HUMAN RESOURCES’ INFLUENCE ON COMPETITIVENESS OF BOSNIA AND HERZEGOVINA, SERBIA AND CROATIA’S ECONOMIES

The level of competitiveness measures the success of an economy, which is one of the most important factors of economic growth and development. Competitiveness is a concept that every economy wants to increase, which is exactly why every country improves its own economic competitiveness. This paper presents a comparison of the competitiveness of Bosnia and Herzegovina and countries in the region. The aim of this paper is to show the competitiveness with the reference neighbouring countries and the impact of human resources on the overall competitiveness of the country. In order for economic growth and sustainable development to be stable and sustainable in the long run, it is necessary to establish a quality and efficient institutional environment which would create a stimulating environment for the most successful economic activities with the aim of improving competitiveness. A well-prepared human resources strategy allow the organisation to efficiently plan and manage all processes in order to support its goals and respond flexibly to any changes. In knowledgebased societies, adult education and lifelong learning have become a necessity in order to maintain and increase employee competitiveness. According to the results in this paper, it is evident that in societies based on knowledge, adult education and lifelong learning become a necessity in order to maintain and increase the competitiveness of employees.