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Modelling the Influence of Management Practices on Sustainable Market Performance in Serbian Enterprises

Author

Listed:
  • Mina Mazić

    (Academy of Technical-Art Professional Studies Belgrade, School of Design, Technology and Management, Starine Novaka 24, 11000 Belgrade, Serbia)

  • Edit Terek Stojanović

    (Technical Faculty “Mihajlo Pupin” in Zrenjanin, University of Novi Sad, Djure Djakovica bb, 23000 Zrenjanin, Serbia)

  • Sanja Stanisavljev

    (Technical Faculty “Mihajlo Pupin” in Zrenjanin, University of Novi Sad, Djure Djakovica bb, 23000 Zrenjanin, Serbia)

  • Mihalj Bakator

    (Technical Faculty “Mihajlo Pupin” in Zrenjanin, University of Novi Sad, Djure Djakovica bb, 23000 Zrenjanin, Serbia)

Abstract

In the evolving global market, new business conditions necessitate that enterprises adapt and construct organizational structures grounded in new principles and the implementation of contemporary management methods. This is particularly crucial for enterprises in transitional economies, which need to be highly flexible and innovative to meet the increasing demands of users swiftly, employ modern management techniques, and gain a competitive edge. The modern business environment assumes that there are very few products, technologies, services, knowledge areas, or procedures unavailable to interested groups worldwide. This study examines the influence of modern management methods and techniques (MMMTs), human resource management (HRM), quality management (QM), and intellectual capital management (ICM) on the sustainable market performance (SMPC) of these enterprises. A structured survey was conducted among 146 managers from various Serbian industrial enterprises, and the data were analyzed using descriptive statistics, Pearson correlation analysis, linear regression, and multicollinearity tests. The results revealed significant positive correlations between MMMTs, HRM, QM, ICM, and SMPC, with quality management having the highest impact. These findings provide valuable insights for improving business competitiveness in Serbia’s industrial sector. The results also support the development of an integrated model for sustainable management practices in transitional economies.

Suggested Citation

  • Mina Mazić & Edit Terek Stojanović & Sanja Stanisavljev & Mihalj Bakator, 2024. "Modelling the Influence of Management Practices on Sustainable Market Performance in Serbian Enterprises," Sustainability, MDPI, vol. 16(19), pages 1-30, September.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:19:p:8481-:d:1488734
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    References listed on IDEAS

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    1. Nosratabadi, Saeed & Mosavi, Amir & Shamshirband, Shahaboddin & Zavadskas, Edmundas Kazimieras & Rakotonirainy, Andry & Chau, Kwok Wing, 2020. "Sustainable Business Models: A Review," OSF Preprints u4xw3, Center for Open Science.
    2. Nosratabadi, Saeed & Mosavi, Amir & Shamshirband, Shahaboddin & Zavadskas, Edmundas Kazimieras & Rakotonirainy, Andry & Chau, Kwok Wing, 2020. "Sustainable Business Models: A Review," OSF Preprints ts54m, Center for Open Science.
    3. Saeed Nosratabadi & Gergo Pinter & Amir Mosavi & Sandor Semperger, 2020. "Sustainable Banking; Evaluation of the European Business Models," Papers 2003.13423, arXiv.org.
    Full references (including those not matched with items on IDEAS)

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