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2012, vol. 6, iss. 1, pp. 325-346
Balanced scorecard analysis encouraging entrepreneurship in Serbia, based on pharmaceutical model
aEducons University, Faculty for Service Business, Sremska Kamenica
bBeogradska poslovna škola, Visoka škola strukovnih studija, Beograd

emailjelenajotic@gmail.com, slobodan.andzic@bbs.edu.rs, nebojsa.pusara@gmail.com
Keywords: financial ratios; 'Balanced Scorecard' analysis; ratio analysis; liquidity; solvency; results of operations; strategy; entrepreneurship
Abstract
Growing needs of business in the modern economy cannot be satisfied by the traditional concepts of performance measurement business. Many authors (Kaplan i Norton, Fisher, Leandri, etc.)Find that a lot of information that are based on traditional financial and cost criteria, are insufficient to ensure successful business management in a competitive global market (Dmitrović and others, 2007, p. 160). With the development of business along with changes in business environment, the ways of evaluating the performance of companies are changing as well. Industrial period was characterized by the traditional method of performance success measurement. It was based on accounting data. Now days a number shortcomings are found by theorists. A number of shortcomings and possibilities of using accounting data are the reason why the modern performance measurement models of success have been developed, based both on financial and non financial data. For this reason, this paper presents a modern system of indicators for measuring and presenting financial results of entrepreneurship. Through the Balanced Scorecard analysis, on the example of private pharmacies, as an important part of entrepreneurship in Serbia, the system for performance success measurement was presented.
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article language: Serbian
document type: Original Scientific Paper
published in SCIndeks: 22/03/2013