PREVENTIVNI SISTEM RANOG UPOZORENJA KRIZE PREDUZEĆA U BOSNI I HERCEGOVINI
EARLY WARNING SYSTEM FOR CRISIS PREVENTION COMPANY IN BOSNIA AND HERZEGOVINA

Summary/Abstract: In management literature and theory, crisis management represents a special management high priority form with aim to avoid or surpase all those processes jeopardizing the aims, that is, company’s existence. Crisis management encompasses: preventing and avoiding of further business results decrease, stopping of negative trends, status diagnosis and causes prevailing, recovery from negative impacts and, in the end, coming out of company’s business running crisis, that is, return to normal business running and development. It is of high importance for crisis management to avoid two fundamental mistakes, that are often being repeated, :ignoring the first signals warning to possible negative consequences and veiling the fact that business problems even exist. Results of analysis showed high importance ranking of certain prevention activities and instruments. Out of those activities and instruments, operative planning and plan control as well as instruments for following up of business indicators, based on financial reports, are being significantly separated. However, the analysis showed large deviations in implementation and implementation effects of the aforementioned activities and instruments. In other words, it can be concluded that domestic companies, even though showing the appreciation of certain activities in practical business running, do not behave in that manner. Furthermore, the results showed that during the crisis prevention phase domestic companies mostly follow up financial business indicators. The companies are the least prone to business crisis simulation. Having in mind that timely detection of crisis symptoms represents a key precondition for preventive action, research results record that highest ranking have following factors: - According to the business significance criteria, the highest ranking of preventive action factor goes to: speed and determination of management to react at very first signs of the crisis, timely consideration (detecting) of core crisis factors and implementation speed, that is, reaction to the symptoms. - According to the implementation success in business running, the highest ranking of the same factors goes to: management dedication at all levels, knowing of best practice in company’s business, speed and determined reaction of management at the very first signs of the crisis.

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