BOOSTING COMPETITIVENESS OF CROATIAN COMPANIES THROUGH BUSINESS MODEL INNOVATION

In order to improve competitiveness, companies often benchmark themselves against competitors. To get the big picture, it is useful to benchmark countries in order to get insight into the comparative advantages of each. The Glob a! Competitiveness Index (GCI), published by the World Economic Forum (WEF), is the accepted tool for evaluating a country's potential for growth. It evaluates the productivity and efficiency of countries and can be very important for attracting foreign investors. According to "The Global Competitiveness Report 2016-2017'; Croatia's rank is 74 among 138 countries in the world. Local entrepreneurs and macroeconomists agree that the rank is not sufficient and that, as a member of EU, Croatia should reach a similar position as other developed western countries. This article aims to present a current state of the Croatian global competitiveness, to find the weakest part of, and to give recommendations on how it can be improved. Abstract Every company has a business model, although many of them are not really aware of it. Business model represents a way that companies do business, a way they create and capture value. The goal is to introduce business model innovation as a powerful source of competitive advantage.