Authors: Violeta Domanović
Addresses: Faculty of Economics, University of Kragujevac, Kragujevac, Serbia
Abstract: Managers are required to introduce various innovations in the process of evaluating company's performance over some past period and make future business decisions that would contribute to the long-term sustainability and development of the company. The question is how the managers in transition economies, such as the economy of the Republic of Serbia, address different management innovations. The paper examines whether the company managers in the Republic of Serbia are familiar with the balanced scorecard (BSC), as the most influential management innovation, whether the mentioned model is implemented in companies, as well as what reasons are behind not implementing this model in large, medium-sized and small companies. The research findings show that the managers, in general, are not familiar with the BSC model and are not aware of the importance of this model; however, there are other similar models that are being implemented in companies operating in Serbia.
Keywords: management innovations; performance measurement; balanced scorecard; companies; Republic of Serbia.
European Journal of International Management, 2020 Vol.14 No.6, pp.1070 - 1094
Received: 05 Mar 2018
Accepted: 23 Jun 2018
Published online: 26 Oct 2020 *