International Journal of Research Studies in Management
CollabWritive Special Issue
2023 Volume 11 Issue 13
Available Online: 31 December 2023
Author/s:
Manongsong, Jiexel L.
Graduate School, Lyceum of the Philippines University – Batangas, Philippines (jlmanongsong@lpubatangas.edu.ph)
Abstract:
Business sustainability is an on-going process of planning, implementing, and evaluating operation to survive and thrive according to the needs of evolving environment. This study assessed the business processes, internal control systems and business performance towards sustainable business operation. Descriptive method of research was utilized using adopted and modified questionnaire. 205 Certified Public Accountants in Batangas participated in this study. Weighted mean, ranking, Pearson r, and regression analysis were the statistical tools used to interpret the findings using SPSS version 28. The result showed that the top management commitment and strategic view were strongly observed in the implementation of business processes. There is a strong and in-place internal control system. The market performance, evidenced by a strong market share and growing customer satisfaction, was considered mostly in business performance over financial and non-financial indicators. A moderate to strong direct relationship and strong correlations among business process and business performance, business process and internal control and internal control system with business performance. A proposed framework is suggested for sustainable business operation. Business owners may create a culture of continuous improvement in business operations to maintain high levels of employee engagement and customer satisfaction. Committee of Sponsoring Organization (COSO) internal control framework and financial statement analysis may be used to analyze more specifically the business performance while including rank-and-file employees on the process to have a more holistic view of the business operation.
Keywords: business process, internal control, business performance, sustainability, operation
DOI: https://doi.org/10.5861/ijrsm.2023.1164
Cite this article:
Manongsong, J. L. (2023). Business processes, internal control systems and business performance: Basis for sustainable business operation framework. International Journal of Research Studies in Management, 11(13), 67-77. https://doi.org/10.5861/ijrsm.2023.1164