摘要：In contemporary globalized environment, economic development is driven by innovations. However, these revolutionary ideas are insufficiently recognized by Croatian scientific circles and therefore, not enough is done to develop instruments that would ensure their effective exploitation. Investing into intellectual capital, rather then into material capital, has become the crucial factor in creating competitiveness. Participative management, founded on a joint ownership of both the material and intellectual capital, should serve as a basis for creating a model of contemporary entrepreneurial development of Croatian economy.
关键词：economic development; science; intellectual capital; model of entrepreneurial development; participative management
