FINANCIAL BENCHMARKING THE EXAMPLE OF CONFECTIONERY INDUSTRY COMPANIES
DOI:
https://doi.org/10.5937/ekoPolj1404037VKeywords:
benchmarking, performance analysis, confectionery industry, continuous learning.Abstract
Being a managerial tool of proven efficiency when it comes to managing companies in crisis periods, benchmarking concept is still insufficiently known and applied in the Republic of Serbia. The idea of this paper was to reveal its possibilities through the aspect of financial benchmarking, showing its simplicity and benefits even from the point of an external analyst. This was achieved through the analysis of two biggest competitors on the market of confectionery products of the Republic of Serbia, using secondary data analysis. Through multidimensional set of performance measures based on profit as the ultimate goal, but also including value for shareholders, liquidity and capitalization, we have confirmed the leaders market position and found its sources, which are the key learning points for the follower to adopt in order to improve its performance.
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References
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13.Stapenhurst, T. (2009): The Benchmarking Book, Routledge, London, UK.
14.Škarić, K. (2012): Finansijsko izveštavanje kao instrument zaštite interesa poverilaca društava grupe, Acta Economica (online), no. 16, available at:www.actaeconomica.efbl.org/broj16/e-ActaEconomica-broj16-Skaric.pdf, accessed at 05/02/2014
15.Todorović, S., Filipović, N. (2010): Economic analysis of wheat production on family farms, Journal of Agricultural Sciences, vol. 55, no. 1, pp. 79-87, University of Belgrade, Faculty of Agriculture, Belgrade.
16.Zairi, M., Leonard, P. (1994): Practical Benchmarking: The Complete Guide, Chapman and Hall, London, UK.
17.Zakić, V., Vasiljević, Z., Zarić, V. (2012): Relevance of dividend policy for food industry corporations in Serbia, Ekonomika Poljoprivrede, IEP Beograd, vol. 59, no. 4, pp. 809-822.
Websites:
18.Agencija za privredne registre Republike Srbije, available at: www.apr.gov.rs/, accessed at: 05/02/2014.
19.Beogradska berza, available at: www.belex.rs/, accessed at: 05/02/2014.
20.Centralni registar, depo i kliring hartija od vrednosti, available at: www.crhov.rs/, accessed at: 05/02/2014.
21.Bambi ad Požarevac, available at: www.bambi.rs/, accessed at: 05/02/2014.
22.Soko Štark doo - Beograd, available at: www.stark.rs/, accessed at: 05/02/2014.
23.AC-Broker ad - Beograd, available at: www.ac-broker.rs/akcije/STRK, accessed at: 05/02/2014.
2. American Productivity & Quality Center - APQC (1993): The benchmarking management guide, Productivity Press, Cambridge, USA.
3. Asian Productivity Organization – APO (2005): Benchmarking Training Manual, APO Best Practice Network, Japan, Tokyo.
4. Codling, S. (1995): Best Practice Benchmarking: A Management Guide, Gower Publishing, Ltd., Aldershot, UK.
5. Đerković, Z. (1999): Organizacija obračuna troškova i učinaka HK "Bambi", Požarevac, Institut za ekonomiku i organizaciju Inek, Beograd.
6. Jack, L. (2012): Benchmarking in Food and Farming: Creating Sustainable Change, Gower Publishing, Ltd., Aldershot, UK.
7. Jašarević, A., Ličina, M. (2013): Franchising as a business concept – chance for many in Serbia, Ekonomika Poljoprivrede, IEP Beograd, vol. 60, br. 3, pp. 523-539.
8. Maire, J.L., Bronet, V., Pillet, M. (2005): A typology of "best practices" for a benchmarking process, Benchmarking: An International Journal, vol. 12, no. 1, pp.45 - 60, Emerald Group Publishing Limited, Bingley, UK.
9. Malinić, D. (2010): Finansijski benčmarking kao instrument za unapređenje performansi preduzeća, zbornik radova: Uloga fnansijske i računovodstvene profesije u prevazilaženju krize u realnom i fnansijskom sektoru, Savez računovođa i revizora Republike Srpske, Banja Vrućica, str. 155-179.
10.Malinić, D., Milićević, V., Stevanović, N. (2013): Upravljačko računovodstvo, Ekonomski fakultet, Beograd.
11.Milićević, V. (2006): Koncept konkurentskog računovodstva, Ekonomika preduzeća, Savez ekonomista Srbije, vol. 54, br. 7-8, str. 259-271.
12.Public Entity Risk Institute – PERI (1999): Benchmarking, Best Practices and Performance Measurements for Public Entity Risk Management Guidelines, PERI, available at:www.riskinstitute.org
13.Stapenhurst, T. (2009): The Benchmarking Book, Routledge, London, UK.
14.Škarić, K. (2012): Finansijsko izveštavanje kao instrument zaštite interesa poverilaca društava grupe, Acta Economica (online), no. 16, available at:www.actaeconomica.efbl.org/broj16/e-ActaEconomica-broj16-Skaric.pdf, accessed at 05/02/2014
15.Todorović, S., Filipović, N. (2010): Economic analysis of wheat production on family farms, Journal of Agricultural Sciences, vol. 55, no. 1, pp. 79-87, University of Belgrade, Faculty of Agriculture, Belgrade.
16.Zairi, M., Leonard, P. (1994): Practical Benchmarking: The Complete Guide, Chapman and Hall, London, UK.
17.Zakić, V., Vasiljević, Z., Zarić, V. (2012): Relevance of dividend policy for food industry corporations in Serbia, Ekonomika Poljoprivrede, IEP Beograd, vol. 59, no. 4, pp. 809-822.
Websites:
18.Agencija za privredne registre Republike Srbije, available at: www.apr.gov.rs/, accessed at: 05/02/2014.
19.Beogradska berza, available at: www.belex.rs/, accessed at: 05/02/2014.
20.Centralni registar, depo i kliring hartija od vrednosti, available at: www.crhov.rs/, accessed at: 05/02/2014.
21.Bambi ad Požarevac, available at: www.bambi.rs/, accessed at: 05/02/2014.
22.Soko Štark doo - Beograd, available at: www.stark.rs/, accessed at: 05/02/2014.
23.AC-Broker ad - Beograd, available at: www.ac-broker.rs/akcije/STRK, accessed at: 05/02/2014.
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Published
2014-12-31
How to Cite
Vasilić, M. (2014). FINANCIAL BENCHMARKING THE EXAMPLE OF CONFECTIONERY INDUSTRY COMPANIES. Ekonomika Poljoprivrede, 61(4), 1037–1051. https://doi.org/10.5937/ekoPolj1404037V
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Review articles
