Český finanční a účetní časopis 2006(4):117-124 | DOI: 10.18267/j.cfuc.199

The Firm's Performance and Its Evaluation in a Dynamic Business Environment

Anna Staňková
Ing. Anna Staňková, CSc. - odborná asistentka; Katedra financí a oceňování podniku, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3, <stankova@vse.cz>.

The article deals with the dynamic approach to the company's performance assessment. The role of dynamic management does not include simple collection off the relevant data from different informational resources but directs the attention of managers to their interpretation for effective fulfilling of the tasks of the company. Can the managerial contribute to the value added process? Special attention was paid to the modern approaches of creating Value Added Chain. Managerial approach to the firms' performance evaluation faces the problems with identifying relevant costs and relevant revenues. Even more difficult to identify them, create the new models for complex evaluation of company's performance such as Balanced Scorecard or a model of European Foundation of Quality Management. The successful managers have to initiate and participate in the process of continuous improvement of company's performance and thus create the development potential.

Keywords: Standardized indicators of firm's performance; EFQM; Balance Scorecard; Value chain; Opportunity costs; Kaizen budgeting; Development potential.
JEL classification: G40

Published: December 1, 2006  Show citation

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Staňková, A. (2006). The Firm's Performance and Its Evaluation in a Dynamic Business Environment. Czech Financial and Accounting Journal, 2006(4), 117-124. doi: 10.18267/j.cfuc.199
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