Business Performance Management System Research Articles

КОНЦЕПЦИЯ УПРАВЛЕНИЯ СТЕЙКХОЛДЕРАМИ В СИСТЕМЕ СТРАТЕГИЧЕСКОГО УПРАВЛЕНЧЕСКОГО УЧЕТА И АДАПТИВНОГО БЮДЖЕТИРОВАНИЯ

In the process of developing a strategy and overall positioning of a business in the market, it is increasingly difficult for management to respond to the non-deterministic external conditions of functioning. Most of the factors influencing economic activity are connected precisely with the relationships that create demand, as well as ensure the dynamics of innovation. Therefore, it is important to consider the concept of stakeholders in the framework of strategy development, adaptive budgeting, strategic management accounting and the definition of reporting forms, since any business needs to understand what value it forms in the eyes of others. To this end, the article examines the concept of stakeholders and suggests ways to integrate it into the business performance management system, strategic management accounting of business processes and adaptive budgeting on the example of electrical industry enterprises. In particular, the typology of stakeholders is considered, the structure of management of the main groups of stakeholders on the basis of responsibility centers in the process of implementing elements of strategic management accounting and adaptive budgeting is presented, using the example of a company that produces electrical products. Special attention is paid to the factors of business performance reduction and the author’s approach to establishing direct and feedback KPIs in the context of stakeholders and responsibility centers (CS) is proposed on the example of a company that produces electrical products.

Analysis of the business performance management systems

Analysis of the business performance management systems

QUALITY BENCHMARKING IN BUSINESS PERFORMANCE USING SURVEYING TECHNIQUE – REVIEW

In today’s scenario every business organization will try to establish their own objectives/Goals for successful execution in every stage of business performance management system. Benchmarking plays a major role in today’s high competitive work culture in order to compare the actual performance or output against the known standards. Using benchmarking tool we can assess the performance of business process by measuring the quality of resources, cost of resources, Market share assessment and customer satisfaction level etc are some of the factors which are strongly considered for evaluation. With the help of this tool we can find out the strength and weakness of the organization. In this paper attempt has been made to conduct survey analysis based on literature review information. The study is focused on the performance of engineering educational institutions in India with strong vision and mission statements. Hence a detailed survey form is designed using Google form applications with all parameters.

Business Performance Management in Small and Medium-Sized Enterprises in the Slovak Republic: An Integrated Three-Phase-Framework for Implementation

Business performance management (BPM) is an instrument that allows the fulfillment of business objectives and the improvement of competitiveness in small and medium-sized enterprises (SMEs). When BPM is implemented and measured, it can improve the sustainability and competitiveness of the enterprise. Despite its potential benefits, the possibilities of BPM in SMEs are often underestimated due to the lack of resources (mainly personal or financial). The goal of this paper is to introduce a framework for the implementation of BPM in Slovak SMEs based on research on transportation SMEs. To this end, certain steps that support the efficient introduction and use of BPM in these SMEs will be proposed. Our proposal regarding the performance of BPM is based on the findings of previous research studies along with the results of own questionnaire surveys and personal meetings/interviews with owners/managers of transportation SMEs. The results of this research shows that SMEs are generally not familiar with BPM and how the system is used. Essential elements to implement BPM are lacking in SMEs, and although the BPM system might help these firms improve their competitiveness, SMEs remain uniformed about the advantages of BPM. The proposed framework of BPM implementation in this paper can be used to inform SMEs and to assist them in their decisionmaking processes regarding the application of this system.

Философия JIT в современных системах управленческого учета затрат и результатов

Currently, traditional cost accounting methods are losing their relevance. Modern production environment is unpredictable and customer-oriented. Product life cycle becomes shorter, and consumers’ tastes are more capricious and fickle. All these factors suggest the need for flexible and adaptive control schemes. Successful decision-making is determined by well-built cost accounting system. The article proposes on the basis of the symbiosis of “just-in-time” approach, adherence to the principles of continuous improvement, and cost accounting methods — Kaizen-costing, standard-costing, target-costing, time-driven activity based costing, backflush accounting and value stream costing — to develop business performance management system that meets the needs of the modern business environment. The principles of continuous improvement, integrated into «Just In Time” management system, expand the horizon of opportunities for strategic management accounting. Zero-inventory philosophy, combined with flexible and adaptable management schemes, can also provide a powerful competitive advantage. The article recommends a system of key performance indicators to monitor the implementation of “Just in Time” philosophy in the symbiosis with these cost accounting methods. Zero-inventory approach has a number of drawbacks. However, integration of concepts with advanced cost accounting techniques will partly offset these shortcomings. The purpose of the article is to study the possibility of integration of «Just in Time” philosophy and advanced cost accounting methods, with respect to their features and peculiarities. The theoretical basis is the hypothesis of improving business performance management system based on “Just in Time” management approach, through its integration with the principles of continuous improvement and modern management approaches, quality assurance and approval. The main result of the article is an enhanced management accounting tools that allow to respond to changes in the environment of the company, develop measures aimed at adapting to these changes and ensuring compliance with the company’s strategy.

Strategic Business Performance Management System in Wood Processing Industry in Slovakia

Measuring and managing of business performance is a complex and difficult process, which at the present time passes through signifi cant changes in theory and practice. Previously used indicators, methods and models were mainly based on fi nancial indicators and methods of financial management. The problem of proving and relatively accurately quantifying the impact of financial indicators for the overall business performance in theory and practice of management has been fairly well solved. However, to identify and quantify the impact of qualitative non-financial indicators and methods of the management on the overall performance has so far been an issue that requires further scientific research in specific conditions of Slovak wood-processing industry. Based on statistical results of our research, wood processing industry enterprises should apply the selected methods and models of strategic business performance management. By applying the selected strategic methods and models, such as Balanced Scorecard, Business Intelligence, strategic planning and controlling, innovations and others, wood processing companies in Slovakia will achieve a better performance

Revisiting performance measurement and management: deriving linkages with strategic management theories

The interest in performance measurement and management (PMM) has notably increased in the last two decades. The purpose of the paper is to revisit the research and knowledge base of the last two decades related to performance measurement and management and exploring the linkages with theories related to strategic management. A critical analysis of existing performance management frameworks has been carried out and an attempt has been made to derive linkages with strategic management theories. Ten PMM frameworks have been selected for the study, and some classical strategic management theories have been chosen for exploring the linkages of two areas, i.e., strategic management and performance measurement and management. The linkages with strategic management theories help to reflect the relationship between strategy and firm’s performance. The analysis carried out in the study reflects that most of the PMM frameworks follow resource-based view theory, and developments happened post 2000 considered stakeholder theory by inclusion of all the stakeholders, but still the PMM frameworks lack strategic orientation which is an eye-opening result that came out of the study. The results of the study can be validated by one of the empirical studies by Thaker (2011) stating that still business performance management systems are satisfying tactical purposes and are lacking in strategic thinking.

A Value-added Business Performance Management System with Adaptive Ubiquitous Technologies

A Value-added Business Performance Management System with Adaptive Ubiquitous Technologies

Perspectives on Performance Management

Dear readers, Presenting a research paper at international conference and publishing it in the prestigious academic journal, both represent outstanding opportunity for researchers to bring out their research results and share them with other experts. It is really valuable tradition to publish sound and innovative conference papers in leading academic journals. Thanks to such tradition, progressive ideas can be disseminated all over the researchers’ community and thus, the journals can initiate and support future research directions. Considerable synergy effect can be realized as the result of such mutual collaboration. Following these reasons, it is our great pleasure to introduce this volume of European Financial and Accounting Review which includes selection of papers presented at the research forum of 5th International Conference Integrating Perspectives on Performance Management. Selection of papers is based on careful peer review among 25 papers presented at the conference. The conference has been organized by Management Accounting Department and under the auspices of Prof. Richard Hindls, rector of the University of Economics, Prague from 10th to 12th September 2008. Papers published in this volume show the variety of topics corresponding to performance management issues. The reason for that is evident. In global economy with strong competitive pressures, concepts and methods for managing and controlling all external as well as internal performance factors and determinants shall be considered in an integrated business performance management system. To achieve the organizational performance goals belongs to crucial dimension of everyday job for each manager and executive rather than to task for individuals in finance and controlling area. Browsing the papers, many particularly interesting topics are announced. In the first paper Bartlomiej Nita is searching for the comprehensive set of criteria - requirements which should be fulfilled by modern corporate performance management system regardless of concrete type of organization. Following the same issues Jaroslav Wagner deals with “conceptual framework questions” which should be serviceable as start-point for design and analysis of the performance measurement system. Financial markets belong to really important sector of business nowadays. The next paper of Eleftherios Thalassinos analyses how changes in European financial sector influence the requirements on their organizational performance. Shifting our attention to public educational sector, in the last paper, Sanna Pekkola and Juhani Ukko aim to create a measurement system which can be used for evaluating the effectiveness and innovative capability of the university consortium. How to set appropriate transfer price in large multibusiness enterprises? Analyzing relevant implication Tomas Buus and Jaroslav Brada focus on optimal transfer price setting. The papers make evident the two recent tendencies in performance management research. The authors join to co-operate on international basis and the applied methods confirms that they respect interdisciplinary approach. Let us enjoy the reading and feel free to discuss the papers critically!

Designing and implementing an intellectual capital management system: applying the Meritum Guidelines in practice

This paper reports a case study on the design and implementation of an Intellectual Capital Management (ICM) system. The paper describes how an ICM system was designed and implemented using the Meritum Guidelines framework in two information management units of the Finnish Tax Administration. The design and implementation process is analysed in the light of previous evidence on business performance management systems in order to learn about issues that are specific in designing and implementing an ICM system. The findings show strong similarities between the two types of management systems. A specific benefit of utilising an ICM framework, the Meritum Guidelines in this case, is related to its ability to identify the strategically relevant factors related to Intellectual Capital (IC).