INTEGRATION OF STRATEGIC ANALYSIS TOOLS INTO THE BUSINESS PERFORMANCE MANAGEMENT SYSTEM

The article considers the tools of strategic analysis used in the course of strategic planning, assesses the advantages and disadvantages of these methods.

Business Performance Management in Small and Medium-Sized Enterprises in the Slovak Republic: An Integrated Three-Phase-Framework for Implementation

Business performance management (BPM) is an instrument that allows the fulfillment of business objectives and the improvement of competitiveness in small and medium-sized enterprises (SMEs). When BPM is implemented and measured, it can improve the sustainability and competitiveness of the enterprise. Despite its potential benefits, the possibilities of BPM in SMEs are often underestimated due to the lack of resources (mainly personal or financial). The goal of this paper is to introduce a framework for the implementation of BPM in Slovak SMEs based on research on transportation SMEs. To this end, certain steps that support the efficient introduction and use of BPM in these SMEs will be proposed. Our proposal regarding the performance of BPM is based on the findings of previous research studies along with the results of own questionnaire surveys and personal meetings/interviews with owners/managers of transportation SMEs. The results of this research shows that SMEs are generally not familiar with BPM and how the system is used. Essential elements to implement BPM are lacking in SMEs, and although the BPM system might help these firms improve their competitiveness, SMEs remain uniformed about the advantages of BPM. The proposed framework of BPM implementation in this paper can be used to inform SMEs and to assist them in their decisionmaking processes regarding the application of this system.

BUSINESS PERFORMANCE MANAGEMENT; AN IMPLEMENTATION MODEL

The competitions in industries are very intense nowadays, because of that, a system that can easily use and quickly provide information needed. In recent times, ICT is a part of the company's strategy. This paper will discuss the relation of the company's strategies and their ICT implementation, which used to create knowledge for decision-making. Based on the literature research and interview that have been done so far, a Business Performance Management if formulated into a model can easily monitor the achievement of the company

Enterprise Risk Management – Approaches Determining Its Application and Relation to Business Performance

<p><strong>Purpose:</strong> As management systems, enterprise risk management and enterprise performance management pursue similar objectives and influence each other positively. The paper aims to provide an insight into the relationship between Enterprise Risk Management and Business Performance Management.</p><p><strong>Methodology/Approach:</strong> The paper compares the results of an American study with the results of a Slovakian study. First, the American results are cited and interpreted. Then the Slovak results are presented and discussed. Then the results are compared. In the last part an overall conclusion is drawn, the relationships between the results are shown and practical implications are explained.</p><p><strong>Findings:</strong> The results show similarities, but also differences to Enterprise Risk Management and the relationships between Enterprise Risk Management and Business Performance Management. The paper shows that there are differences in both the management approach and the impact on business performance between American and Slovak companies.</p><p><strong>Research Limitation/implication:</strong> A limitation in both studies is the limited number of participating companies. This is accompanied by a higher probability of error.</p><strong>Originality/Value of paper:</strong> The paper provides new information to the gap related to subjects enterprise risk management and business performance management and their relations.

THE INTRODUCTION OF INNOVATIVE CONCEPTS IN THE MANAGEMENT SYSTEM OF THE SANATORIUM-RESORT ENTERPRISE IN THE CONTEXT OF ENSURING SOCIO-ECONOMIC SECURITY

. Goal. Coverage of introduction of innovative concepts in the system of management of activity of sanatorium and resort enterprises. Research methodology. The following methods were used: analysis (theoretical review of scientific literature on the problem of research); a synthesis that made it possible to integrate individual parts of the facility into a single unit (development of a Balanced Scorecard for health resort enterprises in terms of socio-economic security); benchmarking that allowed us to map concepts (spa marketing, business performance management, and balanced scorecard). Results. The peculiarities of the management system of the sanatorium and resort enterprises in the conditions of social and economic security are considered. It is stated that the concept of management in terms of ensuring the socio-economic security of any enterprise of the sanatorium and resort complex is based on clearly formed systems of organization of management of socio-economic development. The basic methods of implementation, organization and management of social and economic security at the enterprise are distinguished. It is noted that spa marketing is a concept of management of the spa enterprise, which provides a comprehensive study of the needs of clients in the spa treatment and recreation for their fullest satisfaction through complex efforts to produce, sell and promote the spa product in a competitive market with the aim ensuring socio-economic security and profit. The basic processes covered by the concept of Business Performance Management for spa companies are presented. The Balanced Scorecard Balance Scorecard system has been developed for sanatorium and resort enterprises in terms of social and economic security. Scientific novelty. The basic innovative concepts (spa marketing, Business Performance Management and Balanced Scorecard) are proposed, which introduction into the enterprise management system will ensure effective management decisions, achievement of strategic goals, increase of profit and social and economic security in general. Practical importance. The introduction of our proposed concepts into the management system of sanatorium and resort enterprises will provide such an institution with a complete and effective implementation of processes for managing its activities, providing customer service and optimizing the functions and management procedures performed.