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Approaches towards performance measurement and management

Author

Listed:
  • Lucie Lendelova

    (University of Žilina, Slovakia)

  • Viliam Lendel

    (University of Žilina, Slovakia)

  • Denisa Mackova

    (University of Žilina, Slovakia)

Abstract

In today's dynamic and highly competitive business environment, performance measurement and management systems play a crucial role. They help companies to be competitive. However, companies must properly set up approaches towards performance measurement, management, and all associated activities to take full advantage of these systems and ensure their sustainability. This can be a challenging task. Only some researchers discuss approaches toward comprehensive performance measurement and management. The authors have identified issues related to understanding, implementing, and using these systems. This article aims to fill this gap by providing a comprehensive view of performance measurement and management. It describes the performance measurement system, components, steps, measures, measurement areas, users, and information transfer. The performance management system has to consider the context of the entire organisation and embrace external and internal factors that influence its implementation, development and quality, as well as tools that make it more efficient and ensure its sustainability. The suggested framework is graphically illustrated. Finally, the meaningfulness, reality and possible usability in practice are verified through semi-structured interviews with managers of selected companies.

Suggested Citation

  • Lucie Lendelova & Viliam Lendel & Denisa Mackova, 2024. "Approaches towards performance measurement and management," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 11(3), pages 118-133, March.
    • Handle: RePEc:ssi:jouesi:v:11:y:2024:i:3:p:118-133
    DOI: 10.9770/jesi.2024.11.3(8)
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    More about this item

    Keywords

    performance; management; approaches; measurement; system; factors; tools;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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