3% -1.4% 36.5% 5.0% 14.1% 32.9% 32.6%
Life
sciences
-4.1% 4.2% 8.2% 19.7% 8.6% 20.4% 16.6%

3. Stanton Chase Belgrade
Therefore, most effort in developing young
managers should be invested in heavy
manufacturing according to this research. It is
followed by emerging industries and life
sciences. As you can see, very versatile talents
will be needed on different markets, but where
should we direct our young managers is
certainly something we should think about. Also, these information are an important input for
defining the direction for young people and their formal education.
As far as Executive Search industry goes, 2013 has been a year of growth in comparison with the
last, there was 8.5% increase in turnover and it’s estimated that total income of this industry was
$10.5 million. What is interesting is that the number of projects has been reduced and in the same
time the average cost of an assignment increased by 6.2%. North America has the biggest turnover
in percentage with 44.8%, followed by Europe, Middle East and Africa with 31.5% participation. Asia
and Pacific participate with 17% and South America with 6.7%. This trend says that recovery of
world economy is more and more present and we hope that it will continue in this year too, and that
Serbia will follow it as well.
The latest news from Marketing is that from now on you can follow all Stanton Chase International
news from your phones through mobile applications for iOS, Android and Blackberry.
More information about Stanton Chase International are available on new page on Wikipedia.
Pg.3

4. Executive Newswire
TELENOR - A BANK OF FUTURE
Mirjana Garapić Zakanyi, an Executive Board Member and the Finance and Risk Director
Telenor is in the process of founding the first bank which will
offer entirely new mobile banking services in Serbia. We are talking
about this with Ms. Mirjana Garapić Zakanyi, an Executive Board
Member and the Finance and Risk Director in Telenor banka.
How would you briefly present Telenor as a company?
Telenor Serbia (www.telenor.rs) is a part of Telenor Group, one of
the world largest mobile operators, with 166 million subscribers in 13
markets. Telenor is the largest single investor in Serbia with initial
investment of 1.53 billion euro. With 3.1 million subscribers, Telenor
Serbia helps people to use all the advantages of modern
communications. The company has 119 shops in 84 cities and around 1000 employees, whereas
the Smart Network covers more than 80 percent of the population.
What is the activity plan in the coming period? When will you officially start to work with
clients?
Telenor banka will offer its services to the clients in the second part of the year. Until then we are
working on upgrading information systems which are the pillars of this type of banking. The bank is
developing the most modern technologies for securing banking services to its clients. Telenor is a
brand which offers quality and reliability. There is no space for imperfections regarding user
experience, so that in line with that a lot of energy and time is being invested in the testing phase in
order to offer a first-rate product to the market.
Which services will you offer first? Would it be necessary for the clients to possess a smart
phone?
We wish to offer an entirely new concept of banking and bring new and attractive banking services to
people in Serbia. Clients should meet all their banking needs through our application on mobile
phone or personal computer, or by contacting our Call Centre. By using the smart phone clients will
be able to feel the true advantages of mobile banking, but this is not a prerequisite for using our
bank. Bank applications could, of course, also be accessed via personal computer, as well as a
phone with a web browser.
Pg.4

5. Stanton Chase Belgrade
Are you going to have branches at all? Which channels will clients use to communicate with the
bank?
Our preferred communication channel with clients will be applications on mobile phone, personal
computer, or contacts to call center. Processes are adjusted in such a way that clients do not need to
visit branches when they want to obtain information, perform a transaction or modify something in their
account.
What is going to be the biggest competitive advantage of Telenor banka compared to classic
banks?
The biggest competitive advantage of Telenor banka will be user experience. Our services will be
innovative, of European standard and quality, user friendly and accessible at any moment and at any
place. Telenor entered banking in order to offer a new approach, a new way of operations by placing
users in the center and by designing services and processes in the manner that suits users best.
What do you think will be the greatest challenges that you will face (lack of trust, poor IT literacy,
client inertia to change their bank, etc.)?
We will work on educating citizens of Serbia, so that they could see all the advantages of mobile
banking and start running their finances on-line. That is the greatest challenge. 72% of people in Serbia
use Facebook, and only 9% run their finances online. Potential is huge.
Who is going to be the biggest competition to Telenor bank and in which way?
There are several different banking solutions in the Serbian market. One of our motives is exactly market
stimulation and development of sound competition, because we believe that launching innovations is one
of the key factors for the development of a society.
What are your plans for the next 5-6 years?
Our ambition is to become the first choice for users of mobile phones and online banking services.
Interviewed by Jasmina Milošević,
Principal Consultant, Stanton Chase Belgrade
Pg.5

6. Executive Newswire
LITTLE SECRETS OF BIG BUSINESS
Maja Manojlović, Consultant, Stanton Chase International
Given the fact that a modern businessman spends
most of his time communicating with his environment, it is
not hard to guess that one of the most important factors of
success is his way of communication. Depending on whom
you are communicating with, knowledge of the customs,
history and culture of our interlocutor is always of great
significance in order to make communication as pleasant
and productive as it can be.
Business style that we build by certain dress code, presentation and placement of the information is
our business card and it is equally important to build this business style locally and internationally. If
you think that there are universal rules of conduct in business culture and that everyone respects
them, don’t be surprised if you come across different manners of your foreign co-workers.
That is why it’s useful to remind ourselves of some general rules of conduct that might help you in
communication with foreign business partners. Negotiations with elevated tone of your host, firm
handshake and interest in your private life don’t always indicate rudeness and lack of good business
manners. In Japan, the usual way of greeting is a deep bow, not a handshake, while in America and
Europe people shake hands when introducing. Americans will often call people by their first name in
communication, whether they got the permission to or not, but you mustn’t call your business
partners from Japan by their first name - that privilege is given only to their family members and
close friends. Japanese businessmen pay strict attention to hierarchy in their companies and while
exchanging business cards it is necessary to use both hands, it is also recommended to avoid pat
on the shoulder and similar, because Japanese have the aversion towards physical contact.
Although punctuality is much appreciated in business world there are exceptions - for Arabs to be
late for the meeting is not considered rude, especially if the guest is richer and more important than
the host and it is rude to make a remark on that subject. Also, keep in mind that business
conversation with Arabs is always preceded by small talk, where you should avoid questions about
personal life (family) and be prepared that negotiations last longer than ones with partners from the
West, and in that case it is important not to show impatience. If you are a host of the meeting, keep
in mind that Arab guests are not offered alcohol, because it can be seen as an insult. When it comes
to gifts, Japanese give them a lot of significance and they can even be considered obligatory, but
you must pay strict attention on the number and wrapping.
Pg.6

7. Stanton Chase Belgrade
Gifts must be wrapped in paper of pastel colours, and if you are sending New Year presents and
cards never use red colour, because it is a colour used for notifications of funerals. Gifts that are
given in couples are considered lucky, while you should never give something that has four parts,
because four is also a word that means death. Gifts are not very important for Arabs, while
Americans are oversensitive regarding gifts so it is best to avoid them.
When meeting and talking to Europeans, it is
noticeable that differences in culture as well
as in business customs are not that
conspicuous as in nations mentioned above.
Germans expect exceptionally formal
behavior when it comes to business. First
name basis comes in question only if initiated
and women are addressed with Frau
regardless if they are married or not. A
business meeting out of the offices are not
practiced during negotiations, but only after
business part has been completed. The
Dutch are mainly accustomed to use several languages in business and their approach to business
is a bit more relaxed than German. When in contact with Scandinavians, formal behavior and
punctuality is of great importance. It is recommendable to avoid subjects such as salary, politics and
social status and if you want to make a joke, be careful about the subject. Italians and Spaniards
insist less on formality and punctuality in business. Family life is very important for them and it is
polite to ask about their family before opening business subjects. Sometimes you can enter disputes
while negotiating which is normal given their temperament. Turks will do business only with people
they trust - if you don’t make the impression of a confident person your business plan could fail
completely. By no means insist on deadlines and dates, it can ruin your cooperation - be patient. If
you see your co-workers from Turkey moving their head left - right know that it’s not a sign of
negation but of not understanding. It is inappropriate to wear short skirts and vibrant colors, and laid
back style also doesn’t leave a good impression. You should come to meetings at the agreed time
and keep in mind that shaking hands speaks a lot about you - the firmer the grip, the firmer is your
stand and morals in the eyes of your Turkish co-worker, while for your co-workers from Poland it is
not a good manner. Poles are a nation that appreciates punctuality, neatness and they give a great
importance to presentation, they will follow your every move and gesticulation. They respect
hierarchal structure in companies and they will always address you formally, so don’t think you didn’t
succeed to get through to them if, even after a few meetings, you didn’t switch to first name basis.
Respect their manners and respond the same way.
Pg.7

8. Executive Newswire
You will make friends most easily with your co-workers from Greece, they are spontaneous and
when you succeed to gain them as business partners you gain a friend as well. Greeks are loud and
noisy in debates, but that is not a sign of their rudeness, but passion they express in work. They will
always introduce a lower ranked co-worker with the superiors. If you are not sure how are they
ranked, it is best to address them as kyrie (mister) or kyiria (madam) with their last name. Don’t be
confused if while talking to them you hear ne, because it is a Greek word for yes. It is not bad if your
family emerges as the subject in a meeting, for co-workers from Greece and Turkey this kind of
information can be significant given the fact that patriarchal relations are very important to them.
Greeks are above all patriarchal so it should be your guideline in business planning. Many countries
encourage split working hours and they use the pause of almost two hours for lunch and rest and in
that period you shouldn’t schedule appointments. You should also keep holidays and days off in
mind before you embark on a journey.
Knowledge of economical, political and cultural history of the country of our business associates is
the reflection of our own personal culture. In the era of modern technologies, with little effort we can
learn a lot of useful facts that will help us build a good image. Besides that, we mustn’t forget the
significance of everyday communication with people from our business environment. Namely, there
is a very unpopular trend now in Serbia of not answering missed calls and e-mails. Is it work
overload or lack of time, unintentional oversight or simply negligence remains for us to guess...
Pg.8

9. Stanton Chase Belgrade
Multinational corporations (MNCs) face a multitude of
challenges in their effort to achieve and maintain a
leadership position in overseas markets. In the case of
China, an evolving, “next stage” market where overall
economic growth remains strong (about 7.5%) but is
leveling off, adopting a successful leadership retention
strategy has become the top priority.
The labour market in China today is fuelled by a number of factors, including: increased demand for
local managers, limited supply of qualified talent, rising compensation levels, a hyper-competitive
recruiting environment, and high turnover rates among top managers. Therefore, to remain
competitive in a dynamic arena such as Chinese market, MNCs must radically rethink their human
resources strategies and respond to these conditions with an innovative, multifaceted strategy for
acquiring and retaining the best local talent for senior-level management positions.
Old-school HR tactics, such as offering attractive compensation packages, remain important; but the
savvy MNCs are realizing that an emphasis on “softer,” less tangible aspects of employment, such
as corporate culture and career development, also are critical for capturing and keeping their highly
valuable, talented employees.
Shift towards localization
Over the past three decades, Stanton Chase International has seen staffing strategies among MNCs
in China shift away from the traditional, ethnocentric mindset, where parent-country nationals filled
all key management positions, toward an increasing emphasis on localization. A primary cause for
this shift may be the increase in the pool of available managers, as the number of Chinese college
graduates has risen over the past two decades and fewer than 10% of these grads possess the
managerial skill set required by most MNCs. Therefore, with a limited
supply of experienced managerial leaders, demand among MNCs has
reached an all-time high. Another factor contributing to the shift toward
localization may be the growing disparity between the cost of annual
salaries for foreign managers (between $350,000 - $500,000) and that
for local Chinese managers ($80,000 top).
Pg.9
RETENTION OF LEADERS IN CHINA
Stanton Chase Insights

10. Executive Newswire
Emerging Trends
Based on discussions with SCI partners and clients doing business in Asia, Stanton Chase has
identified 4 major trends that, considered together as a whole, will provide companies with the best
practices for formulating an effective leadership retention strategy:
Compensation & Training – A successful management recruitment and retention plan should
consist of several elements, in addition to financial incentives – culture, respect, and rewards (cash
and other benefits), in that order.
Culture & Style – company culture and management style — how it communicates to its employees
about future business plans or if it makes employees feel their work is meaningful; most-valued
aspects of corporate culture for managers in China included a clear vision of where the company is
going, the employee make-up of the company, its unique set of values that are lived up to by all, a
company-wide belief in fairness and promotion on merit and admired leadership.
Location & Brand – Chinese candidates tend to have a clear preference for well-known companies
and brands and in their perception, working for a famous company increases their market value and
career opportunities.
Values & Integrity – MNCs must also consider personal ethics when assessing candidates for
positions of senior leadership in China - almost as much as the leadership skills themselves.
A Western company’s chances for success when entering a foreign market is dependent on number
factors, including its HR management practices. But to remain competitive and a leader in an
evolving and maturing market like China, MNCs must incorporate a mix of solutions - from
competitive salaries and benefits, to skills and career development plans, to an understanding of
traditional Chinese values, to a progressive and forward thinking corporate culture - to ensure that
the most talented employees want to stay and to work productively.
Authors:
Ivo Hahn - Managing Director, China
Steve Watson - Former International Chairman
Mickey Matthews - Global Practice Leader, Industrial
Pg.10

11. Stanton Chase Belgrade
Business success of companies is determined by several key factors (research and
market analysis, corporate culture and company strategy, employees). Some of those factors have
always more or less, directly or indirectly affected the development of the company.
In recent years, corporate values and employee engagement are more and more in the focus and, in
line with this, special attention is directed towards employee development. The key stake holders of
companies therefore are increasingly turning to assessing the development potential of managers.
By assessment and targeted development of their professional and managerial / leadership skills,
companies influence safer business and realization of business strategies.
However, special attention is given to leadership potential assessment of middle and top managers
of the company. Priorities are defined in such a way that assessment methodology must be very
carefully chosen - “quick scan” of leadership potential should be avoided because it can lead to
subsequent failures in business and undesired consequences when it comes to cross functional
cooperation and leading/ engaging the rest of the employees.
These types of projects are increasingly being referred to as Talent Management projects
(Development Centers), i.e. Leadership Potential Assessment for further development.
Keeping this goal in mind, a large number of instruments for assessment of skills and abilities are
used.
However, questions that emerge here are – will the assessment be adequate and precise / thorough
enough and what should be done with the results?
Advance Response International uses Wilson Learning’s integrated leadership model (GROWTH
model) for the purpose of Talent Management and diagnostics of leadership development potential.
Four Management roles
Pg.11
LEADERSHIP POTENTIAL ASSESSMENT
Dušan Jovanović, Consultant, Advance Response International

12. Executive Newswire
Leadership Potential Assessment through GROWTH Model
GROWTH model defines to what extent the competencies important for each of the four
Management roles should be developed on every level of Management in the organization (first
line / middle / executive level).
Approach
During assessment, we use GROWTH model as a standard - it allows us to assess how well the
competencies for each of the four roles are currently developed and to diagnose the potential for
their further development.
During preparation of the project, we analyze the competencies of our Clients and we match them
with the competencies of the GROWTH model for each of the four Management roles.
Assessment instruments
In the leadership assessment projects, Advance Response International uses a large number of
different assessment instruments, some of them used online – business simulations (group,
one-to-one and individual assignments), personality tests, ability tests, 360° assessment.
Assessment results
Through the report after the assessment we give a summary of:
1. Current management abilities
Developed skills and abilities important for each of four Management roles
Development areas on the current management position
2. Potential for further development and career advancement
Identifying the potential for the development to other positions/ other levels of Management
Benefits for the Clients – What after the assessment:
1. Planning of best suited development programs (trainings, workshops, coaching, learning through
business assignments, distance development projects)
2. Career planning/ position succession
Speaking about Leadership Assessment, it is very important to underline that the whole process is
complex and that all observed behaviors are systematically and thoroughly analyzed by a group of
licensed assessors.
Based on our ten-year experience (with over 700 assessed managers – first line, middle and top
managers), our whole team can confirm with certainty that this Leadership Potential Assessment
methodology significantly contributes to prosperous business of the company.
Pg.12

13. Stanton Chase Belgrade
This year we have decided to conduct a Survey about the
development of corporate culture and competencies in domestic
and multinational companies. Why this subject? In today’s
constant struggle for market, both on global and local level, top
products, modern technology and safe sources of finance are a
good baseline. It certainly isn’t enough, because without people
these factors do not guarantee success. The idea behind this
Survey is that everyone should closely examine the statistics
and that all key people in the company should ask themselves if
they and their teams did everything possible so that corporate
culture and competencies are implemented. What can be done
differently so that their implementation becomes more practical?
How can this implementation become understandable to
everyone in the organization? And for those who do not yet
have defined corporate culture and competencies we would like
to give incentive to take this first step.
We hope that the results that follow will get you the insight in significance of corporate culture and
competencies.
Most of the participants in the Survey have more than 15 years of professional experience, 55% of
them and they occupy different positions within the companies. The participants mainly come from
Consumer Products (26%) sector and Industrial (17%), Financial (16%) and Professional Services
(16%) sectors follow with similar number of votes.
On the question what would they mark as key elements of the corporate culture of their Company,
51% of the participants have singled out the “open door” policy, 47% developed channels of internal
communication and 42% singled out significant investments in the development of employees (MBA
studies, trainings, professional development, etc.).
Pg.13
CORPORATE VALUES
Jovana Lučanin, Researcher, Stanton Chase International

14. Executive Newswire
Most of the participants would change in the corporate culture
the level of investing in the development of employees
(61.3%) and channels of internal communication (44.1%).
Some of the participant’s comments are: “There is nothing in
our corporate culture which is so bad that I would like to
change it, changes would be more focused on certain
individuals in the company.”, “Increase investing in
employees, refresh communication channels, renew team
spirit and celebrate success more.”, “More independence for employees. They have the freedom to
make decisions, but I feel that they don’t exercise that right often enough.”, “More honest
commitment and implementation of defined company values”.
In the companies where our participants work, the Management has a key role in the promotion of
the corporate culture, 76.2% of the participants agree. Also, 27.7% of the participants think that the
key role in the promotion of the corporate culture has the everyday promotion by the Management
on all levels (Walk the talk).
An encouraging fact is that only a small number of the companies don’t apply defined corporate
culture (6.9%), while over 50% of the companies applies it partially. The participants explain their
answers with: “Not everyone experience corporate culture in the same way and its implementation
unfortunately depends on the current mood of individuals...”, “Given that our company is small, every
individual is important as a representative of corporate culture.”, “Managers often don’t act
accordingly to the values, i.e. they don’t lead by example.”.
Participants have singled out insufficient engagement of the Management (44.3%), the gap between
personal and company values (31.9%), lack of interest among employees (26.8%) and the fact that
certain elements of the culture are not applicable on the local level (22.7%) as the main reasons of
insufficient implementation of corporate culture in the companies, though 78.6% of the participants
think that it is possible to modify the corporate culture in line with the demands of the local market in
their companies.
According to most of the participants (64.4%) the corporate culture in domestic companies should be
defined so all employees are engaged in that process. They can use multinational companies as a
model, but the elements of national culture should be considered.
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15. Stanton Chase Belgrade
CBI (competency based interview) is recognized by most of the participants (60%) as the best tool to
assess if the candidate in the selection process would fit into the corporate culture. Assessment
centre (44%) and personality tests (43%) are also the tools to use during assessment. Some of the
comments the participants adduce are: “Assessment based on integration of results obtained with
different tools.”, “If they are of quality, standard HR procedures (interview, knowledge tests,
capability tests) are enough.”, “It’s also important that the corporate culture is clear and recognized
on the market, so the candidates are familiar with what they can expect in advance.”, “Open
conversation on general subjects.”.
Even though most of the participants (56.4%) agree that it is best to use both internal and external
approach in the selection process, while assessing how the candidate will fit into the corporate
culture, we can see that the opinions are divided: “If the HR sector exists in the company... external
agencies can’t know your corporate culture better than you.”, “Company HR knows the culture and
people best and can recognize people who would best fit in.”, “For higher level positions its
necessary to use the services of Executive Search companies. They can perceive every candidate
more objectively, and they can also reach candidates that for us unavailable.”, “Internal, because the
people from the company know cultural pattern best. External, because they are objective and can
recognize cultural patterns that exist, but are considered undesirable.”, “It is necessary that
candidates talk to managers and even employees with whom they are going to work with.”.
When it comes to competencies, in most companies (46.5%) professional (by positions)
competencies are defined. In 35.6% of the companies general (for all employees) competencies are
defined, in 22.8% leadership competencies and in 26.7% of the companies all three categories of
competencies are defined. The commendable fact is that only 4.9% of the companies don’t have
defined competencies.
Competencies are mostly applied during employment (71%) and annual performance appraisal
(62%). The areas where competencies are also applied are during promotion to other / higher
position (51%), talent management (48%), training (43%), making a decision on a termination of
employment (27%) and organization of teambuilding (11%).
As previously mentioned, company competencies are mostly used during interview while employing
new staff. In that area, competencies are mostly used during interview (91.9%), but also in
simulation exercises (25.3%) and tests of abilities and knowledge (38.4%).
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16. Executive Newswire
In the companies where company competences are not defined the criteria used for
employment are recommendations (46.6%) and professional experience (46.6%). The
criteria used are also education (32.9%) and image on the market (15.9%).
As the most significant challenges in implementation of the competencies in everyday work,
most participants singled out their poor understanding (56.5%) and insufficient awareness of
the employees (55.4%). The participants also single out Lack of interest among
Management (29.3%) and Insufficient insisting of HQ on their implementation (17.4%).
We wish to thank everyone who took part in this Survey!
Pg.16

17. Stanton Chase International
Belgrade Office
Blvd. Oslobodjenja 75
11000 Belgrade, Serbia
Phone: +381 11 3973 676