The modern management concept Balanced Scorecard (BSC), thanks to the efficient solutions it offers, draws increasing attention from the management across the globe. BSC is a performance measurement system which unites a traditional, financial perspective with the consumer, internal business processes, and learning and growth perspectives; and provides intelligibility of the company's vision and strategic goals, strengthening of the internal communication of employees, and more efficient realization of key business activities. The implementation of the BSC concept in large enterprises is a quite simple and efficient process, while the procedure of incorporating its postulates into the structure of small and medium-sized enterprises is extremely complex and uncertain. For that reason, the aim of this scientific research is the assessment of the applicability of the BSC in small and medium-sized enterprises, with a simultaneous overview of examples of successful and less successful implementation practices, and the most frequent reasons for non-implementation of the concept itself. The research is inspired by the observation that the world literature has, to a certain extent, neglected the analysis of the application of the BSC concept in small and medium-sized enterprises. The descriptive and comparative method, the technique of analysis and synthesis, as well as analysis of the content of relevant literature of reference, national and foreign authors were used for research purposes. The result of the research is the confirmed assumption that the implementation of the BSC concept in small and medium-sized enterprises is possible but at the same time quite complex and demanding due to the influence of different variables. Accordingly, the recommendations such as that the BSC model should be simplified and burdened with a smaller number of metrics in order to become more applicable in small and medium-sized enterprises were derived in the research.
According to the covering concept of sustainable development, green economy and green finance as products of harmonized development of economy, society, and principles of environmental protection in the 21st century are the driving force of economic prosperity of both, developed and developing countries. Strengthened global capital market oriented towards sustainability highlights the commitment of society's concern about six key environmental systems: energy, transport, water, waste and pollution control, construction and industry, agriculture and forestry; and green bonds as the latest "fashion" of sustainable green financing are standing out as an ideal instrument for fulfilling most of the desired economic-environmental goals. The use of these securities ensures economic efficiency, which is, in turn, organized in a way that fully complies with the environmental, and therefore with the principles of sustainability. Accordingly, the aim of the research is to assess the current level of development of the global and national green bond market, and to analyze the conditions for "market exploitation"of these financial instruments in the future. The relevance of the research is supported by the fact that the sustainability principles rapidly begin to be implemented in all spheres of finance, and that the popularity of green securities, primarily green bonds, has been growing dizzyingly in the last few years. The descriptive and comparative method, inductive-deductive method, as well as analysis of the content of the literature of reference authors in the relevant field, were used for the research purposes. The result of the research is the confirmed assumption that the global green bond market is developing exponentially, that such a trend will be continued in the future, and that there are capacities, as well as justified expectation that the Republic of Serbia will start forming a stable market of green securities in the near future.
The integration of the social, economic, and environmental dimension of business into day-to-day business operations is a basic feature of corporate social responsibility. The new millennium saw the concept of social responsibility introduced in the Serbian banking sector. Originally perceived as a risky and intriguing phenomenon, today it is an indispensable part of many Serbian banks' business. For this reason, the aim of the research is to assess the level of implementation of corporate social responsibility in the Serbian banking sector. The sample consisted of a number of active and systemically important banks in the Republic of Serbia. We examined the propensity of Serbian banking entities to behave responsibly towards the community, the environment, their employees, investors, clients, and suppliers. For the purpose of this research, descriptive statistics, analysis and synthesis techniques, and a detailed analysis of scientific publications by Serbian and foreign authors from the relevant field were used. The results supported the premise that the Serbian banking sector exhibits a high level of implementation of socially responsible behavior, with a tendency towards further growth. This business behavior, generally speaking, indirectly affects corporate performance, stakeholder loyalty, and the reputation of the financial institutions.
Epitet klasičnih i dominantnih, a pritom i najzastupljenijih institucija na finansijskom tržištu već vekovima pripada bankama. Kako bi u savremenim uslovima finansijska institucija ovog tipa zadržala ključnu ulogu i izborila se za bolju tržišnu poziciju među jakim konkurentima, neophodno je da svoje poslovanje zasnuje na principima efikasnog upravljanja resursima. Preciznije, brojni autori su stava da je u 21. veku diferenciranje i ostvarivanje konkurentske prednosti banke moguće jedino uz kvalitetne, motivisane i adekvatno organizovane ljudske resurse. Menadžment ljudskih resursa je, stoga, funkcija kojoj ambiciozne banke trebaju posvetiti posebnu pažnju. Cilj istraživanja usmeren je ka isticanju značaja koji menadžment ljudskih resursa može imati u procesu sticanja tržišne konkurentske prednosti banke. Za potrebe izrade rada korišćene su deskriptivna metoda i tehnika analize i sinteze, a vršena je i detaljna analiza sadržaja dostupne domaće/strane literature. Rezultat istraživanja je potvrđen stav da kvalitetno upravljanje ljudskim resursima pozitivno utiče na sticanje konkurentske prednosti banke na tržištu.
The issue of adequate measurement of the use of intangible assets and monitoring its impact on the financial performance of the organization in recent decades is bridged by a measurement-managerial model that unites financial and non-financial performance indicators - Balanced Scorecard (BSC). Since this paper focuses on banks as representatives of specific, modern financial organizations, the subject of research is to examine the possibility of applying this model in the analysis of banking performance. The aim of the research is to analyze, by using the qualitative methodology (review of existing papers in the literature), whether the BSC model is applicable for the analysis of banking performances; and then, by using the quantitative methodology, through connecting two perspectives of the same model (perspective of internal business processes and perspective of customers), to examine how the determinants of TAM model (perceived usefulness, ease of use) and determinants of SERVQUAL model (perceived security and privacy, responsibility) affect electronic banking customer satisfaction. The empirical research was conducted through the survey method on the territory of the Republic of Serbia at the end of 2020, and the sample included 324 respondents. Statistical software SPSS Statistics was used to process the collected data. Based on the literature review, it was found that the BSC model is applicable for the analysis of banking performances. The results of the empirical research have shown that perceived usefulness, perceived security and privacy, and responsibility have a positive statistically significant impact on the satisfaction of electronic banking users, while ease of use does not have a statistically significant impact on the satisfaction of mentioned users.
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