STRATEGIC MANAGEMENT IN THE FUNCTION OF ENTERPRISE SURVIVAL AND ECONOMIC DEVELOPMENT OF BOSNIA AND HERZEGOVINA IN CONDITIONS OF COVID-19

Abstract

The focus of the paper is on the analysis of the importance and impact of strategic management and strategic decision-making on the survival, recovery and exit from the crisis of companies in Bosnia and Herzegovina, formed under the influence of coronavirus COVID 19. Many companies in Bosnia and Herzegovina were unprepared, not having a strategy at all. The aim of this paper is to point out the importance of strategic management and general strategic thinking in order to survive the companies of Bosnia and Herzegovina in crisis. The methodological concept of the research includes the method of estimating the proportion of the basic set on the basis of large samples, the method of comparative analysis, the method of deduction and the method of statistical analysis. The results of the research show that companies that have a strategy and manage strategically endured the crisis more easily. The results show a direct connection between strategic management - overcoming the crisis and recovery or growth and development of enterprises, which affects the economic development of Bosnia and Herzegovina. Such companies found a way out of the crisis more easily. Strategic management has not even led to the crisis some of them