Review article
Enterprise performance measurement systems
Milija Bogavac
; The Union University in Belgrade, Faculty of Industrial Management, Belgrade, Serbia
Ljubomir Miljković
; The Union University in Belgrade, Faculty of Industrial Management, Belgrade, Serbia
Zoran Lalić
; Belgrade Polytechnic College, Belgrade, Serbia
Vesna Šotra
; Belgrade Polytechnic College, Belgrade, Serbia
Vladimir Stojanović
; Paneuropean University Apeiron, Banja Luka, Bosnia and Herzegovina
Abstract
Performance measurement systems are an extremely important part of the control and management actions, because in this way a company can determine its business potential, its market power, potential and current level of business efficiency. The significance of measurement consists in influencing the relationship between the results of reproduction (total volume of production, value of production, total revenue and profit) and investments to achieve these results (factors of production spending and hiring capital) in order to achieve the highest possible quality of the economy. (The relationship between the results of reproduction and investment to achieve them quantitatively determines economic success as the quality of the economy.) Measuring performance allows the identification of the economic resources the company has, so looking at the key factors that affect its performance can help to determine the appropriate course of action.
Keywords
financial ratios; quality; business performance
Hrčak ID:
127787
URI
Publication date:
3.10.2014.
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