Strategy evaluation is the final step strategic planning and continues at all stages of the implementation of the strategy. It can be done in two ways:
Evaluation of the specific strategic options developed to determine their suitability, feasibility, acceptability and consistency for the organization;
Comparison of the results of the implementation of the strategy with the level of achievement of goals.
An effective assessment system requires four main elements:
1. Motivation for evaluation. Before an evaluation can be made, the leader of the organization must be willing to evaluate his performance or the strategy he or his team wants to implement. This desire is driven by the realization that it is necessary to achieve a match between the organization and the proposed strategy. There is another potential motivating factor: if the manager hopes to receive remuneration depending on the compliance of indicators with the tasks set.
2. Information for evaluation. Another requirement for the credibility of the evaluation is information in a user-friendly form to evaluate the proposed strategy, as well as its consequences after implementation. This requires efficient system collection and processing of management information, as well as a complete and reliable report on the possible results of the proposed strategies and the results of their implementation.
3. Evaluation criteria. Strategies must be evaluated against certain criteria. These criteria can be grouped as follows:
* Sequence of implementation of the strategy. The strategy is determined by the goal of the upper level, so it should not contain lower-level goals that are inconsistent with the upper level.
* Consistency with the requirements of the environment. The strategy must correspond to the external environment and the critical changes taking place in it.
* Feasibility of the strategy. The strategy should neither overestimate available resources nor create unsolvable problems in the future.
* Acceptability for stakeholders. The strategy must match the expectations of specific support groups.
* Advantage in relation to competitors. The strategy should provide for the creation or maintenance of competitive advantage in the chosen area.
4. Decisions based on the results of the evaluation of the strategy. Evaluation in itself is not the final step. It should guide decisions about the choice of strategy and help determine its effectiveness. To this end, appropriate systems of corrective actions should be developed based on the assessment of the information provided.
In today's rapidly changing environment external environment and internal capabilities of companies, evaluating the effectiveness of the chosen strategy is an essential part of the strategic management process. This stage turns it into a closed cycle, into a consistent continuous process.
Currently complete system there is no evaluation of the strategy. There is no clear theoretical and practical position regarding its principles.
In the management literature, economists distinguish the following aspects of the effectiveness of the company's strategy Vikhansky O.S. Strategic Management: Textbook. - 2nd ed., revised. and additional - M .: Gardariki, 2010. - P. 29 .:
internal efficiency - efficiency in terms of using the company's internal capabilities or in terms of managing internal resources;
external efficiency - efficiency in terms of using the external capabilities of the company;
overall efficiency - a complex set of internal and external efficiency;
market efficiency - how fully the consumer's needs are satisfied in comparison with alternative ways of satisfying them;
target efficiency - reflects the measure of achievement of the organization's goals.
To evaluate the present strategy, the company should first of all determine what the chosen strategy is. What is the company's approach to competition - does it strive to achieve the lowest production costs in the industry or focuses on a specific group of consumers and market niche in order to break away from its pursuers. Another important point is to determine the competitive position of the company in a given industry of goods and services - the degree of its vertical integration and territorial coverage. Functional support strategies should also be identified and analyzed in the areas of production, marketing, finance, labor resources and so on. Careful study of the motives for each part of the strategy - each step and each functional approach - will also bring clarity to the essence of the current strategy.
Evaluation of the effectiveness of the strategy is carried out at three different levels - an individual manager, at the level of a functional unit, at the level of the company's management system as a whole.
The criteria for evaluating the effectiveness of a manager are:
manager's potential - his qualifications, knowledge, skills, abilities, psychological traits;
manager's work - the typical complexity of his tasks, the time spent on performing typical tasks;
the results of the manager's work from all angles: his individual work, his contribution to the indicators of the functional management apparatus in which he works, and, finally, his contribution to the results of the activity of the object of management subordinate to him.
The assessment of the functional divisions of the company is carried out on the following four positions:
assessment of the qualifications of the unit's personnel. This assessment is an average assessment of the level of qualification of managers and specialists who are part of the functional management body;
assessment of the organization of managerial work in the unit. Here, the forms and methods of interaction between managers of the unit with the object of management and among themselves are evaluated. As part of this procedure, the feasibility of staffing, distribution official duties in the department, as well as the document flow of the department;
assessment of control technology. The modernity and efficiency of methods used in management, the use of technical means and computer technologies in the management process;
performance evaluation management activities. This assessment is made taking into account the specific tasks facing this functional unit.
Evaluation at the management level of the company as a whole is reflected in a large set of indicators used to characterize its activities. These metrics include:
coefficients reflecting the position of the company in the market;
coefficients characterizing the effectiveness of the use of the enterprise's personnel;
coefficients characterizing the financial condition of the company;
indicators characterizing the investment attractiveness of strategic decisions.
20. Criteria for the effectiveness of the business strategy.
To quantify goals and evaluate activities. companies are introduced performance criteria . Performance indicators can measure different aspects of activity and can be expressed in different units (rubles, hours, natural forms, coefficients).
They can use how to evaluate deeds. the whole trade. org., and to study the effectiveness of individual business processes.
Can be distinguished three main areas of use of performance criteria:
1. linking strategic decisions with operational management and comparing alternatives;
2. evaluation of the effectiveness of individual solutions over time;
3. identification and elimination of operations that are unsatisfactory with t. efficiency-cost ratios.
The choice of performance criteria is a strategically significant task; the success of the organization itself largely depends on this. When choosing criteria, it is necessary to choose priorities in order to assess the situation, if some indicators are met and others are not.
Performance criteria should be linked to time, deadlines and the respective groups that are responsible for achieving certain indicators.
There are the following types of indicators taken into account in the strategy:
1. indicators of compliance with standards or regulations (quality, share of domestic products in the assortment, liquidity indicator, etc.);
2. indicators characterizing the compliance of business processes and business operations with the company's goals (they focus on individual processes and operations, as a rule, efficiency is assessed as the fact of achieving the goal);
3. process time indicators, measured in terms, days, hours, etc.;
4. indicators of the cost of the process (such criteria are associated with the change and expenditure of resources and are the most common in practice);
Some of the performance criteria are requirements:
Link to strategy. In this case, the company deliberately refuses performance criteria that are not related to the development strategy;
Performance indicators should not be ambiguous;
Performance criteria should correctly reflect the conditions of the company and its capabilities.
Performance indicators should not be contradictory and should be balanced (it is not allowed to improve one at the expense of the other).
21. The McKinsey matrix and the "opportunity-vulnerability" matrix: essence, principles of construction, use of results in developing a business strategy.
Opportunity-Vulnerability Matrix. The hypothesis on which the matrix is built is the experience curve. It does not show the real situation. The Y-axis reflects the return on equity (preferably), but in companies operating in the same or related industries, it is also possible to use the return on sales indicator. The x-axis is inverted, a logarithmic scale is used, and the ODR is displayed.
The positions of each division are placed in this matrix, the size of the circle characterizes the amount of profit. If information about competitors is available, a similar matrix can be built on them. Based on the collected data, the normal zone is marked - the zone in which most units fall. For such a zone, the rule is observed under which an increase in the ODR leads to an increase in profitability. The feature of the matrix is that the normal zone is not analyzed. But in the matrix invert Special attention for exceptions. Allocate a zone of opportunities and vulnerabilities.
Opportunity Zone is below the normal zone and assumes that divisions, having significant advantages over competitors, do not receive high profits. The organization has a strong market position, not supported by high profitability. Most likely, this indicates the inefficient work of the unit, and, accordingly, there is a possibility of increasing efficiency and making a profit. This zone contains the main growth reserves.
Conditions under which it is difficult to find growth reserves:
1. if the company supports low prices in order to drive out competitors.
2. if the organization falls under state regulation.
3. if there is a negative scale effect for the industry.
4. if the organization implements a strategy of low prices, deliberately giving up high profitability in favor of sales volumes.
Vulnerability zone, in which the division, despite the weak position in the market, receives high profits and profitability. As a rule, this means that profitability will decrease in the future.
There are conditions under which falling into the vulnerability zone does not entail the threat of a decrease in profitability:
If an organization is implementing a focusing strategy;
If there is negative economies of scale in the industry;
If an organization has key competencies, experience and knowledge that allow it to work more efficiently than its competitors, in this case the company must, why the presence of such competencies does not allow to increase the SDR.
If the market leader maintains high prices and the competition map has already been formed.
If these exceptions do not apply, then the organization should develop a program of action without waiting for the decline in profits and profitability.
McKinsey Matrix. Proposed by the McKinsey consulting company for General Electric in the late 1970s.
It involves the replacement of quantitatively measurable factors of the BCG matrix with qualitative indicators, which allows taking into account a larger number of factors.
Accordingly, instead of the “market growth rate” indicator, the “attractiveness of the market” indicator is used along the Y axis, and the “competitive status of the company” (market position) indicator is used instead of “ODR” along the X axis.
Each of these parameters is defined as a weighted average of expert estimates of individual factors that characterize these parameters.
For rate market attractiveness the following options:
Market size (sales volume in monetary and physical terms);
Sizes of key segments (characteristics of the main customer groups);
Market diversification;
Tendency to be cyclical;
Market sensitivity to prices, level of service, changes in external factors.
For rate strategic position the following options:
Market share of the organization;
The degree of participation of the organization in diversification;
The nature of the organization's relationship with suppliers;
The possibility of influencing consumers;
Having a sustainable competitive advantage.
The procedure for constructing the McKinsey matrix:
1. The attractiveness of the industry for each SBU is assessed. Initially, the factors are determined, then they are assigned a weight value (sum = 1). An assessment is given to each factor for each SBU (on a certain scale). The weighted average is determined (corresponding weight * resp. score and then summarized);
2. similar work is carried out to determine the strategic position of each SBU, based on the results of which a weighted average assessment of the competitive position is determined;
3. each SBU is positioned in the matrix. According to Ox - the strategic position (it is inverted), according to Oy - the attractiveness of the market.
Matrix Feature: Hitting one or the bye zone is subjective.
The size of the circle characterizes the amount of revenue. In the circle, a sector characterizing the occupied market share is singled out.
The matrix is built for a number of periods, the arrow reflects the direction of the shift in time.
The results obtained are interpreted.
The matrix has dimension 3x3.
1. Preservation and strengthening of the market position by: investing to ensure growth at the highest possible rate;
concept strategic management and its features
Today, strategic management is an integral element of managing any business. successful business. The unity of approaches to its definition has not been developed so far. In a general sense, strategic management should be understood as the activity of managing the development of an organization in long term. It is based on setting goals and objectives, as well as building relationships between the organization and the external environment, allowing to achieve the set development goals and corresponding to the internal capabilities of the company.
The objects of strategic management are the companies themselves, their functional areas and strategic business units. The subject area of strategic management covers a wide range of issues related to the company's activities, its resource potential and the external environment.
Remark 1
The fundamental task of managing an organization from the position of strategic management is to ensure the sustainability of business development in the long term. The solution of this problem is possible only through the implementation of the basic principles of strategic management, including its complexity, consistency, priority, prospects and feasibility.
Since strategic management is management process, its implementation passes sequentially, through certain stages. At the initial stage, an analysis of the internal environment of the company and its external environment is carried out. Next, the vision of the business, its mission and strategic goals are determined. On their basis, the choice of optimal types (kinds) of strategic alternatives is made and the formation of the strategy itself takes place. Next comes the turn of the direct implementation of the chosen strategies, which should be accompanied by their control and evaluation. Evaluation, in turn, implies the need to determine how effective the implementation of the strategy and strategic management as a whole is.
Remark 2
Strategic management is based on the development and implementation of the company's development strategy.
strategy in modern world does not have a clear interpretation. Most often, it is customary to perceive it as a comprehensive management plan that contains a combination of methods for organizing a business and conducting competition, and aimed at achieving organizational development goals.
Strategies lend themselves to multiple classifications on various grounds. Most often they are divided into three groups according to the levels of the hierarchy:
- corporate;
- business strategies;
- functional.
Each of the groups has its own characteristics and semantic load. Within each of the groups, strategies are divided into many subspecies. Their generalized characteristics are shown in Figure 1.
Picture 1. Comparative characteristics levels of strategic management. Author24 - online exchange of student papers
In accordance with the presented classification, strategic management is also implemented at three levels of the hierarchy. The highest level is corporate-wide, followed by business and only then - functional. The higher the level, the more difficult it is to achieve the effectiveness of strategic management.
Evaluation of the effectiveness of strategic management
The effectiveness of strategic management is an ambiguous concept. Its interpretation largely depends on the objectives of the assessment and its information potential. Most often, the effectiveness of strategic management is perceived and, accordingly, evaluated from two positions:
- as a consistent and nucleon progress towards achieving the set strategic goals of business development;
- as results, profit growth and increased customer satisfaction are indicated.
In the first case, we are talking about the degree of achievement of the goals set within the framework of the developed strategies in the process of their implementation. In the second case, it means directly economic efficiency, determined by the excess of the results obtained during the implementation of the strategy over the costs of its practical implementation. Thus, the effectiveness of strategic management can take both quantitative and qualitative assessment.
Indicators of the effectiveness of strategic management are reflected directly in the indicators of the implementation of different levels of the company's strategies. Such indicators can be an increase in sales volumes, an increase in profits, an increase in the quality of service and customer service, the introduction of new production technologies, an expansion of the branch network, etc.
The effectiveness of the strategic management system is determined by a number of parameters. First of all, we are talking about providing a comprehensive and systematic view of the organization, its internal potential and external environment. The implementation of strategic management facilitates the decision-making process through the use of special approaches, methods and concepts to the collection of information and its processing.
An important advantage of using a strategic approach in management is to ensure coordination and communication between various departments and business units of the company. Finally, by making it possible to anticipate business development trends, strategic management makes it possible to make the right choice from a long-term perspective and effectively coordinate resources to achieve set goals.
Speaking about the effectiveness of strategic management, we must not forget that strategic management business cannot be reduced to a simple set of routine procedures and schemes. It is always a complex process that requires the participation to some extent of all members of the organization.
Be that as it may, the main indicator of the effectiveness of strategic management is always its development and the degree to which goals are achieved, and the key to any efficient business considered a strategy.
Improving the efficiency of the IC, as well as managing the complex, is carried out at three levels: managerial, corporate and at the enterprise level.
The efficiency obtained by the SC as a result of its activities depends on many components and is determined according to the objective function
, Y® → max ,
where V- option for the development of the complex;
X - external and internal factors influences influencing the formation of a strategic management system;
P- the accumulated potential of the enterprises of the complex;
R- resources necessary for the implementation of investment and construction activities;
Q – the volume of products produced by the UK, thousand rubles;
I– attracted investments;
BUT - the situation of the external environment in which the UK enterprises operate.
Assess how successfully the activities were implemented investment strategy at the top level, helps to calculate indicators regional efficiency and identifying ways to increase it.
The indicators of sectoral and regional efficiency of a particular project include:
without discounting:
net income;
Payback period;
Index of profitability of expenses;
Financial feasibility of investment strategy projects;
The need for additional funding;
with discount:
The total accumulated value of discounted income;
net present value,
Investment efficiency ratio,
Payback period, taking into account discounting,
profitability index,
Investment return index,
The need for additional financing, taking into account discounting.
Total accumulated value of discounted income(PV) and net present value(NPV) are respectively calculated by the formulas
; (2.29)
, (2.30)
where r- discount rate;
IC- the amount of investment in the project;
k – year for which NPV is calculated.
When forecasting income by years, it is necessary to take into account, if possible, all types of income, both industrial and non-productive, that may be associated with this project. So, if at the end of the project implementation period it is planned to receive funds in the form of the salvage value of equipment or the release of part working capital, they should be accounted for as income of the respective periods.
If the project involves not a one-time investment, but a consistent investment of financial resources over m years, then the formula for calculating NPV modified as follows:
, (2.31)
where i- predicted average inflation rate.
Under return on investment index (IRR) understand the value of the discount factor at which NPV project is zero:
IRR = r, at which NPV = f(r) = 0. (2.32)
Meaning IRR shows the maximum allowable relative level of expenditure that can be associated with a given project. For example, if the project is financed entirely by a loan from a commercial bank, then the value IRR shows the upper limit of the acceptable level of the bank interest rate, the excess of which makes the project unprofitable.
To determine the value IRR the method of successive iterations is applied using tabulated values of discount factors. To do this, using the tables, two values of the discount factor are selected r 1 <r 2 so that in the interval ( r 1 ,r 2) function NPV=f(r) changed its value from "+" to "-" or from "-" to "+". Next, apply the formula
, (2.33)
where r 1 - the value of the tabulated discount factor, at which f(r 1)>0 (f(r 1)<0);
r 2 - the value of the tabulated discount factor, at which f(r 2)<0 (f(r 2)>0).
The calculation accuracy is inversely proportional to the length of the interval ( r 1 , r 2), and the best approximation using tabulated values is achieved when the length of the interval is minimal (equal to 1%), i.e. r 1 and r 2 – closest to each other values of the discount coefficient that satisfy the conditions (in case of changing the sign of the function from "+" to "-"):
r 1 - the value of the tabulated discount factor, minimizing the positive value of the NPV indicator, i.e. f(r 1)=min r{f(r)>0};
r 2 - the value of the tabulated discount factor, maximizing the negative value of the NPV indicator, i.e. f(r 2)=max r{f(r)<0}.
By mutual replacement of coefficients r 1 and r 2, similar conditions are written for the situation when the function changes sign from "–" to "+".
Calculation algorithm payback period (PP) depends on the uniformity of the distribution of projected income from the investment. If the income is evenly distributed over the years, then the payback period is calculated by dividing the one-time costs by the amount of annual income due to them. When a fractional number is received, it is rounded up to the nearest whole number. If profits are unevenly distributed, then the payback period is calculated by directly counting the number of years during which the investment will be repaid with cumulative income. The general formula for calculating the PP indicator is:
PP=n, at which. (2.34)
profitability index (PI) is calculated by the formula
. (2.35)
Investment efficiency ratio(ARR) is calculated by dividing the average annual profit PN on the average value of the investment (the coefficient is taken as a percentage). The average investment is found by dividing the initial amount of capital investments by two, if it is assumed that after the expiration of the analyzed project, all capital costs will be written off; if residual or salvage value is allowed ( R.V.), then its estimate must be eliminated.
. (2.36)
This indicator is compared with the ratio of return on capital advanced, calculated by dividing the total net profit of the enterprise by the total amount of funds advanced into its activities (the result of the average net balance).
To calculate the indicators of regional efficiency, the method of cumulative effect for the billing period of the investment project is used ( cash- flow). This technique is as follows:
1. The cash flow from operating activities is calculated by the years of use of the investment project.
2. The balance of investment activity is calculated as an algebraic sum of inflows and outflows of funds due to the implementation of the investment project.
3. The base of taxation and tax deductions is calculated for each period of use of the investment project.
4. The size of the annual installment to repay the loan is calculated.
5. The total balance of cash flow from investment and operating activities is calculated for each year of using the investment project.
6. The balance of accumulated cash flow from operating and investment activities is calculated on an accrual basis, starting from the “zero year”, when the investment costs were incurred, and ending with the last year of using the investment project.
7. The cumulative effect is calculated for the entire period of use of the investment project.
where En i is the total effect of operating and investment activities for each specific year of the investment project, rub.
, (2.38)
here d i - net income from operating activities for i th year of using the investment project, including the amount of net profit and depreciation, rubles;
FROM ki- the balance of inflows and outflows for each year of the investment activity of the enterprise, rub.
The total effect from operating and investment activities, or net income from the implementation of an investment project, includes the sum of net profit and depreciation less investment costs. In this case, net profit is calculated as the difference between profit from operating activities and the amount of taxes paid from profit to the budget.
The number of investments per 1 rub. finished products
K inv = IC/ V, rub. (2.39)
The above indicators are used to evaluate the effectiveness of one project, i.e. enterprise level efficiency.
For the corporate level, efficiency is defined as the total efficiency of the implementation of all projects within the framework of the investment strategy for the consolidation of construction companies.
In addition, to assess the effectiveness of the investment strategy at the corporate level, the indicator is used - production efficiency growth rate E growth.
E gain = 
,
%, (2.40)
where C i - the price of a unit of construction volume;
BUT i 1 - the volume of production of a construction company after the implementation of the investment process;
A i 0 - the volume of production of a construction company before the implementation of the investment process;
FROM i o , C i 1 - the cost of production of the enterprise of the construction complex, respectively, before and after the implementation of the investment project;
N- the number of enterprises included in the construction complex;
, – coefficients of production efficiency of a separate type of product of one IC enterprise, respectively, after and before the implementation of one investment measure. In fact, these coefficients reflect the profitability of the production of a particular type of product.
Let's return to the performance indicators for the management level.
Total economic effect for the region is equal to the sum of indicators of regional efficiency of each investment project implemented within the framework of the development strategy.
E reg = , (2.41)
where Ereg – total economic effect for the region, rub.;
E reg i – regional efficiency i-th investment project, rub.;
n – the number of investment projects implemented in the region as part of the investment strategy.
Regional efficiency indicators reflect the effectiveness of investment strategy measures from the point of view of the respective region, taking into account the impact of the implementation of planned investment projects on the activities of enterprises in the region, the social and environmental situation in the region, and the income and expenses of the regional budget.
The calculation of basic indicators of regional efficiency involves taking into account externality - economic and non-economic consequences arising in the external sphere during the production of goods, but not reflected or not fully reflected in their market prices, as well as public goods - some works, products or services, the consumption of which by one entity does not prevent their consumption by others.
When calculating estimated indicators of regional efficiency, cash receipts from operating activities are calculated based on sales volume and product cost. Additionally, cash flows from operating activities take into account external effects, for example, an increase or decrease in the income of third-party organizations and the population, due to the consequences of the project. Externalities include externalities and public goods.
The additional E d effect obtained in related industries, as well as social E s and environmental E e effects are taken into account only within the region.
The valuation of manufactured products and consumed resources is carried out taking into account regional characteristics.
When calculating sectoral efficiency indicators, it is recommended to take into account that enterprises participating in the implementation of investment projects may be part of broader structures: industries or sub-sectors of the national economy, aggregates of enterprises that form single technological chains, financial and industrial groups, holdings or groups of enterprises.
The total regional efficiency E reg is calculated by the formula
, (2.42)
where n– the number of investment projects implemented within the framework of the investment strategy. For enterprises within the framework of the investment strategy, the effectiveness of its implementation is the sum of the effects from the activities of each construction company that is part of the UK. Evaluation of the effectiveness of the implementation of the investment strategy is calculated using the following indicators.
Construction investment intensity factor characterizing the ratio of investments in the non-construction sector and in the construction industry.
Kint=(I- Ipage)/ Ipage, (2.43)
where I– gross volume of investments in the economy of the region;
Ipage– the volume of investments in the development of the IC, rub.
Investment absorption rate shows the volume of construction investments per unit of production growth.
I osv = I st R /(Vi- Vo) , rub., (2.44)
where Ipage- the volume of investments in the construction complex of the region; rub.;
Vi, Vo- the volume of production of enterprises of the construction complex, respectively, after and before the implementation of the investment strategy measures.
In addition, to assess the effectiveness of the implementation of the development strategy, a number of additional absolute indicators are used, such as the social effect, expressed in the number of newly created jobs, the creation of additional beds in hospitals, student places in secondary schools, places in clubs and cultural centers, places in preschool institutions, visits per shift in polyclinics, the number of families that have improved their living conditions.
Integral economic effect from the implementation of the investment strategy for the region E is.
E is = E un i× Q i, (2.45)
where Eis is the integral economic effect from the implementation of the investment strategy in the region, rub.
e ip i – economic effect from the implementation i-th event of the investment strategy, rub.
Q i– share of investments in i-th event in the total investment in development.
Economic effect for the investor determined using the method cash- flow and is calculated in the business plan of the investment project.
Thus, a system of indicators of the effectiveness of the implementation of the investment strategy at different management levels has been formed (Table 2.4).
Table 2.4
The system of performance indicators for the implementation of the investment strategy at different management levels
|
Management level |
Index |
Designation |
Formula |
|
|
Territorial level |
Regional efficiency i th event |
E reg |
|
|
|
Integral economic effect from the implementation of the investment strategy for the region |
E is \u003d E ip i × Q i |
|||
|
Total economic effect for the region |
Ereg |
Ereg = , |
||
|
Construction investment intensity factor |
K int =(I- I page )/ I page |
|||
|
Investment absorption rate |
K osv = Ipage/(Vi- Vo) |
|||
|
Corporate level |
Growth rate of production efficiency |
e gain |
e gain =
|
|
|
Enterprise Level |
Net cumulative effect from project implementation (net present value) |
|
||
|
Total accumulated value of discounted income |
|
|||
|
Return on investment index |
|
|||
|
Payback period |
PP=n, under which . |
|||
|
Number of investments per 1 rub. finished products |
K inv |
K inv =IC/ V |
||
|
profitability index |
|
|||
|
Investment efficiency ratio |
|
There are two ways to increase the efficiency of a construction company as the main component of the construction complex: by reducing losses and by releasing additional reserves. There are two types of losses: temporary and costly.
The main ways to reduce temporary losses by implementing an investment strategy using an investment policy tool
Consider the main options for the development of the enterprise (Fig. 2.12):
1. Option B-1, “inefficient development”. In this variant, the construction period will consist of the standard construction time laid down in the business project, t norms, the loss time also taken into account in the business project, t sweat, and the total loss of time S t pot, which are obtained based on the conditions of this option, i.e. crisis conditions of activity and imbalance of all factors affecting the efficiency of the construction organization.
Thus, the construction period will be equal to:
T=t norms + t sweat + S t sweat. (2.46)
2. Option B-2, “poorly effective development”. In this option, the construction period will consist of the standard construction time laid down in the business project, t norms, loss time, also taken into account in the business project, t sweat, and total loss of time S t sweat arising from the fact that the development of enterprises is local in nature, due to the weak interaction of the PCF environment with the FPV environment and the almost absence of interaction with the internal environment of the enterprise, St sweat =S t inconsistent
In this option, the construction period is equal to:
T=t norms + t sweat + S t mismatch (2.47)
3. Option B-3, "sustainable development". In this option, the construction period will consist of the standard construction time laid down in the business project, t norms, and loss time, also taken into account in the business project, t norms.
T=t norms + t sweat. (2.48)
4. Option B-4, "maximum development." In this option, the construction period is equal to the standard construction time laid down in the business project, t norms. Thus, even additional time reserves arise due to the reduction of planned losses. t sweat.
T=tnorms.(2.49)
As can be seen in the figure, different construction time in different options with an equal payback period gives different time to effect and, consequently, a different amount of revenue from the project Si.
Sum S 4 will be the maximum, S 1 is the minimum.
The effect of reducing time losses E t occurs when comparing S various options with S ideal option S 4=S max.
Et= Smax –Si.
S 3 ® Smax.
Rice. 2.12. The life cycle of a construction object with various options for the development of an enterprise
The main ways to reduce temporary losses through investment policy are as follows:
1. Formation of a legislative mechanism to minimize the travel time of funds from the investor to the project executor.
2. Accounting for all possible losses at the stage of business design.
3. Taking into account the factors of direct and indirect impact in the development of investment programs.
4. Competent distribution of investment funds between industries. If this condition is met, FCF will have a positive impact on the development of the construction industry.
The main ways to reduce costs through the use of an investment policy tool
At the design stage
1. The presence of a developed infrastructure for the formation of investment policy implies the optimization of the business planning process. The use of a well-established business planning mechanism in the conditions of a certain region can reduce the time for one project, therefore, reduce the price of business design, increase investor confidence in the quality of the project. This will reduce the time to make an investment decision (effect D S cf arising in the course of the project implementation due to changes in external conditions, for example, the level of inflation, tax rates, etc. compared to the predicted ones).
2. The study of possible objects of financing within the framework of investment programs allows you to have the most accurate information about the object of investment and, therefore, use more effective tools and types of investment activities (effect D S inf).
At the project stage
The use of guarantee mechanisms of the government of the region and state guarantee mechanisms will allow:
1) involve in the investment process construction organizations that are stable, but do not have the required amount of collateral for loans (effect D S gar);
2) attract additional investors to the investment process on more favorable terms for the project executor, provision of additional banking services, lending at a lower interest rate (effect D S add, D S percent).
Payback stage
The creation of targeted investment programs will significantly expand and find new sales markets, i.e. get effect D S Sat, in the presence of demand, by reaching the maximum capacity to reduce the payback period of the project (effect D St OK).
The complex impact of the main components of the investment policy will give an integral effect from the implementation of the investment policy E inv.
E inv =+ D S Sat + D StOK+ D S percent + D S Wed + D S inf. (2.50)
The development and effective application of new components of the investment policy will entail a change in the direction of increasing the integral effect and, as a result, will have a positive impact on the entire construction complex as a whole.
| Previous |
- 5.1 Strategic management performance indicators
- 5.2 Evaluation of the effectiveness of the development of teaching staff
- 5.3 Performance indicators of the educational organization
Strategic management performance indicators
Strategic Scorecard
Performance indicator - this is a quantitative or qualitative characteristic, which determines the degree of compliance of the results of the functioning of an educational organization with the set strategic goals and criteria.
Efficiency criterion - this is a condition or requirement that the value of indicators of organizational effectiveness of strategic management must meet.
The system of strategic indicators is built according to the following scheme (Figure 5.1).
Figure 5.1 - Scheme for determining indicators of strategic management
The first steps towards the definition of indicators are the definition of the strategic goals of the educational organization as a whole, the development of tasks. Strategy developers need to define a hierarchy of goals and build a tree of goals, develop targets and criteria. Such an algorithm for the development of strategic indicators is carried out throughout the educational organization and for each substrategy of a different level.
The target set of criteria for each indicator of education is a set of planned quantitative values of the parameters over a certain period of time. Justification of the chosen goals, indicators and target criteria can stimulate management to improve organizational performance.
Goal indicators - these are achievement metrics that reflect progress towards a strategic goal. Since a strategy is a general, non-detailed plan of some activity covering a long period of time, a way to achieve a complex goal, the indicators of the strategy imply certain actions necessary to achieve the goal and indicate how the strategy will be implemented at the operational level. Consider indicators different stages of strategy development (table 5.1).
Table 5.1
Strategy Development Stage Indicators_
|
Indicators |
Stages of the strategy |
|
|
Global indicators |
Mission statement. The mission statement explains, in one or two sentences, the status the organization seeks to achieve, why it exists, and what end result it wants to achieve. The language in the mission statement is usually expressed using infinitive verbs (to increase, improve, etc.), the mission should identify any issues or conditions that will be changed. |
|
|
Indicators of the specifics of an educational organization |
Vision of the purpose of this educational organization throughout the strategic plan. The vision contains specific characteristics or functions that will determine the future state of the organization. Strategic vision is used |
|
Indicators |
Stages of the strategy |
|
|
to motivate staff, inspire them and contribute to the achievement of the strategy. |
||
|
Organization performance compared to evaluation criteria |
Gap Analysis |
The procedure evaluates the "gap" between the current status of the organization and the intended ideal state. The analysis determines what needs to be done to close the gap. |
|
Indicators of PEST analysis, trends in the development of the education industry |
Analysis of external |
Indicators allow you to develop a detailed analysis of data on the educational services market, use forecasts based on current trends to see future problems or opportunities. Gathering information to develop a strategic vision and define the overall strategic goals that will guide the action plan. |
|
Multivariate analysis indicators |
Analysis of internal |
The information collected by scanning the internal environment is of a general nature and provides an understanding of the processes taking place in the organization. |
|
Indicators strategies. |
Development of a strategy based on SWOT and SPACE analysis data |
The indicators are used as the basis for determining the strategy. The procedures allow to take into account the strengths and weaknesses of the organization and correlate them with the opportunities and threats of the external environment, determine the position of the organization in the market of educational services. |
|
Indicators of goals, resources and time priorities |
Program "Strategy of educational organization" |
Indicators are used to set goals for individual programs (substrategies), the strategy of the organization as a whole, allocate resources, determine the stages of implementation of the strategy and control measures. |
To global indicators include the general strategic goal of a professional educational organization, the mission or strategic concept, the desire for development and improvement, value orientations, resources. The mission reflects the sectoral orientation of educational services.
Strategic vision indicators reflect the specificity of a professional educational organization, its difference from others, the functional features of future pedagogical and organizational processes and the state of the organization in which it will be after a strategic period of time.
Organization performance compared to evaluation criteria reflect the data of internal and external monitoring, those problems, the solution of which cannot be postponed. The difference between this stage of the strategy and the analysis of the internal environment is that such work is proactive in nature and is aimed at identifying shortcomings and fulfilling the instructions of the founder to eliminate them.
Indicators of the analysis of the external environment describe the state of the organization in relation to the market of educational services and those political, economic, technological and social factors that affect the educational organization. These indicators include general trends in education in Russia.
Indicators of multivariate analysis of the internal environment reflect the strengths and weaknesses of the educational organization. The process of identifying them is caused by the need to understand what resources are not involved, where the organization has succeeded and where it has failed.
Strategy indicators - it is the data necessary for the formation of long-term development. A large amount of work on conducting a SWOT and SPACE analysis will pay off with a clear understanding of what needs to be done, what actions to take. Only scientific forecasting of actions can substantiate a full-fledged strategy.
Indicators of goals, resources and time priorities - These are indicators of strategic planning. They answer the questions: what goals need to be achieved, what actions to take, what resources are available or promised for this, and within what time frame the envisaged actions need to be completed.
Among the main indicators of an educational organization, reflecting its organizational effectiveness, the following should be mentioned:
- 1 Accreditation and licensing indicators, that is, compliance with the type and type of educational organization of secondary vocational education, the degree of fulfillment of the state task and the achievement of admission control figures.
- 2 Education quality indicators.
- 3 Graduate employment rates.
Table 5.2 presents the form for studying indicators fulfillment of reception check digits, broken down by year.
Table 5.2
Admission rates, broken down by years _
Such an analysis will allow tracking the dynamics of admission by various indicators and different groups of applicants. Determine what has changed over the past 3-5 years in the field of admission of applicants, trace trends and see a clear picture of the demand for the offered specialties.
The quality of education - the most important indicator of success and the most important, backbone task and direction of the educational organization management system.
The quality of education is understood as a set of essential properties and characteristics of the results of education that can meet the needs of graduates, society, and employers.
The main indicator of the quality of work of a professional educational organization is employment of graduates and their subsequent professional orientation.
Setting strategy indicators is not a linear process. In order to map out which indicators are the most important, we need to consider their weight in terms of tracking those processes that are truly meaningful and transformative.
Consider the indicators of state accreditation of educational organizations of secondary vocational education, determined by Order of the Ministry of Education of the Russian Federation dated 06-04-98 No. 875 "On state accreditation and certification of educational organizations" and correlate them with those strategic goals that can be set in a professional educational organization (table 5.3 ).
Table 5.3
Indicators and strategic goals of an educational organization
|
Indicators |
Strategic Goals |
|
Indicator 1. The structure of personnel training in the main professional educational programs of secondary vocational education. |
Compliance of the personnel training structure with the type and type of educational organization. |
|
Indicator 2. Professional educational programs of an educational organization in the specialties of secondary vocational education. |
Compliance with the requirements of the Federal State Educational Standard in the learning process. |
|
Indicator 3. Quality of graduate training. |
High quality of graduate training, confirmed by employers. |
|
Indicator 4. Information and technical support of the educational process. |
Information and technical support is not lower than in previous years. |
|
Indicator 5. The composition of the teaching staff. |
Achieving the stability of the team, high qualification of teachers, attracting part-time workers from among working specialists in the field. |
|
Indicator 6. Educational-methodical, scientific-methodical and experimental work. |
High quality of educational, methodological and experimental work, confirmed by the conclusions of external experts. |
|
Indicator 7. Additional professional education implemented in educational institutions of secondary vocational education. |
Activation of activities to develop a system of additional education that meets the requirements of the educational services market. |
|
Indicator 8. Career guidance and selection of applicants. |
Various forms of career guidance work among students and applicants. |
|
Indicator 9. Demand for and employment of graduates. |
Full employment of graduates in the labor market in accordance with the specialty or profession received. |
The criteria and indicators of the organizational effectiveness of an educational organization include the following groups: productivity, quality, effectiveness, satisfaction, competitiveness (competitiveness), development (Figure 5.2).
Let us consider the performance indicators determined by scientific approaches to assessing the effectiveness of strategic management from the point of view of management researchers.
- 1 To ensure the effectiveness of strategic management, special attention is paid to innovation, quality, competitiveness, and the level of customer service.
- 2 The goal approach emphasizes the role of goal achievement as a measure of organizational performance. The success of achieving strategic goals and solving problems shows the success of the organization, that is, its effectiveness.
- 3 System approach. The emphasis is on the external environment of the organization and the balance between the elements of the management system: input, transformation and output. Management efficiency reflects the adaptation of the system under study to the conditions of the higher-level system of which it is a part (the industry as a whole).
- 4 The synergistic approach emphasizes the role of the effect of combining substrategies. The sub-strategies of the organization are consistent with each other, complement each other and are in harmony with respect to the time periods for which these sub-strategies are planned. The interconnection of substrategies gives multiplication of efforts during the implementation of the overall strategy.
- 5 Z.P. Rumyantseva identifies an approach to assessing and measuring management effectiveness in terms of basic organization models (mechanistic, human resource-oriented, systemic, balance of interests) /49/.
- 6 Organizational effectiveness approach. The methods used in the organization, processes, conditions for the functioning and achievement of the education quality system are assessed, the role of the organizational structure is emphasized, the decisive importance of the organizational culture and moral and psychological climate in achieving efficiency is revealed.
- 7 Objective approach. Measuring the effectiveness of the strategy as the result and essence of the subjective-objective process of the organization's function, which is expressed in the creation, formation, specialization (in various functional areas, for example, the material base), the application and development of the potential for setting and achieving strategic goals.
- 8 Violet approach. Low costs, good quality of educational services, wide diversification of specialties, a large list of additional education specialties are assessed and outlined.
Figure 5.2 - Criteria and indicators of organizational effectiveness
Strategic management is accompanied by the consistent formation of information, cultural, economic, legal systems, which is ultimately expressed in a new, more rational organizational efficiency professional educational organization.
Our study is based on the assumption that theory should introduce mandatory elements of the effectiveness of strategic decisions. The purpose of the proposed study is to consider a succession-positioned approach to the composition of strategic management in an educational organization, to define an extended concept organizational efficiency.
In order to achieve our goal, consider the concept validity and its implications for organizational research. Then we will show the advantages of a succession-positioned approach, both within the framework of scientific knowledge and from the point of view of strategic management. And, finally, we will offer some recommendations for evaluating the results of strategic management.
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