24 Claudiu Marian Gruian

Analele Universit ii Constantin Brncu i din Trgu Jiu, Seria Economie, Nr.
4/2010
CE NELEGEM PRIN PERFORMANA COMPANIEI? CLAUDIU MARIAN PhD GRUIAN, University of Timioara student, West
Rezumat: n articolul de fa am analizat abordrile existente n literatura tiinific de specialitate romneasc i strin referitore la conceptul de performan a companiei. Am demonstrat c acesta este foarte des folosit dar rar definit i nu ndeajuns neles, fiind de regul ntrebuinat ca atare, fr explicaii i lmuriri suplimentare. n urma analizrii opiniilo r existente am clarificat n mare msur semnifica ia performanei la nivel microeconomic, precum i a altor concepte nrudite: productivitate, eficien, eficacitate, rentabilitate i profitabilitate, identificnd legturile dintre ele. Am pledat pentru o nelegere unitar, comun a acestor concepte precum i a tuturor conceptelor folosite n economie, pentru a da mai mult precizie i rigu rozitatea tiinei economice i a evita orice ambiguiti. n cazul unora dintre ele este totu i dificil unificarea diferitelor contribuii deoarece acestea sunt n unele cazuri contradictorii, existnd n continuare posibilitatea ca autorii din domeniu s folo seasc abordri diferite. Articolul de fa este valoros i original deoarece contureaz i propune o viziune unitar i integrant asupra opiniilor referitoare la performana companiei.
WHAT DO WE MEAN BY COMPANY PERFORMANCE? CLAUDIU MARIAN , PhD GRUIAN student, West University of Timioara
Abstract: This article examines existing approaches in the Romanian and foreign academic literature concerning the concept of company performance. It demonstrates that this concept is used very often but rarely defined and not sufficiently understood. Most studies go to performance measurement and improvement without further theoretic explanation and clarification. After analyzing the existing opinions the a rticle mostly clarifies the significance of microeconomic performance, and other related concepts: productivity, efficiency, effectiveness, profitab ility and identifies the links between them. It recommends a common understanding of these concepts and all other concepts used in economics to give more precision and rigor to field science and avoid any ambiguity. For some terms it is yet difficult to unify the various contributions of authors because sometimes these are contradictory. Thus some authors may still use different approaches. Key words: Company performance, productivity, efficiency, effectiveness, profitability
1. Introduction Cuvinte cheie: Performan a companiei, productivitate, Performance is important in any eficien, eficacitate, rentabilitate activity, especially in the economic field. We all want to be performers. In some 1. Introducere areas of activity performance can easily be Performana este important n orice defined, for example in sports (scores, activitate, i cu att mai mult n domeniul economic. Toi ne dorim s fim performani. n times, centimeters, etc.), but in microeconomics this issue is more unele domenii performana se poate defini complex; on the one hand because there foarte uor, spre exemplu n sport (scor, timpi, are many factors that influence centimetri, etc.), dar n domeniul performance; on the other hand because microeconomic problema este mai complex. Pe de o parte pentru c exist o multitudine de the economic actors have different points of view about company performance factori care influeneaz performana. Pe de depending on their interests. Thus, alt parte pentru c diferiii actori economici managers are interested in the overall vd performana n funcie de interesele lor. performance, investors (actual and Astfel, managerii sunt interesai de performana global a companiei , investitorii potential) will consider performance in (actuali si poteniali) vor percepe performana terms of return on investment, employees prin prisma rentabilitii investiiei, salariaii i and customers will show interest in the clienii vor manifesta interes fa de stabilitatea stability of the company and creditors will
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Analele Universit ii Constantin Brncu i din Trgu Jiu, Seria Economie, Nr. 4/2010
ntreprinderii iar creditorii au n vedere solvabilitatea i lichiditatea (tefnescu, 2005). Conceptul de performan a companiei este des ntrebuinat n literatur, dar este ns rar definit. Se trece de multe ori la msurarea performanei, fr a se prezenta ntr-un mod clar ce anume se msoar. De asemenea se vorbete despre diferite faete ale performanei (tehnic, operaional, economic, financiar, social, .a.) fr a fi clar precizat sfera de cuprindere a acestora, cum anume se contopesc dnd natere performanei globale sau care sunt legturile dintre ele. O alt problem este cea a confuziilor care se fac datorit numrului mare de noiuni ntrebuinate n definirea perfor manei: productivitate, eficien, eficacitate, economicitate, rentabilitate, profitabilitate, competitivitate, .a. O delimitare clar a coninutului fiecreia dintre aceste noiuni este necesar pentru a mbunti cadrul gramatical i a asigura o nelegere comun a acestor categorii n cadrul tiinei economice. n ncercarea noastr de a nltura aceste nenelegeri vom porni de la diferite definiii ale conceptul de performan.
consider solvency and liquidity [8]. The concept of company performance is often used within literature, but rarely defined. Many studies present performance measurement and improvement methods without a clear explanation of what is being measured or improved. Other authors analyze different facets of performance (technical, operational, economic, financial, social, etc.) without clearly indicating their coverage or how they are integrated within overall performance. Another issue in performance conceptualization is the confusion that exists between the many terms used in defining it: productivity, efficiency, effectiveness, profitability, competitiveness, etc. A clear delineation of the contents for each concept is necessary to improve field grammar and ensure a common understanding of these categories within economics. In the attempt to remove these misunderstandings the analysis should start with existing approaches on the performance concept.
2. Analiza literaturii de specialitate Realiznd o scurt cutare n literatura microeconomic folosind cuvntul cheie performan vom gsi o multitudine de articole i studii care msoar performana companiei sau evalueaz impactul anumitor factori asupra ei dar sunt foarte puine studii n care performana este conceptualizat (Tangen, 2005, 34). n continuare vom prezenta opiniile unor autori romni i strini n legtur cu acest concept.
2. Literature review If we do a quick search in the economic literature, by using the keyword company performance we will find a multitude of articles and studies that measure company performance or evaluate the impact of certain factors on performance but we will find few articles about performance conceptualization [10]. In this paper different performance approaches of Romanian and foreign authors will be presented. Usually the 2.1. Demers n teoria performan ei contributions of different authors are companiei complementary but we have found that in n Dicionarul Explicativ al Limbii some cases they can be contradictory. Romne performana este definit ca fiind o 2.1. Company performance approach realizare deosebit ntr-un domeniu The Explanatory Dictionary of de activitate (DEX, 1998). Aceast definiie, dei Romanian Language defines performance are un caracter general scoate n eviden as a special achievement in a field of faptul c doar cei care au realizri deosebite activity [12]. This definition, although it fa de competitori sunt performani i prin has a general nature, highlights that only urmare nu poate exista dect un numr limitat subjects with better achievements than
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de companii performante. O abordare mai precis, la nivel microeconomic, caracterizeaz performana ca fiind o stare de competitivitate a entitii economice, atins printr-un nivel productivitate i eficacitate care-i asigur de o prezen durabil pe (Niculescu i pia Lavalette, 1999, 256). Introducem aici n analiza noastr concepte asupra crora vom reveni: productivitate i eficacitate. Cei doi autori echivaleaz deci termenul de performan cu cel de competitivitate, cel de-al doilea fiind mai des utilizat n ultima perioad. Performana poate fi considerat ca fiind un rezultat deosebit obinut n domeniul managementului, cel economic, comercial etc. ce implic eficiena, eficacitatea i competitivitatea companiilor i comportamentele lor procesuale i (Verboncu i Zalman, 2005, 63). Nu este deci structurale suficient pentru companie s fie performant ntr-o anumit direcie ci este necesar un rezultat bun n toate activitile deoarece fiecare dintre ele are influen asupra performanei globale. Evideniem aici deosebirea dintre noiunile de performan i rezultat. Astfel performana este o mrime relativ deoarece se determin prin comparaii cu alte mrimi (obiective, rezultatele obinute de concureni), n timp ce rezultatul apare ca o noiune absolut. Dup ali autori performana companiei arat capacitatea ei de a progresa graie eforturilor ( Albu i Albu, constante Noiunea de performan este 2005, 30). asociat unei ideologii de progres, de efort, de a face ntotdeauna mai bine. Aceast este o abordare dinamic legnd performana de aciune, de un anume comportament, i nu doar de un rezultat (viziune static). Noiunea de performan are un caracter abstract, iar definirea acesteia se face multe ori prin raportarea la alte de concepte: eficien, eficacitate i (Albu i Albu, valoare 2005, 31). La nivelul unei companii performana include abilitatea de a avea acces la resurse, de a le aloca i utiliza optim n scopul unei remunerri suficiente pentru a acoperi riscul asumat i a justifica interesul, pe traiectoria
their competitors are performers and therefore it can only exist a limited number of performing companies. A more precise definition, at microeconomic level, presents performance as a state of competitiveness characterizing economic entities, achieved through a level of productivity and efficiency that ensures a sustainable market presence [6, 256]. The authors consider that performance is equivalent with competitiveness. Two new terms are introduced at this moment in the analysis: productivity and efficiency. Performance may be considered as a special result obtained in management, economic, commercial and other corporate activities and involves business efficiency, effectiveness and competitiveness determined by procedural and structural behavior [11, 63]. It is not enough for the company to perform in a certain direction; it needs a good result in all activities because they all affect overall performance. It is also necessary to highlight the distinction between the concepts: performance and result. Performance is a relative value determined by comparison (with objectives, results achieved by competitors), but the result appears as an absolute concept. Other authors show that company performance is the ability to progress through constant efforts [1, 30]. The term is associated with an ideology of progress: the effort to always do better. This dynamic approach links performance to an action, a certain behavior, and not just a result (static view). Performance has an abstract character, and it is often defined by the use of other concepts: efficiency, effectiveness and value [1, 31]. At company level it includes the ability to access resources and to allocate them in an efficient manner so they can generate sufficient remuneration for justifying the risk assumed by investors. Brbulescu and Bgu teachers [3, 55] state that performance is the highest results level obtained. The same authors present a model of high performance
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unei dezvoltri viitoare durabile. Profesorii C Brbulescu i C. Bgu (2001, 55) afirm c performana este reprezentat de acel nivel al celor mai rezultate . Aceiai autori prezint i un bune obinute unei companii de nalt performan model al care are la baz urmtorii factori: - resursele necesare produciei (tehnice, energetice, materiale, umane, financiare); - procesele de munc efectuate n cadrul companiei; - latura organizatoric a ntreprinderii (structura organizatoric i cultura companiei); - beneficiarii afacerii (stakeholders). n concluzie se poate afirma c noiunea de performan la nivel microeconomic este strns legat de alte concepte cum sunt: productivitatea, eficiena eficacitate, economicitate i rentabilitate. Prin urmare este necesar studierea aprofundarea acestora. 2.2. Productivitatea: sursa iniial a performanei Productivitatea este de regul definit ca fiind raportul dintre intrrile i ie irile unui sistem economic. Dei este o variabil foarte important n luarea deciziilor precum i un factor determinant al performanei, conceptul de productivitate este folosit destul de rar n practic. n primul rnd ea este legat de resursele implicate n procesul productiv. Acestea trebuie s fie disponibile la momentul potrivit i n cantitile necesare, iar pentru a maximiza productivitatea activitii costurile de procurare a resurselor trebuie s fie ct mai reduse. n al doilea rnd rezultatele obinute n procesul de producie trebuie s fie maxime. Prin urmare activitile i resursele implicate trebuie s adauge valoare produsului final fabricat. nelegerea conceptului de productivitate ne este facilitat de un studiu (Tangen, 2005) care prezint n mod sintetic abordrile mai multor cercettori , dintre care le vom aminti pe cele mai relevante (Tabelul nr. Tabelul nr. 1. Exemple de definiii ale productivitii 1.)
companies that is based on the following factors: - Performance in supplying (technical, energy, material, human and financial); - Performance of processes carried out within the company; - Stabile organizational side of the enterprise (organizational structure and corporate culture); - Satisfied business beneficiaries (stakeholders). By synthesizing the approaches presented above it can be said that microeconomic performance is closely related to other concepts such as productivity, efficiency effectiveness, efficiency and profitability. Therefore these concepts will be closely analyzed within the following points. 2.2. Productivity: the basis of performance Productivity is generally defined as the rate between the outputs and inputs of an economic system. Although it is a very important variable in decision making and a determinant factor of performance, the productivity concept is rarely used in practice. First of all it is linked to the inputs used in the productive process. Resources must be available at the right moment and in the right quantities, and for increasing productivity their cost must be minimized. Second of all the results obtained in the production process must be maximized. Therefore consumed resources and activities must add value to the new product or service A recent study is very helpful in understanding the concept of productivity [10]. The author presents different approaches of the concept synthetically and chronologically. The most relevant ones will be presented in Table no. 1.
Table no. 1: Examples of productivity definitions
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Analiznd abordrile prezentate mai sus putem concluziona c majoritatea cercettorilor sunt de acord c productivitatea se definete comparnd efectele obinute cu eforturile depuse. Productivitatea poate fi apreciat n mod globa innd seama de toate resursele consumate pentru obinerea unui l produs, sau n mod paria , analizndu-se productivitatea unuia dinl factorii de producie utilizai (munc, capital, materiale, energie). Conform Oxford Dictionary of Economics (2002) productivitatea se exprim de regul prin numrul (sau valoarea) unitilor de ieire (output), raportat la o unitate de intrare (input). Pentru msurarea productivitii totale a procesului economic se va lua n calcul valoarea total a factorilor de producie consumai, respectiv valoarea total a produselor realizate. Dintre mrimile caracteristice productivitii pariale cea mai utilizat este productivitatea muncii . n literatura autohton conceptul de productivitate este arareori definit, fiind de obicei ntrebuinat ca atare, i neles ca raport ntre intrrile i ieirile unui proces economic. 2.3. Eficien a, eficacitatea i economicitatea activit ii n domeniul economic, referiri la eficien pot fi ntlnite nc de la economitii clasici, cum sunt Adam Smith sau Karl Marx. Conceptul de eficien a cunoscut o larg rspndire de-a lungul timpului. Potrivit
By synthesizing the presented approaches an opinion can be formed on this matter. The majority of researchers agree that productivity can be quantified by comparing the effects obtained in the activity with the efforts. If we analyze global productivity we will consider all the resources consumed for obtaining a product. If we want to analyze partial productivity we will only consider one kind of resource used (labor, capital, raw materials and energy). According to Oxford Dictionary of Economics [13] productivity can be generally quantified as the physical number (or value) of output units obtained by consuming one input unit. The most popular productivity measure, used in various fields of activity is labor productivity, indicator that is obtained by dividing total production (as number or value of products) to employee number. 2.3. Efficiency, effectiveness and economy The efficiency concept was used first in economic literature by classic authors like Adam Smith and Karl Marx. Nowadays it is popular in almost every field of activity. According to Oxford Dictionary of Economics [13] efficiency means obtaining expected results with minimum resource consumption or
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Oxford Dictionary of Economics (2002) eficiena nseamn a obine anumite rezultate prestabilite cu un consum minim de resurse sau a obine rezultatele maxime posibile cu o cantitate prestabilit de resurse. Conceptul de eficien este deci definit n dou moduri n funcie de premisele de la care se pleac n activitatea analizat. Prima variant este cea n care se stabilesc anumite rezultate de atins i cea de-a doua se ntlne te atunci cnd resursele disponibile sunt limitate i se dorete maximizarea rezultatelor obinute prin consumarea acestora. n practica microeconomic contemporan se ntlnete de regul prima situaie. Companiile i stabilesc (n funcie de diferite criterii) un anumit nivel al rezultatelor pe care doresc s le realizeze cu minimul de resurse consumate, aceast definiie fiind mai practic. Prezentm n Tabelul nr. 2. cteva puncte de vedere asupra eficienei i eficacitii din literatura strin de specialitate pe care leam considerat mai relevante (Tangen, 2005, 42).
Tabelul nr. 2. Exemple de definiii ale eficienei i eficacitii: autori strini
obtaining maximum results by consuming a certain quantity of resources. Thus there are two ways to define this concept, depending on the situation one can encounter. In first case certain levels of production are forecasted and they have to be reached with minimum resource consumption. In second case a certain quantity of resources is available and the goal is to obtain maximum production. In contemporary practice we usually encounter the first situation. Companies plan certain production levels (depending on different criterions) and they want to reach them with minimum resource consumption, so this definition is more practical. In Table no. 2 there are presented certain points of view of foreign authors on efficiency and effectiveness that are considered more relevant [10, 42].
Table no. 2: Examples of efficiency and effectiveness definitions (foreign authors)
Cercettorul suedez Stefan Tangen (2005, 41) prezint eficiena ca fiind raportu dintre nivelul minim de resurse teoretic l necesare pentru a desfura activitile dorite sistem dat (companie) i resursele ntr-un
Swedish researcher Stegan Tangen [10, 41] presents efficiency as the rate between the minimum level of resources theoretically necessary to sustain certain activities in a given system (company) and the resources actually consumed. In this approach the author presents a method to quantify efficiency. It can be determined as
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efectiv . n aceast abordare autorul consumate i modalitatea de cuantificare a ne prezint eficienei. Astfel aceasta poate fi determinat ca raport ntre cheltuielile estimate a se realiza i cheltuielile efectiv realizate. Observm c n viziunea autorilor strini menionai conceptul de eficien se refer doar la ct de bine se aloc i se consum resursele comparativ cu consumul optim cunoscut pentru activitatea respectiv. Prin urmare eficiena nu ine cont de rezultatele obinute n urma desfurrii activitii ci se refer doar la ct de bine se utilizeaz mijloacele consumate. O asemenea abordare corespunde mai mult conceptului de economicitate dect a celul de eficien din literatura de specialitate romneasc. Autorii autohtoni folosesc n lucrrile lor de specialitate definiii ale conceptului de eficien care au un caracter unitar. Prezentarea ctorva opinii ne-a fost nlesnit de o lucrare recent (Gruia i Banc, 2005):
Tabelul nr. 3. Exemple de definiii ale eficienei: autori romni
the rate between expected and incurred expenses. It can be observed that in the opinion of mentioned authors the efficiency concept refers only to how well resources are allocated and consumed comparing to optimal values known for that specific activity. In consequence efficiency doesnt refer to results; it only shows how well resources are consumed. This kind of approach is closer to the Romanian concept of economy (translated economicitate). Romanian authors use in their works definitions of efficiency that have a unitary character. A presentation of some opinions will be synthesized in Table no. 3 [4].
Table no. 3: Examples of efficiency definitions: Romanian authors
The meaning of the concept is different than the one presented above. n viziunea acestor autori semnificaia Local authors define efficiency as the rate conceptului este deci cu totul diferit. Acetia between the results obtained and the definesc eficiena ca fiind raportul dintre resources used. In consequence the term rezultatele obinute si mijloacele angajate. Prin efficiency is equivalent with productivity. urmare termenul de eficien este echivalat cu Thus we have two different interpretations cel de productivitate. Propunem aici o for the same term. This is one of the interpretare comun asupra eficienei pornind misunderstandings found in the studied de la abordarea autorilor strini pentru c este bibliography. However it would be more mai simpl i mai precis, integrnd n mod appropriate to use the foreign point of view armonios cele trei concepte nrudite (eficiena, because it is more simple and precise, and eficacitatea i productivitatea ca sum a it harmoniously integrates the three
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primelor dou). Cu toate c definiiile prezente n unele dicionare trateaz similar noiunile de eficien i eficacitate (DEX, 1998, .a.), acestea nu sunt sinonime. n numeroase lucrri de specialitate, dar mai ales n practic, se produc confuzii, cei doi termeni fiind folosii adesea cu acelai sens, motiv pentru este necesar o lmurire a acestor noiuni ntre care exist att deosebiri de nuan, determinate de natura etimologic, ct i deosebiri n ceea ce privete coninutul lor economic. n viziunea general a cercettorilor romni eficacitatea se refer numai la dimensiunea rezultatelor activitii companiei. Aceasta este reprezentat de raportul dintre rezultatul obinut si obiectivul de atins. Aceast definiie presupune ca obiectivul s fie definit ex-ante, iar rezultatul obinut s poat fi msurat sau cel puin estimat. Opinia aceasta este mprtit i de autorii srini citai mai sus. Dac n analiza eficacitii, problema este accentuarea dimensiunii scopului i neglijarea celei privind eforturile, n cazul economicitii avem de a face cu situaia invers. Astfel, se consider c neajunsul principal al formulrii anterioare este centrarea sa pe dimensiunea rezultatului neinnd cont de nivelul cheltuielilor. Situaia invers, n care se pune accentul doar pe reducerea costurilor formeaz ceea ce numim economicitat i constituie o alt dimensiune a e eficienei. Unii autori consider economicitatea ca o categorie economic care exprim relaiile dintre unitile economice, dintre acestea i mediul ambiant sau bugetul de stat n legtur cu economisirea (Bileteanu resurselor i Matei, 1986 citat de Gruia i Banc 2005). n concepia acelora i autori trebuie fcut o distincie clar ntre categoria de economicitate i cea de cost, aceasta din urm avnd o sfer de cuprindere mai mare, referindu-se la toate resursele reflectate n cheltuielile de producie, n timp ce economicitatea vizeaz doar resursele care se economisesc. Altfel spus, coninutul categoriei de economicitate const n
bounded concepts (efficiency, effectiveness, and productivity). Although definitions presented in some dictionaries treat the terms efficiency and effectiveness similarly [12], these are not synonyms. In many articles and especially in practice, confusions are made regarding the two terms. Sometimes they are used with the same meaning and that is the reason why a discussion is necessary. In most Romanian authors opinion effectiveness refers only to the dimension of company results. It represents the rate between the result obtained and the objective to be reached. This definition involves the fact that objectives must be set ex-ante, and the result can be quantified or at least estimated. This opinion is generally accepted and confirmed by all foreign authors cited above. In effectiveness analysis, the most important issue is objective accomplishment, even by neglecting the efforts. On the other hand resources must be consumed economically. In Romanian language this is described by the concept of economicitate, which is conceptualized by Romanian authors. By analyzing the foreign literature it can be observed that the Romanian word economictate doesnt have a clear correspondent in English and obviously isnt conceptualized. In the following part of the article we will use the word economy to describe it, with the meaning: rational utilization of resources. Some authors consider economy as an economic category that refers to the relations between economic entities, between these and the economic environment or state authorities regarding the rational and economical use of resources [4]. In their point of view a clear distinction should be made between economy and cost concepts, because the second has a larger coverage, by referring to all resources that are reflected in production costs, not only economically consumed resources. In other words
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obinerea de economii n desfurarea unei activiti, fenomen sau proces economic. Din acest punct de vedere, abordarea economicitii ca o categorie economic are o importan deosebit n prezent, cnd resursele materiale, energetice, umane, etc. sunt tot mai limitate i scumpe. Analiznd literatura de specialitate constatm c n limba englez nu exist un termen echivalent cu cuvntul economicitate, acesta nefiind conceptualizat la fel ca i n literatura de specialitate autohton. De fapt termenul de economicitate este mai aproape ca semnificaie de termenul de eficien (efficiency) care, dup cum am prezentat anterior, nseamn n viziunea autorilor strini consumarea minimului de resurse pentru realizarea obiectivelor vizate. 2.4. Legtura dintre productivitate, rentabilitate i profitabilitate Prin rentabilitate se nelege capacitatea unei companii de a degaja un excedent financiar din activitile desfurate 2000, 49). n economia de pia (Andronic, monitorizarea permanent a rentabilitii este absolut necesar pentru asigura o continuitate a activitii. Pentru toate categoriile de activiti economice i de resurse avansate sau consumate, efectele economice se concretizeaz, n ultim instan, n profitul obinut de o ntreprindere. Cu alte cuvinte rentabilitatea msoar capacitatea mijloacelor financiare, materiale i intelectuale ale ntreprinderii de a aduce profit. Dei sunt noiuni tratate distinct n literatura de specialitate romneasc rentabilitatea i profitabilitatea au acelai neles. Dac vom cuta corespondentul din limba englez al celor dou vom constata c ambele au ca i corespondent cuvntul profitability, care ntr-o traducere ad litteram nseamn abilitatea de a genera profit. Autorii strini analizeaz deci un singur concept: profotability. n continuare vom folosi i noi, pentru o mai bun nelegere, un singur termen pentru caracterizarea abilitii companiei de a genera profit: termenul de rentabilitate, deoarece este mai des folosit n literatura autohton.
economy means saving a quantity of resources in an activity, phenomenon or economic process. From this point of view economy is very important at the moment because material, energetic, human and other resources are limited and more expensive. 2.4. The correlation between productivity and profitability Profitability is the companys attribute to create a financial surplus from its activities [2, 49]. In the contemporary market economy the permanent monitoring of profitability is essential to ensure business continuity. For all categories of activity, economic impacts are reflected, ultimately, in the profit obtained by the company. In other words profitability measures the ability of companys financial, material and intellectual resources to generate profit. In the Romanian literature there are two different terms used to define this attribute. Although they are separately conceptualized (in Romanian rentabilitate and profitabilitate) they have the same meaning. However for simplifying field grammar and avoiding confusions the usage of a single term is recommended, and this term should be rentabilitate because it is more often used in literature. Profitability is the result of overall company performance but it largely depends on operating activity, in other terms on productivity. Undoubtedly there is a correlation between the two indicators in both short and long terms. Sometimes profitability level can change due to factors that are not related to productivity such as inflation or other specific indicators that belong to external environment. For this reason some researchers argue that productivity is a more appropriate measure of company performance than profitability [10, 39]. Productivity increase, even if it doesnt have an immediate impact due to factors in the external environment will
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Rentabilitatea companiei este un rezultat al ntregii activiti care depinde n mare msur de productivitatea activitii de exploatare. Fr nici o ndoial exist o corelaie ntre cele dou mrimi att pe termen scurt, ct i pe termen lung. Uneori ns nivelul rentabilitii se poate schimba datorit unor factori care nu in de productivitate cum este de exemplu inflaia sau alte mrimi caracteristice mediului extern al companiei. Din acest motiv unii cercettorilor susin faptul c productivitatea este o msur mai adecvat a performanei operaionale a companiei dect rentabilitatea (Tangen, 2005, 39). Creterea productivitii ns, chiar dac nu are o influen imediat asupra rentabilitii din cauza factorilor din mediul extern, va influena creterea rentabilitii pe termen lung. Miller (1984) i Stainer (1997) au reprezentat relaia dintre productivitate i rentabilitate introducnd conceptul de price recovery n traducere liber: gradul de recuperare a preului. Acesta arat influena modificrilor de pre suferite de intrrile (factorii de producie) i ieirile (produsele) procesului de producie asupra rentabilitii. 2.5. Performana: mai mult dect rentabilitate Performana este un concept mai cuprinztor dect productivitatea i rentabilitatea. Acesta include toate aspectele care in de latura economic, operaional i comercial a companiei (costuri, flexibilitate, fiabilitate, responsabilitate n livrri, vitez i calitate). n continuare vom detalia aceste aspecte (Slack et al., 2001 citat de Tangen, 2005, 40): - costurile sczute permit obinerea unui profit ridicat la preurile existente pe pia; - flexibilitatea presupune adaptarea rapid a operaiunilor la schimbrile de pe pia; - fiabilitatea i responsabilitatea asigur desfurarea activitilor conform planului i fr ntreruperi sau evenimente neprevzute; - viteza ciclului operaional nseamn reducerea cheltuielilor privind stocurile i alte cheltuieli administrative;
generate an increase of profitability on the long-term. Miller [5] and Stainer [7] presented the relationship between productivity and profitability by introducing the concept of "price recovery". It shows the influence of price changes suffered by inputs (inputs) and outputs (products) on company profitability. 2.5. Performance: more than profitabilit y Performance is a more comprehensive concept than productivity and profitability. It includes all aspects of the business: operational, economic, financial and commercial (cost, flexibility, reliability, responsibility for delivery, quality and speed). Below these issues will be elaborated as follows [9]: - Lower costs allow reaching a high profit at current market prices; - Flexibility means adapting operations quickly to changing market; - Reliability and responsibility ensures the development of activities as planed and no interruptions or unexpected events; - Increasing operating cycle speed means reducing stock and administrative costs; - The production process quality helps avoiding situations in which things must be done again. For a better understanding of the link between productivity, profitability and performance it can be plotted as "The triple P model.
Figure no. 1 The triple P model (Productivity, Profitability and Performance)
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- calitatea procesului de producie ajut la evitarea situaiilor n care lucrurile trebuie fcute din nou. Pentru o mai bun nelegere, legtura dintre productivitate, rentabilitate i performan se poate reprezentate grafic sub forma Modelului celor 3 P (Figura nr. 1.).
Figura nr. 1. Modelul celor 3 P (Productivitate, Profitebilitate i Performan)
Source: Tangen, 2005, 43
Sursa: Tangen, 2005, 43
Putem observa legtura dintre cele 3 mrimi i diferenele existente. Eficacitatea i eficien vizeaz att productivitatea ct i celelalte laturi ale performanei fiind general aplicabile tuturor obiectivelor pe care compania le are de atins. Modelul celor trei P ne prezint o abordare integrativ a elementelor performanei identificate de diferii autori i prezentate anterior i ne ajut s nelegem de unde izvorte, cum se formeaz performana companiei i care sunt principalii factori care o influeneaz.
Figure no. 1 clearly illustrates the way the three indicators are correlated. Effectiveness and efficiency refer both to productivity and at any other aspect of performance. They are generally applicable to all targets that the company has to achieve. The triple P model presents an integrative approach to identified performance elements and helps to understand what generates company performance and which the factors that influence it are.
3. Conclusions and recommendations There is a variety of views on the concept of performance and others related to it: productivity, efficiency, effectiveness and profitability. But diversity is not a problem itself, but rather the fact that some views are contradictory and do not help a more nuanced understanding of the concepts described, such as normal, but 3. Concluzii i recomandri bring even more confusion. The role of Exist o mare diversitate de opinii cu definitions is to remove ambiguities and to privire la conceptul de performan i la increase understanding. Although conceptele nrudite cu acesta: productivitate, important, they are often neglected and in eficien, eficacitate i rentabilitate. Diversitatea nu este ns o problem n sine, ci some cases erroneous interpretation are easily taken from other authors without a mai mult faptul c unele opinii sunt more detailed analysis of international contradictorii i nu ajut la nelegerea mai literature, thus spreading different opinions nuanat a conceptelor la care se refer, cum ar and sometimes opposing points of view fi normal, ci mai de grab creeaz confuzii i about certain concepts. mai mari. Rolul definiiilor este de a elimina Therefore, to remove any confusion ambiguitile i a crete gradul de cunoatere. it is recommended to use a common De i sunt importante, acestea sunt de multe ori vocabulary for terms specific to any area
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neglijate, iar n unele cazuri sunt preluate cu u urin de la ali autori interpretri eronate fr o analiz mai amnunit a literaturii de specialitate internaionale, rspndindu-se astfel opinii diferite i uneori chiar opuse despre anumite noiuni. n consecin, pentru nlturarea oricror confuzii se recomand folosirea unui vocabular comun pentru termenii specifici managementului performanei i oricrui domeniu economic. Analiznd toate abordrile performanei se propune n cele ce urmeaz o opinie proprie asupra tuturor conceptelor prezentate anterior, afirmndu-se c o companie este performant dac este n primul rnd productiv, sursa iniial pe termen lung a performanei fiind productivitatea. Aceasta implic consumarea eficient a resurselor i ndeplinirea eficace a obiectivelor stabilite. Performana nu este ns asigurat de productivitate, deoarece aceasta se refer numai la partea operaional a activitii. Prin urmare performana depinde i partea financiar, de preurile la care sunt achiziionate resursele consumate (cheltuielile totale) i preurile la care se vor vinde produsele sau serviciile realizate (veniturile totale). Rezultatul diferenei dintre acestea msurndu-se de fapt prin rentabilitatea companiei. n funcie de aceste considerente productivitatea i pune amprenta mai mult sau mai puin asupra performanei. Mai mult dect att o rentabilitate ridicat, datorat unei productiviti ridicate constituie o baz solid a performanei prezente dar nu garanteaz meninerea acesteia n viitor. Pentru pstrarea acestei stri competitive sunt necesare: calitatea i responsabilitatea n livrarea produselor i prestarea serviciilor, vitez (scurtarea timpilor de producie i livrare), flexibilitate pentru o adaptare rapid la cerinele pieei i inovare.
of performance management and economics. The analysis of all performance approaches leaded to certain conclusions. The long-term source of performance is productivity. This implies efficient consumption of resources and effective fulfilling of the objectives. But productivity doesnt assure performance, since it only refers to the operational activity. Therefore performance depends on companys financial and commercial activity and it is influenced by the prices at which resources are acquired (total expenditure) and by the prices of sold products or services performed (total income). The difference between the two expresses company profitability. According to these considerations productivity takes its tool on performance. Moreover a growing profitability, caused by high productivity creates a sound basis of performance but does not guarantee its future maintenance. To keep this competitive state there are necessary: quality and responsibility in delivering products and services, speed (shorter production cycles and delivery), flexibility for quickly adapting to market demands and innovation.
References 1. Albu, N., Albu, C., Soluii practice de eficientizare a activitilor i de cretere a performanei , CECCAR Publishing, Bucharest, 2005 organizaionale 2. Andronic, Performan B.C., a firmei. Abordare transdisciplinar n analiza , Polirom microeconomic 2000 Publishing, Iai, 3. Brbulescu, C., Bgu, C., Managementul produciei, vol. II - Politici manageriale de , Economic producie House, Bucharest, 2001 Publishing Bibliografie 4 Gruia, D.F., Banc, P. (2005), 1. Albu, N., Albu, C., Soluii practice Delimitri teoretice cu privire la conceptul . eficientizare a activitilor ide cretere a de de eficien i formele , National sale performanei , Editura Student Symposium 2005, 1 Decembrie organizaionale CECCAR, Bucureti, 2005 1918 University, Alba Iulia 2. Andronic, Performana firmei. 5. Miller, Profitability = B.C., D.M.,
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Abordare transdisciplinar n productivity + price , Harvard analiza recovery Review, Vol. 62 No. 3, 145-53, microeconomic , Editura Polirom, Iai, 2000 Business 3. Brbulescu, C., Bgu, C., 1984 Managementul produciei, vol. II - Politici 6. Niculescu, M., Lavalette, G., manageriale de , Editura Economic, Strategii de , Economic Publishing producie 2001 cretereBucharest, 1999 Bucureti, House, 4 Gruia, D.F., Banc, Delimitri 7. Stainer, A., Capital input and . P., total , Management teoretice cu privire la conceptul de eficien productivity i management 35 No. 3, 224-32, 1997 formele sale , Simpozionul Naional Decision, Vol. Studenesc, Universitatea 1 Decembrie 1918, 8 tefnescu, A., Performan . a Alba Iulia, 2005 financiar a ntreprinderii ntre realitate 5. Miller, Profitability = i creativitate , Economic Publishing D.M., productivity + price , Harvard House, Bucharest, 2005 recovery Review, Vol. 62 Nr. 3, 145-53, 1984 Business 9. Tangen, S., Theoretical 6. Niculescu, M., Lavalette, G., Strategii for Productivity Foundation Measurement de , Editura Economic, Bucureti, Improvement of Automatic Assembly and cretere 1999 System , Licentiate thesis, Stockholm: s 7. Stainer, A., Capital input and Royal Institute of Technology, chapter 3, total , Management productivity 19-30, 2002 Decision, Vol. 35 Nr. 3, 224-32, 1997 10. Tangen, S., Demystifying management 8 tefnescu,A., Performana financiar productivity and , . a ntreprinderii ntre realitate i creativitate , performance Journal of Productivity and International Editura Economic, Bucure ti, 2005 Performance Management, Vol. 54, No. 1, 9. Tangen, S., Theoretical Foundation 34-46, 2005 11. Verboncu, I., Zalman, M., for Productivity Measurement and Improvement Automatic Assembly Systems , Lucrare de Management i , Universitary of performane licen, Stockholm: Royal Institute of Publishing House, Bucharest, 2005 Technology, cap. 3, 19-30, 2002 12. xxx - Dicionar Explicativ al Limbii 10. Tangen, S., Demystifying Romn , Univers Enciclopedic Publishing productivity and , International , e Bucharest,1998 performance Journal of Productivity and Performance 13. xxx - The Oxford Dictionary of Management, Vol. 54, Nr. 1, 34-46, 2005 Economic , John Black Publishing, s 11. Verboncu, I., Zalman, M., Oxford University Press. eNotes.com. Management i , Editura 2006, accessed on 09.09.2010, available Universitar, at: performane Bucure ti, 2005 12. xxx - Dicionar Explicativ al http://www.enotes.com/econLimbii Romne , Editura Univers Enciclopedic, encyclopedia Bucureti,1998 xxx The Oxford Dictionary Economic , Ed. John Black, Oxford of s University Press. eNotes.com. 2006, accesat n data de 09.09.2010, disponibil la adresa web:http://www.enotes.com/econencyclopedia
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Figure no. 1 The triple P model (Productivity, Profitability and Performance)

Source: Tangen, 2005, 43

Sursa: Tangen, 2005, 43

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