The 2011 anti-crisis program and strategy for sustainable development: Serbia 2020

Abstract

In the post-crisis world sustainability is a key word. The new reality in the global economy reflects a paradigm change, a shift from macroeconomic stability toward dynamic management. Escape from the crisis also requires refocusing from inflation (low and stable) toward intelligent investments, both in public and private sector as well as a strategic smart state. The new purpose of companies must be creating shared value which means interaction between value creation and societal progress. Serbia's economy is in the combined crisis. This is the consequence of transitional stressors and global economic crisis ones. Escape from combined crisis asks for anti-crisis program and new strategy for sustainable economic development. Complexity of interactions between relevant risk factors as well as their evolution requires Balanced Scorecard, well known holistic tool for strategy formulation and implementation. The purpose of this paper is to point at key tenets that the strategy should hit, their mutual interdependencies and feasibility, as well as the main iniciatives which contribute to that.