In the world economy, small and medium sized entreprises (SMEs) dominate in the number of overall enterprises (90-99% of all enterprises, depending on the definition used) and in economic contributions (GDP growth, productivity, job creation, innovation, level of competition, etc.) (Lundström i Stevenson, 2001). Because small businesses generate jobs, tax revenue, functional products, charitable donations, technological development, and social contributions to communities, their success and sustainability are important for social and economic development. In addition to the impact on public health, coronavirus disease 2019 (COVID-19) caused a major economic shock and the greatest consequences were felt by the small and medium-sized enterprises. Due to the crisis caused by the Covid-19 pandemic, countries and their companies are facing major problems of human and business capacities sustainability. Although governments have enacted private sector policies, there are constraints that have direct implications for economic growth potential. In this paper, we investigate the impact of COVID-19 on SMEs in Bosnia and Herzegovina, focusing on the impact of the Law for mitigation negative economic consequences, better known as the Crown-Law. We first examined how the companies performed this year compared to the previous year, and then we examined whether there were barriers to the implementation of the Crowv-Law and if so, whether they were internal or external. The results of this research point to the fact that the Crown-Law is not good enough. The measures are not in line with the strategic needs of SMEs, there is a time limit and the measures are short-term. The SME development strategy should be coordinated based on the mechanism of public-private dialogue. SMEs need business services to improve their competitiveness (information, consulting, training, accounting, legal services, advertising, marketing, technical and technological services, including testing standards and certification requirements abroad, product upgrades, etc.). The results of this research provide some information of the business results and expectations of SMEs in times of crisis, while offering insight into measures designed to aid recovery. The results highlight the role that the length of the crisis will play in determining its final impact, which policymakers should consider when considering the scale of interventions needed. On the other side, the Covid-19 pandemic has opened up new challenges, but also opportunities for SMEs, such as technological advances that create new products and transform almost every phase of the business from manufacturing to marketing, procurement and logistics. Currently, only a small part of the SME sector is able to recognize and seize these opportunities and meet the challenges.

Purpose: The aim of this paper is to determine, theoretically and empirically, which strategies are most commonly used to manage conflict situations and to what extent conflict management strategies have an effect on knowledge transfer between owners and successors in family businesses in Bosnia and Herzegovina. This research empirically establishes a link between conflict management strategies and knowledge transfer. Methodology: In addition to theoretical conceptualization, the paper presents quantitative empirical research confirming the validity of the proposed hypothesis. Results: The results of the research show that owners who tend to use the integrating, obliging and compromising conflict management strategies, attach more importance to succession planning and transfer of knowledge and experience to successors. In contrast, dominant leaders are less willing to plan for succession, as they would prefer to retain all the crucial information and decision-making authority and are therefore reluctant to share their knowledge and power. Conclusion: Relevant conflict management strategies can be implemented to help maintain family relationships and ensure business continuity. Learning effective conflict management techniques is important for anyone involved in a family business. Thus, managing conflict is important for the success and longevity of family businesses.

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The authors in this article primarily seek to clarify the functioning of the legal and economic factors for the future integration of Bosnia and Herzegovina into the European Union. Accordingly, under the conditions of modern market and technological change, it is difficult to imagine the integration process in the sense of globalization, without the more active role of developed countries to assist countries in transition on their European path. Thus, diplomacy has a major impact on economic and legal and political integration in the EU, and on the other hand, Bosnia and Herzegovina has a political, legal and economic interest in joining the EU, and has already started using EU funds according to programs, based on the Framework Agreement between the EU and Bosnia and Herzegovina. It is quite logical that the EU funds are invested with intention to create a competitive B&H economy for the EU Single Market (internal market). However, economic cooperation is only the "first pillar" of the European integration process. A big step forward, with regard to foreign-political cooperation and security, was achieved through the Maastricht Agreement, by introducing the "second pillar" within the European Union. So, it is quite logical to conclude that the Maastricht Agreement joined the security to the Foreign Policy, which then allowed Member States to actively and unreservedly support the realization of the "second pillar". The foreign policy and security of the EU member states cannot be at an adequate level if no internal security is established in each country. For this reason, it is very important to establish appropriate judicial cooperation and cooperation between the police, in the creation of a European judicial space, whose constituent part Bosnia and Herzegovina tend to be a part of. In this way, a "third pillar" of cooperation in the field of law and internal affairs is created.