THE COVID-19 CRISIS IMPACT ON THE BUSINESS OF COMPANIES IN BOSNIA AND HERZEGOVINA

Abstract

The research in this paper aims to examine the types and usefulness of the measures implemented by Bosnian companies to protect themselves from the COVID-19 crisis. All business entities, especially small businesses, faced hardships in performing operational activities and severe financial problems during the crisis. Their managers reacted differently to the consequences of the pandemic outbreak. A survey was conducted among Bosnian companies for research purposes, and its results indicated that defensive and innovative strategies were used equally to maintain business activity. The support of state institutions at all levels played an important role in cushioning the negative impact. Nevertheless, the innovative activities of the company, accompanied by the business digitization were even more significant.