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Performance of Multinational Company Masaryk University Faculty of Economics and Administration Field of study: Business Management PERFORMANCE OF MULTINATIONAL COMPANY Diploma thesis Thesis Supervisor: Author: Ing. Bc. Sylva ŽAKOVA TALPOVA, Ph.D Lilia TUGULEA Brno, 2016 Masaryk University Faculty of Economics and Administration Department of Corporate Economy Academic year 2015/2016 ASSIGNMENT OF DIPLOMA THESIS For: TUGULEA, Lilia Field: Business management Title: Performance of Multinational Company P r i n c i p l e s o f t h e s i s w r i t i n g: Objective of the thesis: The aim of the thesis is to thesis is to develop and analyze the balance scorecard in a subsidiary in order to measure performance. Approach and methods used: 1. Literature review of relevant concepts for the purpose of the thesis 2. Practical part with the analysis and the steps for developing the framework 3. Discussions and conclusions. Methods: Analysis, deductive and exploratory. The extent of graphical works: according to the supervisor's guidelines The thesis length without appendices: 60 – 80 pages ii List of specialist literature: DERESKY, Helen. International management: managing across borders and cultures: text and cases. 8thed., Pearson Education Limited, 2014. 480 p., ISBN: 9780273787051. KAPLAN, Robert and NORTON, David. The balanced scorecard: translating strategy into action. Boston: Harvard Business School Press, 1996, 322 p., ISBN: 0875846513. NIVEN, Paul. Balanced Scorecard step-by-step: maximizing performance and maintaining results.2nd ed., John Wiley & Sons, Inc., 2006. 317 p., ISBN: 9780471780496. Diploma thesis supervisor: Ing. Bc. Sylva Žáková Talpová, Ph.D. Date of diploma thesis assignment: ... Submission deadline for Diploma thesis and its entry in the IS MU is provided in the valid Time schedule of the academic year. …………………………………… ………………………………………… Department Head Dean In Brno on 13.05.2016 iii Abstract The thesis investigates the balanced scorecard approach as a way of measuring subsidiary performance. The framework was envisioned as being a suitable change from the historically emphasized financial measures. The fundamental objective of the study is to describe how to develop and implement the balanced scorecard framework. The thesis consists of two main parts. First part reviews and summarizes the theory related to multinational companies, performance, and balanced scorecard approach. The second part develops a proposal for balanced scorecard implementation. A single case study was conducted. A wholly owned subsidiary of a multinational company was targeted and considered relevant for the purpose. The data was gathered through conducting semi-structured interviews, consulting internal documents and personal observations. We strongly believe that, if to put aside the complexity of the method, implementing it will result in a holistic overview of the subsidiary performance. However, we want to mention that since the approach has not been actually enforced, our work is limited to provide a proposal. The project could however be envisioned as a first step in applying the framework at a corporate level. Keywords: multinational, subsidiary, performance, balanced scorecard, Orange Moldova iv Statement I hereby declare that the master thesis Performance of Multinational Company is entirely my work under the supervision of Ing. Bc. Sylva Žáková Talpová, Ph.D., and that I stated in it all the literal resources and other scientific resources in accordance with legal regulations, internal regulations of Masaryk University and internal acts of management of Masaryk University and Faculty of Economics and Administration. In Brno, ............................. Lilia Tugulea v Acknowledgements I would like to express my gratitude to the people who supported and encouraged me during the writing the thesis. A special thank you for my supervisor, Sylva Žáková Talpová,, for guiding me towards the goal and for supporting me with her knowledge and advice throughout the entire process. Also, I would like to thank Orange Moldova employees for finding the time and providing valuable insights about the company. Finally, I am grateful to my friends and family for not abandoning me after having the thesis as the only topic of discussion for the last six months. Sorina, Vera, Aurelia, Svetlana, Corina, I love you all! vi Intentionally left blank vii TABLE OF CONTENTS 1. Introduction ............................................................................................................................. 3 1.1 Background ................................................................................................................................... 3 1.2 Research topic ............................................................................................................................... 3 1.3 Purpose .......................................................................................................................................... 4 1.4 Limitations .................................................................................................................................... 4 1.5 Disposition and clarifications........................................................................................................ 4 LITERATURE REVIEW ............................................................................................................... 6 2. Multinational companies (MNCs) ........................................................................................... 6 2.1 MNC definition ............................................................................................................................. 6 2.2 Entry choices for MNCs ............................................................................................................... 7 2.2.1 Non-equity ............................................................................................................................ 8 2.2.2 Equity .................................................................................................................................. 10 2.2.3 Other ................................................................................................................................... 12 2.3 Organizational structures ............................................................................................................ 12 2.3.1 First steps ............................................................................................................................ 13 2.3.2 Global Arrangements .......................................................................................................... 14 2.3.3 Emerging Structures ............................................................................................................ 16 2.4 Subsidiaries and MNC relationships ........................................................................................... 17 2.4.1 Roles and strategy ............................................................................................................... 17 2.4.2 Autonomy vs control ........................................................................................................... 18 2.4.3 Environmental features ....................................................................................................... 19 3. Performance ........................................................................................................................... 20 3.1 Definition and importance .......................................................................................................... 20 3.2 Process and difficulties ............................................................................................................... 23 3.3 Current approaches and Balanced Scorecard (BSC) ................................................................... 25 3.3.1 BSC origins and evolution .................................................................................................. 26 3.3.2 The strategy map ................................................................................................................. 26 3.3.3 The four perspectives .......................................................................................................... 27 3.3.4 Construction and implementation ....................................................................................... 29 3.3.5 Criticism .............................................................................................................................. 31 3.4 Performance of subsidiaries ........................................................................................................ 31 1 4. Methodology .......................................................................................................................... 35 4.1 Research purpose and approach .................................................................................................. 35 4.2 Research strategy ........................................................................................................................ 35 4.3 Data collection and analysis ........................................................................................................ 35 4.4 The interview and interviewees .................................................................................................. 36 4.5 Research quality .......................................................................................................................... 37 4.6
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