European Version of a Balanced Scorecard in Family Enterprises (Own Research)

Abstract

Abstract-The paper presents the European model of the Balanced Scorecard. It is based on the goals, which take into account the point of view of various stakeholders of the company. The main objective of the study was to demonstrate the differences in the two versions Balanced Scorecard: European and American. The specific objective of the research was the most common diagnosis liquidated barriers to family businesses, which are defined as critical to effective strategy implementation. The results of the study indicate significant differences in the application of both the Balanced Scorecard and include barriers: integration of the objectives of ownership, consistency and competence.

The Use of Theory of Constraints to Improve Production Efficiency – Industrial Practice and Research Results

“…Only improving efficiency of key processes will boost the economic performance indicators of the company. It is also important to coordinate the operational and strategic objectives [3]. When strategic objectives are not exactly translated into operational objectives, it may lead to the generation of contradicting indicators, which adversely affect the efficiency of production management.…”

“…supply, production, and distribution, and the consumption of resources in these processes [1]. Many companies that aim for high operating efficiency find it difficult to define the course of the process that best achieves the adopted company strategy and eliminates actions that do not add value for the customer [2,3,4]. Production efficiency is therefore dependent on the value chain.…”