Strategic Approaches of Entrepreneurship in the Modern Business Environment
Strategic Approaches of Entrepreneurship in the Modern Business Environment

Author(s): Slađana Stojanović, Mihalj Bakator
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Strategic approaches; Entrepreneurship; Business environment; Innovation; Competitiveness
Summary/Abstract: The modern business environment is defined by constant and dynamic changes within the globalized market. Small and medium-sized enterprises (SMEs) are increasingly competing with large corporations, creating challenges for both groups. Rapid market changes and technological advancements demand the adoption of agile frameworks, robust innovation ecosystems, and data-driven decision-making strategies. Entrepreneurship is becoming an important driver of innovation and technological advancement within enterprises, supporting competitiveness and growth. Governments, enterprises, and individuals play important roles in improving strategic entrepreneurship through policy support, innovative practices, and active engagement in sustainable approaches. Collaboration among these stakeholders is important to address evolving market demands and ensure the development of resilient, forward-looking enterprises capable of thriving in a competitive landscape. In this paper, strategic approaches of entrepreneurship in enterprises are analyzed. The main goal is to develop a theoretical model for improving business performance and competitiveness. Additionally, based on the analyzed literature and the developed model, suggestions and guidelines are proposed for improving the business performance and competitiveness of SMEs. The paper provides a strong basis for future research in this domain.

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