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Balanced scorecard system and alternative models of company management

Abstract

Rapid development of corporate governance concepts and management technologies is a characteristic feature of recent years. Particular attention is paid to strategic management. The analysis of the activities of large and medium-sized companies has shown that functioning without strategic management is a very risky undertaking. The research in this direction leads to the emergence of new paradigms, concepts and tools. Currently, more and more companies are interested in using effective methods of managing the company to achieve their strategic goals. In the paper, various systems, models and approaches to evaluating the performance of the company's activities developed and used in practice were considered in a certain sequence and their differences and shortcomings were noted. The most promising of these concepts is the model of a balanced scorecard, allowing to translate specific activities and strategies into a fairly complete set of indicators that actually form a system of strategic control and management. At the present stage, effective financial management becomes insufficient to obtain stable competitive advantages in the company. Important is the availability of a clear strategy, the smooth running of business processes, the effectiveness of the motivation system, customer satisfaction, which allows the company to occupy a stable position in the market and positively influences the growth of its value in the future.

About the Authors

D. O. Satybaldieva
Kazakh National Research Technical University named after K. I. Satpayev
Kazakhstan


G. S. Mukhanova
Kazakh National Research Technical University named after K. I. Satpayev
Kazakhstan


References

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Review

For citations:


Satybaldieva D.O., Mukhanova G.S. Balanced scorecard system and alternative models of company management. Bulletin of "Turan" University. 2018;(3):159-164. (In Russ.)

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ISSN 1562-2959 (Print)
ISSN 2959-1236 (Online)