Globalization Opportunities and Their Implications on Business Operations and Competitiveness of Companies in Bosnia and Herzegovina

Globalization provides new business opportunities for companies all over the world and, at the same time, puts before them new challenges they need to adapt to in order to achieve success in the market. Also, global trends impose on the companies requirements for enhancement of competitiveness as a key determinant of their success in both local and international market. This research deals with the implications of globalization opportunities on business operations and competitiveness of companies in Bosnia and Herzegovina (hereinafter: B&H). The research findings have led to the conclusion that B&H companies demonstrate a substantial level of internationalization of business activities and that they use globalization opportunities to enhance their competitiveness, albeit at a low intensity. Apart from that, the research findings indicate that globalization has a more favorable impact on large companies than on small and medium-sized companies, because large companies use globalization opportunities more frequently for the purpose of performing their business operations in the international market and improving their competitiveness.