Positioning of Controlling in the Performance Management System of Cultural Sector Companies

The article studies the specifics of implementation of controlling in cultural sector companies. Hindering factors and grounds for implementation of the controlling system in cultural sector companies were revealed on the basis of the results of empiric studies. The instruments of operating and strategic controlling were considered. Scientific novelty of the study lies in revelation of the factors hindering implementation of the controlling system and setting of the controlling instruments for measurement of the performance efficiency of cultural sector companies.

Operative Production Controlling as Entrance into Controlling 4.0

Purpose of the article: The paper focuses on the potentials and benefits controlling provides for companies in the transition period towards industry 4.0. Operative production controlling provides data that shall be used in the future to apply the concept of smart factories. This article proposes a controlling archtitecture based on computer-aided standardization. Methodology/methods: The paper develops an architecture on operational production controlling based on an international literature review. Literature on controlling 4.0 are found mostly in publications in German language. While this literature has its focus on controlling as a whole or on strategic controlling, the paper has a look on operational controlling and its further usage and development towards smart factories. Scientific aim: The aim of this article is to develop a model of an operational production controlling architecture that is able to suite the requirements of smart factories by using computer-aided standarization. Findings: Research is working on concepts for industry 4.0 and its way towards real implementation. Competitive advantage in industry 4.0 is created through digitization and robotization. An architecture that fully complies to industry 4.0 is still waiting in real companies due to technical limitation in data storing, retrieval and processing as well as storage capacities. Conclusions: The paper discussed the devlopment of a controlling architecture suitable for industry 4.0. Already today controlling is making use of data. Smart factories shall make use of production data. Production controlling together with the CAS, that is able to provide standardized data on all manufacturing, maintenance, and auxiliary processes, systems are able to make a step forward towards smart factories. The concept of production controlling combined with the strengths of a CAS may be seen as the basis from which to target smart factories and industry 4.0.

Organizational and economic mechanism for implementing the functions of state strategic controlling at industrial enterprises

The prerequisites for increasing the role of public administration in organizing the production of special–purpose products based on the use of state strategic controlling are considered. An organizational and economic mechanism for the implementation of the functions of state strategic controlling at industrial enterprises is proposed, which is characterized by the integration of controlling functions in industry and the state acceptance system and involves the introduction of an integrated organizational structure of controlling.

Challenges and Risks in the Due Diligence Process Answered with an Innovative Approach

In existing academic studies on the Due Diligence process, the different areas have been considered separately. This is time consuming and causes inefficiencies. The proposed approach to Due Diligence integrates these separate areas into one process. While every company’s success can be defined by a few key factors, these differ by industry. The goal of this analysis is to develop a basis for decision-making regarding Mergers and Acquisitions for small- and medium-sized manufacturing companies by generating a scorecard model that enables the potential acquirer to perform an overall analysis of the existing data as well as to generate an informed outlook for the future using a standardized and efficient approach that also has a positive impact on the success rate of mergers and acquisition transactions. The model is based on different research methods. First of all, a literature research was executed, to define the theoretical framework. There are two main areas, the Strategic Controlling on the one hand and M&A on the other hand. The theoretical findings are specified through expert interviews. The expert interviews are semi-standardized. There is a quantitative and a qualitative part. Based on the analysis, a concept for a leaner DD approach is developed. The article presents a sum up of the research. Doi: 10.28991/HIJ-2021-02-01-06 Full Text: PDF

Assessment of the sustainability of organization development in the process of strategic controlling

Development of an enterprise in a market environment is a complex process of interaction and mutual influence of multidirectional factors. This requires effective control, which allows not only to determine the operational state of an enterprise, but also to assess its strategic stability in the future. In this regard, the relevance of the search for effective tools for assessing the sustainability of an enterprise in the process of strategic control increases. The purpose of the research is to develop guidelines for assessing the sustainability of an enterprise based on an analysis of existing theoretical approaches. The methodological basis of the research is a structural and functional approach, which provides for taking into account not only functional, but also structural aspects in the methodology for assessing the sustainability of an enterprise. To achieve the goal of the research the following methods were used: theoretical generalization, analysis and synthesis, system approach, comparative and structural analysis. The system of indicators for the development of an economic entity, which makes it possible to assess the stability of an enterprise in quantitative, qualitative and structural components, which contributes to an increase in the level of validity of decisions, as well as an algorithm for an integral assessment of the development of an enterprise, which makes it possible to implement strategic controlling of enterprise stability have become the results of the research. The scientific novelty of the proposed materials lies in the development of theoretical and methodological approaches to assessing the sustainability of enterprise development in the process of strategic controlling. Theoretical significance of the research lies in the development of methodological foundations for the formation of an effective system of strategic controlling at an enterprise. The practical significance lies in the substantiation of tools for assessing the sustainability of an enterprise in a strategic perspective. The results can be used in strategic enterprise management. Formation of an adequate, reliable and objective information base for assessing the sustainability of its development is a prerequisite for effective strategic controlling. On this basis further analysis is carried out and measures are developed to improve the management process. Assessment of development sustainability is an important part of controlling the functioning of an enterprise.

FORMATION OF ENTERPRISE DEVELOPMENT STRATEGY WITH USE OF STRATEGIC CONTROLLING INSTRUMENTS

The article summarizes the methodological approaches to the formation of a strategy for the use of strategic controlling based on the analysis of the state of the external and internal environment, research of innovative activity and assessment of innovative potential. The author provides his own understanding of the essence of strategic controlling and establishes its main tasks in the enterprise management system. Different views to the definition of controlling, its functions and methods are researched. Systematization of knowledge is considered to order the role of controlling in contemporary economical thoughts. A place and a role of controlling in company management are determined. The information on practical possibilities of using the tools of strategic controlling is generalized and systematized. An attempt has been made to classify the controlling toolkit by industry and duration of the analyzed periods. The perspectives of controlling management technology are disclosed, due to the peculiarities of national economic conditions. The place of controlling in the enterprise management system as a central subsystem has been determined. The tasks, areas of application and objects of controlling have been defined. The factors of external and internal environment of the enterprise in modern conditions of management are characterized. For the successful implementation of strategic controlling, the advantages and disadvantages of its current tools are determined, the choice of which should be carried out due to the specific features of an individual enterprise. Taking into account all groups involved, the main goal of developing a new strategy for the enterprise was its preservation, improvement and development. The new development strategy aims to increase the value of the enterprise while achieving material, environmental and social goals. When introducing controlling, it is necessary to carefully evaluate the tools that will be introduced and compare the complexity of implementation, the need for the information received. The prospect of further research within the framework of this problem is the complex implementation of tools for the implementation of strategic controlling of production and economic activities at industrial enterprises.

THEORETICAL ASPECTS OF FORMATION OF THE FACTOR MANAGEMENT SYSTEM OF INDUSTRIAL ENTERPRISE DEVELOPMENT ON THE BASIS OF STRATEGIC CONTROL

The article outlines some aspects of the formation of the management system of development factors on the basis of strategic controlling at an industrial enterprise. The emergence of the need to control the management of industrial development in the current economic conditions of Ukraine is due to the instability of the external environment, increased competition in domestic and foreign markets, increased risk, the need for constant monitoring of changes in external and internal environment. forecasting, increasing the role of planning the activities of the enterprise not only in the short term but also in the long run. The works of scientists who studied the implementation of strategic controlling and management of development factors in an industrial enterprise are analyzed. The system of strategic controlling provides for the analysis and consideration of factors of the external and internal environment of the enterprise, so the article analyzes and summarizes the factors influencing the development of industrial enterprises. It is determined that all industrial enterprises, carrying out production and economic activities, constantly feel the influence of factors of different nature and direction. The author's approach to the classification of factors of development is offered. The factors of development of the industrial enterprise which can be directed by means of system of strategic controlling of the enterprise are defined. The mechanism of increase of efficiency of factors of development of the industrial enterprise which by means of continuous monitoring of an estimation of efficiency of development of the enterprise allows to react in advance to system of strategic controlling and by that constantly to improve the mechanism is developed. The algorithm for forming a strategy for sustainable development of an industrial enterprise has been improved, where due to the constant closed cycle of strategic controlling there is an opportunity to develop and implement an effective development strategy at the enterprise. The advantages of the presented author's method are that it is universal in application, based on a systematic and integrated approach, allows to take into account not only quantitative but also qualitative indicators, obtain information about the main structural components of the enterprise and assess the current state of the enterprise as a whole.

Financial Controlling as a Function of Managing an Organization’s Strategy

The subject of the paper is methodological approaches, tools and methods of controlling for the of forming and implementing purpose to a company’s strategy based on a comprehensive retrospective analysis, realistic budgets and business plans, and assessing the impact of aggressive environmental factors. The study’s goal is to improve the system of information and analytical support of controlling functions in the strategic management system. A set of General scientific, analytical, economic methods and tools used to study the management system of economic entities is used to substantiate the scientific hypothesis, methodological provisions within the research topic, generalize the empirical base, and develop practical proposals for improving the mechanism and managing of the strategic controlling. There was used a complex of analytical and economic methods and tools used to study the system of managing the economic activities of economic entities. This has been made to substantiate the scientific hypothesis, methodological provisions, generalize the empirical base and develop practical proposals for improving the mechanism and organization of strategic controlling. For the theoretical basis development, there was expanded the author’s definition of financial controlling is proposed, and the classification of types of strategies to ensure the financial stability of the organization. In terms of the practical orientation of the research results, which have a universal character and can be used in enterprises of various spheres of business activity, proposals for improving the information and analytical system of strategic controlling are formulated.