Modelling the Influence of Management Practices on Sustainable Market Performance in Serbian Enterprises

Abstract

In the evolving global market, new business conditions necessitate that enterprises adapt and construct organizational structures grounded in new principles and the implementation of contemporary management methods. This is particularly crucial for enterprises in transitional economies, which need to be highly flexible and innovative to meet the increasing demands of users swiftly, employ modern management techniques, and gain a competitive edge. The modern business environment assumes that there are very few products, technologies, services, knowledge areas, or procedures unavailable to interested groups worldwide. This study examines the influence of modern management methods and techniques (MMMTs), human resource management (HRM), quality management (QM), and intellectual capital management (ICM) on the sustainable market performance (SMPC) of these enterprises. A structured survey was conducted among 146 managers from various Serbian industrial enterprises, and the data were analyzed using descriptive statistics, Pearson correlation analysis, linear regression, and multicollinearity tests. The results revealed significant positive correlations between MMMTs, HRM, QM, ICM, and SMPC, with quality management having the highest impact. These findings provide valuable insights for improving business competitiveness in Serbia’s industrial sector. The results also support the development of an integrated model for sustainable management practices in transitional economies.