IDENTIFIKACIJA IZAZOVA IMPLEMENTACIJE BALANCED SCORECARD-A U AVIO-INDUSTRIJI BIH
IDENTIFICATION OF THE CHALLENGES FOR IMPLEMENTATION OF THE BALANCED SCORECARD CONCEPT IN THE B&H AIRLINE INDUSTRY

Summary/Abstract: BSC is a good strategic instrument to determine what influence the value creation of the company. Given the high level of acceptance of the BSC by Fortune 1000 companies, and relatively low level of implementation in Bosnia and Herzegovina, this paper aims to investigate the organizational factors that hinder the implementation of BSC. For the identification of these factors qualitative laddering technique was used. Laddering technique specifically focuses on the relationship between the various attributes (A), consequences (C) and personal values (V). The study population were managers in the airline industry of Bosnia and Herzegovina in the period between January and May of 2014. Key management positions in the sector were interviewed. We identified five groups of factors that hinder the successful implementation of BSC: (1) inadequate human factors, (2) lack of awareness of importance of measurement, (3) lack of willingness to change, (4) lack of a strategic plan, and (5) unclear business processes. These factors are perceived as important since most of them believe that they are necessary to achieve operational effectiveness, operational efficiency, and ultimately increase competitiveness, growth and business development. Key values of respondents are: taking care of profits, achievement and system harmony. The main limitation of the study is our focus on only one industry in Bosnia and Herzegovina which has prevented the application of the results to other industries. However, scientific workers and managers can benefit by this study since it represents starting point for identifying the theory and practice that will help organizations achieve better business results by applying BSC.

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