企业绩效管理【外文翻译】.pdf
外文文献翻译译文外文文献翻译译文一、外文原文Corporate Performance ManagementCorporate Performance ManagementAbstractAbstractTwo of the most important duties of a chief executive officer are(1)to formulatestrategy and（2）to manage his companys performance.In this article we examinethe second of these tasks and discuss how corporate performance should be modeledand managed.We begin by considering the environment in which a company operates,which includes，besides outside stakeholders，the industry it belongs and the marketit supplies,and then proceed to explain how the functioning of a company can beunderstood by an examination of its business,operational and performancemanagement models。Next we describe the structure recommended by the authorsfor a corporate planning，control and evaluation system，the most important part ofa corporate performance management system。The core component of the planningsystem is the corporate performance evaluation model，the structure of which ismapped into the planning systems database，simulation models and budgeting toolsstructures，and also used to shape informationcontained in the systems products,besides being the nucleus of the language used by the systems agents to talk aboutcorporate performance。The ontology of planning,the guiding principles of corporateplanning and the history of”MADE,the corporate performance management systemdiscussed in this article，are reviewed next,before we proceed to discuss in detail thestructural components of the corporate planning and control system introduced before.We conclude the article by listing the main steps which should be followed whenimplementing a performance planning，control and evaluation system for a company.1.1.IntroductionIntroductionTwo of the most important corporate tasks for which a chief executive officer isprimarily responsible are（1)to formulate strategy and（2）to manage thecompanys performance。In this article we examine the second of these tasks anddiscuss how corporate performance should be modeled and managed。To perform is to accomplish，to achieve(desired）results or outcomes.So，when talking about corporate performance,we are referring to the degree by whichdesired results or outcomes are achieved by a company.Managing corporateperformance involves planning,controlling,analyzing and evaluating，not only theresults achieved by the company，but also the means by which these results arereached。Among the results,or goals，pursued by most companies we can mentiongrowth，market share，profitability and value creation；and the means to achievethese results include productivity，effectiveness,innovation and competitiveness.Those are the type of things we should have in mind when specifying a corporateperformance management system.Before discussing how to model corporate performance，it is convenient toconsider the environment in which a company operates，which includes，besidesoutside stakeholders，the industry it belongs and the market it supplies.The mainaspects of an industry to be looked at when considering its influence on corporateperformance are structure and regulation，the main competitors,entry barriers,substitute products and suppliers negotiating power.Associated questions are:Howproduction is organized，vertically or horizontally?How much competitive is theindustry and who are the main competitors,those that capture the largest part of themarket share？Is it unregulated，selfregulated or regulated by a governmentagency?How strong are barriers to the entry of new competitors？Can productsfrom other industries function as substitutes for the ones produced in the industry？What about the power industry suppliers have when negotiating prices and tradeconditions？At the opposite side of the industry in the corporate environment we have themarket where the company trades its products，its main attributes being size,growthrate，segmentation,exit barriers and consumers negotiating power。Typicalquestions that should be asked when assessing its effect on corporate performanceare：What is the market size，in dollars，for each of the companys products?Whatare the shortterm and long-term market growth rates?Is it a wholesale or a retailmarket？Are the sales cyclical?How can the market be segmented(by geography,purchasingpower,customer age，etc。)？Which barriers does a client run into when changingsuppliers?Do clients have the power to impose prices and trade conditions?We call the people who have interest in or are affected by a companysperformance its“stakeholders”,and group them in the categories of“insiders and“outsiders”.The insiders are the companys entrepreneurs or controlling shareholdersand its managers and employees.The outsiders include customers，suppliers,minority shareholders，debt holders，the government in its roles of public goodssupplier，regulator and tax collector,and also the communities where the companydoes business.It is important to note that stakeholders，besides being affected by,alsoinfluence corporate performance and it is often necessary to search for the effects ofthis influence when appraising performance.That is meant to increase the depth of this brief analysis of corporate structureand external relations.Microeconomic theory considers the company as a socialproduction unit that uses a certain technology to produce a set of outputs from a set ofinputs。The function that maps input quantities into maximum output quantitiesobtainable from the inputs is called the“production function”or“production frontier.Knowledge of this function isimportant for measuring the technical efficiency of aproduction unit，a very significant performance metric.Several techniques exist forthe specification of production functions or frontiers,grouped under the names of“Data Envelopment Analysis”and“Stochastic Frontier Analysis”.Companies are created by entrepreneurs,the agents that organize and coordinateproduction with the help of professional managers。Entrepreneurs play a crucial rolein shaping corporate performance.On one side,recognized entrepreneurial capacityand also large contact networks are vital for raising the financial capital necessaryto build structural or physical capital.On another side，the entrepreneurs reputationand contacts are essential to attract the intellectual capital that，together with thestructural capital,is the foundation of innovation capacity.A business model is a conceptual representation of the way a company doesbusiness.Its main components，are:the companys value proposition;the targetedmarketsegments;thedistribution,marketing communications,andcustomerrelationship channels；the core competencies needed；operating and managementtechnologies；the partners network；and the revenue,cost and value creationmodels。Understanding the business model is the first step to implement a corporateperformance management system。The model should indicate whether the companyhas a broad customer base or targets specific market segments,and in the second case,identify these segments。The goods and services provided by the company and thecommercial conditions under which they are sold（including such things asguarantees,technical assistance,etc.),comprise the value proposition.The channelused for product distribution can be a direct-tocustomer sales channel through theInternet，or be comprised of bricks and mortar companyowned stores,wholesaleagents,retail companies,etc.The company can use several marketing channels to getmessages through to its customers,such as TV and printed media，and employ a callcenter to give support and receive complaints and suggestions from them.Corecompetencies are the ones the company needs to master in order to gain a competitiveadvantage in relation to other companies in the same marketplace。Thesecompetencies should rest on proper operational and management technologies,and besupplemented by a network of partners，if necessary。As a final point,a businessmodel must include a revenue,a cost and a value creation model in order to beprofitable to the companys shareholders。We can think of the operational model of a company as encompassing anorganizational model,a functional model and a corporate data model。Theorganizational model depicts,in an inverted hierarchical tree,the roles of the agentsinvolved in the companys operation.The func tional model portrays all the activitiesthat together form the whole to which we refer by the expression“companysoperations”,structured in logical,sequential steps forming operational processes.Atlast，the corporate data model is an entityrelationship diagram that shows the mainentities about which the company collects data with its attributes and the relationshipsbetween them。The last model we need to examine in order to understand the functioning of acorporation is the performance management model it uses，which is，in general，composed of four building blocks。The corporate governance system，the corporateperformance planning，control and evaluation system,the individual managersperformance planning,control and evaluation system and the management variablecompensation system(or bonus system)。The corporate governance systemcomprises three well known actors,the chief executive officer，the directors and theshareholders，and is designed to mediate the relations between them。Under thegovernance system，we find two planning and control systems,having as its targetsthe performance of the company(as a whole and of its divisions)and the performanceof its individual managers，respectively。Linking these two systems we find acompensation system that assigns fractions of a bonus pool,which is a function of theaggregate company performance,to its managers on the basis of their individualperformances。An effective management model should be forwardlooking，that is,centered on the improvement of future performance,and focused on value creation.A thorough understanding of all the models described above is a necessaryprerequisite for one to be able to plan，monitor，analyze,evaluate and controlcorporate performance.In the next section we will examine in more detail a crucialcomponent of the management model previously described：the corporateperformance planning,control and evaluation system.2.The Corporate Performance Planning2.The Corporate Performance Planning，Control and Evaluation System.Control and Evaluation System.That shows the structure recommended by the authors for a corporate planning，control and evaluation system，the most important part of a corporate performancemanagement system.The core component of the planning system,as can be deducedfrom its central position in the mentioned figure，is the performance evaluationmodel.The structure of this model is mapped into the systems database，simulationmodels and budgeting tools structures,and also used to shape information containedin the systems products，besides being the nucleus of the language used by thesystems agents to talk about corporate performance.The corporate planning andcontrol process is formed by the coordinated actions of the planning and controlagents,whose aim is the generation of the systems outputs,which includeassumptions，goals，forecasts,plans，budgets,investment projects，performancevaluations,variance analysis,etc.These products take the form of paper andelectronic documents and spreadsheets,and of PowerPoint presentations。The agentsfollow an agreed upon time schedule and rely on a business intelligence(BI）software to support their actions。The BI software implements the performanceevaluation model for the purposes of representing and simulating corporateperformance and provides the necessary tools forthe systems agents to produce thesystems outputs。Data used by the system comes from the accounting and othercorporate databases.In the following sections of this article we will examine in detaileach of the aforementioned planning system components。Before proceeding,however，we will make a pause to discuss the ontology ofplanning。One can readily identify in this figure three major structures：the strategic,the motivation and the action frameworks.In the strategic framework，which ischiefly related to the risk versus return dialectics,we can identify the externalinfluences to corporate performance,comprising both opportunities and threats,andthe internal ones，materialized by strengths and weaknesses.Suppliers andconsumers negotiating power，entry and exit barriers,competitors and substituteproducts are the main determinants of external influences。Technological change hasalso a pervasive influence on corporate performance。Comparing the motivation（ends）and action（means）frameworks,we can associate various levels or layersin which corporate aims are defined to the corresponding action classes，that is,vision to mission，long term goals to strategy,short term goals to tactics and actualresults to actual actions.Policy and business rules are restrictions under whichstrategy and tactics，respectively，must be formulated,and actual action carried out.It may be convenient,at this point，to give a general definition of the terms“planning”and“control”。Corporate planning is a process by which managementdefine the desired future performance of a corporation，and identify and decide onthe actions that need to be taken in order to achieve that performance.The main stepscomprising a planning cycle are exposed。Corporate control,on the other hand,isan operational process which aims to check whether the actual performance is inaccordance with the planned one,and，eventually,to modify the planned actions inorder to guarantee that the final desired performance will be met.The corporatebudget is one of the most important outputs of the corporate planning and controlprocess。It is the prime management tool used to improve corporate performance andto align management interests with those of the shareholders。We can conclude thissection by stating the nine guiding principles of corporate planning and control：i.Planning is concerned in first place with results and in second place with themeans to achieve these results。ii。Planning is concerned with the present value of costs and benefits to beincurred in the future as a consequence of decisions undertaken in the present。iii.The main objective of planning is to create value for the corporationsshareholders。iv.For the above goal to be met,it is necessary to fulfill customers expectationsconcerning quantity，price and quality of marketed products at the least possiblecost，and to maintain a skilled and fully motivated workforce.v.Planning and control activities should be organized through a system whosecomponents are the planning and control agents,process,time schedule，products,models&tools,and database。vi。The corporate budget should be the planning and control systems productthat consolidates the results which the company plans toachieve in the next periodand the actions it should undertake in order to meet them。vii.The corporate budget must contain all the information necessary for theevaluation of the short term planned performance of the company,its marketing,operation
