APPLICATION OF METHODS FOR FINANCIAL PERFORMANCE MANAGEMENT IN THE CZECH REPUBLIC

The paper deals with the application of methods for financial performance management in enterprises, used for analyses of business entities in the territory of the Czech Republic. Financial performance is one of the key indicators for the determination of competitive position as well as attractiveness for investors. Therefore it is necessary to assess the company performance not only from the quantitative point of view, but also with regard to quality. The common financial performance measurement based on the results from past is no longer adequate and must be completed by non-financial indicators as well. The question is how to measure the company performance and what methods should be used. Economists from all over the world have been dealing with this issue permanently. There are multiple approaches and methodologies for performance measurement, both from the financial and non-financial point of view. The paper further contains analysis and presentation of results of the questionnaire survey realized with the selected business entities in the Czech Republic in March 2014. The aim of the questionnaire survey was to find out what methods are used in companies operating in the Czech Republic. The research team received back 114 questionnaires completed but for the further process it was possible to use only 110 of them. The questionnaire consisted of 3 main parts (general information about the company, evidence of environmental costs and area of the financial management - performance measurement systems) with the total amount of 38 questions.