What Do Companies in the Processing Industry do in Order to Achieve Success?
Peter Bona and
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Peter Bona: University of Pannonia, Hungary
Robert Lippert: University of Pannonia, Hungary
Expert Journal of Business and Management, 2015, vol. 3, issue 1, 53-61
Borders of countries and continents have become more and more blurred by now, while distances have turned out to be less important. Markets of continents or countries are not separated anymore therefore competition between companies has gotten fiercer and much faster than earlier. What kind of instruments may companies in the processing industry use to maintain their existence and to remain competitive in the fragile system following the economic crisis in 2008? This research aims at finding out how the effects of components belonging to the concept of strategic management system influence outstanding achievement and success. It primarily analyses, in what ways instruments considered being the most determinative, i.e. strategic a structural success factors affect the processing industry. In order to do that the research defines the factors having an influence. Thereafter it explains successful operation of companies with factors emerging via the use of regression models. It uses the balance scorecard as a tool for success criteria describing success. The research tackles the issue of sustainability with a high priority in this system as a success component: the fifth perspective among the other four classic ones. Thus the results of the research will show how strategic and structural success factors can make a company successful and the satisfaction of which groups of interest they affect the most.
Keywords: success; balanced scorecard; success factors; strategy; structure (search for similar items in EconPapers)
JEL-codes: M10 M12 M14 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:exp:bsness:v:3:y:2015:i:1:p:53-61
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