Istrazivanja i projektovanja za privreduJournal of Applied Engineering Science

Arrival of big multinational companies to Serbia and the SEE region primarily because of the low cost labour and 60 million people market, resulted in higer demand for consulting services, which despite of being expensive offer the higest possibility for the companies' growth in the developing countries. "Foresight 2020" research conducted by the British magazine The Economist about economic, industrial and corporate trends in the world until 2020 undoubtfully reveals that the knowledge will be the base for competitive advantage of companies in the following one and a half decade. Effective implementation of information technologies combined with the "knowledgeable employees" who exhibit creativity, good communication skills and ability for team work will be the key factors for success of the companies, countries or regions. Finally, a dimension that will significantly enhance the financial performance of the companies and infulence their rating is effective application of forecasting methods which in Western Europe and especially North America presents the key approach of every production unit, sales, marketing or financial department. Successful forecasting assumes studying the past and knowing the present, and consequently establishing the relationships between the factors that influence business performance of the companies and their market appearance.