IMPROVING GLOBAL COMPETITIVENESS OF SMALL AND MEDIUM ENTERPRISES IN SERBIA

Abstract

Serbia in the new stage of development should create and maintain a competitive edge through entrepreneurship and innovation of companies, by raising the level of knowledge and rapid technological development, and on that basis increases economic and technical possibilities. To maintain a competitive position in the global market, the key elements are creativity, specialization and diversification. In order to fit the modern corporation in the new global rules of operation it is necessary to invest in increasing productivity, credibility of the product by using internationally accepted methods of certification, launching new product lines and market expansion by conquering new segments on different grounds. This requires new and greater investment in new forms of enterprise assets that are crucial for the realization of market flexibility and competitiveness in the long term. The most important change in strategy today every serious company in order to improve competitiveness is emphasized orientation to invest in so-called, intangible assets (R&D, technology, management and entrepreneurial knowledge and skills of employees, business organization, market development, and software applications). In modern conditions, maintenance of benefits inevitably requires a global approach to strategy. The Company can not keep for a long time a competitive edge on the international level without using and expansion of local benefits with global access strategy because global access strategy includes many important elements.