Abstract
The pandemic, called COVID-19, which has affected the whole world, inevitably leads to the collapse of the world economy, and has put many countries in a position to face the biggest economic problems in the last few decades. The recession caused by the COVID-19 pandemic is affecting all countries of the world, to a greater or lesser extent, but no economy has been spared. All emerging markets and emerging economies have vulnerabilities, exacerbated by this emerging situation, to which we should respond with rapid adaptation, adequate strategies and innovation. The task of BiH companies is very complex and requires good preparation, choice of good strategy, business adaptability, elasticity of organizational structure, adequately designed market performance, competent management and developed marketing program that monitors innovative activities of the company. However, in order to establish this, it is necessary to enable and apply a new form of management in companies in BiH. The strategic course of Bosnia and Herzegovina is integration into the European Union and the entry of domestic companies and the economy into the European and world markets. The paper presents a study of innovative management in companies operating in the city of Bijeljina, with special reference to innovative activities and changes. The obtained research results confirmed the existence of a positive connection between innovative activities and the competitiveness of companies. Everyday numerous problems that companies face within the new COVID crisis should be understood as a call for change, action and innovation, because the application of this phenomenon is the only adequate response to the crisis and overcoming it.
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