Lean business concept - a way to access domestic companies in global markets

• Main Author: Љиљана Танасић
• Format: Article
• Language: English
• Published: University of Banja Luka, Faculty of Economics 2013-02-01
• Series: Acta Economica
• Subjects: Lean Business Concept; Lean Business Philosophy; Lean Enterprise; ‘world-class’ company
• Online Access: http://ae.ef.unibl.org/index.php/AE/article/view/122

Modern business conditions have intensified competition in almost all areas of activities. The processes of globalization and internationalization, as well as the intensive development of technology, have made it much more difficult for a company to ensure its presence and survival on the market than in years past. In order to secure their existence and survive in such a dense, highly competitive market, companies have to adopt and use new - different, sustainable ways of doing business, such as the concept of Lean Business Operations Management. Tis paper aims to focus on identifying the key features and principles of Lean Business Concept, whose full implementation and literal application undeniably lead to building a sustainable market positions and even obtaining competitive advantages exclusively inherent to the ‘world-class’ companies. In order to emphasize utility and feasibility of transition to Lean Business Philosophy in today’s turbulent and uncertain business environment, the paper presents a number of advantages of companies based in developed countries as well as in certain regional countries that have successfully implemented Lean Operating Methods, and Lean Manufacturing Techniques. It also provides a general analysis of the possibilities of introducing this way of doing business into Bosnian-Herzegovinian enterprises, as an important condition for the inevitable adjustment requirements of global markets and underlines be nefts that emerge in the process, not only for domestic companies, but also for the entire domestic economy.