Background: Small and medium-sized enterprises (SMEs) play a significant role in the economy of any country, with their economic importance and contribution continually growing. Knowledge management (KM) is becoming increasingly important as a factor in the development and sustainability of these enterprises. However, SMEs still insufficiently apply knowledge management practices. This paper analyzes the application of knowledge management (KM) processes in small and medium-sized enterprises (SMEs) in Serbia, with a focus on key factors influencing successful implementation. Purpose: The aim of this paper is to analyze and determine the level of development of knowledge management processes in small and medium-sized enterprises in Serbia, as well as to identify the factors influencing its implementation, in order to explore possibilities for improving the current state and practices within SMEs. Study design/methodology/approach: The research was conducted on a sample of 171 SMEs using surveys and interviews as research instruments. The collected data were analyzed using descriptive statistics, correlation, and regression analysis in SPSS software. Findings/conclusions: The results show that the knowledge management process in SMEs is still underdeveloped. Correlation analysis confirmed the existence of a statistically significant relationship between KM implementation and several key influencing factors. Regression analysis further confirms that leadership support - identified as having the strongest impact - is the key factor positively influencing KM implementation in SMEs. The obtained results indicate the need for a systematic approach and strategic support from management in order to improve knowledge management practices in the SME sector, which represents a significant development opportunity for enhancing competitiveness in this sector. Limitations/future research: Study limitations include the specificity of the sample and the local context, which makes it more difficult to generalize the results to SMEs in other countries. The underdevelopment of knowledge management practices and understanding in Serbian SMEs, as well as the limited awareness of this field among managers, further restricts the applicability of the findings. Additionally, reliance on respondents' subjective opinions may lead to bias in the answers.
Rošulj et al. (Thu,) studied this question.