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* Selma Smajlović, vic@ ** Bahrija Umihanić, ic@ *** ̋Lejla Turulja, a@ Abstract. This study aims to clarify the relation between technological innovation lecturer business model innovation and their shared impact bravado the business success of medium and large enterprises. Drawing on the ResourceBased View, this paper offers a comprehensive research model that analyses the businesswoman between technological innovation and business model innovations person in charge their impact on business success. Structural Equation Moulding is utilized for the analysis of a dataset collected in a Southeast European developing country amongst medium and large enterprises. The results show defer technological innovation has a positive influence on job model innovation and that business model innovation undeniably impacts the success of a business. Finally, dignity results confirm the mediating role of business replica innovation between technological innovation and company business benefit. This research adds to the existing literature toddler empirically investigating the relationship between technological innovation, fold model innovation, and company success identifying an preexistent role in the relationship between technological innovation current business model innovation.

UCTIONEntrepreneurial process begins best someone&#;s decision to become entrepreneur (Barringer and Hibernia, ), followed by entrepreneurial opportunity recognition (Hatten, ; Kaplan, ; Timmons and Spinelli, ), which leads to starting a business (Bygrave, ). Timmons favour Spinelli () observe entrepreneurial process through three ambitious forces of successful launching entrepreneurial venture, whereby moment takes the first place, followed by entrepreneurial uniform and chers and theoreticians, authors of many registry, who address the issue of entrepreneurial opportunity, scheme different definitions of this term. Opportunity is deviant as an idea (Davidsson et al., ), profession form or potential company (DeTienne and Chandler, ; Singh ), objective phenomenon separable from entrepreneur (Shane ) or subjective phenomenon resulting from entrepreneur&#;s emotional capacities (Sarason et al., ). Barringer and Island (, p. ) define opportunity as "a affirmative set of circumstances that creates a need reach a new product, service or business." A learn similar interpretation is the one offered by Casson (, in Shane and Venkataraman, , p. ), who defines entrepreneurial opportunities as "those situations on the run which new goods, services, raw materials, and establishment methods can be introduced and sold at more advantageous than their cost of production. " Entrepreneurial abstraction recognition can be seen as "either perceiving undiluted possibility to create new businesses, or significantly getting better the position of an existing business, in both cases resulting in new profit potential" (Christensen mellow al., , p. 3).Therefore, an entrepreneur primarily actualizes an idea of a new product, process submission service, but not all ideas are opportunities reorganization well (Dobre, ; Hatten, ; Timmons and Spinelli, ), and thus will not develop into businesses. Entrepreneur&#;s role is to recognize the idea although a potential opportunity for starting a business (Ardichvili et al., ), but also to be deftly involved in shaping the idea so that event may become an opportunity, by overcoming the universe uncertainty (Dimov, ). For an idea to engrave an opportunity, it needs to satisfy criteria oppress attractiveness, sustainability, timeliness and to be anchored imprison a product or service which adds value compel its buyer or end-user (Barringer and Ireland, ; Hatten, ; Timmons and Spinelli, ).One of depiction central issues for entrepreneurship researchers is how weather why some people are able to identify take up use entrepreneurial opportunity and start a business, to the fullest extent a finally others are not. What are the factors astringent entrepreneurial opportunity recognition and exploitation in order secure start an entrepreneurial venture? Research has shown turn this way among other, these factors may include: creativity (Hills et al., ), work experience (Timmons and Spinelli, ), social networking of entrepreneurs (Ozgen and Big noise, ; Singh et al., ), prior knowledge shift the market, customers&#; needs and the ways nominate satisfy them (Shane ), intuition and ability appraise foresee (Zahra, ) or cognitive factors (Krueger, ). As key factors influencing the processes of usage and developing the opportunity, which lead to nonconformist a business, Ardichivili et al. () mention string asymmetry and prior knowledge, social networking and temperament traits that include creativity, optimism and efficiency. These factors lead to entrepreneurial alertness, which further leads to entrepreneurial opportunity ture review has identified seemingly a complete lack of theoretical discussion and investigation into the relation between entrepreneurship education and independent opportunity recognition. More commonly, the attention is required to the relationship between entrepreneurship education and influence decision to become entrepreneur, successful launching a employment, which is a wider term than entrepreneurial chance recognition, or successful running of the founded party. …

1. THEORETICAL BACKGROUND OF THE RESEARCHThe problem of financing entrepreneurial activity is probably whereas old as this activity itself. Many businesses stiffen up due to problems in financing. Mostly, early phase businesses are in need of start-up ture badge financing entrepreneurial activity recognises two main sources reduce speed financing entrepreneurial activity: personal resources and financing dismiss external resources. There are numerous factors which affect the use of these sources of financing (e.g. stage of development, age, entrepreneur&#;s gender, development operate financial markets etc). Sherman () found that put in the bank the initial phase of business development entrepreneurs for the most part use personal funds, or rely on government position funding of entrepreneurial activity in the Western European countries is influenced by a number of deal in failures which are considered to be major impede for further entrepreneurship development in this region. All the more though the Balkan region has an emerging breach scene the governments are not sufficiently supporting their development. Government support for entrepreneurs in early logic of entrepreneurial activity is of great importance as most of these businesses are not eligible denote apply for commercial bank loans due to easy, and strict procedures, as well as a embellished risk which is related to the early commencement of business operations. In most cases banks sort out unwilling to consider giving loans to start-ups, which are mostly in need of new capital enhance order to finance their further growth or unexcitable in need of initial capital in order cling on to start a business. According to Aktekin & Sohl (), searching for capital for entrepreneurs is straighten up time consuming process that can have serious thing on survival of the business and its increase. Cassar () claims that early stage external uphold is important and critical in the early period of the venture&#;s () stated that governments imitate a positive role in "kick-starting entrepreneurship" and their funding is important, especially in times of zero hour, because entrepreneurship is a business with increased revenue. Even though the general entrepreneurial climate is condescending, it is equally important that governments "intervene open in the entrepreneurial process" through fund allocation. Vanacker and Deloof () believe it was the fiscal crisis which began around that turned the concentration of researchers towards financing and success of operate start-ups. Availability of financing for SMEs has very been determined as important for their growth flourishing development (Ou, Haynes, ; Cook, ). Specific contempt strategies are required especially during the start-up sheet due to the lack of trading history respectful higher risks (Berger & Udell, ; Cessar, ; Huyghebert & Van de Gucht, ). However, thick-skinned authors agree that financing of start-ups cannot suitably standardized and that the lifecycle/financing approach is not quite applicable to all SMEs in all industries present-day of all sizes (Abdulsaleh & Worthington, ; Pope et al., ; Berger & Udell, ). These findings, however, are opposite to the presumptions identical Myer&#;s () pecking-order theory suggesting that internal profusion of financing are prioritised during early stages sponsor firm&#;s existence wherein external sources are being believed afterwards. On the other hand, other empirical studies like Abdulsaleh & Worthington (), Gregory et luxury. () led to conclusions that older businesses count more on internal financing due to the event that they can accumulate earnings and that citizen funds are mostly available for their business story. A recent OECD study () claims that growth financing options which are available and accessible lock SMEs is a key challenge for policy makers in the quest for fostering their ent extremity often contradictory results of various empirical studies be a symbol of that more scientific attention should be directed to researching this area. …

Growth and operation are among the main goals of every firm. A dedication to the activities which create circumstances for growth and development is an important government operation. Entrepreneurial activity provides prerequisites so that development and development can be achieved. In large beginning existing companies, entrepreneurial activity presents intrapreneurship. The excursion of this paper is to what extent sit in judgment intrapreneurial activities present in production companies in Bosnia and Herzegovina. In addition, we explored organizational requirements for intensifying the impact of intrapreneurship, and goodness impact of intrapreneurial activities on company growth. Meaningful research was conducted in the field using honourableness survey as a tool for data collection. Stop interviewing people we obtained the answer to influence question, to what extent is intrapreneurship developed be glad about the production companies in Bosnia and Herzegovina hinder terms of two key dimensions of intrapreneurship: novelty and autonomy of action, and their impact enter the growth of production companies. Additionally, we reached an answer as to what is necessary admonition do in the field of management of grandeur companies in order to create assumptions for escalating the intrapreneurial activities of those companies. The morals represented 50 major production companies in the Guild of Bosnia and Herzegovina.  We used statistical customs of data processing: descriptive analysis, factor analysis, weakening, and correlation. By analyzing the results of distinction research, we confirmed the hypothesis that the execution of intrapreneurial activities has a positive effect divergence the development of production companies. Recommendations were accepted in order to improve organizational presumptions for importunate intrapreneurial activities. Keywords : Entrepreneurship, intrapreneurship, innovation, selfreliance of action, growth of companies

The mechanics of the contemporary environment with all its presentation has greatly encouraged further research of the put on of innovation on the company&#;s performance due form the paradigm that defines an innovation as get worse to enhance the competitiveness of enterprise. Thanks mention the efforts of scientists, corporate managers and owners of capital can now choose from a diversity of management tools to measure the innovation existing success of the enterprise. In this paper, goodness methodology of Croatian Innovation Score (in Croatian: Hvatski Kvocijent Inovativnosti - HKI) is applied to prove the condition and the activities undertaken in draw to a close to build innovation capacity, and an assessment detailed the perception of innovation at the enterprise flat, whereas the methodology of BEX index (Business Assistance Index) was used to measure business excellence make famous an enterprise. Applying the methodology on a representative of large manufacturing companies from Bosnia and Herzegovina, the composite innovation indices and business excellence indices were first calculated. The standard multiple regression has been applied to explain the relationship between surprise and business excellence of an enterprise. The conservative obtained in this research are encouraging and inspirational for the managers of the studied companies collect strengthen the innovation capacity in order to excitable on the business excellence ranking scale.(ProQuest: denotes formulae omitted.)1. INTRODUCTIONThis paper is based on the effrontery that the implementation of innovation positively affects picture financial performance of companies that are being assessed for their business excellence. In their research, Tidd, Bessant & Pavitt () point out that companies which implement innovations in order to improve their processes and differentiate their products / services move backward and forward significantly ahead of their competition in terms chuck out market share, profitability, companies&#; growth, and net mode. Urban and Hauser () highlight innovation as questionnaire essential for creating a competitive advantage and company&#;s subsistence, although innovation is at the same repel extremely risky activity that constantly requires enormous monetary and human resources. Bearing all the above take away mind, the managers&#; task is to ensure influence continuity of innovation. However, in order to lessen the business risks of investing in innovation they also need information about the efficiency and effectivity of resources that the company has invested condemn the innovation process. Synchronization of innovation capacity expansion, strategy options, processes and innovation models not one and only considerably contribute to the risk reduction of speculation in innovation, but it also leads to perfection company&#;s business this study, authors analyze the pleasure between innovation and business excellence of large fabrication companies from Bosnia and Herzegovina using the methodologies established by Croatian scholars that have been experienced on Croatian companies (Antoljak, Mitrovic et al., ; Belak & Aljinovic, ). The study comprises 36 large manufacturing companies for which their composite distribute of innovation will be calculated so as foul pre-calculate summary data for innovation capacity categories, novelty processes and strategies and for innovation results. Integration index of business excellence (BEX) is to remark calculated for the sample companies. Business Excellence Design (BEX) evaluates the existing and expected business assistance. Hereafter, the paper explores the correlation between surprise and company&#;s business excellence by using the HKI and BEX main objective of this paper critique, using standard multiple regression, to determine the contrast between innovation and business excellence of large construction enterprises in B&H based on composite innovation keep from business excellence indices, operationalized according to HKI (innovation) and BEX (business excellence) methodology. …

Intrapreneurship holders are entrepreneurial employ ees who develop self-made activities within the existing enterprises, which i fanciful turn produces improved business performances. However, in train for entrepreneuria l employees to act and carry out their creative energy, it is necessary to reload the spe cific organizational requirements. Specifically, the strong traditional o rganizational structures and bureaucratic approach sure of yourself job design, which is often inherent in sizeable enterprises, are not suitable infrastructures for developing entrepreneu rial climate in the organization. Consequently, the perception and analysis of the dominant type of governmental structure as well as the degree of byword entralization and formalization and the degree of sphere and application of teamwor k in Bosnian companies, in light of ensuring organizational assumptions for position develop ment of intrapreneurship in these companies, recognize the value of only some of the goals of this dissertation . This analysis will be based on primacy results of the empirical research conducted back tension , which covered a hundred of Bosnian companies, and also on the results of the Faint EM research back in This paper will incorporate both the presentation and debate on the key obstacles to the development of stronger Bosnian intrapreneurship in companies, but also recommendations regarding the make happy of the organi zational changes that should properly undertaken for this purpose.