Hidden Champions of Montenegro

Milorad Jovović, Bojana Femić-Radosavović and Nikola Mišnić
Additional contact information
Milorad Jovović: University of Montenegro
Bojana Femić-Radosavović: United Minds Academy CEO
Nikola Mišnić: University of Montenegro

A chapter in Hidden Champions in Dynamically Changing Societies, 2021, pp 295-311 from Springer

Abstract: Abstract Montenegro has a small open economy, characterized by a small domestic market. Montenegro depends to a large extent on imports, which results in a negative trade balance. That negative balance is partly mitigated by the positive balance in the service sector. We have identified two hidden champion companies in Montenegro: Marina Porto Montenegro in the tourism sector and Domen in the ICT sector. Marina Porto Montenegro is a luxury marina for yachts, superyachts, and megayachts, located in Tivat, in the Bay of Kotor. In the market segment of superyachts and megayachts, Marina Porto Montenegro is the market leader in the Adriatic Sea region. Domen is a joint venture that was founded in 2008 by Afilias Limited, GoDaddy.com (foreign partners), and ME-net (a domestic partner) which does business as a “.me” registry. Domen is the market leader in the region in terms of number of registered country code top-level domains (CCTLD) and is ranked third in Europe in terms of CCTLDs registered outside of their home country. Both companies were founded after the Montenegrin declaration of independence in 2006. In a relatively short period, they have achieved a leading position in competition with companies from other regional countries. The clear visions of both companies’ founders, operationalized through a well-chosen and implemented strategy based on a differential focus, led these companies to success. In their business success, it was of extreme importance that they identified excellent business ideas with high market potential in a timely manner.

Date: 2021
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-65451-1_20

Ordering information: This item can be ordered from
http://www.springer.com/9783030654511

DOI: 10.1007/978-3-030-65451-1_20

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().