Volume 1, 2013: Issue 2

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Evaluation of knowledge-based high-growth enterprises in Serbia's economic development


Milan Vemic, Faculty for management of small and medium- sized enterprises, Serbia


This paper will address issues within the thematic component of knowledge-based dynamic entrepreneurship. Many governments pay particular attention to the current and potential needs of their fastest growing workforce segment consisting of knowledge-based SMEs operating in the internationally traded goods and services sectors (i.e. enterprises that produce products and services that can be exported, and operate specific programs of support including access to business financial and non-financial support, international trade, innovation and other sector and non-sector-specific measures). The justification for this focus is the potential and disproportionately significant contribution that knowledge-based enterprises can make to overall economic development through, for example; exports, innovation, employment and sub-contracting facilities for foreign direct investment (FDI). This research looks at the specific situation regarding high-growth knowledge-based SMEs (HGSMEs) in Serbia and sets out proposals to encourage and facilitate their further development. In the first part of the discussion several definitions of high growth knowledge-based enterprises are considered while in the second part the role of government is discussed. The third part of the discussion provides a summary of empirical research results on dynamic entrepreneurship in Serbia. The fourth and fifth sections of the paper criticize the local environment and offer recommendations for improvements in a country context. Finally, key issues are also highlighted for further discussion.


Knowledge-based high-growth enterprises; Dynamic knowledge-intensive entrepreneurship; Knowledge-based industries; Gazelle; Innovation


Research paper


The Online Journal of Applied Knowledge Management (OJAKM), ISSN: 2325-4688


International Institute for Applied Knowledge Management (IIAKM)


1 July 2013