Author(s):
1. Alma Ćehajić, Federation of Bosnia and Herzegovina , Bosnia and Herzegovina

Abstract:
The global economic crisis appearance brought a high rate of inflation, unemployment and an efficiency decrease of economic systems in many countries. With this problems enhanced the need to implementate transition in some countries. This implies an economic system transit and a society transit from a system of planned economy to a system of market economy. The plain goal of radical industrial restructuring is to ensure survival in a global open-market environment. Countries which have started the transition process faced suddenly with an additional problem, with global competition. The global economic crisis has reduced and slowed down economic relations even in developed countries, which was and still is an opportunity for companies in transition countries to take some steps to increase the development gap to global competitors. Nevertheless, most transition countries have not reached the possible level of economic development as well as the possible level of development in other life areas. Companies in this countries must search for possibilities to be competitive with global companies. Because situations in which companies exist, it is necessary to notice the main problems and contemporary characteristics of business enterprise in transition countries under global economic conditions. The aim of this paper is to find optimal business strategies for companies in transition countries in their efforts to increase international competitiveness and achieve economic development at global conditions. Optimal business strategies should lead to global competitiveness for companies in transition countries. The complexity of business and trade, often caused by various limitations in transition countries, is the basic problem by developing companies and establishment of new companies in this countries. Especially, the contemporary global conditions are increasing the significance of efficient economic system functioning in which the company exists. Although, companies in transition countries are facing on one side sluggish surroundings and in the other side expeditious global surroundings. This contrasts led to difficulties of labor, sustention, business and management in transition companies. Often there are misunderstandings between cooperating managers and companies in transition countries and in developed countries. The contribution of this paper will be a help for transition managers. They will be able to find in this paper optimal management strategies for their companies which are influenced by the contemporary economy globalization.

Key words:
strategies, business, companies, transition, globalization

Thematic field:
Entrepreneurship and “free market” ideology (e.g.

Date of abstract submission:
30.05.2012.

Number of visits:
476

Conference:
REDETE 2012