Regional Economic Development Model Toward Business Sustainability Support in Less Developed Countries
Science Journal of Business and Management
Volume 7, Issue 5, October 2019, Pages: 95-106
Received: Jul. 24, 2019; Accepted: Sep. 16, 2019; Published: Sep. 26, 2019
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Ibrahim Krasniqi, Faculty of Business, Haxhi Zeka University, Peja, Kosovo
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The research paper is mainly focusing on analysis and findings about the most suitable regional economic development models in less developed countries. Strategically the research is concentrated to find ways and build an approach toward balanced regional economic development (RED). During research the paper, specifically ifs focused to develop a strategic model for regional economic development in young country used as case study in the paper- Kosovo case. That model should be used to support the business environment as well affecting the overall development of the country through coordinated project management and synergy creation among the communities, local authorities and businesses. The research methodology used shows and mixed-methodological approach including both qualitative and quantitative data collection and appraisal, which included desk review covering existing literature at national and international level, semi-structured interviews with key, group discussions, relevant reports and other related documents. Actual situation in Kosovo regarding regional development suffers in many directions. Policies and strategies actually leave a gap, whilst most of regions and municipalities lack the capacities to create an effective environment for private sector development and job creation. There as well is dissatisfaction among stakeholders regarding the functioning of existing regional development model, structures and processes. The paper aims to establish new model and approach for balanced regional economic development based on balanced distribution of responsibilities between the central and local government levels with clear roles and responsibilities. This model will serve as one stop shop at regions supporting the business development and increasing employability in the country.
Regional Economic Development Model, Strategic Management, Businesses Environment, Sustainability
To cite this article
Ibrahim Krasniqi, Regional Economic Development Model Toward Business Sustainability Support in Less Developed Countries, Science Journal of Business and Management. Vol. 7, No. 5, 2019, pp. 95-106. doi: 10.11648/j.sjbm.20190705.11
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