This paper analyses environment in fast (gazelles) and slow growing companies (mices) using Entrepreneurialorientation (EO) dimensions and business performance in terms of sales and employee growth. The research isdone using information on 178 small and medium enterprises (SMEs) in Bosnia and Herzegovina. We find thatEO dimensions are more present in gazelles than in mices. We show a small to moderate significant correlationbetween EO dimensions and business performance of gazelles and mices. Also, any change in sales growth andemployee growth might be associated with variability in innovation, risk taking and firm’s age.

This paper tries to explore issues in terms of business ethics and CSR in Bosnia and Herzegovina. We examined 54 companies by using convenience sampling method. We explored descriptive statistics and non probability data analysis. With Spearman’s correlation test we found possible relationships within some issues within the survey parameters that we examined. Conclusions have been derived from this study. For analysis we used a software for social sciences namely SPSS, version 21.

This paper focuses on the Asset Liability Model (ALM) with multistage stochastic model. The model is based on four assets with no transaction costs. The initial wealth is Wo should be invested wisely to meet the liability L at the end of the planned horizon H . the best possible decision is to keep the final wealth larger than liability L. Using excel solver we try to optimize solution as best possible decision that will at least meeting the liability L at the end of the terminal wealth. The optimization case was adopted from the book (Brandimarte, 2011, pp.754-758) which has been modified with four assets and with no transaction costs. In adapting the case, we added additional returns for extra 2 stocks, while returns for the initial stock and bond remain.