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SPECIFICS OF PERFORMANCE MEASUREMENT AND MANAGEMENT MANUFACTURING COMPANY
Abstract
Manufacturing companies form a major share of the private sector. These companies have a significant influence on the output of the open export economy of the Czech Republic. Performance measurement and management of these manufacturing companies become a prerequisite for the successful long-term operations of these companies. Because of the complexity of performance measurement, a system approach is applied. The traditional and most commonly used methods include financial analysis with an analytical and systematic approach to the individual activities of the company. However "modern" approaches to measuring business performance such as BSC, benchmarking, etc. are beginning to be used more and more. A set of financial and non-financial indicators can be described as a set of metrics used to express the efficiency of individual activities of the company. It gives feedback to the company's employees on the results of their activities, with the ability to verify the effectiveness of the implementation strategy. The appropriate structure of a performance measurement system is a significant condition for an effective corporate performance management system. This paper discusses the specifics of performance measurement and management of a manufacturing company. The paper identifies specific characteristics and focuses on a manufacturing company. The aim of this paper is based on a study carried out by a company-controlled interview to identify a system performance measurement and management of the manufacturing company including the specific properties of the character of the objectives of a manufacturing company.
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