Decision making on foreign direct investment (FDI) is a strategic decision for the country, the company, but also the individual, which is strategic. Where to invest, how and when, certainly depends on economic conditions and economic freedoms. Foreign direct investments represent a value of 357 million euros in 2019, representing a significant factor in the overall development of Bosnia and Herzegovina (BiH). Expectations of an increase in the level of foreign investment are also based on the level of economic freedoms. The research results show a significant impact and positive correlation of economic freedoms on strategic decisions on foreign direct investment in Bosnia and Herzegovina. The role and importance of the impact of economic freedoms on strategic decisions on foreign direct investment became especially important in the conditions of the COVID 19 coronavirus pandemic, when strategic decisions were coupled with even greater risks and sensitivity. The COVID-19 pandemic affected foreign direct investment in the world and expectations regarding the trend of foreign direct investment in BiH. According to preliminary data from the Central Bank of BiH for the first half of 2020, FDI is lower by 46.7% compared to the same period in 2019. Foreign direct investment in less developed countries such as BiH will be under additional pressure in 2020/2021, due to the impact of the COVID 19 pandemic. The decline in global foreign direct investment in 2020 and 2021 is estimated at 30-40% as a result of the pandemic. The results of the research cover the period from 1998 to 2020, and show the existence of a positive correlation between these variables. The analysis used an econometric model of multiple correlation analysis Pearson Correlation.

Background: As one of the world's most important economies, China has faced the problems and challenges caused by geopolitical changes, the consequences of the COVID-19 coronavirus pandemic, financial crises and other challenges in the last decade to the fullest extent. An overview of previous research studies shows the effects of partial elements of economic freedom on the financial performance of China's development. The focus of our research is on a strategic approach to the given problem, taking into account the possibility of modeling and improving the situation in response to new challenges and problems in the future. Purpose: The focus of the work is aimed at measuring the impact of economic freedoms on foreign direct investment decisions and the financial performance of China's development. Based on that, the main goal of the work is to model and determine new elements for improving the model based on a strategic approach. Study design: The research revealed that a strategic approach through the elements of economic freedom is an important factor of the model we investigated and represents the improvement of the situation and can contribute to the improvement of the financial performance of China's development. Findings: Based on the research, we obtained the result of a high degree of direct dependence and a positive correlation of the impact of economic freedom and strategic decisions on foreign direct investment on the financial performance of China's development. Economic freedoms represent a significant influencing factor and provide opportunities for the improvement of a model based on a strategic approach. Limitations: The limitations of the research refer to the unpredictable state of geopolitical changes in the world, which directly reflect on many factors of the model. Future research directions can be directed towards measuring which countries make up the largest part of China's foreign direct investments, as well as how much their influence is.

U menadžmentu postoji veliki broj različitih pristupa, pravaca, škola i teorija, usmjerenih ka poboljšanju rezultata upravljanja pojedinim procesima u preduzeću. Analizirajući trendove poslovanja uspješnih preduzeća u svijetu, uviđamo potrebu restrukturiranja preduzeća. Restrukturiranje pojedinih oblika strategije, strukture ili pozicije preduzeća u većini slučajeva kod nas nisu dali zahtijevane rezultate. Iz tog razloga ističemo potrebu za strategijskim pristupom u upravljanju procesom restrukturiranja preduzeća. Strategijski pristup mora biti shvaćen kao specifična upravljačka filozofija ili koncept, koji su imanentni svim poslovnim procesima i prožimaju cijelu organizaciju. Povećanje fleksibilnosti i spremnosti na promjene predstavljaju prvi uslov ulaska u procese restrukturiranja preduzeća. Analizirajući rezultate procesa restrukturiranja domaćih i stranih preduzeća, uočili smo nedostatke upravo strategijskog pristupa, što predstavlja i misiju rada. Takođe, rad ima za cilj da ukaže na ocjene i poziciju Republike Srpske i BiH u procesima restrukturiranja u odnosu na druge tranzicione zemlje.

The focus of the paper is on the analysis of the importance and impact of strategic management and strategic decision-making on the survival, recovery and exit from the crisis of companies in Bosnia and Herzegovina, formed under the influence of coronavirus COVID 19. Many companies in Bosnia and Herzegovina were unprepared, not having a strategy at all. The aim of this paper is to point out the importance of strategic management and general strategic thinking in order to survive the companies of Bosnia and Herzegovina in crisis. The methodological concept of the research includes the method of estimating the proportion of the basic set on the basis of large samples, the method of comparative analysis, the method of deduction and the method of statistical analysis. The results of the research show that companies that have a strategy and manage strategically endured the crisis more easily. The results show a direct connection between strategic management - overcoming the crisis and recovery or growth and development of enterprises, which affects the economic development of Bosnia and Herzegovina. Such companies found a way out of the crisis more easily. Strategic management has not even led to the crisis some of them.