Impact of the Knowledge and Innovation Culture on Non-financial Performance of Serbian SMEs

Knowledge and innovation culture are at the core of any company's competitiveness today and small and medium enterprises are no exception. In this paper results of an empirical study have been presented related to the impact of knowledge and innovation culture on non-financial performance indicators (NFPI) of small and medium entreprises (SMEs) in the Republic of Serbia. As it has been shown in numerous research findings that mesauring NFPIs of SMEs, may be more relevant than measuring financial ones, this was used as the basis of the research, aimed to examine if knowledge and innovation culture influence NFPIs of SMEs in the Republic of Serbia. The case presented includes randomly selected SMEs in the Republic of Serbia, for which no similar research data have been presented in the literature. Three hypothesis were tested and proved. Research results are presented and discussed in this paper with appropriate conclusion drawn and suggestions for the pursue of the research in the future.