BALANCED SCORECARD CONCEPT AS A TOOL OF STRATEGIC MANAGEMENT AND ITS USAGE IN THE CONSTRUCTION INDUSTRY
Journal Title: Polish Journal of Management Studies - Year 2018, Vol 18, Issue 2
Abstract
The paper focuses on the issue of non-financial indicators in construction companies in Slovakia through the Balanced Scorecard concept as a tool of strategic management. The main aim of the paper is to find out the current state of using the method of Balanced Scorecard in construction companies in Slovakia. Two hypotheses were established in the study which was verified using the method of proportion of the given phenomenon in the population and the method of chi-square test for independence. Another part of our research was dedicated to the barriers that prevent the use of the BSC method wchich we have also subjected to the statistical research in our paper using the standard deviations and other statitical methods. The research has shown that the Balanced Scorecard method is not use even by 15% of construction companies in Slovakia. The partial objective was to find out the existence of statistically significant relationship between the use of non-finnacial indicators in the management and the use of BSC concept, since the BSC method assigns the same importance to both financial as well as non-financial indicators. The paper offers an overview about the current state of BSC in the construction industry and seeks to present the concept as a modern business management tool that gives equal importance to both financial and non-financial indicators.<br/><br/>
Authors and Affiliations
Ján Dobrovič, Peter Gallo, Eva Benková, Veronika Čabinová, Mariusz Urbański
Keywords
Related Articles
- EP ID EP428277
- DOI 10.17512/pjms.2018.18.2.05
- Views 67
- Downloads 0
ADAPTATION OF MANAGERIAL STYLE TO THE PERSONALITY OF ENGINEERS, IN ORDER TO INCREASE PERFORMANCE IN THE WORKPLACE
In the competitive business environment, the managerial style that makes up the psychosocial environment in the organization can be the key to increasing employee outcomes. Analyzing the psychological and behavioral prof...
LEADERSHIP CHALLENGES IN THE CONTEXT OF WEB 2.0 SOLUTIONS
The Authors present the path for theoretical framework towards leadership adopted due to emerging technologies in organization’s environment. Web 2.0 challenge the way organizations are managed in the era of social revol...
NEW ALGORITHMS IMPROVING THE WORK OF AN INFORMATION SYSTEM FOR THE BAILIFF’S OFFICE
The use of ICT enables enterprises to increase their overall efficiency and makes them more competitive. Bailiff office can be an example of a firm not from ICT branch, but widely using new information technologies. The...
EFFECTIVE OCCUPATIONAL COUNSELLING FOR THE UNEMPLOYED
Recruitment is usually a long-term and expensive process that generates substantial risk. A survey showed that, depending on the job position, costs connected with replacing an employee range from one third of annual pen...
ADJUSTMENT TO TARGET DEBT MATURITY AND EQUITY MISPRICING: EVIDENCE FROM ASIA PACIFIC
This paper examines firms’ target adjustment behavior for debt maturity structure for selected countries from the Asia Pacific region. The literature documents that managers’ structure debt issues in line with a target m...