CONSOLIDATION OF THE ESTIMATES OF VALUE ADDED AND THE BALANCED SCORECARD OF AN ENTERPRISE
Journal Title: Економіка розвитку - Year 2015, Vol 73, Issue 1
Abstract
Consolidation and harmonization of such approaches to strategic management as economic value added (EVA) and the Balanced Scorecard (BSC) is a challenging problem to be solved in the valuation of a company. This compliance is usually made by simple inclusion of EVA in the financial component of the performance system. However, this solution does not give a synergistic effect of the combination of the two approaches into a single system, mutually reinforcing positive characteristics of each method. The aim of the article is to determine the structure of EVA and BSC consolidation interconnections in the company's value strategic assessment. EVA is a strategic benchmark in enterprise management, a reference to the interest of investors in the business. BSC includes parameters and indicators that characterize four aspects: the aspect of the client, i.e. customer satisfaction in key segments of the food market; the internal business aspect, i.e. identifying processes that can provide a company with exclusive competitive advantage; the aspect of innovation and learning, i.e. the processes that enable the company to achieve further improvement; the financial aspect, i.e. assessment of the company by investors, owners and senior management. A generalized scheme of consolidation of EVA and BSC was proposed, which makes it possible to: a) determine the financial performance indicators that reflect the key cash flows between consumers and the internal processes of the company; b) thoroughly form the guidelines for company development, i.e. strategic goals and objectives of the improvement of the technical and technological base, training personnel or maybe closing production, merging it with another business or selling it; c) assess EVA taking into account data on intangible resources that are generated in the work with consumers and in the internal processes. Division of the aggregate intangible assets into three components was grounded: goodwill relating to the client component of the BSC; intellectual property rights relating to internal processes of the BSC; structural capital, which correlates with the development of the BSC personnel.
Authors and Affiliations
О . Popov , I. Serdyukova
Keywords
Related Articles
- EP ID EP142713
- DOI -
- Views 131
- Downloads 0
SYNTHESIZED CAPITAL AND MODERNIZATION OF SOCIETY
At present in Ukraine, the processes of integration and globalization are deepening, the impact of economic factors in all spheres of life has increased, and innovative investment model of development is being formed in...
ANALYZING APPROACHES TO EVALUATING AIRLINES PERFORMANCE
The concepts of airline performance assessment were analyzed. The expediency of application of the process-oriented cost-benefit analysis to the performance assessment was justified. This technique was proved to be appli...
PLACE AND ROLE OF HIGHER EDUCATION SYSTEM IN MODERN SOCIETY
Any societal transformations – economic, social, moral and intellectual – do not happen without the participation of the higher education system. That is why its value is characterized by the requirements of every stage...
INERTIAL CHARACTER OF HIGHER EDUCATION DEVELOPMENT
The research of the development of higher education is conditioned by the difficult modern state of education in Ukraine. In modern world, education has become one of the most extensive areas of human activity. The...
МЕХАНІЗМ ЕВОЛЮЦІЙНОГО ВІДБОРУ ФІРМ ІЗ РІЗНОЮ СУСПІЛЬНОЮ ВІДПОВІДАЛЬНІСТЮ
В умовах швидко змінюваного турбулентного глобалізованого середовища, у якому функціонують мікроекономічні системи, постає проблема прогнозування динаміки їх пристосування до дій як конкурентів, так і ринкового середовищ...