INFLUENCE AND IMPORTANCE OF COMPANY ACTIVITIES TO ACHIEVING MORE FAVORABLE MARKET POSITION OF SMBs BY MANAGING INTELECTUAL CAPITAL

  • Jelena Jovkić PhD candidate at Technical Faculty in Bor
  • Snežana Urošević University of Belgrade, Technical Faculty in Bor
  • Milovan Vuković University of Belgrade, Technical Faculty in Bor
Keywords: Small and medium-sized enterprises, management, intellectual capital, knowledge, competition, competitive advantage

Abstract

Sector of small and medium-sized enterprises has been recognized as one of the fundamental pillars of economic stability and economic development. Small and medium enterprises represent an important contribution to the creation of new businesses and the expansion of new business practices, they make a significant contribution to the gross domestic income, a particularly important role in the countries that are in transition. The knowledge has always meant the most important resource of a business entity, which is particularly emphasized in today’s business conditions. A strong competition existing in all markets and all business activities as well as the high extent of technology development which is at hand to all interested companies due to accessible information hinder the process of gaining a good market position. The bearer of these intangible components of business is manager’s and employee’s knowledge, which as integrated in the adequate organizational structure and with the stress on meeting customer’s needs, makes up the core of the organization’s competence and the basis for making competitive advantage. The aim of this paper is to describe and explain components of the intellectual capital as well as its significance and role in small and medium enterprises in the Republic of Serbia in today’s business conditions. The survey was conducted on a sample of 120 interviewed respondents, employees in SMEs in the Republic of Serbia, who are in positions of managers, top managers or owners of the organization and workers. The research contributes to confirm the theoretical assumptions about the importance of human resource management in small and medium-sized enterprises, which could have practical implications for finding better professional solutions in the context of the specific characteristics of small and medium-sized enterprises.

Downloads

Download data is not yet available.

References

1. Бераха, И. 2011. Мала и средња предузећа као фактор економског развоја и смањења незапослености у Србији. Београд: Страни правни живот, Институт за упоредно право.
2. Бировљев, Ј., Давидовић, М., Петровић, Р., 2011. Кредитна подршка малим и средњим предузећима у Србији. Економика предузећа, 59(5-6), pp. 288-296.
3. Бранковић-Мерџо, Ш., Ђогић, Р., Брдаревић, С., 2015. Управљање интелектуалним капиталом у функцији повећања пословних перформанси. 9. Научно-стручни скуп са међународним учешћем ,,QУАЛИТY 2015”, Неум, Б&Х, стр. 359-364.
4. Брунско, З., Сундаћ, Д., 2002. Интелектуални капитал у функцији развоја сувременог господарства. Знање - темељни економски ресурс. Ријека: Економски факултет Ријека, Свеучилиште у Ријеци.
5. Hall, R., 1992. The strategic analysis of intangible resources and capabilities to sustainable competitive advantage. Strategic Management Journal, 13(2), pp. 135-144.
6. Hunt, I., O Brien, E., 2006. SME growth through people: the role of higher education. Programme for University Industry Interface Enterprise Research Centre, Ireland: University of Limerick.
7. Itami, H., 1991. Mobilizing Invisible Assets, Cambridge: Harvard University Press.
8. Јевтић, П., Стошић, Михајловић, Љ., Крамар Зупан, М., 2016. Human capital in function of the competitiveness of importance company. XII International May Conference on Strategic Management - IMKSM2016, Бор: Технички факултет, стр. 49-59.
9. Kamu Kamukama, N., Ahiauzu, A., Ntazi, J. M., 2011. Competitive Advantages: Mediator of Intellectual Capital and Performance, Journal of Intellectual Capital, 12(1), 154-163.
10. Malhatra, Y., 2000. Knowledge Management for e-Business Performance - Advancing Information Strategy to Internet Time. The Executive Journal, 16(4), 5-16.
11. Moustaghfir, K., Schiuma, G., 2013. Knowledge, Learning and Innovation: Research and Perspectives. Journal of Knowledge Management, 17(4), 495-510.
12. Орчић, Д., Урошевић, С., 2016. Significance of the structural capital identification for the small and medium companies in textile industry. XII International May Conference on Strategic Management - IMKSM2016, Бор: Технички факултет, стр. 413-427.
13. Правдић, П., Кучинар Р., 2015. Значај управљања интелектуалним капиталом, Трендови у пословању, 1(5), pp. 11-18.
14. Сајферт, З., Ђорђевић, Д., Беђић, Ц., 2006. Менаџмент трендови, Зрењанин: ТФ Михајло Пупин, стр. 268.
15. Stewart, T.A., 1991. Brainpower: How Intellectual Capital is Becoming America’s Most Valuable Asset. Fortune, pp. 44-60
16. Stewart, T.A., 1998. Intellectual capital - the new wealth of organizations, London: Nicolas Brealey Publishing, pp. 56-59.
17. Зрнић, Д., Анђелић, Г. Б., Ђаковић, В., 2010. Критични фактори унапређења међународне конкурентности малих и средњих предузећа у Републици Србији, Анали економског факултета у Суботици, 46(23), стр. 221-231.
Published
2017-06-30
How to Cite
JovkićJ., UroševićS., & VukovićM. (2017). INFLUENCE AND IMPORTANCE OF COMPANY ACTIVITIES TO ACHIEVING MORE FAVORABLE MARKET POSITION OF SMBs BY MANAGING INTELECTUAL CAPITAL. BizInfo (Blace) Journal of Economics, Management and Informatics, 8(1), 1-16. https://doi.org/10.5937/bizinfo1701001J