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Comparison of Using Managerial Instruments in Industry Companies in Slovakia and the Czech Republic

Journal: TEM JOURNAL - Technology, Education, Management, Informatics (Vol.8, No. 4)

Publication Date:

Authors : ;

Page : 1191-1197

Keywords : profit; performance management; financial indicators; monitoring; efficiency;

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Performance management is key factor of successful business and obtaining competitiveness advantages on the global business market. Monitoring of performance is basic instrument of innovative activities in the industrial enterprises. The main goal of this contribution is to monitor the attitudes of industrial enterprises in Slovakia and the Czech Republic to the use and application of performance management tools. Based on a questionnaire survey in industrial enterprises in Slovakia and in the Czech Republic, we monitored the areas of performance management that businesses prefer, specific financial indicators, and new management tools implemented in companies. The conclusion of the research pointed to the most monitored area - finance, from the point of view of financial indicators the most monitored are costs, revenues, profit, liquidity, indebtedness. New trends in performance management that businesses have introduced are quality management, project management, and EVA financial indicator.

Last modified: 2020-01-16 01:29:21