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post-title BUILDING HIGH PERFORMANCE STRATEGY OF MILITARY EXPENDITURES: THE UTILITY FUNCTION IN THE MIDDLE OF DEFENCE BUDGETING http://maritana.online/wp-content/uploads/stratefy.jpg 2017-07-01 14:57:53 yes no Posted by Categories: Article, Balanced Scorecard, Management, Military, Utility Function

BUILDING HIGH PERFORMANCE STRATEGY OF MILITARY EXPENDITURES: THE UTILITY FUNCTION IN THE MIDDLE OF DEFENCE BUDGETING

Posted by Categories: Article, Balanced Scorecard, Management, Military, Utility Function
BUILDING HIGH PERFORMANCE STRATEGY OF MILITARY EXPENDITURES: THE UTILITY FUNCTION IN THE MIDDLE OF DEFENCE BUDGETING

ABSTRACT

The present paper proposes tasks and methods which can be used in process of discovering the most expedient variants of the perspective and effective strategy development process of the defence spending in the Republic of Estonia. The author offers a part of strategy model named “Financial Perspective” as one of the improvement tools for the system of planning military expenditures and effective utilization of budgetary funds. The Balanced Scorecard application by using the “utility function” will allow the Estonian Defence Forces to overcome important barriers to strategy implementation by interrelation of military planning and budgeting processes. The Balanced Scorecard might be used as a very strong practical application. It will improve the calculations of long-term perspective plans and the development of the military budgetary policy by taking into account the features of national defence expenses.

KEY WORDS: balanced scorecard; budgeting; defence forces; the utility function; performance measurement; IT technology; Estonia.

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