IMPLEMENTATION OF THE FIRM'S PERFORMANCE MEASUREMENT SYSTEM IN THE MANAGEMENT PROCESS
IMPLEMENTATION OF THE FIRM'S PERFORMANCE MEASUREMENT SYSTEM IN THE MANAGEMENT PROCESS

Author(s): Camelia Cătălina Mihalciuc, Maria Grosu, Ciprian Apostol
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: ERP system; strategic performance; Business Performance Management; key per-formance indicators; Balance Scorecard; Total Quality Management; strategic management;
Summary/Abstract: Performance improvement is always a strategic issue for any business operating in a market economy, as it is an important basis for business survival and development. In order to assess the performance of firms in various fields it is necessary to use financial and non-financial indicators in performance measurement models. The aim of this paper is to review the design of different systems for measuring firm performance by identifying the management processes and systems that companies use to improve performance and accountability. When we refer to a performance measurement system, we are basically referring to a benchmark of what the organization considers important and how well it is performing, by measuring performance we can turn assumptions into concrete and clearly understood facts, pointing the way to process improvements, which will ultimately lead to more effective business models. Therefore, the objective of this paper is to contribute to a better understanding of the context of performance measurement development, the methodological approach of the research focusing on the definition and presentation of the concept of a firm's performance management system, and also, the identification in the literature of firms that have implemented such an effective performance measurement system.

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