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PRINCIPLES UTILIZATION OPTIONS OF VALUE BASED MANAGEMENT TO CREATION OF REMUNERATION SYSTEMS
Jakubcová, Marie ; Režňáková, Mária (advisor)
The dissertation thesis is focused on value based systems of remuneration. Importance and mission of remuneration systems at company management leading to increase in value for owners, respectively for stakeholders is investigated here. The dissertation thesis deals with the factors influencing both, employees, their performance and motivation for company´s aims achievement, and companies´ systems of remuneration. The subject of dissertation thesis is actually concurrent because employees´ performance increasing in a form of stimulation bonuses, an effort for possessing employees in the company, and dividing company´s profit for employees at the same time are very demanding managerial tasks in every stage of company´s development. At the dissertation thesis elaboration, the author has stemmed from theoretical backgrounds of scientific publications of Czech authors as well as of foreign authors, and also from realized investigations. Primary research has been realized by a combination of single techniques of quantitative research, i.e. by the means of questionnaires, personal interviews and telephonic interviews. Results of the primary research obtained have been analysed using the applications of Microsoft Excel, Portable Open Office Calc and XLStatistics software. Results obtained at elaboration of the dissertation thesis have been used with the aim to determinations of the most important factors influencing employees´ motivation for performance increasing and interestedness on company´s goals achievement. Moreover, the results obtained by primary research outcomes analysis have made possible the statistic verification of the hypotheses of dissertation. The partial outcome of dissertation thesis is the definition of premises of value oriented systems of remuneration use in small and medium-sized entities. Based on this definition of these systems implementation premises, the methodical order of implementation of value oriented system of remuneration into company´s practice. For elaboration of the value oriented system of remuneration proposal, first of all, it has been necessary to create the system of EVA quantification in a company, i.e. to divide company´s assets into responsibility centres, to calculate EVA of every single responsibility centre, and to propose a concept of employees´ interest on change of the EVA indicator value. The proposed methodology has been proved in condition of concrete company, and in the dissertation thesis, it is presented as a case study. This way, one can get complete information about characteristics of the presented model, in concrete about necessary adjustments of costs and revenues, about determination of the amount of invested capital and its valuation, and about division of created value for employees and owners as well. Elaborated case study provides a feedback on a possibility and demandingness of implementation of value based systems of remuneration in small and medium-sized entities. The conclusion of dissertation thesis is devoted to the summary of knowledge obtained, to the discussion of premises for the proposed methodology implementation into business practice, and to the discussion about possibilities of next scientific work in elaborated area.
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PRINCIPLES UTILIZATION OPTIONS OF VALUE BASED MANAGEMENT TO CREATION OF REMUNERATION SYSTEMS
Jakubcová, Marie ; Režňáková, Mária (advisor)
The dissertation thesis is focused on value based systems of remuneration. Importance and mission of remuneration systems at company management leading to increase in value for owners, respectively for stakeholders is investigated here. The dissertation thesis deals with the factors influencing both, employees, their performance and motivation for company´s aims achievement, and companies´ systems of remuneration. The subject of dissertation thesis is actually concurrent because employees´ performance increasing in a form of stimulation bonuses, an effort for possessing employees in the company, and dividing company´s profit for employees at the same time are very demanding managerial tasks in every stage of company´s development. At the dissertation thesis elaboration, the author has stemmed from theoretical backgrounds of scientific publications of Czech authors as well as of foreign authors, and also from realized investigations. Primary research has been realized by a combination of single techniques of quantitative research, i.e. by the means of questionnaires, personal interviews and telephonic interviews. Results of the primary research obtained have been analysed using the applications of Microsoft Excel, Portable Open Office Calc and XLStatistics software. Results obtained at elaboration of the dissertation thesis have been used with the aim to determinations of the most important factors influencing employees´ motivation for performance increasing and interestedness on company´s goals achievement. Moreover, the results obtained by primary research outcomes analysis have made possible the statistic verification of the hypotheses of dissertation. The partial outcome of dissertation thesis is the definition of premises of value oriented systems of remuneration use in small and medium-sized entities. Based on this definition of these systems implementation premises, the methodical order of implementation of value oriented system of remuneration into company´s practice. For elaboration of the value oriented system of remuneration proposal, first of all, it has been necessary to create the system of EVA quantification in a company, i.e. to divide company´s assets into responsibility centres, to calculate EVA of every single responsibility centre, and to propose a concept of employees´ interest on change of the EVA indicator value. The proposed methodology has been proved in condition of concrete company, and in the dissertation thesis, it is presented as a case study. This way, one can get complete information about characteristics of the presented model, in concrete about necessary adjustments of costs and revenues, about determination of the amount of invested capital and its valuation, and about division of created value for employees and owners as well. Elaborated case study provides a feedback on a possibility and demandingness of implementation of value based systems of remuneration in small and medium-sized entities. The conclusion of dissertation thesis is devoted to the summary of knowledge obtained, to the discussion of premises for the proposed methodology implementation into business practice, and to the discussion about possibilities of next scientific work in elaborated area.
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