Determination of the effectiveness of the realization of enterprise business objectives and improvement strategies in an uncertain environment

Abstract

Abstract This study determines the effectiveness of business objectives and key performance indicators (KPIs) of the identified business objectives for different types of enterprise. The evaluations of the relative importance of KPIs are called a fuzzy group‐decision‐making problem. The KPI weights are determined using the fuzzy analytic hierarchical process. The effectiveness of business objectives and KPIs is determined using the adopted Balanced Scorecard Designer Pro. Determination of the KPI rank with respect to each enterprise type is on the basis of Pareto analysis. The priority of management initiatives of the improvement strategy corresponds to the calculated rank, and it has a critical effect on the competitive advantage of any enterprise. The results discuss manufacturing, public and service enterprises, which exist in central Serbia. The proposed approach can also be adapted to different businesses.

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