THE EFFECT OF HARD AND SOFT FACTORS ON THE SUCCESS OF A COMPANY
Journal Title: Problems of Management in the 21st Century - Year 2015, Vol 10, Issue 1
Abstract
What makes a company successful? What kind of instruments may it use to achieve outstanding results? Instruments necessary for effective operation depend remarkably on the current age and the environment surrounding the organisation. Various ages have had their different keys to success. This key has become more and more complex and complicated due to the continuous acceleration of world economy and the fact that distances have become negligible. The aim of this study is to explore, whether companies having an interest in the processing industry use hard or soft success factors as a key to achieve success. In order to do that, the research will identify the possible success factors frst. Henceforward it will reveal the effect of the resulting factors on success by logistic regression, which will be examined via the balance scorecard by complementing the four classic aspects – as one of the pioneers – with a ffth one, i.e. sustainability. Thus it will become visible, to what extent strategic, structural, cultural and leadership success factors influence the performance of a company to reach excellence in accordance with the expectations of the owners, the customers, the employees and the social sphere. The results of the research will thereby show the unravelled correlations between the successful operation of a company and the instruments indicating hard and soft success affecting it.
Authors and Affiliations
Peter Bóna, Robert Lippert
Keywords
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