Key Performance Indicators and the Balanced Scorecard Approach in Small and Medium-Sized Enterprises: A Literature Review

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F19%3APU132264" target="_blank" >RIV/00216305:26510/19:PU132264 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Key Performance Indicators and the Balanced Scorecard Approach in Small and Medium-Sized Enterprises: A Literature Review

Original language description

Purpose of the article The aim of this article is to identify possible approaches for define key performance indicators and possibilities of use balanced scorecard to this extend in small and medium-sized enterprises (SMEs). Methodology/methods Comparison of the views of authors with the performance measurement in companies using key performance indicators, balanced scorecard and their combination with other approaches. This literature review is intended to find gaps of the studies in this area, which can lead to future research. Secondary research is used publishers such as Elsevier, Emerald, Springer and other. This literature review is actual for present year, because the level of knowledge in this area will change and expand in the future. For this reason, the main focus is on time period between 2014–2019. Scientific aim Define performance measurement approaches based on key performance indicators and balanced scorecard and identifying knowledge gaps in this area. Findings The results show that key performance indicators are suitable for measuring performance in companies and they are very often used with combination of fuzzy methods or Enterprise Analysis Model. But one of the most common ways is to implement key performance indicators (KPIs) depending on balanced scorecard (BSC). The gap in knowledge has been identified in the implementation of these procedures in SMEs, mainly in nonproductive enterprises. Conclusions These approaches are very suitable for measuring company performance and have sufficient evidence ability. The limitation lies in the fact that these methods requires profound knowledge of this issue and implementation is long and demanding. SMEs often lacking the necessary finances or knowledge of how implement this approach. Because of this reason, the founded gap is unforgettable problem, and it is necessary that future research be focused on this topic.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50206 - Finance

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

PERSPECTIVES OF BUSINESS AND ENTREPRENEURSHIP DEVELOPMENT IN DIGITAL TRANSFORMATION OF CORPORATE BUSINESS

ISBN

978-80-214-5756-0

ISSN

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e-ISSN

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Number of pages

10

Pages from-to

55-64

Publisher name

Neuveden

Place of publication

Brno

Event location

Fakulta podnikatelská VUT v Brně

Event date

Apr 30, 2019

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

000503222600023