Methodological Tools for Assessing the Efficiency of Business Processes within the Organisational Component of the Corporate Governance Mechanism

Анотація

Introduction. Interest in developing various mechanisms of corporate governance has intensified in recent years, as scholars increasingly emphasise the importance of organised, methodological and systematic management that must comply with established regularities, operate within defined boundaries and align with recognised principles and standards. As a result, diverse approaches to forming organisational, economic and other mechanisms have emerged in academic discourse. The authors propose examining the organisational-stabilisation mechanism of corporate governance through the lens of business process optimisation. This study presents a set of methodological approaches for evaluating individual elements of this mechanism within its organisational component. Purpose. The purpose of the article is to improve theoretical and methodological approaches to the comprehensive assessment of the efficiency of individual elements of the organisational component of the organisational-stabilisation mechanism of corporate governance based on business process optimisation. Methodology. The theoretical and methodological foundation of the study is the Balanced Scorecard (BSC) framework, in particular the EP2M (Effective Progress and Performance Measurement) model developed by C. Adams and P. Roberts. Drawing on the advantages of this model and considering key aspects of corporate governance, the authors propose an original methodological approach to assessing the efficiency of corporate business processes using a balanced system of indicators. The EP2M model structure is taken as the conceptual basis for this assessment. Results. Within the improved model, the following enhancements are proposed: the Directives block should incorporate the criterion Corporate Culture and Corporate Social Responsibility (CSR), which reflects the quality of goal-setting and strategy development with regard to these dimensions; the Execution block should include the criterion Effective Corporate Governance, accounting for the influence of governance practices on the implementation of corporate goals and objectives; the Results block should incorporate the criterion Corporate Outcomes to capture the direct contribution of corporate governance to overall organisational performance. The model was tested using data from Ukrainian Mining and Processing Plants (GZK). The study identifies opportunities for applying the model to evaluate other elements of the organisational component of the organisational-stabilisation mechanism of corporate governance, with adapted EP2M-based models developed accordingly.

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