Application of Macroeconomic Managerial Model in the Management of the Development of Bosnia and Herzegovina Cover Image

Primjena makroekonomskog menadžerskog modela u upravljanju razvojem Bosne i Hercegovine
Application of Macroeconomic Managerial Model in the Management of the Development of Bosnia and Herzegovina

Author(s): Elvir Čizmić, Kanita Imamović-Čizmić, Kenan Crnkić
Subject(s): Economy
Published by: Ekonomski fakultet - Univerzitet u Zenici
Keywords: economic policy; entrepreneurship; macroeconomic multiplication; clustering model; macroeconomic strategic map

Summary/Abstract: There are different models of economic theory and policy that were, through history, developed by different theoreticians of economic and business thinking, while their application in practice showed that they generated extraordinary economic and business effects. A compatible and simultaneous application of different models represents a prerequisite for an economic development of national economies and businesses. They represent inseparable categories, and they are correlated and supported in mutual interaction. A macroeconomic multiplication in practice cannot generate effects systematically without its implementation through the business model of clusters and vice versa. It means that without a systematic model, which will embrace and bundle all competition advantage of a national economy, including optimal harnessing of human, material, raw natural and other resources, one cannot expect sustainable economic development and growth of a national economy, or functioning of business companies in a qualitative way within it. Bosnia and Herzegovina, as a small and open economy, has to harness all advancement of economics and business sciences and ensure their systematic application in practice. Despite the fact of a high administrative complexity of Bosnia and Herzegovina, regular and systematically implicated contemporary models of economic policy and business models can generate very good results even within a short or midterm period of time. In any case, the worst thing is to let things go without control and do nothing, given that any problem left to be solved alone gets worse in time. In this paper, evidence is presented that support the economic development of Bosnia and Herzegovina, as well as a better performance of companies that apply certain economic and business model correlating with economic policy and development of small and medium enterprises. Additional possibilities of interactive harnessing of those models within other industrial branches are going to be presented, having in mind that a simultaneous use of this models generates very good results in a macroeconomic, as well as operationalbusiness sense.

  • Issue Year: 2012
  • Issue No: 3
  • Page Range: 9-27
  • Page Count: 19
  • Language: Bosnian