Adaptability of companies in the Republic of Serbia: Empirical research

Abstract

In an era of constant change in all spheres of business, an essential factor in the survival of a company is monitoring developments in the region, rapid response to current trends and anticipating future market developments. In this way, companies become more successful and have more proactive control of their future. The aim of paper was that through empirical research, did on the model of Denison, shows the degree of adaptability of enterprises in the Republic of Serbia, to identify the factors that influence its development and check the premise that innovation is an essential factor of adaptability. Difference in adapting to changes in domestic and foreign companies is also analyzed. The results showed that companies in the Republic of Serbia still need to work on improving the adaptability, that the certain aspects of adaptability are more present in foreign than in domestic companies and that innovation is the main factor of adaptability. The significance of the results is in determining the way of improving the functioning of companies in the Republic of Serbia, especially of domestic companies, which after a period of transition, trying to integrate successfully into the European and world economy.

Monitoring Consumer Needs in the Function of Making Effective Strategic Decisions Given on the Example of the “Sedmica Plus” LLC Travel Agency

“…Research on the adaptability of companies in the Republic of Serbia [14] has shown that the average adaptability grade is 3.50 which is the value slightly higher than grade 3 described as "neither agree nor disagree" and lower than grade 4 described as "mostly agree". This shows that companies in Serbia should work on the adaptability in all business areas in order to respond to changes in a better way.…”

“…Generally speaking, most authors agree on the four main pillars of competitiveness: quality, innovations, customer relationship and the economics of scale [16]. This is why it can be said that an organization that in the 21 st century brags about its consistency in doing business, commonality of its products or status quo, is more in the period of stagnation than that it is successful and stable [17].…”