Open AccessADAPTATION OF A COMPANY TO THE ENVIRONMENT AS A DETERMINANT OF BUSINESS PERFORMANCE
Author(s) -
Senka Borovac Zekan,
Ivona Vrdoljak Raguž,
Ivan Peronja
Publication year - 2020
Publication title -
zbornik radova ekonomskog fakulteta u istočnom sarajevu
Language(s) - English
Resource type - Journals
eISSN - 1986-6690
pISSN - 1840-3557
DOI - 10.7251/zrefis2020041v
Subject(s) - adaptation (eye) , competitive advantage , business environment , business , industrial organization , global environmental analysis , process management , marketing , business administration , physics , optics
For many years, a sustainable competitive advantage has been an imperative in the business of a modern company. One of the most important factors in gaining a competitive advantage is the adaptation of the company to its external environment. The environment in which modern companies operate is dynamic, uncertain and complex, and it is to be expected that the ability to adapt will become the most important competitive advantage of the 21st century companies that will enable them to achieve better and improved performance. However, there is still a rather small number of scientific research that link the adaptation of a company to its environment with achieved financial and non-financial performance of a company. This paper aims at examining the implied relationship between so-called flexible companies, and financial and non-financial business performance measures. The results of the research indicate the existence of a positive relationship between companies with more dominant characteristics of adaptive companies and non-financial measures of business performance.