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Weaknesses of Governance/Management in Transition Economies and Their Impact to the Economic Growth: A Case of Croatia

The purpose of this research was to explore the quality of governance and management in Croatia as a transition country. The reason is that poor governance and management can harm national economic performance and ultimately global financial stability. Distorted governance structures could lead to inefficient economic decision-making. In many transition countries, weak corporate governance has been blamed for the delay in restructuring after privatisation. Transformation from social to private enterprises is succeeded, but ambiguous property rights and an inadequate regulatory and institutional framework resulted in unchecked control by corporate insiders and unclear ownership and control structures. In many cases the rights of minority shareholders were very poorly protected and weak governance and managerial skills undermined confidence. Beside corporations, communities are also economic entities. Governance is the system which involves the creative interactions among business, private enterprises, government, public administration, nonprofits, citizen organisations and other groups. Managers manage the resources of the community, thus today performance measurement, output and input measures and outcomes are the most important issues in public administration. Are these performance measurement issues developed in Croatia as transition country? Which is the stage of growth of governing and managing in Croatia? Do the differences between them exist? This research has an aim to investigate the weaknesses of current situation in governance and management in private and public sector from the transition country’ s point of view. To give an answer to these questions, questionnaires and interview method as well as statistics will be used

corporate governance; managing; transition economies; economy growth; private and public sector

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