TOP-MANAGEMENT ACTIVITIES IN TRANSITIONAL ECONOMIES: A FACTOR-ANALYTIC STUDY FROM BOSNIA AND HERZEGOVINA

Abstract

The role of top management in transitional economies, such as Bosnia and Herzegovina, is particularly critical due to the complexity of strategic and operational decision-making within unstable institutional environments. The aim of this study was to identify and structuralize the key activities of top management in enterprises operating within this context. A quantitative methodology was applied, based on exploratory factor analysis (EFA) of data collected through a structured Likert-scale questionnaire administered to a sample of top managers across diverse sectors. The empirical framework encompasses both domain-specific analyses (marketing, strategy, and human resources) and a comprehensive, integrated analysis of overall managerial latent dimensions. The findings reveal distinct factor structures within individual domains, while the integrated model yields a robust framework highlighting five core managerial priorities, among which organizational justice emerges as a pivotal dimension. This research contributes to a deeper understanding of leadership practices in transitional settings, addresses a prominent gap in the post-socialist management literature, and offers actionable insights for improving corporate performance.