Creation of indicators balanced system as a tool of strategic and operational management for the metallurgical enterprises

Abstract

The main purpose of financial analysis is to obtain a certain number of key parameters, giving an objective and accurate picture of the company financial condition, its profits and losses, changes in the structure of assets and liabilities, in settlements with debtors and creditors. In the assessment of company current financial condition plays a special role the forecast both short and long-term. However, according to the statistical surveys more than half of the companies can not be ensure in the implementation of their strategic plans. The strategic objectives set at the upper management level, but not brought to the attention of employees and are not included in the plans for their work, risk to remain just a declaration of intent to the company’s management. The implementation of strategic initiatives, are not provided with the necessary financial resources, it could take years and does not lead to the expected result. New conditions and new business challenges require the introduction of new, more effective tools for strategic management. The most interesting of these is the Balanced Scorecard. The system provides the ability to manage not only financial performance, but also intangible assets, manage, not in isolation of each goal or aspect, but on the basis chains of cause and effect relationships between them. For each goal, the financial component is formulated specific purpose (or more goals) in the client component providing the first achievement. In turn, each target client component is supported by the relevant part of the objectives of internal business processes, and for this purpose provided the objectives of training and development component. This approach to formalization strategy significantly increases the chances to implement it.