JOURNAL OF CONTEMPORARY ECONOMICS

The role of entrepreneurial networks in overcoming export barriers of small and medium-sized enterprises from developing economies

Lidija Mitrašević — Mon, 01 Apr 2024 00:00:00 +0200

The role of entrepreneurial networks in overcoming export barriers of small and medium-sized enterprises (SMEs) varies depending on the development level of the domestic institutional environment. So far relevant literature has been dominantly focused on the effects of participation of SMEs from developed economies in different forms of domestic and international entrepreneurial networks. However, in the last two decades, the SMEs from post-transition economies (PTE), namely developing economies, have become more involved in international business which is an important challenge for them because of resource scarcity and a long period of international isolation. Starting from the entrepreneurial perspective of internationalization based on accelerated internationalization models, the paper considers modes, motives, benefits, and obstacles of establishing alternative management structures - SME entrepreneurial networks in institutional discontinuity conditions. The research aim is to indicate the importance of establishing network connections as a modus for overcoming resource and institutional export barriers of SMEs from PTE. The research is based on the analysis and synthesis of relevant literature in the field of international entrepreneurship and network approach to the internationalization of SMEs in the context of PTE. Based on conceptual analysis and the results based on previous research, pragmatic recommendations for export SMEs from PTE regarding the choice of appropriate participation modality in entrepreneurial networks are stated.

Individual and social influence on students’ attitudes towards business ethics

Ana Marija Alfirević, Miljana Talić — Mon, 01 Apr 2024 00:00:00 +0200

Business ethics, as a content of formal higher education, occupies an important place in the curricula of higher education. Based on previous research results, it is essential to determine which factors influence students' attitudes and behavior in adopting the principles of business ethics and social responsibility. This paper investigates a series of individual and social influences on students' attitudes toward business ethics. Using a sample of 211 students from the University of Banja Luka, Bosnia and Herzegovina (B&H), and the University of Niš, Serbia, we empirically test factors, influencing students’ attitudes toward business ethics and social responsibility. The paper employs statistical methods of descriptive analysis, clustering, and statistical testing of mean differences using non-parametric tests (Mann-Whitney U and Wilcoxon Z). After analyzing the empirical results, recommendations are given for improving educational programs and adopting the principles of business ethics and social responsibility in business. Additionally, recommendations are provided aimed at public authorities in creating public policies that would strengthen the focus of young generations on business ethics.

In a Search for Contemporary Growth Drivers: Does Public Healthcare Entrepreneurship Affect Economic Growth?

Jelica Rastoka — Mon, 01 Apr 2024 00:00:00 +0200

Entrepreneurship has been long recognized as an essential driver of economic growth. It is widely accepted that entrepreneurship increases innovation, firm formation, employment, and overall GDP. Despite the increasing research on both public entrepreneurship and entrepreneurship in healthcare, these different research areas have not been combined that much. To fill this research gap, this paper analyses whether public healthcare entrepreneurship influences economic growth. This study exploits the WHO Global Health Observatory database approximating various dimensions of entrepreneurship by specific aspects of compliance with international healthcare regulation. The study uses data for 170 countries from 2010 to 2019. Using the fixed effect panel setting, it tests whether improvements in public healthcare entrepreneurship (PHE) affect a country's economic growth. The results suggest that higher entrepreneurial orientation in public healthcare is associated with larger effects on output per capita, which is channelled through productivity. However, after reaching certain level of PHE development, the contributions to growth start diminishing. The findings from this paper produce several implications. First, by exploring the nexus between public entrepreneurship and healthcare entrepreneurship it introduces the concept of public healthcare entrepreneurship explaining its theoretical and empirical importance. It further provides empirical and quantitative support to the view that developing public healthcare entrepreneurship plays a role in achieving a higher output per effective worker. Thereby, this study provides evidence of a non-linear relationship between public healthcare entrepreneurship and growth. Finally, given the statistical and economic significance of the results, these findings motivate policymakers to consider developing policies that guide developing entrepreneurial orientation within public healthcare. We believe this is possibly the first study that considers entrepreneurial orientation withing a public sector into the economic growth discussion.

The influence of organizational culture and management on innovativeness in the business of organizations

Slavica Dragišić — Mon, 01 Apr 2024 00:00:00 +0200

Innovations have influenced organizations to change and adapt ways of working, functioning, and the entire concept of business thinking, which turns in the direction of finding innovative solutions and performing tasks. Innovation in the organization's business requires adaptation of the organizational culture and way of managing the organization. One of the key factors in encouraging a company's innovativeness is the organizational culture, which can have a significant impact on the adoption of innovation as a company value. Management, as an integral part of the organizational culture in each company, defines the way of managing innovations and processes, which, if properly defined and managed, can have a significant impact on the organization's business. This paper tries to find an answer to the question of whether and to what extent the organizational culture and management of the organization influence its business. The research aims to examine the relationship between the organizational culture and management of the organization on the one hand, and its innovation in business on the other. For this purpose, the collected literature was analyzed, and based on that, the relationship between organizational culture, management, and innovation was defined, as well as their influence on implementing innovative solutions and ways of doing business in organizations. The research results can be further used as guidelines for more extensive research.

Comparative analysis of social entrepreneurship in developed countries and Bosnia and Herzegovina

Irena Đalić, Živko Erceg — Mon, 01 Apr 2024 00:00:00 +0200

To mitigate the consequences of the social and economic crisis caused by the coronavirus pandemic, an approach through socio-economic activities is needed. It is necessary to use all available resources as generators of employment and new values. One such model is precisely social entrepreneurship. This paper aims to compare the level of development of social entrepreneurship in developed countries and Bosnia and Herzegovina (B&H) to get a picture of the importance of social entrepreneurship for overall economic and social development. In this paper, we analyzed social entrepreneurship in developed countries and B&H. Through this comparative analysis, we have established that social entrepreneurship is of great importance for economic and social development and that a lot still needs to be done for the development of social entrepreneurship in B&H.

Science Mapping the Research of Business Process Management: Patterns and Implications for Comparable Information Technology Fields

Ivana Ninčević Pašalić, Tea Mijač — Mon, 01 Apr 2024 00:00:00 +0200

Business ethics, as a content of formal higher education, occupies This paper maps the research and maturity of the Business Process Management (BPM) scientific field by using existing literature reviews and bibliographic methods to formulate generalizable patterns and implications, which could be proposed for comparable, multidisciplinary Information Technology (IT) fields. By applying text mining to the corpus of BPM conference and journal papers, systematically selected from Scopus, generalizable drivers of BPM evolution and maturity are determined, including the proposal of implications for comparable IT fields. Results showed four literature clusters, which relate reasonably well with the BPM lifecycle and PDCA/PDSA cycle concepts. BPM and comparable research fields seem to be driven by the maturing of technological capabilities and organizational acceptance in the sectors in which they are heavily applied. This study comprehensively analyzes BPM journal articles and conference proceedings using bibliometric analysis to provide new research directions.