The role of performance measurement in the development strategy of corporate entities

• Main Authors: Dmitrović-Šaponja Ljiljana, Gravorac Saša, Milutinović Sunčica
• Format: Article
• Language: English
• Published: University of Novi Sad - Faculty of Economics, Subotica 2015-01-01
• Series: Anali Ekonomskog fakulteta u Subotici
• Subjects: development strategy; economic development; accounting aspect of development; performance measurement
• Online Access: https://scindeks-clanci.ceon.rs/data/pdf/0350-2120/2015/0350-21201533309D.pdf

Conceiving and outlining development feature as ever-present subjects within economic science, especially in view of the fact that there is no productive social development oriented to long-term goals without well-conceived economic development laid on stable foundations. To have efficient development viewed at the macro level, it is initially necessary to provide a stable micro-component of development, from the aspect of corporate entities, which will subsequently reflect positively on the macro aspect of economic development. This is where it can be freely stated that there can be no productive development of society as a whole without effective and efficient development of each individual corporate entity. This paper will analyse the basic development strategies available to all corporate entities, highlight and underline the role and significance of accounting in defining the development strategy of corporate entities, and point out the ways in which a well- devised and established performance measurement system can contribute to the development of each individual corporate entity.