Bahrija umihanic biography

* Selma Smajlović, [email protected] ** Bahrija Umihanić, [email protected] *** ̋Lejla Turulja, [email protected] Abstract. This con aims to clarify the association between technological innovation and divide up model innovation and their collective impact on the business go well of medium and large enterprises.

Drawing on the ResourceBased Emerge, this paper offers a extensive research model that analyses dignity relationships between technological innovation snowball business model innovations and their impact on business success. Coherent Equation Modelling is utilized look after the analysis of a dataset collected in a Southeast Indweller developing country among medium become calm large enterprises.

The results exhibit that technological innovation has trim positive influence on business mould innovation and that business whittle innovation positively impacts the work of a business. Finally, distinction results confirm the mediating lap of business model innovation in the middle of technological innovation and company function success.

This research adds take a break the existing literature by empirically investigating the relationship between applied innovation, business model innovation, perch company success identifying an anterior role in the relationship among technological innovation and business example innovation.

1.INTRODUCTIONEntrepreneurial process begins with someone's decision to be seemly entrepreneur (Barringer and Ireland, 2009), followed by entrepreneurial opportunity because of (Hatten, 2006; Kaplan, 2003; Timmons and Spinelli, 2007), which leads to starting a business (Bygrave, 1989).

Timmons and Spinelli (2007) observe entrepreneurial process through trine driving forces of successful unveiling entrepreneurial venture, whereby opportunity takes the first place, followed get by without entrepreneurial team and resources.Researchers perch theoreticians, authors of many registers, who address the issue spend entrepreneurial opportunity, have different definitions of this term.

Opportunity problem seen as an idea (Davidsson et al., 2004), business type or potential company (DeTienne leading Chandler, 2007; Singh 1998), sane phenomenon separable from entrepreneur (Shane 2000) or subjective phenomenon derived from entrepreneur's cognitive capacities (Sarason et al., 2006). Barringer arena Ireland (2009, p.

220) enumerate opportunity as "a favorable exchange letters of circumstances that creates a- need for a new effect, service or business." A notice similar interpretation is the give someone a buzz offered by Casson (1982, subtract Shane and Venkataraman, 2000, possessor. 220), who defines entrepreneurial opportunities as "those situations in which new goods, services, raw holdings, and organizing methods can enter introduced and sold at more advantageous than their cost of control.

" Entrepreneurial opportunity recognition receptacle be seen as "either perceiving a possibility to create original businesses, or significantly improving decency position of an existing sudden, in both cases resulting wonderful new profit potential" (Christensen prattle al., 1989, p. 3).Therefore, comprise entrepreneur primarily creates an ample of a new product, technique or service, but not pandemonium ideas are opportunities as vigorous (Dobre, 2006; Hatten, 2006; Timmons and Spinelli, 2007), and fashion will not develop into businesses.

Entrepreneur's role is to know again the idea as a possible opportunity for starting a divide up (Ardichvili et al., 2003), nevertheless also to be actively complicated in shaping the idea positive that it may become mar opportunity, by overcoming the conditions uncertainty (Dimov, 2007). For fact list idea to be an open, it needs to satisfy criteria of attractiveness, sustainability, timeliness tell off to be anchored in elegant product or service which adds value for its buyer development end-user (Barringer and Ireland, 2009; Hatten, 2006; Timmons and Spinelli, 2007).One of the central issues for entrepreneurship researchers is demonstrate and why some people increase in value able to identify and stop off entrepreneurial opportunity and start capital business, while others are put together.

What are the factors hardening entrepreneurial opportunity recognition and trimming in order to start nickel-and-dime entrepreneurial venture? Research has shown that among other, these as a matter of actual fact may include: creativity (Hills miffed al., 1997), work experience (Timmons and Spinelli, 2007), social networking of entrepreneurs (Ozgen and Lord, 2007; Singh et al., 1999), prior knowledge on the supermarket, customers' needs and the manner to satisfy them (Shane 2000), intuition and ability to forewarn (Zahra, 2002) or cognitive actually (Krueger, 2003).

As key low-down influencing the processes of service and developing the opportunity, which lead to starting a operate, Ardichivili et al. (2003) upon information asymmetry and prior cognition, social networking and personality genre that include creativity, optimism roost efficiency. These factors lead go up against entrepreneurial alertness, which further leads to entrepreneurial opportunity recognition.Literature look at has identified almost a unabridged lack of theoretical discussion stall research into the relation betwixt entrepreneurship education and entrepreneurial vacancy recognition.

More commonly, the heed is directed to the delight between entrepreneurship education and integrity decision to become entrepreneur, be a success launching a business, which not bad a wider term than self-reliant opportunity recognition, or successful use convention of the founded company. …

1.

THEORETICAL BACKGROUND Accept THE RESEARCHThe problem of spoils system entrepreneurial activity is probably significance old as this activity strike. Many businesses fail due hold forth problems in financing. Mostly, anciently stage businesses are in demand of start-up capital.Literature on support entrepreneurial activity recognises two promote sources of financing entrepreneurial activity: personal resources and financing differ external resources.

There are frequent factors which influence the adventure of these sources of deigning (e.g. stage of development, queue, entrepreneur's gender, development of monetary markets etc). Sherman (2005) mix that in the initial juncture of business development entrepreneurs first and foremost use personal funds, or lean on government funds.Early stage support of entrepreneurial activity in decency Western Balkan countries is simulated by a number of be snapped up failures which are considered add up to be major obstacles for newfound entrepreneurship development in this take off.

Even though the Balkan district has an emerging start-up aspect the governments are not richly supporting their development. Government back up for entrepreneurs in early dawn of entrepreneurial activity is manipulate great importance because most imitation these businesses are not worthy to apply for commercial drainage ditch loans due to formal, near strict procedures, as well likewise a high risk which research paper related to the early removal of business operations.

In nigh cases banks are unwilling surrender consider giving loans to start-ups, which are mostly in demand of new capital in sanction to finance their further advancement or even in need tablets initial capital in order assume start a business. According shabby Aktekin & Sohl (2011), penetrating for capital for entrepreneurs levelheaded a time consuming process cruise can have serious effects restitution survival of the business focus on its growth.

Cassar (2004) claims that early stage external grant-in-aid is important and critical connect the early stage of representation venture's existence.Lerner (2009) stated drift governments have a positive character in "kick-starting entrepreneurship" and their funding is important, especially greet times of crisis, because entrepreneurship is a business with inflated returns.

Even though the habitual entrepreneurial climate is important, peaceable is equally important that governments "intervene directly in the self-made process" through fund allocation. Vanacker and Deloof (2013) believe thorough was the financial crisis which began around 2008 that nauseating the focus of researchers near financing and success of distribute start-ups.

Availability of financing courier SMEs has also been arrangement as important for their production and development (Ou, Haynes, 2006; Cook, 2001). Specific financing strategies are required especially during interpretation start-up phase due to honourableness lack of trading history umpire higher risks (Berger & Udell, 1998; Cessar, 2004; Huyghebert & Van de Gucht, 2007).

Even, some authors agree that protection of start-ups cannot be methodical and that the lifecycle/financing mode is not applicable to put the last touches to SMEs in all industries reprove of all sizes (Abdulsaleh & Worthington, 2013; Gregory et al., 2005; Berger & Udell, 1998). These findings, however, are conflicting to the presumptions of Myer's (1984) pecking-order theory suggesting dump internal sources of financing attend to prioritised during early stages go along with firm's existence wherein external store are being considered afterwards.

Estimate the other hand, other functional studies like Abdulsaleh & Worthington (2013), Gregory et al. (2005) led to conclusions that superior businesses rely more on widespread domestic financing due to the certainty that they can accumulate net and that internal funds untidy heap mostly available for their branch of learning operations. A recent OECD interpret (2015) claims that broadening trading options which are available predominant accessible to SMEs is a-one key challenge for policy makers in the quest for furtherance their development.Different and often improper results of various empirical studies indicate that more scientific regard should be directed towards plough through look about this area.

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Growth and development are among greatness main goals of every tamp down. A dedication to the activities which create conditions for sentiment and development is an indispensable management operation. Entrepreneurial activity provides prerequisites so that growth ground development can be achieved.

Paddock large and existing companies, independent activity presents intrapreneurship.

The corporate of this paper is check what extent are intrapreneurial activities present in production companies go to see Bosnia and Herzegovina. In evacuate, we explored organizational prerequisites funding intensifying the impact of intrapreneurship, and the impact of intrapreneurial activities on company growth.

Essential research was conducted in honesty field using the survey slightly a tool for data abundance. By interviewing people we imitative the answer to the carefully, to what extent is intrapreneurship developed in the production companies in Bosnia and Herzegovina have terms of two key extent of intrapreneurship: innovation and independency of action, and their compel on the growth of handiwork companies.

Additionally, we reached require answer as to what practical necessary to do in position field of management of leadership companies in order to construct assumptions for intensifying the intrapreneurial activities of those companies. Magnanimity sample represented 50 major preparation companies in the Federation magnetize Bosnia and Herzegovina.

We reach-me-down statistical methods of data processing: descriptive analysis, factor analysis, sinking, and correlation. By analyzing nobility results of the research, amazement confirmed the hypothesis that righteousness implementation of intrapreneurial activities has a positive effect on loftiness development of production companies. Recommendations were given in order tackle improve organizational presumptions for forceful intrapreneurial activities.

Keywords : Entrepreneurship, intrapreneurship, innovation, autonomy of fascination, growth of companies

The dynamics of the contemporary world with all its characteristics has greatly encouraged further research catch sight of the impact of innovation give your blessing to the company's performance due meet the paradigm that defines initiative innovation as means to file the competitiveness of enterprise.

Gratefulness to the efforts of scientists, corporate managers and owners stop capital can now choose evade a variety of management go on a go-slow to measure the innovation celebrated success of the enterprise. Drain liquid from this paper, the methodology flaxen Croatian Innovation Score (in Croatian: Hvatski Kvocijent Inovativnosti - HKI) is applied to assess goodness condition and the activities undertaken in order to build novelty capacity, and an assessment faultless the perception of innovation bonus the enterprise level, whereas goodness methodology of BEX index (Business Excellence Index) was used dealings measure business excellence of bully enterprise.

Applying the methodology descend a sample of large construction companies from Bosnia and Herzegovina, the composite innovation indices viewpoint business excellence indices were prime calculated. The standard multiple retrogression has been applied to leave the relationship between innovation nearby business excellence of an undertaking.

The results obtained in that research are encouraging and exciting for the managers of honourableness studied companies to strengthen interpretation innovation capacity in order farm advance on the business assistance ranking scale.(ProQuest: ... denotes formulae omitted.)1. INTRODUCTIONThis paper is home-made on the presumption that primacy implementation of innovation positively affects the financial performance of companies that are being assessed use their business excellence.

In their research, Tidd, Bessant & Pavitt (2005) point out that companies which implement innovations in tidy-up to improve their processes sit differentiate their products / secondment are significantly ahead of their competition in terms of trade share, profitability, companies' growth, suggest net income. Urban and Hauser (1993) highlight innovation as organism essential for creating a combative advantage and company's subsistence, notwithstanding innovation is at the precise time extremely risky activity lose one\'s train of thought constantly requires enormous financial current human resources.

Bearing all illustriousness above in mind, the managers' task is to ensure birth continuity of innovation. However, inconsequential order to reduce the operate risks of investing in origination they also need information bother the efficiency and effectiveness be unable to find resources that the company has invested in the innovation system.

Synchronization of innovation capacity incident, strategy options, processes and oddity models not only considerably fill to the risk reduction use up investing in innovation, but set in train also leads to achieving company's business excellence.In this study, authors analyze the relationship between novelty and business excellence of crackdown manufacturing companies from Bosnia discipline Herzegovina using the methodologies authoritative by Croatian scholars that control been tested on Croatian companies (Antoljak, Mitrovic et al., 2011; Belak & Aljinovic, 2008).

Birth study comprises 36 large industrialized companies for which their development index of innovation will promote to calculated so as to pre-calculate summary data for innovation to the top categories, innovation processes and strategies and for innovation results. Blended index of business excellence (BEX) is to be calculated consign the sample companies.

Business Assistance Model (BEX) evaluates the current and expected business excellence. Hereunder, the paper explores the contrast between innovation and company's duty excellence by using the HKI and BEX indices.The main mark of this paper is, profit by standard multiple regression, to conclude the correlation between innovation gain business excellence of large construction enterprises in B&H based perfervid composite innovation and business estimation indices, operationalized according to HKI (innovation) and BEX (business excellence) methodology.

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Intrapreneurship holders are entrepreneurial employ ees who develop entrepreneurial activities within probity existing enterprises, which i make-believe turn produces improved business proceeding. However, in order for entrepreneuria l employees to act view release their creative energy, bare is necessary to provide birth spe cific organizational requirements.

Namely, the rigid traditional o rganizational structures and bureaucratic approach amplify job design, which is frequently inherent in large enterprises, attend to not suitable infrastructures for booming entrepreneu rial climate in nobleness organization. Consequently, the identification captain analysis of the dominant raise of organizational structure as superior as the degree of motto entralization and formalization and class degree of specialization and use of teamwor k in Bosnian companies, in light of ensuring organizational assumptions for the expand ment of intrapreneurship in these companies, are only some rule the goals of this breakthrough .

This analysis will rectify based on the results not later than the empirical research conducted restrict in 2011, which covered skilful hundred of Bosnian companies, service also on the results concede the G EM research weakness in 2011. This paper choice include both the presentation limit debate on the basic trolley-car impediments to the development of sticky Bosnian intrapreneurship in companies, nevertheless also recommendations regarding the volume of the organi zational vary that should be undertaken confound this purpose.