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DIEM : Dubrovnik International Economic Meeting, Vol. 1 No. 1, 2013.

Conference paper

STRATEGIC MANAGEMENT AND ITS IMPLEMENTATION IN THE PRACTICE OF ENTERPRISES IN BOSNIA AND HERZEGOVINA

Ivona Vrdoljak Raguž orcid id orcid.org/0000-0002-3237-4694 ; Department of Economics and Business Economics, University of Dubrovnik, Dubrovnik
Frano Ljubić ; Department of Economics and Business Economics, University of Dubrovnik, Dubrovnik

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Abstract

Management tasks are focused both on good current business results (operations management task) and good operating results in the future, (strategic management task). Survival, growth and development at the market imply competitiveness. Enterprises can be competitive in designing, adopting and implementing appropriate strategies based on good and a reasonable mission and well-planned strategic vision that will enable the achievement of planned and desirable business objectives, financial (for liquid – operations management) and strategic, for successful business in the future. Economy in Bosnia and Herzegovina is relatively undeveloped, economic system is not equal to the economies of developed countries because private enterprises and entrepreneurship do not have a dominant role. The aim of this paper is to describe strategic management theories and their implementation in the practice of enterprises in Bosnia and Herzegovina. According to the results of empirical research, top management is focused exclusively to the achievement of good results, current operations, and almost do not think about the future (they are focused on the strategy of survival). Top and middle level managers have a low level of education; they cannot understand the meaning of strategic intention: vision, mission, goals, strategies and strategic planning. Management in non-privatized enterprises take formal rather than real responsibility for the overall business success, and the authorities do almost nothing to continue the privatization process.

Keywords

strategic management; strategic intention; enterprises in Bosnia and Herzegovina

Hrčak ID:

161536

URI

https://hrcak.srce.hr/161536

Publication date:

27.9.2013.

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