Strategic business performance management system in wood processing industry in Slovakia

Abstract

Measuring and managing of business performance is a complex and difficult process, which at the present time passes through significant changes in theory and practice. Previously used indicators, methods and models were mainly based on financial indicators and methods of financial management. The problem of proving and relatively accurately quantifying the impact of financial indicators for the overall business performance in theory and practice of management has been fairly well solved. However, to identify and quantify the impact of qualitative non-financial indicators and methods of the management on the overall performance has so far been an issue that requires further scientific research in specific conditions of Slovak wood-processing industry. Based on statistical results of our research, wood processing industry enterprises should apply the selected methods and models of strategic business performance management. By applying the selected strategic methods and models, such as Balanced Scorecard, Business Intelligence, strategic planning and controlling, innovations and others, wood processing companies in Slovakia will achieve a better performance.