PRIMENA BALANCED SCORECARD MODELA U BANKARSKOM POSLOVANjU

Abstract

The process of market globalization has reduced the importance of national borders and enabled banks to internationalize their operations. When performing on the foreign market, the management of the bank faces certain changes, because the domestic and foreign markets are significantly different in terms of cultural characteristics, economy systems and legal regulations. It is necessary for the bank’s management to implement a model that includes tangible and intangible assets, in order to apply an integrative and holistic approach and to look at the bank’s operations in a comprehensive way. The Balanced Scorecard model represents a modern control mechanism and consists of four perspectives: the financial perspective, the customer perspective, the perspective of internal business processes and the learning and growth perspective. Each perspective contains a large number of business indicators, which help the bank’s management when formulating and implementing a business strategy, which should enable successful and profitable business. The aim of the paper is to define and list the most significant features of the Balanced Scorecard model, as well as to connect the perspective of learning and growth with the financial perspective, where the impact of the skills and competencies of employees, represented by the intellectual capital (VAIC) and the bank’s human capital (HCE) on some of the most important financial indicators, the rate of return on total invested assets (ROA) and the rate of return on total invested capital (ROE). Also, the emphasis will be on connecting the perspective of internal business processes with the perspective of customers, and for these purposes, and empirical survey was conducted using the survey method on the territory of the Republic of Serbia. A total of 218 respondents who are clients of certain banks took part in the survey and based on their answers, it is determined which are the most important determinants of electronic banking that affect client satisfaction. Due to the Ukrainian crisis, social unrest and instability of the financial market, the Balanced Scorecard model can be good solution for controlling the operations of banks, while due to the Covid-19 virus pandemic, electronic banking is gaining importance because it allows performing electronic transactions from home. Based on the above, the research takes into account current global developments and offers important practical implications for banking service providers.