The topic of this research are critical success
factors (CSFs) with a focus on factors that constitute the basis for the
success of insurance companies. There are no critical success factors common to
all enterprises, all areas and all activities. In insurance companies, key
performance indicators primarily depend on the service quality and the level of
customer satisfaction. In contemporary business conditions, the relevance of
the service has been increasingly important. Therefore, the concept named 5P is
suggested, standing for purpose, pride,
partnership, protection and personalization,
as these five factors define the requirements that must be met, if the
insurer’s service is to be perceived to be of high-quality, achieve client
satisfaction and build client loyalty. The paper presents a research into the
perception of insurance service and factors of insurance quality in the
Federation of Bosnia and Herzegovina (FBiH). Research results correspond to the
5P concept and reveal the security factor as the most important factor for the
insured. A fast and efficient payment of claims, the attitude of the salespeople
toward the insured, described in terms of respectful and knowledgeable staff,
as well as the clarity of promotion and the availability of insurance service
also ranked high.
The purpose of this study is to carry out a comprehensive and robust analysis of the determinants of the capital structure of the Federation Bosnia and Herzegovina (FBiH)
Entrepreneurs play an important role nowadays as well as in the history of economic thoughtentrepreneur used to be the one bearing the risk of buying at certain prices and selling at uncertain prices, protagonist of economic activity and innovating so the new combinations of inputs are used in order to create new output. Nevertheless, relationship between entrepreneurial activity and national growth is not so straightforward. This study aims to contribute to the stream of research that tries to uncover the ultimate results of entrepreneurship. This paper seeks to explore influence of TEA in countries that belongs to different categories regarding 'uncertainty avoidance' cultural dimension. Our results could not confirm that entrepreneurial activity increases with increase of per capita income. We argue that entrepreneurial activity could contribute to GDP growth regardless of current level of development. We find that the entrepreneurial activity can increase or decrease GDP growth rates depending on level of preferences for uncertainty avoidance. We argue that TEA in countries with lower and higher preferences for uncertainty avoidance will negatively influence the GDP growth. Possible explanation is that less innovative ventures are created in countries with lower preference for uncertainty avoidance thus no considerable influence on GDP could be expected while more ventures fail as the entrepreneurs starts riskier business in the countries with higher preferences for uncertainty avoidance. Countries in the middle of these two extreme values can expect positive effect of TEA on GDP growth since preference for uncertainty is neither too high nor too low. Nevertheless, these results should be taken with caution since not all results were statistically significant. The main limitation is lack of data on entrepreneurial activity for all countries so instead of using TEA in the period preceding the GDP growth, average TEA for 2010-2011 was used.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.