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BALANCED SCORECARD IMPLEMENTATION AS MECHANISMS OF REACHING SUSTAINABLE DEVELOPMENT Olga Trubnikova NTUU KPI, Kyiv, Ukraine According to Programme

of Internal Trade Development [1], Ukraine has got such corresponding strategic objectives: establishing state-of-the-art standards of trade and consumer service; developing competitiveness among holesalers and retailers; optimi!ation and restructuring of distribution net ork; improving a s"stem of indicators used for statistical overseeing trade companies# business$ A t"pical enterprise invests about %&' [&] of its capital in inventories$ (hus, a compan"#s effectiveness substantiall" depends on amount of investments in inventories$ )o doubt, managing this kind of assets is essential$ *or its part inventor" management helps to optimise investing in inventories and means identif"ing periods and amount of orders for replenishing stocks$ (his implies balancing some e+penses that increase together ith inventories rise and those e+penses that decrease hen inventories go up$ Achieving aforementioned objectives demands s"stem approach in compan" management$ (herefore e believe inventor" management should be considered as an essential part of a trade compan"#s business $ ,uch top-companies as P&G, Unilever, Colgate-Palmolive, ond!alle, riti"# $meri%an To&a%%o, Campina, Danone, Co%a-Cola, 'errero (o%#e, Kraft 'ood" use strategic management in their business appl"ing )orton--aplan#s alan%ed )%ore%ard *+)C, $ .,/ as created in 1001 after a research stud" 23easuring 4erformance in the 5rgani!ation of the *uture6 conducted b" )orton 7nstitute$ 7t as a comple+ s"stem that thoroughl" measured a compan"#s business using financial and nonfinancial information$ 7t as based on principles of strategic management$ (his s"stem transforms a compan"#s mission, vision, and general strateg" into a s"stem of interconnected measures$ 8,/ enables identif"ing 9uantitative and 9ualitative indices that facilitate almost ever" emplo"ee#s comprehension of hat is necessar" to be done for achieving common strategic goal$ 8,/ enables managers# considering business in four perspectives :pic$ 1;$ Appl"ing this approach to a commercial compan" e can point out the follo ing ke" measures that sho a compan"#s effectiveness$ 7t also should be mentioned that a compan"#s strateg" influences importance of aforementioned perspectives$ (herefore, more important -47#s share ill be larger and vice versa$ *or instance, let us have a look at the strategies of ell-kno n 8oston /onsulting <roup#s $dvantage -atri. [=]$ 5ne can see there are a fe a"s of a compan"#s gro th ith regard to its t"pe of business: /ol!me, )talemated, )pe%iali"ed, and 'ragmented0 A special strateg" is proposed for each categor"$ >elevant strateg" is identified b" >57 and market share$ 7n order to keep leading positions in the market cost reduction strateg" is advised :as ell as b" 3ichael 4orter#s model; for companies here market share and profitabilit" are closel" associated, i$e$ those companies that can fulfil their competitive advantages through increasing output : /ol!me;$ *or this kind of enterprises measures of internal business processes ill be more valuable :inventor" level, customer service e+pense;$ 4rofitabilit" in )talemated companies is lo for

emplo"ee learning and gro th measures ill be more important for such kind of companies upgrading them to more profitable categor"$
all competitors regardless of si!e$ (hus (he profitabilit" of businesses in 'ragmented sector is not correlated ith market share$ 4oor performers can be large or small and good performers are also independent of si!e$ (he largest profitabilit" in )pe%iali"ed categor" is enjo"ed b" small businesses able to distinguish themselves among their competitors b" follo ing a focused strateg"$ C!"tomer section :being stable ill ensure fi+ed sales; ill be the most important for this t"pe of companies $ As for creating relevant 8,/, it is orth to point out a list of obligator" measures that include evaluation of inventor" management$ >egardless of a compan"#s strateg" the" all ill be included though their rate ill be different - *inancial 3easures, /ustomer 3easures, ?mplo"ee @earning and <ro th 3easures, /ommon 7nternal 4rocess 3easures$ (o reach ,ustainable Aevelopment compan" should put it like a part of strategic vision and reflect in -47s accordingl"$ 7nternational companies# successful appl"ing 8,/ as an instrument of translating a compan"#s strateg" to emplo"ees# jobs is considered stimulating for adaptation of 8,/ in the local market$ 3easures that are essential for a commercial compan"#s 8,/ ere highlighted$ (he" should be used for information support facilitating decision making in inventor" management $ References 1. http:BB!akon$rada$gov$uaBcgi-binBla sBmain$cgiCnregDE=&-&110-'?* &$ )ikanova 7$A, ,trateg" and value of commercial bankB:Alpina-8usiness 8ooks, &11%$ F =1% p$ =$ Carl 10 )tern , George )talk 0 4erspectives on ,trateg" from the 8oston /onsulting <roup, 100G$ - pp$ HE-H0

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