BALANCED SCORECARD AND ANALYTIC NETWORK PROCESS IN PERFORMANCE MEASUREMENT AND STRATEGY EVALUATION: A CASE STUDY.

Performance measurement is the key component of the economic system of an enterprise. Modern business environment imposes the need to continuously find and define new concepts and models of performance measurement in order to increase the overall efficiency of the enterprise. The recession and the related economic and production difficulties the enterprises are currently facing require a deep reconsideration of the business models and managerial approaches adopted to increase the enterprises' growth and value creation. The efforts of modern management in the 21st century have been aimed at developing a wide range of models that allow managers to control, understand, and coordinate the functions of enterprises' value chain as well as integrating the models in accordance with the strategic perspective, such as the balanced scorecard (BSC) model. This paper attempts to integrate the BSC model and the analytic network process using selected enterprises in Serbia as the example. The findings of the study will show that the strategy selection is the result of the total performance calculated according to individual performance scores based on four different interrelated perspectives: financial, customer, internal business processes, and learning and growth. [ABSTRACT FROM AUTHOR]