Financial Key Performance Indicators in Engineering Companies

Abstract

Performance is usually defined as system of monitoring individual

Sustainability and Continuous Improvement of Organization: Review of Process-Oriented Performance Indicators

“…Studies mention at least five different elements that help to describe and analyse the organization's performance. They are: objectives [23,[46][47][48][49][50][51], metrics [23,47,48,52,53], data measures [23][24][25][26][46][47][48][49], indicators [23,[46][47][48]54,55] and key performance indicators (KPI) [23,39,[45][46][47]49,52,[55][56][57][58][59]. Each of these elements is important to monitor the organization's activities.…”

“…Companies usually use inappropriate or poorly classified indicators or compare own results with previous periods, where there were different conditions for organizations' achievements. [55] As this research is focused on performance-oriented indicators, it is important to separate the term, indicator, from the term, KPIs, because the organization can have many different indicators at all levels of the organization, but not all of them describe the performance of the organization. These indicators can be compiled in a performance management system (PMS) and help to define the strategic KPIs [13,46,54].…”

“…The correct choice of performance indicators is an important part of the corporate strategic process and quality management, because well-defined and weighted KPIs can help realise strategic plans. [39,55,57,59] KPIs are directly linked to business success, but defining an effective KPI that shows business benefits is not always easy. To develop a set of indicators, it is necessary to include the name, owner, formula, justification and description of KPIs.…”

Motivation Preferences of Hungarian and Slovak Employees are Significantly Different

“…The long-time business strategy cannot use traditional techniques to corporate improvement. It is necessary to come up with new ideas to be different from competitors in order to survive in the global market (Milichovský, 2015). The similar opinion is shared by Stone and Deadrick (2015).…”

Expertise, Leadership Style and Communication in Interfunctional Coordination

“…Many researchers confirmed that market orientation leads to higher business performance. According to Milichovsky (2015), performance is defined as system of monitoring individual corporate processes on way to implement the appropriate changes in organizational culture, systems and processes. Since 1990, hundreds of measurements have been realized, e. g. Narver and Slater (1990), Jaworski and Kohli (1993), Matsuno and Mentzer (1995), Gray et al (1998), Deng and Dart (1999), Akimova (2000), Langerak (2001), Vázquez (2002), Hooley et al (2003), Woodside (2005), Menguc et al (2007), Sousa andLengler (2011), Smirnova et al (2011), Kaňovská and Tomášková (2012), Julian et al (2014), Wilson et al (2014).…”