Developing a model for improving business and competitiveness of domestic enterprises

Abstract

Competitiveness of domestic enterprises on the international market is practically non-existent. The majority of small and medium-sized enterprises (SMEs) face difficulties when it comes to obtaining and maintaining a competitive position on the market. Globalization and business within the domain of the fourth industrial revolution - Industry 4.0, bring challenges for SMEs. Without an adequate quality management system, without the application of ICT and the lack of modern manufacturing equipment, enterprises can't compete on the international market. In this paper managers of domestic enterprises and customers of various products are surveyed. The two separate surveys included the analysis of quality management, product quality, human resource management, marketing strategy, promotional activities, customer satisfaction, perceived quality and brand development. The goal was to define the relations between the measured factors in order to develop a model for improving business and competitiveness of domestic enterprises in Serbia. The model provides significant insight on how could enterprises enhance their businesses and achieve a competitive position on the international market. Additionally, this present paper provides a solid basis for future research in this domain.

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