Conditions and limitations on investments of small and medium enterprises in intangible assets as a response to the crises of the real sector
Keywords:
intangible assets, small and medium sized enterprises, entrepreneurial orientation, marketing orientation, competitivenessAbstract
Business environment for small and medium size enterprises in Republika Srpska is extremely unfavorable. Lack of entrepreneurial infrastructure as well as legal framework, alongside global financial crisis and crisis of real sector with it all puts additional burden on work of enterprises in Republika Srpska as well as in the region. Enterprises, in modern business environment, need to invest in intangible assets much more than it is case at the moment. Intangible assets are the imperative which creates space for development and accomplish entrepreneurial competitiveness. The aim of this paper is to, through literature review, investigate effects of internal entrepreneurial factors in small and medium size enterprises as well as to analyze business environment in Republika Srpska. Special aspect of the analysis relates to analysis of the possibilities and limitations of investment in intangible assets, throughout business culture development, which implies introduction of entrepreneurial culture and marketing orientation.
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