Review article
https://doi.org/10.46672/zsl.6.6.12
Contemporary approaches in observing business performance from an entrepreneurial perspective
Bojan Morić Milovanović
orcid.org/0000-0001-7676-6983
; Institut za javne financije
Abstract
Measuring business performance still represents a significant challenge for both the scientific and business communities. Empirical research clearly indicates the multidimensional aspect of business performance, however does not provide an agreement which dimensions constitute the concept itself. The objectives of the paper are following: (1) to present a detailed literature review on the historical development of the business performance as a concept taking into account traditional and contemporary perspectives, (2) to provide an overview of the main advantages and disadvantages of various performance measures, (3) to present a detailed description of business performance within an entrepreneurial context where the emphasis is placed on the most significant approaches to researching the concept of business performance. It can be concluded that the literature still does not provide a unique and unambiguous view of what is the best; measure of business performance, nor does it provide a clearly defined model by which business performance could be entirely explained. The paper is intended for the wider academic and business community interested in researching the concept of business performance, including its theoretical and practical applications.
Keywords
business performance; performance indicators; multidimensionality; entrepreneurship
Hrčak ID:
269341
URI
Publication date:
28.12.2021.
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