INFLUENCE OF THE SOCIAL ENTREPRENEURSHIP ON THE DEVELOPMENT OF THE TRANSITIONAL ECONOMY AND SOCIETY

In this paper, we investigated the impact of social entrepreneurship on the development of the transitional economy. The research was carried out on the territory of Bosnia and Herzegovina (B&H). As the most featured negative side of the transition, we see an increase of social inequality and poverty. One of the ways to solve these problems is the development of social entrepreneurship. The main goal of the research is to find a model for the development of social entrepreneurship that would contribute to the development of society and the economy of developing countries. Ninety seven subjects of social entrepreneurship, from all over B&H, participated in the research. We collected data using questionnaires, and we used correlation and regression methods to analyze them. The results showed that social entrepreneurship is at a low level and that its development would contribute to the development of society and the economy. In this research, we have created a model of social entrepreneurship development and proved that social entrepreneurship could be an excellent way to solve many social and economic problems

Analysis of Performance of Venture Capital Funds in Transition Countries: An Empirical Study in Bosnia and Herzegovina

Many transition post-socialist countries still face the burden of the centrally planned economies. The new entrepreneurial society that is yet to be developed in these countries should be an association of people with pronounced individuality and different needs, with different rights and obligations. Capital markets in Southeast Europe, in recent years, become increasingly important as a leverage of the development of entrepreneurial societies. One of the most important new forms of financing is venture capital funds. These funds are especially important for the financing of start-up enterprises, which are trying to succeed utilizing modern high technologies. Since the newly formed enterprises have difficulties in getting favorable sources of financing, venture capital funds can have an important role in developing economies. In our study we focus on the current state of venture capital funds in Bosnia and Herzegovina as the representative of post-socialist transition countries. The main goal of this paper is to demonstrate the importance of venture capital for growth and development of small and medium-sized enterprises. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

AN INTEGRATED SWOT – FUZZY PIPRECIA MODEL FOR ANALYSIS OF COMPETITIVENESS IN ORDER TO IMPROVE LOGISTICS PERFORMANCES

On the question: how to react in a particular situation, the management of the company must have a quick answer. In the time of fast and huge changes in production, the management must know what resources are available in the company and what kind of environment it faces. To respond promptly to the requirements of the environment, the company must define a clear strategy for its business. To define a strategy, management must know the state of the company. From these reasons, in this research it was conducted SWOT analysis of specific company, and after that the elements of the SWOT matrix were ranked using fuzzy PIPRECIA method. This ranking shows on which element company should pay the most attention

A NOVEL INTEGRATED MCDM-SWOT-TOWS MODEL FOR THE STRATEGIC DECISION ANALYSIS IN TRANSPORTATION COMPANY

In this paper, based on the Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, a matrix of Threats, Opportunities, Weaknesses and Strengths (TOWS) was formed. It represents possible business strategies of the transport company. To choose the right plan, a model based on the integration of Fuzzy PIvot Pairwise RElative Criteria Importance Assessment (fuzzy PIPRECIA), Full Consistency Method (FUCOM) and Measurement Alternatives and Ranking according to COmpromise Solution (MARCOS) methods, has been formed. A case study was conducted in the transport company from Bosnia and Herzegovina which provides services on the domestic and the European Union market for 20 years and belongs to a group of small and medium enterprises (SMEs). The SWOT analysis in this transport company was the basis for forming the TOWS matrix, which represents a set of possible business strategies. These strategies are the basis for developing five basic alternatives. The transport company should choose the best one of them for future business. The research focuses on forming a model for choosing the best strategy by which the transport company seeks to improve its business. Decision-making (DM) is not a straightforward sequence of operations, so the harmonization of methods as well as the verification of their results, are essential in the research. This model is applicable in SMEs that make these and similar decisions. Using this model, companies can adjust their business policies to the results of the model and achieve better business results. This research is the first that allows the use of such a model in making strategic decisions

Economic analysis of the project of warehouse centralization in the paper production company

In the modern conditions, business requires constant rationalization of all activities and processes that occur in the logistics system. One of the preconditions for ensuring the competitiveness in the market is to manage the own performance. This paper presents research that relates to the project of centralization of the warehouse in the company of paper production. Currently, any production facility has its own warehouse that is, through executed decomposition, proved like a poor solution. Any project requires certain investment funds, which are in this case over half million EUR, because it is a large and complex logistics company that employs about one thousand workers. The focus of this paper is an economic analysis of the project of centralization of warehouse. The new centralized system gives better results in the comparison with the current system of decentralization. Considering the savings, which are realized by switching to a centralized warehouse system, and required investment funds, repayment period of the same is slightly less than five years, what is relatively a short period

ZNAČAJ ŠIRINE ZNANJA U PROCESU DIGITALIZACIJE SOCIJALNOG PREDUZETNIŠTVA

One of the ways to solve economic and social problems is social entrepreneurship. In today's turbulent environment, the question of survival is posed to all economic entities, including those who operate as entities of social entrepreneurship. Digitization of business is a necessary process in innovating business models. In this research, we observed the impact of the knowledge breadth on the process of digitalization of the business of social entrepreneurship entities. In order to measure the knowledge breadth, we used the plans according to which the education in the field of digitization is carried out, the number of certified and expert lecturers, the number of sources of knowledge, patents and creativity. The main goal of the research is to determine whether the knowledge breadth can contribute to accelerating the process of digitization of social entrepreneurship and thereby contribute to its development. 97 social entrepreneurship entities from Bosnia and Herzegovina (B&H) participated in the research. Data were collected using questionnaires and analyzed using correlation and regression methods. We investigated the importance of the knowledge breadth in the process of digitization of social entrepreneurship. According to the results of the research, the knowledge breadth significantly affects the application of digitization in social entrepreneurship entities.Jedan od načina rešavanja ekonomskih i društvenih problema je socijalno preduzetništvo. U današnjem turbulentnom okruženju, pitanje opstanka postavlja se svim privrednim subjektima, pa i onima koji posluju kao subjekti socijalnog preduzetništva. Digitalizacija poslovanja je neophodan proces u inoviranju poslovnih modela. U ovom istraživanju posmatrali smo uticaj širine znanja na proces digitalizacije poslovanja subjekata socijalnog preduzetništva. U cilju merenja širine znanja koristili smo planove edukacije iz oblasti digitalizacije, broj sertifikovanih i stručnih predavača, broj izvora znanja, patente i kreativnost. Osnovni cilj istraživanja je da se utvrdi da li širina znanja može doprineti ubrzanju procesa digitalizacije socijalnog preduzetništva i na taj način doprineti njegovom razvoju. U istraživanju je učestvovalo 97 subjekata socijalnog preduzetništva iz Bosne i Hercegovine (BiH). Podaci su prikupljeni pomoću upitnika i analizirani korišćenjem metoda korelacije i regresije. Istraživali smo značaj širine znanja u procesu digitalizacije socijalnog preduzetništva. Prema rezultatima istraživanja, širina znanja značajno utiče na primenu digitalizacije u subjektima socijalnog preduzetništva

ANALYSIS OF THE BRAND VALUATION BASED ON THE ASSESSMENT BY INTERBRAND, BRAND FINANCE AND MILWARD BROWN OPTIMOR

Brands are significant category in the department ofmarketing and finance of the company. They also playthe key role in the segment of consumer behavior whenit comes to decision making during the purchase. Marketingmanagers in domestic companies still do not haveenough experience in using the modern methods for estimationof the brand value. From this, the conclusioncan be drawn that the operational structure do not receivean adequate support from marketing departmentin decision making. Analysis in this work will be basedon the research of the concept of the brand value and themethodology of evaluation. The goal is to analyze advantagesand disadvantages of different methodologiesof well-known consultant agencies for estimation of thebrand value. The work consists of a few parts. Attentionis first directed towards the concept of the brand valueand the classification of the evaluation methods. It isfollowed by the analysis of necessary measuring of thebrand value in domestic practice and the current state ininternational practice. Then a more detailed analysis ofthe mode of operations for global agencies follows: Interbrand,Brand Finance and Millward Brown Optimor.Results of the empirical research will be shown throughthe comparative analysis of the values for the world’sfamous brands, which are obtained by using the mentionedmethodologies in the same time period

Application of novel DEA-SWARA-WASPAS model for efficiency assessment of agricultural products

Aim: The aim of the research was to create an original model for assessing the efficiency of production lines for five agricultural products. The purpose was to determine, based on the developed model, which production lines are efficient and which are not efficient.Methods: An original integrated model was created that includes the Data Envelopment Analysis (DEA), Stepwise Weight Assessment Ratio Analysis (SWARA) and Weighted Aggregates Sum Product Assessment (WASPAS) methods. DEA was applied as a linear programming model to determine the efficiency of five agricultural products based on eight inputs and one output. After that, SWARA was applied to determine the weight values of criteria, and WASPAS was applied to the final ranking of alternatives.Results: The results show that 2 of the 5 production lines were not efficient, and they were further eliminated from the model. To determine the final ranking of production lines for other agricultural products, the SWARA-WASPAS model was implemented. The final results show that Alternative A2 (corn) is ranked as first, i.e., the most significant (0.933). Alternative A5 (seeds) is ranked second in terms of significance (0.874), while Alternative A1 (wheat) (0.769) is in third position.Conclusion: It this paper, an original integrated model is developed, which represents the contribution of the research. In addition, the results show that the enterprise should focus mostly on the production of corn, i.e., focus its resources mostly on the production of this crop