The efficiency analysis in small wineries in the Republic of Serbia

Abstract

This paper contains the attempt to evaluate the activity development efficiency of small wineries in the Republic of Serbia as insufficiently used development potential of one industry branch. Small wineries represent an activity which is currently being developed and it is expected that it will, as it is the case in developed countries, contribute to the total economic development and employment, development of brand as recognizable brand of wine from this region and start further recognizable development of this branch as family business in the country and abroad. The analysis was performed using the non-parametric linear programming model DEA (Data Envelopment Analysis). The aim of this paper is that, using the analysis of financial statements and the effectiveness of representative wineries belonging to the category of small enterprises, a rational strategic decision-making is provided.