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Sustainable Development Economics of Enterprises in the Services Sector Based on Effective Management of Value Streams

Author

Listed:
  • Jarmila Straková

    (Department of Management, Faculty of Corporate Strategy, Institute of Technology and Business in České Budějovice, Okružní 517/10, 37001 České Budějovice, Czech Republic)

  • Antonín Korauš

    (Department of Information Science and Management, Academy of the Police Force in Bratislava, Sklabinská 1, 83517 Bratislava, Slovakia)

  • Jan Váchal

    (Department of Management, Faculty of Corporate Strategy, Institute of Technology and Business in České Budějovice, Okružní 517/10, 37001 České Budějovice, Czech Republic)

  • František Pollák

    (Department of Management, Faculty of Corporate Strategy, Institute of Technology and Business in České Budějovice, Okružní 517/10, 37001 České Budějovice, Czech Republic)

  • Filip Černák

    (Faculty of Management, University of Prešov in Prešov, Konštantínova 16, 08001 Prešov, Slovakia)

  • Milan Talíř

    (Department of Management, Faculty of Corporate Strategy, Institute of Technology and Business in České Budějovice, Okružní 517/10, 37001 České Budějovice, Czech Republic)

  • Jaroslav Kollmann

    (Department of Management, Faculty of Corporate Strategy, Institute of Technology and Business in České Budějovice, Okružní 517/10, 37001 České Budějovice, Czech Republic)

Abstract
The world’s economy has been significantly affected by the ongoing pandemic crisis. Its logical reflection is a deteriorating condition of national and regional economies and their vehicles—enterprises. Negative effects of the crisis have influenced both the manufacturing sector and the services sector, where some segments have been hit fatally. In the corporate sphere in general, including in the services sector, there has been a growing need to change the approach to corporate strategy. The strategy should be generated based on management of value-creating processes with the objective to maximize satisfaction of customers while minimizing costs. This is also the topic of this paper. A representative sample of small and medium enterprises from the services sector have been surveyed about their size, using mathematical statistics and models that have been proposed to maximize profit probability. The objective was to propose models that maximize probability of profit and, at the same time, minimize costs for each combination of value chain activities (input logistics, provision of services, output logistics, marketing and sale, servicing, and other accompanying activities, purchasing material management, science-technical development, human resources management and company infrastructure). The main outcome of this paper is the fact that we have been able to prove the functionality of the tested model, which has demonstrated the growing importance of value stream management in relation to the size of enterprises. Such a universal and structured model provides a practical tool for the definition of economic-financial, investment and personnel policies in enterprises.

Suggested Citation

  • Jarmila Straková & Antonín Korauš & Jan Váchal & František Pollák & Filip Černák & Milan Talíř & Jaroslav Kollmann, 2021. "Sustainable Development Economics of Enterprises in the Services Sector Based on Effective Management of Value Streams," Sustainability, MDPI, vol. 13(16), pages 1-15, August.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:16:p:8978-:d:612289
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    References listed on IDEAS

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    Cited by:

    1. Jarmila Straková & Yaroslava Kostiuk, 2023. "Importance of Business Process Quality for Creating Added Value and Raising Reputation of Companies in Low-Carbon Economy," Energies, MDPI, vol. 16(17), pages 1-18, September.
    2. Jarosław Kaczmarek, 2024. "Effectiveness of Company Value Creation Based on Excess Market Value-Added Assessment," Sustainability, MDPI, vol. 16(9), pages 1-25, April.
    3. Monika Burghauserová & Zuzana Rowland & Lenka Novotná, 2022. "Production function in agriculture in the Czech Republic," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(1), pages 453-466, September.
    4. Iveta Šimberová & Antonín Korauš & David Schüller & Lenka Širáňová & Jarmila Straková & Jan Váchal, 2022. "Threats and Opportunities in Digital Transformation in SMEs from the Perspective of Sustainability: A Case Study in the Czech Republic," Sustainability, MDPI, vol. 14(6), pages 1-17, March.
    5. Olha Prokopenko & Marina J rvis & Gunnar Prause & Inna Kara & Hanna Kyrychenko & Oleksandr Kochubei & Maryna Prokopenko, 2022. "Economic Features of the Use of Electric Vehicles in Delivery Services in Estonia," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 340-349, November.

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