The performance commercial banks in the Croatia have been widely studied, but there is little known about the examination of the nature of competition. For these reasons, it is important to investigate whether the banking sector in Croatia exerts monopoly or monopolistic behavior. This research empirically explores the nature of competition in the Croatian banking sector by covering 24 commercial banks between 2008 and 2018. In this vein, the panel data analysis was used along with H-Statistics. This study for Croatia and its findings confirms early findings of the existence of monopolistic competition in the most transition and developing countries. In fact, the findings obtained from this study reveals that the commercial banks in Croatia operate under monopolistic structure. Moreover, the results reveal that variable of RIETD, RLTA, RETA, and RDTA are statically significant. It indicates that banks operated in Croatia are focus more on traditional loans than other activities.

In this paper, the authors explore the conditions for the development of innovation in the Republic of Serbia. The paper analyzes the factors influencing the development of the innovation environment. The influences of state institutions, international institutions and programs as well as the influences of the NGO sector on the development of the innovation environment in Serbia are discussed. In order to valorize these efforts to develop the innovation environment in the right way, the authors also analyzed Germany, as the leading economy in supporting the innovation environment and building innovation infrastructure.

Small and medium enterprises (SMEs) are seen as one of the main drivers of economic growth in the modern economy that is characterised with free markets, private ownership, entrepreneurship, and a major change in the basic approach to business and management. As a result, human capital is regarded as the most important asset, and therefore, in order to grow and prosper, SMEs need to embrace the strategic approach to the human resource management (HRM) which should, in return, increase their competitiveness and responsiveness to the market changes. The aim of this study was to analyse the influence of strategic human resource (HR) practices on organisational performance. The results of hierarchical regression used to test the hypothesis supported the relationship between strategic HR practices and business performance. The findings presented in this study were used for making recommendations to the SMEs' managers in the Federation of Bosnia and Herzegovina.

1 Faculty of Business Administration (FBA), International University of Sarajevo (IUS); E-Mail: gridic@ius.edu.ba, 2 Faculty of Business Administration (FBA), International University of Sarajevo (IUS); E-Mail: minelaahmic57@gmail.com, 3 Faculty of Business Administration (FBA), International University of Sarajevo (IUS) E-Mail: oridic@ius.edu.ba, 4 Faculty of Business Administration (FBA), International University of Sarajevo (IUS) E-Mail: sbusatlic@ius.edu.ba ABSTRACT

During the course of history almost all civilizations contributed to the genre of “book of advice” with different labels; such as ‘sbyt’, ‘astra’, ‘andarz’, ‘mirror for prince’ and ‘siyasatnama’. Even though they were prima facia addressed kings and higher officers, they contain a great deal of universal advices applicable to any management and leadership context. So much so that scholars have realized the relevance of principles offered in these texts to management and especially to the field of business ethics.

Innovation is the process of transforming the idea into its practical application. Innovation and invention are two different concepts. The criterion by which we distinguish innovation and inventiveness refers to the connection between the practical and the commercial aspect. In essence, innovation consists of a theoretical concept, technical invention and commercial exploitation. An implicit feature of innovation is that it must be useful. This distinguishes innovation from the invention, which has no practical application. This revised work deals with numerous secondary sources of information, such as the Internet, books, as well as statistical reports on innovation and the countries of the EU, America, Canada, and OECD countries; He studied a number of professional articles, manuals, master theses, doctoral dissertations, etc. Satisfied patient is the goal of all our innovative healthcare activities. The main topic of the discussion is whether innovation is a process or result? Innovation management applies to all types and forms of innovation and innovative processes. In conclusion, a constant change for the better, which improves the health and satisfaction of patients, reduces health care costs, is an imperative for every serious health institution. Pluralistic approaches and ratings show that the quality of health services has a different meaning for patients clients, health workers and managers. It is possible to innovate if we fully understand the nature of the challenges we face and if we manage to mobilize human resources for the necessary changes.