Impact of investment in quality and environmental protection on regional sustainability

Abstract

Considering that quality is one of foundation of harmonized regional development, in this paper, overall view of identified need for level of product quality, improvement of environmental protection, improvement of competitiveness and improvement of quality of tourism services has been analysed. In the next phase requests of stakeholders are presented. Author has also analysed feasibility of investing in quality improvement and environmental protection in Sumadija and Pomoravlje and identified the most significant types of economic benefits and economic costs that may result from the introduction of ISO 9001, ISO 14001, HACCP and obtaining the CE mark for products and diagrammatic unveiled in the assumed maximum, realistic and minimum value applying cost/benefit analysis. On these bases, mathematical functions and calculations are applied to determine if there are different variants of total economic benefits and total economic costs. Goal was to determine if the investment in quality improvement and environmental protection in SMEs in Sumadija and Pomoravlje is largely justified and profitable.