企业绩效管理外文文献翻译译文

外文文献翻译译文

一、外文原文

CorporatePerformanceManagement

Abstract

Two of the most important duties of a chief executive officer are (1) toformulates t rat egy and(2)tomanage h i s c ompany’s p er f orm ance.Inthisa r ticlewe e xaminethe second of these tasks and discuss how corporate performance should be modeledand managed.Webeginbyconsideringtheenvironmentin 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 els.Nextwedescribethestructurerecommendedby 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 apped i nt o the pl anning sys t em’s da ta b ase,si m ula t ion modelsandbudgeting t ool s’structures, andalsousedtoshapeinformationcontainedinthe system’s products,besidesbeingthenucleusoft helanguageusedbythe system’s agentstotalkabout corporateperformance.Theontologyofplann ing,theguidingprinciplesofcorporate planningandthehistoryof”M ADE”,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 officeris primarilyresponsibleare(1)toformulatestrategyand(2)tomanagethecompany’s p erf 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 es.So,whe n talkingabo utcorporateperformance,wearereferringtothedegreebywhichdesired resultsoroutcomesarea chievedbyacompany.Managingcorporateperformance involves planning, controlling, analyzing and evaluating, not only the resultsachieved bythecompany,butalsothemeansbywhichtheseresultsarereached.Amongthe 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,substituteproductsand supplier’s negotiatingpower.Associatedquestionsare :How production 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,exitbarriersand consumers’negotiating power.Typicalquest ions thatshouldbeaskedwhenassessingitseffectoncorporateperformanceare:Whatis the marketsize,indollars,foreach of the company’s products?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

power,customerage,etc.)?Whichbarriersdoesaclientrunintowhenchangings uppli e rs? D o c l ients ha v e t he power t o impose pric e s and t ra de conditions?

Wecallthepeoplewhohaveinterestinorareaffectedbya company’s performanceits“stak eholders”,andgroupthemin the

categoriesof“insiders”and“outsiders”.Theinsidersarethe company’s entrepreneursorcontr ollingshareholders and its managers and employees. The outsiders include customers, suppliers, minority shareholders, debt holders, the government in its roles of public goodssupplier,regulatorandtaxcollector,andalsothecommunitieswherethecompany doesbus i ne s s.It isim port ant t onote t hat

s t a kehol de rs,bes i desbeinga f fecte db y,al s oinfluencecorporateperformanceanditisoftennec essarytosearchfortheeffectsof this influencewhen appraisingperformance.

That is meant to increase the depth of this brief analysis of corporatestructureand external relations.Microeconomictheory considers the company as asocial p roductionunit

tha t uses a certa i ntechnolo g ytop r oducea s eto f outputsfromas e tof inputs.Thefunctionthatmapsi nputquantitiesintomaximumoutputquantities obtainablefromtheinputsiscalledthe“productio n function”or“productionfrontier”.Knowledge of this function is important for measuring the technical efficiency ofaproduction unit, a very significant performance metric. Several techniques existfor

t hespe c ifi c at i on of pro duc tion funct i ons or fro nt iers, gr oupe d und e r the nam e so f“Data Envelopment Analysis”and“S tochasticFrontier Analysis”.

Companies are created by entrepreneurs, the agents that organize andcoordinate production with the help of professional managers. Entrepreneurs play a crucialrolein shaping corporate performance. On oneside, recognized entrepreneurial capacity

─and also large contact networks ─are vital for raising the financial capitalnecessary tobuildstructuralorphysicalcapital. On anotherside,the entrepreneurs’reputation and contacts are essential to attract the intellectual capital that, together withthe structural capital, is the foundation of innovation capacity.

A business model is a conceptual representation of the way a companydoes business.Itsmaincomponents,are:the company’s valueproposition;thetargeted

market segments; the distribution, marketing communications, and customer

relationshipchannels;the core competenciesneeded;operating and managementt echnol og ies;t hepar t ner s’ne tw ork;andtherevenue,costand va lue creat i on m ode ls.Understandingthe business modelis the first step to implement acorporate performancemanagementsystem.The modelshould indicate whether the company has a broad customer base or targets specific market segments, and in the secondcase,identifythesesegments.Thegoodsandservicesprovidedbythecompanyandthe com mercial conditions under which they are sold (including such things asguarantees,technicalassistance, etc.), comprise the valueproposition.The channelused forp roductdistr i buti on ca n bea di re c t-t oc ustomer s a l esc ha nnelthroughthe I nte r net,orbe comprised of bricks and mortar companyownedstores, wholesale agents,retail companies,etc.Thecompanycanuseseveralmarketingchannelstogetmessages thro ughtoitscustomers,suchasTVandprintedmedia,andemployacallcentertogive support and receive complaints and suggestions from them. Core competencies ar e t heon e sthecomp an y ne edstomas t erinorde r toga i nac om pet i tivead va nta g ei n relation to other companies in the same marketplace. These competenciesshould restonproperoperationalandmanagementtechnologies,andbe supplemented by a network of partners, if necessary. As a final point, a business model must includea revenue,acostandavaluecreationmodelinordertobeprofitabletothe company’s s hare h old e rs.

We can think of the operational model of a companyasencompassinganorganizationalmodel,afunctionalmodelandacorporatedatamodel. The organizationalmodeldepicts,inaninvertedhierarchicaltree,therolesoftheagents involve dinthe company’s operation.Thefunctionalmodelportraysall theactivitiesthattogetherformthewholeto

whichwereferbytheexpression“company’s operations”,structuredinlogical,sequentialsteps formingoperationalprocesses.At last, the corporate data model is an entity-relationship diagram that shows themain entitiesaboutwhichthecompanycollectsdatawithitsattributesandtherelationshipsbetw eenthem.

Thelastmodelweneedtoexamineinordertounderstandthefunctioningofacorporation is the performance management model it uses, which is, ingeneral,

composedoffourbuildingblocks.Thecorporategovernancesystem,thecorporatep e rfo rmanc ep la nnin g,control a nde va lua t ionsyste m,t he individual m anage r sperformance planning, control and evaluation system and the managementvariable compensation system (or bonus system). The corporate governance systemcomprises three well knownactors, the chief executive officer, the directors and theshareholders,andisdesignedtomediatetherelationsbetweenthem.Underthegovernancesyste m,we find two planning and control systems, having as its targets the performance ofthe company(asawholeandofitsdivisions)andtheperformanceofitsindividualm ana g ers,re s p e ct i vely.L i nking t heset w osyste m sw e finda com p ensa t ions y st e mthat assigns fractions of a bonus pool, which is a function of the aggregatecompany performance,toitsmanagersonthebasisoftheirindividualperformances.An e ffective management model should be forward-looking, that is, centered ontheimprovement of future performance, and focused on valuecreation.

A thorough understanding o f a ll t he m od e l s des c ribed above is anec e s s ary prerequisiteforone tobeabletoplan,monitor,analyze,evaluateand controlcorporate performance.Inthenextsectionwewillexamineinmoredetailacrucial component of the management model previously described: the corporateperformance planning, control and evaluationsystem.

2.The C orporate P erf o rmanc e Planni ng,C ontrolan d Eva l u at io n System.

That shows the structure recommended by the authors for acorporateplanning,controlandevaluationsystem,themostimportantpartofacorporateperforma nce management system. The core component of the planning system, as can bededucedfrom its central position in the mentioned figure, is the performance evaluationmodel.Thestructureofthismodelismappedintothe system’s database,simulationm odels and budgeting tools’structures, and also used to shape information contained in the system’s products,besidesbeingthenucleusofthelanguageusedby

the system’s agentstotalkaboutcorporateperformance.Thecorporateplanningand controlprocessisformedbythecoordinatedactionsoftheplanningandcontrolagents,whoseaimist hegenerationofthe system’s outputs,which includeassumptions,goals,forecasts, plans, budgets, investment projects, performance valuations, variance

analysis,etc.Theseproductstaketheformofpaperandelectronicdocumentsands pread s heets,a nd of PowerPointpresent a t i ons.T he a gents fol lowanagreedupontime schedule and rely on a business intelligence (BI) software to support theiractions.TheBIsoftwareimplementstheperformanceevaluationmodelforthepurposesof rep resenting and simulating corporate performance and provides the necessarytools forthe system’s agentstoproducethe system’s

outputs.Datausedbythesystem comes from the accounting and other corporate databases. In the following sectionsof thisarticlewewillexamineindetaileachoftheaforementionedplanningsystemc ompon ents.

Before proceeding, however, we will make a pause to discuss the ontologyof planning. One can readily identify in this figure three major structures: the strategic,the motivation and the action frameworks. In the strategic framework, which ischiefly related to the risk versus return dialectics, we can identify theexternal i nf l uence s to corporat e performa n ce, c om pris i ng both opportuni ti es a nd threats, and the internal ones, materialized by strengths and weaknesses. Suppliers and consumersnegotiatingpower,entryandexitbarriers,competitorsandsubstituteproductsarethe ma in determinants of external influences. Technological change has also apervasiveinfluence on corporate performance. Comparing the motivation (ends) andaction(means) fr a meworks, we can as s ociate v a rious levels or l ayers in w hich c or po ra t e aimsaredefinedtothecorrespondingactionclasses,thatis,visiontomission,longtermgo alstostrategy,shorttermgoalstotacticsandactualresultstoactualactions.Policy and business rules are restrictionsunder which strategy and tactics,respectively, must be formulated, and actual action carriedout.

It may be convenient, at this point, to give a general definition of theterms“planning”and“control”.Corporateplanningis a processbywhichmanagement define the desired future performance of a corporation, and identify and decide onthe actionsthatneedtobetakeninordertoachievethatperformance.Themainstepscomprisingap lanningcycleareexposed.Corporatecontrol,ontheotherhand,isan operational process which aims to check whether the actual performance isinaccordance with the plannedone, and, eventually, to modify the planned actionsin

ordertoguaranteethatthefinaldesiredperformancewillbe met. The corporatebudg etisoneo f themostim port antoutputs o fthec orpor atepl a nninga n dcont rol proces s.Itistheprimemanagementtoolusedtoimprovecorporateperformanceand toalignmanageme ntinterests withthoseoftheshareholders.Wecanconcludethis section by stating the nine guiding principles of corporate planning and control:

i.Planning is concerned in first place with results and in second placewiththe means to achieve theseresults.

ii.Planning is concerned with the present value of costsand benefits to bei ncurred in the f ut u re a s a cons e quence of dec i s i ons undertaken in t he pres e nt.

iii.Themainobjectiveofplanningis to createvalueforthe corporation’s shareholders.

iv.Fortheabovegoal to bemet,itisnecessarytofulfill customers’expectations concerning quantity, price and quality of marketed products at the least possiblecost,and to m ai nta i n a skilled and full y m otivat ed w or k force.

v.Planning and control activities should be organized through a systemwhosecomponents are the planning and control agents, process, time schedule,products,models&tools,anddatabase.

vi.Thecorporatebudgetshouldbe the planningandcontrol system’s product t hat consol i dat e s t he r es ul ts w hi ch the company p lans to achi ev e i n the next period and the actions it should undertake in order to meetthem.

vii.The corporate budget must contain all the information necessary forthe evaluation of the short term planned performance of the company, itsmarketing,operational, economic, patrimonial and financial aspects being dullyconsidered.

viii.The corporate budget should not be viewed exclusively as a means ofcost reductionorcontrol,butmainlyasatooltoenhanceperformanceandincreasethe company’s economicvalue.

ix.The planning process in itself is as important as its outputs, andshould contributetoleverage management’s knowledgeabout the company’s i nternal workings, and also to help focus its efforts on the critical areas ofcorporateperformance.

S ource: Pedro Góes MonteirodeOliveira STARPLAN ConsultoriaEmpresarial Ltda.,2009.“Corporate Performance Management”.WorkingP aper,vol.41,no.4,pp.1-7..

二、翻译文章译文：

企业绩效管理

摘要

行政总裁两个最重要的职责是：制定战略和处理他的公司表现。在这篇文章中，我们研究了这些任务和谈论企业业绩应该如何进行建模和管理。我们首先考虑的是一间公司的经营环境，其中包括的，除了外部利益相关者，其所属的行业和市场的实用品，然后进行解释如何运作的公司可以通过业务考试的理解，操作和性能，管理模式。接下来，我们描述了企业结构的规划、控制和评价体系是企业绩效管理系统中最重要的一部分。创办者建议：该规划系统的核心部件是企业绩效评价模型，它的结构映射到规划系统的数据库，仿真模型和预算编制工具的结构，也可用于塑造系统的产品中包含的信息作者的代理人系统所使用的语言谈论公司业绩。在这篇文章中讨论整体的规划，企业规划，企业绩效管理系统，在历史的指导原则的审查下，在我们开始详细讨论的企业计划和控制系统的结构组件出台之前，我们的结论是通过列出所应遵循的演出策划实施，控制和评价系统的主要步骤。一、介绍

行政总裁最重要的两项企业任务，主要是：（1）制定战略和（2）管理公司的业绩。在这篇文章中，我们研究了这些任务和企业业绩应该讨论如何进行建模和管理。

他要做到的是完成实现期望的结果或成果。所以，当有关公司绩效时，我们指的程度，其中期望的结果或成果是由公司实现。企业绩效管理涉及规划、控制、分析和评价时，不仅是该公司取得的成绩，而且其中达到这些结果的手段。其中的结果或目标在大多数公司，我们可以提到增长市场份额、盈利能力和创造价值

追求的目标和手段，取得这些成果包括生产力、效率、创新和竞争力。这些都是对事物类型的研究，我们应该考虑到指定的企业绩效管理制度。在讨论如何塑造企业业绩，可以很方便地考虑环境中一间公司经营，其中包

括的，除了外部利益相关者，其所属的行业和市场的实用品。当对一个行业的主要方面加以研究时，考虑到其对企业业绩的结构和管理，其主要竞争对手，进入壁垒，替代产品和供应商的谈判能力。相关的问题是：如何组织生产，垂直或水平？行业有多少竞争力，谁是主要竞争对手，哪些是捕捉市场份额最大的一部分？它是不是受监管，自我监管或政府机构的监管？多么强大是新的竞争者进入市场的障碍。从其他行业可以为产品功能的替代品在同行业中产生的？有什么关于电力行业的供应商进行谈判时所需的价格和贸易条件。

在本行业中的企业环境的对面，我们有市场，该公司交易的产品，其主要属性是大小、生长速度、分割、退出壁垒与消费者的议价能力。评估其对企业业绩影响的典型问题是：什么是市场规模？以美元为单位计算公司的每一个产品，什么是短期和长期的市场增长率？它是一个批发或零售市场？是销售周期？如何才能在市场的分割（按地域，购买力，客户年龄等）？哪些障碍做了客户端运行时将改变供应商？客户是否有权征收价格和贸易条件？

我们呼吁在“自己人”和“外人”的类别，有兴趣的人或由一个公司的业绩的“利益相关方”的影响，并分组。业内人士是公司的创业者或控股股东及其管理人员和雇员。外界包括公共物品的供应商，监管和收税，也是社区所在公司有业务往来中的作用的客户、供应商、少数股东、债权人、政府。重要的是要注意的是利益相关者，除了受这个的影响，也影响企业业绩，这一点是经常需要寻找性能评价的影响。

为了增加这种企业结构和外部联系，微观经济理论简析深入社会生产视为一个单位，使用一定的技术来生产的投入产出一套一套的公司。它认为将最大输出量与输入索取地图输入量被称为“生产函数”或“生产前沿”功能。这个函数的知识是衡量一个生产单元，一个非常重要的性能指标技术效率的重要。存在的若干前沿技术规范生产功能或“分析，随机分组前冠以”数据包络分析“和随机前沿分析”。

公司也得到了企业经营者，代理人，组织，协调与生产的专业经理人的帮助。