Financial Perspective in the System for Measuring Organizational Performance – Case Study Food Industry in Republic of Macedonia

Dr.Sc. Marija Midovska Petkoska, Dr.Sc. Snezana Mojsovska, Dr.Sc. Dragica Odzaklieska

Abstract


Systems for measuring and managing organizational performance are designed to help managers in this complex business environment. Organizational performance as a category must be considered from multiple perspectives. Today, most of the designed systems for measuring organizational performance have an integrated and balanced approach to the measurement. They incorporate multiple perspectives for measuring. This is primarily due to the multidimensionality of the concept. The financial perspective is one of the most important perspectives in any system for measuring organizational performance. This perspective was the only one perspective for measuring performance in the past. That's why it still has the primacy among other perspectives today.

The main aim of this paper is to research the role of the financial perspective in the systems for measuring organizational performance, with special accent on the designed adaptable system for measuring organizational performance in the companies of food industry in the Republic of Macedonia. The paper continuous to research the most common Key Performance Indicators used by the companies in this industry when it comes to financial perspective. In the end the paper researches the relationships between selected indicators.


Keywords


financial perspective; organizational performance; performance measurement and management; systems;

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DOI: 10.21113/iir.v9i1.474

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Copyright (c) 2019 Dr.Sc. Marija Midovska Petkoska, Dr.Sc. Snezana Mojovska, Dr.Sc. Dragica Odzaklieska

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