Vesna Miladinović
Belgrade Business School, Belgrade, Serbia
Katarina Lazović
Faculty Futura, Belgrade, Serbia

4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia;  Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7


The Excellence model is a framework in which organization score points based on various criteria that embody a set of best practice core values on sustainable development. The framework is structured to show both Result Criteria (performance and the Enabling Criteria that drive these performance). It places a participate people issues within organizations – Leadership. People Management and Impact upon Society account for over a third of the possible overall score.
In these context we analyse sustainable development which is very complex system. First point is finish policy of sustainable development. Second point are instruments of sustainable development. And last point is government policy. In this case we expect clearly instruction by government.
Many actors are in process environmental management, but government is first. Government policy has legislative and ecologies instruments. Low regulates rules on market with payments – taxes and other responsible measures.

Key words

business, excellence, model, sustainable development