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Research On The Application Of The Balanced Scorecard Among The Croatian Companies

Author

Listed:
  • Najla Podrug

    (University of Zagreb)

  • Ivona Vrdoljak Raguz

    (University of Dubrovnik)

  • Ivana Pavkovic

Abstract

The Balanced Scorecard concept was developed in the early 1990s as a tool that enables companies to clarify their vision and strategy. The Balanced Scorecard is a communication tool, a measurement system and a system of strategic management. The experience of many companies that have applied this model is a proof that the Balanced Scorecard may advance the company's business if introduced seriously and in the right manner. The research on the application of the Balanced Scorecard has shown that a large majority of managers in Croatian companies are familiar with Balanced Scorecard, but only a small number actually apply it. The research has also proven that all companies applying the concept are satisfied with it. As the greatest benefits they emphasize: achievement of better management of the company as a whole and possibility of better monitoring and implementation of the planned strategy. This work endeavors to encourage companies to direct their business operation to the future, to start developing awareness of strategic management and understand advantages that application of this tool provides.

Suggested Citation

  • Najla Podrug & Ivona Vrdoljak Raguz & Ivana Pavkovic, 2012. "Research On The Application Of The Balanced Scorecard Among The Croatian Companies," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 21(2), pages 693-712, december.
    • Handle: RePEc:avo:emipdu:v:21:y:2012:i:2:p:693-712
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    More about this item

    Keywords

    Balanced Scorecard; Balanced Scorecard application; Croatian companies;
    All these keywords.

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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