Utilization of Balanced Scorecard and the Effect of its on the Financial Performace of Companies in the Czech Republic

Influence of business performance measurement systems and corporate sustainability concept to overal business performance: “save the planet and keep your performance”

“…The research results also did not confi rm that the BSC use contributes to improved fi nancial performance of the company. In the research was used a sample of 167 enterprises (Knápková et al, 2014). Important will be also its implementation, as evidenced by the results of such research in Slovakia, implementation of the BSC system only through the software solutions can lead to a false understanding of the meaning of BSC by managers, which is also a common reason for failure to implementation of this system (Šoltés & Gavurová, 2015).…”

Business Performance Management and Fdi: Key Differences Between Foreign and Domestic-Owned Firms – A Case of Slovakia

“…The examination of the performance management and measurement system worldwide, in former centrally planned economies and also especially in condition of Czech Republic and Slovakia is dedicated several research studies: the strategic orientation in the performance management (Morgan, Strong 2003); the SPMS -strategic measurement performance system (Bisbe, Malagueňo 2012;Gimbert et al 2010); the impact of corporate governance on business performances in Romania (Achim et al 2016); the role of SME sector in the economy and necessity of innovations and entrepreneurship in business in the era of global competition (Czarniewski 2016); the SPMS on the base of managerial information support and Business Intelligence Zámečník, Rajnoha 2015); the business process performance measurement system (Tuček et al 2013); a model for the entrepreneurial orientation measurement (Belás, Sopková 2016); the model of specific factors in performance management (Rajnoha, Lesníková 2016); the model of specific factors in foreign trade (Dubravská et al 2015); analysis of a key competitive factor in the steel industry in Slovakia and Poland (Štefko et al 2012); the relationship between customer satisfaction and financial performance on the case of banking sector (Belás, Gabčová 2016;Korauš et al 2015); the impact of the use of BSC on financial business performance in Czech Republic (Knápková et al 2014); the critical success factors of implementation of the BSC (Šoltés, Gavurová 2015); the combination the BSC with the DEA method in industrial companies (Kádárová et al 2015). Jin et al (2015) evaluate the effects of M&A on acquirers' financial performance.…”

Possibilities for Developing Business Potential in Economic Education. Examples of Implementation in Slovakia and the Czech Republic

“…New approaches to corporate performance which support traditional indicators have been preferred for many years. Measuring corporate performance has been studied by many authors from different points of view: the relationship of strategy and strategic orientation with business performance (Morgan, Strong, 2003), the view on strategic measurement performance system through strategic agenda and decision-making as a result of formulating or reformulatign strategy (Bisbe, Malagueῇo, 2012), the effect of strategic measurement performance system on the important attributes of the process of formulating business strategy (Gimbert et al, 2010;Mentel & Brożyna, 2015), the effect of the Balanced Scorecard (BSC) concept and its importance as a strategic tool for measuring and managing business and management performance (Knápková et al, 2014), the effect of strategic performance measurement system of human resources and corporate results (Bento, White, 2014), the relations among customer satisfaction, customer loyalty and financial performance of a commercial bank (Belás, Gabčová, 2016), customer satisfaction in banking business and its importance for financial performance of a commercial bank , tax revenue administration and its process model for Slovakia's economic performance , strategic business performance management on the base of controlling and managerial information support (Zámečník, Rajnoha, 2015). Other study indicates there is a positive significant relationship between management tools and techniques utilization and organizational performance (Afonina, 2015).…”