FORMATION OF METHODOLOGICAL APPROACH TO ECONOMIC EVALUATION OF CORPORATE STRATEGIES EFFICIENCY OF OIL AND GAS COMPANIES BASED ON BALANCE SCORE CARD
FSBEI HPE USPTU, Ufa, the Russian Federation
FSBEI HPE USPTU, Ufa, the Russian Federation
The article presents developed by the authors the algorithm of the economic evaluation of corporate strategies efficiency of oil and gas companies based on balance score card (BSC).
The approach suggested differs from traditional methodologies of the economic evaluation of corporate strategies efficiency by the following:
1) it takes into account oil and gas industry specific character;
2) it applies the whole range of criteria of research and methodology approaches, along which are: financial multipliers, efficiency ratio, integrating coefficient, methods of business valuation;
3) the economic evaluation of the efficiency of oil and gas companies corporate strategies is performed through the evaluation of their business-units activities.
By reviewing corporate strategies and annular reports of large oil companies model objectives for each segment of companies’ activities have been sistematised and due quantitative indicators were determined.
The methodology has been developed for selecting key performance criteria for business units to be included into the balance score card. For the purpose of the selection, the points system of quantitative indicators in accordance with BSC aspects is suggested, in the course of which the most significant efficiency parameters for business units of oil and gas companies are defined.
Thus, the mechanism of two-step key criteria selection makes available the comparability of business units’ activities performance criteria and the corporate strategy of the whole oil and gas company. The strategic map shows the interrelations of the stated corporate strategy of an oil and gas company with its business units’ goals.
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algorithm; approach; balance score card; business unit; comparability; corporate strategy; economic evaluation; goal; interrelation; key performance criteria; mechanism; oil and gas companies; operating component; points system; selection; strategic map; weight rating indicator; алгоритм; балльная оценка; взаимосвязь; выбор; ключевые показатели эффективности; корпоративная стратегия; коэффициент значимости; механизм; мониторинг; нефтегазовые компании; подход; производственная составляющая; сбалансированная система показателей; сегмент; сопоставимость; стратегическая карта; структурное подразделение; цель; экономическая оценка DOI 10.17122/ogbus-2015-3-543-575 References to this article (GOST) Ilyas A.A., Tasmukhanova A.E. FORMATION OF METHODOLOGICAL APPROACH TO ECONOMIC EVALUATION OF CORPORATE STRATEGIES EFFICIENCY OF OIL AND GAS COMPANIES BASED ON BALANCE SCORE CARD // Electronic scientific journal "Oil and Gas Business". 2015. №3. P.543-575. URL: http://ogbus.ru/issues/3_2015/ogbus_3_2015_p543-575_IlyasAA_ru_en.pdf