Evaluation of Efficiency in Insurance Industry with use of Balanced Scorecard Frame

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Evaluation of Efficiency in Insurance Industry with use of Balanced Scorecard Frame

Popis výsledku v původním jazyce

The Balanced Scorecard is an effective method used within strategic management for creation and realization of strategic goals. It places em-phasis on personal and social responsibility of managers for enterprise development. The Balanced Scorecard system increases transparency of these goals, personal responsibility for the strategy, and it causes the growth of competitiveness and expansion of the enterprise. The Bal-anced Scorecard (BSC) defines financial and non-financial goals and indicators, which serve for measurement of performance and - after all - the successfulness of the enterprise. The data envelopment analysis (DEA) model is a model, which measures the efficiency by means of the rate of expended inputs to the produced outputs. The goal of this paper is to compare the technical efficiency of 13 insurance companies in Czech Republic with help of the non-parametric approach DEA, spe-cially the input-oriented model with the use of Balanced Scorecard frame. Outputs of the paper will be determined by BSC indicators in the sphere of insurance industry and then will be compared with the tech-nical efficiency by using DEA approach. Results showed that 4 insur-ance Czech companies were efficient, 4 highly and moderately efficient and 5 little efficient and inefficient.

Název v anglickém jazyce

Evaluation of Efficiency in Insurance Industry with use of Balanced Scorecard Frame

Popis výsledku anglicky

The Balanced Scorecard is an effective method used within strategic management for creation and realization of strategic goals. It places em-phasis on personal and social responsibility of managers for enterprise development. The Balanced Scorecard system increases transparency of these goals, personal responsibility for the strategy, and it causes the growth of competitiveness and expansion of the enterprise. The Bal-anced Scorecard (BSC) defines financial and non-financial goals and indicators, which serve for measurement of performance and - after all - the successfulness of the enterprise. The data envelopment analysis (DEA) model is a model, which measures the efficiency by means of the rate of expended inputs to the produced outputs. The goal of this paper is to compare the technical efficiency of 13 insurance companies in Czech Republic with help of the non-parametric approach DEA, spe-cially the input-oriented model with the use of Balanced Scorecard frame. Outputs of the paper will be determined by BSC indicators in the sphere of insurance industry and then will be compared with the tech-nical efficiency by using DEA approach. Results showed that 4 insur-ance Czech companies were efficient, 4 highly and moderately efficient and 5 little efficient and inefficient.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 12th International Conference on Strategic Management and its Support by Information Systems: May 25th-26th, 2017, Ostrava, Czech Republic

ISBN

978-80-248-4046-8

ISSN

2570-5776

e-ISSN

neuvedeno

Počet stran výsledku

9

Strana od-do

184-192

Název nakladatele

VŠB - Technical University of Ostrava

Místo vydání

Ostrava

Místo konání akce

Ostrava

Datum konání akce

25. 5. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000417344100020