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Businesses at the present time find themselves in a difficult situation; besides the ongoing effects of the economic crisis, they are facing a continuously escalating competitive struggle. Standing up against the competition is becoming more complex and requires constant monitoring of, and adaptation to, market requirements. Thus, pressure is constantly growing on the efficient use of resources, reduction of production costs, improvement of business processes and last but not least, the creation of innovation and ...

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 systemati...