Barriers to entry exist if new enterprises (potential "entrants") are partially or completely prevented from entering a particular industry or market. There are numerous barriers to entry, but the ...most common division is into structural and strategic. Structural barriers to entry are associated with the specifics of an industry and differ from one industry to another, or may be market related. Strategic barriers are activities which enterprises undertake while carrying out their own strategy, with the aim of deterring or preventing the entry of others in the industry or market. The purpose of the study was to investigate the presence of profitability and growth in operating revenues and the cost of labor as entry barriers, and their effect on the dynamics of entry to a particular segment of the manufacturing industry. This industry is characterized by the highest share in gross domestic product and total employment, as well as the highest share in total Croatian exports. Research was conducted on small and medium-sized enterprises within the manufacturing industry in Croatia. Regression results indicate the importance of the growth rate of operating revenue, return on equity, return on assets and average cost per employee and their impact on the dynamics of entry in the manufacturing industry. PUBLICATION ABSTRACT
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2.
Digital strategy Turuk, Mladen
International Journal of Contemporary Business and Entrepreneurship,
06/2020, Volume:
I, Issue:
1
Journal Article
Open access
The digital strategy presents a framework for digital business transformation and an inevitable requirement for achieving success in a digital world. The pace of change and innovation in digital ...businesses is not slowing down and today almost no business can ignore its digital aspect but what drives digital transformation is a strategy, not technology. Therefore, the ability to digitally reimagine the business is determined by a clear digital strategy, and the leaders able to implement it in the organization. Inertia is not the solution to uncertainty. Having a clear vision, goals and objectives help organizations to reduce this ambiguity and adapt to an everchanging digital environment. Agile outperforms the traditional approach and new, innovative organizations replace incumbents that do not adapt fast enough in a process known as creative destruction.
Competitiveness is a concept we all want to achieve, but it is very difficult to define, and even harder to implement. An important feature of competitiveness is its dynamic nature, because sources ...of competitiveness are not permanent. Competitiveness is a matter of growing interest for every country, which is concerned about the success of its industries and nations. For understanding the current economic situation, it is necessary to know he historical background because it affects the current situation and competitiveness of the economy. Competitiveness is the most commonly defined economic concept in the last 30 years. It is in the interest of every country to be competitive and that the industry is export-oriented. To be competitive in the demanding EU market and on the global market is the task of both enterprises and the economy of the Republic Croatia. The purpose of this paper is to link international competitiveness with the lack of innovative activity in Croatia. Innovation capacity and sophistication of production technology are one of the main problems of business competitiveness in Croatia. This paper researches the indicators of competitiveness and innovation index parameters that determine the position of the Republic of Croatia on the regional and the global level. The aim is to show the influence of the national competitiveness and innovation standard on entrepreneurship in Croatia.
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Social Entrepreneurship is an area of entrepreneurship and economics in general that have become more and more popular in the last 30 years across the whole globe. However, the topics related to ...social entrepreneurship came in focus in Croatia during the past years due to developing and adopting the Strategy for the Development of Social Entrepreneurship in the Republic of Croatia for the period from 2015 to 2020. This paper will provide an overview of the relevant definitions of social entrepreneurship, social entrepreneur and social enterprise (with reference to the Strategy). The aim of this paper is to analyse the strategic framework for development of social entrepreneurship in Croatia and finally, to propose the direction of development of social entrepreneurship in Croatia in the future.
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Access to Finance – Experiences of SMEs in Croatia Kolaković, Marko; Turuk, Mladen; Turčić, Ivan
Zagreb International Review of Economics & Business,
03/2019, Volume:
22, Issue:
1
Journal Article, Conference Proceeding
Peer reviewed
Open access
Access to finance for small and medium enterprises still represents one of the biggest problems that entrepreneurs face when launching their business or when they want to enhance their production ...capacities in other stages of the enterprise life cycle. Entrepreneurs generally use informal sources of financing when starting their business (3F: family, friends and fools) if they do not have other available sources of financing. There is a common classification in the literature that divides the sources of financing to: informal investors, debt financing, equity financing, government support programs and the entrepreneurs’ own sources. The purpose of the survey conducted for this paper is to determine the sources of used finance of Croatian SMEs and the main problems that SMEs encountered while accessing finance. The second main goal of this article is to identify future needs for financing with potential financing problems that may occur. We gathered data from Croatian SMEs about the sources of funding used over the past three years and about the funding sources that they intend to use in the next three years. In last part of the paper we analyze the results from the survey and from that draw the implications for policy makers and market participants.
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Succession is one of the most important research topics in family business. The theoretical part of this paper is about identifying the most important factors that influence a potential successor's ...decision to join a family business. The factors are considered from four different perspectives: Trends in society, external factors at institutional/cultural level, factors at family level and factors at individual level. In the empirical section, the results of a survey of students with family business background in Croatia are presented, which provides information on the extent to which students with family business background in Croatia are interested in succeeding their family business. The data was collected as part of primary research on the career plans and intentions of students with a focus on family business succession through an online survey. The survey was conducted in February and March 2023, and the respondents were the students from different faculties in Croatia. The number of students whose responses were included in the analysis is 52, spread across all years of the study. The students who participated in the survey had one or both parents owning a family business. The results show that students ranked high income and achieving their dream as the most important career goals, while they also considered a high position and being able to be their own boss important. Continuing the family tradition was rated with a neutral average score. Most students see themselves as employees in a public/private company after graduation, while about one third of them plan to start their own business either alone or with business partner(s), while about one fifth of them plan to be employed in the family business. The percentage of those who plan to succeed the family business was almost the same for both business and non-business students (21%). The most frequently cited reason for not intending to take over the family business was a lack of interest in the business activity and the industry in which the family business operates.
Transition from the socialist to market economy required, in one of its stages, a change in ownership structure and privatisation of enterprises. Privatisation developed differently in former ...socialist countries: in some countries, the process has been completed fully, while in other countries, it has been completed only partially. In addition to differences inthe dynamics of privatisation across countries, privatisation evolved differently across sectors within a single national economy. Moreover, the birth of the Croatian state and a shift towards the market economy evolved in specific conditions due to the Croatian War of Independence, which placed an additional burden on the transition process which is difficult as it is. This paper examines the privatisation of hotel industry in Croatia, its dynamics and its results in the light of two facts. Firstly, tourism represents a major driver of economic growth in Croatia, and secondly, the resources available within this sector are very specific. The paper therefore evaluates the justification of privatisation by studying various facets of economic performance among privatised and nonprivatised enterprises, e.g. their level of productivity and structure of debt, with special emphasis on the performance of mixed enterprises. The study results indicate a far better performance of private firms in relation to state-owned enterprises. More precisely, better economic performance is noticed in enterprises where state holds minority ownership interest than in enterprises where state holds majority ownership interest.
Mergers and acquisitions (M&A) represent one of the most common ways for firms to achieve non-organic growth, and one of the main stages in the typical M&A transaction is due diligence of the target ...company. The aim of this paper is to provide a guideline for conducting due diligence process in the digital environment. After a brief introduction on the nature, purpose and elements of the due diligence, the paper elaborates various risks, and psychological and contextual hazards often occurred during due diligence process. Special attention has been paid to the elaboration of the role and importance of the digital due diligence as a new concept in today’s contemporary ‘digital’ economy. The outcome of this paper is to provide a comparison between ‘traditional’ and ‘digital’ due diligence, digital due diligence methodology, and easy understandable check list for conducting the process of digital due diligence.
Implementation of the Bologna process in higher education system significantly influenced the syllabuses as well as the structure of course delivery, such as changing the schedule of courses, ...teaching methods and assessment. In accordance with the objectives of Bologna, courses are designed to be performed in one semester, which makes a special problem for more complex courses such as theoretical economics courses, which by their content and extent were designed to be performed in two semesters in the previous period. Given their importance for the education vertical, reduction of the content would mean reduction of the quality of studying on faculties of economics. As the reform was on the Croatian universities applied in different ways, the research conducted on the universities of Zagreb, Split, Rijeka and Pula examines the most efficient one, as well as whether the implementation of the Bologna generally improved the quality of studies in relation to the pre-Bologna programs, considering courses of theoretical economics. PUBLICATION ABSTRACT
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Motivacija predstavlja čimbenik koji izaziva određeno željeno ponašanje, pri čemu različiti čimbenici određuju željeno ponašanje kod različitih tipova promatranih ekonomskih subjekata. Cilj rada je ...steći dublje razumijevanje glavnih razlika motivacije poduzetnika i intrapoduzetnika. U radu je pružen teorijski prikaz poduzetnika i intrapoduzetnikate su navedene najznačajnije sadržajne teorije motivacije. Također, u radu su prikazani različiti čimbenici motivacije koji su korišteni u istraživanju. Od ekstrizičnih motivacijskih čimbenika ispitivali su se novčana nagrada, izazov i trening, dok su se intrizični čimbenici ispitivali kroz moć, pripadnost i priznanje. Kako bi se ustanovilo navedeno provedeno je kvalitativno istraživanje te je u namjernom uzorku metodom polustandardiziranog intervjua ispitan utjecaj intrizičnih i ekstrizičnih čimbenika na motivaciju poduzetnika i intrapoduzetnika. Ustanovljeno je kako su poduzetnici više motivirani novcem i moći u usporedbi s onim što motivira intrapoduzetnike, a to su izazov i priznanje. Što se tiče treninga, pripadnosti i uspjeha, ti su faktori bili jednako motivirajući za poduzetnike i za intrapoduzetnike.
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