The success and failure of any organization largely depend on talented and competent employees. Through human resource management (HRM) practices and policies, organizations strive to ensure committed employees. One of the fundamental practices they use is undoubtedly material and immaterial compensation. Adequate management of such compensation may contribute to greater employee engagement in achieving the set goals, realizing the mission, and fulfilling the vision of the organization. In such ways employees confirm their affiliation with the organization, which classifies them as committed employees. The paper assumes that the adequate application of material and immaterial compensation in organizations in Bosnia and Herzegovina (BiH) may improve employee organizational commitment. This ultimately has a positive impact on the effectiveness and efficiency of organizations. The research was conducted in 128 BiH organizations with more than 50 employees across four sectors. The hypotheses were tested applying the Principal Components Analysis (PCA) through the Kaiser-Meyer-Olkin (KMO) values and Bartlett's test of sphericity and the regression analysis. The results show a statistically significant positive impact of material and immaterial compensation on employee organizational commitment. Creating more agile policies and practices of human resource management, especially those related to material and immaterial compensation, can significantly improve employee commitment as well as the entire organizational effectiveness.

Nowadays, when operating in an unstable market, organizations in Bosnia and Herzegovina (BiH) are also facing a continuous outflow of qualified employees to the countries of the European Union. In order to properly respond to the challenges from the environment, the organizations in BiH are forced to take adequate measures so as to become competitive in the market, which may prove to be difficult if they do not retain skilled workforce. This paper attempts to show that by implementing appropriate human resource management (HRM) practices and policies, organizations in BiH can affect employee organizational commitment, which will result not only in market survival but also in increased competitiveness, as the experience of the organizations in the surrounding countries shows that human resources is what gives these companies a competitive advantage. The paper aimed at examining the impact of characteristics, organizational characteristics, and HRM practices focused on performance appraisal, job security, employee participation, and career planning on employee organizational commitment in BiH companies with more than 50 employees in four sectors. The empirical research was conducted on a sample of 128 companies. The results show that when it comes to employee organizational commitment, HRM practices and policies bear more importance than demographic and organizational characteristics and that there is a statistically significant positive impact of HRM practices and policies on employee organizational commitment.

When companies sell goods/services, they may request cash prior to or at the delivery or they may offer deferred payment. The decision on credit policy is a trade-off between the benefits gained from increased sales and the costs of approving credit. Based on the appropriate analysis of reports, controlling should help the management to bring such business decisions aimed towards customers and to take all the necessary measures for obeying the appropriate legal regulations. This way, controlling may influence better liquidity of a company, which includes faster cash turnover, payment to its suppliers, lower outstanding accounts, and better profitability. Apart from the general importance of controlling credit sales and collection of receivables, the article examines the position and the role of controlling in the companies operating in wood processing as the fastest growing industry in Bosnia and Herzegovina.

Social responsibility has become increasingly important in recent times. The term “corporate social responsibility” (CSR) is also found in the literature, treated by the Islamic economy and finance. Islamic CSR is based on the principles of Shariah. Therefore, the main objective of this paper is to study CSR approaches of Islamic and Conventional Economics. Financial institutions, corporations and enterprises need much more to do CSR practices, to promote CSR that underpinned under the principles of Shariah. The main goal of the paper is to analyse and explore the theoretical and practical aspects of social responsibility from the aspect of Islamic economy and finance. The conducted research showed that there is no significant deviation of the principles of Islamic economy and finances versus the traditional principles of social responsibility. The only difference is that the principles of Islamic economy and finances include a higher degree of application of ethical principles, which should result in moral and ethical economic development of society.

*1 The authors wish to express their gratitude to one of the postgraduate students (an employee of the specific Bank) for her valuable help with the empirical research. **2 Adisa Delić, PhD, Faculty of Economics, University of Tuzla, Univerzitetska 8, 75000 Tuzla, Bosnia and Herzegovina, Phone: +387 61 331 830, E-mail: adisa.delic@untz.ba ***3 Emira Kozarević, PhD, Faculty of Economics, University of Tuzla, Univerzitetska 8, 75000 Tuzla, Bosnia and Herzegovina, Phone: +387 61 178 821, E-mail: emira.kozarevic@untz.ba ****4 Mersiha Alić, PhD student, Indiana Institute of Technology (Indiana Tech), 1600 E. Washington Blvd. Fort Wayne, IN 46803, USA, Phone: Tel: +1 260 804 0415, E-mail: malic01@indianatech.net Abstract

Abstract Modern companies’ business environments have become increasingly complex, dynamic, and uncertain as a consequence of globalization and the rapid development of information communications technology. Companies are urged to increase their flexibility in order to keep their competitiveness in the global market. The affirmation of intrapreneurship becomes one of the basic ways for achieving higher adaptability and competitiveness of large companies in the modern business environment. In this context, the choice of an organizational solution that improves the development of entrepreneurial orientation and increases employee entrepreneurship and innovativeness becomes an important task for large companies. Research studies and business practices have indicated that various types of modern organizational forms enable the development of intrapreneurship. Therefore, the main aim of this paper is to identify dominant characteristics of organizational solutions and analyse their influence on the development of intrapreneurship in large companies in Bosnia and Herzegovina (BiH). The research results indicate that current organizational characteristics are not favourable for the development of intrapreneurship in large BiH companies and that improvement is necessary in order to create an enabling environment for intrapreneurship and innovativeness. Based on these findings, recommendations for appropriate organizational changes are presented that might result in a more intensive development of intrapreneurship in large BiH companies.

The subject of this paper refers to the current obstacles to the development of women's entrepreneurship in B&H: namely, the obstacles arising from the impact of gender roles on women's entrepreneurship, barriers arising from missing entrepreneurial knowledge and skills, barriers relating to the source of capital and establishment procedures and the obstacles that result from inhibiting factors. The overall purpose of this research was to identify the scientific method and clarify the current obstacles to the development of women’s entrepreneurship in B&H, in order to be on the basis of research results identify concrete measures to reduce unemployment. In order to identify the key obstacles to the development of women entrepreneurship in B&H, the methodology is based on primary research, in which data are collected by the method of written tests using a structured questionnaire. Based on consultation with relevant theoretical sources and the empirical research, the main conclusion of this study is that access to finance and advisory services, entrepreneurial skills and administrative services are basic factors limiting the development of female entrepreneurship in B&H.