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  • Instruments and methods for the integration of company's strategic goals and key performance indicators
    Janeš, Aleksander ; Faganel, Armand
    Purpose The purpose of this paper is to explore and clarify the cause and effect relations betweenkey performance indicators (KPIs) which significantly contribute to the benefits of the ... businessprocesses exploitation in the Luka Koper, d.d. Company.Design/methodology/approach The paper developed a single equation microeconomic errorcorrection model (ECM) with the Engle and Granger two-step method. With the ECM approach,the paper performed application on the KPIs and estimated short- and long-term effects betweenthem.Findings From the final ECM model, it can be recognized that the total turnover has beenincreased, by increased maritime throughput. Increasing the maritime throughput means a reductionin electricity consumption per tonne reloaded and increasing consumption of fossil fuels and water.Revenue per unit of maritime throughput has a negative regression coefficient, which may lead to anincrease in income or increased amount of maritime throughput and simultaneously reducing the costper tonne reloaded. Results are reflecting the impact of sharp declining in maritime throughput withthe greatest added value in the years 2007 and 2008. All these results and observations suggest that anerror correction mechanism exists and that the paper set up a stable model, which describes thedynamics of short-term determinants of the long-term service performance.Research limitations/implications The following limitations exist to this study: sample sizeand quality of the data that were available and the quantitative analysis in the four perspectives ofthe Kaplan and Nortons balanced scorecard (BSC). Since this is the case study that investigates theimpact of the KPIs on the results and causalities between them, the paper also encountered the data,which are treated as a business secret. Further research into the impact of introducing the fourperspectives of the BSC to monitor the implementation of strategies and strategic projects isrecommended.Practical implications The presented quantitative approach is useful in combination with aqualitative approach, which is a common practice in determining the causal relations resultingin the strategic map of BSC. Simulations of the developed model are possible on all levels ofmanagement, by combining the KPIs, and consecutively acquire new knowledge about theirrelations. Developed quantitative approach supports improving the monitoring of operationalefficiency of an organization, improving business processes, project efficiency and achievement ofthe strategic goals.Originality/value Developed approach supports identification and classification of strategic goalsand their KPIs that are best suited for inclusion in the BSC strategic map, improvements to themonitoring of implemented strategic initiatives and achievement of strategic goals.
    Vir: Kybernetes. - ISSN 0368-492X (Vol. 42, no. 6, 2013, str. 928-942)
    Vrsta gradiva - članek, sestavni del
    Leto - 2013
    Jezik - angleški
    COBISS.SI-ID - 4856791

    Povezava(-e):

    http://www.emeraldinsight.com/journals.htm?articleid=17097306&show=abstract
    DOI

vir: Kybernetes. - ISSN 0368-492X (Vol. 42, no. 6, 2013, str. 928-942)

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