TOP-MANAGEMENT ACTIVITIES IN TRANSITIONAL ECONOMIES: A FACTOR-ANALYTIC STUDY FROM BOSNIA AND HERZEGOVINA
Abstract: The role of top management in transitional economies, such as Bosnia and Herzegovina, is particularly critical due to the complexity of strategic and operational decision-making within unstable institutional environments. The aim of this study was to identify and structuralize the key activities of top management in enterprises operating within this context. A quantitative methodology was applied, based on exploratory factor analysis (EFA) of data collected through a structured Likert-scale questionnaire administered to a sample of top managers across diverse sectors. The empirical framework encompasses both domain-specific analyses (marketing, strategy, and human resources) and a comprehensive, integrated analysis of overall managerial latent dimensions. The findings reveal distinct factor structures within individual domains, while the integrated model yields a robust framework highlighting five core managerial priorities, among which organizational justice emerges as a pivotal dimension. This research contributes to a deeper understanding of leadership practices in transitional settings, addresses a prominent gap in the post-socialist management literature, and offers actionable insights for improving corporate performance.
Keywords: top management, transitional economies, factor analysis, strategic decision- making