企业绩效管理【外文翻译】

外文文献翻译译文

一、外文原文

Corporate Performance Management

Abstract

Two of the most important duties of a chief executive officer are (1) to formulate

strategy and (2) to manage his company’s performance. In this article we examine the

second of these tasks and discuss how corporate performance should be modeled and

managed.

We

begin

by

considering

the

environment

in

which

a

company

operates,

which includes, besides outside stakeholders, the industry it belongs and the market it

supplies,

and

then

proceed

to

explain

how

the

functioning

of

a

company

can

be

understood

by

an

examination

of

its

business,

operational

and

performance

management models. Next we describe the structure recommended by the authors for

a

corporate

planning,

control

and

evaluation

system,

the

most

important

part

of

a

corporate

performance

management

system.

The

core

component

of

the

planning

system

is

the

corporate

performance

evaluation

model,

the

structure

of

which

is

mapped into the planning system’s database, simulation models and budgeting tools’

structures,

and

also

used

to

shape

information

contained

in

the

system’s

products,

besides being the nucleus of the language used by the system’s agents to talk

about

corporate performance. The ontology of planning, the guiding principles of corporate

planning and the history of ”MADE”, the corporate performance management system

discussed in this article, are reviewed next, before we proceed to discuss in detail the

structural components of the corporate planning and control system introduced before.

We

conclude

the

article

by

listing

the

main

steps

which

should

be

followed

when

implementing a performance planning, control and evaluation system for a company.

1.

Introduction

Two of the most important corporate tasks for which a chief executive officer is

p

rimarily responsible are (1) to formulate strategy and (2) to manage the company’s

performance.

In

this

article

we

examine

the

second

of

these

tasks

and

discuss

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 which desired

results

or

outcomes

are

achieved

by

a

company.

Managing

corporate

performance

involves planning, controlling, analyzing and evaluating, not only the results achieved

by the company, but also the means by which these results are reached. Among the

results, or goals, pursued by most companies we can mention growth, market share,

profitability

and

value

creation;

and

the

means

to

achieve

these

results

include

productivity,

effectiveness,

innovation

and

competitiveness.

Those

are

the

type

of

things we should have in mind when specifying a corporate performance management

system.

Before

discussing

how

to

model

corporate

performance,

it

is

convenient

to

consider

the

environment

in

which

a

company

operates,

which

includes,

besides

outside

stakeholders,

the

industry

it

belongs

and

the

market

it

supplies.

The

main

aspects

of

an

industry

to

be

looked

at

when

considering

its

influence

on

corporate

performance

are

structure

and

regulation,

the

main

competitors,

entry

barriers,

substitute products and supplier’s negotiating power. Associated

questions are: How

production

is

organized,

vertically

or

horizontally?

How

much

competitive

is

the

industry and who are the main competitors, those that capture the largest part of the

market share? Is it unregulated, self-regulated or regulated by a government agency?

How

strong

are

barriers

to

the

entry

of

new

competitors?

Can

products

from

other

industries function as substitutes for the ones produced in the industry? What about

the power industry suppliers have when negotiating prices and trade conditions?

At

the

opposite

side

of

the

industry

in

the

corporate

environment

we

have

the

market where the company trades its products, its main attributes being size, growth

rate, segmentation, exit barriers

and consumers’ negotiating power. Typical questions

that should be asked when assessing its effect on corporate performance are: What is

the

market

size,

in

dol

lars,

for

each

of

the

company’s

products?

What

are

the

short- term

and long-term

market

growth rates? Is it

a wholesale or a

retail

market?

Are the sales cyclical? How can the market be segmented (by geography, purchasing

power,

customer

age,

etc.)?

Which

barriers

does

a

client

run

into

when

changing

suppliers? Do clients have the power to impose prices and trade conditions?

We

call

the

people

who

have

interest

in

or

are

affected

by

a

company’s

performance

its

“stakeholders”,

and

group

them

in

the

categories

of

“insiders”

and

“outsiders”. The insiders are the

company’s entrepreneurs or controlling shareholders

and its managers and employees. The outsiders include customers, suppliers, minority

shareholders,

debt

holders,

the

government

in

its

roles

of

public

goods

supplier,

regulator

and

tax

collector,

and

also

the

communities

where

the

company

does

business. It is important to note that stakeholders, besides being affected by, also

influence corporate performance and it is often necessary to search for the effects of

this influence when appraising performance.

That is meant to increase the depth of this brief analysis of corporate structure

and

external

conomic

theory

considers

the

company

as

a

social

production unit that uses a certain technology to produce a set of outputs from a set of

inputs.

The

function

that

maps

input

quantities

into

maximum

output

quantities

obtainable from the inputs is called the “production function”

or “production frontier”.

Knowledge of this function is

important

for measuring the technical

efficiency of a

production unit, a very significant performance metric. Several techniques exist for

the

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 coordinate

production with the help of professional managers. Entrepreneurs play a crucial role

in

shaping

corporate performance. On one side,

recognized entrepreneurial

capacity

─

and also large contact networks

─

are vital for raising the financial capital necessary

to build structural or physical capital. On

another side, the entrepreneurs’ reputation

and

contacts

are

essential

to

attract

the

intellectual

capital

that,

together

with

the

structural capital, is the foundation of innovation capacity .

A

business

model

is

a

conceptual

representation

of

the

way

a

company

does

business.

Its

main

components

,

are:

the

company’s

value

proposition;

the

targeted

market

segments;

the

distribution,

marketing

communications,

and

customer

relationship

channels;

the

core

competencies

needed;

operating

and

management

technologies; the partners’ network; and the

revenue, cost and value creation models.

Understanding

the

business

model

is

the

first

step

to

implement

a

corporate

performance

management

system.

The

model

should

indicate

whether

the

company

has 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

the

commercial conditions under which they are sold (including such things as guarantees,

technical

assistance,

etc.),

comprise

the

value

proposition.

The

channel

used

for

product distribution can be a direct- tocustomer sales channel through the Internet, or

be

comprised

of

bricks

and

mortar

companyowned

stores,

wholesale

agents,

retail

companies,

etc.

The

company

can

use

several

marketing

channels

to

get

messages

through to its customers, such as TV and printed media, and employ a call center to

give support and receive complaints and suggestions from them. Core competencies

are the ones the company needs to master in order to gain a competitive advantage in

relation to other companies in the same marketplace. These competencies should rest

on

proper

operational

and

management

technologies,

and

be

supplemented

by

a

network of partners, if necessary. As a final point, a business model must include a

revenue, a cost and a value creation model in order to

be profitable to the company’s

shareholders.

We

can

think

of

the

operational

model

of

a

company

as

encompassing

an

organizational

model,

a

functional

model

and

a

corporate

data

model

.

The

organizational model depicts, in an inverted hierarchical tree, the roles of the agents

involved in the compa

ny’s operation. The func

tional model portrays all the activities

that

together

form

the

whole

to

which

we

refer

by

the

expression

“company’s

operations”, structured in logical, sequential steps forming operational

processes. At

last, the corporate data model is an entity-relationship diagram that shows the main

entities about which the company collects data with its attributes and the relationships

between them.

The last model we need to examine in order to understand the functioning of a

corporation

is

the

performance

management

model

it

uses,

which

is,

in

general,

composed

of

four

building

blocks.

The

corporate

governance

system,

the

corporate

performance

planning,

control

and

evaluation

system,

the

individual

managers

performance

planning,

control

and

evaluation

system

and

the

management

variable

compensation system (or bonus system). The corporate governance system comprises

three well known actors, the chief executive officer, the directors and the shareholders,

and is designed to mediate the relations between them. Under the governance system,

we find two planning and control systems, having as its targets the performance of the

company

(as

a

whole

and

of

its

divisions)

and

the

performance

of

its

individual

managers,

respectively.

Linking

these

two

systems

we

find

a

compensation

system

that assigns fractions of a bonus pool, which is a function of the aggregate company

performance,

to

its

managers

on

the

basis

of

their

individual

performances.

An

effective

management

model

should

be

forward-looking,

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

necessary

prerequisite

for

one

to

be

able

to

plan,

monitor,

analyze,

evaluate

and

control

corporate performance. In the next section we will examine in more detail a crucial

component

of

the

management

model

previously

described:

the

corporate

performance planning, control and evaluation system.

2. The Corporate Performance Planning, 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

performance

management system. The core component of the planning system, as can be deduced

from its central position in the mentioned figure, is the performance evaluation model.

The structure of this model is mapped into the

system’s database, simulation models

and budgeting tools’ structures, and also used to shape

information contained in the

system’s

p

roducts,

besides

being

the

nucleus

of

the

language

used

by

the

system’s

agents

to

talk

about

corporate

performance.

The

corporate

planning

and

control

process

is

formed

by

the

coordinated

actions

of

the

planning

and

control

agents,

whose aim is the generat

ion of the system’s outputs, which include assumptions, goals,

forecasts,

plans,

budgets,

investment

projects,

performance

valuations,

variance

analysis,

etc.

These

products

take

the

form

of

paper

and

electronic

documents

and

spreadsheets,

and

of

PowerPoint

presentations.

The

agents

follow

an

agreed

upon

time schedule and rely on a business intelligence (BI) software to support their actions.

The

BI

software

implements

the

performance

evaluation

model

for

the

purposes

of

representing and simulating corporate performance and provides the necessary tools

for

the

system’s

agents

to

produce

the

system’s

outputs.

Data

used

by

the

system

comes from the accounting and other corporate databases. In the following sections of

this

article

we

will

examine

in

detail

each

of

the

aforementioned

planning

system

components.

Before

proceeding,

however,

we

will

make

a

pause

to

discuss

the

ontology

of

planning. One can readily identify in this figure three major structures: the strategic,

the

motivation

and

the

action

frameworks.

In

the

strategic

framework,

which

is

chiefly

related

to

the

risk

versus

return

dialectics,

we

can

identify

the

external

influences to

corporate

performance, comprising

both

opportunities and threats,

and

the internal ones, materialized by strengths and weaknesses. Suppliers and consumers

negotiating power, entry and exit barriers, competitors and substitute products are the

main determinants of external influences. Technological change has also a pervasive

influence

on

corporate

performance.

Comparing

the

motivation

(ends)

and

action

(means)

frameworks,

we

can

associate

various

levels

or

layers

in

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 actual results to actual actions.

Policy

and

business

rules

are

restrictions

under

which

strategy

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

management

define the desired future performance of a corporation, and identify and decide on the

actions

that

need

to

be

taken

in

order

to

achieve

that

performance.

The

main

steps

comprising a planning cycle are exposed . Corporate control, on the other hand, is an

operational

process

which

aims

to

check

whether

the

actual

performance

is

in

accordance with

the planned one,

and,

eventually, to

modify the planned

actions in