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外文文献翻译译文

一、外文原文

Abstract

CorporatePerformanceManagement

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

toformulates

t

rat

egyand

(

2)tomanageh

i

s

c

ompany’sp

er

f

orm

ance

.

Inthisa

r

ticlewe

e

xaminethe

second of these tasks and discuss how corporate performance should be

modeledand

nbyconsideringtheenvironmentin

whichacompanyoperates,

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

beu

nder

s

t

ood

by

a

nex

a

m

i

nationof

i

ts

bus

i

n

ess,

o

per

a

ti

ona

landperform

a

nce

managementmod

describethestructurerecommendedby

theauthorsforacorporateplanning,controlandevaluationsystem,themostimportantpartofa

corp

orate performance management system. The core component of theplanningsystem is

the corporate performance evaluation model, the structure of which is

m

appedi

nt

othe

pl

anningsys

t

em’s

da

ta

b

ase,si

m

ula

t

ionmodelsandbudgetingt

ool

s

’structures,

andalsousedtoshapeinformationcontainedinthesystem’sproducts,besidesbeingthenucleusoft

helanguageusedbythesystem’sagentstotalkabout

ologyofplann

ing,theguidingprinciplesofcorporateplanningandthehistoryof”MADE”,thecorporateperform

ancemanagementsystem

di

scus

s

e

d

inthisarti

c

le,arere

vi

ew

e

dn

e

xt,before

w

ep

ro

cee

d

todisc

us

s

i

nde

t

ailt

h

e

structural components of the corporate planning and control system introduced

before.

We conclude the article by listing the main steps which should be

followedwhen

implementing aperformance planning, control and evaluation system for a

company.

1. Introduction

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

officerisprimarilyresponsibleare(1)toformulatestrategyand(2)tomanagethecompany’sperf

ormance. In thisarticle we examine the second of these tasks and discuss how

corporateperformance should be modeled andmanaged.

T

operfo

r

mistoac

c

ompli

s

h,

t

o

a

chieve(de

s

i

r

ed)r

e

s

u

ltsoroutc

om

,whe

n

talkingabo

utcorporateperformance,wearereferringtothedegreebywhichdesired

resultsoroutcomesarea

ngcorporateperformance

involves planning,

only

controlling,

the analyzing and evaluating, not

resultsachieved

bythecompany,he

re

sults,orgoals,pursuedbymostcompanieswecanmentiongrowth,marketshare,

profitabilityan

dvaluecreation;andthemeanstoachievetheseresultsincludep

roductivi

ty,

effect

i

veness,innova

t

iona

nd c

ompetiti

ve

nes

s

.T

hos

e

a

rethe

t

y

p

eofthings we should have in mind when

specifying a corporate performancemanagement

system.

Before discussing how to model corporate performance, it is convenienttoconsider

the environment in which a company operates, which includes, besides

out

s

i

de

sta

ke

holde

rs

, the indust

r

y

i

t be

l

ongs and the marke

t

it suppli

e

s

.

Themain

aspectsofanindustrytobelookedatwhen

consideringitsinfluenceoncorporateperformancearestructureandregulation,themaincompetito

rs,entrybarriers,

substituteproductsandsupplier’atedquestionsare

:Howproduction is organized, vertically or horizontally? How much competitive

isthe

i

ndustry and who are the m

a

in competitors, t

h

ose tha

t

ca

pt

ure th

e

l

a

rges

t

part

oft

hemarketshare?Is itunregulated,self-

regulatedorregulatedbyagovernmentagency?Howstrongarebarrierstotheentryofnewcompetito

rs?Canproductsfromother

industries function as substitutes for the ones produced in the

industry? Whataboutthe power industry suppliers have when negotiating prices and

tradeconditions?

At the opposite side of the industry in the corporate environment we

havethe

marketwherethecompanytradesitsproducts,itsmainattributesbeing

size,growth

rate,segmentation,exitbarriersandconsumers’lquest

ions

thatshouldbeaskedwhenassessingitseffectoncorporateperformanceare:Whatisthe

marketsize,indollars,foreach of the company’sproducts?Whatarethe

short-term and long-

term market growth rates? Is it a wholesaleor a retailmarket?Are the sales cyclical?

How can the market be segmented (by geography, purchasing