engleski

Determinants of innovativeness in small-sized firms in Bosnia and Herzegovina

Innovation and innovative activities were subjects of numerous researches in which the authors emphasized the great importance of innovation in seizing competitive advantage. The purpose of this paper is to examine what determines innovation and innovative activities development within (small-sized) firms. In order to determine the key influencing factors on innovation and innovation activities in small-sized firms, the conceptual model was formed, on the basis of which the empirical research was conducted. Obtained results from the conducted empirical research, which has encompassed 154 small-sized firms in Bosnia and Herzegovina, indicate several influencing factors including owner’s/manager’s socio-demographic and psychological characteristics, external and internal innovation incentives, formal collaborations and forming of partnerships, government’s incentives and legal regulation, business performances, new product/service introduction time and positioning strategy and intellectual property effective protection methods.

innovation; innovative activities; determinants of innovative activities

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