Testing The Climate for New Business Concepts Introduction and Application in Transition Economies – The Case of Serbia
This paper investigates the possibility of introduction and application of new business concepts driven by the new economy in transition economies. The selected business concepts included the new management model, the new human resources policy and changes in mindset and attitude towards employees, and a new way of implementation of the formulated strategy, which all deliver successful business results to organizations in developed economies in the world. Research regarding the investigation of the effect of applying the above mentioned, by the new economy driven business concepts to the achievement of economic and financial performance of the organization was conducted in organizations operating in the Republic of Serbia, as a representative of transition economies. Results show that there is a link between the use of these selected new business concepts and achieved economic and financial performance of the organization operating in transition economy.
Keywords - Transition economy, new economy, new management model, new human resource policy, new strategy implementation principle.