THE ROLE OF MANAGEMENT COMPETENCIES IN THE STRATEGIC MANAGEMENT OF LOCAL DEVELOPMENT IN BOSNIA AND HERZEGOVINA
THE ROLE OF MANAGEMENT COMPETENCIES IN THE STRATEGIC MANAGEMENT OF LOCAL DEVELOPMENT IN BOSNIA AND HERZEGOVINA

Summary/Abstract: The implementation of a development strategy, which represents a key strategic document, directly depends on effective managerial management and the necessary management competencies. The fact is that the requirements of market dynamics, as well as the perception of efficient behaviour, are constantly modified. In that sense, the strong management knowledge and competencies that are possessed by managers in the process of strategic management of local development are powerful tools for creating effective changes in their behaviour. Competence profiles inevitably become obsolete, and the need for continuous adaptation and development of new managerial skills becomes imperative. Within this research, which examines management competencies in the context of the strategic management of local development, we sampled the opinions of 302 respondents from 21 local communities in Bosnia and Herzegovina, which represents 15% of the total number of local communities in the country. The data were established through a detailed and comprehensive questionnaire and then processed through the methods of descriptive and factor analysis, then analysis of variance and multiple regression analysis. The research was carried out very clearly and indicates a strong interdependence between managerial competencies and the strategic management of local development. The final results and insights of this research could be used as guidelines for optimizing management strategies with the aim of further improving local development.

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