engleski

The scorecard approach of translating business strategy into appropriate actions

Today, we are confronted with dramatic growth of competition struggle on the market for the purpose of enterpsises' survival. The business performance appraisal by using traditional indicators, which are bases on past events, is not sufficient any longer. New models are being searched in order to integrate internal capacity with indicators of future performance enterprise. A model which transforms setting strategic goals to the system of financial and non-financial measures and criterion, enables balanced measurement of efficiency. One of the very successful models in balance scorecard, which has to be adjusted depending on enterprise specific quality and environment condition. Inplementation of balanced scorecard model in business performance of enterpsise in transitional countries needs to add new measures to meet their requirements. However, these enterprises should be willing to go through cultural changes.

business performance approach; balance scorecard; business strategy

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