Perspectives and competitiveness of Bosnian industry: Competitiveness enhancement through innovative solutions

Abstract

On global level there is a large supply-demand imbalance for the worker with the right set of skills. Similarly, it is observed in Bosnia as well. Even though the unemployment rate is high in the country, the industry is struggling to get talents they need from the local market. On the other hand, the job seekers are rather preferring to look for job opportunities in EU countries since the packages of benefits are more attractive there. Bosnian industry is mainly based on labor intensive business and it is focused on lower cost as competitive advantage. Using this competitive advantage, the industry generates insufficient added value to offer competitive package of benefit to demanded talents from the global labor market. They have to switch to a new competitive advantage on differentiated unique solutions to target groups that will provide them with increased added value.