The utilization of benchmarking in the financial management of plastics processing companies

Abstract

The goal of this contribution is to show the possibilities of utilization of benchmarking and its procedures in the financial management of plastics processing companies. Benchmarking is a significant tool for financial management motivating the company managers to make necessary changes thereby affecting the performance of the enterprise. This contribution contains a benchmarking study of a sample of plastics processing companies operating in the United States and in the Czech Republic. The results of the study identify the areas of financial management of an enterprise that require particular attention in order to increase its performance. The concept of Economic Value Added as a measure of performance has been chosen.