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Building High Performance Strategy of Military Expenditures: The Utility Function in the Middle of Defence Budgeting

Author

Listed:
  • Maritana Sedysheva

    (Estonian Business School, Estonia
    Euroacademy, Estonia
    Estonian Defence Forces, Estonia)

Abstract

The present paper proposes tasks and methods which can be used in process of discovering the most expedient variants of the perspective and effective strategy development process of the defence spending in the Republic of Estonia.The author offers a part of strategy model named “Financial Perspective” as one of the improvement tools for the system of planning military expenditures and effective utilization of budgetary funds. The Balanced Scorecard application by using the “utility function” will allow the Estonian Defence Forces to overcome important barriers to strategy implementation by interrelation of military planning and budgeting processes. The Balanced Scorecard might be used as a very strong practical application. It will improve the calculations of long-term perspective plans and the development of the military budgetary policy by taking into account the features of national defence expenses.

Suggested Citation

  • Maritana Sedysheva, 2011. "Building High Performance Strategy of Military Expenditures: The Utility Function in the Middle of Defence Budgeting," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 11(4), pages 271-286.
    • Handle: RePEc:pet:annals:v:11:y:2011:i:4:p:271-286
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    References listed on IDEAS

    as
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    3. Schoemaker, Paul J H, 1982. "The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations," Journal of Economic Literature, American Economic Association, vol. 20(2), pages 529-563, June.
    4. Kald, Magnus & Nilsson, Fredrik, 2000. "Performance measurement at Nordic companies," European Management Journal, Elsevier, vol. 18(1), pages 113-127, February.
    5. Watada, Alley E., 1973. "Measuring Quality Objectively And Nondestructively," Journal of Food Distribution Research, Food Distribution Research Society, vol. 4(2), pages 1-4, February.
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    More about this item

    Keywords

    balanced scorecard; budgeting; defence forces; the utility function; performance measurement; IT technology; Estonia;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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