Development Possibilities and Constraints of Croatian Management in the European System of Corporate Governance

In the recent conditions of dynamic technological and scientific development, management has developed an entrepreneurial technology of production and intellectual capital management – the fundamental source of competitiveness. By taking over the entrepreneurial role, previously belonging to the owners of the material capital, contemporary management, in addition to developing its social function, has become the initiator of the development of science, institutions and systems of value. The development of the competitiveness of Croatian economy in the institutional, social and cultural environments of the EU has brought about the need to institutionalize the dominant role of management in the supervisory systems of corporate governance. The development and protection of creative entrepreneurial management within the European system of corporate governance demands an institutional regulation of the position of intellectual capital, the management's role and social responsibility depending on their role in the production of the company's and overall society's added value