An intellectual capital or intangible assets, as valuable economic resources, is increasingly becoming key driver of organizations' economic performance and competitiveness. The purpose of this research is to examine the three dimensions of intellectual capital i.e. human capital, structural capital, and relational capital, and their interdependence and, to test their direct and total effects on organizational effectiveness according to competing values approach. The proposed research model is tested in product-oriented and service-oriented organizations in the Republic of Srpska, Bosnia and Herzegovina, to establish similarities and differences within these two types of organizations. The research was performed using psychometrically validated questionnaires to measure intellectual capital and organizational effectiveness. To test hypothesized correlations partial least squares structural equation modelling (PLS-SEM) is employed. The main findings from this research are: interdependence of intellectual capital dimensions and their direct effects on certain organizational effectiveness models are significant in both types of organizations but in service-oriented organizations there is insignificant effect of human capital on structural capital, and, finally, total effects analysis shows that positive interdependence of intellectual capital dimensions increases the total positive effect of intellectual capital on organizational effectiveness. The final defined structural models show a robust explanation of the organizational effectiveness variance in observed context.
Foreign direct investments present a valuable source of national competitiveness as they have attributes of capital flows provide knowledge and technology transfer from one country to target country. In this paper are used variables defined by World Economic Forum which construct Global Competitiveness Index for assessing competitiveness of the country. The purpose of the research is to examine does the national competitiveness increase enhance the level of FDI flows in transition Western Balkan economies that are not yet full members of European Union. The findings claim that larger increase in FDI per capita stocks in majority analyzed countries would have if making infrastructure more competitiveness, accelerate their technological readiness and improve innovation while certain countries should work on health and primary education and higher education and training. According to the results, there is no correlation between FDI flows and macroeconomic environment, institutions, development of financial markets, good market efficiency, labor market efficiency and business sophistication. Applying benchmark method, it is established the most competitive WB country as benchmark value for other transition countries in its neighborhood for enhancing their competitiveness, specially in the regional market. Also, it is obtained what if analysis to detect potential rise of FDI per capita stocks as a consequence of potential changes in some competitiveness variables. It is also calculated the potential increase in FDI/capita due to similar changes in different competitiveness variables.
Modern society is characterized by constant changes that are rapidly taking place and that are difficult to follow. Management of the company is forced to constantly adapt to changes, to systematically and continuously measures and compares their performance with business results of its competitors. A key condition for survival in the market is to achieve quality. Consequently, it is necessary to estimate their own competitive position and meet with examples of best practice in their own field of work, with the aim of an independent perspective for future development. Benchmarking is the process of defining own areas of business and the identification and understanding of business activities its competitors, in order to determine their own advantages and disadvantages. The objective of the company is to implement the perceived advantages of competitors in its business activities and thereby achieve a better market position. The results of the best practice analysis for the chosen destination indicate the direction which this destination should follow through creative copying an already successful and proven management and marketing models.
Many different measures of organizational effectiveness have been proposed and one, widely used, based on Quinn's competing value framework, was applied in various national contexts. The competing values framework describes organizational effectiveness as paradoxical and contradictory by nature and in terms of seemingly mutually exclusive value dimensions, such as flexibility versus control and internal focus versus external focus. The competing values framework was broadly employed to examine various organizational phenomena, such as leadership, organizational commitment, organizational culture and decision making, and thus providing universal metric for trans-organizational analyses for different levels. This study presents the research results of 150 managers' perceptions of effectiveness of Bosnia and Herzegovina's organizations according to competing values approach. Multidimensional scaling was employed. It provides qualified support to structure of the competing values framework and shows that seemingly opposite organizational effectiveness models really coexist and can be effectively managed to accomplish and fulfil planned organizational goals.
Intangible assets and knowledge are key drivers of today’s economy, called knowledge economy, as a consequence of globalisation process and information and communication technology development. Knowledge and intellectual capital became leading factors that provide basis for gaining superior performance and sustainable competitive advantage of firms in dynamic and uncertain business environments. Invisible goods based on knowledge are becoming more important in generating and successful managing businesses. The purpose of this research is to test the impact of human resources on creation of the firm or, in other words, to examine individual’s inclination toward becoming an entrepreneur in transition economy such as Bosnia and Herzegovina. While investigating the relationship between human resources and firm creation, additional social, economic and emotional factors are included in analysis. Proposed theoretical model is tested using logistic regression model to analyse a sample of 2.015 individuals in Bosnia and Herzegovina, as a participant in GEM project in 2014. Obtained results show that the amount of individual’s knowledge, skills and expertise and its capability to seek and recognize new entrepreneurial opportunities, considered as human resources owned by individual, increase probability to generate a firm in Bosnia and Herzegovina. Beside human resources, certain economic and social factors, such as work status and social perception of entrepreneurship as an attractive profession, are important for firm creation in Bosnia and Herzegovina.
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