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Formation of a Balance-Based Complex of Indicators in the Food Procurement Management System

Author

Listed:
  • Kniaz, S.

    (Lviv Polytechnic National University, Ukraine)

  • Skrynkovskyy, R.

    (Lviv University of Business and Law, Ukraine)

  • Protsiuk, T.

    (Academy of Financial Monitoring, Ukraine)

  • Matsuk, V.

    (Lviv Polytechnic National University, Ukraine)

Abstract

Entrepreneurship in the food market is usually conducted in a competitive environment. The competitive environment is characterized by business risks, the source of which is a competitive struggle for the consumer. Consequently, competing enterprises are constantly searching for opportunities for lowering prices, improving the quality of goods offered for the market and diversifying the product range. This implies a change in the conditions of the internal and external environment, as well as the permanent need to identify the need for adoption of corrective, and sometimes, anti-crisis decisions. The identification of the need for regulatory decisions is based on the results of monitoring the factors that affect the various components of the management system of the enterprise. For food companies, in addition to economic efficiency, a key component that needs monitoring and regulating the quality and safety of food products, including their manufacture, storage, transport and sale. Given this, it is important to deepen the theoretical and applied provisions for the formation of a balanced set of indicators that would characterize both the economic efficiency of food businesses and the quality and safety of the products they offer on the market. The construction of such a set of indicators requires clarification of the list and disclosure of the essence of the principles of economic efficiency, the principles of implementing a system for managing the safety and quality of food products, as well as the principles of the formation of the actual set of indicators. An important aspect of forming a balanced set of indicators in the food business management system is also the allocation of components of the logical-structural scheme of this process, establishing links that indicate that there are key factors in the formation of common conclusions based on the results of the integrated assessment of the activities of business entities on the food market.

Suggested Citation

  • Kniaz, S. & Skrynkovskyy, R. & Protsiuk, T. & Matsuk, V., 2019. "Formation of a Balance-Based Complex of Indicators in the Food Procurement Management System," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 8(3), pages 159-171, September.
    • Handle: RePEc:ods:journl:v:8:y:2019:i:3:p:159-171
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    References listed on IDEAS

    as
    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Anatoliy G. Goncharuk, 2015. "Food Business and Food Security Challenges in Research," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 4(4), pages 223-230, November.
    3. Thomas E. Lambert, 2018. "Does Innovation Chase Profits, or Do Profits Chase Innovation?," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 7(3), pages 141-146, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economic efficiency; quality; safety; food enterprise; indicators;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

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