The knowledge and use of the Balanced Scorecard method in businesses in the Slovak republic

Lesáková, Ľubica; Dubcová, Katarína; Gundová, Petra

doi:10.15240/tul/001/2017-4-004

Cited by 8 publications

(6 citation statements)

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“…BSC studies has been conducted using various statistical methods. The authors' research [49] was evaluated using the Spearman coefficient and methods of analysis, synthesis, and generalization. Studies conducted by foreign authors [50] also used statistical methods such as Kendallo tau, which is relatively identical to the Spearman R test, to examine management tools.…”

Section: Literature Reviewmentioning

confidence: 99%

Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance

et al. 2020

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The paper presents the results from the research on the factors influencing the use of the Balanced Scorecard methodology in measuring company performance in the engineering sector. The primary objective of the research was to verify the importance of using non-financial factors in managing businesses in connection to the use of the Balanced Scorecard methodology and to verify the dependence between the use of the given methodology and the lack of human and financial resources for its usage. The research focusing on the given issue was conducted over a period of six months. The research was based on the hypotheses that were verified with statistical methods using the methodology of a Chi-square test. To identify the factors that hinder the usage of the Balanced Scorecard methodology in the addressed enterprises, the method of standard deviation was used. The main result of the research is a finding that there is a statistically significant relationship between the enterprises considering the non-financial indicators and the use of the Balanced Scorecard methodology to be important. This relationship is confirmed also by the calculation using a test with p = 0.0422. The research verified one of the main research goals, i.e., the importance of non-financial indicators in connection to the Balanced Scorecard concept (BSC). Other hypotheses are related to the issue of the lack of human and financial resources. Using the Chi-square test in these cases once again, the study also found out the existence of the dependence between the lack of these resources and the use of the Balanced Scorecard methodology. The final value p = 0.0446 relating to human resources and the value p = 0.0377 relating to financial sources define the barriers as being important in implementing the BSC methodology into corporate practice. These values confirm other research results related to the barriers of using BSC. The presented paper assesses the research results that confirm the importance of using non-financial indicators and define the barriers that hinder this usage. The research contributed to the extension of the knowledge of the BSC concept that we consider being a modern managerial future-oriented tool and supported its implementation in companies so that they could operate within the framework of sustainable development.

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Section: Literature Reviewmentioning

confidence: 99%

Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance

et al. 2020

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“…BSC is an alternative to traditional financial indicators that, in effect, measure the company's past performance. BSC is not merely a method of measuring company performance, but also a strategic planning and management system interconnecting business activities with the company's vision and strategy (Lesáková et al, 2017).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Comparison of the Significance of Clusters for Increasing Business Performance

Štichhauerová

Žižka

Pelloneová

2020

JOC

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This article focuses on the impact of clusters on performance in five selected industries. Focused on increasing the competitiveness of regions and enterprises, clusters are currently considered one of the most essential tools of industrial policy. This includes the Czech Republic, where cluster initiatives have been systematically supported since 2004 by operational programmes. The goal of this research was to determine whether cluster organizations have a positive effect on the performance of their member enterprises in various industries. Another goal was to verify the relation between the financial and innovative performance of the member enterprises. The research was carried out on a sample of five clusters in the automotive, IT, furnituremanufacturing, packaging and machinery industries, with Data Envelopment Analysis used for this performance evaluation. The enterprises were divided into three groups: companies that are members of cluster organizations, companies that are active in the same region and industry but are not members of a cluster group, and companies from the respective industry that operate outside the region of the given cluster. The results of the study indicate that in four industries (automotive, IT, packaging, machinery), member companies of cluster organizations achieve better results than non-members or firms active in other regions. On the other hand, it was not possible to prove a positive relation between company performance and their registered industrial rights, neither from the perspective of cluster membership nor their activity in the respective industry and region.

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“…This finding was also confirmed by research of Rigby & Bilodeau (2014), according to which the concept is applied in 48% of large and medium-sized enterprises. In Slovakia, the research study focused on the use of Balanced Scorecard concept was carried out by authors Lesáková et al (2017). Based on the results, only 9.15% of the analysed companies used this modern concept.…”

Section: Graph 1 the Most Used Management Toolsmentioning

confidence: 99%

Implications of the Model EFQM as a Strategic Management Tool in Practice: A Case of Slovak Tourism Sector

Dobrovič

Kmeco

Gallo

2019

JoTS

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The article focuses on the use of a strategic management tool, especially the EFQM model. The EFQM Excellence Model is a comprehensive management tool used to assess and improve business performance. In this article we focused on the use of this model in tourism enterprises in Slovakia. The main goal of the paper was to carry out research on the use of this model and to identify barriers that prevent the use of this model in managing and increasing the performance of businesses active in tourism. The research was based on formulated hypotheses, which we verified using statistical methods. As suitable statistical methods to verify hypotheses we chose the population proportion method and the Chi-square test of independence. The hypotheses were formulated on the basis of the available literature, published articles and research carried out so far. We also described the reasons that prevent the use of the EFQM model and analyzed the relevant context using a standard deviation. The aim of our paper was to find out the current state of use of the mentioned model and to present the model as a suitable tool for increasing the performance of businesses not only in the field of tourism.

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The knowledge and use of the Balanced Scorecard method in businesses in the Slovak republic

Abstract: The Balanced Scorecard method (BSC)

Cited by 8 publications

References 0 publications

Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance

Factors Affecting the Use of Balanced Scorecard in Measuring Company Performance

Comparison of the Significance of Clusters for Increasing Business Performance

Implications of the Model EFQM as a Strategic Management Tool in Practice: A Case of Slovak Tourism Sector

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