Author(s):
1. Aleksandar Jankulović, Belgrade Metropolitan University, Faculty of Management, Serbia

Abstract:
Business development and entrepreneurship is a key driver of national economy competitiveness in world market. This is of more great importance for developing transitional countries from state to market economy since they have newly established system of entrepreneurship and they have to compete with developed economies in open trade market. Therefore research of society’s factors that make barriers or improve entrepreneurship activity is of great importance. This paper according to Scott’s framework examines influence of society’s normative, culture-cognitive (cultural value and beliefs) and regulative (rules) institutions that are related to entrepreneurial activity. In our work we examine influence of these factors during the actual entrepreneurial activity through analysis of companies from different industries in a case of a transitional country like Serbia. Social view of entrepreneurs, their status and respect, influence of social contacts, networks, culture (national, industry, corporate), human (intellectual) capital, market specificity and infrastructure, benchmarking and quality management systems on entrepreneurship as well as influence of institutions and regulations are some of the factors that are investigated in the paper. The specific purpose of this paper is to examine the interrelationships between institutional change and entrepreneurship development in country that until recently were operating under the rules of central planning. This study aims to contribute to a better understanding of the components of the national environment that influence entrepreneurship in transitional country in order to improve entrepreneurship, business and national economy development. The study aims to confirm existing parameters from the literature and to identify new parameters from the case study, how society’s institutions influence enterprising behavior and activity and to reveal obstacles and opportunities to solve them. In order to collect data we made interviews with owners and top managers from 8 small and medium enterprises within 8 different industries. Companies are family owned and managed based on opportunity-motivated entrepreneurship. This paper has argued that society’s regulative and normative factors are at least important as cultural values of entrepreneurship in one society. This study aims to contribute to a better understanding of the factors of the national environment that help to explain the differences in entrepreneurship across countries and help to find main causes for obstacles in business development especially in transitional developing countries. Paper also reveals the existence of different characteristics and society’s influential parameters on entrepreneurship in different industries within analyzed country.

Thematic field:
Financial sector

Date of abstract submission:
04.02.2014.

Conference:
REDETE 2014 - Researching Economic Development and Entrepreneurship in Transition Economies

Final paper