Year: 2024
Type: article
Abstract: Performance measurement is crucial for evaluating the organization's progress against set goals, but it is not enough by itself. For example, although a business may record an increase in sales, this does not explain the causes of the increase. To move from mere performance measurement to effective performance management, an organization needs to analyze results and clarify their causes, as well as identify areas for improvement. A concrete example can be a situation in which a company notices a drop in the satisfaction of its customers. Instead of focusing only on data and figures, management should investigate the causes of dissatisfaction through surveys or feedback analysis. Based on these insights, it can develop strategies that will improve the user experience. In addition, the organization should be proactive and anticipate changes in strategic direction. For example, if a new trend emerges in the market, such as increased demand for sustainable products, management should be ready to adjust their strategies and resources to take advantage of the opportunity. This requires a methodology that includes data analysis, planning and implementation of actions that will help the organization to adapt and improve its performance at all levels.
Authors: Arsenije Dabetić, Milica Popović, Zoran Davidovac, Nada Božić
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4406786015