KNOWLEDGE-BASED ORGANIZATIONS – A CHANCE TO INCREASE THE COMPETITIVENESS OF THE ECONOMY OF BOSNIA AND HERZEGOVINA

Abstract

The paper deals with the competitiveness of the economy of Bosnia and Herzegovina, the key causes of non-competitiveness and measures for its increase. According to the competitiveness index, Bosnia and Herzegovina is ranked 107th out of 137 countries surveyed (World Economic Forum, 2017-18). Import coverage by export is 58%. Bosnia and Herzegovina has recorded a decline in competitiveness in all areas compared to previous reports. GDP per capita is 29% of the EU average 28, according to official statistics, other authors’ research and our own research in Bosnia and Herzegovina. Among the most important weaknesses of the companies are the lack of entrepreneurial competencies and training programs, both employees and managers. In developed economies, knowledge is the main resource. It is a source of competitive advantage and a sine qua non survival on the market. This paper demonstrates the direct interdependence of learning in the organization and knowledge management and competitiveness of companies. Competitiveness can be significantly increased by defining and implementing training and education programs.

Keywords

• competitiveness
• training and education
• entrepreneurial competences
• knowledge management