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International journal of multidisciplinarity in business and science, Vol. 4 No. 6, 2018.

Original scientific paper

THE INDIRECT EFFECT OF INNOVATION OBJECTIVES AND KNOWLEDGE SOURCES ON ECONOMIC PERFORMANCES OF SMALL SERVICE COMPANIES IN BOSNIA AND HERZEGOVINA

Mersiha Bektašević ; Clear Balance, Sarajevo, Bosna i Hercegovina
Ljiljan Veselinović orcid id orcid.org/0000-0003-2585-5016 ; Ekonomski fakultet Univerziteta u Sarajevu, Sarajevo, Bosna i Hercegovina
Jasmina Mangafić orcid id orcid.org/0000-0003-2560-3230 ; Ekonomski fakultet Univerziteta u Sarajevu, Sarajevo, Bosna i Hercegovina
Danijela Martinović orcid id orcid.org/0000-0002-6799-2265 ; Ekonomski fakultet Univerziteta u Sarajevu, Sarajevo, Bosna i Hercegovina

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Abstract

Innovations are the cornerstone for achieving competitive advantage and better business results. This paper analyses the impact of innovation objectives and knowledge sources on the level of a firm’s innovation and economic performance. The paper aims to investigate the role and importance that innovations have in small service companies in Bosnia and Herzegovina and to determine whether a greater diversity of innovation objectives and knowledge sources can contribute to the explanation of variation in the innovation activity of the company. Our results partially confirm the existence of a statistically significant and positive association between, on the one hand, the number of innovation objectives and knowledge sources, and on the other hand, some technological and non-technological innovations in small service companies. Also, only one type of technological innovation (an innovation of products and services), and one type of non-technological innovations (change of business practices) have statistically significant and positive impact on the economic performance of small service companies. Finally, our results confirm that there is a statistically significant and positive indirect effect of innovation objectives and knowledge sources on economic performance. These results should be taken with caution due to a smaller sample.

Keywords

innovation; innovation objectives; knowledge source; small service companies; economic performance; Bosnia and Herzegovina

Hrčak ID:

214885

URI

https://hrcak.srce.hr/214885

Publication date:

30.12.2018.

Article data in other languages: croatian

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