PEST Analysis of Serbia

Main Article Content

Ivan Stošić
Draško Nikolić
Aleksandar Zdravković

Abstract

The main purpose of this paper is to examine the impact of the current Serbian macro-environment on the businesses through the implementation of PEST analysis as a framework for assessing general or macro environment in which companies are operating. The authors argue the elements in presented PEST analysis indicate that the current macro-environment is characterized by the dominance of threats and weaknesses with few opportunities and strengths. Consequently, there is a strong need for faster implementation of structural changes in order to eliminate or minimize the impact of weaknesses and threats of the current macro-environment and create more favorable business climate that would enable companies to formulate effective strategies and to raise their business performances.

Article Details

Section
Articles

References

Byars, Lloyd. 1991. Strategic Management: Formulation and Implementation – Concepts and Cases. New York: HarperCollins.
Cooper, Lee. 2000. "Strategic marketing planning for radically new products", Journal of Marketing, 64 (1). 1-15.
Coordination of Research Policies with the Western Balcan Countries. 2011. Progress Report on Recent Developments Regarding S&T Cooperation in/with WBC. wbc-inco.net (accessed February 17, 2012).
Coulter, Mary. 2010. Strategijski menadžment na delu, 100-110. Belgrade: Data status.
Envisioning Strategy. 2009. PEST Analysis. smehro.wordpress.com (accessed January 23, 2012).
European Bank for Reconstruction and Development. 2011. "Transition Report 2010 - Recovery and Reform".
Kotler, Philip. 1998. Marketing Management – Analysis, Planning, Implementation, and Control, 9th Edition. Englewood Cliffs: Prentice-Hall.
Maastricht Economic and Social Research Institute on Innovation and Technology. 2012. "Innovation Union Scoreboard 2011".
Ministry of Finance, Republic of Serbia. 2011a. "Izveštaj o razvoju Srbije 2010".
Ministry of Finance, Republic of Serbia. 2011b. "Ekonomski i fiskalni program Republike Srbije za 2012. godinu".
Serbian Innovation Fund. 2012. "Izveštaj o ostvarivanju Programa rada za 2011. godinu".
Statistical Office. Republic of Serbia. 2012. www.webrzs.stat.gov.rs (accessed February 27, 2012).
Stošić, Ivan, Cotič, Gordana, and Nikolić, Draško. 2009. "The Impact of the Global Financial Crisis on Transition Changes in Serbia", in Financial System Integration of Balkan Countries in the European Financial System: Impact of Global Financial Crisis, 138-147. Nice: University of Nice - Sophia Antipolis and Institute of Economic Sciences.
Stošić, Ivan. "Results and Problems of Serbian Real Sector Privatization" in Economic Analysis 2007 (1-2) Institute of Economic Sciences.
Thompson, John. 2002. Strategic Management, 4th Edition. London: Thomson Learning.
Todorović, Jovan. 2003. Strategijski i operativni menadžment, 78-92. Belgrade: Conzit.
Vuković, Vlastimir and Aleksandar Zdravković. 2011. "The inflation and exchange rate in the five Balkan countries from Maastricht convergence criteria prospect" Contemporary issues in the integration processes of Western Balkan countries in the European Union. Ljubljana: International Center for Promotion of Enterprises and Institute of Economic Sciences
World Bank. 2012. Doing Business 2012. www.worldbank.org (accessed January 5, 2012).