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1、外文文献翻译译文一、外文原文Corporate Performance ManagementAbstractTwo of the most important duties of a chief executive officer are (1) to formulate strategy and (2) to manage his companys performance. In this article we examine the second of these tasks and discuss how corporate performance should be modeled a
2、nd managed. We begin by considering the environment in which a company operates, which includes, besides outside stakeholders, the industry it belongs and the market it supplies, and then proceed to explain how the functioning of a company can be understood by an examination of its business, operati
3、onal and performance management models. Next we describe the structure recommended by the authors for a corporate planning, control and evaluation system, the most important part of a corporate performance management system. The core component of the planning system is the corporate performance eval
4、uation model, the structure of which is mapped into the planning systems database, simulation models and budgeting tools structures, and also used to shape information contained in the systems products, besides being the nucleus of the language used by the systems agents to talk about corporate perf
5、ormance. The ontology of planning, the guiding principles of corporate planning and the history of ”MADE”, the corporate performance management system discussed in this article, are reviewed next, before we proceed to discuss in detail the structural components of the corporate planning and control
6、system introduced before. We conclude the article by listing the main steps which should be followed when implementing a performance planning, control and evaluation system for a company.1. IntroductionTwo of the most important corporate tasks for which a chief executive officer is primarily respons
7、ible are (1) to formulate strategy and (2) to manage the companys performance. In this article we examine the second of these tasks and discuss how corporate performance should be modeled and managed. To perform is to accomplish, to achieve (desired) results or outcomes. So, when talking about corpo
8、rate performance, we are referring to the degree by which desired results or outcomes are achieved by a company. Managing corporate performance involves planning, controlling, analyzing and evaluating, not only the results achieved by the company, but also the means by which these results are reache
9、d. Among the results, or goals, pursued by most companies we can mention growth, market share, profitability and value creation; and the means to achieve these results include productivity, effectiveness, innovation and competitiveness. Those are the type of things we should have in mind when specif
10、ying a corporate performance management system. Before discussing how to model corporate performance, it is convenient to consider the environment in which a company operates, which includes, besides outside stakeholders, the industry it belongs and the market it supplies. The main aspects of an ind
11、ustry to be looked at when considering its influence on corporate performance are structure and regulation, the main competitors, entry barriers, substitute products and suppliers negotiating power. Associated questions are: How production is organized, vertically or horizontally? How much competiti
12、ve is the industry and who are the main competitors, those that capture the largest part of the market share? Is it unregulated, self-regulated or regulated by a government agency? How strong are barriers to the entry of new competitors? Can products from other industries function as substitutes for
13、 the ones produced in the industry? What about the power industry suppliers have when negotiating prices and trade conditions?At the opposite side of the industry in the corporate environment we have the market where the company trades its products, its main attributes being size, growth rate, segme
14、ntation, exit barriers and consumers negotiating power. Typical questions that should be asked when assessing its effect on corporate performance are: What is the market size, in dollars, for each of the companys products? What are the short-term and long-term market growth rates? Is it a wholesale
15、or a retail market? Are the sales cyclical? How can the market be segmented (by geography, purchasingpower, customer age, etc.)? Which barriers does a client run into when changing suppliers? Do clients have the power to impose prices and trade conditions?We call the people who have interest in or a
16、re affected by a companys performance its “stakeholders”, and group them in the categories of “insiders” and “outsiders”. The insiders are the companys entrepreneurs or controlling shareholders and its managers and employees. The outsiders include customers, suppliers, minority shareholders, debt holders, the government in its roles of public goods supplier, regulator and tax collector, and also the communities where the company does business. It is important to
