NON-FINANCIAL INDICATORS AND THEIR IMPORTANCE IN SMALL AND MEDIUM-SIZED ENTERPRISES
Measuring enterprise performance plays an important role in maximizing business efficiency. A modern business performance measurement tool is the Balanced Scorecard (BSC) method. This method helps assess not only the financial situation of the enterprise, but also indicators, and evaluates non-finan...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Tomas Bata University in Zlín
2018-06-01
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| Series: | Journal of Competitiveness |
| Subjects: | |
| Online Access: | https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=284&cp= |
| Summary: | Measuring enterprise performance plays an important role in maximizing business efficiency. A modern business performance measurement tool is the Balanced Scorecard (BSC) method. This method helps assess not only the financial situation of the enterprise, but also indicators, and evaluates non-financial indicators, which is important for achieving the maximum competitiveness of the enterprise. This paper points out the importance of non-financial indicators in small and medium-sized enterprises in Slovakia, using the BSC method as a strategic management tool. Three hypotheses were established and then verified using the method of proportionality of the given phenomenon in the population and the chi-square test of independence. Apartial objective of the study was to find out the existence of a statistically significant link between the use of the BSC method and the importance of non-financial indicators in small and medium-sized enterprises in Slovakia, as the BSC method attaches the same importance to both financial and non-financial indicators. It has been shown that these two variables are related. |
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| ISSN: | 1804-171X 1804-171X |