Formation of competitive development strategy key performance indicators’ system for consulting companies
-
DOIhttp://dx.doi.org/10.21511/dm.18(1).2020.05
-
Article InfoVolume 18 2020, Issue #1, pp. 53-60
- Cited by
- 518 Views
-
126 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The information on the main stages of key performance indicators selection and formation for the process of estimating the competitive development strategy effectiveness of consulting companies is analyzed, the types of indicators, their differences are examined, the existing views and recommendations of researchers and experts on the expediency of using certain indicators directly by consulting companies are generalized. Various areas of consulting are described and it is suggested to take into account the specifics of the consulting business when selecting relevant performance indicators of their competitive strategies. Comprehensive and relentless globalization has made the protection of company’s intellectual capital one of the key factors in the success of enterprise development. As the main asset of any consulting company are people and their intellectual potential, competition in this area has become quite strong and fierce. Since the main asset of the consulting company is people and their intellectual potential, the competition in this field is very strong and fierce. Thus, the predominance of intellectual work requires specific accounting for the assets of consulting companies and an assessment of the efficiency of use of these assets in accordance with the developed strategy. Given the fact that, by their content, performance indicators should assist managers and business owners in making decisions about evaluating the effectiveness of their chosen process or the performance of a particular system in the enterprise, evaluating the effectiveness of business development as a whole, the possibility of using a certain range of indicators to evaluate consulting company’s strategies effectiveness was considered. In particular, the results of the analysis of the main goals and objectives set in the development of a competitive consulting company’s development strategy suggested the use of groups of indicators (both financial and non-financial) to evaluate the effectiveness of the enterprise competitive strategy, enterprise development strategy or directly to evaluate the competitive development strategy of consulting companies. In addition, the emphasis is placed on determining the optimal number of indicators of the consulting company’s development strategy and analysis of data of different size and geography of business of consulting companies.
- Keywords
-
JEL Classification (Paper profile tab)L10, L11, M10, M11, M31
-
References18
-
Tables2
-
Figures1
-
- Figure 1. Групи показників ефективності конкурентної стратегії розвитку
-
- Table 1. Перелік показників для визначення ефективності консалтингових компаній
- Table 2. Додаткові характеристики показників ефективності консалтингових компаній
-
- Beljtjukov, Je., & Nekrasova, L. (2014). The competitive strategy of the company: the nature and form-based assessment of the level of competitiveness. Economics: time realities, 2, 6-13. (In Ukrainian).
- Dovghanj, L., Malyk, I., Semenchenko, N., & Krejdych, I. (2017). Navchalnyi posibnyk do vyvchennia dystsypliny «Upravlinskyi konsaltynh» [Textbook for studying the discipline «Management Consulting»] (201 p.). Kyiv: NTUU «KPI». (In Ukrainian).
- Dykan, V. (2013). Stratehichne upravlinnia [Strategic management] (272 p.). Kyiv: Tsentr uchbovoi literatury. (In Ukrainian).
- Ernst and Young (2019). Global Review 2019.
- Fedulova, L., Sokyrnyk, I., Stadnyk, V. etc. (2004). Menedzhment orhanizatsii [Management of organizations] (448 p.). Kyiv: Lybid. (In Ukrainian).
- Ibatova, A., Kuzmenko, V., & Klychova, G. (2018). Key performance indicators of management consulting. Management Science Letters, 8, 475-482.
- KPMG (2019). 2019 Transparency report.
- Lamben, Zh. (1996). Strategicheskiy marketing. Yevropeyskaya perspektiva [Strategic marketing. European perspective] (589 p.). Sankt-Peterburg: Nauka. (In Russian).
- Legislation.gov.uk (2006). Companies Act 2006 (section 417).
- Markgraf, B. (n.d.). Key Performance Indicators of the Management Consulting Industry.
- McKinsey & Company (2018). Social Responsibility Report 2018.
- Nickols, F. (2016). Three Forms of Strategy: General, Corporate & Competitive (9 p.).
- Poliukhovych, M. (2019). Competitive Enterprise Development Strategy as a Modern Effective Management Tool. Modern Economics, 18, 138-144.
- Ponomarenko, V., Pushkar, O., & Trydid, O. (2002). Stratehichne upravlinnia rozvytkom pidpryiemstva [Strategic management of enterprise development] (640 p.). Kharkiv: KhDEU. (In Ukrainian).
- Porter, E. (2001). Konkurentsiya [Competition]. Moscow: Viljams. (In Russian).
- Tselyutina, T. (2014). Kriterii effektivnosti Rossiyskogo konsaltinga [Efficiency criteria of Russian consulting]. Nauchnyy aspekt - Scientific aspect, 1-2, 151-153. (In Russian).
- Voronkova, V. (2008). Marketynh sotsialnykh posluh [Marketing of social services] (239 p.). Kyiv: Profesional. (In Ukrainian).
- 1Yudanov, A. (2001). Konkurentsyya: teoryya y praktyka [Competition: theory and practice] (304 p.). Moskva: Gnom i D. (In Russian).